Document:

EX-4.4

 Exhibit 4.4 

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE,
PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL (WHICH MAY BE COMPANY COUNSEL) REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS. 
 WARRANT AGREEMENT 

To Purchase Shares of the Series B Preferred Stock of 

DICERNA PHARMACEUTICALS, INC. 

Dated as of July 6, 2011 (the “Effective Date”) 

WHEREAS, DICERNA PHARMACEUTICALS, INC., a Delaware corporation (the “Company”), has entered into a Loan and Security
Agreement of even date herewith (the “Loan Agreement”) with Hercules Technology II, L.P., a Delaware limited partnership (the “Warrantholder”); 

WHEREAS, the Company desires to grant to Warrantholder, in consideration for, among other things, the financial accommodations provided for in
the Loan Agreement, the right to purchase shares of its Series B Preferred Stock pursuant to this Warrant Agreement (the “Agreement”); 

NOW, THEREFORE, in consideration of the Warrantholder executing and delivering the Loan Agreement and providing the financial accommodations
contemplated therein, and in consideration of the mutual covenants and agreements contained herein, the Company and Warrantholder agree as follows: 

SECTION 1. GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. 

For value received, the Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the
conditions hereinafter set forth, to subscribe for and purchase, from the Company, such number of shares of fully paid and non-assessable shares of the Preferred Stock (as defined below) in accordance with Section 3(a) below. The number and
Exercise Price of such shares are subject to adjustment as provided in Section 8. As used herein, the following terms shall have the following meanings: 

“Act” means the Securities Act of 1933, as amended. 

“Charter” means the Company’s Articles of Incorporation, Certificate of Incorporation or other constitutional document,
as may be amended from time to time. 
 “Common Stock” means the Company’s common stock; 

  
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 “Exercise Price” means $1.00, as adjusted in accordance with this Warrant; 

“Initial Public Offering” means the initial underwritten public offering of the Company’s Common Stock pursuant to a
registration statement under the Act, which public offering has been declared effective by the Securities and Exchange Commission (“SEC”); 

“Joinder Agreement” means that certain Joinder Agreement by and between the Company and the Warrant Holder dated as of the
date hereof. 
 “Merger Event” means a merger or consolidation involving the Company in which the Company is not the
surviving entity, or in which the outstanding shares of the Company’s capital stock are otherwise converted into or exchanged for shares of capital stock of another entity. 

“Preferred Stock” means the Series B Preferred Stock of the Company and any other stock into or for which the Series B
Preferred Stock may be converted or exchanged, and upon and after the occurrence of an event which results in the automatic or voluntary conversion, redemption or retirement of all (but not less than all) of the outstanding shares of such Preferred
Stock, including, without limitation, the consummation of an Initial Public Offering of the Common Stock in which such a conversion occurs, then from and after the date upon which such outstanding shares are so converted, redeemed or retired,
“Preferred Stock” shall mean such Common Stock; and 
 “Purchase Price” means, with respect to any exercise of
this Agreement, an amount equal to the Exercise Price as of the relevant time multiplied by the number of shares of Preferred Stock requested to be exercised under this Agreement pursuant to such exercise. 

“Stockholders Agreement” means that certain Amended and Restated Stockholders Agreement between the Company and certain of its
shareholders dated July 8, 2008. 
 SECTION 2. TERM OF THE AGREEMENT. 

Except as otherwise provided for herein, the term of this Agreement and the right to purchase Preferred Stock as granted herein (the
“Warrant) shall commence on the Effective Date and shall be exercisable for a period ending upon the earlier to occur of (i) ten (10) years from the Effective Date; or (ii) three (3) years after the Initial Public Offering.

 SECTION 3. NUMBER OF SHARES; EXERCISE OF THE PURCHASE RIGHTS. 

(a) Number of Shares. On the Effective Date, the total aggregate number of Shares for which this Warrant shall be exercisable (subject
to further adjustment from time to time in accordance with the provisions of this Warrant) shall be 396,000; provided, however, that in the event that the Company requests an additional Second Term Loan Advance after the Effective Date, then the
total aggregate number of Shares for which this Warrant shall be exercisable ((subject to further adjustment from time to time in accordance with the provisions of this Warrant) shall be 660,000. 

  
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 (b) Exercise. The purchase rights set forth in this Agreement are exercisable by the
Warrantholder, in whole or in part, at any time, or from time to time, prior to the expiration of the term set forth in Section 2, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as
Exhibit I (the “Notice of Exercise”), duly completed and executed. Promptly upon receipt of the Notice of Exercise and the payment of the Purchase Price in accordance with the terms set forth below, and in no event later than
three (3) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of shares of Preferred Stock purchased and shall execute the acknowledgment of exercise in the form attached hereto as Exhibit II (the
“Acknowledgment of Exercise”) indicating the number of shares which remain subject to future purchases, if any. 
 The
Purchase Price may be paid at the Warrantholder’s election either (i) by wire transfer or (ii) by surrender of all or a portion of the Warrant for shares of Preferred Stock to be exercised under this Agreement and, if applicable, an
amended Agreement representing the remaining number of shares purchasable hereunder, as determined below (“Net Issuance”). If the Warrantholder 

			
	elects the Net Issuance method, the Company will issue Preferred Stock in accordance with the following formula:	 	X = Y(A-B)
		 	            A

  

					
	Where:	 	X =	 	the number of shares of Preferred Stock to be issued to the Warrantholder.
			
		 		 	 Y = the number of shares of Preferred Stock requested to be exercised under this Agreement.

			
		 		 	 A = the fair market value of one (1) share of Preferred Stock at the time of issuance of such shares of Preferred Stock.

			
		 	B =	 	the Exercise Price.

 For purposes of the above calculation, current fair market value of Preferred Stock shall mean with respect to
each share of Preferred Stock: 
 (i) if the exercise is in connection with an Initial Public Offering, and if the
Company’s Registration Statement relating to such Initial Public Offering has been declared effective by the SEC, then the fair market value per share shall be the product of (x) the initial “Price to Public” of the Common Stock
specified in the final prospectus with respect to the offering and (y) the number of shares of Common Stock into which each share of Preferred Stock is convertible at the time of such exercise; 

(ii) if the exercise is after, and not in connection with an Initial Public Offering, and: 

(A) if the Common Stock is traded on a securities exchange, the fair market value shall be deemed to be the product of
(x) the average of the closing prices over a five (5) day period ending three days before the day the current fair market value of the securities is being determined and (y) the number of shares of Common Stock into which each share
of Preferred Stock is convertible at the time of such exercise; or 

  
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 (B) if the Common Stock is traded over-the-counter, the fair market value shall
be deemed to be the product of (x) the average of the closing bid and asked prices quoted on the NASDAQ system (or similar system) over the five (5) day period ending three days before the day the current fair market value of the
securities is being determined and (y) the number of shares of Common Stock into which each share of Preferred Stock is convertible at the time of such exercise; 

(iii) if at any time the Common Stock is not listed on any securities exchange or quoted in the NASDAQ National Market or the
over-the-counter market, the current fair market value of Preferred Stock shall be the product of (x) the highest price per share which the Company could obtain from a willing buyer (not a current employee or director) for shares of Common
Stock sold by the Company, from authorized but unissued shares, as determined in good faith by its Board of Directors and (y) the number of shares of Common Stock into which each share of Preferred Stock is convertible at the time of such
exercise, unless the Company shall become subject to a Merger Event, in which case the fair market value of Preferred Stock shall be deemed to be the per share value received by the holders of the Company’s Preferred Stock on a common
equivalent basis pursuant to such Merger Event. 
 Upon partial exercise by either cash or Net Issuance, the Company shall promptly issue an
amended Agreement representing the remaining number of shares purchasable hereunder. All other terms and conditions of such amended Agreement shall be identical to those contained herein, including, but not limited to the Effective Date hereof. 

