|
Delaware
(State or other jurisdiction of
incorporation or organization) |
| |
2836
(Primary Standard Industrial
Classification Code Number) |
| |
88-0588063
(I.R.S. Employer
Identification Number) |
|
|
Ryan A. Murr
Branden C. Berns Melanie E. Neary Gibson, Dunn & Crutcher LLP One Embarcadero, Suite 2600 San Francisco, CA 94111-3715 (415) 393-8373 |
| |
Matthew Batters
General Counsel and Secretary 221 Crescent St., Building 17, Suite 102b Waltham, MA 02453 (650) 394-5230 |
| |
Divakar Gupta
Charles S. Kim Kristin VanderPas Darah Protas Cooley LLP 55 Hudson Yards New York, NY 10001-2157 (212) 479-6000 |
|
|
Large accelerated filer
☐
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Accelerated filer
☐
|
|
|
Non-accelerated filer
☒
|
| | | | | | | |
Smaller reporting company
☒
|
|
| | | | | | | | | |
Emerging growth company
☒
|
|
| | | | | 1 | | | |
| | | | | 12 | | | |
| | | | | 45 | | | |
| | | | | 47 | | | |
| | | | | 48 | | | |
| | | | | 49 | | | |
| | | | | 50 | | | |
| | | | | 51 | | | |
| | | | | 53 | | | |
| | | | | 69 | | | |
| | | | | 138 | | | |
| | | | | 145 | | | |
| | | | | 155 | | | |
| | | | | 157 | | | |
| | | | | 160 | | | |
| | | | | 164 | | | |
| | | | | 169 | | | |
| | | | | 171 | | | |
| | | | | 175 | | | |
| | | | | 183 | | | |
| | | | | 183 | | | |
| | | | | 183 | | | |
| | | | | F-1 | | |
| | |
FEBRUARY 4, 2022
(INCEPTION) TO DECEMBER 31, 2022 |
| |
PERIOD FROM
FEBRUARY 4, 2022 (INCEPTION) TO SEPTEMBER 30, 2022 |
| |
NINE MONTHS
ENDED SEPTEMBER 30, 2023 |
| |||||||||
| | |
(In thousands,
except share and per share data) |
| |
(In thousands, except share and
per share data) (unaudited) |
| ||||||||||||
Consolidated Statement of Operations and Comprehensive Loss Data:
|
| | | | | | | | | | | | | | | | | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | |
Research and development(1)
|
| | | $ | 27,786 | | | | | $ | 15,578 | | | | | $ | 39,470 | | |
General and administrative(2)
|
| | | | 2,941 | | | | | | 1,050 | | | | | | 16,378 | | |
Total operating expenses
|
| | | | 30,727 | | | | | | 16,628 | | | | | | 55,848 | | |
Loss from operations
|
| | | | (30,727) | | | | | | (16,628) | | | | | | (55,848) | | |
Other income (expenses), net: | | | | | | | | | | | | | | | | | | | |
Interest income
|
| | | | 92 | | | | | | — | | | | | | 3,598 | | |
Other financing expense
|
| | | | (9,150) | | | | | | (9,150) | | | | | | — | | |
Total other income (expense), net
|
| | | | (9,058) | | | | | | (9,150) | | | | | | 3,598 | | |
Net loss and comprehensive loss
|
| | | $ | (39,785) | | | | | $ | (25,778) | | | | | $ | (52,250) | | |
Net loss per share, basic and diluted(3)
|
| | | $ | (16.16) | | | | | $ | (17.00) | | | | | $ | (3.04) | | |
Weighted-average common shares outstanding,
basic and diluted |
| | | | 2,462,236 | | | | | | 1,516,736 | | | | | | 17,209,842 | | |
|
| | |
AS OF SEPTEMBER 30, 2023
|
| |||||||||
| | |
ACTUAL
|
| |
PRO FORMA(1)(2)
|
| ||||||
| | |
(In thousands)
|
| |||||||||
Consolidated Balance Sheet Data: | | | | | | | | | | | | | |
Cash
|
| | | $ | 188,269 | | | | | $ | | | |
Working capital(3)
|
| | | | 409,243 | | | | | | | | |
Total assets
|
| | | | 426,421 | | | | | | | | |
Total liabilities
|
| | | | 17,178 | | | | | | | | |
Accumulated (deficit) equity
|
| | | | (92,035) | | | | | | | | |
Total stockholders’ (deficit) equity
|
| | | | 409,243 | | | | | | | | |
| | |
AS OF DECEMBER 31, 2023
|
| |||||||||
| | |
ACTUAL
|
| |
PRO FORMA
|
| ||||||
Cash, cash equivalents, and marketable securities
|
| | | $ | | | | | $ | | | ||
Stockholders’ equity (deficit):
|
| | | | | | | | | | | | |
Preferred stock, $0.00001 par value: 10,000,000 shares authorized, no shares issued and outstanding, actual; 10,000,000 shares authorized, no shares issued and outstanding, pro forma
|
| | | | | | | | | | | | |
Common stock, $0.00001 par value: 400,000,000 shares authorized, shares issued and shares outstanding, actual; 400,000,000 shares authorized, shares issued and shares outstanding, pro forma;
|
| | | | | | | | | | | | |
Additional paid-in capital
|
| | | | | | | | | | | | |
Accumulated other comprehensive income
|
| | | | | | | | | | | | |
Accumulated deficit
|
| | | | | | | | | | | | |
Total stockholders’ equity
|
| | | | | | | | | | | | |
Total capitalization
|
| | | $ | | | | | $ | | | | |
|
|
Assumed public offering price per share
|
| | | | | | | | | $ | | | |
|
Historical net tangible book value (deficit) per share as of December 31, 2023
|
| | | $ | | | | | | | | | |
|
Increase in net tangible book value per share attributable to this offering
|
| | | | | | | | | | | | |
|
Pro forma net tangible book value per share immediately after this offering
|
| | | | | | | | | | | | |
|
Dilution per share to new investors in this offering
|
| | | | | | | | | $ | | | |
| | |
THREE MONTHS ENDED
SEPTEMBER 30, |
| | | | | | | |||||||||
| | |
2023
|
| |
2022
|
| |
$ CHANGE
|
| |||||||||
Operating expenses: | | | | | | | | | | | | | | | | | | | |
Research and development
|
| | | $ | 17,069 | | | | | $ | 9,885 | | | | | $ | 7,184 | | |
General and administrative
|
| | | | 7,236 | | | | | | 622 | | | | | | 6,614 | | |
Total operating expenses
|
| | | | 24,305 | | | | | | 10,507 | | | | | | 13,798 | | |
Loss from operations
|
| | | | (24,305) | | | | | | (10,507) | | | | | | (13,798) | | |
Other income (expense), net: | | | | | | | | | | | | | | | | | | | |
Interest income
|
| | | | 3,465 | | | | | | — | | | | | | 3,465 | | |
Other financing expense
|
| | | | — | | | | | | (9,150) | | | | | | 9,150 | | |
Total other income (expense), net
|
| | | | 3,465 | | | | | | (9,150) | | | | | | 12,615 | | |
Net loss
|
| | | $ | (20,840) | | | | | $ | (19,657) | | | | | $ | (1,183) | | |
|
| | |
THREE MONTHS ENDED
SEPTEMBER 30, |
| |||||||||
| | |
2023
|
| |
2022
|
| ||||||
External research and development costs by program: | | | | | | | | | | | | | |
APG777
|
| | | $ | 5,369 | | | | | $ | — | | |
Unallocated research and development costs: | | | | | | | | | | | | | |
External-discovery related costs and other
|
| | | | 8,698 | | | | | $ | 9,648 | | |
Personnel-related (including equity-based compensation)
|
| | | | 3,002 | | | | | | 237 | | |
Total research and development expenses
|
| | | $ | 17,069 | | | | | $ | 9,885 | | |
|
| | |
THREE MONTHS ENDED
SEPTEMBER 30, |
| |||||||||
| | |
2023
|
| |
2022
|
| ||||||
Personnel-related (including equity-based compensation)
|
| | | $ | 3,483 | | | | | $ | 202 | | |
Legal and professional fees
|
| | | | 2,022 | | | | | | 102 | | |
Other
|
