Risk Factors Update Summary

• Enacted healthcare reform, drug measures, and recent legislative initiatives could adversely affect product revenues.
• Potential claims related to trade secrets from former employers could result in substantial costs.
• Recent legislative initiatives could negatively impact business, delay sustained profitability, and limit product revenues.
• Implementation of remote work model may negatively impact productivity and delay clinical programs.
• Increased organization size may impact development efforts, commercialization, and ability to successfully commercialize products.
• Increased risks associated with remote work model on IT systems and data security.
• Increased number of full-time employees from 400 to 1,200 as of December 31, 2022.
• Use of generative AI technologies may impact intellectual property rights and increase compliance costs.
• Accumulated deficit of $157.8 million as of December 31, 2023.
• Changes in data privacy laws and regulations may lead to increased compliance costs and regulatory scrutiny.
• Quarterly revenues, expenses, and operating results fluctuated significantly in the past and are likely to fluctuate in the future.
• Future capital requirements will depend on commercial success, technological developments, and impact of pandemics.