Item 2.02 Results of Operations and Financial Condition
Although it has not finalized its full financial results for the fourth quarter
and fiscal year ended December 31, 2022, the Company expects to report that it
had approximately $646.8 million in cash, cash equivalents and available for
sale securities as of December 31, 2022.
The information contained in this Item 2.02 of Form 8-K is unaudited and
preliminary, and does not present all information necessary for an understanding
of the Company's financial condition as of December 31, 2022 and its results of
operations for the three months and year ended December 31, 2022. The audit of
the Company's financial statements for the year ended December 31, 2022 is
ongoing and could result in changes to the information set forth above. The
Company anticipates making a public announcement of its results of operations
for the fourth quarter and fiscal year ended December 31, 2022 on or about
February 22, 2023.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 31, 2022, the Board of Directors (the "Board") of the Company
increased the size of the Board from seven directors to eight directors, and
elected Pravin U. Dugel, MD, President of the Company, as a Class I director,
effective January 1, 2023. Dr. Dugel will serve in accordance with the Amended
and Restated Bylaws of the Company until the 2023 annual meeting of stockholders
and thereafter until his successor is duly elected and qualified or until his
earlier death, resignation or removal. Dr. Dugel will not receive any additional
compensation for serving in his capacity as a member of the Board.
Item 8.01 Other Events
2022 Year End Cash and Cash Equivalents
The information in Item 2.02 of this Form 8-K is incorporated by reference.
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