(c) Exercise Prior to Expiration. To the extent this Agreement is not previously exercised as to all Preferred Stock subject hereto,
and if the fair market value of one share of the Preferred Stock is greater than the Exercise Price then in effect, this Agreement shall be deemed automatically exercised pursuant to Section 3(a) (even if not surrendered) immediately before its
expiration. For purposes of such automatic exercise, the fair market value of one share of the Preferred Stock upon such expiration shall be determined pursuant to Section 3(a). To the extent this Agreement or any portion thereof is deemed
automatically exercised pursuant to this Section 3(b), the Company agrees to promptly notify the Warrantholder of the number of shares of Preferred Stock, if any, the Warrantholder is to receive by reason of such automatic exercise. 

SECTION 4. RESERVATION OF SHARES. 

During the term of this Agreement, the Company will at all times have authorized and reserved a sufficient number of shares of its Preferred
Stock to provide for the exercise of the rights to purchase Preferred Stock as provided for herein, and shall have authorized and reserved a sufficient number of shares of its Common Stock to provide for the conversion of the Preferred Shares
available hereunder. 
 SECTION 5. NO FRACTIONAL SHARES OR SCRIP. 

No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Agreement, but in lieu of such
fractional shares the Company shall make a cash payment therefor upon the basis of the Exercise Price then in effect. 

  
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 SECTION 6. NO RIGHTS AS SHAREHOLDER/STOCKHOLDER. 

This Agreement does not entitle the Warrantholder to any voting rights or other rights as a shareholder/stockholder of the Company prior to
the exercise of this Agreement. 
 SECTION 7. WARRANTHOLDER REGISTRY. 

The Company shall maintain a registry showing the name and address of the registered holder of this Agreement. Warrantholder’s initial
address, for purposes of such registry, is set forth below Warrantholder’s signature on this Agreement. Warrantholder may change such address by giving written notice of such changed address to the Company. 

SECTION 8. ADJUSTMENT RIGHTS. 
 The
Exercise Price and the number of shares of Preferred Stock purchasable hereunder are subject to adjustment, as follows: 
 (a) Merger
Event. If at any time there shall be Merger Event, then, as a part of such Merger Event, lawful provision shall be made so that the Warrantholder shall thereafter be entitled to receive, upon exercise of this Agreement, the number of shares of
preferred stock or other securities or property of the successor corporation resulting from such Merger Event that would have been issuable if Warrantholder had exercised this Agreement immediately prior to the Merger Event. In any such case,
appropriate adjustment (as determined in good faith by the Company’s Board of Directors) shall be made in the application of the provisions of this Agreement with respect to the rights and interests of the Warrantholder after the Merger Event
to the end that the provisions of this Agreement (including adjustments of the Exercise Price and number of shares of Preferred Stock purchasable) shall be applicable in their entirety, and to the greatest extent possible. Without limiting the
foregoing, in connection with any Merger Event, upon the closing thereof, the successor or surviving entity shall assume the obligations of this Agreement. In connection with a Merger Event and upon Warrantholder’s written election to the
Company, the Company shall cause this Warrant Agreement to be exchanged for the consideration that Warrantholder would have received if Warrantholder chose to exercise its right to have shares issued pursuant to the Net Issuance provisions of this
Warrant Agreement without actually exercising such right, acquiring such shares and exchanging such shares for such consideration 
 (b)
Reclassification of Shares. Except as set forth in Section 8(a), if the Company at any time shall, by combination, reclassification, exchange or subdivision of securities or otherwise, change any of the securities as to which purchase
rights under this Agreement exist into the same or a different number of securities of any other class or classes, this Agreement shall thereafter represent the right to acquire such number and kind of securities as would have been issuable as the
result of such change with respect to the securities which were subject to the purchase rights under this Agreement immediately prior to such combination, reclassification, exchange, subdivision or other change. 

  
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 (c) Subdivision or Combination of Shares. If the Company at any time shall combine or
subdivide its Preferred Stock, (i) in the case of a subdivision, the Exercise Price shall be proportionately decreased, and the number of shares of Preferred Stock issuable upon exercise of this Agreement shall be proportionately increased, or
(ii) in the case of a combination, the Exercise Price shall be proportionately increased, and the number of shares of Preferred Stock issuable upon the exercise of this Agreement shall be proportionately decreased. 

(d) Stock Dividends. If the Company at any time while this Agreement is outstanding and unexpired shall: 

(i) pay a dividend with respect to the Preferred Stock payable in Preferred Stock, then the Exercise Price shall be adjusted,
from and after the date of determination of stockholders entitled to receive such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to such date of determination by a fraction
(A) the numerator of which shall be the total number of shares of Preferred Stock outstanding immediately prior to such dividend or distribution, and (B) the denominator of which shall be the total number of shares of Preferred Stock
outstanding immediately after such dividend or distribution; or 
 (ii) make any other distribution with respect to Preferred
Stock (or stock into which the Preferred Stock is convertible), except any distribution specifically provided for in any other clause of this Section 8, then, in each such case, provision shall be made by the Company such that the Warrantholder
shall receive upon exercise or conversion of this Warrant a proportionate share of any such distribution as though it were the holder of the Preferred Stock (or other stock for which the Preferred Stock is convertible) as of the record date fixed
for the determination of the stockholders of the Company entitled to receive such distribution. 
 (e) Antidilution Rights. The
antidilution rights applicable to the Preferred Stock purchasable hereunder are as set forth in the Company’s Charter. The Company shall promptly provide the Warrantholder with any restatement, amendment, modification or waiver of the Charter;
provided, that no such amendment, modification or waiver shall impair or reduce the antidilution rights applicable to the Preferred Stock as of the date hereof unless such amendment, modification or waiver affects the rights of Warrantholder
with respect to the Preferred Stock in the same manner as it affects all other holders of Preferred Stock. The Company shall provide the Warrant Holder with prior written notice of any antidilution adjustment to the Preferred Stock at the same time
as such notice is provided to the holders of outstanding shares of Preferred Stock. 
 (f) Notice of Adjustments. If: (i) the
Company shall declare any dividend or distribution upon its stock, whether in stock, cash, property or other securities (assuming Warrantholder consents to a dividend involving cash, property or other securities); (ii) there shall be any Merger
Event; (iii) there shall be an Initial Public Offering; (iv) the Company shall sell, lease, license or otherwise transfer all or substantially all of its assets; or (v) there shall be any voluntary dissolution, liquidation or winding
up of the Company; then, in connection with each such event, the Company shall send to the Warrantholder: (A) at least twenty (20) days’ prior written notice of the date on which the books of the Company shall close or a record shall
be 

  
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taken for such dividend or distribution (specifying the date on which the holders of Preferred Stock shall be entitled thereto) or for determining rights to vote in respect of such Merger Event,
dissolution, liquidation or winding up; (B) in the case of any such Merger Event, sale, lease, license or other transfer of all or substantially all assets, dissolution, liquidation or winding up, at least twenty (20) days’ prior
written notice of the date when the same shall take place (and specifying the date on which the holders of Preferred Stock shall be entitled to exchange their Preferred Stock for securities or other property deliverable upon such Merger Event,
dissolution, liquidation or winding up); and (C) in the case of an Initial Public Offering, the Company shall give the Warrantholder at least ten (10) days’ written notice prior to the effective date thereof. 

