<SEC-DOCUMENT>0001104659-25-078752.txt : 20250814
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<ACCEPTANCE-DATETIME>20250814170206
ACCESSION NUMBER:		0001104659-25-078752
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20250814
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Termination of a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20250814
DATE AS OF CHANGE:		20250814

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Sagimet Biosciences Inc.
		CENTRAL INDEX KEY:			0001400118
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				205991472
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41742
		FILM NUMBER:		251220735

	BUSINESS ADDRESS:	
		STREET 1:		155 BOVET RD., SUITE 303
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94402
		BUSINESS PHONE:		(650) 561-8600

	MAIL ADDRESS:	
		STREET 1:		155 BOVET RD., SUITE 303
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94402

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	3-V Biosciences, Inc.
		DATE OF NAME CHANGE:	20070521
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<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>UNITED STATES</b></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Washington, D.C. 20549</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>CURRENT REPORT</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Pursuant to Section&#160;13 or 15(d)</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>of the Securities Exchange Act of 1934</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Sagimet Biosciences Inc.</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(Former Name or Former Address, if Changed Since
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Check the appropriate box below if the Form&#160;8-K filing is intended
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section&#160;12(b)&#160;of the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Indicate by check mark whether the registrant is an emerging growth
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">On August&#160;14, 2025, Sagimet Biosciences
Inc. (the &#8220;Company&#8221;) entered into a Sales Agreement (the &#8220;Agreement&#8221;) with Leerink Partners LLC (the &#8220;Agent&#8221;),
pursuant to which the Company from time to time may offer and sell shares (the &#8220;ATM Shares&#8221;) of its Series&#160;A common stock,
par value $0.0001 per share (&#8220;Common Stock&#8221;), through or to the Agent. Pursuant to the Prospectus Supplement (as defined below),
the Company may offer and sell ATM Shares having an aggregate sales price of up to $75,000,000 (the &#8220;ATM Offering&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Subject to the terms and conditions of the
Agreement, the Agent will use its commercially reasonable efforts to sell the ATM Shares from time to time, based upon the Company&#8217;s
instructions. The Company has provided the Agent with customary indemnification rights, and the Agent will be entitled to a commission
of up to 3.0% of the gross proceeds from each sale of the ATM Shares effectuated through or to the Agent selling the ATM Shares.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Sales of the ATM Shares, if any, under the
Agreement may be made in transactions that are deemed to be &#8220;at the market offerings&#8221; as defined in Rule&#160;415(a)(4)&#160;under
the Securities Act of 1933, as amended. The Company has no obligation to sell any of the ATM Shares and may at any time suspend offers
under the Agreement or terminate the Agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">The offer and sale, if any, of the ATM Shares
will be made pursuant to the Company&#8217;s shelf registration statement on Form&#160;S-3 (File No.&#160;333-281582) which was filed
by the Company with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) on August&#160;15, 2024, and declared effective
on August&#160;26, 2024, the base prospectus included therein and the related prospectus supplement (the &#8220;Prospectus Supplement&#8221;)
filed by the Company with the SEC on August&#160;14, 2025.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">This Form&#160;8-K shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall there be any sale of the ATM Shares in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the securities laws of any such state.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">This description of the Agreement does not
purport to be complete and is qualified in its entirety by reference to the Agreement, which is attached hereto as Exhibit&#160;10.1 and
incorporated by reference herein.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Goodwin Procter LLP, counsel to the Company,
has issued a legal opinion relating to the ATM Shares. A copy of such legal opinion, including the consent included therein, is attached
as Exhibit&#160;5.1 hereto.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">As previously disclosed, on August&#160;15,
2024, the Company entered into that certain Controlled Equity Offering<sup>SM</sup> Sales Agreement (the &#8220;Cantor Sales Agreement&#8221;)
with Cantor Fitzgerald&#160;&amp; Co. (&#8220;Cantor&#8221;) pursuant to which the Company could offer and sell through or to Cantor,
as sales agent or principal, shares of Common Stock, in sales deemed to be an &#8220;at the market offering&#8221; as defined in Rule&#160;415(a)(4)&#160;promulgated
under the Securities Act. Effective as of August&#160;14, 2025, the Company terminated the Cantor Sales Agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Following the termination of the&#160;Cantor&#160;Sales
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2024 to August&#160;14, 2025, the Company did not sell any shares of Common Stock pursuant to the&#160;Cantor&#160;Sales Agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">The foregoing description of the&#160;Cantor&#160;Sales
Agreement is not complete and is qualified in its entirety by reference to the full text of the&#160;Cantor&#160;Sales Agreement, a copy
of which was filed as <a href="https://www.sec.gov/Archives/edgar/data/1400118/000110465924090180/tm2421627d2_ex1-2.htm" style="-sec-extract: exhibit">Exhibit&#160;1.2</a> to the Company&#8217;s registration statement on Form&#160;S-3 filed with the SEC on August&#160;15,
2024, and incorporated by reference herein.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><b>Item 9.01 Financial Statements and Exhibits</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><b>(d)&#160;Exhibits</b></p>

