Document:

Form of Warrant

 Exhibit 4.2 
 NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS WARRANT NOR THE SECURITIES INTO WHICH SUCH SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH SECURITIES UNDER
THE SECURITIES ACT, OR (B) AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER OF THE SECURITIES THAT REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER THE SECURITIES ACT.
ANY TRANSFEREE OF THIS WARRANT SHOULD CAREFULLY REVIEW THE TERMS OF THIS SECURITY. 
 Date of Issuance: February 22, 2012 

HORIZON PHARMA, INC. 
 WARRANT TO PURCHASE COMMON STOCK 
 THIS WARRANT CERTIFIES THAT, for
value received, [    ] and its registered permitted assigns (the “Holder”) are entitled to purchase from Horizon Pharma, Inc. (the “Company”), in whole or in part and at the times set forth
below, up to [                ] shares (the “Warrant Shares”) of the Company’s common stock, $0.0001 par value per share (“Common
Stock”), at an exercise price per share of $0.01 (the “Exercise Price”). The number of Warrant Shares into which this Warrant shall be exercisable and the Exercise Price are each subject to adjustment pursuant to the terms
of this Warrant. Capitalized terms used herein, but not defined in the body of this Warrant, have the meanings given in Annex I. 
  

	1.	Term. 

 This Warrant shall
become exercisable on the Initial Exercisability Date and, subject to the provisions of Sections 2.3 and 4.3(a), shall expire at 5:00 p.m. (New York time) on January 22, 2017 (the “Expiration Time”).

  

	2.	Method of Exercise; Net Exercise; Automatic Exercise; Exercise Limitations. 

2.1(a) Method of Exercise. The purchase right represented by this Warrant may be exercised by the Holder, in whole or in part, by:

  

	 	(i)	 the delivery to the Company of an executed notice of exercise, in the form attached hereto as Attachment A (which may be by facsimile), an
Investment Representation Statement, in the form attached hereto as Attachment B (which may be by facsimile) and, if required pursuant to Section 2.1(b), the original of this Warrant

	 	
or a proper Certificate of Loss (collectively, the “Exercise Documents”); and 

  

	 	(ii)	subject to Section 2.2, the payment to the Company, by certified check or wire transfer, of an amount equal to the Exercise Price per share multiplied by
the number of Warrant Shares then being purchased (such aggregate amount of money, the “Purchase Price”); 

provided that this Warrant shall be exercisable only pursuant to the Conversion Right set forth in Section 2.2 if, on the date of
exercise, the Exercise Price is less than the par value per Warrant Share. 
 (b) Book Entry; Physical Delivery of
Warrant. The Holder shall not be required to physically surrender this Warrant upon exercise, unless the Holder is purchasing all of the Warrant Shares obtainable upon exercise of this Warrant. If the Holder is purchasing the full amount of
Warrant Shares obtainable upon exercise of this Warrant, the Holder shall, pursuant to Section 2.1(a), (i) physically surrender the original copy of this Warrant or (ii) if the original of this Warrant is lost, deliver to the Company
a certification to such effect and an indemnity reasonably satisfactory to the Company (a “Certificate of Loss”). The Holder and the Company shall maintain records showing the number of Warrant Shares purchased hereunder and the
dates of such purchases or shall use such other method, reasonably satisfactory to the Company, so as not to require physical surrender of this Warrant upon exercise. The Holder and any assignee, by acceptance of this Warrant or any new Warrant,
acknowledge and agree that, by reason of the provisions of this Section 2.1(b), following exercise of any portion of this Warrant, the number of Warrant Shares which may be purchased upon exercise may be less than the number of Warrant
Shares set forth on the face hereof. The Holder agrees to furnish to any assignee of this Warrant the Holder’s records showing the number of Warrant Shares previously purchased hereunder and the dates of such purchases, if any. 

2.2 Net Exercise. The Holder may elect to exercise all or any portion of this Warrant into Warrant Shares, the aggregate value of
which Warrant Shares shall be equal to the value of this Warrant or the portion thereof being converted (the “Conversion Right”). The Conversion Right may be exercised by the Holder by delivery to the Company of the Exercise
Documents, together with notice of the Holder’s intention to exercise the Conversion Right. Upon exercise of the Conversion Right, the Company shall issue to the Holder a number of Warrant Shares computed using the following formula:

 X = Y(A - B) 
         A 
  

							
	 Where
	  	X	  	=	  	The number of Warrant Shares to be issued to the Holder upon exercise of its Conversion Right.
				
		  	Y	  	=	  	The number of Warrant Shares with respect to which the Conversion Right is being exercised.

  
 2 

							
		  	 A
	  	=	  	The Fair Market Value of one Warrant Share, as determined at the time the Conversion Right is exercised pursuant to this Section 2.2.
				
		  	 B
	  	=	  	The Exercise Price (as adjusted to the date of such calculation).

 2.3 Automatic Exercise. Notwithstanding anything herein to the contrary, to the extent this
Warrant remains exercisable, this Warrant shall be deemed to be fully exercised pursuant to the Conversion Right, without the need for any action by the Holder or the Company, immediately prior to the Expiration Time or, if earlier, the termination
of this Warrant pursuant to Section 4.3(a); provided, however, that notwithstanding any other provision hereof, the Company may delay the delivery of Warrant Shares until the Holder delivers to the Company an Investment
Representation Statement, in the form attached hereto as Attachment B with respect to such exercise. 
 2.4
Conditional Exercise. Notwithstanding any other provision hereof, if an exercise of any portion of this Warrant is to be made in connection with a public offering or a sale of the Company (pursuant to a merger, sale of stock, or otherwise),
such exercise may at the election of the Holder be conditioned upon the consummation of such transaction, in which case such exercise shall not be deemed to be effective until immediately prior to the consummation of such transaction. 

2.5 Exercise Mechanics. 
 (a) Delivery of New Warrant. In the event that this Warrant is being exercised for less than all of the Warrant Shares, at the request of the Holder, the Company shall, promptly after the physical
delivery of the original of this Warrant (or a Certificate of Loss) to the Company, issue a new Warrant exercisable for the remaining number of Warrant Shares, and such new Warrant shall be deemed to be an “original” hereof. 

(b) Rights as Shareholder. Upon delivery to the Company of the Exercise Documents, together with, if applicable, the aggregate
Purchase Price, the Holder shall be deemed to be the holder of record of the applicable number of Warrant Shares, notwithstanding that the stock transfer books of the Company shall then be closed or that certificates or book entries representing
such Warrant Shares shall not then be actually delivered to the Holder. 
 (c) Listing. If any shares of Common Stock
required to be reserved for purposes of exercise of this Warrant require listing on the Principal Market before such shares may be issued upon exercise, the Company will, at its expense and as expeditiously as possible, use its best efforts to cause
such shares to be duly approved for listing or listed on the Principal Market. 
 (d) Governmental Filings and Approvals.
The Company shall reasonably assist and cooperate with the Holder to make any governmental filings or obtain any governmental approvals prior to or in connection with any exercise of this Warrant (including, without limitation, making any filings
required to be made by the Company). 

  
 3 

 (e) Taxes and Other Expenses of Exercise. The Company shall pay any and all
documentary stamp, duty, registration or similar issue or transfer taxes and expenses payable in respect of the Company’s issuance or delivery of the Warrant Shares, and the issuance of certificates for Warrant Shares shall be made without
charge to the Holder for any such taxes or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Company. 

(f) Delivery of Share Certificates. The Holder exercising its purchase rights in accordance with Section 2.1 or
Section 2.2 shall be entitled to receive a certificate for the number of Warrant Shares so purchased. Certificates for shares purchased hereunder shall be delivered to the Holder within three Trading Days after the date on which this
Warrant shall have been validly exercised. Such Warrant Shares shall bear an appropriate restrictive legend unless either (i) at the time of such issuance, a registration statement (as defined in the Securities Act) covering the resale of the
Warrant Shares and naming the Holder as a selling stockholder thereunder is then effective and the Holder delivers to the Company a representation that the Warrant Shares to be issued were transferred pursuant to such effective registration
statement and in compliance with the prospectus delivery requirements of the Securities Act; (ii) the Warrant Shares issued upon such exercise are being issued pursuant to a cashless exercise and the Holder delivers to the Company an opinion of
counsel reasonably satisfactory to the Company to the effect that such Warrant Shares have been transferred in compliance with Rule 144 under the Securities Act or (iii) the Warrant Shares issued upon such exercise are being issued pursuant to
a cashless exercise and the Holder delivers to the Company together with the Exercise Documents an opinion of counsel reasonably satisfactory to the Company to the effect that the Warrant Shares issued upon such exercise are freely transferable
without volume and manner of sale restrictions pursuant to Rule 144 under the Securities Act (including in compliance with Rules 144(b)(1)(ii) and 144(d)(1)(ii) under the Securities Act). If any of clauses (i), (ii) or (iii) of the
immediately preceding sentence is satisfied at the time of such issuance, and if the Holder shall have so requested in a writing delivered to the Company together with the Exercise Documents, then the Company shall use commercially reasonable
efforts to deliver the Warrant Shares hereunder electronically through the Depository Trust Corporation or another established clearing corporation performing similar functions, if available, provided, that the Company shall have no
obligation to change its transfer agent if its current transfer agent cannot deliver Warrant Shares electronically through the Depository Trust Corporation. 
 (g) Failure to Deliver Share Certificates. If the Company fails to deliver to the Holder a certificate or certificates representing Warrant Shares, pursuant to this Section 2.5(g) (but
subject to Section 2.3) by noon, Eastern Standard Time, on the third Trading Day after the date of the valid exercise of this Warrant, then the Company shall, 

 

	 	(i)	at the option of the Holder, either, 

  

	 	(A)	rescind such exercise and reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored, in lieu of delivering
such Warrant Shares and certificates for such Warrant Shares; or 

  
 4 

	 	(B)	deliver to the Holder the Warrant Shares that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder; and

  

	 	(ii)	if after noon, Eastern Standard Time, on such third Trading Day the Holder or the Holder’s brokerage firm purchases shares of the same class and series as the
Warrant Shares to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), pay in cash to the Holder the amount by which, 

 

	 	(A)	the Holder’s total purchase price (including brokerage commissions, if any) for the shares so purchased, exceeds 

 

	 	(B)	the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise, by
(2) the price at which the sell order giving rise to such purchase obligation was executed. 

 The Holder shall provide the
Company prompt written notice indicating the amounts payable to the Holder in respect of any Buy-In, together with applicable confirmations and other evidence reasonably requested by the Company (a “Buy-In Notice”). The Company
shall pay the amounts payable to the Holder in respect of any Buy-In within three Trading Days after the Company’s receipt of the Buy-In Notice. 
 Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or
injunctive relief with respect to the Company’s failure to timely deliver certificates representing common shares upon exercise of the Warrant as required pursuant to the terms hereof; provided, however, that the Holder shall not be
entitled to both (i) reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored and (ii) receive such Warrant Shares or the value thereof. 

3. Stock Fully Paid; Reservation of Warrant Shares; Avoidance of Warrant Terms. 

All shares of stock which may be issued upon the exercise of the rights represented by this Warrant will, upon issuance, be duly
authorized, validly issued, fully paid and nonassessable, and free from all liens and encumbrances with respect to the issue thereof, except for liens and encumbrances imposed upon the Holder and restrictions on transfer provided for herein or under
applicable federal and state securities laws. The Company covenants that during the period the Warrant is exercisable, it will reserve from its authorized and unissued shares of Common Stock a sufficient number of shares to provide for the issuance
of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock
certificates to execute and issue the necessary certificates for the Warrant Shares upon the valid exercise of the purchase rights under this Warrant. The Company 

  
 5 

 
will take all reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any law or regulation applicable to the Company, or of
any requirements of the Principal Market. 
 The Company shall not by any action, including, without limitation, amending its
certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other 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 actions as may be necessary or appropriate to protect the rights of the Holder as set forth in this Warrant against impairment.
Without limiting the generality of the foregoing, the Company will, 
 (a) not increase the par value of any Warrant Shares
above the Exercise Price then in effect; 
 (b) take all such action as may be necessary or appropriate in order that the
Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant; and 
 (c)
use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations under this Warrant.

 4. Adjustment of Number of Warrant Shares. 
 The number of and kind of securities and other property purchasable upon exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time as follows: 

4.1 Subdivisions, Combinations and Other Issuances. If the Company shall, at any time after the date hereof and prior to the
expiration of this Warrant, 
 (a) pay a dividend in Common Stock or make a distribution in Common Stock to holders of its
outstanding Common Stock; 
 (b) subdivide its outstanding Common Stock into a greater number of shares; 

(c) combine its outstanding Common Stock into a smaller number of shares; or 

(d) issue any shares of its capital stock in a reclassification of the Common Stock; 

then the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior thereto shall be adjusted so that the Holder shall be
entitled to receive the kind and number of Warrant Shares or other securities of the Company which it would have owned or have been entitled to receive had such Warrant been exercised immediately prior to such action. An adjustment made pursuant to
this paragraph shall become effective immediately after the effective date of such event retroactive to the record date, if any, for such event. 

  
 6 

 4.2 Reclassification, Reorganization and Exchange. Subject to
Section 4.3, if the Company shall, at any time after the date hereof and prior to the expiration of this Warrant, 

(a) reorganize its capital; 
 (b) reclassify its capital stock; or 
 (c) exchange its capital stock; 

and such reorganization, reclassification or exchange affects the class and series of capital stock issuable upon exercise of this Warrant immediately
prior to such event, then the Holder shall have the right thereafter to receive upon exercise of this Warrant (in lieu of the shares of capital stock otherwise issuable upon exercise of this Warrant), the kind and number of securities and property
which it would have owned or have been entitled to receive had this Warrant been exercised immediately prior to such event. An adjustment made pursuant to this paragraph shall become effective immediately after the effective date of such event
retroactive to the record date, if any, for such event. 
 4.3 Fundamental Transaction. 

