What changed 10-Q

Item 1. Legal Proceedings

2026-05-15 compared with 2025-11-06 · 11 added, 2 removed, 5 unchanged (72% of the section changed)

3 unchanged sentences

and our Chief Executive Officer, Sanjay Shukla.

The complaints allege certain violations of the U.S.

federal securities laws and seek unspecific damages.

The complaints assert that we and Mr.

Shukla violated Section 10(b) of the Exchange Act and SEC Rule 10b-5, by making materially false or misleading statements related to efzofitimod.

The complaints also assert that Mr.

Shukla violated Section 20(a) of the Exchange Act.

Plaintiffs seek class certification, an award of unspecified damages, and award of reasonable costs and expenses, including attorneys’ fees and expert fees, and further relief as the court may deem just and proper.

On February 9, 2026, the court consolidated the two cases and appointed co-lead plaintiffs to oversee the litigation.

On May 1, 2026, co-lead plaintiffs filed an Amended Consolidated Complaint.

The Amended Consolidated Complaint is based on the same underlying allegations as the original complaints, asserts the same claims and seeks the same relief, and adds our Chief Financial Officer, Jill M.

Broadfoot, as a defendant.

Under the current schedule, the deadline to respond to the Amended Consolidated Complaint, including by filing a motion to dismiss, is July 17, 2026.

Any opposition to a motion to dismiss is due August 28, 2026, with any reply due September 28, 2026.

We believe we have meritorious defenses and intend to vigorously defend the Company in this matter.

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.