# EDGAR Filing Document

**Accession Number:** 0001029125
**File Stem:** 0001437749-23-001839
**Filing Date:** 2023-1
**Character Count:** 26070
**Document Hash:** aab046f8888e9789c65437a58207e787
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-23-001839.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001437749-23-001839

**CONFORMED SUBMISSION TYPE**: S-1MEF

**PUBLIC DOCUMENT COUNT**: 6

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**EFFECTIVENESS DATE**: 20230126

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Panbela Therapeutics, Inc.
- **CENTRAL INDEX KEY:** 0001029125
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 870543922
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-1MEF
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-269421
- **FILM NUMBER:** 23553954

**BUSINESS ADDRESS:**
- **STREET 1:** 712 VISTA BLVD #305
- **CITY:** WACONIA
- **STATE:** MN
- **ZIP:** 55387
- **BUSINESS PHONE:** 9524791196

**MAIL ADDRESS:**
- **STREET 1:** 712 VISTA BLVD #305
- **CITY:** WACONIA
- **STATE:** MN
- **ZIP:** 55387

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Sun BioPharma, Inc.
- **DATE OF NAME CHANGE:** 20150911

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Cimarron Medical, Inc.
- **DATE OF NAME CHANGE:** 20150602

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CIMARRON SOFTWARE INC
- **DATE OF NAME CHANGE:** 19961217

As filed with the Securities and Exchange Commission on January 26, 2023

**Registration No.** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**<br> **Washington, D.C. 20549**

**Form S-1**

**REGISTRATION STATEMENT**<br> **UNDER**<br> **THE SECURITIES ACT OF 1933**

## PANBELA THERAPEUTICS, INC.
*(Exact name of registrant as specified in its charter)*

---

| | | |
|:---|:---|:---|
| **Delaware**<br> *(State or other jurisdiction of*<br> *incorporation or organization)*  | **2834**<br> *(Primary Standard Industrial*<br> *Classification Code Number)*  | **88-2805017**<br> *(I.R.S. Employer*<br> *Identification No.)*  |

---

**712 Vista Blvd, Suite 305**<br> **Waconia, Minnesota 55387**<br> **(952) 479-1196**<br> *(Address, including zip code, and telephone number, including area code, of registrant*'*s principal executive offices)*

**Jennifer K. Simpson**<br> **Chief Executive Officer**<br> **712 Vista Blvd, Suite 305**<br> **Waconia, Minnesota 55387**<br> **(952) 479-1196** <br> *(Name, address, including zip code, and telephone number, including area code, of agent for service)*

***Copies to:***

---

| | |
|:---|:---|
| **W. Morgan Burns**<br> **Joshua L. Colburn**<br> **Faegre Drinker Biddle & Reath LLP**<br> 90 South Seventh Street<br> 2200 Wells Fargo Center<br> Minneapolis, Minnesota 55402-3901<br> Telephone: (612) 766-7000 | **M. Ali Panjwani**<br> **Michael T. Campoli**<br> **Pryor Cashman LLP**<br> 7 Times Square<br> New York, New York 10036<br> Phone: (212) 421-4100 |

---

**Approximate date of commencement of proposed sale to the public:** As soon as practicable after the effective date of this registration statement.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended, check the following box. ☑

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☑ **333-268854**

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

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 ☐ <br> Non-accelerated filer ☑ Smaller reporting company ☑ <br> 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 to Section 7(a)(2)(B) of the Securities Act. ☐

**This Registration Statement shall become effective upon filing in accordance with Rule 462(b) under the Securities Act of 1933, as amended.**

------

**EXPLANATORY NOTE**

This Registration Statement is being filed by Panbela Therapeutics, Inc. (the "*Company*") pursuant to Rule 462(b) as promulgated under the Securities Act of 1933, as amended, and includes the registration statement facing page, this page, the signature page, an exhibit index and the required opinion and consents solely to register up to an aggregate of $6,731,250 in additional (i) shares of the Company's common stock, par value $0.001 per share (the "*common stock*"), (ii) pre-funded warrants to purchase shares of our common stock, (iii) warrants to purchase shares of our common stock (together with the pre-funded warrants, the "warrants") and (iv) shares of common stock issuable upon exercise of the Warrants. The contents of the Registration Statement on Form S-1 ([<u>Registration No. 333-268854</u>](http://www.sec.gov/Archives/edgar/data/1029125/999999999523000181/xslEFFECTX01/primary_doc.xml)), as amended, including the exhibits and powers of attorney included therein (the "*Prior Registration Statement*"), which was declared effective by the Securities and Exchange Commission on January 25, 2023, are incorporated by reference in this Registration Statement. The additional securities that are being registered for sale are in an amount and at a price that together represent no more than 20% of the maximum aggregate offering price set forth in Exhibit 107 to the Prior Registration Statement.

