Company: LNAI
Filing Date: 2025-02-19
Form Type: 10-K/A
Source: 0001731122-25-000252
Chunk: 80

Company: Lunai Bioworks Inc.
Filing Date: 2025-02-19
Form: 10-K/A
Chunk 80
---
                                
 to any of our product candidates or clinical development programs;                                                           |
| ● | the results of our efforts                                                                                                   
 to in-license or acquire additional product candidates or products;                                                          |
| ● | actual or anticipated changes                                                                                                
 in estimates as to financial results, development timelines or recommendations by securities analysts;                       |
| ● | variations in our financial                                                                                                  
 results or those of companies that are perceived to be similar to us;                                                        |

<div align='center'>51</div>

| ● | fluctuations in the valuation                               
 of companies perceived by investors to be comparable to us; |
| ● | inconsistent trading volume                                 
 levels of our shares;                                       |
| ● | announcement or expectation                                 
 of additional financing efforts;                            |
| ● | sales of our Common Stock                                   
 by us, our insiders or our other stockholders;              |
| ● | market conditions in the                                    
 pharmaceutical and biotechnology sectors;                   |
| ● | general economic, industry                                  
 and market conditions; and                                  |
| ● | the other risks described                                   
 in this “Risk Factors” section.                             |

In addition, the stock markets in general, and the markets for biotechnology,
pharmaceutical and technology stocks in particular, have experienced significant volatility that has often been unrelated to the operating
performance of particular companies.

Sales of a substantial number of shares of our Common Stock in the public market could cause our stock price to fall.

A significant portion of our Common
Stock is held in restricted form, and consequentially a minority of our outstanding Common Stock actively trades in the public markets.
Sales of a substantial number of such shares of our Common Stock in the public market could occur at any time. While a large majority
of such shares are unregistered and subject to volume restrictions on sale pursuant to Rule 144 under the Securities Act, these restrictions
could be lifted if any of our stockholders ceased to be bound by such restrictions. These sales, or the perception in the market that
the holders of a large number of shares intend to sell shares, could reduce the market price of our Common Stock.

We have incurred and will continue to incur increased costs as a result of being a public company and our management expects to devote substantial time to public company compliance programs.

As a public company, we have incurred
and will continue to incur significant legal, accounting and other expenses. We are subject to the reporting requirements of the Exchange
Act, which require, among other things, that we file with the SEC annual, quarterly, and current reports with