When SGP insiders can sell

…r 69 exchangeable for our common stock have entered into market standoff agreements with us and have entered or will enter into lock-up agreements under which we have agreed or will agree, subject to specific exceptions described in the section titled "Underwriting," not to offer, sell, or transfer such securities for 180 days following the date of this prospectus. We refer to such period as the lock-up period. Jefferies LLC and Leerink Partners LLC may, in their sole discretion and at any time or from time to time before the termination of the lock-up period release all or any portion of the securities subject to lock-up agreements. As a result of these agreements and subject to the provisions of Rule 144 or Rule 701 under the Securities Act of 1933, as amended (the Securities Act), the shares of our common stock will be available for sale in the public market follow…

Common stock to be outstanding immediately after this offering 31,911,164 shares (or 33,317,414 shares if the underwriters exercise their option to purchase additional shares of our common stock in full). Use of proceeds We estimate that the net proceeds from the sale of shares of our common stock in this offering will be approximately $135.2 million (or approximately $156.1 million if the underwriters exercise their option to purchase additional shares in full), based upon the initial public offering price of $16.00 per share, and after deducting underwriting discounts and commissions and estimated offering expenses payable by us.

After this offering, certain of our employees, including our executive officers and or directors, may enter into written trading plans that are intended to comply with Rule 10b5-1 under the Exchange Act. Sales under these trading plans would not be permitted until the expiration of the lock-up agreements relating to the offering described above. In addition, our directors and officers and substantially all of the holders of our equity securities have entered into market standoff agreements with us under which they have agreed that, subject to certain exceptions, for a 189 period of up t…

Notwithstanding the foregoing, the securityholder may transfer shares of common stock, or securities exchangeable or exercisable for or convertible into shares of common stock (i) by a bona fide gift, including, without limitation, to a charitable organization or educational institution (ii) by will or intestate succession to a family member (iii) to a family member or any trust for the direct or indirect benefit of the securityholder and or a family member of the securityholder (iv) by operation of law pursuant to a court order or a settlement agreement related to the distribution of assets in con…

…re professionals (such as physician assistants and nurse practitioners, among others), and teaching hospitals, and information regarding ownership and investment interests held by physicians (as defined above) and their immediate family members and nanalogous state and foreign laws and regulations, such as state anti-kickback and false claims laws which may apply to sales or marketing arrangements and claims involving healthcare items or services reimbursed by non-governmental third-party payors, including private insurers, state laws that require biotechnology companies to comply with the biotechnology industry's voluntary complian…

No held-to-maturity securities were pledged as collateral at year end. There were no sales or transfers of held-to-maturity securities during the periods presented. The fair value of the Company's short-term investments was determined using Level 1 inputs. Other Receivables Other receivables consist of amounts due from the Internal Revenue Service related to refundable R&D payroll tax credits. Other Non-Current Assets Other non-current assets are deposits and other prepayments for future services expected to be received or consumed more than twelve months from December 31, 2024 and 2023, respectively.

…utomatic conversion of our outstanding shares of preferred stock into an aggregate of 20,341,968 shares of common stock upon the closing of this offering, and excludes n2,989,853 shares of common stock issuable upon the exercise of outstanding options as of September 30, 2025 pursuant to our Amended and Restated 2019 Equity Incentive Plan (the 2019 Plan), with a weighted-average exercise price of $3.79 per share n425,495 shares of common stock issuable upon the exercise of outstanding options granted after September 30, 2025 pursuant to our 2019 Plan, with a weighted-average exercise price of $10.55 per share n1,312,044 shares of co…