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Any of these developments, if they were to occur, could have a materially adverse effect on our business, financial condition, results of operations, or prospects.
+Added: We are subject to securities class action litigation and a stockholder derivative complaint, and may become subject to additional litigation, which could result in substantial costs and divert management's attention.
+Added: On June 10, 2026, a purported securities class action complaint was filed against us and certain of our officers in the United States District Court for the Southern District of California.
+Added: The complaint alleges violations of the federal securities laws and seeks damages, costs, and other unspecified relief.
+Added: In August 2026, a purported stockholder derivative complaint was filed against us, our board of directors, and certain of our officers in the United States District Court for the Southern District of California.
+Added: The complaint includes allegations of breaches of fiduciary duty and violations of federal securities laws and seeks damages, costs, and other unspecified relief.
+Added: We believe the claims raised in both complaints are without merit and intend to defend each of the matters vigorously.
+Added: However, litigation is inherently uncertain, and we cannot predict the outcome of either of these matters or any future litigation.
+Added: Securities litigation and other legal proceedings can be expensive, time-consuming, and disruptive to normal business operations.
+Added: Regardless of the outcome, such proceedings may result in substantial legal fees and other costs, divert management's attention from our business and operations, harm our reputation, affect our ability to attract and retain employees, and adversely impact our relationships with business partners, clinical investigators, patients, and investors.
+Added: In addition, unfavorable outcomes could result in substantial monetary damages, judgments, settlements, fines, penalties, or other remedies that could have a material adverse effect on our business, financial condition, results of operations, and cash flows.
+Added: We may also be subject to additional lawsuits, derivative actions, regulatory inquiries, or investigations relating to the same or similar subject matter.
+Added: Any such proceedings could increase our costs and expose us to additional risks and uncertainties.
Unregistered Sales of Equity Securities and Use of Proceeds.
4 unchanged sentences
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.