Company: LNAI
Filing Date: 2025-12-03
Form Type: 424B5
Source: 0001731122-25-001626
Chunk: 16

Company: Lunai Bioworks Inc.
Filing Date: 2025-12-03
Form: 424B5
Chunk 16
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 results of testing, technological innovations,                     
 or new products and services;                                                                    |
| ● | the level of expenses related to any of our product candidates or clinical development programs; |
| ● | additions or departures of key personnel;                                                        |
| ● | operating results that fall below expectations;                                                  |
| ● | announcements by us relating to any strategic                                                    
 relationship;                                                                                    |
| ● | sales, or the perception that future sales                                                       
 may occur, of equity securities or issuance of debt;                                             |
| ● | generic economic, industry and market conditions;                                                |
| ● | changes in state, provincial, or federal regulations                                             
 affecting us and our industry;                                                                   |
| ● | market conditions in the pharmaceutical and biotechnology sectors;                               |
| ● | the continued large fluctuations in major stock                                                  
 market indexes which causes investors to sell                                                    
 our Common Stock;                                                                                |
| ● | economic, political, and other external                                                          
 factors; and                                                                                     |
| ● | period-to-period fluctuations in our financial                                                   
 results.                                                                                         |

In addition,
the stock market in general, and the markets for biotechnology, pharmaceutical and technology
stocks in particular, have experienced extreme price and volume fluctuations that have often
been unrelated or disproportionate to the operating
performance of the issuer. During the 12-month
period ended December 1, 2025, our Common Stock has traded as high
as $19.05 per share and as low as $0.83 per share.

These broad market fluctuations
may adversely affect the trading price of our
Common Stock. These and other external factors have caused and may continue to cause
the market price
and demand for our Common Stock to fluctuate,
which may limit or prevent investors from readily selling their shares of Common Stock and
may otherwise negatively affect
the liquidity of our Common Stock. While the market
price of our Common Stock may respond to developments regarding operating performance and
prospects, expansion plans,
and developments regarding our industry, we believe
that the extreme volatility
we experienced in recent periods reflects market
and trading dynamics unrelated to our underlying business, our actual
or expected operating performance, our financial
condition, or macro or industry fundamentals,
and we do not know if these dynamics will continue
or how long they will last. Under these circumstances,
we caution you against investing in our Common Stock,
unless you are prepared to incur the risk of losing all
or a substantial portion of your investment.

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