As of March 6, 2021, 144,354,161 shares of common stock were outstanding. The effects of LX9211 will be assessed over an 11-week evaluation period. Certain patient-reported outcome measures will also be assessed. Insulin therapy was optimized in patients over a 6-week period prior to dosing. Bristol-Myers Squibb extended the target discovery term of the alliance in May 2006. Our quality department audits these suppliers on a periodic basis. Submission of an IND may not result in FDA authorization to commence a clinical trial. These laws could create liability for us or increase our cost of doing business. He received his B.A. and J.D. from the University of Texas. In some cases, we or our collaborators may not be able to complete the trial at all. As of December 31, 2020, we had an accumulated deficit of $1.4 billion. Any of our present or future collaborators may not perform their obligations as expected. In some cases, patents have issued, and may issue in the future, from these applications. Invus has designated three of the nine current members of our board of directors. Excessive volatility may continue for an extended period of time. We filed a response brief on February 18, 2021. As of March 6, 2021, there were approximately 327 holders of record of our common stock. Selected Financial Data Not applicable.35Item 7. Service fees were also deducted from product sales as they were earned. The allowance for chargeback was based on known sales to contracted customers. The drug development process takes many years to complete. There were no significant impairments of long-lived assets in 2019 or 2018. Accordingly, we have not had any material exposure to foreign currency rate fluctuations. We conducted our audits in accordance with the standards of the PCAOB. We believe that our audits provide a reasonable basis for our opinion. Net realized gains and losses, interest and dividends are included in interest income. See Note 4, Asset Sale, for additional information relating to inventory. The Company has not experienced any significant credit losses to date. In 2020, customers in the United States represented 98% of revenue. Maintenance, repairs and minor replacements are charged to expense as incurred. The impairment reduced the remaining book value to zero. The Company expected that its customers would earn prompt payment discounts. The allowance for rebates is based on statutory discount rates and expected utilization. Product shipping and handling costs were included in cost of sales. The Black-Scholes option-pricing model requires the input of subjective assumptions. Historical data is used to estimate the expected option life for each group. The Company uses the liability method in accounting for income taxes. The Company incurred and recognized severance charges of approximate $5.5 million. Refer to Note 10, Debt Obligations, for fair value measurements of debt obligations. The federal and state NOL carryforwards will begin to expire in 2024. This test did not result in an impairment of goodwill.10. At December 31, 2020, the intrinsic value of exercisable stock options was zero. As such, the Company did not include those payments in the allocable consideration. Our board of directors currently consists of nine members, divided into three classes. the Sarbanes-Oxley Act, 18 U.S.C. § 1514A, et seq., the New Jersey Family Leave Act, N.J.S.A. 34:11B-1, et seq., Employee specifically waives any rights or claims under the ADEA&
