7. ATM Program/Open Market Sales Agreement

On June 20, 2025, the Company entered into an Open Market Sale AgreementSM (the “Sales Agreement”) with Jefferies LLC, as sales agent ("Jefferies"), pursuant to which the Company may, from time to time, issue and sell shares of its common stock, in an aggregate offering price of up to $185,000,000, through or to Jefferies. Under the terms of the Sales Agreement, Jefferies may sell the shares of the Company's common stock at market prices by any method that is deemed to be an "at the market offering" as defined in Rule 415 under the Securities Act of 1933, as amended. During the nine months ended September 30, 2026, the Company sold 27,166,262 shares of the Company's common stock pursuant to the Sales Agreement, including 25,000,000 shares sold to RA Capital Management, for aggregate net proceeds of $52.0 million. On July 29, 2026, 18,030,000 of the shares sold to RA Capital Management were exchanged for pre-funded warrants to purchase shares of common stock. As of September 30, 2026, $131.5 million of common stock remained available for sale pursuant to the prospectus supplement relating to the Company's ATM program.