16. Subsequent Events

Subsequent events have been evaluated through the date of filing of the unaudited condensed consolidated financial statements. The Company has identified the following subsequent events:

Restructuring Plan

In August 2026, the Company, with the approval of the Board of Directors and executive management, developed an enterprise-wide restructuring plan intended to streamline its operating plan and organizational structure to align resources behind its ocular oncology portfolio. In connection with this restructuring plan, the Company estimates to incur restructuring charges of approximately $2.9 million to $3.2 million, comprised of employee termination benefits which include severance, continuation of health care benefits, and outplacement services as well as incremental stock-based compensation expense resulting from the acceleration of vesting of certain stock-based awards. The restructuring plan is expected to be substantially complete by the end of the third quarter of 2026.

Charter Amendment

On August 5, 2026, the Company held a Special Meeting of Stockholders, or the Special Meeting, to (i) approve an amendment to the Company’s Tenth Amended and Restated Certificate of Incorporation to increase the number of authorized shares of common stock from 150,000,000 to 500,000,000, or the Charter Amendment, and (ii) to approve an amendment to the evergreen provision in the 2021 Plan to provide that any of the Company’s outstanding pre-funded warrants will be added to the total number of shares of common stock that are issued and outstanding as of each December 31 for purposes of the evergreen formula used in calculating the annual increase in the shares available to grant under the 2021 Plan. Stockholders approved both proposals and the Company filed the Charter Amendment on August 5, 2026.