Page 11 of 13 – SEC Filing
The beneficial ownership for each of
the Reporting Persons includes the shares of Common Stock issuable upon exercise of the Warrants held by such Reporting Person
and is rounded down to the nearest full share of Common Stock.
As of the close of business on July
20, 2017 (i) BVF beneficially owned 2,443,720 shares of Common Stock, including 814,573 shares of Common Stock issuable upon the
exercise of certain Warrants, (ii) BVF2 beneficially owned 1,574,254 shares of Common Stock, including 524,751 shares of Common
Stock issuable upon the exercise of certain Warrants, and (iii) Trading Fund OS beneficially owned 437,841 shares of Common Stock,
including 145,947 shares of Common Stock issuable upon the exercise of certain Warrants.
Partners OS, as the general partner
of Trading Fund, OS may be deemed to beneficially own the 437,841 shares of Common Stock beneficially owned by Trading Fund OS,
including 145,947 shares of Common Stock issuable upon the exercise of certain Warrants.
Partners, as the general partner of
BVF, BVF2, the investment manager of Trading Fund OS, and the sole member of Partners OS, may be deemed to beneficially own the
5,250,000 shares of Common Stock beneficially owned in the aggregate by BVF, BVF2, Trading Fund OS, and certain Partners managed
accounts (the “Partners Managed Accounts”), including 794,184 shares of Common Stock held in the Partners Managed Accounts
(which includes 264,728 shares of Common Stock issuable upon the exercise of certain Warrants).
BVF Inc., as the general partner of
Partners, may be deemed to beneficially own the 5,250,000 shares of Common Stock beneficially owned by Partners.
Mr. Lampert, as a director and officer
of BVF Inc., may be deemed to beneficially own the 5,250,000 shares of Common Stock beneficially owned by BVF Inc.
The foregoing should not be construed
in and of itself as an admission by any Reporting Person as to beneficial ownership of any Common Stock owned by another Reporting
Person. Partners OS disclaims beneficial ownership of the Common Stock beneficially owned by Trading Fund OS. Each of Partners,
BVF Inc. and Mr. Lampert disclaims beneficial ownership of the Common Stock beneficially owned by BVF, BVF2, Trading Fund OS, and
the Partners Managed Accounts, and the filing of this statement shall not be construed as an admission that any such person or
entity is the beneficial owner of any such securities.
| (b) | Percent of class: |
The following percentages are based
on a denominator that is the sum of: (a) 73,656,606 shares of Common Stock outstanding as disclosed in the Issuer’s Prospectus
filed with the Securities and Exchange Commission on July 21, 2017 and (b) 1,750,000 shares of Common Stock issuable upon the exercise
of certain Warrants.
As of the close of business on July
20, 2017 (i) BVF beneficially owned approximately 3.2% of the outstanding Common Stock, including shares of Common Stock issuable
upon the exercise of certain Warrants (ii) BVF2 beneficially owned approximately 2.1% of the outstanding Common Stock, including
shares of Common Stock issuable upon the exercise of certain Warrants (iii) Trading Fund OS beneficially owned less than 1% of
the outstanding Common Stock including shares of Common Stock issuable upon the exercise of certain Warrants (iv) Partners OS may
be deemed to beneficially own less than 1% of the outstanding Common Stock, and (v) each of Partners, BVF Inc. and Mr. Lampert
may be deemed to beneficially own approximately 7.0% of the outstanding Common Stock (approximately 1.1% of which is held in the
Partners Managed Accounts, including shares of Common Stock issuable upon the exercise of certain Warrants).
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