▸ Our use of generative artificial intelligence tools in our operations may expose us to risks related to confidentiality, accuracy, regulatory compliance and intellectual property ownership or rights.· · · · ● 1 ▸ To the extent that we do not generate sufficient cash from operations, we may need to issue stock or incur indebtedness to finance our plans for growth. Recent turmoil in the credit markets and the potential impact on the liquidity of major financial· · · · ● 1 ▸ Changes in U.S. and international trade policies may adversely impact our business and operating results.· · · ● ● 2 ▸ A cybersecurity incident could negatively impact our business and our relationships with our employees, service providers, patients, clinical study sites and government agencies.· · ● ● ● 3 ▸ Our losses from operations, negative cash flows, and shareholders' deficit as of December 31, 2025 raise substantial doubt about our ability to continue as a going concern absent obtaining adequate new debt or equity financings.· · ● ● ● 3 rw ▸ Adverse developments affecting financial institutions such as actual events or concerns involving liquidity, defaults or non-performance, could adversely affect our operations and liquidity.· ● ● ● ● 4 ▸ Our Board of Directors can, without stockholder approval, cause preferred stock to be issued on terms that adversely affect holders of our common stock.· ● ● ● ● 4 ▸ The report of our independent registered accounting firm on our audited financial statements for the fiscal year ended December 31, 2025 contains an explanatory paragraph relating to our ability to continue as a going concern.· ● ● ● ● 4 rw ▸ Our common stock is deemed to be a “penny stock,” which may make it more difficult for investors to sell their shares due to suitability requirements.· · ● · · 1 ▸ The State of New Jersey’s Technology Business Tax Certificate Program allows certain high technology and biotechnology companies to sell unused net operating loss (“NOL”) carryforwards to other New Jersey-based corporate taxpayers. We· · ● · · 1 ▸ As of the close of the market on February 24, 2023, we satisfied the first condition – compliance with the Minimum Bid Price Requirement for a minimum of ten consecutive trading sessions.· ● · · · 1 ▸ Repayment of certain convertible notes, if they are not otherwise converted, will require a significant amount of cash, and we may not have sufficient cash flow from our business to make payments on our indebtedness.● ● ● · · 3 ▸ The issuance of shares of common stock upon conversion of the Convertible Notes could substantially dilute shareholders’ investments and could impede our ability to obtain additional financing.● ● ● · · 3 ▸ The terms of our loan and security agreement with Pontifax Medison Finance require, and any future debt financing may require, us to meet certain operating covenants and place restrictions on our operating and financial flexibility.● ● ● · · 3 ▸ The warrants may not have any value.● · · · · 1 ▸ Shareholders may suffer substantial dilution related to issued common stock warrants, and options.● · ● · ● 3 rw ▸ Competition and technological change may make our product candidates and technologies less attractive or obsolete.● ● ● ● ● 5 ▸ Even if approved, our products will be subject to extensive post-approval regulation.● ● ● ● ● 5 ▸ Even if we obtain regulatory approval to market our product candidates, our product candidates may not be accepted by the market.● ● ● ● ● 5 ▸ Federal and/or state health care reform initiatives could negatively affect our business.● ● ● ● ● 5 ▸ If we are unable to develop our product candidates, our ability to generate revenues and viability as a company will be significantly impaired.● ● ● ● ● 5 ▸ If we fail to obtain or maintain orphan drug exclusivity for our product candidates, our competitors may sell products to treat the same conditions and our revenue will be reduced.● ● ● ● ● 5 ▸ If we infringe the rights of third parties we could be prevented from selling products, forced to pay damages, and defend against litigation.● ● ● ● ● 5 ▸ Instability and volatility in the financial markets could have a negative impact on our business, financial condition, results of operations, and cash flows.● ● ● ● ● 5 ▸ Our business could be harmed if we fail to retain our current personnel or if they are unable to effectively run our business.● ● ● ● ● 5 ▸ Our business is subject to extensive governmental regulation, which can be costly, time consuming and subjects us to unanticipated delays.● ● ● ● ● 5 ▸ Our products, if approved, may not be commercially viable due to change in health care practice and third-party reimbursement limitations.● ● ● ● ● 5 rw ▸ Our shares of common stock are thinly traded, so stockholders may be unable to sell at or near ask prices or at all if they need to sell shares to raise money or otherwise desire to liquidate their shares.● ● ● ● ● 5 rw ▸ group Risks Related to our Business● ● ● ● ● 5 ▸ group Risks Related to our Intellectual Property● ● ● ● ● 5 ▸ group Risks Related to our Securities● ● ● ● ● 5 ▸ The manufacturing of our products is a highly exacting process, and if we or one of our materials suppliers encounter problems manufacturing our products, our business could suffer.● ● ● ● ● 5 ▸ The price of our common stock may be highly volatile.● ● ● ● ● 5 ▸ There may be unforeseen challenges in developing our biodefense products.● ● ● ● ● 5 ▸ Upon our dissolution, our stockholders may not recoup all or any portion of their investment.● ● ● ● ● 5 ▸ We are dependent on government funding, which is inherently uncertain, for the success of our biodefense operations.● ● ● ● ● 5 ▸ We do not currently intend to pay dividends on our common stock in the foreseeable future, and consequently, our stockholders’ ability to achieve a return on their investment will depend on appreciation in the price of our common stock.● ● ● ● ● 5 ▸ We do not have extensive sales and marketing experience and our lack of experience may restrict our success in commercializing some of our product candidates.● ● ● ● ● 5 ▸ We expect a number of factors to cause our operating results to fluctuate on a quarterly and annual basis, which may make it difficult to predict our future performance.● ● ● ● ● 5 ▸ We have had significant losses and anticipate future losses; if additional funding cannot be obtained, we may reduce or discontinue our product development and commercialization efforts.● ● ● ● ● 5 ▸ We have no approved products on the market and therefore do not expect to generate any revenues from product sales in the foreseeable future, if at all.● ● ● ● ● 5 ▸ We may be involved in lawsuits to protect or enforce our patents, which could be expensive and time consuming.● ● ● ● ● 5 ▸ We may be unable to commercialize our products if we are unable to protect our proprietary rights, and we may be liable for significant costs and damages if we face a claim of intellectual property infringement by a third party.● ● ● ● ● 5 ▸ We may not be able to compete with our larger and better financed competitors in the biotechnology industry.● ● ● ● ● 5 ▸ We may not be able to retain rights licensed to us by third parties to commercialize key products or to develop the third-party relationships we need to develop, manufacture and market our products.● ● ● ● ● 5 rw ▸ We may not be able to utilize all of our net operating loss carryforwards.● ● ● ● ● 5 ▸ We may suffer product and other liability claims; we maintain only limited product liability insurance, which may not be sufficient.● ● ● ● ● 5 ▸ We may use our financial and human resources to pursue a particular research program or product candidate and fail to capitalize on programs or product candidates that may be more profitable or for which there is a greater likelihood of success.● ● ● ● ● 5 
