Risk Factors Update Summary

• The IRA imposed additional pricing metrics as drug prices increase, potentially affecting revenue.
• Ongoing and continuing efforts to commercialize Cortrophin Gel since eight years, with FDA approval in October 2023.
• Increased exposure to tax liabilities, including foreign tax liabilities, due to operations in various jurisdictions.
• Spending a significant amount on Cortrophin Gel commercialization, with potential net product revenues.
• Transition from LIBOR to SOFR may impact interest expense related to outstanding debt.
• Transitioning from four to three manufacturing facilities, impacting product delivery timelines.
• Identified and remediated material weaknesses in internal controls over financial reporting.
• No impairment losses recognized in 2023, compared to an impairment of $0.1 million in 2022.
• Market price volatility of common stock could result in substantial costs and divert management's attention.
• Changes in estimates regarding the fair value of goodwill based on reporting units.