| | | | 1,731 | | | | | | 318 | | |
Total general and administrative expenses
|
| | | $ | 7,236 | | | | | $ | 622 | | |
|
| | |
NINE MONTHS
ENDED SEPTEMBER 30, 2023 |
| |
PERIOD FROM
FEBRUARY 4, 2022 (INCEPTION) TO SEPTEMBER 30, 2022 |
| |
$ CHANGE
|
| |||||||||
Operating expenses: | | | | | | | | | | | | | | | | | | | |
Research and development
|
| | | $ | 39,470 | | | | | $ | 15,578 | | | | | $ | 23,892 | | |
General and administrative
|
| | | | 16,378 | | | | | | 1,050 | | | | | | 15,328 | | |
Total operating expenses
|
| | | | 55,848 | | | | | | 16,628 | | | | | | 39,220 | | |
Loss from operations
|
| | | | (55,848) | | | | | | (16,628) | | | | | | (39,220) | | |
Other income (expense), net: | | | | | | | | | | | | | | | | | | | |
Interest income
|
| | | | 3,598 | | | | | | — | | | | | | 3,598 | | |
Other financing expense
|
| | | | — | | | | | | (9,150) | | | | | | 9,150 | | |
Total other income (expense), net
|
| | | | 3,598 | | | | | | (9,150) | | | | | | 12,748 | | |
Net loss
|
| | | $ | (52,250) | | | | | $ | (25,778) | | | | | $ | (26,472) | | |
|
| | |
NINE MONTHS
ENDED SEPTEMBER 30, 2023 |
| |
PERIOD FROM
FEBRUARY 4, 2022 (INCEPTION) TO SEPTEMBER 30, 2022 |
| ||||||
External research and development costs by program: | | | | | | | | | | | | | |
APG777
|
| | | $ | 17,663 | | | | | $ | — | | |
Unallocated research and development costs: | | | | | | | | | | | | | |
In-process research and development acquisitions
|
| | | | — | | | | | | 2,942 | | |
External-discovery related costs and other
|
| | | | 16,961 | | | | | | 12,360 | | |
Personnel-related (including equity-based compensation)
|
| | | | 4,846 | | | | | | 276 | | |
Total research and development expenses
|
| | | $ | 39,470 | | | | | $ | 15,578 | | |
|
| | |
NINE MONTHS
ENDED SEPTEMBER 30, 2023 |
| |
PERIOD FROM
FEBRUARY 4, 2022 (INCEPTION) TO SEPTEMBER 30, 2022 |
| ||||||
Personnel-related (including equity-based compensation)
|
| | | $ | 7,669 | | | | | $ | 246 | | |
Legal and professional fees
|
| | | | 5,446 | | | | | | 655 | | |
Other
|
| | | | 3,263 | | | | | | 149 | | |
Total general and administrative expenses
|
| | | $ | 16,378 | | | | | $ | 1,050 | | |
|
| | |
NINE MONTHS
ENDED SEPTEMBER 30, 2023 |
| |
PERIOD FROM
FEBRUARY 4, 2022 (INCEPTION) TO SEPTEMBER 30, 2022 |
| ||||||
Net cash provided by (used in): | | | | | | | | | | | | | |
Operating activities
|
| | | $ | (45,007) | | | | | $ | (7,238) | | |
Investing activities
|
| | | | (234,218) | | | | | | — | | |
Financing activities
|
| | | | 315,604 | | | | | $ | 9,821 | | |
Net increase in cash
|
| | | $ | 36,379 | | | | | | 2,583 | | |
|
NAME
|
| |
AGE
|
| |
POSITION(S)
|
| |||
Executive Officers and Employee Director: | | | | | | | | | | |
Michael Henderson, M.D.
|
| | | | 34 | | | | Chief Executive Officer and Director | |
Carl Dambkowski, M.D.
|
| | | | 39 | | | | Chief Medical Officer | |
Jane Pritchett Henderson
|
| | | | 58 | | | | Chief Financial Officer | |
Non-Employee Directors: | | | | | | | | | | |
Mark C. McKenna(2)(3)
|
| | | | 44 | | | | Chair and Director | |
Jennifer Fox(1)(2)
|
| | | | 52 | | | | Director | |
Andrew Gottesdiener, M.D.(1)
|
| | | | 33 | | | | Director | |
Peter Harwin(1)(3)
|
| | | | 38 | | | | Director | |
William (BJ) Jones, Jr.(2)(3)
|
| | | | 60 | | | | Director | |
Tomas Kiselak
|
| | | | 37 | | | | Director | |
Nimish Shah(3)
|
| | | | 46 | | | | Director | |
Key Employees: | | | | | | | | | | |
Matthew Batters, J.D.
|
| | | | 48 | | | |
General Counsel and Corporate Secretary
|
|
Rebecca Dabora, Ph.D
|
| | | | 64 | | | | Chief Technical Officer | |
NAME AND PRINCIPAL POSITION
|
| |
YEAR
|
| |
SALARY
($) |
| |
BONUS
($)(2) |
| |
OPTIONS
($)(3) |
| |
STOCK
AWARDS (S)(4) |
| |
ALL OTHER
COMPENSATION ($)(5) |
| |
TOTAL
($) |
| |||||||||||||||||||||
Michael Henderson, M.D.
Chief Executive Officer |
| | | | 2023 | | | | | $ | 564,833 | | | | | $ | 606,375 | | | | | $ | 7,500,000 | | | | | | — | | | | | | — | | | | | $ | 8,671,208 | | |
| | | | | 2022(1) | | | | | $ | 145,833 | | | | | $ | 167,123 | | | | | | — | | | | | $ | 6,079,410 | | | | | $ | 56,750 | | | | | $ | 6,449,116 | | |
Carl Dambkowski, M.D.
Chief Medical Officer |
| | | | 2023 | | | | | $ | 477,083 | | | | | $ | 393,750 | | | | | $ | 3,300,000 | | | | | | — | | | | | | — | | | | | $ | 4,170,833 | | |
| | | | | 2022(6) | | | | | $ | 176,250 | | | | | $ | 212,932 | | | | | | — | | | | | $ | 1,194,638 | | | | | | — | | | | | $ | 1,583,820 | | |
Jane Pritchett Henderson(7)
Chief Financial Officer |
| | | | 2023 | | | | | $ | 469,311 | | | | | $ | 374,332 | | | | | $ | 3,300,000 | | | | | $ | 881,270 | | | | | | — | | | | | $ | 5,024,913 | | |
NAME
|
| |
TARGET ANNUAL CASH BONUS
(% OF BASE SALARY) |
| |||
Michael Henderson, M.D.
|
| | | | 55% | | |
Carl Dambkowski, M.D.
|
| | | | 45% | | |
Jane Pritchett Henderson
|
| | | | 45% | | |
NAME
|
| |
2023 ANNUAL CASH
BONUS |
| |||
Michael Henderson, M.D.
|
| | | $ | 606,375 | | |
Carl Dambkowski, M.D.
|
| | | $ | 393,750 | | |
Jane Pritchett Henderson
|
| | | $ | 374,332 | | |
| | |
Stock Options
|
| |
Stock Awards
|
| ||||||||||||||||||||||||||||||
NAME
|
| |
NUMBER OF
SECURITIES UNDERLYING UNEXERCISED OPTIONS EXERCISABLE (#) |
| |
NUMBER OF
SECURITIES UNDERLYING UNEXERCISED OPTIONS UNEXERCISABLE (#)(1) |
| |
OPTION
EXERCISE PRICE |
| |
OPTION
EXPIRATION DATE |
| |
NUMBER OF
SHARES THAT HAVE NOT VESTED |
| |
MARKET
VALUE OF SHARES THAT HAVE NOT VESTED ($) |
| ||||||||||||||||||
Michael Henderson, M.D.
|
| | | | — | | | | | | 398,512 | | | | | | 22.86 | | | | | | 12/18/2033 | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | 726,276(2) | | | | | | 20,292,151 | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | 215,533(3) | | | | | | 6,021,992 | | |
Carl Dambkowski, M.D.
|
| | | | — | | | | | | 175,345 | | | | | | 22.86 | | | | | | 12/18/2033 | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | 90,745(4) | | | | | | 2,535,415 | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | 126,597(5) | | | | | | 3,537,120 | | |
Jane Pritchett Henderson
|
| | | | — | | | | | | 175,345 | | | | | | 22.86 | | | | | | 12/18/2033 | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | 206,871(6) | | | | | | 5,779,976 | | |
Name
|
| |
Option
awards ($)(1)(2) |
| |
Stock
Awards ($)(3) |
| |
Fees earned
or paid in cash ($) |
| |
Total ($)
|
| ||||||||||||
Peter Harwin
|
| | | | 642,823 | | | | | | — | | | | | | 25,750 | | | | | | 668,573 | | |
Jennifer Fox
|
| | | | 0 | | | | | | 381,323 | | | | | | 33,250 | | | | | | 414,573 | | |
Andrew Gottesdiener, M.D.
