(12) Subsequent Events

Subsequent to March 31, 2026, the Company sold 0.8 million shares of its common stock pursuant to the ATM through May 13, 2026 for net proceeds of $1.8 million.

On April 9, 2026, the Company entered into an Underwriting Agreement with Canaccord Genuity LLC, acting as representative of the underwriters with respect to an underwritten public offering of 5.3 million units of the Company, each unit consisting of one share of its common stock, par value $0.0001 per share and one warrant to purchase one share of the Company Stock (the “Canaccord 2026 Warrants”). The units were priced at $1.90 per unit and the offering resulted in gross proceeds of $10.0 million, before deducting underwriting discounts, fees and other related expenses. Net proceeds from the transaction totaled $9.3 million. The Canaccord 2026 Warrants have an exercise price of $2.50 per share, are exercisable after six months from their issuance date, and expire five and one half years from their date of issuance.