SHOULDER INNOVATIONS, INC.
For the period ended Sep 30, 2025. Filed Nov 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 12, 2025
SI$21.46+4.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
| Page | |
|---|---|
| Special Note Regarding Forward-Looking Statements | 2 |
| Risk Factors Summary | 3 |
| Part I - Financial Information | |
| Item 1. Financial Statements (unaudited) | 5 |
| Condensed Balance Sheets | 5 |
| Condensed Statements of Operations and Comprehensive Loss | 7 |
| Condensed Statements of Changes in Convertible Preferred Stock and Stockholder’s Equity (Deficit) | 8 |
| Condensed Statements of Cash Flows | 10 |
| Notes to the Unaudited Condensed Financial Statements | 12 |
| Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations | 20 |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk | 31 |
| Item 4. Controls and Procedures | 32 |
| Part II - Other Information | |
| Item 1. Legal Proceedings | 33 |
| Item 1A. Risk Factors | 33 |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds | 82 |
| Item 3. Defaults Upon Senior Securities | 83 |
| Item 4. Mine Safety Disclosures | 83 |
| Item 5. Other Information | 83 |
| Item 6. Exhibits | 83 |
| Signatures | 85 |
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