Each such written notice shall set forth, in reasonable detail, (i) the event requiring the notice, and (ii) if any adjustment is
required to be made, (A) the amount of such adjustment, (B) the method by which such adjustment was calculated, (C) the adjusted Exercise Price (if the Exercise Price has been adjusted), and (D) the number of shares subject to
purchase hereunder after giving effect to such adjustment, and shall be given by first class mail, postage prepaid, or by reputable overnight courier with all charges prepaid, addressed to the Warrantholder at the address for Warrantholder set forth
in the registry referred to in Section 7. 
 (g) Timely Notice. Failure to timely provide such notice required by
subsection (f) above shall entitle Warrantholder to retain the benefit of the applicable notice period notwithstanding anything to the contrary contained in any insufficient notice received by Warrantholder. For purposes of this
subsection (g), and notwithstanding anything to the contrary in Section 12(g), the notice period shall begin on the date Warrantholder actually receives a written notice containing all the information required to be provided in such
subsection (f). 
 SECTION 9. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY. The Company hereby makes the representations, warranties
and covenants as set forth below. For the avoidance of doubt, all representations and warranties made by the Company hereunder are made only as of the date of this Agreement. 

(a) Reservation of Preferred Stock. The Preferred Stock issuable upon exercise of the Warrantholder’s rights has been duly and
validly reserved and, when issued in accordance with the provisions of this Agreement, will be validly issued, fully paid and non-assessable, and will be free of any taxes, liens, charges or encumbrances of any nature whatsoever; provided,
that the Preferred Stock issuable pursuant to this Agreement may be subject to restrictions on transfer under state and/or federal securities laws. The Company has made available to the Warrantholder true, correct and complete copies of its Charter
and current bylaws. The issuance of certificates for shares of Preferred Stock upon exercise of this Agreement shall be made without charge to the Warrantholder for any issuance tax in respect thereof, or other cost incurred by the Company in
connection with such exercise and the related issuance of shares of Preferred Stock; provided, that the Company shall not be required to pay any tax which may be payable in respect of any transfer and the issuance and delivery of any
certificate in a name other than that of the Warrantholder. 
 (b) Due Authority. The execution and delivery by the Company of this
Agreement and the performance of all obligations of the Company hereunder, including the issuance to Warrantholder of the right to acquire the shares of Preferred Stock and the Common Stock into 

  
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which it may be converted, have been duly authorized by all necessary corporate action on the part of the Company. This Agreement: (1) is not inconsistent with the Company’s Charter or
current bylaws; (2) does not contravene any law or governmental rule, regulation or order applicable to it; and (3) does not and will not contravene any provision of, or constitute a default under, any indenture, mortgage, contract or
other instrument to which it is a party or by which it is bound. This Agreement constitutes a legal, valid and binding agreement of the Company, enforceable in accordance with its terms. 

(c) Consents and Approvals. No consent or approval of, giving of notice to, registration with, or taking of any other action in respect
of any state, federal or other governmental authority or agency is required with respect to the execution, delivery and performance by the Company of its obligations under this Agreement, except for the filing of notices pursuant to Regulation D
under the Act and any filing required by applicable state securities law, which filings will be effective by the time required thereby. 

(d) Issued Securities. All issued and outstanding shares of Common Stock, Preferred Stock or any other securities of the Company have
been duly authorized and validly issued and are fully paid and nonassessable. All outstanding shares of Common Stock, Preferred Stock and any other securities were issued in full compliance with all federal and state securities laws. In addition, as
of the date immediately preceding the date of this Agreement: 
 (i) The authorized capital of the Company consists of
(A) 70,929,220 shares of Common Stock, of which 6,317,967 shares are issued and outstanding, and (B) 51,075,628 shares of Preferred Stock, of which 50,450,628 shares are issued and outstanding and are convertible into 50,450,628 shares of
Common Stock at $1.00 per share. 
 (ii) The Company has reserved an aggregate of 3,740,000 shares of Common Stock for
issuance under the Dicerna Pharmaceuticals, Inc. 2010 Employee, Director and Consultant Equity Incentive Plan (the “2010 Stock Option Plan”), subject to adjustment in accordance with the terms of the 2010 Stock Option Plan, plus any shares
of Common Stock represented by awards under the Dicerna Pharmaceuticals, Inc. 2007 Employee, Director and Consultant Stock Plan, (the “2007 Stock Option Plan”) that are forfeited, expire or are cancelled without delivery of shares of
Common Stock or which result in the forfeiture of shares of Common Stock back to the Corporation on or after October 14, 2010; provided, however that no more than 11,303,592 shares of Common Stock shall be issued under the 2010 Stock Option
Plan. Under the 2010 Stock Option Plan, 3,635,406 options are currently outstanding and 50,000 shares of Restricted Common Stock have been issued under the 2010 Stock Option Plan. Under the 2007 Stock Option Plan, 7,505,000 options are currently
outstanding. 
 (iii) Other than as set forth in the Stockholders Agreement, no stockholder of the Company has preemptive
rights to purchase new issuances of the Company’s capital stock. 
 (e) Insurance. The Company has in full force and effect
insurance policies, with extended coverage, insuring the Company and its property and business against such losses and 

  
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risks, and in such amounts, as are customary for corporations engaged in a similar business and similarly situated and as otherwise may be required pursuant to the terms of any other contract or
agreements. 
 (f) Other Commitments to Register Securities. Except as set forth in this Agreement, the Company is not, pursuant to
the terms of any other agreement currently in existence, under any obligation to register under the Act any of its presently outstanding securities or any of its securities which may hereafter be issued. 

(g) Exempt Transaction. Subject to the accuracy of the Warrantholder’s representations in Section 10, the issuance of the
Preferred Stock upon exercise of this Agreement, and the issuance of the Common Stock upon conversion of the Preferred Stock, will each constitute a transaction exempt from (i) the registration requirements of Section 5 of the Act, in
reliance upon Section 4(2) thereof, and (ii) the qualification requirements of the applicable state securities laws. 
 (h)
Compliance with Rule 144. If the Warrantholder proposes to sell Preferred Stock issuable upon the exercise of this Agreement, or the Common Stock into which it is convertible, in compliance with Rule 144 promulgated by the SEC,
then, upon Warrantholder’s written request to the Company, the Company shall furnish to the Warrantholder, within ten days after receipt of such request, a written statement confirming the Company’s compliance with the filing requirements
of the SEC as set forth in such Rule, as such Rule may be amended from time to time 
 (i) Information Rights. At any time that the
Loan Agreement has ceased to be in effect, the Company shall deliver to Warrantholder the financial information and reports set forth in Sections 7.1(b) and (c) of the Loan Agreement, which provisions are incorporated into this Warrant.

