Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2194

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 2194
---
    ●
    decline
    in our share price.

Our
inability to obtain sufficient product liability insurance at an acceptable cost to protect against potential product liability claims
could prevent or inhibit the commercialization of products we develop. We will need to obtain additional insurance for clinical trials
as our product candidates enter the clinic. However, we may be unable to obtain, or may obtain on unfavorable terms, clinical trial insurance
in amounts adequate to cover any liabilities from any of our clinical trials. Our insurance policies may also have various exclusions,
and we may be subject to a product liability claim for which we have no coverage. We may have to pay any amounts awarded by a court or
negotiated in a settlement that exceed our coverage limitations or that are not covered by our insurance, and we may not have, or be
able to obtain, sufficient capital to pay such amounts. Even if our agreements with any future corporate collaborators entitle us to
indemnification against losses, such indemnification may not be available or adequate should any claim arise.

We
face substantial competition, which may result in others discovering, developing or commercializing products before or more successfully
than us.

The
development and commercialization of new drug products is highly competitive. We may face competition with respect to any product candidates
that we seek to develop or commercialize in the future from major biopharmaceutical companies, specialty biopharmaceutical companies,
and biotechnology companies worldwide. Potential competitors also include academic institutions, venture capital firms, hedge funds,
government agencies, and other public and private research organizations that conduct research, seek patent protection, and establish
collaborative arrangements for research, development, manufacturing, and commercialization.

There
are a number of large biopharmaceutical and biotechnology companies that are currently pursuing the development of products, or already
have products in the market, for the treatment of cancer, fibrosis, and malaria. Although we believe that our approaches are unique,
there is no assurance that they will demonstrate advantages or even parity against competitive products from other companies, including
those with significant financial resources such as BristolMyersSquibb, Merck, Genentech, AstraZeneca/Daiichi Sankyo, Roche, Boehringer
Ingelheim, GSK, AbbVie, Novartis, United Therapeutics and Horizon, as well as emerging biotechnology companies such as Fibrogen, Pliant,
Galecto Biotech and Endeavor Biomedicines,