Risk Factors Update Summary

• Initiated a Phase 1 clinical trial for EDG-7500 in September 2023, adding to the pipeline.
• Increased federal NOL carryforwards from approximately $83 million to $109 million.
• Changed "DMD" to "Duchenne" throughout the risk factors, reflecting the specific disorder. This change clarifies the risk factors for investors.
• Increased net loss from $67 million in 2022 to $100 million in 2023.
• Raised $138 million through public offerings in January 2024, enhancing financial position.
• Estimated the patient population for Duchenne to be approximately 12,000 in the US and 25,000 in Europe, an increase from the previous estimate of 5,000. This change highlights a significant market size.
• Disclosed the receipt of a notice from Nasdaq regarding non-compliance with listing rules, requiring the Audit Committee to consist of at least three members. This change affects the company's stock listing status.
• Accumulated deficit rose from $144 million in 2022 to $244 million in 2023.
• Suspended and terminated the ATM Program in January 2024, impacting future fundraising strategies.
• Added information about the termination of a license agreement with The Ohio State Innovation Foundation, effective October 25, 2023. This change impacts the company's intellectual property rights.
• Noted the intention to file for additional equity or debt offerings, with a prospectus supplement covering up to $125 million. This change signals potential fundraising activities.
• Initiated a Phase 1 clinical trial for EDG-7500 in September 2023, expanding clinical development.
• Mentioned the termination of a license agreement due to the technology's irrelevance to the company's business. This change indicates a strategic shift in the company's focus.
• Stated the intention not to pay dividends for the foreseeable future, emphasizing reinvestment in the business. This change impacts investor expectations regarding returns.