Risk Factors Update Summary

• "The California Privacy Rights Act of 2020" imposes additional obligations, effective January 1, 2023.
• Discontinued THB001 in 2022, announced new lead product THB335 nomination in July 2023.
• "Employees" replaced "personnel" in key research roles, impacting intellectual property protection.
• "The IRA" introduces significant changes in Medicare Part B and Part D pricing, effective January 1, 2024.
• Accumulated deficit increased from $83 million in 2022 to $114 million in 2023.
• "THB335 or any oral future KIT inhibitor product candidates" expanded to "THB335 and any oral future KIT inhibitor product candidates."
• "Accelerated filer" status triggers increased costs and management time for compliance and governance.
• Cash and cash equivalents decreased from $288 million to $269 million from 2022 to 2023.
• "25,508,705 shares" outstanding as of December 31, 2023, with certain rights.
• "The lack of an active trading market" may lead to a decline in the market value of common stock.
• Increased full-time employees from 28 to 30 from 2022 to 2023.
• Implemented measures to improve internal control over financial reporting and segregate duties.
• Increased emphasis on developing and commercializing THB335 and future oral KIT inhibitor product candidates.
• Potential delays or difficulties in clinical trials due to ongoing impacts of the COVID-19 pandemic.