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Item 9A. Controls and Procedures

2025-03-31 compared with 2024-03-29 · 1024 added, 952 removed, 165 unchanged (92% of the section changed)

CONTROLS AND PROCEDURES.

Disclosure controls

and procedures.

controls and procedures.

The Company, under the supervision and with the participation of its management, including the Company’s

principal executive officer and principal financial and accounting officer, evaluated the effectiveness of the Company’s “disclosure

controls and procedures,” as such term is defined in Rule 13a-15(e) and 15d-15(e) under the Securities Act of 1934, as amended (the

“Exchange Act”), as of the end of the period covered by this Annual Report on Form 10-K.

Based on that evaluation, the Company’s

principal executive officer and principal financial and accounting officer have concluded that the Company’s disclosure controls

and procedures are effective as of December 31, 2023 to ensure that information required to be disclosed by the Company in reports that

it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in Securities

and Exchange Commission rules and forms, and includes controls and procedures designed to ensure that information required to be disclosed

by the Company in such reports is accumulated and communicated to the Company’s management, including the Company’s principal

executive officer and principal financial and accounting officer, as appropriate, to allow timely decisions regarding required disclosure.

Management’s Annual

Report on Internal Control Over Financial Reporting.

The Company’s management is responsible for establishing and maintaining

adequate internal control over financial reporting.

The Company’s internal control over financial reporting is a process designed

to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external

purposes in accordance with generally accepted accounting principles.

The Company’s internal

control over financial reporting includes policies and procedures that (1) pertain to the maintenance of records that, in reasonable

detail, accurately and fairly reflect transactions and dispositions of assets;

(2) provide reasonable assurances that transactions

are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and

that receipts and expenditures are being made only in accordance with authorizations of management and the directors of the Company;

(3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the

Company’s assets that could have a material effect on our financial statements.

Because of its inherent limitations,

internal control over financial reporting may not prevent or detect misstatements.

Also, projections of any evaluation of effectiveness

to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of

compliance with the policies or procedures may deteriorate.

Management assessed the effectiveness

of the Company’s internal control over financial reporting as of December 31, 2023.

In making this assessment, management used the

criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated Framework

Based on its assessment and those criteria, management concluded that as of December 31, 2023, the Company’s internal control

over financial reporting was effective.

This Annual Report on Form

10-K does not include an attestation report from our registered public accounting firm regarding internal control over financial reporting.

Our internal control over financial reporting was not subject to such attestation as we are a non-accelerated filer.

Changes in internal

controls over financial reporting .

There were no changes in the Company’s internal controls over financial reporting that

occurred during the fourth quarter of the fiscal year covered by this Annual Report on Form 10-K that have materially affected, or are

reasonably likely to materially affect, the Company’s internal control over financial reporting.

controls and procedures,” as such term is defined in Rule 13a-15(e) and 15d-15(e) under the Securities Act of 1934, as amended

(the “Exchange Act”), as of the end of the period covered by this Annual Report on Form 10-K.

Based on that evaluation, the

Company’s principal executive officer and principal financial and accounting officer have concluded that the Company’s disclosure

controls and procedures are effective as of December 31, 2024 to ensure that information required to be disclosed by the Company in reports

that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in

Securities and Exchange Commission rules and forms, and includes controls and procedures designed to ensure that information required

to be disclosed by the Company in such reports is accumulated and communicated to the Company’s management, including the Company’s

principal executive officer and principal financial and accounting officer, as appropriate, to allow timely decisions regarding required

Annual Report on Internal Control Over Financial Reporting.

The Company’s management is responsible for establishing

and maintaining adequate internal control over financial reporting.

The Company’s internal control over financial reporting is

a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial

statements for external purposes in accordance with generally accepted accounting principles.

Company’s internal control over financial reporting includes policies and procedures that (1) pertain to the maintenance of

records that, in reasonable detail, accurately and fairly reflect transactions and dispositions of assets;

(2) provide reasonable

assurances that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted

accounting principles, and that receipts and expenditures are being made only in accordance with authorizations of management and the

directors of the Company;

and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition,

use or disposition of the Company’s assets that could have a material effect on our financial statements.

of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.

Also, projections of

any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions,

or that the degree of compliance with the policies or procedures may deteriorate.

assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, 2024.

In making this assessment,

management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated

Framework (2013).

Based on its assessment and those criteria, management concluded that as of December 31, 2024, the Company’s

internal control over financial reporting was effective.

Annual Report on Form 10-K does not include an attestation report from our registered public accounting firm regarding internal control

over financial reporting.

Our internal control over financial reporting was not subject to such attestation as we are a non-accelerated

in internal controls over financial reporting .

There were no changes in the Company’s internal controls over financial

reporting that occurred during the fourth quarter of the fiscal year covered by this Annual Report on Form 10-K that have materially

affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

OTHER INFORMATION.

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.

Not applicable.

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Directors and Executive Officers

The names, positions and ages of our directors and executive officers

as of March 29, 2024, are as follows:

and Executive Officers

names, positions and ages of our directors and executive officers as of March 28, 2025, are as follows:

Chairman and Chief Executive Officer

Steve O’Loughlin

Chief Financial Officer (Principal Financial and Accounting Officer)

Chief Financial Officer (Principal Financial and Accounting

Almenoff, M.D., Ph.D.

David Nicholson, Ph.D.

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Shetty, Ph.D.

Directors hold office for

a term consistent with classified board provisions of our Charter.

hold office for a term consistent with classified board provisions of our Charter.

For further information, see the section titled “—Corporate

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Officers serve at the discretion of the Board of Directors.

There are no other arrangements

or understanding between any of our directors and any other persons pursuant to which they were selected as a director.

Background of Executive Officers and Directors

The principal occupations

for the past five years (and, in some instances, for prior years) of each of our directors and executive officers are as follows:

Sandesh Seth, Chairman and Chief Executive Officer

Sandesh Seth has been

our Chief Executive Officer since June 2017.

Seth has been a Director since March 2012, our Chairman of the Board since October 2013,

and served as Executive Chairman from August 2014 to June 2017.

Seth has 25+ years of experience in investment

banking (Laidlaw& Co (UK) Ltd., Cowen & Co.), equity research (Bear Stearns, Commonwealth Associates) and in the pharma industry

(Pfizer, Warner-Lambert, SmithKline in strategic planning, business development and R&D project management).

Seth was chairman

of Relmada Therapeutics Inc., a specialty pharma company focused on CNS therapeutics, which he helped co-found.

Seth has an MBA in

Finance from New York University;

in the Pharmaceutical Sciences from the University of Oklahoma Health Center and a B.Sc.

Chemistry from Bombay University.

He has published several scientific articles and was awarded the University Regents Award for Research

Excellence at the University of Oklahoma.

Seth was designated as Regulatory Affairs Certified by the Regulatory Affairs Professionals

Society which signifies proficiency with U.S.

are no other arrangements or understanding between any of our directors and any other persons pursuant to which they were selected

as a director.

of Executive Officers and Directors

principal occupations for the past five years (and, in some instances, for prior years) of each of our directors and executive officers

are as follows:

Seth, Chairman and Chief Executive Officer

Seth has been our Chief Executive Officer since June 2017.

Seth has been a Director since March 2012, our Chairman

of the Board since October 2013, and served as Executive Chairman from August 2014 to June 2017.

Seth has 25 plus years

of experience in investment banking (Laidlaw& Co (UK) Ltd., Cowen & Co.), equity research (Bear Stearns, Commonwealth Associates)

and in the pharma industry (Pfizer, Warner-Lambert, SmithKline in strategic planning, business development and R&D project management).

Seth was chairman of Relmada Therapeutics Inc., a specialty pharma company focused on CNS therapeutics, which he helped co-found.

Seth has an MBA in Finance from New York University;

in the Pharmaceutical Sciences from the University of Oklahoma

Health Center and a B.Sc.

in Chemistry from Bombay University.

He has published several scientific articles and was awarded the University

Regents Award for Research Excellence at the University of Oklahoma.

Seth was designated as Regulatory Affairs Certified by the

Regulatory Affairs Professionals Society which signifies proficiency with U.S.

FDA regulations.

He has several patents related to use of radiopharmaceuticals as conditioning

agents for adoptive cell therapies and as therapeutic combinations.

Seth has served in various business executive-level

positions over the course of his career, has significant investment banking experience, has developed significant management, operational

and leadership skills and is well accustomed to interfacing with investors, analysts, auditors, C-level executives, and outside advisors,

led us to conclude that Mr.

He has several patents related to

the use of radiopharmaceuticals as conditioning agents for adoptive cell therapies and as therapeutic combinations.

Seth has served in various business executive-level positions over the course of his career, has significant investment banking

experience, has developed significant management, operational and leadership skills and is well accustomed to interfacing with investors,

analysts, auditors, C-level executives, and outside advisors, led us to conclude that Mr.

Seth should serve as a director.

Steve O’Loughlin, Chief Financial Officer

Steve O’Loughlin has

been our Chief Financial Officer since August 2020.

O’Loughlin served as our Principal Financial Officer from May 2017 to August

O’Loughlin joined Actinium in October 2015 as Vice President, Finance and Corporate Development, with almost a decade

of life sciences industry experience gained from previous positions in investment banking and publicly traded life sciences companies.

O’Loughlin, Chief Financial Officer

O’Loughlin has been our Chief Financial Officer since August 2020.

O’Loughlin served as our Principal Financial

Officer from May 2017 to August 2020.

O’Loughlin joined Actinium in October 2015 as Vice President, Finance

and Corporate Development, with almost a decade of life sciences industry experience gained from previous positions in investment banking

and publicly traded life sciences companies.

Prior to Actinium, from June 2015 to October 2015, Mr.

O’Loughlin worked at J.

Streicher LLC as an investment banker, from August

2012 to June 2015.

O’Loughlin held the position of vice president, corporate finance and development and was a corporate officer

at Protea Biosciences, Inc., a publicly traded life sciences tools company.

O’Loughlin worked

Streicher LLC as an investment banker, from August 2012 to June 2015 Mr.

O’Loughlin held the position

of vice president, corporate finance and development and was a corporate officer at Protea Biosciences, Inc., a publicly traded life

sciences tools company.

Previously, From June 2010 to June 2012, Mr.

held corporate development positions with Caliber I.D., a publicly traded diagnostics company.

O’Loughlin previously worked

in investment banking at Jesup & Lamont where he focused on the biotechnology and life sciences industries.

O’Loughlin has

in Business Administration with a concentration in finance from Ramapo College of New Jersey.

O’Loughlin held corporate development positions

with Caliber I.D., a publicly traded diagnostics company.

O’Loughlin previously worked in investment banking at Jesup &

Lamont where he focused on the biotechnology and life sciences industries.

O’Loughlin has a B.S.

in Business Administration

with a concentration in finance from Ramapo College of New Jersey.

Almenoff, M.D., Ph.D., Director

has been a Director of the Company since November 2024 and is a member of our Nominating and Corporate Governance Committee.

is an accomplished biopharma executive with 25 years of senior leadership experience.

She currently serves as a Board Director and

advisor to management of numerous biopharma companies.

Almenoff served as President and Chief Medical Officer of Furiex Pharmaceuticals,

which was acquired by Actavis plc (now AbbVie) for $1.2B.

Furiex developed eluxadoline (Viberzi ® ), which was approved

both in the United States and Europe.

She also served as Chief Medical Officer of RedHill Biopharma Ltd (Nasdaq:

RDHL) leading a

team that was instrumental in positioning Talicia ® as a first-line therapy.

Earlier in her career, Dr.

at GlaxoSmithKline (GSK) for 12 years, where she held various positions of increasing responsibility.

She was a Vice President in

the Clinical Safety Organization, chaired a PhRMA-FDA working group, and worked in the area of scientific licensing.

also led the development of pioneering data analytics systems, which have been widely adopted by industry and regulators to minimize

clinical risk for both development and marketed drugs.

has strong expertise in translational medicine, clinical development, commercial strategy, and business development across many

therapeutic areas.

Almenoff has led or contributed to numerous regulatory submissions, product approvals and launches.

Almenoff is currently a member of the investment advisory board of the Harrington Discovery Institute (a venture philanthropy) and

an Executive Venture Partner, part time, at 82 Venture Studios, which is affiliated with Alloy Ventures.

She is a member of the

Board of Directors of Avalo

Therapeutics, Inc.

AVTX) and Tenax Therapeutics (Nasdaq:

She previously served as a member of the board of

directors of TiGenix NV (formerly Nasdaq:

TIG), which was acquired by Takeda, Brainstorm Cell Therapeutics (Nasdaq:

BCLI), and OHR

Pharmaceutical (formerly Nasdaq:

received her B.A.

cum laude from Smith College and graduated with AOA honors from the M.D.-Ph.D.

program at the Icahn (Mt.

Sinai) School

She completed post-graduate medical training at Stanford University Medical Center and served on the faculty of Duke University

School of Medicine.

She is an adjunct professor at Duke, a Fellow of the American College of Physicians (FACP) and has authored over

70 publications.

Almenoff brings over 25 years of drug development experience having served in executive-level leadership roles as Chief

Medical Officer where she contributed to the approval of novel therapies as well as business development activities and that she advises

and serves on the board of several biopharmaceutical companies led us to conclude that Dr.

Almenoff should serve as a director.

Chell, M.D., Director

Chell has been a Director of the Company since

has been a Director of the Company since April 2018.

Chell is also a member of our Audit Committee and Compensation Committee.

He has been the chief executive officer emeritus

of the National Marrow Donor Program (“NMDP”) since 2017 having served as its chief executive officer since 2000.

has led the NMDP through transformational growth as its Be The Match Registry tripled to more than 12 million donors, the number of transplants

facilitated has grown fivefold to over 6,400 annually, and revenue more than tripled to nearly $400 million per year.

He is also the co-founder

and has served as executive director of the Center For International Blood & Marrow Transplant Research since 2004, a leading research

program in the field contributing over 70 research publications per year in peer-reviewed journals.

Chell also currently serves as

chair of CLR Insurance, a captive insurance company domiciled in the Cayman Islands.

He has been the chief executive officer emeritus of the National Marrow Donor Program (“NMDP”) since 2017 having served as

its chief executive officer since 2000.

Chell has led the NMDP through transformational growth as its Be The Match Registry

tripled to more than 12 million donors, the number of transplants facilitated has grown fivefold to over 6,400 annually, and revenue

more than tripled to nearly $400 million per year.

He is also the co-founder and has served as executive director of the Center

For International Blood & Marrow Transplant Research since 2004, a leading research program in the field contributing over 70 research

publications per year in peer-reviewed journals.

Chell serves as the President of the Jeff Gordon Children’s Foundation,

a non-profit that funds innovative research and therapy for pediatric cancer patients.

He also currently serves as chair of CLR Insurance,

a captive insurance company domiciled in the Cayman Islands.

From 2014 to 2016, Dr.

Chell served as co-chair of

Bone Marrow Donors Worldwide during its IT transformation project, improving revenues and reducing costs.

Prior to joining the NMDP,

he served as president, Allina Medical Clinics, a 450 physician multi-specialty medical group from 1994 to 1999.

Prior to that, he practiced

Internal Medicine in Minneapolis and in the U.S.

Chell served as co-chair of Bone Marrow Donors

Worldwide during its IT transformation project, improving revenues and reducing costs.

to joining the NMDP, he served as president, Allina Medical Clinics, a 450 physician multi-specialty medical group from 1994 to 1999.

Prior to that he practiced Internal Medicine in Minneapolis and in the U.S.

Air Force Medical Corps.

Chell received his M.D.

received his M.D.

from the University of Minnesota and his training in Internal Medicine at the University of Wisconsin, Madison.

Chell is a diplomate

of the American Board of Internal Medicine, a member of the American Society of Hematology and a member of the American Society of Blood

and Marrow Transplantation.