(a) If the Company engages in a Fundamental Transaction in which the sole consideration is cash or the right to receive cash, this Warrant
shall terminate on and as of the closing of such Fundamental Transaction, subject to Section 2.3 hereof. The Company shall provide the Holder with written notice of any proposed Fundamental Transaction described in this
Section 4.3(a) not later than 10 Trading Days prior to the closing thereof setting forth the material terms and conditions thereof, and shall provide the Holder with such information respecting such proposed Fundamental Transaction as
may reasonably be requested by the Holder, subject to any confidentiality obligations to third parties with respect to such information. 
 (b) Upon the closing of any Fundamental Transaction other than as particularly described in Section 4.3(a), (i) this Warrant shall thereafter be exercisable for the same kind and number
of securities and property which the Holder would have owned or have been entitled to receive had this Warrant been exercised immediately prior to such closing and (ii) the successor or acquiring entity (the “Acquiring Entity”)
shall expressly assume all the obligations and liabilities of the Company hereunder, subject to such modifications as may be deemed appropriate (as determined in good faith by resolution of the Board of Directors of the Company) in order to provide
for adjustments of Warrant Shares for which this Warrant is exercisable pursuant to clause (i) (disregarding any limitations on exercisability pursuant to Section 1). The foregoing provisions of this Section 4.3(b) shall
similarly apply to successive Fundamental Transactions. 
 4.4 Dividends. If the Company declares or pays a dividend
(except for (a) a stock dividend payable in shares of Common Stock and (b) any dividend consisting of rights which are not immediately exercisable and are attached to and not immediately separable from shares of Common Stock,
provided that the Company makes provisions for such rights to attach to shares of Common Stock issued thereafter and while such rights remain outstanding (“Non-Separable Rights”)) on its outstanding shares of Common Stock not
covered by Section 4.1, Section 4.2, or 

  
 7 

 
Section 4.5 (a “Dividend”), then the Company shall pay to the Holder at the time of payment thereof the Dividend which would have been paid to the Holder had the
exercisable portion of this Warrant (disregarding any limitations on exercisability pursuant to Section 1) been fully exercised on a cashless basis immediately prior to the date on which a record is taken for such Dividend, or, if no
record is taken, the date as of which the record holders of stock entitled to such dividends are to be determined. 
 4.5
Purchase Rights. If no adjustment pursuant to this Section 4 would otherwise result, if at any time the Company grants the right to acquire or otherwise offers to all or substantially all holders of record of its outstanding
Common Stock on a pro rata basis, shares of Common Stock, Options, Convertible Securities or rights to purchase stock, warrants, securities or other property (the “Purchase Rights”), the Holder shall be entitled to acquire, upon the
terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder would have acquired if the Holder had held the number of Warrant Shares acquirable upon complete exercise of the exercisable portion of this Warrant
(disregarding any limitations on exercisability pursuant to Section 1) on a cashless basis immediately before the date on which a record is taken for the grant or offer of such Purchase Rights, or, if no such record is taken, the date as
of which the record holders of Common Stock are to be determined for the grant or offer of such Purchase Rights. Anything herein to the contrary notwithstanding, the Holder shall not be entitled to the Purchase Rights granted herein with respect to
any Excluded Issuances. 
 4.6 Adjustment of Exercise Price. Upon each such adjustment of the kind and number of Warrant
Shares or other securities of the Company which are purchasable hereunder, the Holder shall thereafter be entitled to purchase the number of Warrant Shares or other securities resulting from such adjustment at an Exercise Price per Warrant Share or
other security obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of Warrant Shares purchasable pursuant hereto immediately prior to such adjustment (disregarding any limitations on exercisability
pursuant to Section 1) and dividing by the number of Warrant Shares or other securities of the Company resulting from such adjustment. 
 4.7 Notice of Adjustment. (a) When any adjustment is required to be made in the number or kind of shares purchasable upon exercise of the Warrant, or in the Exercise Price, the Company shall
promptly notify the holder of such event. 
 (b) In addition, if at any time: 

 

	 	(i)	the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend or other distribution, or any right to
subscribe for or purchase any evidences of its indebtedness, any shares of stock of any class or any other securities or property, or to receive any other right; 

 

	 	(ii)	 there shall be any capital reorganization of the Company, any reclassification, recapitalization or exchange of the capital stock of the Company or any
consolidation or merger of the Company with, or any sale, transfer or other disposition of all or substantially all 

  
 8 

	 	
the property, assets or business of the Company to, another entity; or 

  

	 	(iii)	there shall be a voluntary or involuntary dissolution, liquidation or winding up of the Company; 

 then, in any one or more of such cases to the extent there is not a resulting adjustment to this Warrant or grant of Purchase Rights pursuant to Sections 4.1, 4.2, 4.3, 4.4 or
4.5 or to the extent a stockholder vote is to be solicited for purposes of approving such action, the Company shall give to the Holder (i) at least 10 Trading Days’ prior written notice of the record date for such dividend,
distribution or right or for determining rights to vote in respect of any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, liquidation or winding up, and (ii) in the case of any such reorganization,
reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up, at least 10 Trading Days’ prior written notice of the date when the same shall take place. Such notice in accordance with the
foregoing clause also shall specify (i) the date on which any such record is to be taken for the purpose of such dividend, distribution or right, the date on which the holders of Common Stock shall be entitled to any such dividend, distribution
or right, and the amount and character thereof, and (ii) the date on which any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up is to take place and the time, if
any such time is to be fixed, as of which the holders of Common Stock shall be entitled to exchange their shares of Common Stock for securities or other property deliverable upon such disposition, dissolution, liquidation or winding up. 

4.8 Investors’ Rights Agreement. This Warrant and all Warrant Shares issuable upon exercise of this Warrant are and shall
become subject to, and have the benefit of, the Investors’ Rights Agreement. 
 5. Fractional Warrant Shares. 

No fractional Warrant Shares will be issued in connection with any exercise hereunder, but in lieu of such fractional shares the Company
shall make a cash payment therefor upon the basis of the Fair Market Value of one Warrant Share. 
 6. Transferability of Warrant.

 Subject to the restrictions on transferability set forth in the legend endorsed hereon, this Warrant may be transferred or
assigned to any Person in whole or in part without the prior consent of the Company, at the address set forth on the signature pages hereto, by the Holder in person or by duly authorized attorney, upon surrender of (a) the original of this
Warrant together with an assignment form and (b) any other documentation reasonably necessary to satisfy the Company that such transfer is in compliance with all applicable securities laws; provided, however that the Holder may not sell,
transfer, assign, pledge or otherwise dispose of any portion of this Warrant to a third party not affiliated with the Holder with respect to the lesser of (x) 100,000 Warrant Shares (subject to adjustment for stock splits, consolidations and
the like) and (y) all remaining Warrant Shares for which this Warrant is then exercisable. 

  
 9 

 7. No Rights as Stockholder. 
 Except as expressly set forth in this Warrant, no Holder of this Warrant shall be entitled to vote or be deemed the holder of Common Stock for any purpose, nor shall anything contained herein be construed
to confer upon the Holder of this Warrant, as such, any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold
consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification of stock, change of par value or change of stock to no par value, consolidation, merger, conveyance, or otherwise) or to receive notice of
meetings, or to receive dividends or subscription rights or otherwise until this Warrant has been exercised. 
 8. Governing Law.

 The terms and conditions of this Warrant (including any claim or controversy arising out of or relating to this Warrant) shall
be governed by the law of the State of New York without regard to conflict of law principles that would result in the application of any law other than the law of the State of New York. 
 9. Closing of Books. 
 The Company will not close its stockholder books or
records in any manner not in the ordinary course with the primary intention of preventing the timely exercise of this Warrant, pursuant to the terms hereof. 
 10. Loss, Theft, Destruction or Mutilation of Warrant. 
 The Company
covenants that upon receipt by the Company of a Certificate of Loss, and upon surrender and cancellation of this Warrant, if mutilated, the Company will make and deliver a new Warrant of like tenor and dated as of such cancellation, in lieu of such
Warrant, and such new Warrant shall be deemed to be an “original” hereof. 
 11. Representations and Warranties of Holder.

 11.1 Purchase for Own Account. This Warrant and the securities to be acquired upon exercise of this Warrant by Holder
will be acquired for investment for Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution in violation of the Securities Act. Holder also represents that it has not been formed for the specific
purpose of acquiring this Warrant or the Warrant Shares. 
 11.2 Investment Experience. Holder understands that the
purchase of this Warrant and its underlying securities involves substantial risk. Holder has experience as an investor in securities of companies similar to the Company and acknowledges that Holder can bear the economic risk of such Holder’s
investment in this Warrant and its underlying securities and has such knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying securities
and/or has a preexisting personal or business relationship with the Company and certain of its 

  
 10 

 
officers, directors or controlling persons of a nature and duration that enables Holder to be aware of the character, business acumen and financial circumstances of such persons. 

11.3 Accredited Investor Status. Holder is an “accredited investor” within the meaning of Regulation D promulgated under
the Securities Act. 
 11.4 No Registration. Holder understands that this Warrant and the securities issuable upon
exercise or conversion hereof have not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the Holder’s investment intent as
expressed herein. Holder understands that this Warrant and the Warrant Shares issued upon any exercise or conversion hereof must be held indefinitely unless subsequently registered under the Securities Act and qualified under applicable state
securities laws, or unless exemption from such registration and qualification are otherwise available. 
 12. Miscellaneous. 

(a) Notices. All notices, demands or other communications to be given or delivered under or by reason of the provisions of this
Warrant shall be in writing and delivered personally, mailed by certified or registered mail, return receipt requested and postage prepaid, sent via a nationally recognized overnight courier, or via facsimile. Such notices, demands and other
communications will be sent to the addresses set forth on the signature pages hereto or such other address or to the attention of such other person (including any transfer agent) as the recipient party shall have specified by prior written notice to
the sending party; provided that, the failure to deliver copies of notices as indicated above shall not affect the validity of any notice. Any such communication shall be deemed to have been received (i) when delivered, if personally
delivered or sent by nationally recognized overnight courier or sent via facsimile or (ii) on the third Business Day following the date on which the piece of mail containing such communication is posted if sent by certified or registered mail.

 (b) Removal of Legend; Transfer Restrictions. The transfer restrictions imposed by the legend endorsed on this Warrant
and/or any Warrant Shares shall cease and terminate (i) when a registration statement (as defined in the Securities Act) covering the resale of the Warrant and /or Warrant Shares, as applicable, and naming the Holder as a selling stockholder
thereunder is then effective and the Holder has transferred the Warrant and/or Warrant Shares, as applicable, pursuant to such effective registration statement and in compliance with the prospectus delivery requirements of the Securities Act;
(ii) when, in the opinion of counsel reasonably satisfactory to the Company, the Warrant and/or Warrant Shares, as applicable, have been transferred in compliance with Rule 144 under the Securities Act or (iii) when, in the opinion of
counsel reasonably satisfactory to the Company, the Warrant and/or Warrant Shares, as applicable, are freely transferable without volume and manner of sale restrictions pursuant to Rule 144 under the Securities Act (including in compliance with
Rules 144(b)(1)(ii) and 144(d)(1)(ii) under the Securities Act). Whenever such restrictions shall cease and terminate as to this Warrant or such Warrant Shares, the Holder thereof (or such Holder’s permissible transferee) shall be entitled to
receive from the Company, without expense, a new Warrant containing the same terms as this Warrant, or new certificates evidencing such Warrant Shares, in each case not bearing a legend with respect to transfer restrictions, and such new Warrant
shall 

  
 11 

 
be deemed to be an “original” hereof. The Company shall, within three Business Days after a valid written request therefor, deliver such new Warrants or new certificates evidencing such
Warrant Shares, as applicable, to the Holder in accordance with this paragraph; provided, however, that with respect to Warrant Shares as to which the continuing need for any legend has ceased and terminated as provided for in this paragraph,
if the Holder shall have so requested in writing, then the Company shall use commercially reasonable efforts to deliver, within three Business Days after a written request therefor, the Warrant Shares hereunder electronically through the Depository
Trust Corporation or another established clearing corporation performing similar functions, if available, provided, that the Company shall have no obligation to change its transfer agent if its current transfer agent cannot deliver Warrant Shares
electronically through the Depository Trust Corporation. 
 (c) Saturday, Sundays and Holidays. If the last or appointed
day for the taking of any action or the expiration of any right required or granted herein shall be a Saturday, Sunday or a legal holiday, then such action may be taken or such right may be exercised on the next succeeding day not a Saturday, Sunday
or legal holiday. 
 (d) Non-Waiver and Expenses; Dispute Resolution Fees; Specific Performance. No delay or omission to
exercise any right, power, or remedy accruing to the Holder upon any breach or default of the Company under this Warrant shall impair any such right, power, or remedy of the Holder, nor shall it be construed to be a waiver of any such breach or
default, or an acquiescence therein, or of any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver,
permit, consent, or approval of any kind or character on the part of the Holder of any breach or default under this Warrant, or any waiver on the part of the Holder of any provisions or conditions of this Warrant, must be in writing and shall be
effective only to the extent specifically set forth in such writing or as provided in this Warrant. Except as otherwise provided herein, all remedies, either under this Warrant or by law or otherwise afforded to the Holder, shall be cumulative and
not alternative. If any action at law or in equity is necessary to enforce or interpret the terms of this Warrant, the prevailing party shall be entitled to reasonable attorneys’ fees, costs, and disbursements in addition to any other relief to
which such party may be entitled. Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary
damages may not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate. For
the sake of clarity, no party will be entitled to specific performance and monetary damages for the same damage or loss. 
 (e)
Limitation of Liability. No provision hereof, in the absence of the Holder’s exercise (including an automatic exercise pursuant to Section 2.3) of this Warrant or purchase Warrant Shares, and no enumeration herein of the
rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, to the extent such liability is asserted by, on behalf of or through the Company.

  
 12 

 (f) Warrant Exchangeable for Different Denominations. This Warrant is exchangeable,
upon the surrender of the original hereof or a Certificate of Loss by the Holder at the principal office of the Company, for new Warrants of same tenor representing in the aggregate the purchase rights hereunder, and each such new Warrant shall
represent such portion of such rights as is designated by the Holder at the time of such surrender. The date the Company initially issues this Warrant shall be deemed to be the “Date of Issuance” hereof regardless of the number of times
new certificates representing the unexpired and unexercised rights formerly represented by this Warrant shall be issued. All Warrants representing portions of the rights hereunder are referred to herein as the “Warrants” and each
shall be deemed to be an “original” hereof. 
 (g) Successors and Assigns. This Warrant and the rights and
obligations evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of the Holders from
time to time of this Warrant and shall be enforceable by any such Holder. 
 (h) Amendment. This Warrant may be modified
or amended or the provisions hereof waived only with the written consent of the Company and the Holder. 
 (i)
Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable
law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant. 

