When PBLS insiders can sell

However, subject to applicable securities law restrictions, these shares will be able to be sold in the public market beginning 181 days 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 granted under those plans will become available for sale in the public market to the extent permitted by the provisions of applicable vesting schedules, market stand-off agreements and/or lock-up agreements, as well as Rules 144 and 701 under the Securities Act. For more information, see the section titled Shares Eligible for Future Sale . Upon the completion of this offering and the concur…

…ure equity (SAFEs) of the Company; (e) the transfer or disposition of shares of common stock purchased by the locked-up party in this offering or on the open market following this offering; or (f) the establishment of a 10b5-1 trading plan that complies with Rule 10b5-1 under the Exchange Act or from amending any existing such plan so long as, among other things, there are no sales thereunder for the duration of the lock-up. Nasdaq Global Select Market Listing Our common stock has been approved for listing on The Nasdaq Global Select Market, subject to notice of issuance, under the symbol PBLS . Determination of Offering Price Prior to this offering, there has been no public market for our common stock.

…restrictions on the actions of our executive officers, directors and other stockholders described above do not apply, subject in certain cases to various conditions, to certain transactions, including transfers (i) as a bona fide gift or gifts, including, without limitation, to a charitable organization or educational institution, or for bona fide estate planning purposes; (ii) to any trust, partnership, limited liability company or any other entities for the direct or indirect benefit of the locked-up party or the immediate family of the locked-up party; (iii) pursuant to distributions by a trust to its beneficiaries; (iv) to any c…

…ractitioners, clinical nurse specialists, certified nurse anesthetists, anesthesiology assistants and certified nurse-midwives) and teaching hospitals, and ownership and investment interests held by physicians and their immediate family members. Federal government price reporting laws, which require drug makers 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. State law equivalents of each of the above federal laws and state laws…

…on of a Simple Agreement for Future Equity ( SAFE ), in the aggregate amount of $50.0 million, based on the initial public offering price of $20.00 per share, and excludes: 8,823,077 shares of common stock issuable upon exercise of stock options outstanding as of March 31, 2026 under our 2016 Employee, Director and Consultant Equity Incentive Plan, as amended ( 2016 Plan ), with a weighted average exercise price of $2.67 per share; 5,986,341 shares of common stock issuable upon exercise of stock options outstanding as of March 31, 2026 under our 2026 Stock Option and Grant Plan ( January 2026 Plan ), with a weighted average exercise…