23.   Subsequent Events

The Company has evaluated all events subsequent to the balance sheet date through May 13, 2024, the date these financial statements are available to be issued. During this period, there were no material subsequent events requiring disclosure except as discussed below and in Note 16 – Stockholders’ Equity.

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Vesting of RSUs

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During the fourth quarter of Fiscal year 2024, RSUs for 12,227 shares of Common Stock were vested.

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Equity Grants

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On April 26, 2024, the Compensation Committee of the Board approved stock option grants to various employees to purchase 80,800 shares of the Common Stock at an exercise price of $1.72 per share, which included a stock option grant of 35,800 shares of the Common Stock to Felipe Duran, the Company’s Chief Financial Officer. The options vest 25% after one year and then in equal quarterly installments over a 36-month period and expire on the tenth anniversary of the grant date.  In addition, the Compensation Committee of

the Board approved stock option grants to various consultants to purchase 399,000 shares of the Common Stock at an exercise price of $1.72 per share. The options vest quarterly over 12 months commencing on April 26, 2024.

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On May 9,  2024, the Board approved a stock option grant to Dr. Martin Brenner, the Company’s Chief Executive Officer and Chief Scientific Officer, to purchase 147,300 shares of the Common Stock at an exercise price of $1.88 per share, which options vest 25% after one year and then in equal quarterly installments over a 36-month period and expire on the tenth anniversary of the grant date.  On May 9, 2024, the Board approved stock option grants to Dr. Brenner, Mr. Duran and an employee, to purchase 110,000 shares, 90,000 shares and 55,000 shares, respectively, of the Common Stock at an exercise price of $1.88 per shares, which options vest in equal amounts on a quarterly basis over a 36-month period.

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