(j) Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be
deemed a part of this Warrant. 
 (k) Waiver of Jury Trial. Each party acknowledges and agrees that any controversy which
may arise under this Warrant is likely to involve complicated and difficult issues and, therefore, each such party irrevocably and unconditionally waives any right it may have to a trial by jury in respect of any legal action arising out of or
relating to this Warrant or the transactions contemplated hereby. 
 (l) CONSENT TO JURISDICTION AND SERVICE OF PROCESS.
EACH OF THE PARTIES IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, FOR THE PURPOSES OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF THIS WARRANT, ANY RELATED
AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. EACH OF THE PARTIES HERETO FURTHER AGREES THAT SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY U.S. REGISTERED MAIL TO SUCH PARTY’S RESPECTIVE ADDRESS SET FORTH BELOW SHALL BE
EFFECTIVE SERVICE OF PROCESS FOR ANY ACTION, SUIT OR PROCEEDING WITH RESPECT TO ANY MATTERS TO WHICH IT HAS SUBMITTED TO JURISDICTION IN THIS PARAGRAPH. EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY

  
 13 

 
OBJECTION TO THE LAYING OF VENUE OF ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF THIS WARRANT, ANY RELATED DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY IN THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND HEREBY AND THEREBY FURTHER IRREVOCABLY AND UNCONDITIONALLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION, SUIT OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS
BEEN BROUGHT IN AN INCONVENIENT FORUM. 
 (m) Counterparts. This Warrant may be executed in counterparts, each of which
shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Warrant delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal
effect as delivery of an original signed copy of this Warrant. 
 (n) No Strict Construction. This Warrant shall be
construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 14 

 IN WITNESS WHEREOF, the Company and the Holder have duly executed this Warrant on the date
first written above. 
  

			
	HORIZON PHARMA, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	Address:	 	520 Lake Cook Road, Suite 520
		 	Deerfield, Illinois 60015
		 	Attention: Chief Executive Officer
		 	Fax: (847) 572-1372
		 	Phone: (224) 383-3000
	
	[                            
    ]
		
	By:	 	  

	Name:	 	
	Title:	 	
	Address:	 	[                    ]
		 	[                    ]
		 	Attention: [                    ]
		 	Fax: [                    ]
		 	Phone: [                    ]

 (Signature Page to Warrant) 

 ATTACHMENT A TO WARRANT 

NOTICE OF EXERCISE 
 TO:
Horizon Pharma, Inc. 
 1. The undersigned hereby elects to purchase
             shares of Common Stock of Horizon Pharma, Inc. (the “Company”), pursuant to the terms of the attached Warrant to Purchase Common Stock (the
“Warrant”), and tenders herewith payment of the aggregate purchase price of such shares in full as follows: 
  

	 	[    ]	Certified check in the amount of $         payable to order of the Company enclosed herewith 

 

	 	[    ]	Wire transfer of immediately available funds in the amount of $         to the Company’s account 

 

	 	[    ]	Net Exercise pursuant to Section 2.2 of the Warrant 

 2. Please issue a certificate or certificates representing said shares of Common Stock in the name of the undersigned or in such other name as is specified below: 

 

	
	  

	(Name)
	
	  

	(Address)
	
	  

 3. The undersigned represents that the aforesaid shares of Common Stock are being acquired for the
account of the undersigned for investment and not with a view to, or for resale in connection with, the distribution thereof and that the undersigned has no present intention of distributing or reselling such shares in violation of the Securities
Act of 1933. In support thereof, the undersigned has executed an Investment Representation Statement attached hereto as Attachment B. 
  

			
	Name of Warrantholder:
	
	  

		
	By:	 	  

	Name:	 	
	Title:	 	

 ATTACHMENT B TO WARRANT 

INVESTMENT REPRESENTATION STATEMENT 
  

					
	PURCHASER	 	:	  	
			
	COMPANY	 	:	  	 Horizon Pharma, Inc.

			
	SECURITY	 	:	  	
			
	AMOUNT	 	:	  	
			
	DATE	 	:	  	

 In connection with the purchase of the above-listed securities and underlying stock (the
“Securities”), I,                             , the Purchaser, represent to the Company that
the representations set forth in Section 11 of the Warrant to which this Investment Representation Statement relates are true and correct as to the undersigned, as if made on the date hereof. 

 

			
	Name of Purchaser:
	
	  

		
	By:	 	  

	Name:	 	
	Title:	 	

 Annex I 
 Definitions 
 “Bloomberg” means Bloomberg, L.P.

 “Board of Directors” means board of directors of the Company or any committee thereof duly authorized to act
on behalf of such board. 
 “Business Day” means any day, except a Saturday, Sunday or legal holiday, on which
banking institutions in New York are authorized or obligated by law or executive order to close. 
 “Closing Bid
Price” and “Closing Sales Price” means, for any security as of any date, the last closing bid price and last closing trade price, respectively, for such security on the Principal Market, as reported by Bloomberg, or, if the
Principal Market begins to operate on an extended hours basis and does not designate the closing bid price or the closing trade price, as the case may be, then the last bid price or last trade price, respectively, of such security prior to 4:00:00
p.m., New York time, as reported by Bloomberg, or, if the Principal Market is not the principal securities exchange or trading market for such security, the last closing bid price or last trade price, respectively, of such security on the principal
securities exchange or trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing do not apply, the last closing bid price or last trade price, respectively, of such security in the over-the-counter market
on the electronic bulletin board for such security as reported by Bloomberg, or, if no closing bid price or last trade price, respectively, is reported for such security by Bloomberg, the average of the bid prices, or the ask prices, respectively,
of any market makers for such security as reported in the “pink sheets” by Pink Sheets LLC (formerly the National Quotation Bureau, Inc.). If the Closing Bid Price or the Closing Sales Price cannot be calculated for a security on a
particular date on any of the foregoing bases, the Closing Bid Price or the Closing Sales Price, as the case may be, of such security on such date shall be the fair market value as determined in good faith by the Board of Directors. All such
determinations to be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during the applicable calculation period. 
 “Common Stock” has the meaning given the introductory paragraph to this Warrant; provided that if the class or series of equity securities obtainable upon exercise of this Warrant
shall be adjusted pursuant to the terms of this Warrant, Common Stock shall refer to each such class or series of equity securities obtainable upon exercise of this Warrant. 
 “Convertible Securities” means any stock or securities (directly or indirectly) convertible into or exchangeable for Common Stock. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Excluded Issuances” means any issuance or sale (or deemed issuance or sale in accordance with
Section 4) by the Company after the date hereof of: (a) shares of Common Stock issued upon the exercise of this Warrant; (b) shares of Common Stock (as such number of shares is equitably adjusted for subsequent stock splits,
stock combinations, stock dividends and recapitalizations) issued directly or upon the exercise of Options to directors, officers, 

 
employees, or consultants of the Company in connection with their service as directors of the Company, their employment by the Company or their retention as consultants by the Company, in each
case authorized by the Board of Directors and issued pursuant to the Company’s 2011 Equity Incentive Plan (including all such shares of Common Stock and Options outstanding prior to the date hereof); (c) shares of Common Stock issued upon
the conversion or exercise of Options (other than Options covered by clause (b) above) or Convertible Securities issued prior to the date hereof, provided that such securities are not amended after the date hereof to increase the number of
shares of Common Stock issuable thereunder or to lower the exercise or conversion price thereof or (d) Non-Separable Rights. 
 “Fair Market Value” means, for any security as of any date, 
 (i)
if such security is listed on any national or regional stock exchange or a national market system, the Closing Sales Price for the security or the Closing Bid Price if no sales were reported, as quoted on any national or regional stock exchange or a
national market system on which the security is listed, for the date the value is to be determined (or if there are no sales for such date, then for the last preceding business day on which there were sales), as reported in The Wall Street Journal
or similar publication, 
 (ii) if such security is regularly quoted by a recognized securities dealer but selling prices are
not reported, the mean between the high bid and low asked prices for the security on the date the value is to be determined (or if there are no quoted prices for the date of grant, then for the last preceding business day on which there were quoted
prices), and 
 (iii) otherwise, the value that would be paid by a willing buyer to an unaffiliated willing seller for such
security in a transaction not involving distress or necessity of either party, determined in good faith by the Board of Directors of the Company. 
 “Fundamental Transaction” means the Company’s (a) merger or consolidation with or into another entity, as a result of which the holders of the Company’s outstanding voting
securities as of immediately prior to such merger or consolidation hold less than a majority of the outstanding voting securities of the surviving or successor entity as of immediately after such merger or consolidation or (b) sale, transfer or
other disposition of all or substantially all its property, assets or business to another person or entity. 
 “Initial
Exercisability Date” means the earlier of (a) 180 days from the date hereof, or (b) the date on which the Company is required to provide a written notice to the Holder pursuant to Section 4.7 hereof. 

“Investors’ Rights Agreement” means that certain Investors’ Rights Agreement, dated as of the date hereof, by
and among the Company, the original Holder hereof and such other parties as named therein, as such agreement may be amended from time to time. 
 “Options” means any warrants or other rights or options to subscribe for or purchase Common Stock or Convertible Securities. 

 “Person” means any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization, limited liability company or government or other entity. 

“Principal Market” means, at any time, the principal securities exchange or automated quotation system on which the
Common Stock is then listed, quoted or traded at such time. 
 “Trading Day” means any day on which shares of
Common Stock are traded on the Principal Market; provided that “Trading Day” shall not include any day on which shares of Common Stock are scheduled to trade on the Principal Market for less than 4.5 hours or any day that shares of
Common Stock are suspended from trading during the final hour of trading on the Principal Market (or if the Principal Market does not designate in advance the closing time of trading on such exchange or market, then during the hour ending at 4:00:00
p.m., New York time).Securities Purchase Agreement

 Exhibit 10.1 
 SECURITIES PURCHASE AGREEMENT 
 This SECURITIES
PURCHASE AGREEMENT (this “Agreement”), dated as of February 28, 2012, is made by and among HORIZON PHARMA, INC., a
Delaware corporation (the “Company”), the Purchasers listed on Exhibit A hereto, together with their permitted transferees (each, a “Purchaser” and collectively, the
“Purchasers”) and, solely with respect to Article 6 and Section 8.5, the warrant holders listed on Exhibit B hereto, together with their permitted transferees (each a “Warrant Holder” and
collectively, the “Warrant Holders”). 
 RECITALS: 

A. The Company and the Purchasers are executing and delivering this Agreement in reliance upon the exemption from securities
registration afforded by Section 4(2) of the Securities Act. 
 B. The Purchasers, severally and not jointly, desire
to purchase and the Company desires to sell, upon the terms and conditions stated in this Agreement, up to a maximum of $50,820,003.34 of Common Stock and warrants to purchase Common Stock of the Company. 

C. The Warrant Holders hold certain warrants issued on February 22, 2012 to purchase up to an aggregate of 3,277,191 shares
of Common Stock (the “Debt Warrants”). 
 D. The capitalized terms used herein and not otherwise
defined have the meanings given them in Article 7. 
 AGREEMENT 

In consideration of the premises and the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Company, the Purchasers (severally and not jointly) and, solely with respect to Article 6, the Warrant Holders (severally and not jointly) hereby agree as follows: 

ARTICLE 1 

PURCHASE AND SALE OF SECURITIES 
 1.1 Purchase and Sale of Securities. At the Closing, the Company will issue and sell to each Purchaser, and each Purchaser will, severally and not jointly, purchase from the Company the
number of shares of Common Stock (the “Shares”) and the number of warrants (the “Warrants”) to purchase shares of Common Stock set forth opposite such Purchaser’s name on Exhibit A hereto
(the Shares and Warrants referred to collectively as the “Securities”). The purchase price for each Security shall be $3.62125 (the “Purchase Price”), which is the sum of (i) $3.59 (the
“Stock Purchase Price”), the consolidated closing bid price of the Common Stock as reported on Nasdaq (symbol “HZNP”) on the date of this Agreement, and (ii) $0.03125. For each Share purchased by a
Purchaser, such Purchaser shall receive a Warrant to purchase 0.25 of a share of Common Stock at an exercise price per share equal to $4.308 pursuant to a Warrant substantially in the form attached as Exhibit C hereto. 

1.2 Payment. At the Closing, each Purchaser will pay the aggregate Purchase Price set forth opposite its name on Exhibit
A hereto by wire transfer of immediately available funds in accordance with wire instructions provided by the Company to the Purchasers prior to the Closing. On or before the Closing, the Company will instruct its transfer agent to deliver stock
certificates to the Purchasers representing the Shares set forth on Exhibit A and will deliver Warrants against delivery of the aggregate Purchase Price on the Closing Date. The foregoing notwithstanding, if the Purchaser has indicated to the
Company at the time of execution of this Agreement a need to settle “delivery versus payment”, the Company shall deliver to such Purchaser or such Purchaser’s designated custodian the original stock certificates and Warrants on or
prior to the Closing and, upon receipt, the Purchaser shall wire the aggregate Purchase Price as provided in the first sentence of this Section 1.2. 
 1.3 Closing Date. The closing of the transaction contemplated by this Agreement will take place on March 2, 2012 (the “Closing Date”) and the closing (the
“Closing”) will be held at the offices of Cooley LLP, 4401 Eastgate Mall, San Diego, CA 92121 or at such other time and place as shall be agreed upon by the Company and the Purchasers hereunder of a majority in interest of the
Securities. 