|
| | | | 642,823 | | | | | | — | | | | | | 23,750 | | | | | | 666,573 | | |
William (BJ) Jones, Jr.
|
| | | | 0 | | | | | | 381,323 | | | | | | 30,333 | | | | | | 411,656 | | |
Tomas Kiselak
|
| | | | 642,823 | | | | | | — | | | | | | 20,000 | | | | | | 662,823 | | |
Mark McKenna
|
| | | | 940,000 | | | | | | — | | | | | | 32,870 | | | | | | 972,870 | | |
Nimish Shah
|
| | | | 642,823 | | | | | | — | | | | | | 22,000 | | | | | | 664,823 | | |
| | |
BEFORE THE OFFERING
|
| |
AFTER THE OFFERING
|
| ||||||||||||||||||||||||||||||
NAME OF BENEFICIAL OWNER
|
| |
NUMBER
OF SHARES OF VOTING COMMON STOCK OWNED |
| |
NUMBER
OF SHARES OF NON-VOTING COMMON STOCK OWNED |
| |
TOTAL
PERCENTAGE OWNERSHIP(1) |
| |
VOTING
POWER(2) |
| |
NUMBER
OF SHARES OF VOTING COMMON STOCK OWNED |
| |
NUMBER
OF SHARES OF NON-VOTING COMMON STOCK OWNED |
| |
TOTAL
PERCENTAGE OWNERSHIP(3) |
| |
VOTING
POWER(4) |
| ||||||||||||
GREATER THAN 5% STOCKHOLDERS: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Entities affiliated with Fairmount Funds Management LLC(5)
|
| | | | ** | | | | | | | | | | | | ** | | | | | | ** | | | | | | | | | | | | ** | | |
Entities affiliated with Venrock Healthcare Capital Partners III, L.P.(6)
|
| | | | ** | | | | | | | | | | | | ** | | | | | | ** | | | | | | | | | | | | ** | | |
Entities affiliated with Deep Track Capital, LP(7)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Entities affiliated with FMR LLC
(Fidelity)(8) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Paragon(9) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
BEFORE THE OFFERING
|
| |
AFTER THE OFFERING
|
| ||||||||||||||||||
NAME OF BENEFICIAL OWNER
|
| |
NUMBER
OF SHARES OF VOTING COMMON STOCK OWNED |
| |
NUMBER
OF SHARES OF NON-VOTING COMMON STOCK OWNED |
| |
TOTAL
PERCENTAGE OWNERSHIP(1) |
| |
VOTING
POWER(2) |
| |
NUMBER
OF SHARES OF VOTING COMMON STOCK OWNED |
| |
NUMBER
OF SHARES OF NON-VOTING COMMON STOCK OWNED |
| |
TOTAL
PERCENTAGE OWNERSHIP(3) |
| |
VOTING
POWER(4) |
|
Entities affiliated with RTW Investments, LP(10)
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Entities affiliated with RA
Capital(11) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Wellington Biomedical Innovation Master Investors (Cayman) II, L.P.(12)
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Perceptive Xontogeny Venture Fund II,
LP(13) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Entities affiliated with OrbiMed(14)
|
| | | | | | | | | | | | | | | | | | | | | | | | |
NAMED EXECUTIVE OFFICERS AND DIRECTORS:
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Michael Henderson, M.D.(15)
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Carl Dambkowski, M.D.(16)
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Jane Pritchett Henderson(17)
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Mark C. McKenna(18)
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Peter Harwin(5)
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Jennifer Fox
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Andrew Gottesdiener, M.D.
|
| | | | | | | | | | | | | | | | | | | | | | | | |
William (BJ) Jones, Jr.
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Tomas Kiselak(5)
|
| | | | | | | | | | | | | | | | | | | | | | | | |
Nimish Shah(6)
|
| | | | | | | | | | | | | | | | | | | | | | | | |
All executive officers and directors as a group (10 persons)(19)
|
| | | | | | | | | | | | | | | | | | | | | | | | |
PARTICIPANT
|
| |
SERIES A
PREFERRED UNITS |
| |
CASH
PURCHASE PRICE |
| ||||||
Entities affiliated with Fairmount
|
| | | | 10,000,000 | | | | | $ | 10,000,000 | | |
Entities affiliated with Venrock
|
| | | | 10,000,000 | | | | | $ | 10,000,000 | | |
PARTICIPANT
|
| |
SERIES B
PREFERRED UNITS |
| |
CASH
PURCHASE PRICE |
| ||||||
Entities affiliated with Fairmount
|
| | | | 7,565,304 | | | | | $ | 25,000,000.99 | | |
Entities affiliated with Venrock
|
| | | | 7,565,304 | | | | | $ | 25,000,000.99 | | |
PARTICIPANT
|
| |
COMMON
STOCK |
| |
CASH
PURCHASE PRICE |
| ||||||
Entities affiliated with Fairmount
|
| | | | 2,941,176 | | | | | $ | 49,999,992 | | |
Entities affiliated with Venrock
|
| | | | 1,750,000 | | | | | $ | 29,750,000 | | |
UNDERWRITER
|
| |
NUMBER OF
SHARES |
| |||
Jefferies LLC
|
| | | | | | |
BofA Securities, Inc.
|
| | | | | | |
Goldman Sachs & Co. LLC
|
| | | | | | |
Cowen and Company, LLC
|
| | | | | | |
Stifel, Nicolaus & Company, Incorporated
|
| | | | | | |
Total
|
| | | | | | |
|
| | |
PER SHARE
|
| |
TOTAL
|
| ||||||||||||||||||
| | |
WITHOUT
OPTION TO PURCHASE ADDITIONAL SHARES |
| |
WITH OPTION
TO PURCHASE ADDITIONAL SHARES |
| |
WITHOUT
OPTION TO PURCHASE ADDITIONAL SHARES |
| |
WITH
OPTION TO PURCHASE ADDITIONAL SHARES |
| ||||||||||||
Public offering price
|
| | | $ | | | | | $ | | | | | $ | | | | | $ | | | ||||
Underwriting discounts and commissions paid by us
|
| | | $ | | | | | $ | | | | | $ | | | | | $ | | | ||||
Proceeds to us, before expenses
|
| | | $ | | | | | $ | | | | | $ | | | | | $ | | | |
Period from February 4, 2022 (Inception) to December 31, 2022
|
| | | | | | |
| | | | | PAGE | | |
| | | | F-2 | | | |
| | | | F-3 | | | |
| | | | F-4 | | | |
| | | | F-5 | | | |
| | | | F-6 | | | |
| | | | F-7 | | |
Period from February 4, 2022 (Inception) to September 30, 2022 and nine months ended September 30, 2023 |
| | | | | | |
| | | | | PAGE | | |
| | | | F-27 | | | |
| | | | F-28 | | | |
| | | | F-30 | | | |
| | | | F-32 | | | |
| | | | F-33 | | |
| | |
DECEMBER 31,
2022 |
| |||
Assets | | | | | | | |
Current assets: | | | | | | | |
Cash
|
| | | $ | 151,890 | | |
Prepaid expenses and other current assets
|
| | | | 165 | | |
Total current assets
|
| | | | 152,055 | | |
Total assets
|
| | | $ | 152,055 | | |
Liabilities, preferred units and members’ deficit | | | | | | | |
Current liabilities: | | | | | | | |
Accounts payable
|
| | | $ | 418 | | |
Accrued expenses
|
| | | | 9,562 | | |
Total current liabilities
|
| | | | 9,980 | | |
Total liabilities
|
| | | | 9,980 | | |
Commitments and contingencies (Note 7)
|
| | | | | | |
Series A Preferred Units; 20,000,000 units authorized, issued and outstanding as of December 31, 2022; liquidation of $20,000 value as of December 31, 2022
|
| | | | 28,971 | | |
Series B Preferred Units; 45,089,212 units authorized, issued and outstanding as of December 31, 2022; liquidation value of $149,000 value as of December 31, 2022
|
| | | | 148,496 | | |
Members’ deficit: | | | | | | | |
Common Units; 5,000,000 units authorized, issued and outstanding as of December 31, 2022
|
| | | | 2,251 | | |
Incentive Units; 12,412,473 units authorized, 9,648,374 units issued and 1,625,086 units outstanding as of December 31, 2022
|
| | | | 2,142 | | |
Accumulated deficit
|
| | | | (39,785) | | |
Total members’ deficit
|
| | | | (35,392) | | |
Total liabilities, preferred units and members’ deficit
|
| | | $ | 152,055 | | |
|
| | |
PERIOD FROM
