Chromocell Therapeutics Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Chromocell Therapeutics Corp. has submitted its 2023 annual report (10-K), detailing its operations and financial standing for the fiscal year ending December 31, 2023.</b>

AI Summary

Chromocell Therapeutics Corp (PTHS) filed a Annual Report (10-K) with the SEC on April 16, 2024. Chromocell Therapeutics Corp. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 685 US Highway One, North Brunswick, NJ 08902. Chromocell Therapeutics Corp. is classified under the SIC code 2836 for Biological Products (No Diagnostic Substances). The report was filed as of April 16, 2024.

Why It Matters

For investors and stakeholders tracking Chromocell Therapeutics Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Chromocell Therapeutics Corp.'s business, financial condition, and results of operations for the fiscal year 2023, which is crucial for investors to assess the company's performance and outlook. The detailed information within the 10-K allows stakeholders to understand the company's strategic direction, potential risks, and any significant developments that occurred during the reporting period.

Risk Assessment

Risk Level: medium — Chromocell Therapeutics Corp shows moderate risk based on this filing. The company's financial performance and future prospects are not detailed in the provided header information, making it difficult to assess its current financial health or growth potential.

Analyst Insight

Investors should review the full 10-K filing to understand Chromocell Therapeutics Corp.'s financial results, business strategy, and risk factors for the fiscal year 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (The end date of the reporting period.)
• 2024-04-16 — Filing Date (The date the 10-K was officially filed with the SEC.)
• 001-41964 — SEC File Number (The SEC's file number for the company.)
• 0001919246 — Central Index Key (The SEC's unique identifier for the filer.)

Key Players & Entities

• Chromocell Therapeutics Corp. (company) — Filer and subject of the 10-K filing.
• 0001753926-24-000740 (other) — Accession number for the filing.
• 20231231 (date) — Fiscal year end date.
• 20240416 (date) — Filing date.
• 685 US HIGHWAY ONE, NORTH BRUNSWICK, NJ 08902 (address) — Business and mailing address of the company.
• 2836 (other) — Standard Industrial Classification code.

FAQ

Industry Context

Chromocell Therapeutics Corp. operates in the biotechnology sector, focusing on biological products.

Regulatory Implications

The company is subject to SEC regulations for public companies, including the requirement to file annual reports on Form 10-K.

What Investors Should Do

1. Review the full 10-K document for detailed financial statements and management discussion.
2. Analyze the company's business operations and strategic initiatives outlined in the report.
3. Assess any disclosed risk factors and their potential impact on the company.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-16: 10-K Filing Date — Official date the annual report was submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing information provided, with no prior filing data available for comparison.

Key Financial Figures

• $0.0001 — ge on which registered: Common Stock, $0.0001 par value CHRO The NYSE American LLC
• $67 billion — ment market was valued at approximately $67 billion in 2021, and it is expected to have rev
• $89 billion — and it is expected to have revenues of $89 billion in 2027, with a compound annual growth

Filing Documents

• g084167_10k.htm (10-K) — 1798KB
• g084167_ex3-3.htm (EX-3.3) — 74KB
• g084167_ex4-2.htm (EX-4.2) — 20KB
• g084167_ex19-1.htm (EX-19.1) — 62KB
• g084167_ex23-1.htm (EX-23.1) — 4KB
• g084167_ex31-1.htm (EX-31.1) — 12KB
• g084167_ex31-2.htm (EX-31.2) — 13KB
• g084167_ex32-1.htm (EX-32.1) — 6KB
• g084167_ex32-2.htm (EX-32.2) — 6KB
• g084167_ex97-1.htm (EX-97.1) — 40KB
• 0001753926-24-000740.txt (&nbsp;) — 5168KB
• chro-20231231.xsd (EX-101.SCH) — 30KB
• chro-20231231_cal.xml (EX-101.CAL) — 32KB
• chro-20231231_def.xml (EX-101.DEF) — 101KB
• chro-20231231_lab.xml (EX-101.LAB) — 258KB
• chro-20231231_pre.xml (EX-101.PRE) — 189KB
• g084167_10k_htm.xml (XML) — 408KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 28 Item 1B. Unresolved Staff Comments 68 Item 1C. Cybersecurity 68 Item 2.

Properties

Properties 69 Item 3.

Legal Proceedings

Legal Proceedings 69 Item 4. Mine Safety Disclosures 69 PART II 69 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 69 Item 6. Reserved 71 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 71 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 83 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 83 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 83 Item 9A.

Controls and Procedures

Controls and Procedures 83 Item 9B. Other Information 84 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 84 PART III 84 Item 10. Directors, Executive Officers and Corporate Governance 84 Item 11.

Executive Compensation

Executive Compensation 89 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 9 6 Item 13. Certain Relationships and Related Transactions, and Director Independence 99 Item 14. Principal Accountant Fees and Services 102 PART IV 103 Item 15. Exhibits and Financial Statement Schedules 103 iii pART i Item 1. Business Overview We are a clinical-stage biotech company focused on developing and commercializing new therapeutics to alleviate pain. Our clinical focus is to selectively target the sodium ion-channel known as "NaV1.7", which has been genetically validated as a pain receptor in human physiology. A NaV1.7 blocker is a chemical entity that modulates the structure of the sodium-channel in a way to prevent the transmission of pain perception to the central nervous system ("CNS"). Our goal is to develop a novel and proprietary class of NaV blockers that target the body's peripheral nervous system, target the following indications: 1) Neuropathic pain, with a focus on Erythromelalgia ("EM"), a rare condition characterized primarily by searing pain in the feet and, less commonly, by the hands (extremities) and idiopathic small fiber neuropathy ("iSFN"), a painful condition with associated nerve damage in the hands and feet. Neither EM nor iSFN have currently approved treatments . 2) Acute and chronic eye pain resulting from disease, surgery or trauma. According to Mordor Intelligence, the global pain management market was valued at approximately $67 billion in 2021, and it is expected to have revenues of $89 billion in 2027, with a compound annual growth rate of 4.65% over the forecast period. Also, according to Mordor Intelligence, the United States has the largest market for pain management pharmaceuticals and Asia-Pacific is the region showing the strongest growth. North America holds the largest share in the pain management market, with the United States being the most significant contributor to its revenue. According t