Risk Factors Update Summary

• The company's sole supplier of API for clinical trials is affiliated with WuXi AppTec, facing potential restrictions due to proposed legislation. This change poses a significant risk to the supply chain and ongoing trials.
• The company now contracts with a limited number of manufacturers for preclinical and clinical products, reducing reliance on one or two parties. This change could lead to improved control over the manufacturing process.
• The company faces risks related to artificial intelligence use, including security breaches and regulatory challenges. This change underscores the importance of data protection and potential reputational harm.
• The company's workforce increased from 110 to 140 full-time employees, indicating a 27% growth. This change suggests expanding operations and potential increased operational costs.
• The company's ability to access funding or finance operations could be significantly impaired due to financial industry factors. This change highlights potential liquidity constraints and operational disruptions.
• The company may be subject to various state privacy laws, potentially increasing compliance costs and legal risks. This change highlights the evolving regulatory environment and its impact on business operations.
• The company's executive officers, directors, and affiliates collectively hold approximately 40% of outstanding voting stock. This concentration of ownership may impact decision-making and governance.