FEBRUARY 4, 2022 (INCEPTION) TO DECEMBER 31, 2022 |
| |||
Operating expenses: | | | | | | | |
Research and development(1)
|
| | | $ | 27,786 | | |
General and administrative(2)
|
| | | | 2,941 | | |
Total operating expenses
|
| | | | 30,727 | | |
Loss from operations
|
| | | | (30,727) | | |
Other income (expense), net: | | | | | | | |
Interest income
|
| | | | 92 | | |
Other financing expense
|
| | | | (9,150) | | |
Total other income (expense), net
|
| | | | (9,058) | | |
Net loss and comprehensive loss
|
| | | $ | (39,785) | | |
Net loss per unit, basic and diluted
|
| | | $ | (16.16) | | |
Weighted-average common units outstanding, basic and diluted
|
| | | | 2,462,236 | | |
|
| | |
SERIES A
PREFERRED UNITS |
| |
SERIES B
PREFERRED UNITS |
| | |
COMMON
UNITS |
| |
INCENTIVE
UNITS |
| |
ACCUMULATED
|
| |
TOTAL
MEMBERS’ |
| ||||||||||||||||||||||||||||||||||||||||||
| | |
UNITS
|
| |
AMOUNT
|
| |
UNITS
|
| |
AMOUNT
|
| | |
UNITS
|
| |
AMOUNT
|
| |
UNITS
|
| |
AMOUNT
|
| |
DEFICIT
|
| |
DEFICIT
|
| ||||||||||||||||||||||||||||||
Balance at February 4, 2022
(inception) |
| | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Issuance of Common Units in payment of option fee
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | 5,000,000 | | | | | | 2,251 | | | | | | — | | | | | | — | | | | | | — | | | | | | 2,251 | | |
Issuance of Series A Preferred
Units−initial closing, net of a net tranche option liability of $1,050 and issuance costs of $179 |
| | | | 5,000,000 | | | | | | 3,771 | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Issuance of Series A Preferred
Units−subsequent closings, inclusive of tranche option settlement |
| | | | 15,000,000 | | | | | | 25,200 | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Issuance of Series B Preferred Units, net of issuance costs of $504
|
| | | | — | | | | | | — | | | | | | 45,089,212 | | | | | | 148,496 | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Equity-based compensation expense
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | 1,625,086 | | | | | | 2,142 | | | | | | — | | | | | | 2,142 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (39,785) | | | | | | (39,785) | | |
Balance at December 31, 2022
|
| | | | 20,000,000 | | | | | $ | 28,971 | | | | | | 45,089,212 | | | | | $ | 148,496 | | | | | | | 5,000,000 | | | | | $ | 2,251 | | | | | | 1,625,086 | | | | | $ | 2,142 | | | | | $ | (39,785) | | | | | $ | (35,392) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
PERIOD FROM
FEBRUARY 4, 2022 (INCEPTION) TO DECEMBER 31, 2022 |
| |||
Cash flows from operating activities: | | | | | | | |
Net loss
|
| | | $ | (39,785) | | |
Adjustments to reconcile net loss to net cash from operating activities: | | | | | | | |
Loss on remeasurement of tranche option
|
| | | | 9,150 | | |
Equity-based compensation expense
|
| | | | 2,142 | | |
Non-cash research and development license expense
|
| | | | 2,251 | | |
Changes in operating assets and liabilities: | | | | | | | |
Prepaid expenses and other current assets
|
| | | | (165) | | |
Accounts payable
|
| | | | 418 | | |
Accrued expenses
|
| | | | 9,562 | | |
Net cash used in operating activities
|
| | | | (16,427) | | |
Cash flows from financing activities: | | | | | | | |
Proceeds from issuance of Series A Preferred Units and the Tranche Options, net
|
| | | | 19,821 | | |
Proceeds from issuance of Series B Preferred Units, net
|
| | | | 148,496 | | |
Net cash provided by financing activities
|
| | | | 168,317 | | |
Increase (decrease) in cash
|
| | | | 151,890 | | |
Cash, beginning of period
|
| | | | — | | |
Cash, end of period
|
| | | $ | 151,890 | | |
Supplemental disclosure of cash and non-cash activities: | | | | | | | |
Settlement of Series A Preferred Units tranche obligation
|
| | | $ | 10,200 | | |
|
| | |
PREFERRED UNIT
TRANCHE OPTION ASSET |
| |
PREFERRED UNIT
TRANCHE OPTION (LIABILITY) |
| |
PREFERRED UNIT
TRANCHE OPTION, NET |
| |||||||||
Balance as of February 4, 2022 (inception)
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | |
Issuance
|
| | | | 650 | | | | | | (1,700) | | | | | | (1,050) | | |
Change in fair value
|
| | | | (50) | | | | | | (9,100) | | | | | | (9,150) | | |
Transfer to temporary equity upon settlement
|
| | | | (600) | | | | | | 10,800 | | | | | | 10,200 | | |
Balance as of December 31, 2022
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | |
|
| | |
DECEMBER 31,
2022 |
| |||
Prepaid expenses
|
| | | $ | 108 | | |
Other current assets
|
| | | | 57 | | |
Total
|
| | | $ | 165 | | |
|
| | |
DECEMBER 31,
2022 |
| |||
Accrued external research and development costs
|
| | | $ | 9,047 | | |
Accrued employee compensation and bonuses
|
| | | | 515 | | |
Total
|
| | | $ | 9,562 | | |
|
| | |
PREFERRED
UNITS AUTHORIZED |
| |
PREFERRED
UNITS ISSUED AND OUTSTANDING |
| |
CARRYING
VALUE |
| |
LIQUIDATION
PREFERENCE |
| ||||||||||||
Series A Preferred Units
|
| | | | 20,000,000 | | | | | | 20,000,000 | | | | | $ | 28,971 | | | | | $ | 20,000 | | |
Series B Preferred Units
|
| | | | 45,089,212 | | | | | | 45,089,212 | | | | | | 148,496 | | | | | | 149,000 | | |
Total
|
| | | | 65,089,212 | | | | | | 65,089,212 | | | | | $ | 177,467 | | | | | $ | 169,000 | | |
|
| | |
FEBRUARY 4, 2022
(INCEPTION) TO DECEMBER 31, 2022 |
|
Risk free interest rate
|
| |
4.1% – 4.3%
|
|
Expected dividend yield
|
| |
0.0%
|
|
Expected term
|
| |
0.71 – 2.25
|
|
Expected volatility
|
| |
77.0% – 86.0%
|
|
| | |
NUMBER OF
UNITS |
| |
WEIGHTED-
AVERAGE STRIKE PRICE |
| |
WEIGHTED-
AVERAGE GRANT DATE FAIR VALUE PER UNIT |
| |||||||||
Unvested incentive units as of February 4, 2022 (date of inception)
|
| | | | — | | | | | $ | — | | | | | $ | — | | |
Granted
|
| | | | 9,648,374 | | | | | $ | 1.65 | | | | | $ | 1.15 | | |
Vested
|
| | | | (1,625,086) | | | | | $ | 2.91 | | | | | $ | 0.89 | | |
Canceled
|
| | | | — | | | | | | — | | | | | | — | | |
Unvested incentive units as of December 31, 2022
|
| | | | 8,023,288 | | | | | $ | 1.40 | | | | | $ | 1.20 | | |
|
| | |
FEBRUARY 4,
2022 (INCEPTION) TO DECEMBER 31, 2022 |
| |||
Research and development expense
|
| | | $ | 1,502 | | |
General and administrative expense
|
| | | | 640 | | |
Total
|
| | | $ | 2,142 | | |
|
| | |
FEBRUARY 4,
2022 (INCEPTION) TO DECEMBER 31, 2022 |
| |||
Numerator: | | | | | | | |
Net loss
|
| | | $ | (39,785) | | |
Net loss attributable to common unitholders, basic and diluted
|
| | | $ | (39,785) | | |
Denominator: | | | | | | | |
Weighted-average common units outstanding, basic and diluted
|
| | | | 2,462,236 | | |
Net loss per unit attributable to common unitholders, basic and diluted
|
| | | $ | (16.16) | | |
|
| | |
AS OF DECEMBER 31,
2022 |
| |||
Series A Preferred Units
|
| | | | 20,000,000 | | |
Series B Preferred Units
|
| | | | 45,089,212 | | |
Vested incentive units
|
| | | | 1,625,086 | | |
Unvested incentive units
|
| | | | 8,023,288 | | |
Total
|
| | | | 74,737,586 | | |
|
| | |
February 4,
