# EDGAR Filing Document

**Accession Number:** 0001419041
**File Stem:** 0001193125-25-225010
**Filing Date:** 2025-9
**Character Count:** 26192
**Document Hash:** 0343e104f935fb15cce5bfd4969f5d59
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-225010.hdr.sgml**: 20250930

**ACCESSION NUMBER**: 0001193125-25-225010

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20250930

**DATE AS OF CHANGE**: 20250930

**EFFECTIVENESS DATE**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Forte Biosciences, Inc.
- **CENTRAL INDEX KEY:** 0001419041
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 261243872
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-290610
- **FILM NUMBER:** 251360436

**BUSINESS ADDRESS:**
- **STREET 1:** 3060 PEGASUS PARK DRIVE
- **STREET 2:** BUILDING 6
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75247
- **BUSINESS PHONE:** (310) 618-6994

**MAIL ADDRESS:**
- **STREET 1:** 3060 PEGASUS PARK DRIVE
- **STREET 2:** BUILDING 6
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75247

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Tocagen Inc
- **DATE OF NAME CHANGE:** 20071120

**As filed with the Securities and Exchange Commission on September 30, 2025** 

**Registration No. 333-** 

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM S-8** 

**REGISTRATION STATEMENT** 

***Under***

***The Securities Act of 1933***

## FORTE BIOSCIENCES, INC.
**(Exact name of Registrant as specified in its charter)** 

---

| | |
|:---|:---|
| **Delaware** | **26-1243872** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(I.R.S. Employer**<br> **Identification Number)** |

---

**3060 Pegasus Park Drive, Building 6** 

**Dallas, Texas 75247** 

**(Address of Principal Executive Offices, including zip code)** 

**2020 Inducement Equity Incentive Plan** 

**(Full title of the plan)** 

**Paul A. Wagner, Ph.D.** 

**Chief Executive Officer** 

**Forte Biosciences, Inc.** 

**3060 Pegasus Park Drive, Building 6** 

**Dallas, Texas 75247** 

**(310) 618-6994** 

**(Name, address and telephone number, including area code, of agent for service)** 

*Copies to:* 

**Dan Koeppen** 

**Ben Capps** 

**Wilson Sonsini Goodrich & Rosati, P.C.** 

**12235 El Camino Real** 

**San Diego, California 92130** 

**(858) 350-2300** 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer ☐ | ☐ |
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
|  |  | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

------

**EXPLANATORY NOTE** 

Forte Biosciences, Inc. (the "Registrant") is filing this Registration Statement with the Securities and Exchange Commission (the "Commission") to register 1,000,000 additional shares of common stock of the Registrant, par value $0.001 per share ("Common Stock") under the Registrant's 2020 Inducement Equity Incentive Plan (the "2020 Inducement Plan").

These additional shares of common stock are securities of the same class as other securities for which previous Registration Statements on Form S-8 were filed by the Registrant with the Securities and Exchange Commission (the "SEC") on April 12, 2024 (File No. 333-278647) and August 11, 2020 (File No. 333-278647) (the "Previous Registration Statements"). In accordance with General Instruction E of Form S-8, the contents of the Previous Registration Statements, including periodic reports filed after the Previous Registration Statements to maintain current information about the Registrant, are incorporated by reference into this Registration Statement.

**PART I** 

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS** 

The information specified in Item 1 and Item 2 of Part I of Form S-8 is omitted from this Registration Statement in accordance with the provisions of Rule 428 under the Securities Act of 1933, as amended (the "Securities Act") and the introductory note to Part I of Form S-8. The documents containing the information specified in Part I of Form S-8 will be delivered to the participants in the equity benefit plan covered by this Registration Statement as specified by Rule 428(b)(1) under the Securities Act. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of Form S-8, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

**PART II** 

**INFORMATION REQUIRED IN REGISTRATION STATEMENT** 

**Item 3. Incorporation of Documents by Reference.** 

The Registrant hereby incorporates by reference into this Registration Statement the following documents previously filed with the Commission:

(1) The Registrant's Annual Report on [Form 10-K](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1419041/000095017025046749/fbrx-20241231.htm) for the fiscal year ended December 31, 2024, filed with the SEC on March 28, 2025.