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    <td style="vertical-align: bottom"><a href="tm2523529d2_ex5-1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Goodwin Procter LLP</span></a></td></tr>
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    <td style="vertical-align: bottom"><a href="tm2523529d2_ex10-1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales Agreement, dated as of August&#160;14, 2025, by and between Leerink Partners LLC and Sagimet Biosciences Inc.</span></a></td></tr>
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    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">104</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURE</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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    <td style="width: 47%">&#160;</td></tr>
  <tr>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: August&#160;14, 2025</span></td>
    <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </span></td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ David Happel</span></td></tr>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 20%"><P STYLE="margin-top: 0; margin-bottom: 0">Goodwin Procter <FONT STYLE="font-variant: small-caps">llp</FONT></P>
                                                                     <P STYLE="margin-top: 0; margin-bottom: 0">3025 John F Kennedy Blvd<BR> Philadelphia, PA 19104</P></TD></TR>
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    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">gooodwinlaw.com<BR> +1 445 207 7800</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0; text-align: right">August&nbsp;14, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sagimet Biosciences Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">155 Bovet Road, Suite&nbsp;303</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">San Mateo, CA 94402</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Re:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Securities
Registered under Registration Statement on Form&nbsp;S-3</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have acted as counsel to
you in connection with your filing of a Registration Statement on Form&nbsp;S-3 (as amended or supplemented, the &ldquo;Registration Statement&rdquo;)
filed on August&nbsp;15, 2024 with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) pursuant to the Securities Act
of 1933, as amended (the &ldquo;Securities Act&rdquo;), relating to the registration of the offering by Sagimet Biosciences Inc., a Delaware
corporation (the &ldquo;Company&rdquo;), of up to $300,000,000 of any combination of securities of the types specified therein. The Registration
Statement was declared effective by the Commission on August&nbsp;26, 2024. Reference is made to our opinion letter dated August&nbsp;15,
2024 and included as Exhibit&nbsp;5.1 to the Registration Statement. We are delivering this supplemental opinion letter in connection
with the sales agreement prospectus supplement (the &ldquo;Prospectus Supplement&rdquo;) filed on August&nbsp;14, 2025 by the Company
with the Commission pursuant to Rule&nbsp;424 under the Securities Act. The Prospectus Supplement relates to the offering by the Company
of up to $75,000,000 in shares (the &ldquo;Shares&rdquo;) of the Company&rsquo;s Series&nbsp;A common stock, par value $0.0001 per share
(&ldquo;Common Stock&rdquo;), covered by the Registration Statement. The Shares are being offered and sold by the sales agent named in,
and pursuant to, the Sales Agreement, dated August&nbsp;14, 2025, by and between the Company and such sales agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have reviewed such documents
and made such examination of law as we have deemed appropriate to give the opinion set forth below. We have relied, without independent
verification, on certificates of public officials and, as to matters of fact material to the opinion set forth below, on certificates
of officers of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of the opinion
set forth below, we have assumed that the Shares are issued for a price per share equal to or greater than the minimum price authorized
by the Company&rsquo;s board of directors (or a duly authorized committee of the board of directors) prior to the date hereof (the &ldquo;Minimum
Price&rdquo;) and that no event occurs that causes the number of authorized shares of Common Stock available for issuance by the Company
to be less than the number of then unissued Shares that may be issued for the Minimum Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For purposes of the opinion
set forth below, we refer to the following as &ldquo;Future Approval and Issuance&rdquo;: (a)&nbsp;the approval by the Company&rsquo;s