  
 1 

 ARTICLE 2 
 REPRESENTATIONS AND WARRANTIES OF THE COMPANY 
 Except as specifically
contemplated by this Agreement, the Company hereby represents and warrants to the Purchasers that: 
 2.1 Organization
and Qualification. The Company is duly incorporated, validly existing and in good standing under the laws of the State of Delaware, with full corporate power and authority to conduct its business as currently conducted as disclosed in the SEC
Documents. The Company is duly qualified to do business and is in good standing in every jurisdiction in which the nature of the business conducted by it or property owned by it makes such qualification necessary, except where the failure to be so
qualified or in good standing, as the case may be, would not reasonably be expected to have a Material Adverse Effect. 
 2.2
Authorization; Enforcement. The Company has all requisite corporate power and authority to enter into and to perform its obligations under this Agreement, to consummate the transactions contemplated hereby and to issue the Securities in
accordance with the terms hereof. The execution, delivery and performance of this Agreement by the Company and the consummation by it of the transactions contemplated hereby (including the issuance of the Securities) have been duly authorized by the
Company’s Board of Directors or a duly authorized committee thereof and no further consent or authorization of the Company, its Board of Directors, or its stockholders is required. This Agreement has been duly executed by the Company and
constitutes a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, or moratorium or similar
laws affecting creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general principles of equity and except as rights to indemnity and contribution may be limited by state or federal
securities laws or public policy underlying such laws. 
 2.3 Capitalization. The authorized capital stock of the
Company, as of January 31, 2012, consisted of 200,000,000 shares of Common Stock, $0.0001 par value per share, of which 19,627,744 shares were issued and outstanding, and 10,000,000 shares of blank check Preferred Stock, $0.0001 par value per
share, none of which have been designated. All of the issued and outstanding shares of Common Stock have been duly authorized, validly issued, fully paid, and nonassessable. Options to purchase an aggregate of 2,532,262 shares of Common Stock,
restricted stock units covering an aggregate of 814,890 shares of Common Stock and warrants to purchase an aggregate of 377,370 shares of Common Stock were outstanding as of January 31, 2012. Except as disclosed in or contemplated by the SEC
Documents, the Company does not have outstanding any options to purchase, or any preemptive rights or other rights to subscribe for or to purchase, any securities or obligations convertible into, or any contracts or commitments to issue or sell,
shares of its capital stock or any such options, rights, convertible securities or obligations other than options granted under the Company’s stock option plans and its employee stock purchase plan. The Company’s Amended and Restated
Certificate of Incorporation (the “Certificate of Incorporation”), as in effect on the date hereof, and the Company’s Amended and Restated Bylaws (the “Bylaws”) as in effect on the date hereof,
are each filed as exhibits to the SEC Documents. 
 2.4 Issuance of Securities. The Shares and all of the shares
of Common Stock issuable upon exercise of the Warrants (the “Warrant Shares”) are duly authorized and, upon issuance in accordance with the terms of this Agreement (and in case of the Warrant Shares, the Warrants), will be
validly issued, fully paid and non-assessable and will not be subject to preemptive rights or other similar rights of stockholders of the Company. 
 2.5 No Conflicts; Government Consents and Permits. 
 (a) The
execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby (including the issuance of the Securities) will not (i) conflict with or result in a violation of
any provision of its Certificate of Incorporation or Bylaws or require the approval of the Company’s stockholders, (ii) violate or conflict with, or result in a breach of any 

  
 2 

 
provision of, or constitute a default under, any agreement, indenture, or instrument to which the Company is a party, or (iii) result in a violation of any law, rule, regulation, order,
judgment or decree (including United States federal and state securities laws and regulations and regulations of any self-regulatory organizations to which the Company or its securities are subject) applicable to the Company, except in the case of
clauses (ii) and (iii) only, for such conflicts, breaches, defaults, and violations as would not reasonably be expected to have a Material Adverse Effect. For purposes of this Section 2.5(a), the violation by the Company of any
listing or related agreement with any stock exchange on which any of the Company’s securities are traded will be deemed to constitute a Material Adverse Effect. 
 (b) The Company is not required to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency or any regulatory or self regulatory
agency in order for it to execute, deliver or perform any of its obligations under this Agreement in accordance with the terms hereof, or to issue and sell the Securities in accordance with the terms hereof other than such as have been made or
obtained, and except for the registration of the Shares and Warrant Shares under the Securities Act pursuant to Section 6 hereof, any filings required to be made under federal or state securities laws, and any required filings or notifications
regarding the issuance or listing of additional shares with Nasdaq. 
 (c) The Company has all franchises, permits,
licenses, and any similar authority necessary for the conduct of its business as now being conducted by it and as currently proposed to be conducted as disclosed in the SEC Documents, except for such franchise, permit, license or similar authority,
the lack of which would not reasonably be expected to have a Material Adverse Effect. The Company has not received any actual notice of any proceeding relating to revocation or modification of any such franchise, permit, license, or similar
authority except where such revocation or modification would not reasonably be expected to have a Material Adverse Effect. 

2.6 SEC Documents, Financial Statements. The Company has timely filed all reports, schedules, forms, statements and other
documents required to be filed by it with the SEC since July 28, 2011, pursuant to the reporting requirements of the Exchange Act (all of the foregoing filed prior to the date hereof, as well as the Company’s registration statement on Form
S-1 (File No. 333-168504), as amended, and all exhibits included therein and financial statements and schedules thereto and documents (other than exhibits) incorporated by reference therein that were filed prior to the date hereof, being
hereinafter referred to herein as the “SEC Documents”). The Company has delivered to each Purchaser, or each Purchaser has had access to, true and complete copies of the SEC Documents. As of their respective dates, the SEC
Documents complied in all material respects with the requirements of the Exchange Act or the Securities Act, as the case may be, and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents, and none of the SEC
Documents, at the time they were filed with the SEC, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading. As of their respective dates, the Financial Statements and the related notes complied as to form in all material respects with applicable accounting requirements and the published rules and
regulations of the SEC with respect thereto. The Financial Statements and the related notes have been prepared in accordance with accounting principles generally accepted in the United States, consistently applied, during the periods involved
(except (i) as may be otherwise indicated in the Financial Statements or the notes thereto, or (ii) in the case of unaudited interim statements, to the extent they may not include footnotes, may be condensed or summary statements or may
conform to the SEC’s rules and instructions for Reports on Form 10-Q) and fairly present in all material respects the consolidated financial position of the Company as of the dates thereof and the consolidated results of its operations and cash
flows for the periods then ended (subject, in the case of unaudited statements, to normal and recurring year-end audit adjustments). All material agreements that were required to be filed on or prior to the date hereof as exhibits to the SEC
Documents under Item 601 of Regulation S-K to which the Company or any Subsidiary of the Company is a party, or the property or assets of the Company or any Subsidiary of the Company are subject, have been filed as exhibits to the SEC Documents
(all such material agreements, together with the agreements dated February 22, 2012 and described in the Company’s Form 8-K filed with the SEC on February 22, 2012, being hereinafter referred to as the “Material
Agreements”). All Material Agreements are valid and enforceable against the Company in accordance with their respective terms, except (i) as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, or
moratorium or similar laws affecting creditors’ and contracting parties’ rights generally, (ii) as enforceability may be subject to general principles of equity and except as rights to indemnity and contribution may be limited by
state or federal securities laws or public policy underlying such laws and (iii) as otherwise described in the SEC Documents. The Company is not in breach of or default under any of the 

  
 3 

 
Material Agreements, and to the Company’s knowledge, no other party to a Material Agreement is in breach of or default under such Material Agreement, except in each case, for such breaches
or defaults as would not reasonably be expected to have a Material Adverse Effect. The Company has not received a notice of termination nor is the Company otherwise aware of any threats to terminate any of the Material Agreements. 

2.7 Disclosure Controls and Procedures. Except as disclosed in the SEC Documents, the Company has established and maintains
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) that are effective in all material respects to ensure that material information relating to the Company, including any consolidated Subsidiaries, is made
known to its chief executive officer and chief financial officer by others within those entities. The Company’s certifying officers have evaluated the effectiveness of the Company’s disclosure controls and procedures as of the end of the
period covered by the most recently filed quarterly or annual periodic report under the Exchange Act (such date, the “Evaluation Date”). The Company presented in its most recently filed quarterly or annual periodic report
under the Exchange Act the conclusions of the certifying officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date. Since the Evaluation Date, there have been no significant
changes in the Company’s internal control over financial reporting (as such term is defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) or, to the Company’s knowledge, in other factors that could significantly affect the Company’s
internal control over financial reporting. 
 2.8 Accounting Controls. Except as disclosed in the SEC Documents,
the Company maintains a system of internal accounting controls sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management’s general or specific authorization, (ii) transactions are
recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles as applied in the United States and to maintain accountability for assets, (iii) access to assets is permitted only
in accordance with management’s general or specific authorization, and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

 2.9 Absence of Litigation. As of the date hereof, there is no action, suit, proceeding or investigation before
or by any court, public board, government agency, self-regulatory organization or body pending or, to the Company’s knowledge, threatened against the Company that if determined adversely to the Company would reasonably be expected to have a
Material Adverse Effect or would reasonably be expected to impair the ability of the Company to perform its obligations under this Agreement. Neither the Company, nor any director or officer thereof, is or has been the subject of any action
involving a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty relating to the Company. There has not been, and to the knowledge of the Company, there is not pending or contemplated, any
investigation by the SEC of the Company or any current or former director or officer of the Company. The Company has not received any stop order or other order suspending the effectiveness of any registration statement filed by the Company under the
Exchange Act or the Securities Act and, to the Company’s knowledge, the SEC has not issued any such order. 
 2.10
Intellectual Property Rights. The Company and its Subsidiaries own, possess or can acquire on reasonable terms sufficient trademarks, trademark applications, service marks, service names, trade names, patents, patent applications, patent
rights, inventions, know-how, copyrights, domain names, licenses, approvals, trade secrets and other similar rights reasonably necessary to conduct their businesses as now conducted and, to the knowledge of the Company, as proposed to be conducted
as described in the SEC Documents (the “Intellectual Property”); except to the extent failure to own, possess or acquire such Intellectual Property would not result in a Material Adverse Effect. To the Company’s
knowledge, neither the Company nor any of its Subsidiaries has infringed the intellectual property rights of third parties and no third party, to the Company’s knowledge, is infringing the Intellectual Property, in each case, which could
reasonably be expected to result in a Material Adverse Effect. Except as disclosed in the SEC Documents, there are no material options, licenses or agreements relating to the Intellectual Property, nor is the Company bound by or a party to any
material options, licenses or agreements relating to the patents, patent applications, patent rights, inventions, know-how, trade secrets, trademarks, trademark applications, service marks, service names, trade names or copyrights of any other
person or entity. Except as described in the SEC Documents, there is no material claim or action or proceeding pending or, to the Company’s knowledge, threatened that challenges any of the rights of the Company in or to, or otherwise with
respect to, any Intellectual Property. 

  
 4 

 2.11 Placement Agents. The Company has taken no action that would give rise to
any claim by any person for brokerage commissions, placement agent’s fees or similar payments relating to this Agreement or the transactions contemplated hereby, except for dealings with the Placement Agents, whose commissions and fees will be
paid by the Company. 
 2.12 Investment Company. The Company is not and, after giving effect to the offering and
sale of the Securities, will not be an “investment company” as such term is defined in the Investment Company Act of 1940, as amended (the “Investment Company Act”). The Company shall conduct its business in a
manner so that it will not become subject to the Investment Company Act. 
 2.13 No Material Adverse Change. Since
September 30, 2011, except as described or referred to in the SEC Documents and except for cash expenditures in the ordinary course of business, there has not been any change in the assets, business, properties, financial condition or results
of operations of the Company that would reasonably be expected to have a Material Adverse Effect. Since September 30, 2011, (i) there has not been any dividend or distribution of any kind declared, set aside for payment, paid or made by
the Company on any class of capital stock, (ii) the Company has not sustained any material loss or interference with the Company’s business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any
labor disturbance or dispute or any action, order or decree of any court or arbitrator or governmental or regulatory authority, and (iii) the Company has not incurred any material liabilities except in the ordinary course of business.

 2.14 The Nasdaq Global Market. The Common Stock is listed on The Nasdaq Global Market, and, except as disclosed
in the SEC Documents, to the Company’s knowledge, there are no proceedings to revoke or suspend such listing or the listing of the Shares and the Warrant Shares. The Company is in compliance with the requirements of Nasdaq for continued listing
of the Common Stock thereon and any other Nasdaq listing and maintenance requirements, and the execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby
(including the issuance of the Securities) will not result in any noncompliance by the Company with any such requirements. 

2.15 Acknowledgment Regarding Purchasers’ Purchase of Securities. The Company acknowledges and agrees that each of the
Purchasers is acting solely in the capacity of an arm’s length purchaser with respect to this Agreement and the transactions contemplated hereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary
of the Company (or in any similar capacity with respect to the Company) with respect to this Agreement and the transactions contemplated hereby and any advice given by any Purchaser or any of their respective representatives or agents to the Company
in connection with this Agreement and the transactions contemplated hereby is merely incidental to such Purchaser’s purchase of the Securities. The Company further represents to each Purchaser that the Company’s decision to enter into this
Agreement has been based on the independent evaluation of the transactions contemplated hereby by the Company and its representatives. 
 2.16 Accountants. PricewaterhouseCoopers LLP, who will express their opinion with respect to the audited financial statements and schedules to be included as a part of any Registration
Statement prior to the filing of any such Registration Statement, are independent accountants as required by the Securities Act. 
 2.17 Insurance. The Company is insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as the Company believes are prudent and customary
for a company (i) in the businesses and location in which the Company is engaged, (ii) with the resources of the Company, and (iii) at a similar stage of development as the Company. The Company has not received any written notice that
the Company will not be able to renew its existing insurance coverage as and when such coverage expires. The Company believes it will be able to obtain similar coverage at reasonable cost from similar insurers as may be necessary to continue its
business. 
 2.18 Foreign Corrupt Practices. Since January 1, 2007, neither the Company, its Subsidiaries,
nor to the Company’s knowledge, any director, officer, agent, employee or other person acting on behalf of the Company or any Subsidiary has, in the course of its actions for, or on behalf of, the Company or any Subsidiary (i) used any
corporate funds for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from
corporate funds; (iii) violated or is in violation of in any material respect any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended; or (iv) made any unlawful bribe, rebate, payoff, influence payment, kickback or
other unlawful payment to any foreign or domestic government official or employee. 

  
 5 

 2.19 Private Placement. Neither the Company nor its Subsidiaries or any
affiliates, nor any person acting on its or their behalf, has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under any circumstances that would require registration of the Securities
under the Securities Act. Assuming the accuracy of the representations and warranties of the Purchasers contained in Article 3 hereof, the issuance of the Securities and the Warrant Shares are exempt from registration under the Securities Act.

 2.20 No Registration Rights. No person has the right to (i) prohibit the Company from filing a
Registration Statement or (ii) other than as disclosed in the SEC Documents, require the Company to register any securities for sale under the Securities Act by reason of the filing of a Registration Statement except in the case of clause
(ii) for rights which have been properly waived. The granting and performance of the registration rights under this Agreement will not violate or conflict with, or result in a breach of any provision of, or constitute a default under, any
agreement, indenture, or instrument to which the Company is a party. 
 2.21 Taxes. The Company has filed (or has
obtained an extension of time within which to file) all necessary federal, state and foreign income and franchise tax returns and has paid all taxes shown as due on such tax returns, except where the failure to so file or the failure to so pay would
not reasonably be expected to have a Material Adverse Effect. 
 2.22 Real and Personal Property. The Company has
good and marketable title to, or has valid rights to lease or otherwise use, all items of real and personal property that are material to the business of the Company free and clear of all liens, encumbrances, claims and defects and imperfections of
title except those that (i) do not materially interfere with the use of such property by the Company, (ii) are described in the SEC Documents or (iii) would not reasonably be expected to have a Material Adverse Effect. 

2.23 Application of Takeover Protections. The execution and delivery of this Agreement and the consummation of the
transactions contemplated hereby will not impose any restriction on any Purchaser, or create in any party (including any current stockholder of the Company) any rights, under any share acquisition, business combination, poison pill (including any
distribution under a rights agreement), or other similar anti-takeover provisions under the Company’s charter documents or the laws of its state of incorporation. 
 2.24 No Manipulation of Stock. The Company has not taken, nor will it take, directly or indirectly any action designed to stabilize or manipulate the price of the Common Stock or any
security of the Company to facilitate the sale or resale of any of the Shares. 
 2.25 Related Party Transactions.
Except with respect to the transactions (i) that are not required to be disclosed and (ii) contemplated hereby to the extent an affiliate of any director purchases Securities hereunder, all transactions that have occurred between or among
the Company, on the one hand, and any of its officers or directors, or any affiliate or affiliates of any such officer or director, on the other hand, prior to the date hereof have been disclosed in the SEC Documents. 