(2) The information specifically incorporated by reference into our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 from the Registrant's Definitive Proxy Statement on [Schedule 14A](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1419041/000119312525107130/d912010ddef14a.htm) filed on April 30, 2025.

(3) The Registrant's Quarterly Report on Form 10-Q for its fiscal quarter ended [March 31, 2025](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1419041/000095017025072569/fbrx-20250331.htm) and its Quarterly Report on Form 10-Q for its fiscal quarter ended [June 30, 2025](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1419041/000095017025108889/fbrx-20250630.htm), filed with the Commission on May 15, 2025 and August 14, 2025, respectively.

(4) All other reports filed with the Commission pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), since the end of the fiscal year covered by the Registrant's Annual Report referred to in (1) above.

(5) The description of the Registrant's common stock contained in the Company's Annual Report on Form 10-K filed with the Commission on [February 27, 2020](http://www.sec.gov/Archives/edgar/data/1419041/000156459020007402/toca-10k_20191231.htm), pursuant to Section 12(b) of the Exchange Act, including any amendment or report filed for the purpose of updating such description.

All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act on or after the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents; *provided*, *however*, that documents or information deemed to have been

------

furnished and not filed in accordance with the rules of the Commission shall not be deemed incorporated by reference into this Registration Statement. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any subsequently filed document which also is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

Under no circumstances will any information furnished under current items 2.02 or 7.01 of Form 8-K be deemed incorporated herein by reference unless such Form 8-K expressly provides to the contrary.

**Item 5. Interests of Named Experts and Counsel.** 

The validity of the issuance of the shares of the Registrant's Common Stock offered hereby has been passed upon by Wilson Sonsini Goodrich & Rosati, Professional Corporation ("WSGR"). Certain members of, and investment partnerships comprised of members of, and persons associated with, WSGR, directly or indirectly, own less than 0.3% of the outstanding shares of the Registrant's Common Stock.

**Item 6. Indemnification of Directors and Officers.** 

The Registrant's amended and restated certificate of incorporation provides that to the fullest extent permitted by applicable law, the Registrant is authorized to provide indemnification of (and advancement of expenses to) directors, officers and agents of the Registrant (and any other persons to which applicable law permits the Registrant to provide indemnification) through bylaw provisions, agreements with such agents or other persons, vote of stockholders or disinterested directors or otherwise in excess of the indemnification and advancement otherwise permitted by such applicable law. If applicable law is amended after approval by the stockholders of the Registrant's amended and restated certificate of incorporation to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director to the Registrant shall be eliminated or limited to the fullest extent permitted by applicable law as so amended.

The Registrant's amended and restated bylaws provide that the Registrant shall indemnify its directors and officers to the extent not prohibited by the Delaware General Corporate Law ("DGCL") or any other applicable law; provided, however, that the Registrant may modify the extent of such indemnification by individual contracts with its directors and officers; and, provided, further, that the Registrant shall not be required to indemnify any director or officer in connection with any proceeding (or part thereof) initiated by such person unless (i) such indemnification is expressly required to be made by law, (ii) the proceeding was authorized by the Registrant's Board of Directors, (iii) such indemnification is provided by the Registrant, in its sole discretion, pursuant to the powers vested in the Registrant under the DGCL or any other applicable law or (iv) such indemnification is otherwise required to be made the amended and restated bylaws. The Registrant's amended and restated bylaws also permit it to advance expenses to any director or officer who was or is a party or is threatened to be made a party to any action by reason of such status.

The rights conferred in the amended and restated certificate of incorporation and amended and restated bylaws are not exclusive, and the Registrant is authorized to enter into indemnification agreements with its directors, officers, employees, and agents and to obtain insurance to indemnify such persons.

The Registrant has entered into indemnification agreements with its directors and executive officers that provide the maximum indemnity allowed to directors and executive officers by Section 145 of the DGCL and also to provide for certain additional procedural protections, in addition to the indemnification provided for in its amended and restated certificate of incorporation and bylaws, and intends to enter into indemnification agreements with any new directors and executive officers in the future.

