Commentary on Financial Condition

“As of June 30, 2026, we had $540.1 million of cash, cash equivalents and marketable securities, comprising $120.1 million in cash and cash equivalents and $420.0 million in marketable securities. The increase of $6.3 million since December 31, 2025, was primarily driven by the full receipt of a $36.0 million litigation settlement, of which was receivable at December 31, 2025, and a $56.0 million upfront payment to discover and develop next-generation T-cell engaging (TCE) multispecific antibodies. This was partially offset by cash flow used in operations due to our continued research and development activity for internal programs in discovery, preclinical, and clinical development as well as for partnered programs. We intend to continue to invest in research and development efforts towards expanding our capabilities and expertise, grow and advance our internal pipeline. Simultaneously, w” (from August 2026 filing’s Liquidity and Capital Resources) Filed At: 2026-08-05