 SECTION 10. REPRESENTATIONS AND COVENANTS OF THE WARRANTHOLDER. 

This Agreement has been entered into by the Company in reliance upon the following representations and covenants of the Warrantholder: 

(a) Investment Purpose. The right to acquire Preferred Stock or the Preferred Stock issuable upon exercise of the Warrantholder’s
rights contained herein will be acquired for investment and not with a view to the sale or distribution of any part thereof, and the Warrantholder has no present intention of selling or engaging in any public distribution of the same except pursuant
to a registration or exemption. 
 (b) Private Issue. The Warrantholder understands (i) that the Preferred Stock issuable upon
exercise of this Agreement is not registered under the Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this Agreement will be exempt from the registration and qualifications requirements
thereof, and (ii) that the Company’s reliance on such exemption is predicated on the representations set forth in this Section 10. 

  
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 (c) Financial Risk. The Warrantholder has such knowledge and experience in financial and
business matters as to be capable of evaluating the merits and risks of its investment, and has the ability to bear the economic risks of its investment. 

(d) Risk of No Registration. The Warrantholder understands that if the Company does not register with the SEC pursuant to
Section 12 of the Securities Exchange Act of 1934 (the “1934 Act”), or file reports pursuant to Section 15(d) of the 1934 Act, or if a registration statement covering the securities under the Act is not in effect when it
desires to sell (i) the rights to purchase Preferred Stock pursuant to this Agreement or (ii) the Preferred Stock issuable upon exercise of the right to purchase, it may be required to hold such securities for an indefinite period. The
Warrantholder also understands that any sale of (A) its rights hereunder to purchase Preferred Stock or (B) Preferred Stock issued or issuable hereunder which might be made by it in reliance upon Rule 144 under the Act may be made
only in accordance with the terms and conditions of that Rule. 
 (e) Accredited Investor. Warrantholder is an “accredited
investor” within the meaning of the Securities and Exchange Rule 501 of Regulation D, as presently in effect. 
 SECTION 11. TRANSFERS.

 This Agreement and all rights hereunder are transferable, in whole or in part, without charge to the holder hereof (except for transfer
taxes) upon surrender of this Agreement properly endorsed. All transfers shall be made in compliance with applicable federal and state securities laws. Each taker and holder of this Agreement, by taking or holding the same, consents and agrees that
this Agreement, when endorsed in blank, shall be deemed negotiable, and that the holder hereof, when this Agreement shall have been so endorsed and its transfer recorded on the Company’s books, shall be treated by the Company and all other
persons dealing with this Agreement as the absolute owner hereof for any purpose and as the person entitled to exercise the rights represented by this Agreement. The transfer of this Agreement shall be recorded on the books of the Company upon
receipt by the Company of a notice of transfer in the form attached hereto as Exhibit III (the “Transfer Notice”), at its principal offices and the payment to the Company of all transfer taxes and other governmental charges imposed
on such transfer. Until the Company receives such Transfer Notice, the Company may treat the registered owner hereof as the owner for all purposes. The Warrantholder may not transfer this Warrant to a Competitor. For purposes of this Agreement, a
“Competitor” shall be a third party who uses RNA interference to research, develop and commercialize human therapeutics. 
 SECTION 12.
MISCELLANEOUS. 
 (a) Effective Date. The provisions of this Agreement shall be construed and shall be given effect in all respects
as if it had been executed and delivered by the Company on the date hereof. This Agreement shall be binding upon any successors or assigns of the Company. 

(b) Remedies. In the event of any default hereunder, the non-defaulting party may proceed to protect and enforce its rights either by
suit in equity and/or by action at law, including but not limited to an action for damages as a result of any such default, and/or an action for specific performance for any default where Warrantholder will not have an adequate remedy at

  
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law and where damages will not be readily ascertainable. The Company expressly agrees that it shall not oppose an application by the Warrantholder or any other person entitled to the benefit of
this Agreement requiring specific performance of any or all provisions hereof or enjoining the Company from continuing to commit any such breach of this Agreement. 

(c) No Impairment of Rights. The Company will not, by amendment of its Charter or through any other means, avoid or seek to avoid the
observance or performance of any of the terms of this Agreement, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate in order to protect the rights
of the Warrantholder against impairment. 
 (d) Additional Documents. The Company shall also supply such other documents as the
Warrantholder may from time to time reasonably request. 
 (e) Attorney’s Fees. In any litigation, arbitration or court
proceeding between the Company and the Warrantholder relating hereto, the prevailing party shall be entitled to attorneys’ fees and expenses and all costs of proceedings incurred in enforcing this Agreement. For the purposes of this
Section 12(e), attorneys’ fees shall include without limitation fees incurred in connection with the following: (i) contempt proceedings; (ii) discovery; (iii) any motion, proceeding or other activity of any kind in
connection with an insolvency proceeding; (iv) garnishment, levy, and debtor and third party examinations; and (v) post-judgment motions and proceedings of any kind, including without limitation any activity taken to collect or enforce any
judgment. 
 (f) Severability. In the event any one or more of the provisions of this Agreement shall for any reason be held invalid,
illegal or unenforceable, the remaining provisions of this Agreement shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid, legal and enforceable provision, which comes closest to
the intention of the parties underlying the invalid, illegal or unenforceable provision. 
 (g) Notices. Except as otherwise provided
herein, any notice, demand, request, consent, approval, declaration, service of process or other communication that is required, contemplated, or permitted under this Agreement or with respect to the subject matter hereof shall be in writing, and
shall be deemed to have been validly served, given, delivered, and received upon the earlier of: (i) the day of transmission by facsimile or hand delivery if transmission or delivery occurs on a business day at or before 5:00 pm in the time
zone of the recipient, or, if transmission or delivery occurs on a non-business day or after such time, the first business day thereafter, or the first business day after deposit with an overnight express service or overnight mail delivery service;
or (ii) the third calendar day after deposit in the United States mails, with proper first class postage prepaid (provided, that any Advance Request shall not be deemed received until Lender’s actual receipt thereof), and shall be
addressed to the party to be notified as follows: 
 If to Warrantholder: 

HERCULES TECHNOLOGY II, L.P. 

Legal Department 
 Attention:
Chief Legal Officer and Manuel Henriquez 
 400 Hamilton Avenue, Suite 310 

Palo Alto, CA 94301 
 Facsimile:
650-473-9194 
 Telephone: 650-289-3060 

  
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 If to the Company: 

DICERNA PHARMACEUTICALS, INC. 

