Print Page  Close Window

SEC Filings

VITAE PHARMACEUTICALS, INC filed this Form S-1 on 08/12/2014
Entire Document

Table of Contents

The trading price of the shares of our common stock could be highly volatile, and purchasers of our common stock may not be able to resell the shares of our common stock at or above the initial public offering price and could incur substantial losses.

        The initial public offering price for our shares will be determined by negotiations between us and the representatives of the underwriters and may not be indicative of prices that will prevail in the trading market. Our stock price is likely to be volatile. The stock market in general and the market for biotechnology companies in particular have experienced extreme volatility that has often been unrelated to the operating performance of particular companies. As a result of this volatility, investors may not be able to sell their common stock at or above the initial public offering price. The market price for our common stock may be influenced by many factors, including:

    our and our partners' ability to enroll patients in planned clinical trials;
    results of the clinical trials, and the results of trials of our competitors or those of other companies in our market sector, and the timing of the release of those results;
    the passage of legislation or other regulatory developments in the United States and foreign countries;
    actual or anticipated variations in our financial results or those of companies that are perceived to be similar to us;
    changes in the structure of healthcare payment systems, especially in light of current reforms to the U.S. healthcare system;
    our ability to discover and develop or partner additional product candidates;
    announcements by us or our competitors of significant acquisitions, strategic partnerships, joint ventures or capital commitments;
    our ability to enter into strategic partnerships for the development of our product candidates;
    market conditions in the pharmaceutical and biotechnology sectors and issuance of securities analysts' research reports or recommendations;
    sales of our stock by us, our insiders and our other stockholders;
    trading volume of our common stock;
    speculation in the press or investment community;
    general economic, industry and market conditions other events or factors, many of which are beyond our control;
    additions or departures of key personnel; and
    intellectual property, product liability or other litigation against us.

        In addition, the stock market has recently experienced significant volatility, particularly with respect to pharmaceutical, biotechnology and other life sciences company stocks. The volatility of pharmaceutical, biotechnology and other life sciences company stocks often does not relate to the operating performance of the companies represented by the stock. As we operate in a single industry, we are especially vulnerable to these factors to the extent that they affect our industry or our products, or to a lesser extent our markets. In the past, stockholders have initiated class action lawsuits against biotechnology and pharmaceutical companies following periods of volatility in the market prices of these companies' stock. Such litigation, if instituted against us, could cause us to incur substantial costs and divert management's attention and resources, which could have a material adverse effect on our business, financial condition and results of operations.

Our quarterly operating results may fluctuate significantly.

        We expect our operating results to be subject to quarterly fluctuations. Our net loss and other operating results will be affected by numerous factors, including:

    variations in the level of expenses related to our clinical trial and development programs;
    addition or termination of clinical trials;