Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 1130

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 1130
---
 of our financial condition and other factors described herein,
there is substantial doubt about our ability to continue as a going concern. Our ability to continue as a going concern will depend on
our ability to obtain additional funding, as to which no assurances can be given. We continue to analyze various alternatives, including
potentially obtaining debt or equity financings or other arrangements. Our future success depends on our ability to raise capital. We
cannot be certain that raising additional capital, whether through selling additional debt or equity securities or obtaining a line of
credit or other loan, will be available to us or, if available, will be on terms acceptable to us. If we issue additional securities to
raise funds, these securities may have rights, preferences, or privileges senior to those of our Common Stock, and our current shareholders
may experience dilution. If we are unable to obtain funds when needed or on acceptable terms, we may be required to curtail our current
development programs, cut operating costs, forgo future development and other opportunities, or even terminate our operations.

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