He has received multiple honors

including the 2018 Public Service award of the American Society For Blood and Marrow Transplantation, 2017 Most Admired CEO by the Minneapolis/St.

Paul Business Journal, 2010 Healthcare Executive of the Year by the Minneapolis/St, Paul Business Journal, and the 2017 Bone Marrow Foundation

Service Award.

Chell brings many

years of experience with patient donor programs, knowledge of challenges related to bone marrow transplants, leadership of organizations

and experience working in medical groups to our Board, led us to conclude that Dr.

Chell should serve as a director.

David Nicholson, Ph.D., Director

David Nicholson Ph.D.

serves as our Lead Independent

Director of our Board and has been a Director of the Company since 2008.

Nicholson is also a member of our Compensation Committee

and our Nominating and Corporate Governance Committee.

is a diplomate of the American Board of Internal Medicine, a member of the American Society of Hematology and a member of the American

Society of Blood and Marrow Transplantation.

has received multiple honors including the 2018 Public Service award of the American Society For Blood and Marrow Transplantation, 2017

Most Admired CEO by the Minneapolis/St.

Paul Business Journal, 2010 Healthcare Executive of the Year by the Minneapolis/St, Paul Business

Journal, and the 2017 Bone Marrow Foundation Service Award.

Chell brings many years of experience with patient donor programs, knowledge of challenges related to bone marrow transplants,

leadership of organizations and experience working in medical groups to our Board, led us to conclude that Dr.

Chell should serve

as a director.

Nicholson, Ph.D., Director

Nicholson Ph.D., serves as our Lead Independent Director of our Board and has been a Director of the Company since 2008.

is also a member of our Compensation Committee.

Since March 2015, Dr.

Nicholson served as Executive Vice President and Chief R&D

Officer of Allergan, which was acquired by Abbvie in May 2020.

Nicholson served as Executive Vice President and Chief

R&D Officer of Allergan, which was acquired by Abbvie in May 2020.

In August 2014, Dr.

Nicholson joined Allergan (previously known as Actavis

plc and Forest Laboratories, Inc.) as senior vice president, Actavis Global Brands R&D.

From March 2012 to August 2014, Dr.

was on the executive committee of Bayer CropScience as head of research & development responsible for the integration of the company’s

R&D activities into one global organization.

Nicholson graduated in pharmacology, earning his B.Sc.

from the University of Manchester

(1975) and his Ph.D.

Nicholson joined Allergan (previously

known as Actavis plc and Forest Laboratories, Inc.) as senior vice president, Actavis Global Brands R&D.

From March 2012

to August 2014, Dr.

Nicholson was on the executive committee of Bayer CropScience as head of research & development

responsible for the integration of the company’s R&D activities into one global organization.

Nicholson graduated

in pharmacology, earning his B.Sc.

from the University of Manchester (1975) and his Ph.D.

from the University of Wales (1980).

Between 1978 and 1988, Dr.

Nicholson worked in the pharmaceutical industry for

the British company Beecham-Wülfing in Gronau, Germany.

The main emphasis of his activities as group leader in a multidisciplinary project

group was the development of cardiovascular drugs.

From 1988-2007, Dr.

held various positions of increasing seniority in the UK, the Netherlands and the U.S.

with Organon, a business unit of Akzo Nobel.

he became executive vice president, research & development, and member of the Organon Executive Management Committee.

He implemented

change programs, leading to maximizing effectiveness in research & development, ensuring customer focus and the establishment of a

competitive pipeline of innovative drugs.

Nicholson transferred to Schering-Plough, Kenilworth, New Jersey as senior vice

president, responsible for Global Project Management and Drug Safety.

From 2009 to December 2011, he was vice president licensing and

knowledge management at Merck in Rahway, New Jersey, reporting to the president of Merck R&D.

As an integration team member, Dr.

played a role in the strategic mergers of Organon BioSciences, the human and animal health business of Dutch chemical giant Akzo-Nobel,

and Schering-Plough in 2007 as well as of Schering-Plough and Merck in 2009.

Dr Nicholson brings a wealth of experience having previously

championed the breakthrough anti-PD1 cancer drug Keytruda® (pembrolizumab) all the way from its earliest research and into development,

heralding a revolution in cancer therapy.

Nicholson brings over 40 years of pharmaceutical experience

to our Board, having served in various pharmaceutical research and development executive-level positions over the course of his career,

that he presently serves on the Boards of multiple biotechnology companies, and that Dr.

Nicholson has developed significant management

and leadership skills relating to the pharmaceutical industry and is well accustomed to interfacing with investors, analysts, auditors,

outside advisors and governmental officials, led us to conclude that Dr.

Nicholson should serve as a director.

1978 and 1988, Dr.

Nicholson worked in the pharmaceutical industry for the British company Beecham-Wülfing in Gronau, Germany.

The main emphasis of his activities as group leader in a multidisciplinary project group was the development of cardiovascular drugs.

From 1988-2007,

Nicholson held various positions of increasing seniority in the UK, the Netherlands and the U.S.

with Organon, a business

unit of Akzo Nobel.

Ultimately, he became executive vice president, research & development, and member of the Organon Executive

Management Committee.

He implemented change programs, leading to maximizing effectiveness in research & development, ensuring

customer focus and the establishment of a competitive pipeline of innovative drugs.

Nicholson transferred to Schering-Plough,

Kenilworth, New Jersey as senior vice president, responsible for Global Project Management and Drug Safety.

From 2009 to December 2011,

he was vice president licensing and knowledge management at Merck in Rahway, New Jersey, reporting to the president of Merck R&D.

an integration team member, Dr.

Nicholson played a role in the strategic mergers of Organon BioSciences, the human and animal health

business of Dutch chemical giant Akzo-Nobel, and Schering-Plough in 2007 as well as of Schering-Plough and Merck in 2009.

brings a wealth of experience having previously championed the breakthrough anti-PD1 cancer drug Keytruda ® (pembrolizumab)

all the way from its earliest research and into development, heralding a revolution in cancer therapy.

Nicholson brings over 40 years of pharmaceutical experience to our Board, having served in various pharmaceutical

research and development executive-level positions over the course of his career, that he presently serves on the Boards of Adverum

Biotechnologies, Rapalogix Health, Wild Biosciences and Volastra Therapeutics, and that Dr.

Nicholson has developed significant

management and leadership skills relating to the pharmaceutical industry and is well accustomed to interfacing with investors,

analysts, auditors, outside advisors and governmental officials, led us to conclude that Dr.

Nicholson should serve as a

Shetty, Ph.D., Director

Shetty has been a Director

of the Company since March 2017.

Shetty is also a member of our Audit Committee, Compensation Committee, and Chairman of our Nominating

and Corporate Governance Committee.

has been a Director of the Company since March 2017.

Shetty is also a member of our Audit Committee, Compensation Committee,

and Chairman of our Nominating and Corporate Governance Committee.

Shetty joined Janssen Pharmaceutical, Inc.

(“Janssen”) in 1976 ultimately rising to

the position of president in 1986 where he led the establishment of Janssen’s business in the U.S.

From 1999 to 2008 he was managing

director of Janssen, during this time the Janssen Group of companies’ global sales grew from $1 billion to $8 billion, and from

2004 until 2012 he was chairman of the board of directors.

Shetty’s most recent role at Johnson & Johnson he was head

of Enterprise Supply Chain, where he reported to the chief executive officer and was responsible for the transformation and optimization

of Johnson & Johnson’s supply chain.

in 1976 ultimately rising to the position of president in 1986 where he led the establishment of Janssen’s business in the U.S.

1999 to 2008 he was managing director of Janssen, during this time the Janssen Group of companies’ global sales grew from $1 billion

to $8 billion, and from 2004 until 2012 he was chairman of the board of directors.

Shetty’s most recent role at

Johnson & Johnson he was head of Enterprise Supply Chain, where he reported to the chief executive officer and was responsible

for the transformation and optimization of Johnson & Johnson’s supply chain.

Shetty earned a Ph.D.

in Metallurgy and B.A.

Natural Sciences from Trinity College,

Cambridge University and a Master of Business Administration from Carnegie Mellon University.

Shetty was bestowed the title

of Baron by King Albert II of Belgium for his exceptional merits.

In addition, he was elected Manager of the Year in 2004 in Flanders

and received a Life-Time Achievement Award in India in 2010.

Shetty was named as chairperson of the Vlaams Instituut voor

Biotechnologie (VIB), a Belgium based life sciences research institute focused on translating scientific results into pharmaceutical,

agricultural and industrial applications.

Shetty has served as a member of Agile Therapeutics, Inc.’s board of directors from

February 2016 until May 2023.

in Metallurgy

Natural Sciences from Trinity College, Cambridge University and a Master of Business Administration from Carnegie Mellon

Shetty was bestowed the title of Baron by King Albert II of Belgium for his exceptional merits.

addition, he was elected Manager of the Year in 2004 in Flanders and received a Life-Time Achievement Award in India in 2010.

Shetty was named as chairperson of the Vlaams Instituut voor Biotechnologie (VIB), a Belgium based life sciences research institute

focused on translating scientific results into pharmaceutical, agricultural and industrial applications.

Shetty has served as

a member of Agile Therapeutics, Inc.’s board of directors from February 2016 until May 2023.

We believe Dr.

Shetty’s qualifications to sit on our Board include his extensive pharmaceutical experience

leading commercial and supply chain operations and his significant education background.

Shetty has more than

30 years of leadership and executive experience in the pharmaceutical industry, that he has significant supply chain knowledge and that

he has experience conducting business in the U.S.

qualifications to sit on our Board include his extensive pharmaceutical experience leading commercial and supply chain operations and

his significant educational background.

Shetty has more than 30 years of leadership and executive experience in the pharmaceutical industry, that he has significant

supply chain knowledge and that he has experience conducting business in the U.S.

and Europe, led us to conclude that Dr.

Shetty should serve as a director.

should serve as a director.

Steinhart, Director

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Since October 2017 Mr.

Steinhart has been the senior vice president and chief financial officer of

BioXcel Therapeutics, Inc.

Steinhart has been the senior vice president and chief financial officer

of BioXcel Therapeutics, Inc.

Since March 2014, Mr.

Steinhart has been a member of the board of directors of Atossa Genetics, Inc.

Steinhart has been a member of the board of directors of Atossa Genetics,

where he is chairman of the audit committee and a member of the compensation committee.

From October 2015 to April 2017, Mr.

From October 2015 to April 2017,

Steinhart was vice president and chief financial officer at Remedy Pharmaceuticals, a privately-held, clinical stage pharmaceutical

company that sold its only asset, CIRARA, to Biogen for $120 million plus earn-outs.

company that sold its only asset, CIRARA, to Biogen for $120M plus earn-outs.

From January 2014 through September 2015 Mr.

Steinhart worked as a financial and strategic consultant to the biotechnology and medical device industries.

worked as a financial and strategic consultant to the biotechnology and medical device industries.

Previously, Mr.

Steinhart was senior vice president, finance and chief financial officer at MELA Sciences, Inc.

from April 2012 until December 2013,

having previously served as vice president, finance and chief financial officer, treasurer and secretary from April 2006.

Steinhart was

senior vice president, finance and chief financial officer at MELA Sciences, Inc.

from April 2012 until December 2013, having

previously served as vice president, finance and chief financial officer, treasurer and secretary from April 2006.

From May 1992

until joining MELA Sciences, Mr.

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banking, venture capital, and management consulting firm focused on healthcare and technology companies.

Prior to Forest Street

Capital/SAE Ventures, he was vice president and chief financial officer of Emisphere Technologies, Inc.

Steinhart’s other

experience includes seven years at CW Group, Inc., a venture capital firm focused on medical technology and biopharmaceutical

companies, where he was a general partner and chief financial officer.

Steinhart began his career at Price Waterhouse, now known

as PricewaterhouseCoopers.

Prior to Forest Street Capital/SAE

Ventures, he was vice president and chief financial officer of Emisphere Technologies, Inc.

Steinhart’s other experience

includes seven years at CW Group, Inc., a venture capital firm focused on medical technology and biopharmaceutical companies, where

he was a general partner and chief financial officer.

Steinhart began his career at Price Waterhouse, now known as PricewaterhouseCoopers.

He holds BBA and MBA degrees from Pace University and is a Certified Public Accountant (inactive).

Steinhart brings

more than 30 years of financial experience to our Board, having served in various executive-level financial positions over the course

of his career, and that Mr.

Steinhart is a certified public accountant (inactive), led us to conclude that Mr.

Steinhart should serve

as a director and chair the Audit Committee.

Corporate Governance

Our Board of Directors oversees

our business affairs and monitors the performance of management.

In accordance with our corporate governance principles, our Board of

Directors does not involve itself in day-to-day operations.

The Directors keep themselves informed through discussions with the Chairman

and Chief Executive Officer and other key executives and by reading the reports and other materials that we send them and by participating

in Board of Directors and committee meetings.

Term of Office

Our directors are divided

into three classes, designated Class I, Class II and Class III.

Class I shall consists of two directors, Class II shall consist of one

director, and Class III consists of one director.

The term of office for each Class I director expires at 2026 Annual Meeting of Stockholders;

Steinhart brings more than 35 years of financial experience to our Board, having served in various executive-level financial

positions over the course of his career, and that Mr.

Steinhart is a certified public accountant (inactive), led us to conclude

Steinhart should serve as a director and chair the Audit Committee.

Board of Directors oversees our business affairs and monitors the performance of management.

In accordance with our corporate governance

principles, our Board of Directors does not involve itself in day-to-day operations.

The Directors keep themselves informed through discussions

with the Chairman and Chief Executive Officer and other key executives and by reading the reports and other materials that we send them

and by participating in Board of Directors and committee meetings.

directors are divided into three classes, designated Class I, Class II and Class III.

Class I shall consists of two directors, Class

II shall consist of one director, and Class III consists of one director.

The term of office for each Class I director expires at 2026

Annual Meeting of Stockholders;

the term of office for each Class II director expires at the 2027 Annual Meeting of stockholders;

and the term of office for each Class

III director expires at the 2025 Annual Meeting of stockholders.

The term of each director

is set forth below or until their successors are duly elected:

Term (from 2023 Annual Meeting)

the term of office for each Class III director expires at the 2025 Annual Meeting of stockholders.

term of each director is set forth below or until their successors are duly elected:

(from 2024 Annual Meeting)

David Nicholson

Richard Steinhart

Notwithstanding the foregoing,

each director shall serve until his successor is duly elected and qualified, or until his retirement, death, resignation or removal.

Director Independence

We use the definition of “independence”

of the NYSE American stock exchange to make this determination.

We are listed on the NYSE American under the symbol “ATNM”.

Notwithstanding

the foregoing, each director shall serve until his successor is duly elected and qualified, or until his retirement, death, resignation

use the definition of “independence” of the NYSE American stock exchange to make this determination.

We are listed on the

NYSE American under the symbol “ATNM”.

NYSE MKT corporate governance rule Sec.

803(A)(2) provides that an “independent director” means a person other than an executive

officer or employee of the company.

No director qualifies as independent unless the issuer’s board of directors affirmatively determines

that the director does not have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities

of a director.

Under the NYSE American director independence rules, Jeffrey W.

803(A)(2) provides that an “independent

director” means a person other than an executive officer or employee of the company.

No director qualifies as independent unless

the issuer’s board of directors affirmatively determines that the director does not have a relationship that would interfere with

the exercise of independent judgment in carrying out the responsibilities of a director.

Under the NYSE American director independence

rules, June S.

Almenoff, Jeffrey W.

Chell, David Nicholson, Ajit S.

Shetty, and Richard I.

Steinhart are independent directors of the Company.

Chief Executive Officer Compensation

Steinhart are independent directors of the

Executive Officer Compensation

On August 12, 2020, we and

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to February 21, 2027, subject to the terms of the employment agreement.

