Note 10. Subsequent Events

The Company has evaluated events that occurred through August 13, 2026, the date that the financial statements were issued, and determined that there have been no events that have occurred that would require adjustments to its disclosures in the financial statements except for the transactions described below.

PIPE Transaction

On July 1, 2026, the Company received aggregate gross proceeds of approximately $3.0 million, before deducting placement agent fees and other offering expenses, in connection with the Company’s issuance and sale of (i) Pre-Funded Warrants to purchase up to 960,000 shares of Common Stock, (ii) Series C-1 Warrants to purchase up to 960,000 shares of Common Stock, and (iii) Series C-2 Warrants to purchase up to 960,000 shares of Common Stock, at a combined purchase price of $3.1249 per Pre-Funded Warrant and accompanying Series C-1 Warrants and Series C-2 Warrants, pursuant to the terms of the Purchase Agreement.

Pre-funded Warrant Exercises

In July 2026, a holder exercised pre-funded warrants to purchase 469,000 shares of common stock via a cash exercise, at an exercise price of $0.0001 per share, for an aggregate exercise price of $46.90. The shares were issued in accordance with the terms of the underlying pre-funded warrant agreement.