Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common
Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market Information
Our common stock trades on
The Nasdaq Capital Market under the symbol “PLYX”. Trading of our common stock commenced on February 2, 2026 in connection
with our direct listing public offering. Prior to that time, there was no established public trading market for our common stock.
Holders
As of February 1, 2026, we
had approximately 329 holders of record of our common stock. This number does not include beneficial owners whose shares were held in
street name.
Dividend Policy
We have never declared or
paid dividends or made other distributions on our common stock. We currently intend to retain all available funds and any future earnings
to fund the development, commercialization and growth of our business, and therefore we do not anticipate declaring or paying any dividends
or making other distributions on our common stock in the foreseeable future. Any future determination as to the declaration and payment
of dividends or other distributions, if any, will be at the discretion of our Board. Any such determination will also depend upon our
business prospects, operating results, financial condition, capital requirements, general business conditions and other factors that our
Board may deem relevant. Our future ability to pay dividends or make other distributions on our common stock may also be limited by the
terms of any future debt securities or credit facility.
Recent Sales of Unregistered Securities
The following sets forth information
regarding all unregistered securities we issued during the year ended December 31, 2025.
Issuances of Capital Stock
In January 2025, we issued 213,201 shares of our
common stock at a purchase price per share of $1.17 to an existing investor for aggregate consideration of $250 thousand in cash.
In January 2025, we issued an aggregate of
3,704,307 shares of common stock to Rush and Mstone in return for an exclusive gene therapy patent license. Of the total share issuance,
277,823 shares were issued to Rush and 3,246,484 shares were issued to Mstone.
In July 2025 and through August 29, 2025,
we issued 1,802,749 shares of common stock to investors at a price per share of $1.72 for aggregate consideration of $3.1 million.
In September 2025, the Company issued an aggregate
of 158,020 shares of common stock to investors at a price per share of $2.55. These amounts consist of 143,756 shares issued at $2.80
per share, further reduced by an additional 14,264 bonus shares issued in connection with this offering for aggregate consideration of
$383 thousand.
In October 2025 through November 3, 2025, the Company
issued an aggregate of 313,449 shares of common stock to investors at a price per share of $2.58. These amounts consist of 290,376 shares
issued at $2.80 per share, further reduced by an additional 23,073 incremental bonus shares issued in connection with these offerings
for aggregate consideration of $802 thousand.
The offers, sales, and issuances of the securities
listed in this Item 5 under the subheading “ Issuances of Capital Stock ” were deemed to be exempt from registration
under the Securities Act in reliance on Section 4(a)(2) of the Securities Act or Rule 506 of Regulation D promulgated thereunder
as transactions by an issuer not involving a public offering, or Section 3(a)(9) of the Securities Act, involving an exchange
of securities exchanged by the issuer with its existing security holders exclusively where no commission or other remuneration is paid
or given directly or indirectly for soliciting such exchange. The recipients of securities in each of these transactions acquired the
securities for investment only and not with a view to or for sale in connection with any distribution thereof, and appropriate legends
were affixed to the securities issued in these transactions. Each of the recipients of securities in these transactions was an accredited
investor within the meaning of Rule 501 of Regulation D under the Securities Act.
Grants of Restricted Stock Units
During the year ended December 31, 2025, we granted
restricted stock units covering an aggregate of 2,092,757 shares of our common stock to employees, directors, and non-employee service
providers.
None of the foregoing transactions involved any
underwriters, underwriting discounts or commissions, or any public offering. The offers, sales and issuances of the securities listed
in this Item 5 under the subheading “ Grants of Restricted Stock Units ” were deemed to be exempt from registration
under the Securities Act in reliance on Rule 701 promulgated under the Securities Act as offers and sales of securities pursuant
to certain compensatory benefit plans and contracts relating to compensation in compliance with Rule 701 or Rule 175.
Issuer Purchases of Equity Securities
None.
Item 6. Reserved.
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