Risk Factors Update Summary

• We may not be able to file Investigational New Drug applications to commence additional clinical trials on the timelines we expect. This could result in delays in commencing trials.
• We had $18 million in cash as of December 31, 2023, which will only fund our operations into January 2025. This indicates a decrease in available cash.
• We had 26 full-time employees as of December 31, 2023, which increased to 31 full-time employees. This signifies a 19% increase in the workforce.
• We had accumulated deficit of $61.2 million as of December 31, 2023, which increased to $91.2 million. This shows a significant increase in accumulated deficit.
• We had 64% of outstanding common stock owned by executives, directors, and stockholders as of December 31, 2023, which increased to 73%. This indicates increased ownership concentration.
• We had 574,241 Pre-funded Warrants, 11,823,829 Series A Warrants, and 11,823,829 Series B Warrants outstanding as of December 31, 2023. This shows a significant number of warrants outstanding.
• We had 12 other issued foreign patents and 49 other foreign national-stage applications as of December 31, 2023, which increased from 10 and 45, respectively. This indicates an increase in patent applications.