Under the terms of the employment

agreement, Mr.

Seth is entitled to (i) a base salary, which will be determined by the Board and adjusted to be competitively aligned to

a range between the 25th and 75th percentile of the relevant market data of chief executive officer positions of similarly situated publicly

companies, (ii) a performance bonus with a target of 50% of his annual base salary as well as other multipliers as determined by the Board

and (iii) options to purchase shares of common stock of the Company as the Board may grant.

the terms of the employment agreement, Mr.

Seth is entitled to (i) a base salary, which will be determined by the Board and adjusted

to be competitively aligned to a range between the 25th and 75th percentile of the relevant market data of chief executive officer positions

of similarly situated publicly companies, (ii) a performance bonus with a target of 50% of his annual base salary as well as other multipliers

as determined by the Board and (iii) options to purchase shares of common stock of the Company as the Board may grant.

For 2023, Mr.

Seth’s annual base salary

was set at $665,000, and for 2023, his annual base salary was set at $705,000.

When and if granted, options

will have an exercise price equal to the closing price of the Company’s common stock on the date of the approval, and 2% of the

grant will vest each month from the grant date until fully vested, in accordance with the 2019 Plan.

The options will expire 10 years

from the grant date, subject to Mr.

Seth’s annual base salary was set at $705,000, and for 2024, his annual base salary was set at $733,200.

and if granted, options will have an exercise price equal to the closing price of the Company’s common stock on the date of the

approval, and 2% of the grant will vest each month from the grant date until fully vested, in accordance with the 2019 Plan.

will expire 10 years from the grant date, subject to Mr.

Seth’s continuing service with the Company.

Seth also receives the standard benefits available

to other similarly situated employees.

Seth’s employment

as Chief Executive Officer or Chairman is terminated due to death or disability, Mr.

Seth will be entitled to earned, but unpaid, salary,

benefits and the Pro-Rated Bonus (as defined below) for the year of termination.

Upon termination of his employment for Cause (as defined

in the employment agreement), or his resignation without Good Reason (as defined in the employment agreement), Mr.

Seth will receive any

accrued and unpaid base salary, the Pro-Rated Bonus and benefits through the date of termination.

If we terminate Mr.

employment without Cause, or if Mr.

Seth resigns for Good Reason other than in connection with a Change in Control, Mr.

Seth also receives the

standard benefits available to other similarly situated employees.

Seth’s employment as Chief Executive Officer or Chairman is terminated due to death or disability, Mr.

Seth will be entitled

to (i) a single lump sum payment equal to 24 months of his compensation, (ii) continued health benefits for 24 months, (iii) immediate

vesting of all outstanding equity awards granted to Mr.

Seth, and (iv) a single lump sum payment equal to his annual bonus subject to

the achievement of the applicable goals, pro-rated based on the number of days in the Company’s fiscal year through the date of

termination (the “Pro-Rated Bonus”).

In addition, if we terminate

to earned, but unpaid, salary, benefits and the Pro-Rated Bonus (as defined below) for the year of termination.

Upon termination of his

employment for Cause (as defined in the employment agreement), or his resignation without Good Reason (as defined in the employment agreement),

Seth will receive any accrued and unpaid base salary, the Pro-Rated Bonus and benefits through the date of termination.

we terminate Mr.

Seth’s employment without Cause, or if Mr.

Seth resigns for Good Reason, or if we fail to renew his position as Chief Executive

Officer and Chairman on February 24, 2027, in any case, within the 12-month period beginning on the date of a Change in Control (as defined

in the 2019 Plan), Mr.

Seth resigns for Good Reason other than in connection with a Change

in Control, Mr.

Seth will be entitled to (i) a single lump sum payment equal to 24 months of his compensation, (ii) continued health

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Seth, and (iv) a single lump sum payment

equal to the Pro-Rated Bonus.

Chief Financial Officer Compensation

On August 12, 2020, we entered

into an employment agreement with Mr.

O’Loughlin, pursuant to which he serves as Chief Financial Officer of the Company.

terms of the employment agreement, Mr.

O’Loughlin is entitled to (i) a base salary, which shall be determined by the Board, (ii)

a performance bonus, which may be up to 30% of the annual base salary based upon the achievement of certain objectives such as the Board

shall determine and (iii) options to purchase shares of common stock of the Company as the Board may grant.

For 2022, Mr.

annual base salary was set at $400,000, and for 2023, his annual base salary was set at $420,000.

When and if granted, options

will have an exercise price equal to the closing price of the Company’s common stock on the date of the approval, and 2% of the

grant will vest each month from the grant date until fully vested, in accordance with the 2019 Plan.

The options will expire 10 years

from the grant date, subject to Mr.

equal to his annual bonus subject to the achievement of the applicable goals, pro-rated based on the number of days in the Company’s

fiscal year through the date of termination (the “Pro-Rated Bonus”).

addition, if we terminate Mr.

Seth’s employment without Cause or if Mr.

Seth resigns for Good Reason, or if we fail to renew his

position as Chief Executive Officer and Chairman on February 24, 2027, in any case, within the 12-month period beginning on the date

of a Change in Control (as defined in the 2019 Plan), Mr.

Seth will be entitled to (i) a single lump sum payment equal to 30 months of

his compensation, (ii) continued health benefits for 30 months, (iii) immediate vesting of all outstanding equity awards granted to Mr.

Seth, and (iv) a single lump sum payment equal to the Pro-Rated Bonus.

Financial Officer Compensation

August 12, 2020, we entered into an employment agreement with Mr.

O’Loughlin, pursuant to which he serves as Chief Financial Officer

of the Company.

Under the terms of the employment agreement, Mr.

O’Loughlin is entitled to (i) a base salary, which shall be determined

by the Board, (ii) a performance bonus, which may be up to 30% of the annual base salary based upon the achievement of certain objectives

such as the Board shall determine and (iii) options to purchase shares of common stock of the Company as the Board may grant.

O’Loughlin’s annual base salary was set at $420,000, and for 2024, his annual base salary was set at $436,800.

and if granted, options will have an exercise price equal to the closing price of the Company’s common stock on the date of the

approval, and 2% of the grant will vest each month from the grant date until fully vested, in accordance with the 2019 Plan.

will expire 10 years from the grant date, subject to Mr.

O’Loughlin’s continuing service with the Company.

Loughlin will also receive the standard

benefits available to other similarly situated employees.

In addition, if we terminate

Loughlin will

also receive the standard benefits available to other similarly situated employees.

addition, if we terminate Mr.

O’Loughlin’s employment without Cause (as defined in the employment agreement) or if Mr.

O’Loughlin resigns for

Good Reason (as defined in the employment agreement), in either case, within the 12-month period beginning on the date of a Change in

O’Loughlin will be entitled to (i) a single lump sum payment equal to his annual base

salary, (ii) continued health benefits for 12 months, and (iii) immediate vesting of all outstanding equity awards granted to Mr.

Board of Directors Meetings and Attendance

resigns for Good Reason (as defined in the employment agreement), in either case, within the 12-month period beginning on the date of

a Change in Control, Mr.

O’Loughlin will be entitled to (i) a single lump sum payment equal to his annual base salary, (ii) continued

health benefits for 12 months, and (iii) immediate vesting of all outstanding equity awards granted to Mr.

of Directors Meetings and Attendance

During 2024, our Board of

Directors held five meetings and acted by unanimous written consent on four occasions.

Directors held six meetings and acted by unanimous written consent on one occasion.

Each director attended at least 75% of the aggregate

of the meetings of our Board and the committees of which he was a member during the year ended December 31, 2023.

Committees of the Board of Directors

Our Board of Directors has

formed three standing committees:

of the meetings of our Board and the committees of which he or she was a member during the year ended December 31, 2024.

of the Board of Directors

Board of Directors has formed three standing committees:

Audit, Compensation and Nominating and Corporate Governance.

Actions taken by our committees are reported

to the full board.

Actions taken by

our committees are reported to the full board.

Each of our committees has a charter and each charter is posted on our website.

Audit Committee

Compensation Committee

Nominating and Corporate

and Corporate

Governance Committee

David Nicholson*

David Nicholson

Indicates committee chair

Audit Committee

Our Audit Committee, which

currently consists of three independent directors, provides assistance to our Board in fulfilling its legal and fiduciary obligations

with respect to matters involving the accounting, financial reporting, internal control and compliance functions of the Company.

has determined that Mr.

Steinhart is an “audit committee financial expert” as defined in Item 407(d)(5)(ii) of Regulation

Our Audit Committee employs an independent registered public accounting firm to audit the financial statements of the Company and

perform other assigned duties.

Further, our Audit Committee provides general oversight with respect to the accounting principles employed

in financial reporting and the adequacy of our internal controls.

In discharging its responsibilities, our Audit Committee may rely on

the reports, findings and representations of the Company’s auditors, legal counsel, and responsible officers.

Our Board has determined

that all members of the Audit Committee are financially literate within the meaning of SEC rules and under the current listing standards

of the NYSE American.

Audit Committee, which currently consists of three independent directors, provides assistance to our Board in fulfilling its legal and

fiduciary obligations with respect to matters involving the accounting, financial reporting, internal control and compliance functions

of the Company.

The Board has determined that Mr.

Steinhart is an “audit committee financial expert” as defined in Item 407(d)(5)(ii)

of Regulation S-K.

Our Audit Committee employs an independent registered public accounting firm to audit the financial statements of

the Company and perform other assigned duties.

Further, our Audit Committee provides general oversight with respect to the accounting

principles employed in financial reporting and the adequacy of our internal controls.

The Audit Committee is also responsible for overseeing

the Company’s cybersecurity policies and procedures.

In discharging its responsibilities, our Audit Committee may rely on the reports,

findings and representations of the Company’s auditors, legal counsel, and responsible officers.

Our Board has determined that

all members of the Audit Committee are financially literate within the meaning of SEC rules and under the current listing standards of

the NYSE American.

The Audit Committee met four times during 2024.

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Committee meetings held during 2024.

Compensation Committee

Our Compensation Committee,

which currently consists of three directors, establishes executive compensation policies consistent with the Company’s objectives

and stockholder interests.

The Compensation Committee met one time and acted by unanimous written consent on one occasion during 2023.

Each member of the Compensation Committee was present at all committee meetings held in 2023.

Our Compensation Committee also reviews

the performance of our executive officers and establishes, adjusts and awards compensation, including incentive-based compensation, as

more fully discussed below.

In addition, our Compensation Committee generally is responsible for:

establishing and periodically reviewing our compensation philosophy and the adequacy of compensation plans and programs for our directors, executive officers and other employees;

overseeing our compensation plans, including the establishment of performance goals under the Company’s incentive compensation arrangements and the review of performance against those goals in determining incentive award payouts;

overseeing our executive employment contracts, special retirement benefits, severance, change in control arrangements and/or similar plans;

acting as administrator of any company stock option plans;

overseeing outside compensation consultants when engaged.

Our Compensation Committee

periodically reviews the compensation paid to our non-employee directors and the principles upon which their compensation is determined.

The Compensation Committee also periodically reports to the Board on how our non-employee director compensation practices compare with

those of other similarly situated public corporations and, if the Compensation Committee deems it appropriate, recommends changes to our

director compensation practices to our Board for approval.

Outside consulting firms retained

by our Compensation Committee and management also will, if requested, provide assistance to the Compensation Committee in making its compensation-related

The Compensation Committee engaged StreeterWyatt Analytics LLC, or Streeter Wyatt and paid consultant fees of $22,000 during

the year ended December 31, 2023.

Streeter Wyatt was instructed to provide support and analysis to the Compensation Committee and their

services included developing a peer group regarding executive and director compensation.

Nominating and Corporate Governance Committee

Our Nominating and Corporate Governance Committee, which currently

consists of three directors, is charged with the responsibility of reviewing our corporate governance policies and proposing potential

director nominees to the Board for consideration.

Our Board has determined that each member of our Nominating and Corporate Governance

Committee qualifies as an “independent” member of the Board as defined by the rules and regulations of the SEC and the NYSE

The Nominating and Corporate Governance Committee held one meeting and acted by unanimous written consent on one occasion during

Our Nominating and Corporate

Governance Committee’s primary responsibilities and obligations include, among other things:

overseeing the administration of our Code of Business Ethics and Conduct and related policies;

leading the search for and recommending individuals qualified to become members of the Board, and selecting director nominees to be presented for election by the shareholders at each annual meeting;

ensuring, in cooperation with the Compensation Committee, that no agreements or arrangements are made with directors or relatives of directors for providing professional or consulting services to us or our affiliate or individual officer or one of their affiliated, without appropriate review and evaluation for conflicts of interest;

assessing the independence of directors annually and report to the Board;

recommending to the Board for its approval, the leadership structure of the Board, including whether the Board should have an executive or non-executive Chairman, whether the roles of Chairman and Chief Executive Officer should be combined, and whether a Lead Director of the Board should be appointed;

Compensation Committee, which currently consists of three directors, establishes executive compensation policies consistent with the

Company’s objectives and stockholder interests.

The Compensation Committee met one time during 2024.

Each member of the Compensation

Committee was present at all committee meetings held in 2024.

Our Compensation Committee also reviews the performance of our executive

officers and establishes, adjusts and awards compensation, including incentive-based compensation, as more fully discussed below.

addition, our Compensation Committee generally is responsible for:

establishing and periodically

reviewing our compensation philosophy and the adequacy of compensation plans and programs for our directors, executive officers and

other employees;

overseeing our compensation

plans, including the establishment of performance goals under the Company’s incentive compensation arrangements and the review

of performance against those goals in determining incentive award payouts;

overseeing our executive

employment contracts, special retirement benefits, severance, change in control arrangements and/or similar plans;

acting as administrator

of any company stock option plans;

overseeing outside compensation

consultants when engaged.

Compensation Committee periodically reviews the compensation paid to our non-employee directors and the principles upon which their compensation

is determined.

The Compensation Committee also periodically reports to the Board on how our non-employee director compensation practices

compare with those of other similarly situated public corporations and, if the Compensation Committee deems it appropriate, recommends

changes to our director compensation practices to our Board for approval.

consulting firms retained by our Compensation Committee and management also will, if requested, provide assistance to the Compensation

Committee in making its compensation-related decisions.

The Compensation Committee engaged StreeterWyatt Analytics LLC, or Streeter Wyatt

and paid consultant fees of $35,000 during the year ended December 31, 2024.

Streeter Wyatt was instructed to provide support and analysis

to the Compensation Committee and their services included developing a peer group regarding executive and director compensation.

and Corporate Governance Committee

Nominating and Corporate Governance Committee, which currently consists of three directors, is charged with the responsibility of reviewing

our corporate governance policies and proposing potential director nominees to the Board for consideration.

Our Board has determined

that each member of our Nominating and Corporate Governance Committee qualifies as an “independent” member of the Board as

defined by the rules and regulations of the SEC and the NYSE American.

Nominating and Corporate Governance Committee’s primary responsibilities and obligations include, among other things:

overseeing the administration

of our Code of Business Ethics and Conduct and related policies;

leading the search for

and recommending individuals qualified to become members of the Board, and selecting director nominees to be presented for election

by the shareholders at each annual meeting;

assessing the diversity

of the Board and recommending any changes to the Board’s composition;

ensuring, in cooperation

with the Compensation Committee, that no agreements or arrangements are made with directors or relatives of directors for providing

professional or consulting services to us or our affiliate or individual officer or one of their affiliated, without appropriate

review and evaluation for conflicts of interest;

assessing the independence

of directors annually and report to the Board;

recommending to the Board

for its approval, the leadership structure of the Board, including whether the Board should have an executive or non-executive Chairman,

whether the roles of Chairman and Chief Executive Officer should be combined, and whether a Lead Director of the Board should be

provided that such structure shall be subject to the bylaws of the Company then in effect;

ensuring that Board members do not serve on more than six other for-profit public company boards that have a class of securities registered under the Exchange Act in addition to the Board;

reviewing the Board’s committee structure and to recommend to the Board for its approval directors to serve as members of each committee as well as recommendations for committee chairs;

reviewing and recommending changes to procedures whereby shareholders may communicate with the Board;

reviewing recommendations received from shareholders for persons to be considered for nomination to the Board;

monitoring compliance with our corporate governance guidelines;

developing and implementing an annual self-evaluation of the Board, both individually and as a Board, and of its committees;

Our Nominating and Corporate

Governance Committee considers all qualified candidates identified by members of the Board, by senior management and by stockholders.

