Item 4 — Purpose of Transaction
On September 15, 2026, the Issuer and the reporting person entered into a securities purchase agreement relating to the issuance and sale of 298,508 shares of the Issuer's common stock and accompanying warrants to purchase up to 298,508 shares of common stock in a private placement. The transaction closed on September 15, 2026. The warrants are exercisable at any time, have an exercise price of $1.55 per share, and expire on the five-year anniversary of the date of issuance. The warrants also contain standard anti-dilution adjustments to the exercise price including for stock splits, stock dividends, rights offerings and pro rata distributions. The Issuer issued the shares and warrants to the reporting person at an offering price of $1.675 per share and accompanying warrant for gross proceeds of approximately $0.5 million. The reporting person made the acquisition described above in support of the Issuer's business plan and for investment purposes. The reporting person may acquire or dispose of additional securities or sell securities of the Issuer from time to time in the market or in private transactions, including as a result of ownership of the warrants referred to above. However, the reporting person does not have any other agreements to acquire additional shares of common stock at this time, except for option agreements governing 102,965 outstanding options granted to the reporting person in the course of his employment with the Issuer. As Chief Scientific Officer of the Issuer, the reporting person is involved in making material business decisions regarding the Issuer's policies and practices and may be involved in the consideration of various proposals considered by the Issuer's board of directors.