18. Subsequent Events

In April 2026, the Company entered into an exchange agreement with RA Capital Management, L.P. and RA Capital Healthcare Fund, L.P. (together, RA Capital), pursuant to which RA Capital exchanged 250,000 shares of the Company's common stock, par value $0.0001 per share, for a pre-funded warrant to acquire 250,000 shares of the Company's common stock. The 250,000 shares of common stock subject to the exchange agreements were retired on the date of the exchange.

The pre-funded warrant has an exercise price of $0.0001 per underlying share. The exercise price and the number of shares of common stock issuable upon exercise of the pre-funded warrant is subject to appropriate adjustments in the event of certain stock dividends and distributions, stock splits, stock combinations, reclassifications or similar events affecting the common stock. The pre-funded warrant is exercisable from the date of issuance by means of a cashless exercise. Under the pre-funded warrant, the Company may not effect the exercise of the pre-funded warrant, and a holder will not be entitled to exercise any portion of the pre-funded warrant that, upon giving effect to such exercise, would cause: (i) the aggregate number of shares of common stock beneficially owned by the holder (together with its affiliates) to exceed 9.99% of the number of shares of common stock outstanding immediately after giving effect to the exercise, or (ii) the combined voting power of the Company’s securities beneficially owned by the holder (together with its affiliates) to exceed 9.99% of the combined voting power of all of the Company’s securities then outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the pre-funded warrant, unless such percentage is increased upon at least 61 days’ prior notice, but not in excess of 19.99%.