The Committee follows the same process and uses the same criteria for evaluating candidates proposed by stockholders, members of the Board

and members of senior management.

When evaluating a candidate to serve on our Board, the members of our Nominating and Corporate Governance

Committee consider items such as experience in the biotechnology sector, experience with public companies, executive managerial experience,

operations and commercial experience, fundraising experience and contacts in the investment banking industry, personal and skill set compatibility

with current Board members, industry reputation, knowledge of our company generally, and independence.

Our Amended and Restated Bylaws,

as amended (the “Bylaws”) contains provisions that address the process by which a stockholder may nominate an individual to

stand for election to the Board at our annual meetings.

To recommend a nominee for election to the Board, a stockholder must submit his

or her recommendation to our Secretary at our corporate offices at 100 Park Avenue, 23rd Floor, New York, New York 10017.

Such nomination

must satisfy the notice, information and consent requirements set forth in our Bylaws and must be received by us prior to the date set

forth under “Submission of Future Stockholder Proposals” below.

A stockholder’s recommendation must be accompanied by

the information with respect to stockholder nominees as specified in our Bylaws, including among other things, the name, age, address

and occupation of the recommended person, the proposing stockholder’s name and address, the ownership interests of the proposing

stockholder and any beneficial owner on whose behalf the nomination is being made (including the number of shares beneficially owned,

any hedging, derivative, short or other economic interests and any rights to vote any shares) and any material monetary or other relationships

between the recommended person and the proposing stockholder and/or the beneficial owners, if any, on whose behalf the nomination is being

Our approach toward Board

diversity takes into consideration the overall composition and diversity of the Board and areas of expertise that director nominees may

be able to offer, including business experience, knowledge, abilities, customer relationships and appropriate perspectives on environmental,

social and governance matters.

Generally, we strive to assemble and maintain a Board that brings to us a variety of perspectives and skills

derived from business and professional experience as we may deem are in our and our stockholders’ best interests.

In doing so, we

also consider candidates with appropriate non-business backgrounds.

Lead Director

In September 2017, our Board

of Directors created the position of Lead Director and designated David Nicholson, an existing independent director, as our Lead Director.

Pursuant to the charter of the Lead Director, the Lead Director shall be an independent, non-employee director designated by

our Board of Directors who shall serve in a lead capacity to coordinate the activities of the other non-employee directors,

interface with and advise management, and perform such other duties as are specified in the charter or as our Board of Directors may determine.

Family Relationships

There are no family relationships

among any of our officers or directors.

Involvement in Certain Legal Proceedings

To our knowledge, none of

our current directors or executive officers has, during the past ten years:

been convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);

had any bankruptcy petition filed by or against the business or property of the person, or of any partnership, corporation or business association of which he was a general partner or executive officer, either at the time of the bankruptcy filing or within two years prior to that time;

been subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction or federal or state authority, permanently or temporarily enjoining, barring, suspending or otherwise limiting, his involvement in any type of business, securities, futures, commodities, investment, banking, savings and loan, or insurance activities, or to be associated with persons engaged in any such activity;

been found by a court of competent jurisdiction in a civil action or by the SEC or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;

been the subject of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated (not including any settlement of a civil proceeding among private litigants), relating to an alleged violation of any federal or state securities or commodities law or regulation, any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order, or any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity;

been the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

None of our directors or executive

officers has been involved in any transactions with us or any of our directors, executive officers, affiliates or associates which are

required to be disclosed pursuant to the rules and regulations of the SEC.

Code of Ethics

The Company has adopted a

code of ethics, a copy of which is attached as Exhibit 14.1 to the Form 8-K filed on January 2, 2013.

Compensation Discussion and Analysis

Our Compensation Committee

of our Board of Directors has the responsibility to review, determine and approve the compensation for our executive officers.

our Compensation Committee oversees our overall compensation strategy, including compensation policies, plans and programs that cover

all employees.

At our 2022 Annual Meeting of Stockholders, our Stockholders voted on an advisory basis to approve the compensation of

named executive officers.

Of the votes cast (excluding abstentions and broker non-votes), 79.3% were cast in support of the results of

our compensation program.

In light of this, in reviewing the executive compensation program for 2022 and 2023, our Compensation Committee

decided to retain the general overall program design, which ties a significant portion of the executives’ pay closely with our performance.

In the future, our Compensation Committee will continue to consider the executive compensation program in light of changing circumstances

and stockholder feedback.

We currently employ two executive

(1) Sandesh Seth, our Chairman and Chief Executive Officer (who we refer to in this Compensation Discussion and Analysis as

our CEO) and (2) Steve O’Loughlin, our Chief Financial Officer.

This Compensation Discussion

and Analysis sets forth a discussion of the compensation for our Named Executive Officers, or NEOs, as well as a discussion of our philosophies

underlying the compensation for our NEOs and our employees generally.

Objectives of Our Compensation Program

The Compensation Committee’s

philosophy seeks to align the interests of our stockholders, officers and employees by tying compensation to individual and company performance,

both directly in the form of salary or annual cash incentive payments, and indirectly in the form of equity awards.

The objectives of

our compensation program enhance our ability to:

attract and retain qualified and talented individuals;

provide reasonable and appropriate incentives and rewards to our team for building long-term value within our company, in each case in a manner comparable to companies similar to ours.

In addition, we strive to

be competitive with other similarly situated companies in our industry.

The process of developing pharmaceutical products and bringing

those products to market is a long-term proposition and outcomes may not be measurable for several years.

Therefore, in order to build

long-term value for our company and its stockholders, and in order to achieve our business objectives, we believe that we must compensate

our officers and employees in a competitive and fair manner that reflects current company activities but also reflects contributions to

building long-term value.

We utilize the services of

StreeterWyatt Analytics LLC to review compensation programs of peer companies in order to assist the Compensation Committee in determining

the compensation levels for our NEOs, as well as for other employees of our company.

StreeterWyatt is a recognized independent consulting

company and services clients throughout the United States.

Elements of Our Compensation Program and Why

We Chose Each

Main Compensation Components

Our company-wide compensation

program, including for our NEOs, is broken down into three main components:

base salary, performance cash bonuses and potential long-term

compensation in the form of stock options or restricted stock unit awards.

We believe these three components constitute the minimum essential

elements of a competitive compensation package in our industry.

Base salary is used to recognize

the experience, skills, knowledge and responsibilities required of our NEOs as well as recognizing the competitive nature of the biopharmaceutical

This is determined partially by evaluating our peer companies as well as the degree of responsibility and experience levels

of our NEOs and their overall contributions to our company.

Base salary is one component of the compensation package for NEOs;

components being cash bonuses, annual equity grants, and company benefit programs.

Base salary is determined in advance whereas the other

components of compensation are awarded in varying degrees following an assessment of the performance of a NEO.

This approach to compensation

reflects the philosophy of our Board of Directors and its Compensation Committee to emphasize and reward, on an annual basis, performance

levels achieved by our NEOs.

Performance Bonus Plan

We have a performance bonus

plan under which bonuses are paid to our NEOs based on achievement of company performance goals and objectives established by the Compensation

Committee and/or our Board of Directors as well as on individual performance.

The bonus program is discretionary and is intended to:

strengthen the connection between individual compensation and our company’s achievements;

(ii) encourage teamwork among all disciplines

within our company;

(iii) reinforce our pay-for-performance philosophy by awarding higher bonuses to higher performing employees;

and (iv) help ensure

that our cash compensation is competitive.

Depending on the cash position of the company, the Compensation Committee and our Board of

Directors have the discretion to not pay cash bonuses in order that we may conserve cash and support ongoing development programs and

commercialization efforts.

Regardless of our cash position, we consistently grant annual merit-based stock options to continue incentivizing

both our senior management and our employees.

Based on their employment

agreements, each NEO is assigned a target payout under the performance bonus plan, expressed as a percentage of base salary for the year.

Actual payouts under the performance bonus plan are based on the achievement of corporate performance goals and an assessment of individual

performance, each of which is separately weighted as a component of such officer’s target payout.

For the NEOs, the corporate goals

receive the highest weighting in order to ensure that the bonus system for our management team is closely tied to our corporate performance.

Each employee also has specific individual goals and objectives as well that are tied to the overall corporate goals.

For employees, mid-year

and end-of-year progress is reviewed with the employees’ managers.

Equity Incentive Compensation

We view long-term compensation,

currently in the form of stock options generally vesting in annual increments over four years, as a tool to align the interests of our

NEOs and employees generally with the creation of stockholder value, to motivate our employees to achieve and exceed corporate and individual

objectives and to encourage them to remain employed by the company.

While cash compensation is a significant component of employees’

overall compensation, the Compensation Committee and our Board of Directors (as well as our NEOs) believe that the driving force of any

employee working in a small biotechnology company should be strong equity participation.

We believe that this not only creates the potential

for substantial longer-term corporate value but also serves to motivate employees and retain their loyalty and commitment with appropriate

personal compensation.

Other Compensation

In addition to the main components

of compensation outlined above, we also have provided contractual severance and/or change in control benefits to several employees including

The change in control benefits for all applicable persons have a “double trigger.” A double-trigger means that the

executive officers will receive the change in control benefits described in the agreements only if there is both (1) a Change in Control

of our company (as defined in the agreements) and (2) a termination by us of the applicable person’s employment “without cause”

or a resignation by the applicable persons for “good reason” (as defined in the agreements) within a specified time period

prior to or following the Change in Control.

We believe this double trigger requirement creates the potential to maximize stockholder

value because it prevents an unintended windfall to management as no benefits are triggered solely in the event of a Change in Control

while providing appropriate incentives to act in furtherance of a change in control that may be in the best interests of the stockholders.

We believe these severances or change in control benefits are important elements of our compensation program that assist us in retaining

talented individuals at the executive and senior managerial levels and that these arrangements help to promote stability and continuity

of our executives and senior management team.

Further, we believe that the interests of our stockholders will be best served if the interests

of these members of our management are aligned with theirs.

We believe that providing change in control benefits lessens or eliminates

any potential reluctance of members of our management to pursue potential change in control transactions that may be in the best interests

ensuring that Board members

do not serve on more than six other for-profit public company boards that have a class of securities registered under the Exchange

Act in addition to the Board;

reviewing the Board’s

committee structure and to recommend to the Board for its approval directors to serve as members of each committee as well as recommendations

for committee chairs;

reviewing and recommending

changes to procedures whereby shareholders may communicate with the Board;

reviewing recommendations

received from shareholders for persons to be considered for nomination to the Board;

monitoring compliance with

our corporate governance guidelines;

developing and implementing

an annual self-evaluation of the Board, both individually and as a Board, and of its committees;

Nominating and Corporate Governance Committee considers all qualified candidates identified by members of the Board, by senior management

and by stockholders.

The Committee follows the same process and uses the same criteria for evaluating candidates proposed by stockholders,

members of the Board and members of senior management.

When evaluating a candidate to serve on our Board, the members of our Nominating

and Corporate Governance Committee consider items such as experience in the biotechnology sector, experience with public companies, executive

managerial experience, operations and commercial experience, fundraising experience and contacts in the investment banking industry,

personal and skill set compatibility with current Board members, industry reputation, knowledge of our company generally, and independence.

The Nominating and Corporate Governance Committee met one time during 2024.

Each member of the Nominating and Corporate Governance Committee

was present at all committee meetings held in 2024.

Amended and Restated Bylaws, as amended (the “Bylaws”) contains provisions that address the process by which a stockholder

may nominate an individual to stand for election to the Board at our annual meetings.

To recommend a nominee for election to the Board,

a stockholder must submit his or her recommendation to our Secretary at our corporate offices at 100 Park Avenue, 23rd Floor, New York,

New York 10017.

Such nomination must satisfy the notice, information and consent requirements set forth in our Bylaws and must be received

by us prior to the date set forth under “Submission of Future Stockholder Proposals” below.

A stockholder’s recommendation

must be accompanied by the information with respect to stockholder nominees as specified in our Bylaws, including among other things,

the name, age, address and occupation of the recommended person, the proposing stockholder’s name and address, the ownership interests

of the proposing stockholder and any beneficial owner on whose behalf the nomination is being made (including the number of shares beneficially

owned, any hedging, derivative, short or other economic interests and any rights to vote any shares) and any material monetary or other

relationships between the recommended person and the proposing stockholder and/or the beneficial owners, if any, on whose behalf the

nomination is being made.

approach toward Board diversity takes into consideration the overall composition and diversity of the Board and areas of expertise that

director nominees may be able to offer, including business experience, knowledge, abilities, customer relationships and appropriate perspectives

on environmental, social and governance matters.

The Board recognizes the importance of diversity and the value it can bring to the Board’s

overall advice and oversight.

In 2023, the Nominating and Corporate Governance Committee together with the Chairman and CEO, formally

undertook a process, including engaging with executive search firms and our internal human resources department, to identify and evaluate

qualified candidates to address the Board’s diversity and composition.

The Nominating and Corporate Governance met one time in

2024 to review the Board’s composition and diversity.

Our entire Board was involved in the process to evaluate new potential directors,

which included reference checks and in-person meetings.

In October 2024, we increased our Board to six members and effective November

2024, added Dr.

June Almenoff as a Class III Director who also serves on our Nominating and Corporate Governance Committee.

we strive to assemble and maintain a Board that brings to us a variety of perspectives and skills derived from business and professional

experience as we may deem are in our and our stockholders’ best interests.

In doing so, we also consider candidates with appropriate

non-business backgrounds.

September 2017, our Board of Directors created the position of Lead Director and designated David Nicholson, an existing independent

director, as our Lead Director.

Pursuant to the charter of the Lead Director, the Lead Director shall be an independent, non-employee director

designated by our Board of Directors who shall serve in a lead capacity to coordinate the activities of the other non-employee directors,

interface with and advise management, and perform such other duties as are specified in the charter or as our Board of Directors may

Relationships

are no family relationships among any of our officers or directors.

in Certain Legal Proceedings

our knowledge, none of our current directors or executive officers has, during the past ten years:

been convicted in a criminal

proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);

had any bankruptcy petition

filed by or against the business or property of the person, or of any partnership, corporation or business association of which he

or she was a general partner or executive officer, either at the time of the bankruptcy filing or within two years prior to that

been subject to any order,

judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction or federal or state

authority, permanently or temporarily enjoining, barring, suspending or otherwise limiting, his or her involvement in any type of

business, securities, futures, commodities, investment, banking, savings and loan, or insurance activities, or to be associated with

persons engaged in any such activity;

been found by a court of

competent jurisdiction in a civil action or by the SEC or the Commodity Futures Trading Commission to have violated a federal or

state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;

been the subject of, or

a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended

or vacated (not including any settlement of a civil proceeding among private litigants), relating to an alleged violation of any

federal or state securities or commodities law or regulation, any law or regulation respecting financial institutions or insurance

companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty

or temporary or permanent cease-and-desist order, or removal or prohibition order, or any law or regulation prohibiting mail or wire

fraud or fraud in connection with any business entity;

been the subject of, or

a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined

in Section 3(a)(26) of the Exchange Act), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act), or

any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated

with a member.

of our directors or executive officers has been involved in any transactions with us or any of our directors, executive officers, affiliates

or associates which are required to be disclosed pursuant to the rules and regulations of the SEC.

