▸ Emerging issues related to the development and use of artificial intelligence could give rise to legal or regulatory action, damage our reputation, or otherwise materially harm our business.· ● 1 ▸ Our charter limits our ability to issue shares.· ● 1 ▸ If any of our product candidates are approved, but do not achieve an adequate level of acceptance by physicians, health care payors, and patients, we may not generate sufficient revenue and we may not be able to● · 1 ▸ Our success depends in part on avoiding infringement of the proprietary technologies of others. The pharmaceutical industry has been characterized by frequent litigation regarding patent and other intellectual property● · 1 ▸ A potential failure to maintain effective internal control over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act could have a material adverse effect on our business, financial condition, and results of operations.● ● 2 ▸ Because of the breadth of these laws and the narrowness of the statutory exceptions and safe harbors available, it is possible that some of our future business activities could be subject to challenge under one or more of such laws.● ● 2 ▸ Changes in accounting standards and subjective assumptions, estimates and judgments by management related to complex accounting matters may materially impact reporting of our financial condition and results of operations.● ● 2 ▸ Current and future legislation may increase the difficulty and cost for us to obtain marketing approval of and commercialize our product candidates and affect the prices we may obtain.● ● 2 ▸ Even if we receive regulatory approval for any of our product candidates, we may not be able to successfully commercialize the product and the revenue that we generate from its sales, if any, may be limited.● ● 2 ▸ Even though we may apply for orphan drug designation for a product candidate, we may not be able to obtain orphan drug marketing exclusivity.● ● 2 ▸ Future capital raises may dilute your ownership and/or have other adverse effects on our operations.● ● 2 ▸ If equity research analysts do not publish research or reports about our business or if they issue unfavorable commentary or downgrade our shares, the price of our shares could decline.● ● 2 ▸ If product liability lawsuits are brought against us, we may incur substantial liabilities and may be required to limit commercialization of our product candidates.● ● 2 ▸ It is difficult and costly to protect our intellectual property rights, and we cannot ensure the protection of these rights.● ● 2 ▸ Obtaining and maintaining regulatory approval of our product candidates in one jurisdiction does not mean that we will be successful in obtaining regulatory approval of our product candidates in other jurisdictions.● ● 2 ▸ Our charter documents and Delaware law may inhibit a takeover that stockholders consider favorable.● ● 2 ▸ Our clinical trials may fail to demonstrate substantial evidence of the safety and efficacy of our product candidates or any future product candidates, which would prevent or delay or limit the scope of regulatory approval and commercialization.● ● 2 ▸ Our failure to meet the continued listing requirements of the NYSE American could result in a delisting of our common stock.● ● 2 ▸ Our internal computer systems, or those of our collaborators or other contractors or consultants, may fail or suffer security breaches, which could result in a material disruption of our product development programs.● ● 2 ▸ Our product candidates may infringe the intellectual property rights of others, which could increase our costs and delay or prevent our development and commercialization efforts.● ● 2 ▸ Our status as an “emerging growth company” under the JOBS Act may make it more difficult to raise capital as and when we need it.● ● 2 ▸ Results of preclinical studies of our product candidates may not be predictive of the results of future preclinical studies or clinical trials.● ● 2 ▸ group Risks Related to Owning Our Common Stock● ● 2 ▸ group Risks Related to Product Regulation● ● 2 ▸ group Risks Relating to Our Business● ● 2 ▸ group Risks Relating to Our Intellectual Property Rights● ● 2 ▸ Shares eligible for future sale may adversely affect the market for our common stock.● ● 2 ▸ The clinical and commercial utility of our microbial library and genetic engineering platform is uncertain and may never be realized.● ● 2 ▸ The limited amount of public company experience of our management team could adversely impact our ability to comply with the reporting requirements of U.S. securities laws, which could have a materially adverse effect on our business.● ● 2 ▸ Third-party coverage and reimbursement and health care cost containment initiatives and treatment guidelines may constrain our future revenues.● ● 2 ▸ Unfavorable geopolitical and macroeconomic developments could adversely affect our business, financial condition or results of operations.● ● 2 ▸ We are an early-stage clinical biopharmaceutical company with limited operating history.● ● 2 ▸ We are an “emerging growth company” under the JOBS Act and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our common stock less attractive to investors.● ● 2 ▸ We expect we will need additional financing to execute our business plan and fund operations, which additional financing may not be available on reasonable terms or at all.● ● 2 ▸ We face significant competition from other biotechnology and pharmaceutical companies targeting medical dermatological indications, and our operating results will suffer if we fail to compete effectively.● ● 2 ▸ We have a history of significant operating losses and anticipate continued operating losses for the foreseeable future.● ● 2 ▸ We have and will continue to incur significant increased costs as a result of being a public company that reports to the SEC and our management will be required to devote substantial time to meet compliance obligations.● ● 2 ▸ We have not paid dividends on our common stock in the past and have no immediate plans to pay such dividends.● ● 2 ▸ We may be at an increased risk of securities class action litigation.● ● 2 ▸ We may be subject to claims that we have wrongfully hired an employee from a competitor or that we or our employees have wrongfully used or disclosed alleged confidential information or trade secrets of their former employers.● ● 2 ▸ We will need to grow the size of our organization, and we may experience difficulties in managing this growth.● ● 2 
