Stockholders' Deficit

12 Months Ended

Dec. 31, 2025

Stockholders' Deficit

Stockholders' Deficit

9. Stockholders’ Deficit

Warrants

As of December 31, 2025 outstanding warrants to purchase shares of Common Stock were as follows:

Shares		Exercise Price		Expiration Date
1,867,912	(1)	$	3.25	January 26, 2026
4,285,935	(1)	$	3.25	March 16, 2026
1,807,396	(1)	$	5.00	February 8, 2027
2,692,604	(1)	$	5.00	March 30, 2027
1,200		$	1,680.00	None
10,655,047

1) On January 23, 2026, the Company entered into amendments to certain outstanding Innoviva SO warrants to extend their expiration dates to January 26, 2031, and amended the related voting agreement to align with the revised warrant expiration date or FDA approval, as applicable.

Shares Reserved for Future Issuance

As of December 31, 2025 and 2024, the Company had reserved shares of its Common Stock for future issuance as follows:

	December 31, 2025	December 31, 2024
Stock options outstanding	4,803,921	3,755,965
Unvested restricted stock units	152,500	220,000
Shares issuable under the Employee Stock Purchase Plan	14,032	11,890
Shares available for future grants under the 2016 Plan	3,986,228	3,405,908
Warrants outstanding	10,655,047	19,365,847
Shares issuable upon the conversion of the Convertible Loan	24,500,000	22,899,123
Total shares reserved	44,111,728	49,658,733