5. WARRANTS

The following table summarizes information with regard to warrants outstanding at June 30, 2026:

June 2026 Private Placement

On June 2, 2026, the Company entered into a securities purchase agreement and registration rights agreement with certain institutional, accredited investors pursuant to which the Company sold in a private placement (i) the June 2026 Pre-Funded Warrants to purchase up to 3,655,917 shares of common stock, and (ii) Series G Warrants to purchase up to 3,655,917 shares of common stock and (iii) Series H Warrants to purchase up to 3,655,917 shares of common stock. The Pre-Funded Warrants are immediately exercisable for shares of common stock at an exercise price of $0.0001 per share, and expire once exercised in full. As of August 7, 2026, 3,433,336 of the June 2026 Pre-Funded Warrants have been exercised and 222,581 remain unexercised and outstanding.

June 2026 Series G Warrants, June 2026 Placement Agent Warrants and Series H Warrants

The Series G Warrants and Series H Warrants are immediately exercisable for shares of common stock at an exercise price of $2.075 per share. The Series G Warrants expire on June 26, 2031 and the Series H Warrants expire on June 26, 2028. Under the terms of the Company’s engagement letter with Wainwright, the Company issued Wainwright (or its designees) warrants to purchase up to 255,914 shares of common stock on the same terms as the Series G Warrants, except that the exercise price is $2.906 per share.

October 2025 Private Placement

On October 9, 2025, the Company entered into a securities purchase agreement with two institutional investors pursuant to which the Company sold in a private placement (i) an aggregate of 43,750 shares of common stock and prefunded warrants to purchase up to 518,750 shares of common stock. The October 2025 Prefunded Warrants were exercisable for shares of common stock at an exercise price of $0.0004 per share, were immediately exercisable and expired once exercised in full. As of March 31, 2026, all of the October 2025 Prefunded Warrants were exercised in full.

October 2025 Series F Warrants

Pursuant to the October 2025 private placement, the Company issued 1,125,000 Series F warrants for common stock with an exercise price of $7.00 per share and 45,000 Placement Agent Series F warrants for common stock with an exercise price of $10.00 per share. The Series F warrants and Placement Agent Series F warrants became exercisable immediately upon issuance and for a period of five and one half years following the date of issuance.

April 2025 Class E Warrants

Pursuant to the April 2025 private placement, certain existing holders of the Company’s Class C Warrants agreed to purchase an aggregate of 271,277 shares of the Company’s common stock. As a part of the April 2025 private placement, the Company sold 271,277 Class E Warrants to the Class C Warrant exercising holders for $0.50 per warrant. The Class E warrants have an exercise price of $13.68 per share, became exercisable immediately upon issuance and for a period of five years following the date of issuance.

Fundamental Transaction

The warrants described above include certain rights upon a “fundamental transaction” (as defined in such warrants), including the right of the holders thereof to receive from the Company or a successor entity cash or the same type or form of consideration (and in the same proportion) that is being offered and paid to the holders of common stock in such fundamental transaction in the amount of the Black Scholes value (as defined in such warrants) of the unexercised portion of the applicable warrants on the date of the consummation of such fundamental transaction.

Warrant Accounting

Each of the Company’s warrants to acquire shares of common stock were accounted for as equity classified financial instruments as they meet the requirements for equity classification under ASC 815, Derivatives and Hedging.