2.26 Use of Proceeds. The Company shall use the net proceeds of the sale of the Securities under this Agreement for
research, development, sales and marketing of the Company’s products and product candidates, working capital and general corporate purposes, including any required repayments of indebtedness. 

ARTICLE 3 

PURCHASER’S REPRESENTATIONS AND WARRANTIES 
 Each Purchaser represents and warrants to the Company, severally and not jointly, with respect to itself and its purchase hereunder, that: 

3.1 Investment Purpose. The Purchaser is purchasing the Securities for its own account and not with a present view toward
the public sale or distribution thereof and has no intention of selling or distributing any of 

  
 6 

 
such Securities or any arrangement or understanding with any other persons regarding the sale or distribution of such Securities except in accordance with the provisions of Article 6 and except
as would not result in a violation of the Securities Act. The Purchaser will not, directly or indirectly, offer, sell, pledge, transfer or otherwise dispose of (or solicit any offers to buy, purchase or otherwise acquire or take a pledge of) any of
the Securities except in accordance with the provisions of Article 6 or pursuant to and in accordance with the Securities Act. 

3.2 Reliance on Exemptions. The Purchaser understands that the Securities are being offered and sold to it in reliance upon
specific exemptions from the registration requirements of United States federal and state securities laws. 
 3.3
Information. The Purchaser has been furnished with all relevant materials relating to the business, finances and operations of the Company necessary to make an investment decision, and materials relating to the offer and sale of the
Securities, that have been requested by the Purchaser, including, without limitation, the Company’s SEC Documents, and the Purchaser has had the opportunity to review the SEC Documents. The Purchaser has been afforded the opportunity to ask
questions of the Company. Neither such inquiries nor any other investigation conducted by or on behalf of such Purchaser or its representatives or counsel shall modify, amend or affect such Purchaser’s right to rely on the truth, accuracy and
completeness of the SEC Documents and the Company’s representations and warranties contained in the Agreement. 
 3.4
Acknowledgement of Risk. 
 (a) The Purchaser acknowledges and understands that its investment in the Securities
involves a significant degree of risk, including, without limitation, (i) an investment in the Company is speculative, and only Purchasers who can afford the loss of their entire investment should consider investing in the Company and the
Securities; (ii) the Purchaser may not be able to liquidate its investment; (iii) transferability of the Securities is extremely limited; (iv) in the event of a disposition of the Securities, the Purchaser could sustain the loss of
its entire investment; and (v) the Company has not paid any dividends on its Common Stock since inception and does not anticipate the payment of dividends in the foreseeable future. Such risks are more fully set forth in the SEC Documents;

 (b) The Purchaser is able to bear the economic risk of holding the Securities for an indefinite period, and has
knowledge and experience in financial and business matters such that it is capable of evaluating the risks of the investment in the Securities; and 
 (c) The Purchaser has, in connection with the Purchaser’s decision to purchase Securities, not relied upon any representations or other information (whether oral or written) other than as set
forth in the representations and warranties of the Company contained herein and the SEC Documents, and the Purchaser has, with respect to all matters relating to this Agreement and the offer and sale of the Securities, relied solely upon the advice
of such Purchaser’s own counsel and has not relied upon or consulted any counsel to the Placement Agents or counsel to the Company. 
 3.5 Governmental Review. The Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed upon or made any recommendation or
endorsement of the Securities or an investment therein. 
 3.6 Transfer or Resale. The Purchaser understands that:

 (a) the Securities have not been and are not being registered under the Securities Act (other than as contemplated in
Article 6) or any applicable state securities laws and, consequently, the Purchaser may have to bear the risk of owning the Securities for an indefinite period of time because the Securities may not be transferred unless (i) the resale of the
Securities is registered pursuant to an effective registration statement under the Securities Act, as contemplated in Article 6; (ii) the Purchaser has delivered to the Company an opinion of counsel (in form, substance and scope customary
for opinions of counsel in comparable transactions) to the effect that the Securities to be sold or transferred may be sold or transferred pursuant to an exemption from such registration; or (iii) the Securities are sold or transferred pursuant
to Rule 144; 

  
 7 

 (b) any sale of the Securities made in reliance on Rule 144 may be made only in
accordance with the terms of Rule 144 and, if Rule 144 is not applicable, any resale of the Securities under circumstances in which the seller (or the person through whom the sale is made) may be deemed to be an underwriter (as that term is defined
in the Securities Act) may require compliance with some other exemption under the Securities Act or the rules and regulations of the SEC thereunder; and 
 (c) except as set forth in Article 6, neither the Company nor any other person is under any obligation to register the resale of the Shares or the Warrant Shares under the Securities Act or any
state securities laws or to comply with the terms and conditions of any exemption thereunder. 
 3.7 Legends. 

(a) The Purchaser understands the certificates representing the Securities will bear a restrictive legend in substantially the
following form (and a stop-transfer order may be placed against transfer of the certificates for such Securities): 
 THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THE SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED,
TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER APPLICABLE SECURITIES LAWS, OR UNLESS OFFERED, SOLD, PLEDGED, HYPOTHECATED OR TRANSFERRED PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THOSE LAWS. THE COMPANY SHALL BE ENTITLED TO REQUIRE AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED TO THE EXTENT THAT SUCH OPINION IS REQUIRED PURSUANT TO THAT CERTAIN SECURITIES PURCHASE
AGREEMENT UNDER WHICH THE SECURITIES WERE ISSUED. 
 (b) To the extent the resale of Shares or Warrant Shares is
registered under the Securities Act pursuant to an effective Registration Statement naming the holder thereof as a selling stockholder, the Company agrees to promptly (i) authorize the removal of the legend set forth in Section 3.8(a) and
any other legend not required by applicable law from such Shares and/or Warrant Shares and (ii) cause its transfer agent to issue such Shares and/or Warrant Shares without such legends to the holder thereof by electronic delivery at the
applicable balance account at the Depository Trust Company upon surrender of any stock certificates evidencing such Shares or Warrant Shares. Any fees (with respect to the Company’s transfer agent, counsel or otherwise) associated with the
removal of such legend(s) shall be borne by the Company. The Purchaser hereby covenants and agrees that to the extent resales of the Shares or Warrant Shares are made pursuant to such effective Registration Statement, that such resales will be made
only during the time that such Registration Statement is effective and not withdrawn or suspended and only as permitted by such Registration Statement, and otherwise in compliance with the Securities Act (including applicable prospectus delivery
obligations). 
 (c) The Purchaser may request that the Company remove, and the Company agrees to authorize the removal
of any legend from the Shares and Warrant Shares (i) following any sale of the Shares or Warrant Shares pursuant to Rule 144, or (ii) if such Shares or Warrant Shares are eligible for sale under Rule 144 following the expiration of the
one-year holding requirement under subparagraphs (b)(1)(i) and (d) thereof. Following the time a legend is no longer required for the Shares or Warrant Shares under this Section 3.8(c), the Company will, no later than three Business Days
following the delivery by a Purchaser to the Company or the Company’s transfer agent of a legended certificate representing such securities, deliver or cause to be delivered to such Purchaser a certificate representing such securities that is
free from all restrictive and other legends. 
 3.8 Authorization; Enforcement. The Purchaser has the requisite
power and authority to enter into this Agreement and to consummate the transactions contemplated hereby. The Purchaser has taken all necessary action to authorize the execution, delivery and performance of this Agreement. Upon the execution and
delivery of this Agreement, this Agreement shall constitute a valid and binding obligation of the Purchaser enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general principles of equity and except as rights to indemnity and contribution may be limited by
state or federal securities laws or public policy underlying such laws. 

  
 8 

 3.9 Residency. The Purchaser is a resident of the jurisdiction set forth
immediately below such Purchaser’s name on the signature pages hereto. 
 3.10 No Short Sales. Between the
time the Purchaser learned about the Offering and the public announcement of the Offering, the Purchaser has not engaged in any short sales or similar transactions with respect to the Common Stock, nor has the Purchaser, directly or indirectly,
caused any Person to engage in any short sales or similar transactions with respect to the Common Stock. 
 3.11
Acknowledgements Regarding Placement Agents. The Purchaser acknowledges that the Placement Agents are acting as the exclusive placement agents on a “best efforts” basis for the Securities being offered hereby and will be compensated
by the Company for acting in such capacity. The Purchaser represents that (i) the Purchaser, unless affiliated with a member of the Company’s Board of Directors, was contacted regarding the sale of the Securities by the Placement Agent (or
an authorized agent or representative thereof) with whom the Purchaser entered into a confidentiality agreement and (ii) to its knowledge no Securities were offered or sold to it by means of any form of general solicitation or general
advertising. 
 3.12 Beneficial Ownership. Assuming the accuracy of the Company’s representation in
Section 2.3 hereof and assuming that no additional shares of capital stock have been issued by the Company since January 31, 2012, the purchase by such Purchaser of the Shares and Warrants hereunder will not result in such Purchaser
(individually or together with any other Person with whom such Purchaser has identified, or will have identified, itself as part of a “group” in a public filing made with the SEC involving the Company’s securities) acquiring, or
obtaining the right to acquire, in excess of 19.99% of the outstanding shares of Common Stock or the voting power of the Company on a post-transaction basis that assumes that the Closing shall have occurred. Such Purchaser does not presently intend
to, alone or together with others, make a public filing with the SEC to disclose that it has (or that it together with such other Persons have) acquired, or obtained the right to acquire, as a result of the purchase by such Purchaser of the Shares
and Warrants hereunder (when added to any other securities of the Company that it or they then own or have the right to acquire), in excess of 19.99% of the outstanding shares of Common Stock or the voting power of the Company on a post-transaction
basis that assumes that the Closing has occurred. 
 3.13 Purchaser Status. At the time such Purchaser was offered
the Shares and Warrants, it was, and at the date hereof it is, an “accredited investor” as defined in Rule 510(a) of the Securities Act. 
 ARTICLE 4 
 COVENANTS 

4.1 Reporting Status. The Company’s Common Stock is registered under Section 12 of the Exchange Act. During the
Registration Period, the Company will timely file all documents with the SEC, and the Company will not terminate its status as an issuer required to file reports under the Exchange Act even if the Exchange Act or the rules and regulations thereunder
would permit such termination. 
 4.2 Expenses. The Company and each Purchaser is liable for, and will pay, its
own expenses incurred in connection with the negotiation, preparation, execution and delivery of this Agreement, including, without limitation, attorneys’ and consultants’ fees and expenses. 

4.3 Financial Information. The financial statements of the Company to be included in any documents filed with the SEC will
be prepared in accordance with accounting principles generally accepted in the United States, consistently applied (except (i) as may be otherwise indicated in such financial statements or the notes thereto, or (ii) in the case of
unaudited interim statements, to the extent they may not include footnotes, may be condensed or summary statements or may conform to the SEC’s rules and instructions for Reports on Form 10-Q), and will fairly present in all material respects
the consolidated financial position of the Company and consolidated results of its operations and cash flows as of, and for the periods covered by, such financial statements (subject, in the case of unaudited statements, to normal and recurring
year-end audit adjustments). 

  
 9 

 4.4 Securities Laws Disclosure; Publicity. On or before 9:00 a.m., New York
local time, on the Business Day immediately following the date hereof, the Company shall issue a press release announcing the signing of this Agreement and describing the terms of the transactions contemplated by this Agreement. On or before
March 5, 2012, the Company shall file a Current Report on Form 8-K with the SEC describing the terms of the transactions contemplated by this Agreement and including as an exhibit to such Current Report on Form 8-K this Agreement, in the form
required by the Exchange Act. The Company shall not publicly disclose the name of any Purchaser or any affiliate of the Purchaser, or include the name of any Purchaser or an affiliate of the Purchaser in any filing with the SEC (other than in a
Registration Statement and any exhibits to filings made in respect of this transaction in accordance with periodic report or current report filing requirements under the Exchange Act) or any regulatory agency, without the prior written consent of
such Purchaser, except to the extent such disclosure is required by law or regulations, in which case the Company shall provide each Purchaser whose name is to be disclosed with prior notice of such disclosure and a reasonable opportunity to comment
on the proposed disclosure insofar as it relates specifically to such Purchaser. 
 4.5 Sales by Purchasers. Each
Purchaser will sell any Securities and Warrant Shares held by it in compliance with applicable prospectus delivery requirements, if any, or otherwise in compliance with the requirements for an exemption from registration under the Securities Act and
the rules and regulations promulgated thereunder. No Purchaser will make any sale, transfer or other disposition of the Securities in violation of federal or state securities laws. 

4.6 Reservation of Common Stock. The Company shall reserve and keep available at all times during which the Warrants remain
exercisable, free of preemptive rights, a sufficient number of shares of Common Stock for the purpose of enabling the Company to issue Warrant Shares pursuant to this Agreement. 

ARTICLE 5 

CONDITIONS TO CLOSING 
 5.1 Conditions to Obligations of the Company. The Company’s obligation to complete the purchase and sale of the Securities and deliver such stock certificate(s) and Warrants to each
Purchaser is subject to the waiver by the Company or fulfillment as of the Closing Date of the following conditions: 

(a) Receipt of Funds. The Company shall have received immediately available funds in the full amount of the purchase price for
the Securities being purchased hereunder as set forth opposite such Purchaser’s name on Exhibit A hereto. 

(b) Representations and Warranties. The representations and warranties made by each Purchaser in Article 3 shall be true and
correct in all material respects as of the Closing Date. 
 (c) Covenants. All covenants, agreements and conditions
contained in this Agreement to be performed by the Purchasers on or prior to the Closing Date shall have been performed or complied with in all material respects. 
 (d) Blue Sky. The Company shall have obtained all necessary blue sky law permits and qualifications, or secured exemptions therefrom, required by any state for the offer and sale of the Securities.

 (e) Nasdaq Qualification. The Shares to be issued shall be duly authorized for listing by Nasdaq, subject to official
notice of issuance, to the extent required by the rules of Nasdaq. 
 (f) Absence of Litigation. No proceeding
challenging this Agreement or the transactions contemplated hereby, or seeking to prohibit, alter, prevent or materially delay the Closing, shall have been instituted or be pending before any court, arbitrator, governmental body, agency or official.

