Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 33

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 33
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, or even terminate our operations.

<div align='center'>23</div>

We will require substantial additional financing to achieve our goals, and a failure to obtain this necessary capital when needed could force us to delay, limit, reduce or terminate our product development or commercialization efforts.

We expect to expend substantial
resources for the foreseeable future to continue the pre-clinical development of our cell, gene and immunotherapy product candidates,
and the advancement and potential expansion of our pre-clinical research pipeline. We also expect to continue to expend resources for
the development and manufacturing of product candidates and the technology we have licensed or have a right to license from our licensors. These
expenditures will include costs associated with research and development, potentially acquiring or licensing new product candidates or
technologies, conducting pre-clinical and clinical studies and potentially obtaining regulatory approvals and manufacturing products,
as well as marketing and selling products approved for sale, if any. Under the terms of certain of our license agreements, we are obligated
to make payments upon the achievement of certain development, regulatory and commercial milestones. We will also need to make significant
expenditures to develop a commercial organization capable of sales, marketing, and distribution for any products, if any, that we intend
to sell ourselves in the markets in which we choose to commercialize on our own. In addition, other unanticipated costs may arise. Because
the design and outcome of our ongoing, planned and anticipated pre-clinical and clinical studies is highly uncertain, we cannot reasonably
estimate the actual amounts necessary to successfully complete the development and commercialization of our product candidates.

Our future capital requirements
depend on many factors, including:

| ● | the costs and payments associated with license agreements for our potential products and technologies;                                                                                      |
| ● | the costs of conducting pre-clinical and clinical studies and the costs of manufacturing our product candidates;                                                                            |
| ● | the timing of, and the costs involved in, obtaining regulatory approvals for our product candidates, if clinical studies are successful, including any costs from post-market requirements; |
| ● | the cost of commercialization activities for our product candidates, if any of these product candidates is approved for sale, including marketing, sales and distribution costs;            |
| ● | our ability to establish and maintain strategic licensing or other arrangements and the financial terms of such agreements;                                                                 |
| ● | the costs involved in preparing, filing, prosecuting, maintaining, expanding, defending and enforcing patent claims, including litigation costs and the outcome of such