The required opinion and consents are listed on the Exhibit Index attached hereto and filed herewith.

------

**Item 16. Exhibits and Financial Statement Schedules.**

***(a) Exhibits***

---

| | |
|:---|:---|
| **Exhibit**<br> **No.** | **Description** |
| 5.1+ | [Opinion of Faegre Drinker Biddle & Reath LLP](ex_468432.htm) |
| 23.1+ | [Consent of Independent Registered Public Accounting Firm](ex_468433.htm) |
| 23.2+ | [Consent of Independent Public Accounting Firm](ex_468434.htm) |
| 23.3+ | [Consent of Faegre Drinker Biddle & Reath LLP (included in Exhibit 5.1)](ex_468432.htm) |
| 24.1 | [<u>Powers of Attorney</u>](http://www.sec.gov/Archives/edgar/data/1029125/000143774922029280/pbla20221215_s1.htm) (included in the signature page of the Prior Registration Statement) |
| 107+ | [Filing Fee Table](ex_468435.htm) |

---

+ Filed herewith.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Minneapolis, State of Minnesota on January 26, 2023.

---

| | |
|:---|:---|
| PANBELA THERAPEUTICS, INC. | PANBELA THERAPEUTICS, INC. |
| By: | /s/ Jennifer K. Simpson |
|  | Jennifer K. Simpson<br> *President and Chief Executive Officer* |

---

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/ Jennifer K. Simpson | *President and Chief Executive Officer*  | January 26, 2023 |
| Jennifer K. Simpson | *(Principal Executive Officer), and Director* |  |
| /s/ Susan Horvath | *Vice President of Finance, Chief Financial Officer, Treasurer*  | January 26, 2023 |
| Susan Horvath | *and Secretary (Principal Financial and Accounting Officer)* |  |
| \* | *Chair of the Board and Director* | January 26, 2023 |
| Michael T. Cullen |  |  |
| \* | *Director* | January 26, 2023 |
| Daniel J. Donovan |  |  |
| \* | *Director* | January 26, 2023 |
| Arthur J. Fratamico |  |  |
| \* | *Director* | January 26, 2023 |
| Jeffrey E. Jacob |  |  |
| \* | *Director* | January 26, 2023 |
| Jeffrey S. Mathiesen |  |  |
| \* | *Director* | January 26, 2023 |
| D. Robert Schemel |  |  |

---

\* Jennifer K. Simpson, by signing her name hereto, does hereby sign this document on behalf of each of the above-named directors of the registrant pursuant to powers of attorney duly executed by such persons.

---

| | |
|:---|:---|
| By:  | /s/ Jennifer K. Simpson |
|  | Jennifer K. Simpson |
|  | *Attorney-in-Fact* |

---

## Exhibit 5.1

**Exhibit 5.1**

---

| | |
|:---|:---|
| ![a1.jpg](a1.jpg) | faegredrinker.com<br>|
|  | **Faegre Drinker Biddle & Reath LLP**<br> 2200 Wells Fargo Center<br> 90 South Seventh Street<br> Minneapolis, Minnesota 55402<br> +1 612 766 7000 main<br> +1 612 766 1600 fax |

---

January 26, 2023

Panbela Therapeutics, Inc.

712 Vista Boulevard #305

Waconia, MN 55387

Ladies and Gentlemen:

