AKAO 2017 Annual Report

76 • delays in commercializing or obtaining regulatory approval for our product candidates; • any need to suspend or discontinue clinical trials due to side effects or other safety risks, or any need to conduct studies on the long-term effects associated with the use of our product candidates; • capital fundraising or other financing activities that contain onerous or unfavorable terms; • manufacturing issues related to our product candidates for clinical trials or future products for commercialization; • commercial success and market acceptance of our product candidates following regulatory approval; • undesirable side effects caused by product candidates after they have entered the market; • spread of bacterial resistance to our product candidates; • ability to discover, develop and commercialize additional product candidates; • announcements relating to collaborations that we may enter into with respect to the development or commercialization of our product candidates, or the timing of payments we may make or receive under these arrangements; • announcements relating to the receipt, modification or termination of government contracts or grants, or the timing of payments we may receive under these arrangements; • success of our competitors in discovering, developing or commercializing products; • delay or failure to successfully develop, validate and obtain regulatory clearance or approval of plazomicin IVD assay; • strategic transactions undertaken by us; • additions or departures of key personnel; • product liability claims related to our clinical trials or product candidates; • prevailing economic conditions; • business disruptions caused by earthquakes or other natural disasters; • disputes concerning our intellectual property or other proprietary rights; • litigation or the threat of litigation; • FDA or other U.S. or foreign regulatory actions affecting us or our industry; • healthcare reform measures in the United States or other countries; • sales of our common stock by our officers, directors or significant stockholders; • future sales or issuances of equity or debt securities by us; • fluctuations in our quarterly operating results; and • the issuance of new or changed securities analysts’ reports or recommendations regarding us. In addition, the stock markets in general, and the markets for pharmaceutical, biopharmaceutical and biotechnology stocks in particular, have experienced extreme volatility that has been often unrelated to the operating performance of the issuer. These broad market fluctuations may adversely affect the trading price or liquidity of our common stock. In the past, when the market price of a stock has been volatile, holders of that stock have sometimes