The Company is examining both non-dilutive and dilutive arrangements, with a preference for non-dilutive alternatives, in the following priority: co-development, licensing, rights (on indications or potential follow-on compounds, for instance) or other partnering arrangements, private placements and/or public offerings (equity and/or debt); therefore, the Company frequently engages in such discussions. The Company intends to complete an equity private placement within the next month; however, there is no assurance that the placement will be completed. The Company also continues to engage in discussions regarding extending its loan; however, there is no assurance that the loan will be extended. The Company has also entered into an agreement with an agent regarding the replacement of the Company’s existing loan; however, there is no assurance that the loan will be replaced. Regardless of loan extension or replacement, the Company will have to raise additional capital.