Risk Factors Update Summary

• Doubt exists about the ability to continue as a going concern, requiring additional funding.
• U.S. federal and state net operating loss carryforwards increased from $65 million to $86 million.
• Added a new clinical trial for CAN-2409 in pancreatic cancer with up to 54 patients.
• Seeking fast track designation for CAN-3110 and future product candidates, with no assurance of FDA approval.
• Issued 109,485 shares of common stock under ATM Program, generating $0.2 million in net proceeds.
• Enrollment paused in a randomized phase 2 clinical trial for pancreatic cancer, presented initial data.
• Phase 3 clinical trial for CAN-2409 in prostate cancer fully enrolled with 711 patients.
• FDA granted fast track designation for CAN-2409 plus valacyclovir in NSCLC to improve survival.
• Potential delisting from Nasdaq due to stock price volatility below $1.00 per share.
• Reported prolonged survival with CAN-2409 in pancreatic cancer, showing 71.4% survival rate.
• Loss of CFO Jason A. Amello, replaced by Charles Schoch, may impact financial operations.
• Identified material weaknesses in internal controls over financial reporting, with potential future weaknesses.
• Organizational restructuring led to a significant reduction in the workforce from 76 to 42 employees.
• Positive interim overall survival data for CAN-2409 in pancreatic cancer presented in Q4 2023.
• Total outstanding shares of common stock increased from 28,919,347 to 29,810,468.
• Doubt regarding the company's ability to continue as a going concern due to financial challenges.
• Ongoing investigator-sponsored Phase 1/1b trial with CAN-3110 achieved 11.8 months mOS.
• Entered into a loan agreement with Silicon Valley Bank, with a balance of $5 million.
• CAN-3110 showed nearly doubling of expected mOS in recurrent HGG after a single injection.
• Agreement with the FDA on the design and size of a pivotal phase 3 clinical trial for CAN-2409.
• CAN-2409 Phase 2 trial in pancreatic cancer paused for new enrollment, data expected in Q2 2024.