The Registrant has purchased and currently intends to maintain insurance on behalf of each and any person who is or was a director or officer of the Registrant against any loss arising from any claim asserted against him or her and incurred by him or her in any such capacity, subject to certain exclusions.

See also the undertakings set out in response to Item 9 herein.

------

**Item 8. Exhibits.** 

The Registrant has filed the exhibits listed on the accompanying Exhibit Index of this Registration Statement.

**EXHIBIT INDEX** 

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Exhibit**<br> **Number** | | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** |
| **Exhibit**<br> **Number** | <br>**Exhibit Description** | **Form** | **File No.** | **Exhibit** | **Filing Date** |
| 4.1 | [Specimen common stock certificate of the Registrant](http://www.sec.gov/Archives/edgar/data/1419041/000119312517107559/d312753dex41.htm) | S-1/A | 333-216574 | 4.1 | April 3, 2017 |
| 5.1\* | [Opinion of Wilson Sonsini Goodrich & Rosati, P.C.](d83263dex51.htm) |  |  |  |  |
| 10.1 | [2020 Inducement Equity Incentive Plan](http://www.sec.gov/Archives/edgar/data/1419041/000119312520216488/d917683dex101.htm) | S-8 | 333-244407 | 10.1 | August 11, 2020 |
| 10.2 | [Form of stock option agreements under the 2020 Inducement Equity Incentive Plan](http://www.sec.gov/Archives/edgar/data/1419041/000119312520216488/d917683dex102.htm) | S-8 | 333-244407 | 10.2 | August 11, 2020 |
| 23.1\* | [Consent of Independent Registered Accounting Firm (KPMG LLP)](d83263dex231.htm) |  |  |  |  |
| 23.2\* | [Consent of Wilson Sonsini Goodrich & Rosati, P.C. (included in Exhibit 5.1 hereto).](d83263dex51.htm) |  |  |  |  |
| 24.1\* | [Power of Attorney (included on the signature page hereto).](#sig) |  |  |  |  |
| 107\* | [Filing Fee Table](d83263dexfilingfees.htm) |  |  |  |  |

---

\* Filed herewith.

**Item 9. Undertakings.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The undersigned Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;

*provided, however*, that paragraphs (A)(1)(i) and (A)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Dallas, State of Texas, on September 30, 2025.

---

| | |
|:---|:---|
| **FORTE BIOSCIENCES, INC.** | **FORTE BIOSCIENCES, INC.** |
| By: | /s/ Paul A. Wagner, Ph.D. |
|  | Paul A. Wagner, Ph.D. |
|  | Chief Executive Officer |

---

**POWER OF ATTORNEY** 

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Paul A. Wagner Ph.D. and Antony Riley, and each of them, as such individual's true and lawful attorney in fact and agent with full power of substitution, for such individual in any and all capacities, to sign any and all amendments to this Registration Statement on Form S-8 (including post-effective amendments), and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney in fact, proxy and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorney in fact, proxy and agent, or the individual's substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated:

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Paul A. Wagner, Ph.D.<br> Paul A. Wagner, Ph.D. | Director and Chief Executive Officer<br> (Principal Executive Officer) | September 30, 2025 |
| /s/ Antony Riley<br> Antony Riley | Chief Financial Officer<br> (Principal Financial and Accounting Officer) | September 30, 2025 |
| /s/ Scott Brun, M.D.<br> Scott Brun, M.D. | Director | September 30, 2025 |
| /s/ Stephen Doberstein, Ph.D.<br> Stephen Doberstein, Ph.D. | Director | September 30, 2025 |
| /s/ Barbara Finck, M.D.<br> Barbara Finck, M.D. | Director | September 30, 2025 |
| /s/ David Gryska<br> David Gryska | Director | September 30, 2025 |
| /s/ Shiv Kapoor<br> Shiv Kapoor | Director | September 30, 2025 |
| /s/ Steven Kornfeld<br> Steven Kornfeld | Director | September 30, 2025 |
| /s/ Rich Vincent<br> Rich Vincent | Director | September 30, 2025 |

---

## Exhibit 5.1

**Exhibit 5.1** 

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| | |
|:---|:---|
| ![LOGO](g83263dsp2.jpg) | Wilson Sonsini Goodrich & Rosati Professional Corporation<br>650 Page Mill Road Palo Alto, California 94304-1050<br>O: 650.493.9300<br> F: 650.493.6811 |

---

September 30, 2025

Forte Biosciences, Inc.