We have acted as counsel to Panbela Therapeutics, Inc., a Delaware corporation (the "*Company*"), in connection with the registration of the offer and sale by the Company of up to a maximum aggregate offering price of up to $51,731,250, consisting of (a) shares (the "*Common Stock Shares*") of the Company's common stock, par value $0.001 per share (the "*Common Stock*"), or pre-funded warrants to purchase shares of Common Stock (the "*Pre-Funded Warrants*"), (b) warrants to purchase shares of Common Stock (the "*Common Warrants*" and, together with the Pre-Funded Warrants, the "*Warrants*") and (c) shares of Common Stock issuable from time to time upon the exercise of the Warrants (the "*Warrant Shares*" and, together with the Warrants and the Common Stock Shares, the "*Securities*"), in each case pursuant to the Registration Statement on Form S-1, as amended (File No. 333-268854) (the "*Form S-1 Registration Statement*"), and the registration statement pursuant to Rule 462(b) (the "*Rule 462(b) Registration Statement*", and together with the Form S-1 Registration Statement, the "*Registration Statements*"), each filed by the Company with the Securities and Exchange Commission (the "*Commission*") under the Securities Act of 1933, as amended (the "*Act*"), including a related prospectus filed with the Form S-1 Registration Statement (the "*Prospectus*"). The Securities are to be sold by the Company as described in the Registration Statements and the Prospectus.

This opinion letter is being delivered in accordance with the requirements of Item 601(b)(5) of Regulation S-K.

In this capacity, we have examined originals or copies, certified or otherwise identified to our satisfaction, of such documents, corporate records and other instruments as we have deemed necessary for the purposes of this opinion, including (i) the Registration Statements and Prospectus, (ii) the Placement Agency Agreement by and between Roth Capital Partners, LLC and the Company, a form of which was filed as Exhibit 10.34 to the Form S-1 Registration Statement (the "*Placement Agreement*"), (iii) the form of Securities Purchase Agreement between the Company and each purchaser to be identified on the signature pages thereto, filed as Exhibit 10.33 to the Form S-1 Registration Statement (the "*Purchase Agreement*"), (iv) the form of Common Warrant and the form of Pre-Funded Warrant filed as Exhibit 4.12 and Exhibit 4.13, respectively, to the Form S-1 Registration Statement, (v) the form of Warrant Agency Agreement filed as Exhibit 4.11 to the Form S-1 Registration Statement (the "*Warrant Agreement*"), (vi) the Company's Restated Certificate of Incorporation, as amended to date, in the form filed as Exhibit 3.1 to the Form S-1 Registration Statement, (vii) the Company's Bylaws, as amended to date, in the form filed as Exhibit 3.2 to the Form S-1 Registration Statement, and (viii) the corporate proceedings of the Company taken to date. We have also examined such authorities of law as we have deemed relevant as a basis for our opinions hereinafter set forth.

In rendering the opinions set forth below, we have assumed, without investigation, (i) the legal capacity of each natural person signing any of the documents and corporate records examined by us, (ii) the genuineness of all signatures, including electronic signatures, appearing upon the documents submitted to us for review, (iii) the authenticity of documents submitted to us as originals, (iv) the conformity to authentic original documents of documents submitted to us as copies, (v) the truth, accuracy and completeness of all corporate records and other documents and information made available to us by the Company, (vi) the absence of any undisclosed modifications to the agreements and instruments reviewed by us, and (viii) that each party to the Placement Agreement, the Purchase Agreement and the Warrant Agreement (other than the Company) will have duly authorized, executed and delivered such agreements or instruments and complied with all legal requirements pertaining to its status as such status relates to the right to enforce such agreements or instruments against the Company and will have satisfied those legal requirements applicable to it to the extent necessary to make such agreements or instruments enforceable against it. We have not independently established or verified any facts relevant to the opinions expressed herein, but have relied upon certificates, statements and representations of officers and other representatives of the Company, public officials and others as to factual matters.

------

- 2 - January 26, 2023

Based upon and subject to the foregoing qualifications, assumptions and limitations and the further limitations set forth below, we are of the opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Upon payment therefor and issuance and delivery thereof in accordance with the Placement Agreement and the Purchase Agreement, including the book entry registration and issuance thereof by the Company's transfer agent and registrar, the Common Stock Shares will be validly issued, fully paid and non-assessable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Provided that (a) the Warrants have been duly executed and delivered by the Company to the purchasers thereof against payment therefor in accordance with and as provided in the Placement Agreement, the Purchase Agreement, the Registration Statements and the Prospectus, the Warrants will be valid and binding obligations of the Company, except as the same may be limited by applicable bankruptcy, insolvency, voidable transactions, fraudulent conveyance, fraudulent transfer, reorganization, moratorium, assignment for the benefit of creditors and other laws now or hereafter in effect relating to or affecting creditors' rights generally and equitable principles of general applicability (regardless of whether considered in a proceeding in equity or at law).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Following (i) execution and delivery by the Company of the Warrants pursuant to the terms of the Placement Agreement and the Purchase Agreement, (ii) receipt by the Company of the consideration for the Warrants specified in the Placement Agreement, and (iii) exercise of the Warrants pursuant to their terms, receipt by the Company of the exercise price for the Warrant Shares as specified in the Warrants and issuance by the Company of the Warrant Shares thereunder, including the book entry registration and issuance thereof by the Company's transfer agent and registrar, the Warrant Shares will be validly issued, fully paid, and nonassessable.