Company has adopted a code of ethics, (the “Code of Ethics”), a copy of which is attached as Exhibit 14.1 to the Form 8-K

filed on January 2, 2013.

Trading Policy

Company’s Code of Ethics includes the Company’s insider trading policy and procedures governing the purchase, sale, and/or

other dispositions of the Company's securities by directors, officers and employees that is designed to promote compliance with insider

trading laws, rules and regulations, as well as procedures designed to further the foregoing purposes.

A copy of the insider trading

policy is included in Exhibit 14.1 to this Annual Report on Form 10-K.

While the Company is not subject to the insider trading policy,

the Company does not trade in its securities when it is in possession of material nonpublic information other than pursuant to previously

adopted Rule 10b5-1 trading plans, if any.

Discussion and Analysis

Compensation Committee of our Board of Directors has the responsibility to review, determine and approve the compensation for our executive

Further, our Compensation Committee oversees our overall compensation strategy, including compensation policies, plans and

programs that cover all employees.

At our 2022 Annual Meeting of Stockholders, our Stockholders voted on an advisory basis to approve

the compensation of named executive officers.

Of the votes cast (excluding abstentions and broker non-votes), 79.3% were cast in support

of the results of our compensation program.

In light of this, in reviewing the executive compensation program for 2023 and 2024, our

Compensation Committee decided to retain the general overall program design, which ties a significant portion of the executives’

pay closely with our performance.

In the future, our Compensation Committee will continue to consider the executive compensation program

in light of changing circumstances and stockholder feedback.

currently employ two executive officers:

(1) Sandesh Seth, our Chairman and Chief Executive Officer (who we refer to in this Compensation

Discussion and Analysis as our CEO) and (2) Steve O’Loughlin, our Chief Financial Officer.

Compensation Discussion and Analysis sets forth a discussion of the compensation for our Named Executive Officers, or NEOs, as well as

a discussion of our philosophies underlying the compensation for our NEOs and our employees generally.

of Our Compensation Program

Compensation Committee’s philosophy seeks to align the interests of our stockholders, officers and employees by tying compensation

to individual and company performance, both directly in the form of salary or annual cash incentive payments, and indirectly in the form

of equity awards.

The objectives of our compensation program enhance our ability to:

attract and retain qualified

and talented individuals;

provide reasonable and

appropriate incentives and rewards to our team for building long-term value within our company, in each case in a manner comparable

to companies similar to ours.

addition, we strive to be competitive with other similarly situated companies in our industry.

The process of developing pharmaceutical

products and bringing those products to market is a long-term proposition and outcomes may not be measurable for several years.

in order to build long-term value for our company and its stockholders, and in order to achieve our business objectives, we believe that

we must compensate our officers and employees in a competitive and fair manner that reflects current company activities but also reflects

contributions to building long-term value.

utilize the services of StreeterWyatt Analytics LLC to review compensation programs of peer companies in order to assist the Compensation

Committee in determining the compensation levels for our NEOs, as well as for other employees of our company.

StreeterWyatt is a recognized

independent consulting company and services clients throughout the United States.

of Our Compensation Program and Why We Chose Each

Compensation Components

company-wide compensation program, including for our NEOs, is broken down into three main components:

base salary, performance cash bonuses

and potential long-term compensation in the form of stock options or restricted stock unit awards.

We believe these three components

constitute the minimum essential elements of a competitive compensation package in our industry.

salary is used to recognize the experience, skills, knowledge and responsibilities required of our NEOs as well as recognizing the competitive

nature of the biopharmaceutical industry.

This is determined partially by evaluating our peer companies as well as the degree of responsibility

and experience levels of our NEOs and their overall contributions to our company.

Base salary is one component of the compensation package

the other components being cash bonuses, annual equity grants, and company benefit programs.

Base salary is determined in advance

whereas the other components of compensation are awarded in varying degrees following an assessment of the performance of a NEO.

approach to compensation reflects the philosophy of our Board of Directors and its Compensation Committee to emphasize and reward, on

an annual basis, performance levels achieved by our NEOs.

have a performance bonus plan under which bonuses are paid to our NEOs based on achievement of company performance goals and objectives

established by the Compensation Committee and/or our Board of Directors as well as on individual performance.

The bonus program is discretionary

and is intended to:

(i) strengthen the connection between individual compensation and our company’s achievements;

(ii) encourage

teamwork among all disciplines within our company;

(iii) reinforce our pay-for-performance philosophy by awarding higher bonuses to higher

performing employees;

and (iv) help ensure that our cash compensation is competitive.

Depending on the cash position of the company,

the Compensation Committee and our Board of Directors have the discretion to not pay cash bonuses in order that we may conserve cash

and support ongoing development programs and commercialization efforts.

Regardless of our cash position, we consistently grant annual

merit-based stock options to continue incentivizing both our senior management and our employees.

on their employment agreements, each NEO is assigned a target payout under the performance bonus plan, expressed as a percentage of base

salary for the year.

Actual payouts under the performance bonus plan are based on the achievement of corporate performance goals and

an assessment of individual performance, each of which is separately weighted as a component of such officer’s target payout.

the NEOs, the corporate goals receive the highest weighting in order to ensure that the bonus system for our management team is closely

tied to our corporate performance.

Each employee also has specific individual goals and objectives as well that are tied to the overall

corporate goals.

For employees, mid-year and end-of-year progress is reviewed with the employees’ managers.

Incentive Compensation

view long-term compensation, currently in the form of stock options generally vesting in annual increments over four years, as a tool

to align the interests of our NEOs and employees generally with the creation of stockholder value, to motivate our employees to achieve

and exceed corporate and individual objectives and to encourage them to remain employed by the company.

While cash compensation is a

significant component of employees’ overall compensation, the Compensation Committee and our Board of Directors (as well as our

NEOs) believe that the driving force of any employee working in a small biotechnology company should be strong equity participation.

We believe that this not only creates the potential for substantial longer-term corporate value but also serves to motivate employees

and retain their loyalty and commitment with appropriate personal compensation.

addition to the main components of compensation outlined above, we also have provided contractual severance and/or change in control

benefits to several employees including our CEO.

The change in control benefits for all applicable persons have a “double trigger.”

A double-trigger means that the executive officers will receive the change in control benefits described in the agreements only if there

is both (1) a Change in Control of our company (as defined in the agreements) and (2) a termination by us of the applicable person’s

employment “without cause” or a resignation by the applicable persons for “good reason” (as defined in the agreements)

within a specified time period prior to or following the Change in Control.

We believe this double trigger requirement creates the potential

to maximize stockholder value because it prevents an unintended windfall to management as no benefits are triggered solely in the event

of a Change in Control while providing appropriate incentives to act in furtherance of a change in control that may be in the best interests

of the stockholders.

We also believe that it is important to provide severance benefits to members of our management, to promote stability

and focus on the job at hand.

We also provide benefits to

the executive officers that are generally available to all regular full-time employees of our company, including our medical and dental

insurance, and a 401(k) plan.

Further, we do not have deferred compensation plans, pension arrangements or post-retirement health coverage

for our executive officers or employees.

All of our employees not specifically under contract are “at-will” employees, which

means that their employment can be terminated at any time for any reason by either us or the employee.

Determination of Compensation

A number of factors impact

the determination of compensation amounts for our NEOs, including the individual’s role in the company and individual performance,

length of service with the company, competition for talent, individual compensation package, assessments of internal pay equity and industry

Stock price performance has generally not been a factor in

determining annual compensation because the price of our common stock is subject to a variety of factors outside of our control.

Industry Survey Data

In collaboration with StreeterWyatt,

we establish and maintain a list of peer companies to best assure ourselves that we are compensating our executives on a fair and reasonable

basis, as set forth above under the heading “Objectives of our Compensation Program.” We also utilize StreeterWyatt-prepared

data for below-executive level personnel, which data focuses on biotechnology companies that can be considered peers in terms of numerous

variables including phase of development, size, therapeutic and technological focus among others.

The availability of peer data is used

by the Compensation Committee strictly as a guide in determining compensation levels with regard to salaries, cash bonuses and performance

related annual equity grants to all employees.

However, the availability of this data does not imply that the Compensation Committee is

under any obligation to exactly follow peer companies in compensation matters.

Determination of Base Salaries

As a guideline for NEO base

salary, we perform formal benchmarks against respective comparable positions in our established peer group.

We adjust salaries based on

our assessment of our NEOs’ levels of responsibility, experience, overall compensation structure and individual performance.

Compensation Committee is not obliged to raise salaries purely on the availability of data.

Merit-based increases to salaries of executive

officers are based on our assessment of individual performance and the relationship to applicable salary ranges.

Cost of living adjustments

may also be a part of that assessment.

Performance Bonus Plan

Concurrently with the beginning

of each calendar year, preliminary corporate goals that reflect our business priorities for the coming year are prepared by the CEO with

input from the other executive officers.

We believe these severances or change in control benefits are important elements of our compensation program that

assist us in retaining talented individuals at the executive and senior managerial levels and that these arrangements help to promote

stability and continuity of our executives and senior management team.

Further, we believe that the interests of our stockholders will

be best served if the interests of these members of our management are aligned with theirs.

We believe that providing change in control

benefits lessens or eliminates any potential reluctance of members of our management to pursue potential change in control transactions

that may be in the best interests of the stockholders.

We also believe that it is important to provide severance benefits to members

of our management, to promote stability and focus on the job at hand.

also provide benefits to the executive officers that are generally available to all regular full-time employees of our company, including

our medical and dental insurance, and a 401(k) plan.

Further, we do not have deferred compensation plans, pension arrangements or post-retirement

health coverage for our executive officers or employees.

All of our employees not specifically under contract are “at-will”

employees, which means that their employment can be terminated at any time for any reason by either us or the employee.

Determination

of Compensation Amounts

number of factors impact the determination of compensation amounts for our NEOs, including the individual’s role in the company

and individual performance, length of service with the company, competition for talent, individual compensation package, assessments

of internal pay equity and industry data.

Stock price performance has generally not been a factor in determining annual compensation

because the price of our common stock is subject to a variety of factors outside of our control.

collaboration with StreeterWyatt, we establish and maintain a list of peer companies to best assure ourselves that we are compensating

our executives on a fair and reasonable basis, as set forth above under the heading “Objectives of our Compensation Program.”

We also utilize StreeterWyatt-prepared data for below-executive level personnel, which data focuses on biotechnology companies that can

be considered peers in terms of numerous variables including phase of development, size, therapeutic and technological focus among others.

The availability of peer data is used by the Compensation Committee strictly as a guide in determining compensation levels with regard

to salaries, cash bonuses and performance related annual equity grants to all employees.

However, the availability of this data does

not imply that the Compensation Committee is under any obligation to exactly follow peer companies in compensation matters.

Determination

of Base Salaries

a guideline for NEO base salary, we perform formal benchmarks against respective comparable positions in our established peer group.

We adjust salaries based on our assessment of our NEOs’ levels of responsibility, experience, overall compensation structure and

individual performance.

The Compensation Committee is not obliged to raise salaries purely on the availability of data.

Merit-based increases

to salaries of executive officers are based on our assessment of individual performance and the relationship to applicable salary ranges.

Cost of living adjustments may also be a part of that assessment.

with the beginning of each calendar year, preliminary corporate goals that reflect our business priorities for the coming year are prepared

by the CEO with input from the other executive officers.

These goals are weighted by relative importance.

The draft goals and proposed weightings are

presented to the Compensation Committee and the Board and discussed, revised as necessary, and then approved by our Board of Directors.

The Compensation Committee then reviews the final goals and their weightings to determine and confirm their appropriateness for use as

performance measurements for purposes of the bonus program.

The goals and/or weightings may be re-visited during the year and potentially

restated in the event of significant changes in corporate strategy or the occurrence of significant corporate events.

Following the agreement

of our Board on the corporate objectives, the goals are then shared with all employees in formal meetings and are reviewed periodically

throughout the year.

Determination of Equity

Incentive Compensation

To assist us in assessing

the reasonableness of our equity grant amounts, we have reviewed StreeterWyatt supplied information.

Such information included equity

data from a cross-section of similar companies in our industry.

Equity Grant Practices

All stock options and/or restricted

stock units granted to the NEOs and other executives are approved by the Compensation Committee.

Exercise prices for options are set at

the closing price of our common stock on the date of grant.

The draft goals and proposed

weightings are presented to the Compensation Committee and the Board and discussed, revised as necessary, and then approved by our Board

of Directors.

The Compensation Committee then reviews the final goals and their weightings to determine and confirm their appropriateness

for use as performance measurements for purposes of the bonus program.

The goals and/or weightings may be re-visited during the year

and potentially restated in the event of significant changes in corporate strategy or the occurrence of significant corporate events.

Following the agreement of our Board on the corporate objectives, the goals are then shared with all employees in formal meetings and

are reviewed periodically throughout the year.

Determination

of Equity Incentive Compensation

assist us in assessing the reasonableness of our equity grant amounts, we have reviewed StreeterWyatt supplied information.

Such information

included equity data from a cross-section of similar companies in our industry.

Grant Practices

stock options and/or restricted stock units granted to the NEOs and other executives are approved by the Compensation Committee.

prices for options are set at the closing price of our common stock on the date of grant.

Grants are generally made:

(i) on the employee’s start date and (ii)

at board of director meetings held once each year and following annual performance reviews.

However, grants have been made at other times

during the year.

(i) on the employee’s

start date and (ii) at board of director meetings held once each year and following annual performance reviews.

However, grants have

been made at other times during the year.

The size of year-end grants for each NEO is assessed against our internal equity guidelines.

Current market conditions

for grants for comparable positions and internal equity may also be assessed.

Also, grants may be made in connection with promotions or

job-related changes in responsibilities.

In addition, on occasion, the Compensation Committee may make additional special awards for extraordinary

individual or company performance.

Compensation Setting Process

Annually, at a meeting of

our Board of Directors and the Compensation Committee, overall corporate performance and relative achievement of the corporate goals for

the prior year are assessed.

The relative achievement of each goal is assessed and quantified and the

summation of the individual components results in a corporate goal rating, expressed as percentages.

The Compensation Committee then approves

the final disbursement of salary increases, cash bonuses and option or restricted stock unit grants.

The Compensation Committee

looks to the CEO’s performance assessments of the other NEOs and his recommendations regarding a performance rating for each, as

well as input from the other members of our Board of Directors.

These recommendations may be adjusted by the Compensation Committee prior

to finalization.

For the CEO, the Compensation Committee evaluates his performance, taking into consideration input from the other members

of our Board of Directors, and considers the achievement of overall corporate objectives by both the CEO specifically and the company

Current market conditions for grants for comparable positions and internal equity may also be assessed.

Also, grants may be made in connection

with promotions or job-related changes in responsibilities.

In addition, on occasion, the Compensation Committee may make additional

special awards for extraordinary individual or company performance.

Setting Process

at a meeting of our Board of Directors and the Compensation Committee, overall corporate performance and relative achievement of the

corporate goals for the prior year are assessed.

The relative achievement of each goal is assessed and quantified and the summation of

the individual components results in a corporate goal rating, expressed as percentages.

The Compensation Committee then approves the

final disbursement of salary increases, cash bonuses and option or restricted stock unit grants.

Compensation Committee looks to the CEO’s performance assessments of the other NEOs and his recommendations regarding a performance

rating for each, as well as input from the other members of our Board of Directors.

These recommendations may be adjusted by the Compensation

Committee prior to finalization.

For the CEO, the Compensation Committee evaluates his performance, taking into consideration input from

the other members of our Board of Directors, and considers the achievement of overall corporate objectives by both the CEO specifically

and the company generally.

