Risk Factors Update Summary

• Net losses decreased from $60.8 million to $52.5 million in 2023, with an accumulated deficit increasing from $375 million to $428 million.
• The bid price requirement for our common stock increased from $1.00 to $1.00 for 10 consecutive days.
• Operating expenses financed primarily from equity, with a revenue growth strategy to achieve continued growth.
• Cash, cash equivalents, and investments decreased from $138 million to $95 million as of December 31, 2023.
• Intellectual property challenges, including patent expiration in 2023 and 2024, may affect competitive position and product commercialization.
• Failure to regain compliance with the bid price requirement by July 31, 2024, may lead to delisting.
• Revenue primarily from consumables and service contracts, with observed revenue changes due to customer facility closures.
• Expansion challenges in drug manufacturing areas, such as biologics and cell and gene therapies, may impact operations.
• Potential delisting could reduce liquidity and result in a corresponding reduction in the market price.
• Commercial strategy shift to multi-system deals, expecting a significant portion of revenue from consumables and service contracts.
• Activist stockholders' initiatives may disrupt operations, divert management attention, and incur substantial costs.
• Failure to maintain effective internal controls could result in the loss of potential capital.
• Changes in tax laws may impact stockholders' sole source of gain and financial performance.
• Conditions in the banking system and financial markets could adversely affect our operations.