Without limiting any other qualifications set forth herein, the opinion expressed herein regarding the enforceability of the Warrants is subject to the effect of generally applicable laws that (i) provide for the enforcement of oral waivers or modifications where a material change of position in reliance thereon has occurred or provide that a course of performance may operate as a waiver; (ii) limit the availability of a remedy under certain circumstances where another remedy has been elected; (iii) limit the enforceability of provisions releasing, exculpating or exempting a party from, or requiring indemnification of or contribution to a party for, liability for its own action or inaction, to the extent the action or inaction involves negligence, recklessness, willful misconduct or unlawful conduct or insofar as such provisions otherwise contravene public policy; (iv) may, where less than all of a contract may be unenforceable, limit the enforceability of the balance of the contract to circumstances in which the unenforceable portion is not an essential part of the agreed exchange; (v) govern and afford judicial discretion regarding the determination of damages and entitlement to attorneys' fees and other costs; (vi) may permit a party who has materially failed to render or offer performance required by a contract to cure that failure unless either permitting a cure would unreasonably hinder the aggrieved party from making substitute arrangements for performance or it is important under the circumstances to the aggrieved party that performance occur by the date stated in the contract; (vii) may limit the enforceability of provisions for the payment of premiums upon mandatory prepayment to the extent any such payment constitutes, or is deemed to constitute, a penalty or forfeiture; (viii) may require mitigation of damages; (ix) provide a time limitation after which a remedy may not be enforced (i.e., statutes of limitation); and (x) limit the enforceability of provisions of instruments or agreements that purport to require waiver of the obligations of good faith, fair dealing, diligence and reasonableness.

We express no opinion as to the enforceability or effect in the Warrants of (i) any agreement to submit to the jurisdiction of any particular court or other governmental authority (either as to personal jurisdiction or subject matter jurisdiction), any provision restricting access to courts (including, without limitation, agreements to arbitrate disputes), any waivers of the right to jury trial, any waivers of service of process requirements that would otherwise be applicable, any agreement that a judgment rendered by a court in one jurisdiction may be enforced in another jurisdiction, or any provision otherwise affecting the jurisdiction or venue of courts; (ii) any provision waiving legal, statutory or equitable defenses or other procedural, judicial or substantive rights; or (iii) any provision that authorizes one party to act as attorney-in-fact for another party.

------

- 3 - January 26, 2023

With respect to our opinion regarding the Warrant Shares, we express no opinion to the extent that, notwithstanding the Company's current reservation of the maximum number of Warrant Shares as of the date hereof, future issuances of securities of the Company, including the Warrant Shares, and/or antidilution adjustments to outstanding securities of the Company, including the Warrants, may cause the Warrants to be exercisable for more shares of Common Stock than the number that then remain authorized but unissued. Further, we have assumed the Exercise Price (as defined in the Warrants) will not be adjusted to an amount below the par value per share of the Warrant Shares.

This opinion is limited to the General Corporation Law of the State of Delaware and, solely with respect to opinion paragraph 2, the laws of the State of New York. We express no opinion as to any other matters, including without limitation any matters relating to the securities or blue sky laws of any jurisdiction or any rules or regulations thereunder, and no opinion may be inferred or implied beyond that expressly stated herein. In addition, we express no opinion as to whether, or the extent to which, the laws of any particular jurisdiction apply to the subject matter hereof, including, without limitation, the enforceability of the governing law provision contained in the Warrants.

We hereby consent to the filing of this opinion letter with the Commission as Exhibit 5.1 to the Rule 462(b) Registration Statement. In giving this consent, we do not hereby admit that we come within the categories of persons whose consent is required under Section 7 of the Act or under the rules and regulations of the Commission issued thereunder.

This opinion letter is given as of the date hereof, and we assume no responsibility for updating this opinion letter or the opinions or statements set forth herein to take into account any event, action, interpretation or change in facts or law occurring subsequent to the date hereof that may affect the validity of any of such opinions or statements.

