| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| holding | AARD | Series C Convertible Preferred Stock | Feb 12, 2025 | Common Stock | 6.78M | See Footnote | F1, F2, F3 |
| Id | Content |
|---|---|
| F1 | The Series C Convertible Preferred Stock is convertible into Common Stock at a 1-for-8.474 conversion ratio, after giving effect to a reverse stock split effected by the Issuer on February 5, 2025, for an aggregate of 800,189 shares of Common Stock. The Series C Convertible Preferred Stock may be converted into Common Stock at any time at the election of the Reporting Persons, and is expected to convert automatically into Common Stock upon the closing of the Issuer's initial public offering of shares of Common Stock. |
| F2 | Cormorant Asset Management, LP ("Cormorant") serves as the investment manager of Cormorant Global Healthcare Master Fund, LP (the "Master Fund") and Cormorant Private Healthcare Fund V, LP ("Fund V"). Cormorant Global Healthcare GP, LLC ("GP LLC") serves as general partner of the Master Fund, and Cormorant Private Healthcare V GP, LLC ("GP V LLC") serves as general partner of Fund V. Bihua Chen serves as the managing member of GP LLC, GP V LLC and the general partner of Cormorant. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or her pecuniary interest therein, and the filing of this Form 3 shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934 or for any other purpose. |
| F3 | Represents 940,498 and 5,840,312 shares of Series C Convertible Preferred Stock beneficially owned by the Master Fund and Fund V, respectively. |