2022 (inception) to December 31, 2022 |
| |||
U.S. federal statutory tax rate
|
| | | | (21.0)% | | |
Partnership operating expenses not subject to income taxes
|
| | | | 4.8 | | |
State and local income taxes, net of federal income tax benefit
|
| | | | (0.3) | | |
Nondeductible items
|
| | | | 1.1 | | |
Change in valuation allowance
|
| | | | 16.9 | | |
Tax credits
|
| | | | (1.5) | | |
Net deferred taxes
|
| | | | —% | | |
|
| | |
AS OF
DECEMBER 31, 2022 |
| |||
Deferred tax assets: | | | | | | | |
Capitalized license and research and development payments
|
| | | $ | 4,563 | | |
Net operating loss carryforwards
|
| | | | 620 | | |
Research and development credits
|
| | | | 697 | | |
Intangible assets
|
| | | | 695 | | |
Reserves and accruals not currently deductible
|
| | | | 108 | | |
Total deferred tax assets
|
| | | | 6,683 | | |
Valuation allowance
|
| | | | (6,683) | | |
Net deferred tax assets
|
| | | $ | — | | |
|
| | |
SEPTEMBER 30,
2023 |
| |
DECEMBER 31,
2022 |
| ||||||
Assets | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | |
Cash and cash equivalents
|
| | | $ | 188,269 | | | | | $ | 151,890 | | |
Marketable securities
|
| | | | 234,585 | | | | | | — | | |
Prepaid expenses and other current assets
|
| | | | 3,567 | | | | | | 165 | | |
Total current assets
|
| | | | 426,421 | | | | | | 152,055 | | |
Total assets
|
| | | $ | 426,421 | | | | | $ | 152,055 | | |
Liabilities, preferred units and stockholders’ equity/members’ deficit | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | |
Accounts payable
|
| | | $ | 1,208 | | | | | $ | 418 | | |
Accrued expenses
|
| | | | 15,970 | | | | | | 9,562 | | |
Total current liabilities
|
| | | | 17,178 | | | | | | 9,980 | | |
Total liabilities
|
| | | | 17,178 | | | | | | 9,980 | | |
Commitments and contingencies (Note 8) | | | | | | | | | | | | | |
Series A Preferred Units; no units authorized, issued and outstanding at
September 30, 2023; 20,000,000 units authorized, issued and outstanding as of December 31, 2022 |
| | | | — | | | | | | 28,971 | | |
Series B Preferred Units; no units authorized, issued and outstanding at
September 30, 2023; 45,089,212 units authorized, issued and outstanding as of December 31, 2022 |
| | | | — | | | | | | 148,496 | | |
Stockholders’ equity/members’ deficit: | | | | | | | | | | | | | |
Common Units; no units authorized, issued and outstanding at September 30, 2023; 5,000,000 units authorized, issued and outstanding as of December 31, 2022
|
| | | | — | | | | | | 2,251 | | |
Incentive Units; no units authorized, issued and outstanding at September 30, 2023; 12,412,473 units authorized, 9,648,374 issued and 1,625,086 outstanding as of December 31, 2022
|
| | | | — | | | | | | 2,142 | | |
Preferred Stock; 10,000,000 authorized, $0.00001 par value, no shares issued and outstanding September 30, 2023; No shares authorized, issued and outstanding at December 31, 2022
|
| | | | — | | | | | | — | | |
Common Stock; 400,000,000 authorized, $0.00001 par value, 50,674,296 issued and 48,017,621 outstanding as of September 30, 2023; No shares authorized, issued and outstanding at December 31, 2022
|
| | | | — | | | | | | — | | |
Additional paid-in capital
|
| | | | 501,143 | | | | | | — | | |
Accumulated other comprehensive income
|
| | | | 135 | | | | | | — | | |
Accumulated deficit
|
| | | | (92,035) | | | | | | (39,785) | | |
Total stockholders’ equity/members’ deficit
|
| | | | 409,243 | | | | | | (35,392) | | |
Total liabilities, preferred units and stockholders’ equity/members’ deficit
|
| | | $ | 426,421 | | | | | $ | 152,055 | | |
|
| | |
THREE MONTHS ENDED SEPTEMBER 30,
|
| |
NINE MONTHS
ENDED SEPTEMBER 30, 2023 |
| |
PERIOD FROM
FEBRUARY 4, 2022 (INCEPTION) TO SEPTEMBER 30, 2022 |
| |||||||||||||||
| | |
2023
|
| |
2022
|
| ||||||||||||||||||
Operating expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Research and development(1)
|
| | | $ | 17,069 | | | | | $ | 9,885 | | | | | $ | 39,470 | | | | | $ | 15,578 | | |
General and administrative(2)
|
| | | | 7,236 | | | | | | 622 | | | | | | 16,378 | | | | | | 1,050 | | |
Total operating expenses
|
| | | | 24,305 | | | | | | 10,507 | | | | | | 55,848 | | | | | | 16,628 | | |
Loss from operations
|
| | | | (24,305) | | | | | | (10,507) | | | | | | (55,848) | | | | | | (16,628) | | |
Other income (expense), net: | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest income
|
| | | | 3,465 | | | | | | — | | | | | | 3,598 | | | | | | — | | |
Other financing expense
|
| | | | — | | | | | | (9,150) | | | | | | — | | | | | | (9,150) | | |
Total other income (expense),
net |
| | | | 3,465 | | | | | | (9,150) | | | | | | 3,598 | | | | | | (9,150) | | |
Net loss
|
| | | $ | (20,840) | | | | | $ | (19,657) | | | | | $ | (52,250) | | | | | $ | (25,778) | | |
Net loss per share, basic and
diluted |
| | | $ | (0.51) | | | | | $ | (9.46) | | | | | $ | (3.04) | | | | | $ | (17.00) | | |
Weighted-average common shares outstanding, basic and diluted
|
| | | | 41,231,379 | | | | | | 2,078,804 | | | | | | 17,209,842 | | | | | | 1,516,736 | | |
|
| | |
THREE MONTHS ENDED SEPTEMBER 30,
|
| |
NINE MONTHS
ENDED SEPTEMBER 30, 2023 |
| |
PERIOD FROM
FEBRUARY 4, 2022 (INCEPTION) TO SEPTEMBER 30, 2022 |
| |||||||||||||||
| | |
2023
|
| |
2022
|
| ||||||||||||||||||
Net loss
|
| | | $ | (20,840) | | | | | $ | (19,657) | | | | | $ | (52,250) | | | | | $ | (25,778) | | |
Change in unrealized gains on marketable securities, net of tax
|
| | | | 135 | | | | | | — | | | | | | 135 | | | | | | — | | |
Comprehensive loss
|
| | | $ | (20,705) | | | | | $ | (19,657) | | | | | $ | (52,115) | | | | | $ | (25,778) | | |
|
| | |
SERIES A PREFERRED
UNITS |
| |
SERIES B PREFERRED
UNITS |
| | |
COMMON UNITS
|
| |
INCENTIVE UNITS
|
| |
COMMON STOCK
|
| |
ADDITIONAL
PAID-IN CAPITAL AMOUNT |
| |
ACCUMULATED
DEFICIT AMOUNT |
| |
ACCUMULATED
OTHER COMPREHENSIVE INCOME AMOUNT |
| |
TOTAL
MEMBERS’ DEFICIT AMOUNT |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
UNITS
|
| |
AMOUNT
|
| |
UNITS
|
| |
AMOUNT
|
| | |
UNITS
|
| |
AMOUNT
|
| |
UNITS
|
| |
AMOUNT
|
| |
UNITS
|
| |
AMOUNT
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2022
|
| | | | 20,000,000 | | | | | $ | 28,971 | | | | | | 45,089,212 | | | | | $ | 148,496 | | | | | | | 5,000,000 | | | | | $ | 2,251 | | | | | | 1,625,086 | | | | | $ | 2,142 | | | | | | — | | | | | $ | — | | | | | $ | — | | | | | $ | (39,785) | | | | | $ | — | | | | | $ | (35,392) | | |
Equity-based compensation
expense |
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,274 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,274 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (12,525) | | | | | | — | | | | | | (12,525) | | |
Balance at March 31, 2023
|
| | | | 20,000,000 | | | | | $ | 28,971 | | | | | | 45,089,212 | | | | | $ | 148,496 | | | | | | | 5,000,000 | | | | | $ | 2,251 | | | | | | 1,625,086 | | | | | $ | 3,416 | | | | | | — | | | | | $ | — | | | | | $ | — | | | | | $ | (52,310) | | | | | $ | — | | | | | $ | (46,643) | | |