---

| | |
|:---|:---|
| Very truly yours,<br>FAEGRE DRINKER BIDDLE & REATH LLP | Very truly yours,<br>FAEGRE DRINKER BIDDLE & REATH LLP |
| By | /s/ Joshua L. Colburn |
|  | Joshua L. Colburn, Partner |

---

## Exhibit 23.1

**Exhibit 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We hereby consent to the incorporation in this Registration Statement on Form S-1 of our report dated March 24, 2022, relating to the consolidated financial statements of Panbela Therapeutics, Inc. and Subsidiary (the "Company") appearing in the Annual Report on Form 10-K of the Company for the years ended December 31, 2021 and 2020.

/s/ Cherry Bekaert LLP

Tampa, Florida

January 26, 2023

## Exhibit 23.2

**Exhibit 23.2**

**CONSENT OF INDEPENDENT PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in this Registration Statement on Form S-1 and related prospectus of our report dated March 22, 2022, with respect to the consolidated financial statements of Cancer Prevention Pharmaceuticals, Inc. (the "Company") as of December 31, 2021 and 2020 and for the two years then ended (which report includes an explanatory paragraph regarding the existence of substantial doubt about the Company's ability to continue as a going concern).

/s/ Mayer Hoffman McCann P.C.

San Diego, CA

January 26, 2023

## Ex-Filing

Exhibit 107

**Calculation of Filing Fee Tables**

**Form S-1**

(Form Type)

**Panbela Therapeutics, Inc.**

(Exact Name of Registrant as Specified in its Charter)

**Table 1: Newly Registered and Carry Forward Securities**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Security Type** | **Security Class Title** | **Fee Calculation Rule** | **Amount Registered** | **Proposed Maximum Offering Price Per Unit** | **Maximum Aggregate Offering Price**<br> **<sup>(1)(2)</sup>** | **Fee Rate** | **Amount of Registration Fee** |
| Fees to be Paid | Equity | Common stock, $0.001 par value per share<sup>(3)</sup> | Rule 457(o) |  |  | $18750<sup>(4)</sup> | 0.00011020 | $3 |
|  | Equity | Common warrants<sup>(5)</sup> | Other |  |  |  |  |  |
|  | Equity | Common stock, $0.001 par value per share, underlying common warrants | Rule 457(o) |  |  | $6712500 | 0.00011020 | $740 |
|  | Equity | Pre-funded warrants<sup>(4)</sup> | Other |  |  |  | – |  |
|  | Equity | Common stock, $0.001 par value per share, underlying pre-funded warrants | Rule 457(o) |  |  |  |  |  |
|  | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  |  | $6731250 |  | $743 |
|  | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** |  |  |  |  | – |
|  | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** |  |  |  |  | – |
|  | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  |  | $743 |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;(1) Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(o) of the Securities Act of 1933, as amended (the "Securities Act").

&nbsp;&nbsp;&nbsp;&nbsp;(2) The registrant previously registered securities with a proposed maximum aggregate offering price not to exceed $45,000,000 on a registration statement on Form S-1, as amended ([File No. 333-268854](http://www.sec.gov/Archives/edgar/data/1029125/999999999523000181/xslEFFECTX01/primary_doc.xml)), which was declared effective by the Securities and Exchange Commission on January 25, 2023. In accordance with Rule 462(b) under the Securities Act, an additional amount of securities having a proposed maximum aggregate offering price of $6,731,250 is hereby registered.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Pursuant to Rule 416 under the Securities Act, the shares of common stock registered hereby also include an indeterminate number of additional shares of common stock as may from time to time become issuable by reason of stock split, stock dividends, recapitalizations, or other similar transactions.

&nbsp;&nbsp;&nbsp;&nbsp;(4) The proposed maximum aggregate offering price of the common stock will be reduced on a dollar-for-dollar basis based on the offering price of any pre-funded warrants issued in the offering, and the proposed maximum aggregate offering price of the pre-funded warrants to be issued in the offering will be reduced on a dollar-for-dollar basis based on the offering price of any common stock issued in the offering. Accordingly, the proposed maximum aggregate offering price of the common stock, common warrants and pre-funded warrants (including the common stock issuable upon exercise of the pre-funded warrants), if any, is $15,018,750.

&nbsp;&nbsp;&nbsp;&nbsp;(5) No fee pursuant to Rule 457(g) of the Securities Act.