Certainty language minus hedging language in Risk Factors. Positive = assertive, negative = hedging-heavy.
From 2023-03-07 (10-K) to 2026-03-02 (10-K), this metric decreased across 4 filings.
Risk-factor drift item_1a vs prior same-form filing, cosine similarity
- 10-K 2026-03-02 vs 2025-03-05 99.3% boilerplate
- 10-K 2025-03-05 vs 2024-03-06 99.6% boilerplate
- 10-K 2024-03-06 vs 2023-03-07 95.0% boilerplate
Auditor’s report opinion, going-concern & control flags, critical audit matters
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10-K 2026-03-02 unqualified
- Revenue recognition from drug supply for ongoing studies from Jazz Pharmaceuticals Ireland Limited (Jazz)
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10-K 2025-03-05 unqualified
- Revenue recognition from drug supply for ongoing studies from Jazz Pharmaceuticals Ireland Limited (Jazz)
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10-K 2024-03-06 unqualified
- Evaluation of the contract modification related to the amended collaboration agreement with Jazz Pharmaceuticals Ireland Limited (“Jazz”)
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10-K 2023-03-07 unqualified
- Evaluation of distinct performance obligations related to the license and collaboration agreement with Jazz Pharmaceuticals Ireland Limited
Balance-sheet trends inventory, receivables, reserves & impairment vs prior year
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Receivables building faster than sales FY 2024-12-31receivables +187% vs revenue +0% · DSO 93.5→267.0 days
Balance-sheet language forensic risk vocabulary shifting in MD&A / financials vs prior year
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Impairment risk language + numbersdensity 0.85→1.34 / 10k chars (34→49 mentions)
Revenue-recognition drift rev-rec policy language change vs prior filing
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10-K 2026-03-02 93% similar to prior accounting-standard adoption
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10-K 2025-03-05 85% similar to prior accounting-standard adoption+ Point IN TIME
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10-K 2024-03-06 91% similar to prior accounting-standard adoption− Performance Obligations− Standalone Selling Price