Attention: Douglas Fambrough, Ph.D., Chief Executive Officer 

480 Arsenal Street, Building 1 

Suite 120 
 Watertown, MA 02472

 Facsimile: 617-252-0927 

Telephone: 617-612-6200 
 With a
copy to: 
 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 

One Financial Center 
 Boston,
MA 02111 
 Facsimile: 617-542-2241 

Telephone: 617-542-6000 
 Attn:
John J. Cheney, Esq. 
 or to such other address as each party may designate for itself by like notice. A notice delivered to Company or Warrantholder in
accordance with this Agreement shall be valid despite the non-delivery of such notice to any Person who is not a party hereto. 
 (h)
Entire Agreement; Amendments. This Agreement, together with the Joinder Agreement, constitute the entire agreement and understanding of the parties hereto in respect of the subject matter hereof, and supersede and replace in their entirety
any prior proposals, term sheets, letters, negotiations or other documents or agreements, whether written or oral, with respect to the subject matter hereof (including Lender’s proposal letter dated January 21, 2009). None of the terms of
this Agreement may be amended except by an instrument executed by each of the parties hereto. 
 (i) Headings. The various headings
in this Agreement are inserted for convenience only and shall not affect the meaning or interpretation of this Agreement or any provisions hereof. 

  
 12 

 (j) Advice of Counsel. Each of the parties represents to each other party hereto that it
has discussed (or had an opportunity to discuss) with its counsel this Agreement and, specifically, the provisions of Sections 12(n), 12(o), 12(p). 12(q) and 12(r). 

(k) No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the
event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the
authorship of any provisions of this Agreement. 
 (l) No Waiver. No omission or delay by Warrantholder at any time to enforce any
right or remedy reserved to it, or to require performance of any of the terms, covenants or provisions hereof by the Company at any time designated, shall be a waiver of any such right or remedy to which Warrantholder is entitled, nor shall it in
any way affect the right of Warrantholder to enforce such provisions thereafter. 
 (m) Survival. All agreements, representations and
warranties contained in this Agreement or in any document delivered pursuant hereto shall be for the benefit of Warrantholder and shall survive the execution and delivery of this Agreement and the expiration or other termination of this Agreement.

 (n) Governing Law. This Agreement have been negotiated and delivered to Warrantholder in the State of California, and shall have
been accepted by Warrantholder in the State of California. Delivery of Preferred Stock to Warrantholder by the Company under this Agreement is due in the State of California. This Agreement shall be governed by, and construed and enforced in
accordance with, the laws of the State of California, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction. 

(o) Consent to Jurisdiction and Venue. All judicial proceedings arising in or under or related to this Agreement may be brought in any
state or federal court of competent jurisdiction located in the State of California. By execution and delivery of this Agreement, each party hereto generally and unconditionally: (a) consents to personal jurisdiction in Santa Clara County,
State of California; (b) waives any objection as to jurisdiction or venue in Santa Clara County, State of California; (c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and
(d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement. Service of process on any party hereto in any action arising out of or relating to this Agreement shall be effective if given in accordance
with the requirements for notice set forth in Section 12(g), and shall be deemed effective and received as set forth in Section 12(g). Nothing herein shall affect the right to serve process in any other manner permitted by law or shall
limit the right of either party to bring proceedings in the courts of any other jurisdiction. 
 (p) Mutual Waiver of Jury Trial.
Because disputes arising in connection with complex financial transactions are most quickly and economically resolved by an experienced and expert person and the parties wish applicable state and federal laws to apply (rather than arbitration
rules), the parties desire that their disputes be resolved by a judge applying such applicable laws. EACH OF THE COMPANY AND WARRANTHOLDER SPECIFICALLY 

  
 13 

 
WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY THE
COMPANY AGAINST WARRANTHOLDER OR ITS ASSIGNEE OR BY WARRANTHOLDER OR ITS ASSIGNEE AGAINST THE COMPANY. This waiver extends to all such Claims, including Claims that involve Persons other than Borrower and Lender; Claims that arise out of or are in
any way connected to the relationship between the Company and Warrantholder; and any Claims for damages, breach of contract, specific performance, or any equitable or legal relief of any kind, arising out of this Agreement. 

(q) Counterparts. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number of
counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument. 

(r) Specific Performance. The parties hereto hereby declare that it is impossible to measure in money the damages which will accrue to
Warrantholder by reason of the Company’s failure to perform any of the obligations under this Agreement and agree that the terms of this Agreement shall be specifically enforceable by Warrantholder. If Warrantholder institutes any action or
proceeding to specifically enforce the provisions hereof, any person against whom such action or proceeding is brought hereby waives the claim or defense therein that Warrantholder has an adequate remedy at law, and such person shall not offer in
any such action or proceeding the claim or defense that such remedy at law exists. 
 [Remainder of Page Intentionally Left Blank] 

  
 14 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by its officers
thereunto duly authorized as of the Effective Date. 
  

					
	COMPANY:	 	DICERNA PHARMACEUTICALS, INC.
			
		 	By	 	 /s/ Douglas Fambrough

			
		 	Title:	 	 CEO

		
		 	Notice Address:
		 	 Attention: Douglas Fambrough, Ph.D., Chief Executive Officer

480 Arsenal Street, Building 1
 Suite 120

Watertown, MA 02472
 Facsimile:

			
	WARRANTHOLDER:	 		 	
		
		 	HERCULES TECHNOLOGY II, L.P., a Delaware limited partnership
		
		 	By: Hercules Technology SBIC Management, LLC, its General Partner
		
		 	By: Hercules Technology Growth Capital, Inc., its Manager
			
		 	By	 	  

			
		 	Title:	 	  

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by its officers
thereunto duly authorized as of the Effective Date. 
  

					
	COMPANY:	 	DICERNA PHARMACEUTICALS, INC.
			
		 	By	 	  

			
		 	Title:	 	  

		
		 	Notice Address:
		 	 Attention: Douglas Fambrough, Ph.D., Chief Executive Officer

480 Arsenal Street, Building 1
 Suite 120

Watertown, MA 02472
 Facsimile:

			
	WARRANTHOLDER:	 		 	
		
		 	HERCULES TECHNOLOGY II, L.P., a Delaware limited partnership
		
		 	By: Hercules Technology SBIC Management, LLC, its General Partner
		
		 	By: Hercules Technology Growth Capital, Inc., its Manager
			
		 	By	 	 /s/ K. Nicholas Martitsch

			
		 	Title:	 	 Associate General Counsel

 EXHIBIT I 

NOTICE OF EXERCISE 
  

	To:	[                    ] 

  

	(1)	The undersigned Warrantholder hereby elects to purchase [            ] shares of the Series B Preferred Stock of DICERNA PHARMACEUTICALS, INC., pursuant to the
terms of the Agreement dated March 25, 2009 (the “Agreement”) between DICERNA PHARMACEUTICALS, INC. and the Warrantholder, and [CASH PAYMENT: tenders herewith payment of the Purchase Price in full, together with all applicable
transfer taxes, if any.] [NET ISSUANCE: elects pursuant to Section 3(a) of the Agreement to effect a Net Issuance.] 

  

	(2)	Please issue a certificate or certificates representing said shares of Series B Preferred Stock in the name of the undersigned or in such other name as is specified below. 

 

					
		 	  

		
		 	(Name)
		
		 	  

		
		 	(Address)
		
	WARRANTHOLDER:	 	HERCULES TECHNOLOGY II, L.P.
			
