16. Subsequent event

In April 2026, the Company entered into a stock purchase agreement with Mayo Clinic, pursuant to which the Company agreed to sell to Mayo Clinic, and Mayo Clinic agreed to purchase from the Company, (i) 7,507,507 shares (the Initial Shares) of the Company’s common stock at a price of $3.33 per share, for gross proceeds of approximately $25.0 million, and (ii) if elected by Mayo Clinic on or prior to August 31, 2026 (the Election), an additional 7,507,507 shares of common stock (the Additional Shares) at a price of $3.33 per share, for additional gross proceeds of approximately $25.0 million. The closing of the purchase and sale of the Initial Shares occurred on April 15, 2026. If the Election is made, the closing of the purchase and sale of the Additional Shares is expected to occur between the tenth and twentieth business days following Mayo Clinic’s delivery of the Election to the Company, subject to customary closing conditions.