TPTX » Topics » Risks Related to our Common Stock

This excerpt taken from the TPTX 10-K filed Mar 27, 2009.

Risks Related to our Common Stock

FACE="Times New Roman" SIZE="2">Our stock price has been, and is expected to continue to be, volatile.

The market price of
our common stock could be subject to significant fluctuations. Market prices for securities of early-stage pharmaceutical, biotechnology and other life sciences companies have historically been particularly volatile. Some of the factors that may
cause the market price of our common stock to fluctuate include:

 







  

the results of our current and any future clinical trials of our product candidates;

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the results of on-going preclinical studies and planned clinical trials of our preclinical product candidates;

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the entry into, or termination of, key agreements, including key strategic alliance agreements;

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the results and timing of regulatory reviews relating to the approval of our product candidates;

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the initiation of, material developments in, or conclusion of litigation to enforce or defend any of our intellectual property rights;


 







  

general and industry-specific economic conditions that may affect our research and development expenditures;

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the results of clinical trials conducted by others on drugs that would compete with our product candidates;

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issues in manufacturing our product candidates or any approved products;

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the loss of key employees;

 







  

the introduction of technological innovations or new commercial products by our competitors;

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failure of any of our product candidates, if approved, to achieve commercial success;

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changes in estimates or recommendations by securities analysts, if any, who cover our common stock;

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future sales of our common stock;

 







  

changes in the structure of health care payment systems; and

 







  

period-to-period fluctuations in our financial results.

FACE="Times New Roman" SIZE="2">Moreover, the stock markets in general have experienced substantial volatility that has often been unrelated to the operating performance of individual companies. These broad market fluctuations may also adversely
affect the trading price of our common stock.

In the past, following periods of volatility in the market price of a company’s
securities, stockholders have often instituted class action securities litigation against those companies. Such litigation, if instituted, could result in substantial costs and diversion of management attention and resources, which could
significantly harm our profitability and reputation.

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