		 	By	 	  

			
		 	Title:	 	  

			
		 	Date:	 	  

 EXHIBIT II 

ACKNOWLEDGMENT OF EXERCISE 
 The undersigned
[                    ], hereby acknowledge receipt of the “Notice of Exercise” from Hercules Technology II, L.P., to purchase
[            ] shares of the Series B Preferred Stock of DICERNA PHARMACEUTICALS, INC. pursuant to the terms of the Agreement, and further acknowledges that
[            ] shares remain subject to purchase under the terms of the Agreement. 
  

					
	COMPANY:	 	DICERNA PHARMACEUTICALS, INC.
			
		 	By	 	  

			
		 	Title:	 	  

			
		 	Date:	 	  

 EXHIBIT III 

TRANSFER NOTICE 
 FOR VALUE RECEIVED, the
foregoing Agreement and all rights evidenced thereby are hereby transferred and assigned to 
  

 
 (Please Print) 

 

			
	whose address is	 	  

  
  

 

			
	Dated:	 	  

 
			
		
	Holder’s Signature:	 	  

 
			
		
	Holder’s Address:EX-4.5

 Exhibit 4.5 

FORM OF WARRANT TO PURCHASE PREFERRED STOCK 

THIS WARRANT, THE SHARES OF PREFERRED STOCK ISSUED UPON ANY EXERCISE HEREOF AND THE SHARES OF COMMON STOCK ISSUED UPON CONVERSION OF SUCH SHARES OF PREFERRED
STOCK HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON, INCLUDING A PLEDGEE, UNLESS
(1) EITHER (A) A REGISTRATION STATEMENT WITH RESPECT THERETO SHALL BE EFFECTIVE UNDER THE SECURITIES ACT, OR (B) THE COMPANY SHALL HAVE RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT IS AVAILABLE, AND (2) THERE SHALL HAVE BEEN COMPLIANCE WITH ALL APPLICABLE STATE SECURITIES OR “BLUE SKY” LAWS. 

Warrant -No. [    ] 
 Issue Date:
June 26, 2013 
 WARRANT TO PURCHASE 

PREFERRED STOCK 
 OF 

DICERNA PHARMACEUTICALS, INC. 
 (A
DELAWARE CORPORATION) 
 Dicerna Pharmaceuticals, Inc., a Delaware corporation (the “Company”), for value received, hereby
certifies that                      or its registered assigns (the “Holder”) is entitled, subject to the terms set forth below, to
purchase from the Company, at any time before the earlier of (i) 5:00 p.m., Eastern Time, on June 26, 2018 and (ii) the conversion of all of the outstanding shares of preferred stock, par value $0.0001 per share, of the Company
pursuant to the Amended and Restated Certificate of Incorporation of the Company, as amended from time to time (the “Expiration Date”), the number of shares of New Stock (as defined in that certain Securities Purchase
Agreement dated as of June 26, 2013, by and among the Company and the other parties named therein (the “Purchase Agreement”)) determined by dividing [insert number equal to 20% * (original principal amount of the Note)]
by an exercise price per share equal to the New Stock Price (as defined in the Purchase Agreement), as adjusted in accordance with Section 2 hereof (the “Exercise Price”). 

This Warrant to Purchase Preferred Stock (this “Warrant”) is one of a series of warrants (collectively, the
“Warrants”) issued pursuant to the Purchase Agreement and is entitled to the benefits of the Purchase Agreement. The terms of the Warrants (including this Warrant) are and will be identical except as to the name of the Holder
thereof, the number of shares of New Stock purchasable by such holder (which shall vary based on the original principal amount of Notes) and the date of issuance thereof. Except as to those terms otherwise defined in this Warrant, all capitalized
terms used in this Warrant shall have the respective meanings ascribed to them in the Purchase Agreement. 

  
 1 

 1. Exercise. 

1.1. Manner of Exercise; Payment in Cash. This Warrant may be exercised by the Holder, in whole or in part, by surrendering this
Warrant, with the purchase form appended hereto as Exhibit A (the “Purchase Form”) duly executed by the Holder, at the principal office of the Company, or at such other place as the Company may designate, accompanied by
payment in cash in full of the Exercise Price payable in respect of the number of shares of New Stock purchased upon such exercise. Payment of the Exercise Price pursuant to this Section 1.1 shall be by wire transfer of immediately
available funds or by certified or official bank check payable to the order of the Company. 
 1.2. Effectiveness. Each exercise of
this Warrant shall be deemed to have been effected immediately prior to the close of business on the day on which this Warrant shall have been surrendered to the Company as provided in Section 1.1 above. At such time, the person or
persons in whose name or names any certificates for New Stock shall be issuable upon such exercise as provided in Section 1.3 below shall be deemed to have become the holder or holders of record of the New Stock represented by such
certificates. 
 1.3. Delivery of Certificates. As soon as practicable after the exercise of this Warrant in full or in part, and in
any event within ten (10) business days thereafter, the Company at its sole expense will cause to be issued in the name of, and delivered to, the Holder, or, subject to the terms and conditions hereof, as such Holder may direct: 

(a) a certificate or certificates for the number of full shares of New Stock to which such Holder shall be entitled upon such exercise plus,
in lieu of any fractional share to which such Holder would otherwise be entitled, cash in an amount determined pursuant to Section 1.4 hereof, and 

(b) in case such exercise is in part only, a new warrant or warrants (dated the date hereof) of like tenor, calling in the aggregate on the
face or faces thereof for the number of shares of New Stock (without giving effect to any adjustment therein) equal to the number of such shares called for on the face of this Warrant minus the number of such shares purchased by the Holder upon such
exercise as provided in Section 1.1 above. 
 1.4. Fractional Shares. The Company shall not be required upon the exercise
of this Warrant to issue any fractional shares, but shall pay to the Holder hereof in cash on the basis of the fair market value of a share of such New Stock determined pursuant to Section 1.5(c) herein. 

1.5. Net Issuance. 
 (a)
Net Issuance. In addition to and without limiting the rights of the Holder under Section 1.1 above, the Holder shall have the right to exercise this Warrant or any portion thereof (the “Net Issuance Right”), when
exercisable, into shares of New Stock as provided in this Section 1.5. Upon exercise of the Net Issuance Right with respect to a particular number of shares subject to this Warrant set forth in the Purchase Form pursuant to
Section 1.5(b) hereof 

  
 2 

 
(the “Net Issuance Shares”), the Company shall deliver to the Holder, in lieu of payment by the Holder of the Exercise Price in cash pursuant to Section 1.1 hereof,
that number of shares of fully paid and nonassessable New Stock equal to the quotient obtained by dividing (X) the value of this Warrant (or the specified portion hereof) on the Net Issuance Date (as defined in subsection (b) hereof),
which value shall be determined by subtracting (A) the aggregate Exercise Price of the Net Issuance Shares immediately prior to the exercise of the Net Issuance Right from (B) the aggregate fair market value of the Net Issuance Shares
issuable upon exercise of this Warrant (or the specified portion hereof) on the Net Issuance Date by (Y) the fair market value of one share of New Stock on the Net Issuance Date for which the Warrant is exercised (the “FMV”).

