Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On December 30, 2022, we exercised our option to draw the second $25 million tranche under our loan and security agreement with Oxford Finance LLC ("Oxford") and the second tranche was funded on such date. Pursuant to the terms of the loan and security agreement, concurrent with the funding of the second tranche, we granted Oxford a warrant to purchase 224,128 shares of our common stock at an exercise price of $1.95 per share, exercisable for a five-year period from the date of issuance.

Item 3.02 Unregistered Sales of Equity Securities

The information contained in Item 2.03 of this Current Report on Form 8-K is incorporated herein by reference into this Item 3.02. The warrants discussed above and the underlying shares of common stock have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and they have been issued in reliance upon the exemption from the registration requirements of the Securities Act provided by Section 4(2) thereof.

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