The CEO is not present during the Compensation Committee’s deliberations regarding his compensation.

The Compensation Committee

has the authority to directly engage, at our company’s expense, any compensation consultants or other advisors (such as StreeterWyatt)

that it deems necessary to determine the amount and form of employee, executive and director compensation.

In determining the amount and

form of employee, executive and director compensation, the Compensation Committee has reviewed and discussed historical salary information

as well as salaries for similar positions at comparable companies.

However, the availability of this data does not imply that the Compensation

Committee is under any obligation to follow peer companies’ compensation practices.

We paid consultant fees to

StreeterWyatt of $22,000 during the year ended December 31, 2023.

NEOs may have indirect input in the compensation results for other executive

officers by virtue of their participation in the performance review and feedback process for the other executive officers.

Compensation Committee has the authority to directly engage, at our company’s expense, any compensation consultants or other advisors

(such as StreeterWyatt) that it deems necessary to determine the amount and form of employee, executive and director compensation.

determining the amount and form of employee, executive and director compensation, the Compensation Committee has reviewed and discussed

historical salary information as well as salaries for similar positions at comparable companies.

However, the availability of this data

does not imply that the Compensation Committee is under any obligation to follow peer companies’ compensation practices.

paid consultant fees to StreeterWyatt of $35,000 during the year ended December 31, 2024.

NEOs may have indirect input in the compensation

results for other executive officers by virtue of their participation in the performance review and feedback process for the other executive

EXECUTIVE COMPENSATION

Summary Compensation Table

The following table provides

information regarding the compensation earned during the years ended December 31, 2023 and 2022 for our named executive officers.

Compensation Table

following table provides information regarding the compensation earned during the years ended December 31, 2024 and 2023 for our named

executive officers.

Name/Position

2 unchanged sentences

Chief Financial Officer

The bonus disclosed in this column relates to performance in the prior year, but was determined and approved by the Board and was paid in the year disclosed.

The dollar amounts in this column represent the aggregate grant date fair value of all option awards granted during the indicated year.

These amounts have been calculated in accordance with FASB ASC Topic 718, using the Black-Scholes option-pricing model.

For a discussion of valuation assumptions, see Note 7 to our financial statements.

These amounts do not necessarily correspond to the actual value that may be recognized from the option awards by the NEOs.

In addition to the foregoing, on August 17, 2022, Mr.

Seth was granted an award of 300,000 restricted stock units, or RSUs, which were granted in exchange for warrants that Mr.

Seth received for services provided to the Company prior to becoming employed by Actinium.

These warrants were granted on December 17, 2012 and vested and became exercisable on the 12-month anniversary of the grant date.

The warrants were in the money for their entire existence since vesting.

Seth was appointed Chairman of the Board in October 2013, became Executive Chairman in August 2014 and Chief Executive Officer in June 2017.

Seth refrained from exercising the warrants in order to be aligned with the long-term interests of the Company and shareholders.

In November 2018, the Board extended the expiration of Mr.

Seth’s warrants to February 2022.

In February 2022, the Company requested that Mr.

Seth not exercise the warrants to maintain alignment with the long-term interests of the Company.

In exchange for refraining from exercising these warrants, the Board determined to grant Mr.

Seth 300,000 RSUs based on the average fair value of the warrants during their vested life based on the Black-Scholes option-pricing model to continue to align Mr.

Seth with the long-term interest of the Company and shareholders.

The RSU grant was detailed on Form 4 filed with the SEC on August 19, 2022.

Narrative Disclosure to Summary Compensation

For a discussion of the material

terms of each named executive officer’s employment agreement or arrangement, refer to the sections above titled “Directors,

Executive Officers and Corporate Governance—Chief Executive Officer Compensation” and “Directors, Executive Officers

and Corporate Governance—Chief Financial Officer/Principal Financial Officer Compensation.”

On December 28, 2023, Mr.

The bonus disclosed in

this column relates to performance in the prior year, but was determined and approved by the Board and was paid in the year disclosed.

The dollar amounts in this

column represent the aggregate grant date fair value of all option awards granted during the indicated year.

These amounts have been

calculated in accordance with FASB ASC Topic 718, using the Black-Scholes option-pricing model.

For a discussion of valuation assumptions,

see Note 7 to our financial statements.

These amounts do not necessarily correspond to the actual value that may be recognized from

the option awards by the NEOs.

Disclosure to Summary Compensation Table

a discussion of the material terms of each named executive officer’s employment agreement or arrangement, refer to the sections

above titled “Directors, Executive Officers and Corporate Governance—Chief Executive Officer Compensation” and “Directors,

Executive Officers and Corporate Governance—Chief Financial Officer/Principal Financial Officer Compensation.”

December 28, 2023, Mr.

Seth was granted an option to purchase 984,367 shares of common stock and Mr.

O’Loughlin was granted an option to purchase 253,123

shares of common stock.

O’Loughlin was granted an

option to purchase 253,123 shares of common stock.

The options have an exercise price of $5.00 per share and expire on December 28, 2033.

Pursuant to the terms of

the 2019 Stock Plan, 2% of the options will vest each month from the respective dates of grants until fully vested.

On August 17, 2022, Mr.

was issued 300,000 restricted stock units, or RSUs, in exchange for warrants issued to him for services provided to the Company prior

to being employed by Actinium.

These RSUs vest at the earliest of a change of control event, the termination of the recipient’s

continuous service status for any reason other than by the Company for cause and the third anniversary of the date of the grant.

On July 1, 2022, Mr.

was granted an option to purchase 827,366 shares of common stock and Mr.

O’Loughlin was granted an option to purchase 256,438 shares

of common stock.

The options have an exercise price of $4.96 per share and expire on July 1, 2032.

Pursuant to the terms of the Company’s

Amended and Restated 2019 Stock Plan, 2% of the options will vest each month from the respective dates of grants until fully vested.

Director Compensation

The following table sets forth

the compensation of our non-employee directors for the year ended December 31, 2023:

Pursuant to the terms of the 2019 Stock Plan, 2% of the options will vest each month from the respective dates of grants until fully

following table sets forth the compensation of our non-employee directors for the year ended December 31, 2024:

Awards (1)(2)

1 unchanged sentence

Richard Steinhart

The dollar amounts in this column represent the aggregate grant date fair value of options granted during 2023.

These amounts have been calculated in accordance with FASB ASC Topic 718, using the Black-Scholes option-pricing model.

For a discussion of valuation assumptions, see Note 7 to our financial statements.

These amounts do not necessarily correspond to the actual value that may be recognized from the option awards by the Directors.

At December 31, 2023, the aggregate number of option awards outstanding for each director was as follows:

Chell, 182,484, (ii) for Dr.

Nicholson, 185,817, (iii) for Dr.

Shetty, 182,484, and (iv) for Mr.

dollar amounts in this column represent the aggregate grant date fair value of options granted during 2024.

These amounts have been calculated

in accordance with FASB ASC Topic 718, using the Black-Scholes option-pricing model.

For a discussion of valuation assumptions, see Note

7 to our financial statements.

These amounts do not necessarily correspond to the actual value that may be recognized from the option

awards by the Directors.

December 31, 2024, the aggregate number of option awards outstanding for each director was as follows:

Almenoff, 50,000 (ii)

Chell, 182,484, (iii) for Dr.

Nicholson, 185,817, (iv) for Dr.

Shetty, 182,484, and (v) for Mr.

Steinhart, 185,817.

Our non-employee directors

are paid an annual fee of $40,000 and in most years, receive option grants.

Nicholson as Lead Director receives an additional annual

fee of $10,000.

Board committee members receive the following compensation:

(3) Dr.Almenoff

was appointed as a director, effective November 1, 2024.

non-employee directors are paid an annual fee of $45,000 and in most years, receive stock option grants.

Nicholson as Lead Director

receives an additional annual fee of $10,000.

Board committee members receive the following compensation, in addition to their annual

BOD Committee

Nominating and Corporate Governance

OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END

The following table sets forth

all unexercised stock options and unvested restricted stock units that have been awarded to our named executives by the Company that were

outstanding as of December 31, 2023.

EQUITY AWARDS AT FISCAL YEAR-END – 2024

following table sets forth all unexercised stock options and unvested restricted stock units that have been awarded to our named executives

by the Company that were outstanding as of December 31, 2024.

Option Awards

2 unchanged sentences

Steve O’Loughlin

Fully vested.

Pursuant to the terms of the Company’s 2013 Stock Plan or 2019 Stock Plan, 2% of these options vest each month from the date of grant.

Indemnification of Directors and Officers

Section 102(b)(7) of the Delaware

General Corporation Law allows a corporation to provide in its certificate of incorporation that a director of the corporation will not

be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except where

the directors breached the duty of loyalty, failed to act in good faith, engaged in intentional misconduct or knowingly violated a law,

authorized the payment of a dividend or approved a stock repurchase in violation of Delaware corporate law or obtained an improper personal

to the terms of the Company’s 2019 Stock Plan, 2% of these options vest each month from the date of grant.

Indemnification

of Directors and Officers

102(b)(7) of the Delaware General Corporation Law allows a corporation to provide in its certificate of incorporation that a director

of the corporation will not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary

duty as a director, except where the directors breached the duty of loyalty, failed to act in good faith, engaged in intentional misconduct

or knowingly violated a law, authorized the payment of a dividend or approved a stock repurchase in violation of Delaware corporate law

or obtained an improper personal benefit.

Our certificate of incorporation provides for this limitation of liability.

Section 145 of the General

Corporation Law of the State of Delaware provides that a Delaware corporation may indemnify any person who was, is or is threatened to

be made, party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative

(other than an action by or in the right of such corporation), by reason of the fact that such person is or was an officer, director,

employee or agent of such corporation or is or was serving at the request of such corporation as a director, officer employee or agent

of another corporation or enterprise.

The indemnity may include expenses (including attorneys’ fees), judgments, fines and amounts

paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided such person

acted in good faith and in a manner he reasonably believed to be in or not opposed to the corporation’s best interests and, with

respect to any criminal action or proceeding, had no reasonable cause to believe that his conduct was illegal.

A Delaware corporation

may indemnify any persons who are, or were, a party to any threatened, pending or completed action or suit by or in the right of the corporation

by reason of the fact that such person is or was a director, officer, employee or agent of another corporation or enterprise.

The indemnity

may include expenses (including attorneys’ fees) actually and reasonably incurred by such person in connection with the defense

or settlement of such action or suit, provided such person acted in good faith and in a manner he reasonably believed to be in or not

opposed to the corporation’s best interests, provided that no indemnification is permitted without judicial approval if the officer,

director, employee or agent is adjudged to be liable to the corporation.

Where an officer or director is successful on the merits or otherwise

in the defense of any action referred to above, the corporation must indemnify him against the expenses which such officer or directors

has actually and reasonably incurred.

Section 145 further authorizes

a corporation to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation

or is or was serving at the request of the corporation as a director, officer, employee or agent of another

145 of the General Corporation Law of the State of Delaware provides that a Delaware corporation may indemnify any person who was, is

or is threatened to be made, party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative

or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person is or was an officer,

director, employee or agent of such corporation or is or was serving at the request of such corporation as a director, officer employee

or agent of another corporation or enterprise.

The indemnity may include expenses (including attorneys’ fees), judgments, fines

and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided

such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the corporation’s best

interests and, with respect to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was illegal.

A Delaware corporation may indemnify any persons who are, or were, a party to any threatened, pending or completed action or suit by

or in the right of the corporation by reason of the fact that such person is or was a director, officer, employee or agent of another

corporation or enterprise.

The indemnity may include expenses (including attorneys’ fees) actually and reasonably incurred by such

person in connection with the defense or settlement of such action or suit, provided such person acted in good faith and in a manner

he or she reasonably believed to be in or not opposed to the corporation’s best interests, provided that no indemnification is

permitted without judicial approval if the officer, director, employee or agent is adjudged to be liable to the corporation.

officer or director is successful on the merits or otherwise in the defense of any action referred to above, the corporation must indemnify

him or her against the expenses which such officer or directors has actually and reasonably incurred.

145 further authorizes a corporation to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee

or agent of the corporation or is or was serving at the request of the corporation as a director, officer, employee or agent of another

corporation or enterprise, against any liability asserted against him and incurred by him in any such capacity, or arising out of his

status as such, whether or not the corporation would otherwise have the power to indemnify him under Section 145.

Our bylaws provide that

we will indemnify our directors and officers to the fullest extent authorized by the General Corporation Law of the State of

Expenses (including attorneys’ fees) incurred by an officer or director of the Corporation in defending any civil,

criminal, administrative or investigative action, suit or proceeding may be paid by the Company in advance of the final disposition

of such action, suit or proceeding upon receipt of an undertaking by or on behalf of such director or officer to repay such amount

if it shall ultimately be determined that such person is not entitled to be indemnified by the Company as authorized under Delaware

Such expenses (including attorneys’ fees) incurred by former directors and officers or other employees and

agents of the Company or by persons serving at the request of the Company as directors, officers, employees or agents of another

corporation, partnership, joint venture, trust or other enterprise may be so paid upon such terms and conditions, if any, as the

Company deems appropriate.

The indemnification rights

set forth above shall not be exclusive of any other right which an indemnified person may have or hereafter acquire under any bylaw, agreement,

vote of stockholders or disinterested directors or otherwise, both as to action in such person’s official capacity and as to action

in another capacity while holding such office, and shall continue as to a person who has ceased to be a director, officer, employee, or

agent and shall inure to the benefit of the heirs, executors, and administrators of such person.

We maintain a general liability

insurance policy that covers liabilities of directors and officers of our corporation arising out of claims based on acts or omissions

in their capacities as directors or officers.

We have also entered into Indemnification Agreements with our executive officers and directors.

At the present time, there

is no pending litigation or proceeding involving a director, officer, employee, or other agent of ours in which indemnification would

be required or permitted.

We are not aware of any threatened litigation or proceeding that may result in a claim for such indemnification.

or her status as such, whether or not the corporation would otherwise have the power to indemnify him under Section 145.

bylaws provide that we will indemnify our directors and officers to the fullest extent authorized by the General Corporation Law of the

State of Delaware.

Expenses (including attorneys’ fees) incurred by an officer or director of the Corporation in defending any

civil, criminal, administrative or investigative action, suit or proceeding may be paid by the Company in advance of the final disposition

of such action, suit or proceeding upon receipt of an undertaking by or on behalf of such director or officer to repay such amount if

it shall ultimately be determined that such person is not entitled to be indemnified by the Company as authorized under Delaware law.

expenses (including attorneys’ fees) incurred by former directors and officers or other employees and agents of the Company or

by persons serving at the request of the Company as directors, officers, employees or agents of another corporation, partnership, joint

venture, trust or other enterprise may be so paid upon such terms and conditions, if any, as the Company deems appropriate.

indemnification rights set forth above shall not be exclusive of any other right which an indemnified person may have or hereafter acquire

under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person’s official

capacity and as to action in another capacity while holding such office, and shall continue as to a person who has ceased to be a director,

officer, employee, or agent and shall inure to the benefit of the heirs, executors, and administrators of such person.

maintain a general liability insurance policy that covers liabilities of directors and officers of our corporation arising out of claims

based on acts or omissions in their capacities as directors or officers.

We have also entered into Indemnification Agreements with our

executive officers and directors.

At the present time, there is no pending litigation or proceeding involving

a director, officer, employee, or other agent of ours in which indemnification would be required or permitted and we are not aware of

any threatened litigation or proceeding that may result in a claim for such indemnification, in each case, except as set forth under “Legal

Proceedings.”

of Certain Equity Awards

do not have any policies and practices on the timing of awards of stock options or other equity grants in relation to the disclosure

of material nonpublic information.

The Company grants stock options based on timelines in the normal course of business independent of

the occurrence of these types of events (e.g., at pre-established dates, such as on an employee’s start date, at board of director

meetings held once each year and following annual performance reviews).

