Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 1131

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 1131
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 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 litigation; and

    ●
    the timing, receipt and amount of sales of, or royalties on, our future products, if any.

21

Additional funds may not be available
when we need them on terms that are acceptable to us, or at all. If adequate funds are not available to us on a timely basis, we may be
required to delay, limit, reduce or terminate preclinical studies, clinical studies, or other development activities for one or more of
our product candidates or delay, limit, reduce or terminate our establishment of sales, marketing and distribution capabilities or other
activities that may be necessary to commercialize our product candidates.

Raising additional capital
may cause dilution to our existing stockholders, restrict our operations or require us to relinquish rights to our technologies. 

Until such time as we can generate
substantial product revenues, we may attempt to finance our cash needs through equity offerings, debt financings, government and/or other
third-party grants or other third-party funding, marketing and distribution arrangements and other collaborations, strategic alliances,
and licensing arrangements. To the extent that we raise additional capital through the sale of equity or convertible debt securities,
our investors’ ownership interest will be diluted. Debt financing, if available, may involve agreements that include covenants limiting
or restricting our ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends.
If we are unable to obtain funding on a timely basis, we may be required to significantly curtail one or more clinical research or development
programs