 Expressed as a formula, the number of shares of New Stock upon exercise of the New Issuance Right shall be computed as follows: 

 

					
	N	 	=	 	B-A
		 		 	Y

  

							
	where:	 	N	 	=	  	the number of shares of New Stock to be issued to Holder
				
		 	Y	 	=	  	FMV
				
		 	A	 	=	  	the aggregate Warrant Price (Net Issuance Shares × Exercise Price)
				
		 	B	 	=	  	the aggregate FMV (i.e., FMV × Net Issuance Shares)

 No fractional shares shall be issuable upon exercise of the Net Issuance Right, and, if the number of
shares to be issued determined in accordance with the foregoing formula is other than a whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value of the resulting fractional share as of the Net Issuance Date
determined pursuant to Section 1.5(c) herein. 
 (b) Method of Exercise. The Net Issuance Right shall be exercised by
the Holder by the surrender of this Warrant, when exercisable, at the principal office of the Company together with the Purchase Form duly completed and executed and indicating the number of shares subject to this Warrant which are being surrendered
(referred to in Section 1.5(a) hereof as the Net Issuance Shares) in exercise of the Net Issuance Right. Such exercise shall be effective upon receipt by the Company of this Warrant together with the aforesaid written statement, or on
such later date as is specified therein (the “Net Issuance Date”), and, at the election of the Holder hereof, may be made contingent upon the occurrence of any of the events specified in Section 2. Certificates for the
shares issuable upon exercise of the Net Issuance Right and, if applicable, a new Warrant evidencing the balance of the shares remaining subject to this Warrant, shall be issued as of the Net Issuance Date and shall be delivered to the Holder within
thirty (30) days following the Net Issuance Date. 

  
 3 

 (c) Determination of Fair Market Value. For purposes of this Section 1.5,
“fair market value” of a share of New Stock as of a particular date (the “Determination Date”) shall be determined as follows. 

(i) If the Net Issuance Right is exercised in connection with an Initial Public Offering and if the Company’s
Registration Statement relating to such Initial Public Offering has been declared effective by the Securities and Exchange Commission, then the fair market value of a share of New Stock shall be the product of (x) the initial “Price to
Public” of a share of common stock, par value $0.0001 per share, of the Company (“Common Stock”) specified in the final prospectus with respect to such offering multiplied by (y) the number of shares of Common Stock into
which each share of New Stock is convertible at the time of such exercise. 
 (ii) If the Net Issuance Right is not
exercised in connection with and contingent upon a public offering of Common Stock and: 
  

	 	(1)	if Common Stock is traded on a securities exchange, the fair market value of New Stock shall equal the product of (x) the average of the closing prices of the Common Stock on such exchange over the five-day period
ending one business day prior to the Determination Date or, if less, such number of days as the Common Stock has been traded on such exchange, multiplied by (y) the number of shares of Common Stock into which each share of New Stock is
convertible at the time of such exercise; 

  

	 	(2)	if Common Stock is traded over the counter, the fair market value of the Common Stock shall equal the product of (x) the average of the closing bid prices of the Common Stock over the five-day period ending one
business day prior to the Determination Date or, if less, such number of days as the Common Stock has been traded over-the-counter, multiplied by (y) the number of shares of Common Stock into which each share of New Stock is convertible at the
time of such exercise; and 

  

	 	(3)	if Common Stock is not traded on any securities exchange or over the counter, the fair market value of a share of New Stock shall be determined in good faith by the Board of Directors of the Company. 

2. Certain Adjustments. 
 2.1. Changes
in New Stock. If the Company shall (i) combine the outstanding shares of New Stock into a lesser number of shares, (ii) subdivide the outstanding shares of New Stock into a greater number of shares, or (iii) issue additional
shares of New Stock as a dividend or other distribution with respect to New Stock, the number of shares of New Stock to be issued pursuant to the terms of this Warrant shall be equal to the number of shares which the Holder would have been entitled
to receive after the happening of any of the events described above if such shares had been issued immediately prior to the happening of such event, such adjustment to become effective concurrently with the effectiveness of such event. The Exercise
Price in effect immediately prior to any such combination of New Stock shall, upon the effectiveness of such combination, be proportionately increased. The Exercise Price in effect immediately prior to any such subdivision of New Stock or at the
record date of such dividend shall upon the effectiveness of such subdivision or immediately after the record date of such dividend be proportionately reduced. 

  
 4 

 2.2. Reorganizations and Reclassifications. If there shall occur any capital
reorganization or reclassification of New Stock (other than a change in par value or a subdivision or combination as provided for in Section 2.1), then, as part of any such reorganization or reclassification, lawful provision shall be
made so that the Holder shall have the right thereafter to receive upon the exercise hereof the kind and amount of shares of stock or other securities or property which such Holder would have been entitled to receive if, immediately prior to any
such reorganization or reclassification, such Holder had held the number of shares of New Stock which were then purchasable upon the exercise of this Warrant. In any such case, appropriate adjustment (as reasonably determined by the Board of
Directors of the Company) shall be made in the application of the provisions set forth herein with respect to the rights and interests thereafter of the Holder such that the provisions set forth in this Section 2 (including provisions
with respect to adjustment of the Exercise Price) shall thereafter be applicable, as nearly as is reasonably practicable, in relation to any shares of stock or other securities or property thereafter deliverable upon the exercise of this Warrant.

 2.3. Merger, Consolidation or Sale of Assets. Subject to the provisions of this Section 2, if there shall be a merger
or consolidation of the Company with or into another corporation (other than a merger or reorganization involving only a change in the state of incorporation of the Company or the acquisition by the Company of other businesses where the Company
survives as a going concern), or the sale of all or substantially all of the Company’s capital stock or assets to any other person, then as a part of such transaction, provision shall be made so that the Holder shall thereafter be entitled to
receive the number of shares of stock or other securities or property of the Company, or of the successor corporation resulting from the merger, consolidation or sale, to which the Holder would have been entitled if the Holder had exercised its
rights pursuant to the Warrant immediately prior thereto. In any such case, appropriate adjustment shall be made in the application of the provisions of this Section 2 to the end that the provisions of this Section 2 shall be
applicable after that event in as nearly equivalent a manner as may be practicable. 
 2.4. Conversion. If all of the outstanding
shares of preferred stock, par value $0.0001 per share, of the Company are redeemed or converted into shares of Common Stock, this Warrant shall automatically become exercisable solely for the number of shares of Common Stock that would have been
received if this Warrant had been exercised in full and the shares of New Stock received thereupon had been simultaneously converted into shares of Common Stock, in each case immediately prior to such redemption or conversion. Appropriate provisions
shall be made with respect to the rights of the Holder so that the terms hereof shall thereafter be applicable to shares of Common Stock deliverable upon exercise hereof, and appropriate adjustments shall also be made to the Exercise Price, provided
that the aggregate Exercise Price payable for the total number of shares of Common Stock purchasable under this Warrant (as adjusted) shall equal the aggregate Exercise Price payable for shares of New Stock under this Warrant on its Issue Date set
forth above. 
 2.5. Statement of Adjustment. Whenever the Exercise Price or New Stock to be issued hereunder shall be adjusted as
provided in this Section 2, the Company shall forthwith file with the Secretary of the Company or at such other place as shall be designated by the Company, 

  
 5 

 
a statement, signed by its chief financial officer, showing in detail the facts requiring such adjustment, the Exercise Price in effect before and after such adjustment and the kind and amount of
shares of capital stock, securities or other property thereafter to be received upon the exercise of this Warrant. The Company shall also cause a copy of such statement to be sent in the manner specified in Section 7.04 of the Purchase
Agreement to the Holder. 
 2.6. Taxes. The Company shall pay all documentary, stamp or other transactional taxes, but excluding any
income or withholding taxes, attributable to the issuance or delivery of shares of capital stock of the Company upon the exercise or conversion of this Warrant. 

