MyMD Pharmaceuticals, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>MyMD Pharmaceuticals, Inc. (QCLS) has filed its 2023 annual report (10-K) detailing its financial performance and corporate information.</b>

AI Summary

MyMD Pharmaceuticals, Inc. (QCLS) filed a Annual Report (10-K) with the SEC on April 1, 2024. MyMD Pharmaceuticals, Inc. filed its 2023 Form 10-K on April 1, 2024. The company was formerly known as Akers Biosciences, Inc. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is in Baltimore, MD. The filing includes data related to Series F and Series D Convertible Preferred Stock.

Why It Matters

For investors and stakeholders tracking MyMD Pharmaceuticals, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of MyMD Pharmaceuticals' financial health and operational status for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. Understanding the details within this filing, including historical data and corporate changes like the former name 'Akers Biosciences, Inc.', is essential for investors to make informed decisions regarding their investment in QCLS.

Risk Assessment

Risk Level: medium — MyMD Pharmaceuticals, Inc. shows moderate risk based on this filing. The company's financial statements and disclosures in this 10-K filing are critical for understanding its financial health, but specific financial performance metrics like revenue and net income are not detailed in the provided header information, necessitating a deeper review of the full document.

Analyst Insight

Investors should review the full 10-K filing to understand MyMD Pharmaceuticals' financial performance, strategic initiatives, and risk factors for the fiscal year 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-04-01 — Filing Date (As of date)
• 84 — Document Count (Public document count)

Key Players & Entities

• MyMD Pharmaceuticals, Inc. (company) — Filer name
• QCLS (company) — Ticker symbol
• Akers Biosciences, Inc. (company) — Former company name
• 2023-12-31 (date) — Fiscal year end
• 2024-04-01 (date) — Filing date
• Baltimore, MD (location) — Business address

FAQ

Industry Context

MyMD Pharmaceuticals operates within the biotechnology and pharmaceutical sector, focusing on the development of novel therapeutic agents.

Regulatory Implications

As a publicly traded company, MyMD Pharmaceuticals is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

1. Thoroughly review the full 10-K document for detailed financial statements, including revenue, net income, and balance sheet information.
2. Analyze the Management's Discussion and Analysis (MD&A) section for insights into the company's operational performance and strategic outlook.
3. Examine the Risk Factors section to understand potential challenges and uncertainties facing MyMD Pharmaceuticals.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-01: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the company's annual report for the fiscal year 2023, superseding previous quarterly and annual filings.

Key Financial Figures

• $0.001 — ed: Shares of Common Stock, par value $0.001 per share MYMD The Nasdaq Stock Mar
• $45.00 — e 30, 2023, based on a closing price of $45.00 was $ 63 million. As of March 29, 202
• $41.6 billion — rket for TNF- blockers was estimated at $41.6 billion in 2020 and is projected to reach $45.5
• $45.5 billion — llion in 2020 and is projected to reach $45.5 billion by 2027. An in vitro study involving

Filing Documents

• form10-k.htm (10-K) — 3040KB
• ex4-1.htm (EX-4.1) — 92KB
• ex10-58.htm (EX-10.58) — 16KB
• ex23-1.htm (EX-23.1) — 3KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 6KB
• ex97-1.htm (EX-97.1) — 43KB
• form10-k_001.jpg (GRAPHIC) — 80KB
• form10-k_002.jpg (GRAPHIC) — 52KB
• form10-k_003.jpg (GRAPHIC) — 21KB
• form10-k_004.jpg (GRAPHIC) — 44KB
• form10-k_005.jpg (GRAPHIC) — 24KB
• form10-k_006.jpg (GRAPHIC) — 23KB
• form10-k_007.jpg (GRAPHIC) — 30KB
• form10-k_008.jpg (GRAPHIC) — 11KB
• form10-k_009.jpg (GRAPHIC) — 19KB
• form10-k_010.jpg (GRAPHIC) — 13KB
• 0001493152-24-012533.txt (&nbsp;) — 11345KB
• mymd-20231231.xsd (EX-101.SCH) — 60KB
• mymd-20231231_cal.xml (EX-101.CAL) — 57KB
• mymd-20231231_def.xml (EX-101.DEF) — 303KB
• mymd-20231231_lab.xml (EX-101.LAB) — 545KB
• mymd-20231231_pre.xml (EX-101.PRE) — 415KB
• form10-k_htm.xml (XML) — 1508KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 27 Item 1B. Unresolved Staff Comments 57 Item 1C. Cybersecurity 57 Item 2.

Properties

Properties 57 Item 3.

Legal Proceedings

Legal Proceedings 57 Item 4. Mine Safety Disclosures 57 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 58 Item 6. Reserved 58 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 58 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 69 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 69 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 69 Item 9A.

Controls and Procedures

Controls and Procedures 69 Item 9B. Other Information 70 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 70 PART III Item 10. Directors, Executive Officers and Corporate Governance 71 Item 11.

Executive Compensation

Executive Compensation 77 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 90 Item 13. Certain Relationships and Related Transactions, and Director Independence 92 Item 14. Principal Accountant Fees and Services 94 PART IV Item 15. Exhibit and Financial Statement Schedules 95 Item 16. Form 10-K Summary 95 2 CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K (the "Annual Report") and the documents we have filed with the Securities and Exchange Commission (which we refer to herein as the "SEC") that are incorporated by reference herein contain "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terms such as "anticipates," "assumes," "believes," "can," "could," "estimates," "expects," "forecasts," "future," "guides," "intends," "is confident that,", "may," "plans," "seeks," "projects," "targets," and "would" or the negative of such terms or other variations on such terms or comparable terminology. These statements relate to future events or our future financial performance or condition and involve known and unknown risks, uncertainties and other factors that could cause our actual results, levels of activity, performance or achievement to differ materially from those expressed or implied by these forward-looking statements. Examples of forward-looking statements in this Annual Report and our other SEC filings include, but are not limited to, our expectations regarding our business strategy, business prospects, operating results, operating expenses, working capital, liquidity and capital expenditure requirements. These statements are based on our management's expectations, beliefs and assumptions concerning future events affecting us, which in turn are based on currently available information and are subject to significant risks and u

View Full Filing

View this 10-K filing on SEC EDGAR