3060 Pegasus Park Dr.

Building 6

Dallas, Texas 75247

---

| | |
|:---|:---|
| **Re:** | **Registration Statement on Form S-8**  |

---

Ladies and Gentlemen:

At your request, we have examined the Registration Statement on Form S-8 (the "Registration Statement") to be filed by Forte Biosciences, Inc., a Delaware corporation (the "Company"), with the Securities and Exchange Commission on or about the date hereof, in connection with the registration under the Securities Act of 1933, as amended, of shares of your common stock, par value $0.001 per share (the "Shares"), consisting of 1,000,000 shares of common stock to be issued under the Company's 2020 Inducement Equity Incentive Plan (the "2020 Inducement Plan"). As your legal counsel, we have reviewed the actions proposed to be taken by you in connection with the issuance and sale of the Shares to be issued under the 2020 Inducement Plan.

On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares, when issued and sold in the manner described in the 2020 Inducement Plan and pursuant to the agreements that accompany the 2020 Inducement Plan, will be legally and validly issued, fully paid and nonassessable.

We hereby consent to the filing of this opinion as an exhibit to the above-referenced Registration Statement and to the use of our name wherever it appears in the Registration Statement and in any amendments thereto. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

Very truly yours,<br>/s/ Wilson Sonsini Goodrich & Rosati<br>WILSON SONSINI GOODRICH & ROSATI<br> Professional Corporation<br>

AUSTIN BEIJING BOSTON BOULDER BRUSSELS HONG KONG LONDON LOS ANGELES NEW YORK PALO ALTO

SALT LAKE CITY SAN DIEGO SAN FRANCISCO SEATTLE SHANGHAI WASHINGTON, DC WILMINGTON, DE

## Exhibit 23.1

**Exhibit 23.1** 

Consent of Independent Registered Public Accounting Firm

We consent to the use of our report dated March 28, 2025, with respect to the consolidated financial statements of Forte Biosciences, Inc., incorporated herein by reference.

/s/ KPMG LLP

San Diego, California

September 30, 2025

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

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| |
|:---|
| **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Forte Biosciences, Inc.**  |

---

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Security Type**  | **Security Class Title**  | **Fee Calculation Rule**  | **Amount Registered**  | **Proposed Maximum Offering Price Per Unit**  | **Maximum Aggregate Offering Price**  | **Fee Rate**  | **Amount of Registration Fee**  |
| 1 | Equity | Common Stock, par value $0.001 per share, reserved for issuance under the Registrant's 2020 Inducement Equity Incentive Plan | Other | 1000000 | $14.36 | $14360000.00 | 0.0001531 | $2198.52 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $14360000.00  |  | $2198.52  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $2198.52  |

---

 **Offering Note** <br>

<sup>1</sup> (1) Pursuant to Rule 416(a) of the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement shall also cover any additional shares of the Registrant's common stock that become issuable under the 2020 Inducement Equity Incentive Plan (the "2020 Inducement Plan"), by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of the Registrant's outstanding shares of common stock. (2) Represents an increase in the number of shares of common stock reserved for issuance under the 2020 Inducement Plan. (3) Pursuant to Rule 457(c) and 457(h) under the Securities Act, and solely for the purpose of calculating the registration fee, the proposed maximum offering price per share is $14.36, which is the average of the high and low prices of shares of Registrant's common stock on The Nasdaq Capital Market on September 26, 2025 (such date being within five business days of the date that this Registration Statement was filed with the U.S. Securities and Exchange Commission).

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| | |
|:---|:---|
| | |
| **Rule 457(p)** | **Rule 457(p)** |
| Fee Offset Claims | N/A |
| Fee Offset Sources | N/A |

---