During the last completed fiscal year, we did not grant equity

awards in anticipation of the release of material nonpublic information that is likely to result in changes to the price of our common

stock, and did not time the public release of such information based on award grant dates.

During the last completed fiscal year, we

have not made awards to any named executive officer during the period beginning four business days before and ending one business day

after the filing of a period report on Form 10-Q or Form 10-K or the filing or furnishing of a current report on Form 8-K, and we have

not timed the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table shows

the beneficial ownership of our common stock as of March 27, 2024 held by (i) each person known to us to be the beneficial owner of more

than five percent (5%) of any class of our shares;

following table shows the beneficial ownership of our common stock as of March 27, 2025 held by (i) each person known to us to be the

beneficial owner of more than five percent (5%) of any class of our voting shares;

(ii) each director;

(iii) each Named Executive Officer;

and (iv) all directors and

executive officers as a group.

Beneficial ownership is determined in accordance with the rules of

the SEC, and generally includes voting power and/or investment power with respect to the securities held.

Shares of common

stock subject to options and warrants currently exercisable or which may become exercisable within 60 days of March 27, 2024, are deemed

outstanding and beneficially owned by the person holding such options or warrants for purposes of computing the number of shares and percentage

beneficially owned by such person, but are not deemed outstanding for purposes of computing the percentage beneficially owned by any other

Except as indicated in the footnotes to this table, the persons or entities named have sole voting and investment power

with respect to all shares of our common stock shown as beneficially owned by them.

Unless otherwise indicated,

the principal address of each of the persons below is c/o Actinium Pharmaceuticals, Inc., 100 Park Ave, 23 rd Floor, New York,

and (iv) all directors and executive officers as a group.

ownership is determined in accordance with the rules of the SEC, and generally includes voting power and/or investment power with respect

to the securities held.

Shares of common stock subject to options and warrants currently exercisable or which may become exercisable

within 60 days of March 27, 2025, are deemed outstanding and beneficially owned by the person holding such options or warrants for purposes

of computing the number of shares and percentage beneficially owned by such person, but are not deemed outstanding for purposes of computing

the percentage beneficially owned by any other person.

Except as indicated in the footnotes to this table, the persons or

entities named have sole voting and investment power with respect to all shares of our common stock shown as beneficially owned by them.

otherwise indicated, the principal address of each of the persons below is c/o Actinium Pharmaceuticals, Inc., 100 Park Ave, 23 rd

Floor, New York, NY 10017.

Name of Beneficial Owner

1 unchanged sentence

Beneficial Owners of 5% or More of Our Common Stock

Michael Bigger

1,895,202 (1)

BlackRock, Inc.

1,691,914 (1)

The Vanguard Group

1,625,000 (2)

Named Executive Officers and Directors

1,414,624 (3)

Steve O’Loughlin

June Almenoff, M.D.

David Nicholson, Ph.D.

2 unchanged sentences

2,304,617 (9)(10)

Based on 29,396,411 shares of common stock outstanding as of March 27, 2024

The address of record is 2250 Red Springs Drive, Las Vegas, NV

Based on the beneficial owner’s Schedule 13G/A filed February 9,2024, reporting beneficial ownership as of December 30,

2023, shares beneficially owned consist of 441,104 shares of common stock owned by Bigger Capital Fund, LP (“Bigger

Capital”), 826,428 shares of common stock owned by District 2 Capital Fund LP (“District 2 CF”), 177,670 shares of

common stock held by Mr.

Bigger through an IRA and another account, 150,000 shares of common stock through an IRA held by Patricia

Winter, the spouse of Mr.

Bigger, and an aggregate of 300,000 shares of common stock through an IRA held by the sons of Mr.

Bigger is also the beneficial owner of 33,203 shares of common stock issuable upon exercise of Warrants owned by Bigger Capital

and 96,666 shares of common stock issuable upon exercise of Warrants owned by District 2 CF.

The warrants are subject to a 4.99%

beneficial ownership limit.

The number of shares and percentage set forth above assume no exercise of the warrants due to the

beneficial ownership limit.

Bigger disclaims beneficial ownership of these securities.

Based on the Schedule 13G filed by BlackRock Inc.

(“BlackRock”)

as the parent holding company or control person of BlackRock Advisors, LLC, BlackRock Fund Advisors, BlackRock Institutional Trust Company,

N.A., BlackRock Financial Management, Inc., and BlackRock Investment Management, LLC with the SEC on January 29, 2024, reporting beneficial

ownership as of December 30, 2023.

BlackRock is the beneficial owner of 1,691,914 shares of common stock and has sole voting power and

sole dispositive power over 1,691,914 shares of common stock.

The address for each of the reporting persons is 50 Hudson Yards, New York,

Includes 5,381 shares of common stock and 905,781 shares of common stock underlying options that will have vested within 60 days of March 27, 2024.

Includes 1,183 shares of common stock and 285,500 shares of common stock underlying options that will have vested within 60 days of March 27, 2024.

Includes 69,919 shares of common stock underlying options that will have vested within 60 days of March 27, 2024.

Includes 333 shares of common stock and 73,252 shares of common stock underlying options that will have vested within 60 days of March 27, 2024.

Includes 757 shares of common stock and 69,919 shares of common stock underlying options that will have vested within 60 days of March 27, 2024.

Includes 316 shares of common stock and 73,568 shares of common stock underlying options that will have vested within 60 days of March 27, 2024.

Includes 7,970 shares of common stock and 1,477,623 shares of common stock underlying options that will have vested within 60 days of March 27, 2024.

CERTAIN RELATIONSHIPS AND RELATED

TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Transactions with Related Persons

Director Independence

For disclosures regarding

our policies relating to director independence, refer to the section above titled “Directors, Executive Officers and Corporate Governance—Corporate

Governance—Director Independence.”

Non-Competition Agreements

Our executive officers have

signed non-competition agreements, which provide that all inventions become the immediate property of us and require invention assignments.

The agreements provide that the executive officers will hold proprietary information in the strictest confidence and not use the confidential

information for any purpose not expressly authorized by us.

Based on 31,195,891 shares

of common stock outstanding as of March 27, 2025

Based on the Schedule 13G

filed by BlackRock Inc.

(“BlackRock”) as the parent holding company or control person of BlackRock Advisors, LLC, BlackRock

Fund Advisors, BlackRock Institutional Trust Company, N.A., BlackRock Financial Management, Inc., and BlackRock Investment Management,

LLC with the SEC on January 29, 2024, reporting beneficial ownership as of December 30, 2023.

BlackRock is the beneficial owner of

1,691,914 shares of common stock and has sole voting power and sole dispositive power over 1,691,914 shares of common stock.

address for each of the reporting persons is 50 Hudson Yards, New York, NY 10001.

Based on the Schedule 13G/A

filed by The Vanguard Group, Inc.

(“Vanguard”) with the SEC on November 12, 2024, reporting beneficial ownership as of

September 30, 2024.

Vanguard is the beneficial owner of 1,625,000 shares of common stock and has shared voting power over 48,600

shares of common stock, sole dispositive power over 1,567,507 shares of common stock and shares dispositive power over 57,493 shares

of common stock.

The address for Vanguard is 100 Vanguard Blvd.

Malvern, PA 19355.

Includes 5,381 shares of

common stock and 1,414,624 shares of common stock underlying options that will have vested within 60 days of March 28, 2025.

Includes 1,183 shares of

common stock and 439,507 shares of common stock underlying options that will have vested within 60 days of March 28, 2025.

Includes 109,379 shares

of common stock underlying options that will have vested within 60 days of March 28, 2025.

Includes 333 shares of

common stock and 111,879 shares of common stock underlying options that will have vested within 60 days of March 28, 2025.

Includes 757 shares of

common stock and 109,379 shares of common stock underlying options that will have vested within 60 days of March 28, 2025.

Includes 316 shares of

common stock and 111,879 shares of common stock underlying options that will have vested within 60 days of March 28, 2025.

Includes 7,970 shares of

common stock and 2,296,647 shares of common stock underlying options that will have vested within 60 days of March 28, 2025.

2025, our Board of Directors of approved the cancellation of certain stock options to purchase 5,149,944 shares of common stock held

by certain current employees and directors that were initially granted under the Company’s Amended and Restated 2013 Stock Plan

and 2019 Amended and Restated Stock Plan.

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

with Related Persons

disclosures regarding our policies relating to director independence, refer to the section above titled “Directors, Executive Officers

and Corporate Governance—Corporate Governance—Director Independence.”

Non-Competition

executive officers have signed non-competition agreements, which provide that all inventions become the immediate property of us and

require invention assignments.

The agreements provide that the executive officers will hold proprietary information in the strictest

confidence and not use the confidential information for any purpose not expressly authorized by us.

PRINCIPAL ACCOUNTANT FEES AND SERVICES

The table below shows the

aggregate fees billed for professional services for the audits and audit-related fees of the Company’s annual financial statements

included in Form 10-K for the years ending December 31, 2023 and 2022, respectively, by Marcum LLP (PCAOB ID Number 688 ).

table below shows the aggregate fees billed for professional services for the audits and audit-related fees of the Company’s annual

financial statements included in Form 10-K for the years ending December 31, 2024 and 2023, respectively, by Marcum LLP (PCAOB ID Number

Audit – Related Fees

All Other Fees

This category

includes the audit of our annual consolidated financial statements, reviews of our financial statements included in our Form 10-K and

Form 10-Qs and services that are normally provided by our independent registered public accounting firm in connection with its engagements

for those years.

Audit-Related Fees.

category consists of assurance and related services by our independent registered public accounting firm that are reasonably related to

the performance of the audit or review of our financial statements and are not reported above under “Audit Fees.” The services

for the fees disclosed under this category include consents regarding equity issuances.

Pre-Approval Policy

In 2015, the Audit Committee

adopted policies and procedures for the pre-approval of audit and non-audit services performed by the independent registered public accountants

pursuant to which the Audit Committee generally is required to pre-approve the audit and permissible non-audit services performed by the

independent registered public accountants in order to ensure that the provision of such services does not impair the registered accountants’

independence.

All of the services rendered

by Marcum in 2023 were pre-approved by the Audit Committee.

This category includes the audit of our annual consolidated financial statements, reviews of our financial statements included

in our Form 10-K and Form 10-Qs and services that are normally provided by our independent registered public accounting firm in connection

with its engagements for those years.

Audit-Related

This category consists of assurance and related services by our independent registered public accounting firm that are reasonably

related to the performance of the audit or review of our financial statements and are not reported above under “Audit Fees.”

The services for the fees disclosed under this category include consents regarding equity issuances.

2015, the Audit Committee adopted policies and procedures for the pre-approval of audit and non-audit services performed by the independent

registered public accountants pursuant to which the Audit Committee generally is required to pre-approve the audit and permissible non-audit

services performed by the independent registered public accountants in order to ensure that the provision of such services does not impair

the registered accountants’ independence.

of the services rendered by Marcum in 2024 were pre-approved by the Audit Committee.

EXHIBITS, FINANCIAL STATEMENT SCHEDULES

Capital on Demand™ Sales Agreement, dated August 7, 2020, by and between Actinium Pharmaceuticals, Inc.

and JonesTrading Institutional Services LLC (incorporated by reference to Exhibit 1.2 to Registration Statement on Form S-3 filed on August 7, 2020).

Amended and Restated Capital on Demand™ Sales Agreement, by and between Actinium Pharmaceuticals, Inc., JonesTrading Institutional Services LLC, and B.

(a)(1) Financial

documents listed below are filed as part of this Form 10-K:

Report of Independent Registered Public Accounting Firm (Firm ID # 688)

Consolidated Balance Sheets as of December 31, 2024, and December 31, 2023

Consolidated Statements of Operations for the years ended December 31, 2024, and December 31, 2023

Consolidated Statements of Changes in Stockholders’ Equity for the years ended December 31, 2024, and December 31, 2023

Consolidated Statements of Cash Flows for the years ended December 31, 2024, and December 31, 2023

Notes to Consolidated Financial Statements

(a)(2) Consolidated

Financial Statement Schedules:

not filed are omitted because of the absence of the conditions under which they are required or because the required information is included

in the consolidated financial statements or the notes thereto.

on Demand™ Sales Agreement, dated August 7, 2020, by and between Actinium Pharmaceuticals, Inc.

and JonesTrading Institutional

Services LLC (incorporated by reference to Exhibit 1.2 to Registration Statement on Form S-3 filed on August 7, 2020).

and Restated Capital on Demand™ Sales Agreement, by and between Actinium Pharmaceuticals, Inc., JonesTrading Institutional

Services LLC, and B.

Riley Securities, Inc., dated June 28, 2022 (incorporated by reference to Exhibit 1.1 to Form 8 K filed on June

Certificate of Incorporation of Actinium Pharmaceuticals, Inc.

(incorporated by reference to Exhibit 3.1 of the Company’s Form 8-K filed with the SEC on April 17, 2013).

Certificate of Amendment to Certificate of Incorporation filed January 7, 2014 (incorporated by reference to Exhibit 3.5 to Form S-1 filed on January 31, 2014).

Certificate of Amendment to Certificate of Incorporation filed February 3, 2014.

(incorporated by reference to Exhibit 3.1 to Form 8-K filed on February 7, 2014).

Certificate of Amendment to Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to Form 8-K filed on March 4, 2015).

Certificate of Amendment to Actinium’s Certificate of Incorporation, as amended, filed on February 26, 2018 (incorporated by reference to Exhibit 3.1 to Form 8-K filed on February 26, 2018).

Certificate of Amendment to Actinium’s Certificate of Incorporation, as amended, filed on March 6, 2019 (incorporated by reference to Exhibit 3.7 to Form 10-K filed on March 15, 2019).

Certificate of Amendment to Certificate of Incorporation, as amended, filed on June 16, 2020 (incorporated by reference to Exhibit 3.1 to Form 8-K filed on June 16, 2020).

Amended and Restated Bylaws, dated August 8, 2018 (incorporated by reference to Exhibit 3.1 to Form 10-Q filed on August 9, 2018).

Amendment to the Amended and Restated Bylaws, dated May 7, 2020 (incorporated by reference to Exhibit 3.1 to Form 8-K filed on May 5, 2020).

Form of Common Stock Warrant, dated December 27, 2013 and January 10, 2014 (incorporated by reference to Exhibit 4.8 to Form S-1 filed on January 31, 2014).

Form of Warrant (incorporated by reference to Exhibit 4.1 to Form 8-K filed on April 18, 2019).

Description of Securities (incorporated by reference to Exhibit 4.15 to Form 10-K filed on March 31, 2021)

Actinium Pharmaceuticals, Inc.

of Incorporation of Actinium Pharmaceuticals, Inc.

(incorporated by reference to Exhibit 3.1 of the Company’s Form 8-K filed

with the SEC on April 17, 2013).

of Amendment to Certificate of Incorporation filed January 7, 2014 (incorporated by reference to Exhibit 3.5 to Form S-1 filed on

January 31, 2014).

of Amendment to Certificate of Incorporation filed February 3, 2014.

(incorporated by reference to Exhibit 3.1 to Form 8-K filed

on February 7, 2014).

of Amendment to Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to Form 8-K filed on March 4, 2015).

of Amendment to Actinium’s Certificate of Incorporation, as amended, filed on February 26, 2018 (incorporated by reference

to Exhibit 3.1 to Form 8-K filed on February 26, 2018).

of Amendment to Actinium’s Certificate of Incorporation, as amended, filed on March 6, 2019 (incorporated by reference to Exhibit

3.7 to Form 10-K filed on March 15, 2019).

of Amendment to Certificate of Incorporation, as amended, filed on June 16, 2020 (incorporated by reference to Exhibit 3.1 to Form

8-K filed on June 16, 2020).

and Restated Bylaws, dated August 8, 2018 (incorporated by reference to Exhibit 3.1 to Form 10-Q filed on August 9, 2018).

to the Amended and Restated Bylaws, dated May 7, 2020 (incorporated by reference to Exhibit 3.1 to Form 8-K filed on May 5, 2020).

of Common Stock Warrant, dated December 27, 2013 and January 10, 2014 (incorporated by reference to Exhibit 4.8 to Form S-1

filed on January 31, 2014).

of Warrant (incorporated by reference to Exhibit 4.1 to Form 8-K filed on April 18, 2019).

of Securities (incorporated by reference to Exhibit 4.15 to Form 10-K filed on March 31, 2021)

Pharmaceuticals, Inc.

