Risk Factors Update Summary

• Anticipate substantial resources to be expended on future product development programs. This may result in increased expenses.
• Increased data privacy laws complexity and costs due to new foreign regulations and criminal prosecution risks.
• Need for additional financing highlighted due to substantial doubt about continuing as a going concern.
• Addition of new proposed legislation in the EU impacting operations, with a conclusion expected in 2024/2025.
• Potential significant negative impact on revenues and cash flows if BARDA funding is reduced by $423 million.
• Potential limitations on the use of net operating losses and tax attributes, affecting future cash flows.
• FDA clinical hold on Phase 2b CORAL Study may result in delays and additional expenses.
• Increase in outstanding common stock shares from 86 million to 97 million as of December 31, 2023.
• Reorganization of regulatory agencies may impact manufacturing processes and product development.
• Transition from an emerging growth company to a smaller reporting company and non-accelerated filer.
• Potential challenges in patient enrollment and monitoring due to historical issues related to the COVID-19 pandemic.
• Increased focus on cybersecurity measures due to vulnerabilities and potential data breaches.