Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2572

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2572
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 rights or the clinical development of its product candidate
or program, could have a material adverse effect on our consolidated business, financial condition, results of operations or prospects.

We
may expend our limited resources to pursue a particular product candidate or indication and fail to capitalize on product candidates
or indications that may be more profitable or for which there is a greater likelihood of success.

Because
we have limited financial and managerial resources, we must focus on a limited number of research programs and product candidates and
on specific indications. As a result, we may forego or delay pursuit of opportunities with other product candidates or for other indications
that later prove to have greater commercial potential, or fail to recognize or acquire assets that may be more promising than those we
acquire. Our resource allocation decisions may cause us to fail to capitalize on viable commercial products or profitable market opportunities.
Our spending on current and future identification, discovery, and preclinical development programs and product candidates for specific
indications may not yield any commercially viable products.

Our
reliance on a central team consisting of a limited number of employees who provide various administrative, research and development,
and other services across our organization presents operational challenges that may adversely affect our business.

Some
of our officers and directors may serve as directors or officers of our subsidiaries, and, as a result, have and may continue to have,
fiduciary and other duties to our subsidiaries causing conflicts of interest with respect to their duties to us and their duties to our
subsidiaries and in determining how to devote themselves to our affairs and the affairs of our subsidiaries. Our subsidiaries’
partners may also disagree with the sufficiency of resources that we provide to each subsidiary.

70

Certain
of our officers, including our Executive Chairman and Director, Chirinjeev Kathuria, are also directors and/or officers of one or more
of our subsidiaries and, as a result, have fiduciary or other duties both to us and our subsidiaries. The conflicts of interest that
arise from such duties could interfere with the management of our subsidiaries and their programs and product candidates, or result in
disagreements with our subsidiaries’ partners. For example, an individual who is both our director and a director of one of our
subsidiaries, owes fiduciary duties to the subsidiary and to us as a whole, and such individual may encounter circumstances in which
his or her decision or action may benefit the subsidiary while having a detrimental impact on us, or vice versa, or on another subsidiary,
including