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Risk Factors in our Annual Report on Form 10-K filed with the SEC on March 30, 2026, which could materially affect our business, financial condition, or future results.
−Removed: As of the date of this Quarterly Report on Form 10-Q, there have been no material changes to the risk factors disclosed in the Annual Report .
+Added: The risks described in Part I, Item 1A, “Risk Factors,” of our Annual Report on Form 10-K for
+Added: the year ended December 31, 2025 remain applicable to our business.
+Added: The following risk factors describe material developments or changes to those risks since the filing of our Annual Report.
+Added: The occurrence of any of these risks, or any of the risks previously disclosed, could materially and adversely affect our business, financial condition, results of operations and prospects.
+Added: Our July 2026 financing substantially increased the number of outstanding and potentially issuable shares and may continue to result in significant dilution and trading pressure.
+Added: In July 2026, we issued shares of common stock and pre-funded warrants and issued two-year and five-year milestone warrants tied to specified regulatory and clinical milestones.
+Added: Exercise of the pre-funded warrants would increase the number of outstanding shares for nominal proceeds, and exercise of the milestone warrants would result in further dilution.
+Added: The financing may also result in adjustments to the exercise price or number of shares underlying other outstanding warrants.
+Added: The existence of a large number of outstanding warrants and pre-funded warrants may adversely affect the market price of our common stock and our ability to raise capital on favorable terms.
Unregistered Sales of Equity Securities and Use of Proceeds
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.