Amended and Restated 2013 Stock Plan (incorporated by reference to Exhibit 10.42 to Form 10-K filed on March

First Amendment to Amended and Restated 2013 Stock Plan, effective August 6, 2015 (incorporated by reference to Exhibit 10.1 to Form 10-Q filed on August 7, 2015).

Second Amendment to the 2013 Amended and Restated Stock Plan, effective as of December 15, 2015 (incorporated by reference to Exhibit 10.1 to Form 8-K filed on December 16, 2015).

Third Amendment to the 2013 Amended and Restated Stock Plan, effective as of December 22, 2015 (incorporated by reference to Exhibit 10.56 to Form 10-K filed on March 11, 2016).

Fourth Amendment to the 2013 Amended and Restated Stock Plan, effective as of December 13, 2016 (incorporated by reference to Exhibit 1.1 to Form 8-K filed on December 14, 2016).

Fifth Amendment to the 2013 Amended and Restated Stock Plan, as amended (incorporated by reference to Exhibit 10.59 to Form 10-K filed on March 16, 2017).

Director Agreement, dated March 28, 2017, between Ajit S.

Amendment to Amended and Restated 2013 Stock Plan, effective August 6, 2015 (incorporated by reference to Exhibit 10.1 to Form 10-Q

filed on August 7, 2015).

Amendment to the 2013 Amended and Restated Stock Plan, effective as of December 15, 2015 (incorporated by reference to Exhibit 10.1

to Form 8-K filed on December 16, 2015).

Amendment to the 2013 Amended and Restated Stock Plan, effective as of December 22, 2015 (incorporated by reference to Exhibit 10.56

to Form 10-K filed on March 11, 2016).

Amendment to the 2013 Amended and Restated Stock Plan, effective as of December 13, 2016 (incorporated by reference to Exhibit 1.1

to Form 8-K filed on December 14, 2016).

Amendment to the 2013 Amended and Restated Stock Plan, as amended (incorporated by reference to Exhibit 10.59 to Form 10-K filed

on March 16, 2017).

Agreement, dated March 28, 2017, between Ajit S.

Shetty and Actinium Pharmaceuticals, Inc.

(incorporated by reference to Exhibit 10.1 to Form 8-K filed on March 28, 2017).

Indemnity Agreement, dated March 28, 2017, between Ajit S.

(incorporated by reference to Exhibit

10.1 to Form 8-K filed on March 28, 2017).

Agreement, dated March 28, 2017, between Ajit S.

Shetty and Actinium Pharmaceuticals, Inc.

(incorporated by reference to Exhibit 10.2 to Form 8-K filed on March 28, 2017).

Confidential Information and Invention Assignment Agreement, dated March 28, 2017, between Ajit S.

(incorporated by reference to Exhibit

10.2 to Form 8-K filed on March 28, 2017).

Information and Invention Assignment Agreement, dated March 28, 2017, between Ajit S.

Shetty and Actinium Pharmaceuticals, Inc.

(incorporated by reference to Exhibit 10.3 to Form 8-K filed on March 28, 2017).

Amendment to Amended and Restated Consulting Agreement, dated May 5, 2017, by and between Actinium Pharmaceuticals, Inc.

and Sandesh Seth (incorporated by reference to Exhibit 10.1 to Form 8-K filed on May 11, 2017).

Employment Agreement, dated September 17, 2015, between Steve O’Loughlin and Actinium Pharmaceuticals, Inc.

(incorporated by reference to Exhibit 10.2 to Form 10-Q filed on May 15, 2017).

Indemnification Agreement, dated May 15, 2017, between Steve O’Loughlin and Actinium Pharmaceuticals, Inc.

(incorporated by reference to Exhibit 10.3 to Form 10-Q filed on May 15, 2017).

Sixth Amendment to the 2013 Amended and Restated Stock Plan, as amended (incorporated by reference to Exhibit 10.56 to Form 10-K filed on March 16, 2018).

Director Agreement, dated April 27, 2018, by and between Actinium Pharmaceuticals, Inc.

(incorporated

by reference to Exhibit 10.3 to Form 8-K filed on March 28, 2017).

to Amended and Restated Consulting Agreement, dated May 5, 2017, by and between Actinium Pharmaceuticals, Inc.

and Sandesh Seth (incorporated

by reference to Exhibit 10.1 to Form 8-K filed on May 11, 2017).

Agreement, dated September 17, 2015, between Steve O’Loughlin and Actinium Pharmaceuticals, Inc.

(incorporated by reference

to Exhibit 10.2 to Form 10-Q filed on May 15, 2017).

Indemnification

Agreement, dated May 15, 2017, between Steve O’Loughlin and Actinium Pharmaceuticals, Inc.

(incorporated by reference to Exhibit

10.3 to Form 10-Q filed on May 15, 2017).

Amendment to the 2013 Amended and Restated Stock Plan, as amended (incorporated by reference to Exhibit 10.56 to Form 10-K filed

on March 16, 2018).

Agreement, dated April 27, 2018, by and between Actinium Pharmaceuticals, Inc.

and Jeffrey W.

Chell (incorporated by reference to Exhibit 10.1 to Form 8-K filed on May 1, 2018).

Indemnity Agreement, dated April 27, 2018, by and between Actinium Pharmaceuticals, Inc.

Chell (incorporated by reference to

Exhibit 10.1 to Form 8-K filed on May 1, 2018).

Agreement, dated April 27, 2018, by and between Actinium Pharmaceuticals, Inc.

and Jeffrey W.

Chell (incorporated by reference to Exhibit 10.2 to Form 8-K filed on May 1, 2018).

Confidential Information and Invention Assignment Agreement, dated April 27, 2018, by and between Actinium Pharmaceuticals, Inc.

Chell (incorporated by reference to

Exhibit 10.2 to Form 8-K filed on May 1, 2018).

Information and Invention Assignment Agreement, dated April 27, 2018, by and between Actinium Pharmaceuticals, Inc.

and Jeffrey W.

Chell (incorporated by reference to Exhibit 10.3 to Form 8-K filed on May 1, 2018).

Employment Agreement, dated August 8, 2018, by and between Actinium Pharmaceuticals, Inc.

and Sandesh Seth (incorporated by reference to Exhibit 10.1 to Form 10-Q filed on August 9, 2018).

Employment Agreement, dated August 8, 2018, by and between Actinium Pharmaceuticals, Inc.

and Steve O’Loughlin (incorporated by reference to Exhibit 10.2 to Form 10-Q filed on August 9, 2018).

Seventh Amendment to the 2013 Amended and Restated Stock Plan, as amended (incorporated by reference to Exhibit 10.39 to Form 10-K filed on March 15, 2019).

Form of Securities Purchase Agreement (incorporated by reference to Exhibit 10.1 to Form 8-K filed on June 18, 2020).

Employment Agreement, dated August 12, 2020, by and between Actinium Pharmaceuticals, Inc.

and Sandesh Seth (incorporated by reference to Exhibit 10.3 to Form 10-Q filed on August 14, 2020).

Employment Agreement, dated August 12, 2020, by and between Actinium Pharmaceuticals, Inc.

and Steve O’Loughlin (incorporated by reference to Exhibit 10.4 to Form 10-Q filed on August 14, 2020).

Actinium Pharmaceuticals, Inc.

Agreement, dated August 8, 2018, by and between Actinium Pharmaceuticals, Inc.

and Sandesh Seth (incorporated by reference to Exhibit

10.1 to Form 10-Q filed on August 9, 2018).

Agreement, dated August 8, 2018, by and between Actinium Pharmaceuticals, Inc.

and Steve O’Loughlin (incorporated by reference

to Exhibit 10.2 to Form 10-Q filed on August 9, 2018).

Amendment to the 2013 Amended and Restated Stock Plan, as amended (incorporated by reference to Exhibit 10.39 to Form 10-K filed

on March 15, 2019).

of Securities Purchase Agreement (incorporated by reference to Exhibit 10.1 to Form 8-K filed on June 18, 2020).

Agreement, dated August 12, 2020, by and between Actinium Pharmaceuticals, Inc.

and Sandesh Seth (incorporated by reference to Exhibit

10.3 to Form 10-Q filed on August 14, 2020).

Agreement, dated August 12, 2020, by and between Actinium Pharmaceuticals, Inc.

and Steve O’Loughlin (incorporated by reference

to Exhibit 10.4 to Form 10-Q filed on August 14, 2020).

Pharmaceuticals, Inc.

2019 Stock Plan (incorporated by reference to Exhibit 10.1 to Form 8-K filed on November 20, 2020).

First Amendment to the

Actinium Pharmaceuticals, Inc.

Amendment to the Actinium Pharmaceuticals, Inc.

2019 Plan (incorporated by reference to Exhibit 10.2 to Form 8-K filed on November 20,

Second Amendment to the

Actinium Pharmaceuticals, Inc.

Amendment to the Actinium Pharmaceuticals, Inc.

2019 Plan (incorporated by reference to Exhibit 10.1 to Form 8-K filed on November 9,

Exclusive License and Supply

Agreement, dated April 7, 2022, between Immedica Pharma AB and Actinium Pharmaceuticals, Inc.

(incorporated by reference to Exhibit 10.1

to Form 10-Q filed on August 12, 2022).

Sublease Agreement, dated

April 28, 2022, between ABN AMRO HOLDINGS USA LLC and Actinium Pharmaceuticals, Inc.

(incorporated by reference to Exhibit 10.2

to Form 10-Q filed on August 12, 2022).

Third Amendment to the

Actinium Pharmaceuticals, Inc.

2019 Stock Plan (incorporated by reference to Exhibit 99.4 to the Registration Statement on Form S-8

filed on August 19, 2022).

Fourth Amendment to the

License and Supply Agreement, dated April 7, 2022, between Immedica Pharma AB and Actinium Pharmaceuticals, Inc.

(incorporated by

reference to Exhibit 10.1 to Form 10-Q filed on August 12, 2022).

Agreement, dated April 28, 2022, between ABN AMRO HOLDINGS USA LLC and Actinium Pharmaceuticals, Inc.

(incorporated by reference

to Exhibit 10.2 to Form 10-Q filed on August 12, 2022).

Amendment to the Actinium Pharmaceuticals, Inc.

2019 Stock Plan (incorporated by reference to Exhibit 99.4 to the Registration Statement

on Form S-8 filed on August 19, 2022).

Amendment to the Actinium Pharmaceuticals, Inc.

2019 Stock Plan (incorporated by reference to Exhibit 10.1 to Form 8-K filed

on December 30, 2022).

to Employment Agreement, dated November 1, 2023, by and between Actinium Pharmaceuticals, Inc.

and Sandesh Seth (incorporated by

reference to Exhibit 10.1 to Form 10-Q filed on November 2, 2023).

of Ethics (incorporated by reference to Exhibit 14.1 to Form 8-K filed on January 2, 2013).

Actinium Pharmaceuticals, Inc.

2019 Stock Plan (incorporated by reference to Exhibit 10.1 to Form 8-K filed on December 30,

Amendment to Employment

Agreement, dated November 1, 2023, by and between Actinium Pharmaceuticals, Inc.

and Sandesh Seth (incorporated by reference to Exhibit

10.1 to Form 10-Q filed on November 2, 2023).

Code of Ethics (incorporated

by reference to Exhibit 14.1 to Form 8-K filed on January 2, 2013).

List of Subsidiaries (incorporated

by reference to Exhibit 21.1 to Form 10-K filed on March 16, 2015).

Consent of Marcum LLP.

Insider Trading Policy and Procedures (included in Exhibit 14.1).

of Subsidiaries (incorporated by reference to Exhibit 21.1 to Form 10-K filed on March 16, 2015).

of Marcum LLP.

Certification of Principal Executive Officer, pursuant to 18 U.S.C.

7 unchanged sentences

Actinium Pharmaceuticals, Inc.

Compensation Recovery Policy.

Compensation Recovery Policy (incorporated by reference to Exhibit 97.1 to Form 10-K filed on March 29, 2024).

Inline XBRL Instance Document

Inline XBRL Taxonomy Schema

Inline XBRL Taxonomy Calculation Linkbase Document

Inline XBRL Taxonomy Definition Linkbase Document

Inline XBRL Taxonomy Label Linkbase Document

Inline XBRL Taxonomy Presentation Linkbase Document

Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

Inline XBRL Taxonomy Calculation

Linkbase Document

Inline XBRL Taxonomy Definition

Linkbase Document

Inline XBRL Taxonomy Label

Linkbase Document

Inline XBRL Taxonomy Presentation

Linkbase Document

Cover Page Interactive

Data File (formatted as Inline XBRL and contained in Exhibit 101).

Filed herewith.

Furnished herewith.

Indicates a management contract or compensatory plan or arrangement.

Certain of the schedules (and similar attachments) to this Exhibit have been omitted in accordance with Regulation S-K Item 601(a)(5) of Regulation S-K under the Securities Act of 1933, as amended, because they do not contain information material to an investment or voting decision and that information is not otherwise disclosed in the Exhibit or the disclosure document.

The registrant hereby agrees to furnish a copy of all omitted schedules (or similar attachments) to the SEC upon its request.

Portions of this exhibit have been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K under the Securities Act of 1933, as amended, because they are both (i) not material and (ii) the type that the registrant treats as private or confidential.

A copy of the omitted portions will be furnished to the SEC upon its request.

Pursuant to the requirements

of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant.

Indicates a management

contract or compensatory plan or arrangement.

Certain of the schedules

(and similar attachments) to this Exhibit have been omitted in accordance with Regulation S-K Item 601(a)(5) of Regulation S-K under

the Securities Act of 1933, as amended, because they do not contain information material to an investment or voting decision and

that information is not otherwise disclosed in the Exhibit or the disclosure document.

The registrant hereby agrees to furnish a

copy of all omitted schedules (or similar attachments) to the SEC upon its request.

Portions of this exhibit

have been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K under the Securities Act of 1933, as amended, because they are

both (i) not material and (ii) the type that the registrant treats as private or confidential.

A copy of the omitted portions will

be furnished to the SEC upon its request.

to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the

March 31, 2025

ACTINIUM PHARMACEUTICALS, INC.

/s/ Sandesh Seth

Chairman and Chief Executive Officer (Duly Authorized Officer,

Chairman and Chief Executive Officer (Duly Authorized

Principal Executive Officer)

/s/ Steve O’Loughlin

Steve O’Loughlin

2 unchanged sentences

Principal Financial and Accounting Officer)

Pursuant to the requirements

of the Securities Exchange Act of 1934, this report has been signed below by the following person on behalf of the Registrant and in the

capacities and on the dates indicated.

/s/ Sandesh Seth

to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following person on behalf of the

Registrant and in the capacities and on the dates indicated.

Chairman and Chief Executive Officer

1 unchanged sentence

(Principal Executive Officer)

/s/ Jeffrey Chell

/s/ June Almenoff

March 31, 2025

June Almenoff

March 31, 2025

Jeffrey Chell

/s/ David Nicholson

March 31, 2025

David Nicholson

/s/ Richard I.

March 31, 2025

1 unchanged sentence

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.

What changed 10-K

Item 9A. Controls and Procedures