Risk Factors Update Summary

• Net losses increased from $71.5 million in 2022 to $86.1 million in 2023.
• Beneficial ownership increased from 81.7% to 93.7%, with 815,267 to 914,880 shares outstanding.
• Cash and cash equivalents increased from $142 million to $143 million in 2023.
• The maximum shares reserved for issuance under the 2023 Inducement Plan increased to 1,976,427.
• Costs associated with expanding facilities increased from the third to the fourth quarter of 2024 to 2025.
• Increased compliance initiatives will result in significantly higher legal and financial costs.
• Full-time employees increased from 42 to 68 engaged in research and development activities.
• Failure to build finance infrastructure may lead to difficulties in compliance and investigations.
• Deferred tax assets increased from $32.7 million to $53.8 million as of December 31, 2023.
• Geopolitical tensions may impact clinical trials in Israel, potentially causing setbacks in product development.
• The number of full-time employees engaged in research and development activities increased from 42 to 68.
• Lack of insurance coverage for environmental liabilities poses a risk to business operations.
• The Connecticut Data Privacy Act went into effect on July 1, 2023.