Vesting of incentive units
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | 856,457 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Equity-based compensation
expense |
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,113 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,113 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (18,885) | | | | | | — | | | | | | (18,885) | | |
Balance at June 30, 2023
|
| | | | 20,000,000 | | | | | $ | 28,971 | | | | | | 45,089,212 | | | | | $ | 148,496 | | | | | | | 5,000,000 | | | | | $ | 2,251 | | | | | | 2,481,543 | | | | | $ | 4,529 | | | | | | — | | | | | $ | — | | | | | $ | — | | | | | $ | (71,195) | | | | | $ | — | | | | | $ | (64,415) | | |
Vesting of incentive units
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | 65,881 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Exchange of preferred, common, and incentive units into common
stock |
| | | | (20,000,000) | | | | | | (28,971) | | | | | | (45,089,212) | | | | | | (148,496) | | | | | | | (5,000,000) | | | | | | (2,251) | | | | | | (2,547,424) | | | | | | (4,686) | | | | | | 27,597,438 | | | | | | — | | | | | | 184,404 | | | | | | — | | | | | | — | | | | | | 177,467 | | |
Common stock issued in IPO, net of issuance costs of $29,666
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 20,297,500 | | | | | | — | | | | | | 315,391 | | | | | | — | | | | | | — | | | | | | 315,391 | | |
Vesting of restricted common stock
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 122,683 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Share-based compensation expense
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | 157 | | | | | | — | | | | | | — | | | | | | 1,348 | | | | | | — | | | | | | — | | | | | | 1,505 | | |
Change in unrealized gain on marketable securities, net of tax
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 135 | | | | | | 135 | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (20,840) | | | | | | — | | | | | | (20,840) | | |
Balance at September 30, 2023
|
| | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | 48,017,621 | | | | | $ | — | | | | | $ | 501,143 | | | | | $ | (92,035) | | | | | $ | 135 | | | | | $ | 409,243 | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
SERIES A PREFERRED
UNITS |
| |
SERIES B PREFERRED
UNITS |
| | |
COMMON UNITS
|
| |
INCENTIVE UNITS
|
| |
COMMON STOCK
|
| |
ADDITIONAL
PAID-IN CAPITAL AMOUNT |
| |
ACCUMULATED
DEFICIT AMOUNT |
| |
ACCUMULATED
OTHER COMPREHENSIVE INCOME AMOUNT |
| |
TOTAL
MEMBERS’ DEFICIT AMOUNT |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | |
UNITS
|
| |
AMOUNT
|
| |
UNITS
|
| |
AMOUNT
|
| | |
UNITS
|
| |
AMOUNT
|
| |
UNITS
|
| |
AMOUNT
|
| |
UNITS
|
| |
AMOUNT
|
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at February 4, 2022
(inception) |
| | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Issuance of Common Units – initial closing
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | 1,250,000 | | | | | | 1,688 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 1,688 | | |
Issuance of Series A Preferred Units –
initial closing, net of tranche rights of $1,050 and issuance costs of $179 |
| | | | 5,000,000 | | | | | | 3,771 | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (4,305) | | | | | | — | | | | | | (4,305) | | |
Balance at March 31, 2022
|
| | | | 5,000,000 | | | | | | 3,771 | | | | | | — | | | | | | — | | | | | | | 1,250,000 | | | | | | 1,688 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (4,305) | | | | | | — | | | | | | (2,617) | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (1,816) | | | | | | — | | | | | | (1,816) | | |
Balance at June 30, 2022
|
| | | | 5,000,000 | | | | | $ | 3,771 | | | | | | — | | | | | $ | — | | | | | | | 1,250,000 | | | | | $ | 1,688 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | $ | — | | | | | $ | (6,121) | | | | | $ | — | | | | |
$
|
(4,433)
|
| |
Issuance of Common Units – 2nd closing
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | 1,250,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Issuance of Series A preferred units – subsequent closings
|
| | | | 5,000,000 | | | | | | 5,000 | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Reclassification of tranche rights upon
issuance of preferred units |
| | | | — | | | | | | (600) | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Net loss
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (19,657) | | | | | | — | | | | | | (19,657) | | |
Balance at September 30, 2022
|
| | | | 10,000,000 | | | | | $ | 8,171 | | | | | | — | | | | | $ | — | | | | | | | 2,500,000 | | | | | $ | 1,688 | | | | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | | | | $ | — | | | | | $ | (25,778) | | | | | $ | — | | | | | $ | (24,090) | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | |
NINE MONTHS
ENDED SEPTEMBER 30, 2023 |
| |
PERIOD FROM
FEBRUARY 4, 2022 (INCEPTION) TO SEPTEMBER 30, 2022 |
| ||||||
Cash flows from operating activities: | | | | | | | | | | | | | |
Net loss
|
| | | $ | (52,250) | | | | | $ | (25,778) | | |
Adjustments to reconcile net loss to net cash used in operating activities:
|
| | | | | | | | | | | | |
Equity-based compensation expense
|
| | | | 3,892 | | | | | | — | | |
Loss on remeasurement of tranche option liability
|
| | | | — | | | | | | 9,150 | | |
Non-cash research and development license expense
|
| | | | — | | | | | | 1,688 | | |
Amortization of discounts on marketable securities
|
| | | | (232) | | | | | | — | | |
Changes in operating assets and liabilities: | | | | | | | | | | | | | |
Prepaid expenses and other current assets
|
| | | | (3,402) | | | | | | — | | |
Accounts payable
|
| | | | 577 | | | | | | 36 | | |
Accrued expenses
|
| | | | 6,408 | | | | | | 7,666 | | |
Net cash used in operating activities
|
| | | | (45,007) | | | | | | (7,238) | | |
Cash flows from investing activities: | | | | | | | | | | | | | |
Purchase of marketable securities
|
| | | | (234,218) | | | | | | — | | |
Net cash used in investing activities
|
| | | | (234,218) | | | | | | — | | |
Cash flows from financing activities: | | | | | | | | | | | | | |
Proceeds from issuance of Series A Preferred Units and the tranche option, net
|
| | | | — | | | | | | 9,821 | | |
Proceeds from issuance of common stock, net of issuance costs
|
| | | | 315,604 | | | | | | — | | |
Net cash provided by financing activities
|
| | | | 315,604 | | | | | | 9,821 | | |
Increase in cash and cash equivalents
|
| | | | 36,379 | | | | | | 2,583 | | |
Cash and cash equivalents, beginning of period
|
| | | | 151,890 | | | | | | — | | |
Cash and cash equivalents, end of period
|
| | | $ | 188,269 | | | | | $ | 2,583 | | |
Supplemental disclosures of non-cash activities: | | | | | | | | | | | | | |
Exchange of 72,570,755 preferred, common, and incentive units in connection with the Reorganization (Note 1)