3. Reservation of Stock. The Company will, immediately prior to the closing of the Qualified Financing, reserve and keep available such shares of New
Stock necessary for full exercise hereof. 
 4. Replacement of Warrants. Upon receipt of evidence reasonably satisfactory to the Company of the loss,
theft, destruction or mutilation of this Warrant and (in the case of loss, theft or destruction) upon delivery of an indemnity agreement (with surety if reasonably required) in an amount reasonably satisfactory to the Company, or (in the case of
mutilation) upon surrender and cancellation of this Warrant, the Company will issue, in lieu thereof, a new Warrant of like tenor. 
 5.
Transferability. The Holder may not assign, pledge, dispose of or otherwise transfer this Warrant or any rights hereunder without the prior written consent of the Company; provided, however, that subject to compliance with
applicable federal and state securities laws, this Warrant and all rights hereunder are transferable in whole or in part by the Holder that is a partnership, corporation, trust, joint venture, unincorporated organization or other entity to an
Affiliate upon written notice to the Company. The transfer shall be recorded on the books of the Company upon the surrender of this Warrant, properly endorsed, to the Company at its principal offices, and the payment to the Company of all transfer
taxes and other governmental charges imposed on such transfer. In the event of a partial transfer, the Company shall issue to the holders one or more appropriate new warrants. 

6. No Impairment. The Company will not, by amendment of its Certificate of Incorporation or through any reorganization, transfer of assets,
consolidation, merger, dissolution, or any other similar voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and
in the taking of all such action as may be necessary or appropriate in order to protect the rights of the holder of the Warrant against impairment due to such event. Without limiting the generality of the foregoing, the Company (a) will,
subject to Section 3 hereof, take all action that may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable shares of stock, free from all taxes, liens and charges with respect
to the issue thereof, on the exercise of all of the Warrants from time to time outstanding, and (b) will not consolidate with or merge into any other person or permit any such person to consolidate with or merge into the Company (if the Company
is not the surviving person), unless such other person shall expressly assume in writing and will be bound by all the terms of this Warrant. 
 7.
Notices. All notices, requests and other communications hereunder shall be made pursuant to the provisions of Section 7.04 of the Purchase Agreement. 

  
 6 

 8. Waivers and Modifications. Any term or provision of this Warrant may be amended or modified, and any
term or provision hereof may be waived (either generally or in a particular instance and either retroactively or prospectively) with the written consent of the Company and the Purchaser Majority, provided, however, that this Warrant
may not be amended or modified and no provision hereof may be waived without the written consent of the Holder hereof if such amendment or waiver would adversely and prejudicially affect the rights of such Holder in a manner different than the
holders of the other Warrants. No waivers of any term, condition or provision of this Warrant, in any one or more instances, shall be deemed to be, or construed as, a further or continuing waiver of any such term, condition or provision. Any
amendment or waiver effected in accordance with this Section 8 shall be binding upon the Company, the Holder and any future holder of this Warrant. 

9. Headings. The headings in this Warrant are for convenience of reference only and shall in no way modify or affect the meaning or construction of any
of the terms or provisions of this Warrant. 
 10. Governing Law. This Warrant will be governed by and construed in accordance with and governed by
the laws of the State of Delaware, without giving effect to the conflict of law principles thereof. 
 [Remainder of page intentionally
left blank] 

  
 7 

 IN WITNESS WHEREOF, Dicerna Pharmaceuticals, Inc. caused this Warrant to be executed by an
officer thereunto duly authorized. 
  

			
	DICERNA PHARMACEUTICALS, INC.
		
	By:	 	  

	Name:	 	Douglas Fambrough
	Title:	 	Chief Executive Officer

  
 8 

 EXHIBIT A 

PURCHASE FORM 
  

	To:	DICERNA PHARMACEUTICALS, INC. 

 480 Arsenal Street 

Building 1, Suite 120 

Watertown MA 02472 

Attn: CEO 
 The
undersigned pursuant to the provisions set forth in the attached Warrant (No.-    ), hereby irrevocably elects to (check one): 
  

	 	    	(A) purchase                  shares of New Stock covered by such Warrant and herewith makes payment of
$        , representing the full exercise price for such shares at the price per share provided for in such Warrant; or 

  

	 	    	(B) exercise such Warrant for                  shares of New Stock by tendering such Warrant with respect to
         Net Issuance Shares determined pursuant to the provisions of Section 1.5 of the Warrant. 

The shares of New Stock for which the Warrant may be exercised shall be known herein as the “Warrant Stock.” 

The undersigned is aware that the Warrant Stock and shares of Common Stock issuable upon conversion of any Warrant Stock (the
“Conversion Shares” and together with the Warrant Stock, the “Securities”) have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state
securities laws. The undersigned understands that reliance by the Company on exemptions under the Securities Act is predicated in part upon the truth and accuracy of the statements of the undersigned in this Purchase Form. 

The undersigned represents and warrants that (1) it has been furnished with all information which it deems necessary to evaluate the
merits and risks of the purchase of the Securities, (2) it has had the opportunity to ask questions concerning the Securities and the Company and all questions posed have been answered to its satisfaction, (3) it has been given the
opportunity to obtain any additional information it deems necessary to verify the accuracy of any information obtained concerning the Securities and the Company and (4) it has such knowledge and experience in financial and business matters that
it is able to evaluate the merits and risks of purchasing the Securities and to make an informed investment decision relating thereto. 

The undersigned hereby represents and warrant that it is purchasing the Securities for its own account for investment and not with a view to
the sale or distribution of all or any part of the Securities. 
 The undersigned understands that because the Securities have not been
registered under the Securities Act, it must continue to bear the economic risk of the investment for an indefinite period of time and the Securities cannot be sold unless they are subsequently registered under applicable federal and state
securities laws or an exemption from such registration is available. 

  
 Exhibit A-1 

 The undersigned agrees that it will in no event sell or distribute or otherwise dispose of all or
any part of the Securities unless (1) there is an effective registration statement under the Securities Act and applicable state securities laws covering any such transaction involving the Securities, or (2) the Company receives an opinion
satisfactory to the Company of the undersigned’s legal counsel stating that such transaction is exempt from registration. The undersigned consents to the placing of a legend on its certificate for the Warrant Stock or the Conversion Shares, as
the case may be, stating that such Securities have not been registered and setting forth the restriction on transfer contemplated hereby, and to the placing of a stop transfer order on the books of the Company and with any transfer agents against
such Securities until such Securities may be legally resold or distributed without restriction. 
 The undersigned has considered the
federal and state income tax implications of the exercise of the Warrant and the purchase and subsequent sale of the Securities. 
  

			
	  

		
	Dated:	 	  

  
 Exhibit A-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}]]