16. Subsequent Events

On July 17, 2026, the Company amended its amended and restated certificate of incorporation and effected a reverse stock split pursuant to which every 5.9218 shares of the Company's common stock issued and outstanding were automatically reclassified into one new share of common stock, subject to the treatment of fractional shares as previously described, without any action on the part of the holders.

On July 17, 2026, the Company entered into an amendment to the 2023 Sanofi License Agreement under which it extended the nomination period for Sanofi to select one additional target under the license and expanded the license to include the Company's ELXR Platform for that target.

On July 23, 2026, the Company's stockholders approved the 2026 Equity Incentive Plan (the "2026 Plan"), and the 2026 Plan became effective upon the effectiveness of the Company's registration statement in connection with its initial public offering. The 2026 Plan increased the aggregate number of shares of common stock reserved for issuance under the Company's equity compensation plans by 2,420,000 shares.

On July 23, 2026, grants of stock options previously approved by the Board of Directors on July 16, 2026 became effective upon the effectiveness of the Company's registration statement. The grants covered an aggregate of

2,066,997 shares of common stock to certain employees and members of the Board of Directors. Certain awards are subject to service-based vesting requirements and certain awards are subject to both market-based vesting conditions tied to the future trading price of the Company's common stock and service-based vesting requirements. The exercise price of the options equals the initial public offering price of $15.00 per share. The Company is evaluating the accounting impact of these awards, including the determination of grant-date fair value and resulting stock-based compensation expense to be recognized in future periods.

On July 23, 2026, the Securities and Exchange Commission declared effective the Company's Registration Statement on Form S-1 relating to its initial public offering. On July 27, 2026, the Company completed its initial public offering of 9,867,000 shares of common stock at a public offering price of $15.00 per share, including the full exercise by the underwriters of their option to purchase 1,287,000 additional shares.

On July 17, 2026, Sanofi agreed to purchase 500,000 shares of the Company's common stock in a concurrent private placement at a purchase price equal to the initial public offering price of $15.00 per share. The private placement closed on July 27, 2026 concurrently with the completion of the Company's initial public offering and generated aggregate gross proceeds of approximately $7.5 million. Aggregate gross proceeds from the initial public offering and concurrent private placement were approximately $155.5 million before underwriting discounts, commissions and offering expenses.