|
| | | $ | 184,404 | | | | | $ | — | | |
Settlement of Series A Preferred Units tranche obligation
|
| | | $ | — | | | | | $ | 600 | | |
Deferred financing issuance costs in accounts payable
|
| | | $ | 213 | | | | | $ | — | | |
| | | | | | | | |
AS OF SEPTEMBER 30, 2023
UNREALIZED |
| | | | | | | |||||||||
| | |
AMORTIZED COST
|
| |
GAINS
|
| |
LOSSES
|
| |
FAIR VALUE
|
| ||||||||||||
Cash equivalents: | | | | | | | | | | | | | | | | | | | | | | | | | |
U.S. treasury securities
|
| | | $ | 59,685 | | | | | $ | 8 | | | | | $ | — | | | | | $ | 59,693 | | |
Marketable securities | | | | | | | | | | | | | | | | | | | | | | | | | |
U.S. treasury securities
|
| | | | 117,635 | | | | | | 6 | | | | | | (13) | | | | | | 117,628 | | |
Debt securities issued by U.S. government agencies
|
| | | | 116,823 | | | | | | 148 | | | | | | (14) | | | | | | 116,957 | | |
| | | | $ | 294,143 | | | | | $ | 162 | | | | | $ | (27) | | | | | $ | 294,278 | | |
|
| | |
AS OF SEPTEMBER 30, 2023
|
| |||||||||||||||||||||
| | |
LEVEL 1
|
| |
LEVEL 2
|
| |
LEVEL 3
|
| |
TOTAL
|
| ||||||||||||
Assets: | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash equivalents: | | | | | | | | | | | | | | | | | | | | | | | | | |
Money market funds
|
| | | $ | 103,776 | | | | | $ | — | | | | | $ | — | | | | | $ | 103,776 | | |
U.S. treasury securities
|
| | | | 59,693 | | | | | | — | | | | | | — | | | | | | 59,693 | | |
Marketable securities: | | | | | | | | | | | | | | | | | | | | | | | | | |
U.S. treasury securities
|
| | | | 117,628 | | | | | | — | | | | | | — | | | | | | 117,628 | | |
Debt securities issued by U.S. government agencies
|
| | | | — | | | | | | 116,957 | | | | | | — | | | | | | 116,957 | | |
| | | | $ | 281,097 | | | | | $ | 116,957 | | | | | $ | — | | | | | $ | 398,054 | | |
|
| | |
PREFERRED UNIT
TRANCHE OPTION ASSET |
| |
PREFERRED UNIT
TRANCHE OPTION (LIABILITY) |
| |
PREFERRED UNIT
TRANCHE OPTION, NET |
| |||||||||
Balance as of February 4, 2022 (inception)
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | |
Issuance
|
| | | | 650 | | | | | | (1,700) | | | | | | (1,050) | | |
Change in fair value
|
| | | | (50) | | | | | | (9,100) | | | | | | (9,150) | | |
Transfer to temporary equity upon settlement
|
| | | | (600) | | | | | | — | | | | | | (600) | | |
Balance as of September 30, 2022
|
| | | $ | — | | | | | $ | (10,800) | | | | | $ | (10,800) | | |
|
| | |
SEPTEMBER 30,
2023 |
| |
DECEMBER 31,
2022 |
| ||||||
Prepaid expenses
|
| | | $ | 2,156 | | | | | $ | 108 | | |
Other current assets
|
| | | | 1,411 | | | | | | 57 | | |
Total
|
| | | $ | 3,567 | | | | | $ | 165 | | |
|
| | |
SEPTEMBER 30,
2023 |
| |
DECEMBER 31,
2022 |
| ||||||
Accrued external research and development expenses
|
| | | $ | 13,057 | | | | | $ | 8,847 | | |
Accrued other
|
| | | | 692 | | | | | | 200 | | |
Accrued employee compensation
|
| | | | 2,221 | | | | | | 515 | | |
Total
|
| | | $ | 15,970 | | | | | $ | 9,562 | | |
|
| | |
PREFERRED
UNITS AUTHORIZED |
| |
PREFERRED
UNITS ISSUED AND OUTSTANDING |
| |
CARRYING
VALUE |
| |
LIQUIDATION
PREFERENCE |
| ||||||||||||
Series A Preferred Units
|
| | | | 20,000,000 | | | | | | 20,000,000 | | | | | $ | 28,971 | | | | | $ | 20,000 | | |
Series B Preferred Units
|
| | | | 45,089,212 | | | | | | 45,089,212 | | | | | | 148,496 | | | | | | 149,000 | | |
Total
|
| | | | 65,089,212 | | | | | | 65,089,212 | | | | | $ | 177,467 | | | | | $ | 169,000 | | |
|
| | |
NINE MONTHS
ENDED SEPTEMBER 30, 2023 |
|
Risk free interest rate
|
| |
4.1% – 4.9%
|
|
Expected dividend yield
|
| |
0.0%
|
|
Expected term (in years)
|
| |
0.17 – 2
|
|
Expected volatility
|
| |
84% – 90%
|
|
| | |
NUMBER OF
UNITS |
| |
WEIGHTED-
AVERAGE GRANT DATE FAIR VALUE PER UNIT |
| ||||||
Unvested incentive units as of December 31, 2022
|
| | | | 8,023,288 | | | | | $ | 1.20 | | |
Granted
|
| | | | 4,621,901 | | | | | $ | 1.32 | | |
Vested
|
| | | | (922,338) | | | | | $ | 1.54 | | |
Exchanged for unvested restricted common stock
|
| | | | (11,722,851) | | | | | $ | 1.22 | | |
Unvested incentive units as of September 30, 2023
|
| | | | — | | | | | $ | — | | |
|
| | |
NUMBER OF
SHARES |
| |
WEIGHTED-
AVERAGE GRANT DATE FAIR VALUE PER SHARE |
| ||||||
Unvested restricted common stock as of December 31, 2022
|
| | | | — | | | | | $ | — | | |
Exchange of incentive units
|
| | | | 2,779,358 | | | | | $ | 5.16 | | |
Vested
|
| | | | (122,683) | | | | | $ | 3.78 | | |
Unvested restricted common stock as of September 30, 2023
|
| | | | 2,656,675 | | | | | $ | 5.22 | | |
|
| | |
THREE MONTHS
ENDED SEPTEMBER 30, 2023 |
|
Common stock fair value
|
| |
$17.00 – $23.60
|
|
Risk free interest rate
|
| |
1.8% – 2.1%
|
|
Expected dividend yield
|
| |
0.0%
|
|
Expected term (in years)
|
| |
5.75 – 6.25
|
|
Expected volatility
|
| |
96.8% – 99.9%
|
|
| | |
OPTIONS
|
| |
WEIGHTED-
AVERAGE EXERCISE PRICE |
| |
WEIGHTED-
AVERAGE REMAINING CONTRACTUAL TERM |
| |
AGGREGATE
INTRINSIC VALUE (IN THOUSANDS) |
| ||||||||||||
Outstanding as of December 31, 2022
|
| | | | — | | | | | $ | — | | | | | | — | | | | | $ | — | | |
Granted
|
| | | | 637,546 | | | | | $ | 20.28 | | | | | | 9.84 | | | | | $ | — | | |
Outstanding as of September 30, 2023
|
| | | | 637,546 | | | | | $ | 20.28 | | | | | | 9.84 | | | | | $ | 1,317 | | |
Vested and expected to vest as of September 30,
2023 |
| | | | 637,546 | | | | | $ | 20.28 | | | | | | 9.84 | | | | | $ | 1,317 | | |
Exerciseable as of September 30, 2023
|
| | | | 1,389 | | | | | $ | 23.60 | | | | | | 9.89 | | | | | $ | — | | |
| | |
THREE MONTHS
ENDED SEPTEMBER 30, 2023 |
| |
NINE MONTHS
ENDED SEPTEMBER 30, 2023 |
| |
FEBRUARY 4, 2022
(INCEPTION) to SEPTEMBER 30, 2022 |
| |||||||||
Research and development expense
|
| | | $ | 417 | | | | | $ | 755 | | | | | $ | — | | |
General and administrative expense
|
| | | | 1,088 | | | | | | 3,137 | | | | | | — | | |
Total
|
| | | $ | 1,505 | | | | | $ | 3,892 | | | | | $ | — | | |
|
| | |
THREE MONTHS ENDED
SEPTEMBER 30, |
| |
NINE MONTHS
ENDED SEPTEMBER 30, 2023 |
| |
PERIOD FROM
FEBRUARY 4 (INCEPTION) TO SEPTEMBER 30, 2022 |
| |||||||||||||||
| | |
2023
|
| |
2022
|
| ||||||||||||||||||
Numerator: | | | | | | | | | | | | | | | | | | | | | | | | | |
Net loss
|
| | | $ | (20,840) | | | | | $ | (19,657) | | | | | $ | (52,250) | | | | | $ | (25,778) | | |
Net loss attributable to common stockholders, basic and diluted
|
| | | $ | (20,840) | | | | | $ | (19,657) | | | | | $ | (52,250) | | | | | $ | (25,778) | | |
Denominator: | | | | | | | | | | | | | | | | | | | | | | | | | |
Weighted average shares of common stock
outstanding, basic and diluted |
| | | | 41,231,379 | | | | | | 2,078,804 | | | | | | 17,209,842 | | | | | | 1,516,736 | | |
Net loss per share attributable to common stockholders, basic and diluted
|
| | | $ | (0.51) | | | | | $ | (9.46) | | | | | $ | (3.04) | | | | | $ | (17.00) | | |
|
| | |
THREE MONTHS ENDED
SEPTEMBER 30, |
| |
NINE MONTHS