  
 10 

 (g) No Governmental Prohibition. The sale of the Securities by the Company shall not
be prohibited by any law or governmental order or regulation. 
 5.2 Conditions to Purchasers’ Obligations at the
Closing. Each Purchaser’s obligation to complete the purchase and sale of the Securities is subject to the waiver by such Purchaser or fulfillment as of the Closing Date of the following conditions: 

(a) Representations and Warranties. The representations and warranties made by the Company in Article 2 shall be true and correct
in all material respects as of the Closing Date. 
 (b) Covenants. All covenants, agreements and conditions contained in
this Agreement to be performed by the Company on or prior to the Closing Date shall have been performed or complied with in all material respects. 
 (c) Blue Sky. The Company shall have obtained all necessary blue sky law permits and qualifications, or secured exemptions therefrom, required by any state or foreign or other jurisdiction for the
offer and sale of the Securities. 
 (d) Legal Opinion. The Company shall have delivered to such Purchaser an opinion,
dated as of the Closing Date, from Cooley LLP, counsel to the Company, in substantially the form attached hereto as Exhibit D hereto. 
 (e) Transfer Agent Instructions. The Company shall have delivered to its transfer agent irrevocable instructions to issue to such Purchaser or in such nominee name(s) as designated by such
Purchaser in writing one or more certificates representing such Shares set forth opposite such Purchaser’s name on Exhibit A hereto; provided, however, that if such Purchaser has indicated to the Company at the time of execution
of this Agreement a need to settle “delivery versus payment”, the Company shall deliver to such Purchaser or such Purchaser’s designated custodian such original stock certificates and Warrants to be acquired by such Purchaser.

 (f) Nasdaq Qualification. The Shares shall be duly authorized for listing by Nasdaq, subject to official notice of
issuance, to the extent required by the rules of Nasdaq. 
 (g) Absence of Litigation. No proceeding challenging this
Agreement or the transactions contemplated hereby, or seeking to prohibit, alter, prevent or materially delay the Closing, shall have been instituted or be pending before any court, arbitrator, governmental body, agency or official. 

(h) No Governmental Prohibition. The sale of the Shares by the Company shall not be prohibited by any law or governmental order
or regulation. 
 (i) Minimum Aggregate Investment. The Company shall have received at the Closing at least $45 million
of aggregate gross proceeds from the sale of Securities hereunder. 
 ARTICLE 6 

REGISTRATION RIGHTS 
 6.1 As soon as reasonably practicable, but in no event later than 45 days after the Closing Date (the “Filing Date”), the Company shall file a registration statement
covering the resale of the Registrable Securities with the SEC for an offering to be made on a continuous basis pursuant to Rule 415, or if Rule 415 is not available for offers and sales of the Registrable Securities, by such other means of
distribution of Registrable Securities as the Holders of a majority of the Registrable Securities may reasonably specify (the “Initial Registration Statement”). The Initial Registration Statement shall be on Form S-3 (except
if the Company is ineligible to register for resale the Registrable Securities on Form S-3, in which case such registration shall be on another appropriate form). In the event the SEC informs the Company that all of the Registrable Securities
cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on a single registration statement, the Company agrees to 

  
 11 

 
promptly (i) inform each of the Holders thereof, (ii) use its reasonable efforts to file amendments to the Initial Registration Statement as required by the SEC and/or
(iii) withdraw the Initial Registration Statement and file a new registration statement (a “New Registration Statement”), in either case covering the maximum number of Registrable Securities permitted to be registered by
the SEC, on Form S-3 or, if the Company is ineligible to register for resale the Registrable Securities on Form S-3, such other form available to register for resale the Registrable Securities as a secondary offering; provided, however,
that prior to filing such amendment or New Registration Statement, the Company shall be obligated to use its reasonable efforts to advocate with the SEC for the registration of all of the Registrable Securities on the Initial Registration Statement.
In the event the Company amends the Initial Registration Statement or files a New Registration Statement, as the case may be, under clauses (ii) or (iii) above, the Company will use its reasonable efforts to file with the SEC, as promptly
as allowed by the SEC, one or more registration statements on Form S-3 or, if the Company is ineligible to register for resale the Registrable Securities on Form S-3, such other form available to register for resale those Registrable Securities that
were not registered for resale on the Initial Registration Statement, as amended, or the New Registration Statement (the “Remainder Registration Statements”). Notwithstanding any other provision of this Agreement and subject
to the payment of damages in Section 6.3, if the SEC limits the number of Registrable Securities permitted to be registered on a particular Registration Statement (and notwithstanding that the Company used diligent efforts to advocate with the
SEC for the registration of all or a greater number of Registrable Securities), any required cutback of Registrable Securities shall be applied to the Holders pro rata in accordance with the number of such Registrable Securities sought to be
included in such Registration Statement by reference to the amount of Registrable Securities set forth opposite such Holder’s name on Exhibit A and/or Exhibit B (and in the case of a subsequent transfer, the initial Holder’s)
relative to the aggregate amount of all Registrable Securities. In the event that Form S-3 is not available for the registration of the resale of Registrable Securities hereunder, the Company shall (i) register the resale of the
Registrable Securities on another appropriate form and (ii) undertake to register the Registrable Securities on Form S-3 after such form is available, provided that the Company shall maintain the effectiveness of the Registration Statement then
in effect until such time as a Registration Statement on Form S-3 covering the Registrable Securities has been declared effective by the SEC. 
 6.2 All Registration Expenses incurred in connection with any registration, qualification, exemption or compliance pursuant to Section 6.1 shall be borne by the Company. All Selling Expenses
relating to the sale of securities registered by or on behalf of Holders shall be borne by such Holders pro rata on the basis of the number of securities so registered. 
 6.3 The Company further agrees that, in the event that (i) the Initial Registration Statement has not been filed with the SEC within 45 days after the Closing Date, (ii) the Initial
Registration Statement or the New Registration Statement, as applicable, has not been declared effective by the SEC by the Effectiveness Deadline, or (iii) after such Registration Statement is declared effective by the SEC, it is suspended by
the Company or ceases to remain continuously effective as to all Registrable Securities for which it is required to be effective, other than, in each case, within the time period(s) permitted by Section 6.7(b) (each such event referred to in
clauses (i), (ii) and (iii), (a “Registration Default”)), for all or part of any thirty-day period (a “Penalty Period”) during which the Registration Default remains uncured (which initial
thirty-day period shall commence on the fifth Business Day after the date of such Registration Default if such Registration Default has not been cured by such date), the Company shall pay to each Holder 1.5% of such Holder’s aggregate purchase
price of his or her Shares, Warrant Shares and/or Debt Warrant Shares, as applicable, that remain Registrable Securities for which such Registration Statement is required to be effective and for which there is not otherwise an effective Registration
Statement at such time, for each Penalty Period during which the Registration Default remains uncured; provided, however, that if a Holder fails to provide the Company with any information that is required to be provided in such Registration
Statement with respect to such Holder as set forth herein, then the commencement of the Penalty Period described above with respect to such Holder shall be extended until two Business Days following the date of receipt by the Company of such
required information from such Holder; and provided, further, that in no event shall the Company be required hereunder to pay to any Holder pursuant to this Agreement more than 1.5% of such Holder’s aggregate purchase price of all of his
or her securities for which such Registration Statement is required to be effective in any Penalty Period and in no event shall the Company be required hereunder to pay to any Holder pursuant to this Agreement an aggregate amount that exceeds 10.0%
of the aggregate purchase price paid by such Holder for such Holder’s securities. For purposes of clarification, and solely for purposes of calculating the liquidated damages pursuant to this Section 6.3, each Holder’s purchase price
for each Share shall be deemed to be the Stock Purchase Price and each Holder’s purchase price for each Warrant Share or Debt Warrant Share shall be deemed to be $0.125. 

  
 12 

 
The Company shall deliver said cash payment to the Holder by the fifth Business Day after the end of such Penalty Period. If the Company fails to pay said cash payment to any Holder in full by
the fifth Business Day after the end of such Penalty Period, the Company will pay interest thereon at a rate of 12% per annum (or such lesser maximum amount that is permitted to be paid by applicable law, and calculated on the basis of a year
consisting of 360 days) to such Holder, accruing daily from the date such liquidated damages are due until such amounts, plus all such interest thereon, are paid in full. 
 6.4 In the case of the registration, qualification, exemption or compliance effected by the Company pursuant to this Agreement, the Company shall, upon reasonable request, inform each Holder as to
the status of such registration, qualification, exemption and compliance. At its expense the Company shall: 
 (a)
except for such times as the Company is permitted hereunder to suspend the use of the prospectus forming part of a Registration Statement, use its commercially reasonable efforts to keep such registration, and any qualification, exemption or
compliance under state securities laws which the Company determines to obtain, continuously effective with respect to a Holder, and to keep the applicable Registration Statement free of any material misstatements or omissions, until the earlier of
the following: (i) the third anniversary of the Closing Date or (ii) the date all Shares and Warrant Shares held by such Holder may be sold under Rule 144 during any 90 day period, provided that the Common Stock then trades on a national
securities exchange and such Holder owns less than 1% of the Company’s outstanding capital stock. The period of time during which the Company is required hereunder to keep a Registration Statement effective is referred to herein as the
“Registration Period.” 
 (b) advise the Holders within five Business Days: 

(i) when a Registration Statement or any amendment thereto has been filed with the SEC and when such Registration Statement or
any post-effective amendment thereto has become effective; 
 (ii) of any request by the SEC for amendments or
supplements to any Registration Statement or the prospectus included therein or for additional information; 
 (iii) of
the issuance by the SEC of any stop order suspending the effectiveness of any Registration Statement or the initiation of any proceedings for such purpose; 
 (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable Securities included therein for sale in any jurisdiction or the
initiation or threatening of any proceeding for such purpose; and 
 (v) of the occurrence of any event that requires
the making of any changes in any Registration Statement or prospectus so that, as of such date, the statements therein are not misleading and do not omit to state a material fact required to be stated therein or necessary to make the statements
therein (in the case of a prospectus, in the light of the circumstances under which they were made) not misleading; 

(c) use its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any
Registration Statement as soon as reasonably practicable; 
 (d) if a Holder so requests in writing, promptly furnish to
each such Holder, without charge, at least one copy of each Registration Statement and each post-effective amendment thereto, including financial statements and schedules, and, if explicitly requested, all exhibits in the form filed with the SEC;

 (e) during the Registration Period, promptly deliver to each such Holder, without charge, as many copies of each
prospectus included in a Registration Statement and any amendment or supplement thereto as such Holder may reasonably request in writing; and the Company consents to the use, consistent with the provisions hereof, of the prospectus or any amendment
or supplement thereto by each of the selling Holders of Registrable Securities in connection with the offering and sale of the Registrable Securities covered by a prospectus or any amendment or supplement thereto; 

  
 13 

 (f) during the Registration Period, if a Holder so requests in writing, deliver to
each Holder, without charge, (i) one copy of the following documents, other than those documents available via EDGAR: (A) its annual report to its stockholders, if any (which annual report shall contain financial statements audited in
accordance with generally accepted accounting principles in the United States of America by a firm of certified public accountants of recognized standing), (B) if not included in substance in its annual report to stockholders, its annual report
on Form 10-K (or similar form), (C) its definitive proxy statement with respect to its annual meeting of stockholders, (D) each of its quarterly reports to its stockholders, and, if not included in substance in its quarterly reports to
stockholders, its quarterly report on Form 10-Q (or similar form), and (E) a copy of each full Registration Statement (the foregoing, in each case, excluding exhibits); and (ii) if explicitly requested, all exhibits excluded by the
parenthetical to the immediately preceding clause (E); 
 (g) prior to any public offering of Registrable Securities
pursuant to any Registration Statement, promptly take such actions as may be necessary to register or qualify or obtain an exemption for offer and sale under the securities or blue sky laws of such United States jurisdictions as any such Holders
reasonably request in writing, provided that the Company shall not for any such purpose be required to qualify generally to transact business as a foreign corporation in any jurisdiction where it is not so qualified or to consent to general service
of process in any such jurisdiction, and do any and all other acts or things reasonably necessary or advisable to enable the offer and sale in such jurisdictions of the Registrable Securities covered by any such Registration Statement; 

(h) upon the occurrence of any event contemplated by Section 6.4(b)(v) above, except for such times as the Company is
permitted hereunder to suspend, and has suspended, the use of a prospectus forming part of a Registration Statement, the Company shall use its commercially reasonable efforts to as soon as reasonably practicable prepare a post-effective amendment to
such Registration Statement or a supplement to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the Registrable Securities included therein, such prospectus will not include any untrue
statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; 

(i) otherwise use its commercially reasonable efforts to comply in all material respects with all applicable rules and
regulations of the SEC which could affect the sale of the Registrable Securities; 
 (j) use its commercially reasonable
efforts to cause all Registrable Securities to be listed on each securities exchange or market, if any, on which equity securities issued by the Company have been listed; 
 (k) use its commercially reasonable efforts to take all other steps necessary to effect the registration of the Registrable Securities contemplated hereby and to enable the Holders to sell
Registrable Securities under Rule 144; 
 (l) provide to each Holder and its representatives, if requested, the
opportunity to conduct a reasonable inquiry of the Company’s financial and other records during normal business hours and make available its officers, directors and employees for questions regarding information which such Holder may reasonably
request in order to fulfill any due diligence obligation on its part; and 
 (m) permit counsel for the Holders to
review any Registration Statement and all amendments and supplements thereto, within two Business Days prior to the filing thereof with the SEC; 
 provided that, in the case of clauses (l) and (m) above, the Company shall not be required (A) to delay the filing of any Registration Statement or any amendment or supplement
thereto as a result of any ongoing diligence inquiry by or on behalf of a Holder or to incorporate any comments to any Registration Statement or any amendment or supplement thereto by or on behalf of a Holder if such inquiry or comments would
require a delay in the filing of such Registration Statement, amendment or supplement, as the case may be, or (B) to provide, and shall not provide, any Holder or its representatives with material, non-public information unless such Holder
agrees to receive such information and enters into a written confidentiality agreement with the Company in a form reasonably acceptable to the Company. 

  
 14 

 6.5 The Holders shall have no right to take any action to restrain, enjoin or
otherwise delay any registration pursuant to Section 6.1 hereof as a result of any controversy that may arise with respect to the interpretation or implementation of this Agreement. 

