Page 11 of 15 – SEC Filing
| Item 5. | Interest in Securities of the Issuer. |
(a) The
aggregate percentages of Shares reported owned by each person named herein is based on 104,146,458 Shares, which is the number
of outstanding Shares as advised by the Issuer and including the 8,495,575 ADSs issued pursuant to the Subscription Agreement
and disclosed on the Issuer’s Prospectus Supplement dated July 26, 2017 and filed with the Securities and Exchange Commission
on July 26, 2017 and 30,625 ADSs issuable upon the exercise of certain Series A warrants.
As of the close of
business on August 7, 2017, (i) BVF beneficially owned 12,129,350 Shares (represented by 12,129,350 ADSs, including 30,625 ADSs
issuable upon the exercise of Series A Warrants), (ii) BVF2 beneficially owned 7,792,854 Shares (represented by 7,792,854 ADSs),
(iii) Trading Fund OS beneficially owned 2,167,956 Shares (represented by 2,167,956 ADSs), and (iv) 3,936,040 Shares (represented
by 3,936,040 ADSs) were held in the Partners Managed Accounts, representing percentage ownership of approximately 11.7%, 7.5%,
2.1%, and 3.8%, respectively, of the Shares outstanding.
As of the close of
business on August 7, 2017, (i) BVF beneficially owned Series A Warrants to purchase 1,431,750 ADSs and Series B Warrants to purchase
1,431,750 ADSs, (ii) BVF2 beneficially owned Series A Warrants to purchase 893,040 ADSs and Series B Warrants to purchase 893,040
ADSs, (iii) Trading Fund OS beneficially owned Series A Warrants to purchase 247,807 ADSs and Series B Warrants to purchase 247,807
ADSs, and (iv) Series A Warrants to purchase 400,854 ADSs and Series B Warrants to purchase 400,854 ADSs were held in the Partners
Managed Accounts. The Warrants are subject to a blocker provision that precludes the holders from exercising the Warrants to the
extent that the holder and its affiliates would beneficially own (as determined in accordance with Section 13(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)) in excess of 24.99% of the Shares outstanding immediately after
giving effect to such exercise. Accordingly, excluded from the Reporting Persons’ beneficial ownership reported in this
statement is 2,942,826 ADSs underlying the Series A Warrants and 2,973,451 ADSs underlying the Series B Warrants.
Partners OS, as the
general partner of Trading Fund OS, may be deemed to beneficially own the 2,167,956 Shares (represented by 2,167,956 ADSs) beneficially
owned by Trading Fund OS.
Partners, as the
general partner of BVF and BVF2, the sole member of Partners OS, and the investment manager of Trading Fund OS and the
Partners Managed Accounts, may be deemed to beneficially own the 26,026,200 Shares (represented by 26,026,200 ADSs, including
30,625 ADSs issuable upon the exercise of Series A Warrants), beneficially owned in the aggregate by BVF, BVF2, Trading Fund
OS, and the Partners Managed Accounts, representing percentage ownership of approximately 24.99% of the Shares outstanding.
BVF Inc., as the general
partner of Partners, may be deemed to beneficially own the 26,026,200 Shares (represented by 26,026,200 ADSs, including 30,625
ADSs issuable upon the exercise of Series A Warrants) beneficially owned by Partners, representing percentage ownership of approximately
24.99% of the Shares outstanding.
Mr. Lampert, as a
director and officer of BVF Inc. may be deemed to beneficially own the 26,026,200 Shares (represented by 26,026,200 ADSs, including
30,625 ADSs issuable upon the exercise of Series A Warrants) beneficially owned by BVF Inc., representing percentage ownership
of approximately 24.99% of the Shares outstanding.
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