Risk Factors Update Summary

• Europe's Unified Patent Court may impact patent protection, presenting uncertainties and challenges for enforcement.
• The company decided to discontinue development of SYNB1934, potentially leading to dissolution and liquidation.
• Failure to comply with federal regulations on intellectual property could limit exclusive rights and partnerships.
• Accumulated deficit increased from approximately $357 million to $414 million from 2022 to 2023.
• Reliance on third parties for product formulation, research, and studies may lead to delays.
• Net loss increased from approximately $57.3 million to $66.1 million from 2022 to 2023.
• Dependence on third-party supply partners for late-stage clinical trial drug supplies could impact operations.
• Potential competition from biosimilar products may arise sooner than anticipated, affecting market positioning.
• Difficulty in attracting and retaining high-quality personnel may limit product development and commercialization success.
• Non-compliance with Nasdaq's minimum bid price requirement could lead to delisting risks.