We have incurred, and will continue to incur, increased costs as a result of operating as a public company, and our management will be required to devote substantial time to new compliance initiatives and corporate governance practices.

        In some instances, there can be significant variability in safety or efficacy results between different clinical trials of the same product candidate due to numerous factors, including changes in trial procedures set forth in protocols, differences in the size and type of the patient populations, changes in and adherence to the dosing regimen and other clinical trial protocols and the rate of dropout among clinical trial participants. If we fail to receive positive results in clinical trials of our product candidates, the development timeline and regulatory approval and commercialization prospects for our most advanced product candidates, and, correspondingly, our business and financial prospects would be negatively impacted.

The Company determined that the transaction price at contract inception was $2.1 million consisting of the upfront, non-refundable payment. None of the clinical or regulatory milestones were included in the transaction price upon inception, as all milestone amounts were fully constrained. Management assessed that the likelihood of occurrence of the other performance obligations in the Agreement was remote upon contract inception. As such, the stand-alone value of such performance obligations was deemed de minimis and none of the transaction price was allocated to those obligations. Any consideration related to sales-based milestones and royalties will be recognized when the related sales occur, and therefore have also been excluded from the transaction price.

As a “foreign private issuer,” we are subject to the information reporting requirements of the Exchange Act that are applicable to foreign private issuers, and under those requirements file reports with the SEC. Those other reports or other information may be inspected without charge at the locations described above. As a “foreign private issuer,” we are exempt from the rules under the Exchange Act related to the furnishing and content of proxy statements, and our officers, directors and principal shareholders will be exempt from the reporting and “short-swing” profit recovery provisions contained in Section 16 of the Exchange Act with respect to their purchases and sales of ordinary shares. Furthermore, as a “foreign private issuer,” we are also not subject to the requirements of Regulation FD (Fair Disclosure) promulgated under the Exchange Act.

Dr Green has outlined a theory that cancer [his comment] is a state of unconstrained cell growth characteristic of free-living cells half a billion years ago, before there was multicellular life.

The route of administration, formulation or dose for zilucoplan, which we are currently developing for SC self-administration, may be inadequate.

We may need to maintain licenses for active ingredients from third parties to develop and commercialize some of our product candidates, which could increase our development costs and delay our ability to commercialize those product candidates.

        In October 2016, we closed our initial public offering. Prior to that offering, there had been no public market for our common stock. Although shares of our common stock are listed and trading on The Nasdaq Global Market, an active trading market for our shares may not continue to be sustained. If an active market for our common stock does not continue, it may be difficult for our stockholders to sell their shares without depressing the market price for the shares or sell their shares at or above the prices at which they acquired their shares or sell their shares at the time they would like to sell. Any inactive trading market for our common stock may also impair our ability to raise capital to continue to fund our operations by selling shares and may impair our ability to acquire other companies or technologies by using our shares as consideration.

Male Sprague-Dawley rats, weighing 95–105 g, were purchased from the Animal Center of Peking University Health Science Center. Animals were raised at a temperature of 20 ± 2 with 12/12-h light/dark cycles and fed with standard rat chow and water. Animal care was in compliance with institutional guidelines of the Peking University Animal Research Committee, and experimental protocols were approved by the Committee on the Ethics of Animal Experiments of the Health Science Center of Peking University (LA2013-72).

Penn, J. W., Grobbelaar, A. O. & Rolfe, K. J. The role of the TGF-beta family in wound healing, burns and scarring: a review. International journal of burns and trauma. 2, 18–28 (2012).

        We face an inherent risk of product liability lawsuits related to the testing of our product candidates in seriously ill patients and will face an even greater risk if product candidates are approved by regulatory authorities and introduced commercially. Product liability claims may be brought against us or our partners by participants enrolled in our clinical trials, patients, health care providers or others using, administering or selling any of our future approved products. If we cannot successfully defend ourselves against any such claims, we may incur substantial liabilities, which may result in:

As the key element in the interaction between blood flow and blood vessels, endothelial cell could modify a number of functions, such as vascular tension, platelet activity, tendency to thrombosis and fibrinolysis31. After being stained by H&E, the microscopic structures of rats’ carotid aortas were observed. Vascular endothelial cells of all administration treatment groups were protected (Fig. 2). Endothelial dysfunction characterized by a decrease in the bioavailability of vasodilator, like NO, as well as vascular complications have been observed in individuals32. In particular, as a cerebrovascular protector, endothelium-derived NO is considered as an important endogenous mediator of vascular homeostasis and blood flow33. The loss of endothelial NO impairs vascular function, partially by promoting vasoconstriction, platelet aggregation, smooth muscle cell proliferation, and leukocyte adhesion34. NO and cGMP jointly comprise a special wide-ranging signal transduction system when the multi roles of cGMP in physiological regulation are considered, including smooth muscle relaxation, visual transduction, intestinal ion transportation, and platelet function35. For example, increased cGMP in vascular smooth muscle cells underlying the endothelium activates GMP-dependent kinases that decrease intracellular calcium and producing relaxation36. β-BA treatment significantly increases NO and cGMP levels in both carotid aortas of blood stasis rats and OGD treated HUEVCs (Fig. 3).