6.6 (a) To the extent permitted by law, the Company shall indemnify each Holder and each person controlling such Holder
within the meaning of Section 15 of the Securities Act, with respect to which any registration that has been effected pursuant to this Agreement, against all claims, losses, damages and liabilities (or action in respect thereof), including any
of the foregoing incurred in settlement of any litigation, commenced or threatened (subject to Section 6.6(c) below), arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any Registration
Statement, prospectus, any amendment or supplement thereof, or other document prepared by the Company and incident to any such registration, qualification or compliance or based on any omission (or alleged omission) to state therein a material fact
required to be stated therein or necessary to make the statements therein not misleading, in light of the circumstances in which they were made, or any violation by the Company of any rule or regulation promulgated by the Securities Act applicable
to the Company and relating to any action or inaction required of the Company in connection with any such registration, qualification or compliance, and will reimburse each Holder and each person controlling such Holder, for reasonable legal and
other out-of-pocket expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability or action as incurred; provided that the Company will not be liable in any such case to the extent that any untrue
statement or omission or allegation thereof is made in reliance upon and in conformity with written information furnished to the Company by or on behalf of such Holder for use in preparation of any Registration Statement, prospectus, amendment or
supplement; provided further, that the Company will not be liable in any such case where the claim, loss, damage or liability arises out of or is based on the failure of such Holder to comply with the covenants and agreements contained in
this Agreement respecting sales of Registrable Securities, and except that the foregoing indemnity agreement is subject to the condition that, insofar as it relates to any such untrue statement or alleged untrue statement or omission or alleged
omission made in any preliminary prospectus but eliminated or remedied in the amended prospectus on file with the SEC at the time any Registration Statement becomes effective or in an amended prospectus filed with the SEC pursuant to Rule 424(b)
which meets the requirements of Section 10(a) of the Securities Act (each, a “Final Prospectus”), such indemnity shall not inure to the benefit of any such Holder or any such controlling person, if a copy of a Final
Prospectus furnished by the Company to the Holder for delivery was not furnished to the person or entity asserting the loss, liability, claim or damage at or prior to the time such furnishing is required by the Securities Act and a Final Prospectus
would have cured the defect giving rise to such loss, liability, claim or damage. 
 (b) Each Holder will severally, and
not jointly, indemnify the Company, each of its directors and officers, and each person who controls the Company within the meaning of Section 15 of the Securities Act, against all claims, losses, damages and liabilities (or actions in respect
thereof), including any of the foregoing incurred in settlement of any litigation, commenced or threatened (subject to Section 6.6(c) below), arising out of or based on any untrue statement (or alleged untrue statement) of a material fact
contained in any Registration Statement, prospectus, or any amendment or supplement thereof, incident to any such registration, or based on any omission (or alleged omission) to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, in light of the circumstances in which they were made, and will reimburse the Company, such directors and officers, and each person controlling the Company for reasonable legal and any other
expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability or action as incurred, in each case to the extent, but only to the extent, that such untrue statement or omission or allegation
thereof is made in reliance upon and in conformity with written information furnished to the Company by or on behalf of the Holder for use in preparation of any Registration Statement, prospectus, amendment or supplement; provided that the indemnity
shall not apply to the extent that such claim, loss, damage or liability results from the fact that a current copy of a prospectus was not made available to the person or entity asserting the loss, liability, claim or damage at or prior to the time
such furnishing is required by the Securities Act and a Final Prospectus would have cured the defect giving rise to such loss, claim, damage or liability. Notwithstanding the foregoing, a Holder’s aggregate liability pursuant to this subsection
(b) and subsection (d) shall be limited to the net amount received by the Holder from the sale of the Registrable Securities. 
 (c) Each party entitled to indemnification under this Section 6.6 (the “Indemnified Party”) shall give notice to the party required to provide indemnification
(the “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the 

  
 15 

 
Indemnifying Party (at its expense) to assume the defense of any such claim or any litigation resulting therefrom, provided that counsel for the Indemnifying Party, who shall conduct the defense
of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not unreasonably be withheld), and the Indemnified Party may participate in such defense at such Indemnified Party’s expense, and provided further
that the failure of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Agreement, unless such failure is materially prejudicial to the Indemnifying Party in defending such
claim or litigation. An Indemnifying Party shall not be liable for any settlement of an action or claim effected without its written consent (which consent will not be unreasonably withheld). No Indemnifying Party, in its defense of any such claim
or litigation, shall, except with the consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such
Indemnified Party of a release from all liability in respect to such claim or litigation. 
 (d) If the indemnification
provided for in this Section 6.6 is held by a court of competent jurisdiction to be unavailable to an Indemnified Party with respect to any loss, liability, claim, damage or expense referred to therein, then the Indemnifying Party, in lieu of
indemnifying such Indemnified Party thereunder, shall contribute to the amount paid or payable by such Indemnified Party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault
of the Indemnifying Party on the one hand and of the Indemnified Party on the other in connection with the statements or omissions which resulted in such loss, liability, claim, damage or expense as well as any other relevant equitable
considerations. The relative fault of the Indemnifying Party and of the Indemnified Party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material
fact relates to information supplied by the Indemnifying Party or by the Indemnified Party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

6.7 (a) Each Holder agrees that, upon receipt of any notice from the Company of the happening of any event requiring the
preparation of a supplement or amendment to a prospectus relating to Registrable Securities so that, as thereafter delivered to the Holders, such prospectus shall not contain an untrue statement of a material fact or omit to state any material fact
required to be stated therein or necessary to make the statements therein not misleading, each Holder will forthwith discontinue disposition of Registrable Securities pursuant to a Registration Statement and prospectus contemplated by
Section 6.1 until its receipt of copies of the supplemented or amended prospectus from the Company and, if so directed by the Company, each Holder shall deliver to the Company all copies, other than permanent file copies then in such
Holder’s possession, of the prospectus covering such Registrable Securities current at the time of receipt of such notice. 
 (b) Each Holder shall suspend, upon request of the Company, any disposition of Registrable Securities pursuant to any Registration Statement and prospectus contemplated by Section 6.1 during
no more than two periods of no more than 30 calendar days each during any 12-month period to the extent that the Board of Directors of the Company determines in good faith that the sale of Registrable Securities under any such Registration Statement
would be reasonably likely to cause a violation of the Securities Act or Exchange Act, provided that the Company shall not register any securities for the account of itself or any other stockholder during any such 30-day period. 

(c) As a condition to the inclusion of its Registrable Securities, each Holder shall furnish to the Company such information
regarding such Holder and the distribution proposed by such Holder as the Company may reasonably request in writing, including completing a Registration Statement Questionnaire in the form provided by the Company or in a mutually agreeable form, or
as shall be required in connection with any registration referred to in this Article 6. 
 (d) Each Holder hereby
covenants with the Company (i) not to make any sale of the Registrable Securities without effectively causing the prospectus delivery requirements under the Securities Act to be satisfied, and (ii) if such Registrable Securities are to be
sold by any method or in any transaction other than on a national securities exchange or in the over-the-counter market, in privately negotiated transactions, or in a combination of such methods, to notify the Company at least five Business Days
prior to the date on which the Holder first offers to sell any such Registrable Securities. 

  
 16 

 (e) Each Holder agrees not to take any action with respect to any distribution
deemed to be made pursuant to a Registration Statement which would constitute a violation of Regulation M under the Exchange Act or any other applicable rule, regulation or law. 

(f) At the end of the Registration Period the Holders shall discontinue sales of shares pursuant to any Registration Statement
upon receipt of notice from the Company of its intention to remove from registration the shares covered by any such Registration Statement which remain unsold, and such Holders shall notify the Company of the number of shares registered which remain
unsold immediately upon receipt of such notice from the Company. 
 6.8 With a view to making available to the Holders
the benefits of certain rules and regulations of the SEC which at any time permit the sale of the Registrable Securities to the public without registration, so long as the Holders still own Registrable Securities, the Company shall use its
reasonable best efforts to: 
 (a) make and keep public information available, as those terms are understood and defined
in Rule 144 under the Securities Act, at all times; 
 (b) file with the SEC in a timely manner all reports and other
documents required of the Company under the Exchange Act; and 
 (c) so long as a Holder owns any Registrable
Securities, furnish to such Holder, upon any reasonable request, a written statement by the Company as to its compliance with Rule 144 under the Securities Act, and of the Exchange Act, a copy of the most recent annual or quarterly report of the
Company, and such other reports and documents of the Company as such Holder may reasonably request in availing itself of any rule or regulation of the SEC allowing a Holder to sell any such securities without registration. 

6.9 The rights to cause the Company to register Registrable Securities granted to the Holders by the Company under
Section 6.1 may be assigned by a Holder in connection with a transfer by such Holder of all or a portion of its Registrable Securities, provided, however, that such transfer must be made at least ten days prior to the Filing Date and
that (i) such transfer may otherwise be effected in accordance with applicable securities laws; (ii) such Holder gives prior written notice to the Company at least ten days prior to the Filing Date; and (iii) such transferee agrees to
comply with the terms and provisions of this Agreement, and such transfer is otherwise in compliance with this Agreement. Except as specifically permitted by this Section 6.11, the rights of a Holder with respect to Registrable Securities as
set out herein shall not be transferable to any other Person, and any attempted transfer shall cause all rights of such Holder therein to be forfeited. 
 6.10 Prior to the time that Registration Statement(s) covering the resale of all Registrable Securities have been declared effective by the SEC, the Company shall not file with the SEC a
registration statement under the Securities Act of any of its equity securities other than a registration statement required to be filed pursuant to this Agreement, a registration statement on Form S-8 or, in connection with an acquisition, a
registration statement on Form S-4; provided, however, that the foregoing restrictions in this Section 6.10 shall terminate upon such time as all of the Registrable Securities (i) have been publicly sold by the Holders or
(ii) may be sold under Rule 144 during any 90-day period, provided that the Common Stock then trades on a national securities exchange and such Holder owns less than 1% of the Company’s outstanding securities. 

6.11 The rights of any Holder under any provision of this Article 6 may be waived (either generally or in a particular instance,
either retroactively or prospectively and either for a specified period of time or indefinitely) or amended by an instrument in writing signed by such Holder. 

  
 17 

 ARTICLE 7 
 DEFINITIONS 
 7.1 “Agreement” has the
meaning set forth in the preamble. 
 7.2 “Affiliate” means, with respect to any Person (as
defined below), any other Person controlling, controlled by or under direct or indirect common control with such Person (for the purposes of this definition “control,” when used with respect to any specified Person, shall
mean the power to direct the management and policies of such person, directly or indirectly, whether through ownership of voting securities, by contract or otherwise; and the terms “controlling”
and “controlled” shall have meanings correlative to the foregoing). 
 7.3
“Business Day” means a day Monday through Friday on which banks are generally open for business in New York City. 
 7.4 “Bylaws” has the meaning set forth in Section 2.3. 
 7.5 “Certificate of Incorporation” has the meaning set forth in Section 2.3. 
 7.6 “Closing” has the meaning set forth in Section 1.3. 
 7.7 “Closing Date” has the meaning set forth in Section 1.3. 
 7.8 “Common Stock” means the common stock, par value $0.0001 per share, of the Company. 
 7.9 “Company” means Horizon Pharma, Inc. 

7.10 “Debt Warrants” has the meaning set forth in Recital C. 

7.11 “Debt Warrant Shares” means the shares of Common Stock issuable upon exercise of the Debt Warrants.

 7.12 “Effectiveness Deadline” means, with respect to the Initial Registration Statement or the
New Registration Statement, the 90th calendar day following the Closing Date (or, in the event the SEC reviews or has written comments to the Initial Registration Statement or the New Registration Statement, the 120th calendar day following the
Closing Date); provided, however, that if the Company is notified by the SEC that the Initial Registration Statement will not be reviewed or is no longer subject to further review and comments, the Effectiveness Deadline as to such Registration
Statement shall be the 5th Business Day following the date on which the Company is so notified if such date precedes the dates otherwise required above; provided, further, that if the Effectiveness Deadline falls on a Saturday, Sunday or other day
that the SEC is closed for business, the Effectiveness Deadline shall be extended to the next Business Day on which the SEC is open for business. 
 7.13 “Evaluation Date” has the meaning set forth in Section 2.7. 
 7.14 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 7.15 “Filing Date” has the meaning set forth in Section 6.1. 
 7.16 “Final Prospectus” has the meaning set forth in Section 6.6(a). 
 7.17 “Financial Statements” means the financial statements of the Company included in the SEC Documents. 

7.18 “Financing” has the meaning set forth in Section 8.14. 

7.19 “Holders” means any person holding Registrable Securities or any person to whom the rights under
Article 6 have been transferred in accordance with Section 6.9 hereof. 
 7.20 “Indemnified
Party” has the meaning set forth in Section 6.6(c). 
 7.21 “Indemnifying
Party” has the meaning set forth in Section 6.6(c). 

  
 18 

 7.22 “Initial Registration Statement” has the meaning set
forth in Section 6.1. 
 7.23 “Intellectual Property” has the meaning set forth in
Section 2.10. 
 7.24 “Investment Company Act” has the meaning set forth in
Section 2.12. 
 7.25 “Material Adverse Effect” means a material adverse effect on (a) the
business, operations, assets or financial condition of the Company, taken as a whole, or (b) the ability of the Company to perform its obligations pursuant to the transactions contemplated by this Agreement. 

7.26 “Material Agreements” has the meaning set forth in Section 2.6. 

7.27 “Nasdaq” means The Nasdaq Stock Market LLC. 

7.28 “New Registration Statement” has the meaning set forth in Section 6.1. 

7.29 “Offering” means the private placement of the Company’s Securities contemplated by this
Agreement. 
 7.30 “Penalty Period” has the meaning set forth in Section 6.3. 

7.31 “Person” means any person, individual, corporation, limited liability company, partnership, trust or
other nongovernmental entity or any governmental agency, court, authority or other body (whether foreign, federal, state, local or otherwise). 
 7.32 “Placement Agents” means JMP Securities LLC, Cowen and Company LLC and Stifel, Nicolaus & Company, Incorporated. 

7.33 “Purchasers” has the meaning set forth in the preamble to this Agreement. 

7.34 “Purchase Price” has the meaning set forth in Section 1.1. 

7.35 The terms “register,” “registered” and “registration” refer to the
registration effected by preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such registration statement. 

7.36 “Registrable Securities” means (i) the Shares, (ii) the Warrant Shares and (iii) the
Debt Warrant Shares; provided, however, that securities shall only be treated as Registrable Securities if and only for so long as they (A) have not been disposed of pursuant to a registration statement declared effective by the SEC,
(B) have not been sold in a transaction exempt from the registration and prospectus delivery requirements of the Securities Act so that all transfer restrictions and restrictive legends with respect thereto are removed upon the consummation of
such sale and (C) are held by a Holder or a permitted transferee pursuant to Section 6.9. 
 7.37
“Registration Default” has the meaning set forth in Section 6.3. 
 7.38
“Registration Expenses” means all expenses incurred by the Company in complying with Section 6.1 hereof, including, without limitation, all registration, qualification and filing fees, printing expenses, escrow fees,
fees and expenses of counsel for the Company, blue sky fees and expenses and the expense of any special audits incident to or required by any such registration (but excluding the fees of legal counsel for any Holder). 