ENDED SEPTEMBER 30, 2023 |
| |
PERIOD FROM
FEBRUARY 4 (INCEPTION) TO SEPTEMBER 30, 2022 |
| |||||||||||||||
| | |
2023
|
| |
2022
|
| ||||||||||||||||||
Series A Preferred Units
|
| | | | — | | | | | | 10,000,000 | | | | | | — | | | | | | 10,000,000 | | |
Stock options
|
| | | | 637,546 | | | | | | — | | | | | | 637,546 | | | | | | — | | |
Unvested restricted common stock
|
| | | | 2,656,675 | | | | | | — | | | | | | 2,656,675 | | | | | | — | | |
Total
|
| | | | 3,294,221 | | | | | | 10,000,000 | | | | | | 3,294,221 | | | | | | 10,000,000 | | |
|
| | |
Amount
Paid or to be Paid |
| |||
Securities and Exchange Commission registration fee
|
| | | $ | * | | |
FINRA filing fee
|
| | | | * | | |
Printing and engraving expenses
|
| | | | * | | |
Legal fees and expenses
|
| | | | * | | |
Accounting fees and expenses
|
| | | | * | | |
Transfer agent and registrar fees
|
| | | | * | | |
Miscellaneous fees and expenses
|
| | | | * | | |
Total
|
| | | $ | * | | |
|
|
EXHIBIT
NUMBER |
| |
DESCRIPTION OF EXHIBIT
|
|
| 1.1* | | | Form of Underwriting Agreement. | |
| 2.1 | | | Contribution and Exchange Agreement, effective July 13, 2023, by and among the Company and the Unit Holders named therein (filed with the SEC as Exhibit 2.1 to the Company’s Form 10-Q filed on August 28, 2023). | |
| 3.1 | | | Amended and Restated Certificate of Incorporation of the Registrant (filed with the SEC as Exhibit 3.1 to the Company’s Form 10-Q filed on August 28, 2023). | |
| 3.2 | | | Amended and Restated Bylaws of the Registrant (filed with the SEC as Exhibit 3.2 to the Company’s Form 10-Q filed on August 28, 2023). | |
| 4.1 | | | Form of Common Stock Certificate of the Registrant (filed with the SEC as Exhibit 4.1 to the Company’s Form S-1/A filed on July 3, 2023). | |
|
EXHIBIT
NUMBER |
| |
DESCRIPTION OF EXHIBIT
|
|
| 4.2 | | | Registration Rights Agreement, dated July 13, 2023, by and among the Company and the Investors named therein (filed with the SEC as Exhibit 4.2 to the Company’s Form 10-Q filed on August 28, 2023). | |
| 5.1* | | | Opinion of Gibson, Dunn & Crutcher LLP. | |
| 10.1+ | | | Form of Indemnification Agreement for directors and executive officers (filed with the SEC as Exhibit 10.1 to the Company’s Form S-1/A filed on July 3, 2023). | |
| 10.2+ | | | Employment Agreement, dated August 25, 2023, by and between Apogee Therapeutics, Inc. and Michael Henderson, M.D. (filed with the SEC as Exhibit 10.2 to the Company’s Form 10-Q filed on August 28, 2023). | |
| 10.3+ | | | Employment Agreement, dated August 25, 2023, by and between Apogee Therapeutics, Inc. and Jane Pritchett Henderson (filed with the SEC as Exhibit 10.3 to the Company’s Form 10-Q filed on August 28, 2023). | |
| 10.4+ | | | Employment Agreement, dated August 25, 2023, by and between Apogee Therapeutics, Inc. and Carl Dambkowski, M.D. (filed with the SEC as Exhibit 10.4 to the Company’s Form 10-Q filed on August 28, 2023). | |
| 10.5# | | | Antibody Discovery and Option agreement, dated February 24, 2022, by and between Paragon Therapeutics, Inc. and Apogee Biologics, Inc. (f/k/a Apogee Therapeutics, Inc.) (filed with the SEC as Exhibit 10.5 to the Company’s Form S-1 filed on June 22, 2023). | |
| 10.6 | | | Amendment No. 1 to Antibody Discovery and Option agreement, dated November 10, 2022, by and between Paragon Therapeutics, Inc. and Apogee Biologics, Inc. (f/k/a Apogee Therapeutics, Inc.) (filed with the SEC as Exhibit 10.6 to the Company’s Form S-1 filed on June 22, 2023). | |
| 10.7# | | | IL-13 License Agreement, dated November 4, 2022, by and between Paragon Therapeutics, Inc. and Apogee Biologics, Inc. (f/k/a Apogee Therapeutics, Inc.) (filed with the SEC as Exhibit 10.7 to the Company’s Form S-1 filed on June 22, 2023). | |
| 10.8 | | | Amendment No. 1 to IL-13 License Agreement, dated November 10, 2022, by and between Paragon Therapeutics, Inc. and Apogee Biologics, Inc. (f/k/a Apogee Therapeutics, Inc.) (filed with the SEC as Exhibit 10.8 to the Company’s Form S-1 filed on June 22, 2023). | |
| 10.9# | | | IL-4Rα License Agreement, dated April 3, 2023, by and between Paragon Therapeutics, Inc. and Apogee Biologics, Inc. (f/k/a Apogee Therapeutics, Inc.) (filed with the SEC as Exhibit 10.9 to the Company’s Form S-1 filed on June 22, 2023). | |
| 10.10# | | | OX40L License Agreement, dated April 28, 2023, by and between Paragon Therapeutics, Inc. and Apogee Biologics, Inc. (f/k/a Apogee Therapeutics, Inc.) (filed with the SEC as Exhibit 10.10 to the Company’s Form S-1 filed on June 22, 2023). | |
| 10.11# | | | Biologics Master Services Agreement, dated June 20, 2022 by and between Paragon Therapeutics, Inc. and WuXi Biologics (Hong Kong) Limited (filed with the SEC as Exhibit 10.11 to the Company’s Form S-1 filed on June 22, 2023). | |
| 10.12# | | | Cell Line License Agreement, effective as of June 20, 2022, by and between Paragon Therapeutics, Inc. and WuXi Biologics (Hong Kong) Limited (filed with the SEC as Exhibit 10.12 to the Company’s Form S-1 filed on June 22, 2023). | |
| 10.13 | | | Novation Agreement, dated April 1, 2023, by and between Paragon Therapeutics, Inc., Apogee Biologics, Inc. (f/k/a Apogee Therapeutics, Inc.) and WuXi Biologics (Hong Kong) Limited (filed with the SEC as Exhibit 10.13 to the Company’s Form S-1 filed on June 22, 2023). | |
| 10.14 | | | Antibody Discovery and Option Agreement, dated November 9, 2023, by and between Paragon Therapeutics, Inc. and Apogee Therapeutics, Inc. (filed with the SEC as Exhibit 10.7 to the Company’s Form 10-Q filed on November 30, 2023). | |
| 10.15+ | | | 2023 Equity Incentive Plan (filed with the SEC as Exhibit 10.9 to the Company’s Form 10-Q filed on August 28, 2023). | |
|
EXHIBIT
NUMBER |
| |
DESCRIPTION OF EXHIBIT
|
|
| 10.16+ | | | 2023 Employee Stock Purchase Plan (filed with the SEC as Exhibit 10.15 to the Company’s Form S-1/A filed on July 10, 2023). | |
| 21.1 | | | Subsidiaries of the Registrant (filed with the SEC as Exhibit 21.1 to the Company’s Form S-1 filed on June 22, 2023). | |
| 23.1* | | | Consent of Independent Registered Public Accounting Firm. | |
| 23.2* | | | Consent of Gibson, Dunn & Crutcher LLP (see Exhibit 5.1). | |
| 24.1* | | | Power of Attorney. | |
| 107* | | | Filing Fee Table. | |
|
Signature
|
| |
Title
|
| |
Date
|
|
|
Michael Henderson, M.D.
|
| | Director and Chief Executive Officer (principal executive officer) |
| |
, 2024
|
|
|
Jane Pritchett Henderson
|
| | Chief Financial Officer (principal financial and accounting officer) |
| |
, 2024
|
|
|
Mark C. McKenna
|
| | Chair and Director | | |
, 2024
|
|
|
Peter Harwin
|
| | Director | | |
, 2024
|
|
|
Jennifer Fox
|
| | Director | | |
, 2024
|
|
|
Andrew Gottesdiener, M.D.
|
| | Director | | |
, 2024
|
|
|
Signature
|
| |
Title
|
| |
Date
|
|
|
Tomas Kiselak
|
| | Director | | |
, 2024
|
|
|
William Jones, Jr.
|
| | Director | | |
, 2024
|
|
|
Nimish Shah
|
| | Director | | |
, 2024
|
|