When KARD insiders can sell

…ments entered into by our directors, officers and substantially all of our stockholders with the underwriters in connection with this offering under which they have agreed or will agree, subject to specific exceptions described in the section of this prospectus titled " Underwriting ," not to sell any of our stock for 180 days following the date of this prospectus. We refer to such period as the lock-up period. We and certain of the underwriters may release certain stockholders from the market standoff agreements or lock-up agreements prior to the end of the lock-up period. Subject to applicable securities law restrictions, these shares will be able to be sold in the public market beginning on the 181st day after the date of this prospectus. Shares issued upon the exercise of stock options outstanding under our equity incentive plans or pursuant to future awards grant…

Common stock to be outstanding immediately after this offering 89,339,121 shares (or 93,089,121 shares if the underwriters exercise their option to purchase additional shares of common stock in full). We will have two series of common stock authorized immediately following this offering: voting common stock and non-voting common stock. We are offering voting common stock in this offering and unless otherwise noted, all references in this prospectus to our "common stock" refer to our voting common stock. The non-voting common stock will not be listed for trading on any securities exchange.

…ny common stock or warrant received upon such conversion would be subject to restrictions similar to those in the immediately preceding paragraph; and (d) the establishment by lock-up parties of trading plans under Rule 10b5-1 under the Exchange Act, provided that such plan does not provide for the transfer of lock-up securities during the restricted period. The representatives, in their sole discretion, may release the securities subject to any of the lock-up agreements with the underwriters described above, in whole or in part at any time. We have agreed to indemnify the underwriters against certain liabilities, including liabilities under the Securities Act.

…up agreements between the underwriters and the lock-up parties do not apply, subject in certain cases to various conditions, to certain transactions, including (a) transfers or dispositions of lock-up securities: (i) as bona fide gifts, as a charitable contribution, or for bona fide estate planning purposes, (ii) by will or intestacy or any other testamentary document, (iii) to any member of the lock-up party's immediate family or to any trust for the direct or indirect benefit of the lock-up party or any immediate family member or if the lock-up party is a trust, to a trustor, trustee (or co-trustee) or beneficiary of the trust or…

…nurse specialists, anesthesiologist assistants, certified registered nurse anesthetists, and certified nurse midwives), and teaching hospitals, as well as ownership and investment interests held by physicians and their immediate family members. Federal government price reporting laws, which require manufacturers to calculate and report complex pricing metrics in an accurate and timely manner to government programs. Federal consumer protection and unfair competition laws, which broadly regulate marketplace activities and activities that potentially harm consumers. Analogous state and foreign laws and regulations, such as state and f…

See the section " Underwriting—Directed share program ." The underwriters expect to deliver the shares against payment on or about June 22, 2026. J.P. Morgan Jefferies Leerink Partners TD Cowen Prospectus dated June 17, 2026 Table of Contents Table of contents Page Prospectus summary 1 The offering 7 Summary consolidated financial data 10 Risk factors 12 Special note regarding forward-looking statements 108 Use of proceeds 110 Dividend policy 111…

…stock that will be outstanding after this offering is based on 64,339,121 shares of common stock (which includes 829,582 shares of unvested restricted common stock and 1,063,561 shares of common stock issued upon early exercise of stock options that remain subject to repurchase) outstanding as of March 31, 2026, after giving effect to the conversion of all outstanding shares of our redeemable convertible preferred stock into an aggregate of 47,764,024 shares of common stock on the date on which the registration statement of which this prospectus is a part was declared effective by the SEC, and excludes: 15,701,114 shares of common…

We and certain of the underwriters may release certain stockholders from the market standoff agreements or lock-up agreements prior to the end of the lock-up period. Subject to applicable securities law restrictions, these shares will be able to be sold in the public market beginning on the 181st day after the date of this prospectus. Shares issued upon the exercise of stock options outstanding under our equity incentive plans or pursuant to future aw…