7.39 “Registration Statement” means any one or more registration statements of the Company filed under the
Securities Act that covers the resale of any of the Registrable Securities pursuant to the provisions of this Agreement (including without limitation the Initial Registration Statement, the New Registration Statement and any Remainder Registration
Statements) and amendments and supplements to such Registration Statements, including post-effective amendments. 

  
 19 

 7.40 “Registration Period” has the meaning set forth in
Section 6.4(a). 
 7.41 “Remainder Registration Statement” has the meaning set forth in
Section 6.1. 
 7.42 “Rule 144” means Rule 144 promulgated under the Securities Act, or any
successor rule. 
 7.43 “Rule 415” means Rule 415 promulgated under the Securities
Act, or any successor rule. 
 7.44 “SEC” means the United States Securities and Exchange
Commission. 
 7.45 “SEC Documents” has the meaning set forth in Section 2.6. 

7.46 “Securities” has the meaning set forth in Section 1.1. 

7.47 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
thereunder, or any similar successor statute. 
 7.48 “Selling Expenses” means all selling
commissions applicable to the sale of Registrable Securities and all fees and expenses of legal counsel for any Holder in connection with any such sale. 
 7.49 “Shares” has the meaning set forth in Section 1.1. 
 7.50 “Stock Purchase Price” has the meaning set forth in Section 1.1. 
 7.51 “Subsidiary” of any person shall mean any corporation, partnership, limited liability company, joint venture or other legal entity of which such Person (either above or
through or together with any other subsidiary) owns, directly or indirectly, more than 50% of the stock or other equity interests the holders of which are generally entitled to vote for the election of the board of directors or other governing body
of such corporation or other legal entity. 
 7.52 “Warrant Holder” has the meaning set forth in
the preamble to this Agreement. 
 7.53 “Warrant Shares” has the meaning set forth in
Section 2.4. 
 7.54 “Warrants” has the meaning set forth in Section 1.1. 

ARTICLE 8 

GOVERNING LAW; MISCELLANEOUS 
 8.1 Governing Law; Jurisdiction. This Agreement will be governed by and interpreted in accordance with the laws of the State of New York without regard to the principles of conflict of laws.

 8.2 Counterparts; Signatures by Facsimile. This Agreement may be executed in two or more counterparts, all of
which are considered one and the same agreement and will become effective when counterparts have been signed by each party and delivered to the other parties. This Agreement, once executed by a party, may be delivered to the other parties hereto by
facsimile or e-mail transmission of a copy of this Agreement bearing the signature of the party so delivering this Agreement. 

8.3 Headings. The headings of this Agreement are for convenience of reference only, are not part of this Agreement and do
not affect its interpretation. 

  
 20 

 8.4 Severability. If any provision of this Agreement is invalid or
unenforceable under any applicable statute or rule of law, then such provision will be deemed modified in order to conform with such statute or rule of law. Any provision hereof that may prove invalid or unenforceable under any law will not affect
the validity or enforceability of any other provision hereof. 
 8.5 Entire Agreement; Amendments. This Agreement
(including all schedules and exhibits hereto and, with respect to any Purchaser, any letter agreements requested by such Purchaser and executed by the Company with reference to this Agreement) constitutes the entire agreement among the parties
hereto with respect to the subject matter hereof and thereof. For purposes of clarification, each undersigned Warrant Holder hereby irrevocably waives, forfeits and relinquishes any and all rights pursuant to Section 1 of that certain
Investors’ Rights Agreement, dated as of April 1, 2010, between the Company and the Investors named therein and shall cease to be a party to or an “Investor” or a “Holder” thereunder. There are no restrictions,
promises, warranties or undertakings, other than those set forth or referred to herein or therein. This Agreement supersedes all prior agreements and understandings among the parties hereto with respect to the subject matter hereof. No provision of
this Agreement may be waived or amended other than by an instrument in writing signed by the party to be charged with enforcement. Any amendment or waiver by a party effected in accordance with this Section 8.5 shall be binding upon such party,
including with respect to any Securities purchased under this Agreement or Debt Warrants at the time outstanding and held by such party (including securities into which such Securities or Debt Warrants are convertible and for which such Securities
or Debt Warrants are exercisable) and each future holder of all such securities. 
 8.6 Notices. All notices
required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed email, telex or facsimile if sent during normal business hours of
the recipient, if not, then on the next business day, (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one business day after deposit with a nationally recognized
overnight courier, specifying next day delivery, with written verification of receipt. The addresses for such communications are: 
  

			
	If to the Company:	  	Horizon Pharma, Inc.
		  	520 Lake Cook Road
		  	Deerfield, Illinois 60015
		  	Attn: Timothy P. Walbert
		  	Fax: (847) 572-1372
		
	With a copy to:	  	Cooley LLP
		  	4401 Eastgate Mall
		  	San Diego, CA 92121
		  	Attn: Kay Chandler and Sean Clayton
		  	Fax: (858) 550-6420

 If to a Purchaser: To the address set forth immediately below such Purchaser’s name on the signature
pages hereto. Each party will provide ten days’ advance written notice to the other parties of any change in its address. 

8.7 Successors and Assigns. This Agreement is binding upon and inures to the benefit of the parties and their successors
and assigns. The Company will not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Purchasers and the Holders, and no Purchaser or Holder may assign this Agreement or any rights or obligations
hereunder without the prior written consent of the Company, except as permitted in accordance with Section 6.9 hereof. 

8.8 Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto, their respective permitted
successors and assigns and the Placement Agents, and is not for the benefit of, nor may any provision hereof be enforced by, any other person. 
 8.9 Further Assurances. Each party will do and perform, or cause to be done and performed, all such further acts and things, and will execute and deliver all other agreements, certificates,
instruments and documents, as another party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby. 

  
 21 

 8.10 No Strict Construction. The language used in this Agreement is deemed to
be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party. 
 8.11 Equitable Relief. The Company recognizes that, if it fails to perform or discharge any of its obligations under this Agreement, any remedy at law may prove to be inadequate relief to
the Purchasers and Holders. The Company therefore agrees that the Purchasers and Holders are entitled to seek temporary and permanent injunctive relief in any such case. Each Purchaser and each Holder also recognizes that, if it fails to perform or
discharge any of its obligations under this Agreement, any remedy at law may prove to be inadequate relief to the Company. Each Purchaser and each Holder therefore agrees that the Company is entitled to seek temporary and permanent injunctive relief
in any such case. 
 8.12 Survival of Representations and Warranties. Notwithstanding any investigation made by
any party to this Agreement, all representations and warranties made by the Company and the Purchasers herein shall survive for a period of one year following the date hereof. 
 8.13 Independent Nature of Purchasers’ and Holders’ Obligations and Rights. The obligations of each Purchaser and each Holder under this Agreement are several and not joint with
the obligations of any other Purchaser or Holder, and no Purchaser or Holder shall be responsible in any way for the performance of the obligations of any other Purchaser or Holder under this Agreement. Nothing contained herein and no action taken
by any Purchaser or Holder pursuant thereto, shall be deemed to constitute the Purchasers or Holders as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers or Holders are in any way
acting in concert or as a group, or are deemed affiliates with respect to such obligations or the transactions contemplated by this Agreement. Each Purchaser and each Holder shall be entitled to independently protect and enforce its rights,
including without limitation the rights arising out of this Agreement, and it shall not be necessary for any other Purchaser or Holder to be joined as an additional party in any proceeding for such purpose. 

8.14 Waiver of Conflicts. Each Purchaser and each Holder acknowledges that Cooley LLP, outside general counsel to the
Company, has in the past performed and is or may now or in the future represent one or more Purchasers or Holders or their affiliates in matters unrelated to the transactions contemplated by this Agreement (the “Financing”),
including representation of such Purchasers or Holder or their affiliates in matters of a similar nature to the Financing. The applicable rules of professional conduct require that Cooley LLP inform the Purchasers and Holders hereunder of this
representation and obtain their consent. Cooley LLP has served as outside general counsel to the Company and has negotiated the terms of the Financing solely on behalf of the Company. Each Purchaser and each Holder hereby (a) acknowledges that
they have had an opportunity to ask for and have obtained information relevant to such representation, including disclosure of the reasonably foreseeable adverse consequences of such representation; (b) acknowledges that with respect to the
Financing, Cooley LLP has represented solely the Company, and not any Purchaser or Holder or any stockholder, director or employee of the Company or any Purchaser or Holder; and (c) gives its informed consent to Cooley LLP’s representation
of the Company in the Financing. 
 8.15 Exculpation. Each Purchases and each Holder acknowledges that it is not
relying upon any person, firm or corporation, other than the Company and its officers and directors, in making its investment or decision to invest in the Company. Each Purchaser agrees that no other Purchaser nor the respective controlling persons,
officers, directors, partners, agents or employees of any other Purchaser shall be liable to any other Purchaser or Holder for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the
Securities. 
 [Signature Page Follows] 

  
 22 

 IN WITNESS WHEREOF, the undersigned Purchasers and the Company have caused this
Agreement to be duly executed as of the date first above written. 
  

			
	HORIZON PHARMA, INC.
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 [Signature Page to Securities Purchase Agreement] 

			
	[NAME OF PURCHASER / WARRANT HOLDER]
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 [Signature Page to Securities Purchase Agreement] 

 EXHIBIT A 
 SCHEDULE OF PURCHASERS 
  

													
	 Purchaser
	  	Shares	 	  	Warrants	 	  	Aggregate
Purchase Price	 
	 Essex Woodlands Health Ventures Fund VII, LP
	  	 	2,761,477	  	  	 	690,369	  	  	$	9,999,998.59	  
	 Fidelity Advisor Series I: Fidelity Advisor Dividend Growth Fund
	  	 	109,176	  	  	 	27,294	  	  	$	395,353.59	  
	 Fidelity Securities Fund: Fidelity Dividend Growth Fund
	  	 	1,015,612	  	  	 	253,903	  	  	$	3,677,784.96	  
	 Variable Insurance Products Fund III: Balanced Portfolio
	  	 	160,549	  	  	 	40,137	  	  	$	581,388.07	  
	 Fidelity Rutland Square Trust II: Strategic Advisers Core Multi-Manager Fund
	  	 	687	  	  	 	172	  	  	$	2,487.80	  
	 Fidelity Rutland Square Trust II: Strategic Advisers Core Fund
	  	 	94,695	  	  	 	23,674	  	  	$	342,914.27	  
	 Fidelity Select Portfolios: Biotechnology Portfolio
	  	 	1,278,157	  	  	 	319,539	  	  	$	4,628,526.04	  
	 Fidelity Advisor Series VII: Fidelity Advisor Biotechnology Fund
	  	 	74,949	  	  	 	18,737	  	  	$	271,409.06	  
	 Quaker BioVentures II, L.P.
	  	 	2,761,477	  	  	 	690,369	  	  	$	9,999,998.59	  
	 Ayer Capital Partners Master Fund, L.P.
	  	 	1,275,147	  	  	 	318,786	  	  	$	4,617,626.07	  
	 Ayer Capital Partners Kestrel Fund, LP
	  	 	27,956	  	  	 	6,989	  	  	$	101,235.67	  
	 Epworth-Ayer Capital
	  	 	77,636	  	  	 	19,409	  	  	$	281,139.37	  
	 Sutter Hill Associates, LLC
	  	 	367,642	  	  	 	91,910	  	  	$	1,331,323.59	  
	 Sutter Hill Ventures, A California Limited Partnership
	  	 	645,820	  	  	 	161,455	  	  	$	2,338,675.68	  
	 CD Venture GmbH
	  	 	1,104,591	  	  	 	276,147	  	  	$	4,000,000.16	  
	 Atlas Venture Fund VI, L.P.
	  	 	789,828	  	  	 	197,456	  	  	$	2,860,164.65	  
	 Atlas Venture Fund VI GmbH & Co. KG
	  	 	14,462	  	  	 	3,616	  	  	$	52,370.52	  
	 Atlas Venture Entrepreneurs’ Fund VI, L.P.
	  	 	24,153	  	  	 	6,038	  	  	$	87,464.05	  
	 NGN BioMed Opportunity I, LP
	  	 	160,276	  	  	 	40,069	  	  	$	580,400.55	  
	 NGN BioMed Opportunity I GmbH & Co KG
	  	 	115,872	  	  	 	28,968	  	  	$	419,600.40	  
	 Parallax Biomedical Fund, L.P.
	  	 	82,844	  	  	 	20,711	  	  	$	299,998.84	  
	 Iriquois Master Fund Ltd.
	  	 	69,037	  	  	 	17,259	  	  	$	250,000.24	  
	 Cowen Overseas Investment LP
	  	 	82,844	  	  	 	20,711	  	  	$	299,998.84	  
	 Capital Ventures International
	  	 	69,037	  	  	 	17,259	  	  	$	250,000.24	  
	 EkG Verwaltungs GmbH
	  	 	220,918	  	  	 	55,229	  	  	$	799,999.31	  
	 CBI GmbH
	  	 	193,303	  	  	 	48,325	  	  	$	699,998.49	  
	 ANMA GmbH
	  	 	193,303	  	  	 	48,325	  	  	$	699,998.49	  
	 ARRIVI GmbH
	  	 	55,230	  	  	 	13,807	  	  	$	200,001.64	  
	 IB INVEST Gmbh
	  	 	138,074	  	  	 	34,518	  	  	$	500,000.48	  
	 Robert Carey
	  	 	27,655	  	  	 	6,913	  	  	$	100,145.67	  
	 Carter Mack
	  	 	27,615	  	  	 	6,903	  	  	$	100,000.82	  
	 Dan Stauder
	  	 	13,807	  	  	 	3,451	  	  	$	49,998.60	  
	 Total
	  	 	14,033,829	  	  	 	3,508,448	  	  	$	50,820,003.34	  

 EXHIBIT B 
 SCHEDULE OF DEBT WARRANT HOLDERS 
  

					
	 Warrant Holder
	  	Debt Warrants	 
	 BPC Opportunities Fund LP
	  	 	546,199	  
	 Beach Point Select Master Fund, L.P.
	  	 	109,240	  
	 Beach Point Total Return Master Fund, L.P.
	  	 	273,099	  
	 Royal Mail Pension Plan
	  	 	436,959	  
	 FHP Pharma, L.L.C.
	  	 	1,365,496	  
	 Quaker BioVentures II, L.P.
	  	 	546,198	  
	 Total
	  	 	3,277,191	  

 EXHIBIT C 
 FORM OF WARRANT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00200-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00200-of-00352.parquet"}]]