board of directors (or a duly authorized committee of the board of directors) of the issuance of the Shares (the &ldquo;Approval&rdquo;)
and (b)&nbsp;the issuance of the Shares in accordance with the Approval and the receipt by the Company of the consideration (which shall
not be less than the par value of such Shares) to be paid in accordance with the Approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT>Sagimet Biosciences Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT>August&nbsp;14, 2025</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT>Page&nbsp;2</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The opinion set forth below
is limited to the Delaware General Corporation Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on the foregoing, we
are of the opinion that the Shares have been duly authorized and, upon Future Approval and Issuance, will be validly issued, fully paid
and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This opinion letter and the
opinions it contains shall be interpreted in accordance with the Core Opinion Principles as published in 74 <I>Business Lawyer</I> 815
(Summer 2019).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This opinion is being furnished
to you for submission to the Commission as an exhibit to the Company&rsquo;s Current Report on Form&nbsp;8-K relating to the Shares (the
 &ldquo;Current Report&rdquo;), which is incorporated by reference in the Registration Statement. We hereby consent to the filing of this
opinion letter as an exhibit to the Current Report and its incorporation by reference and the reference to our firm in that report and
under the caption &ldquo;Legal Matters&rdquo; in the Registration Statement and the Prospectus Supplement. In giving our consent, we do
not admit that we are in the category of persons whose consent is required under Section&nbsp;7 of the Securities Act or the rules&nbsp;and
regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%">Very truly yours,</TD></TR>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
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    <TD STYLE="font: small-caps 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><U>/<FONT STYLE="font-variant: small-caps">S</FONT>/ Goodwin Procter LLP</U></TD></TR>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">GOODWIN PROCTER <FONT STYLE="font-variant: small-caps">llp</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>tm2523529d2_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Sagimet Biosciences Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Shares of Series&nbsp;A Common Stock</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">($0.0001 par value per share)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>SALES AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">August&nbsp;14, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">LEERINK PARTNERS LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1301 Avenue of the Americas, 5<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sagimet Biosciences Inc., a Delaware corporation (the &ldquo;<B><U>Company</U></B>&rdquo;),
confirms its agreement (this &ldquo;<B><U>Agreement</U></B>&rdquo;) with Leerink Partners LLC (the &ldquo;<B><U>Agent</U></B>&rdquo;),
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>1.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Issuance
and Sale of Shares</U>. The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the
conditions set forth herein, it may issue and sell through the Agent shares of Series&nbsp;A common stock, $0.0001 par value per share,
of the Company (the &ldquo;<B><U>Common Stock</U></B>&rdquo;), subject to the limitations set forth in Section&nbsp;5(c)&nbsp;(the &ldquo;<B><U>Placement
Shares</U></B>&rdquo;). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitation
set forth in this Section&nbsp;1 on the aggregate gross sales price of Placement Shares that may be issued and sold under this Agreement
from time to time shall be the sole responsibility of the Company, and that the Agent shall have no obligation in connection with such
compliance. The issuance and sale of Placement Shares through the Agent will be effected pursuant to the Registration Statement (as defined
below) filed by the Company with the Securities and Exchange Commission (the &ldquo;<B><U>Commission</U></B>&rdquo;) on August&nbsp;15,
2024, and initially declared effective by the Commission on August&nbsp;26, 2024, although nothing in this Agreement shall be construed
as requiring the Company to issue any Placement Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company has prepared and filed, in accordance with the provisions
of the Securities Act of 1933, as amended, and the rules&nbsp;and regulations thereunder (collectively, the &ldquo;<B><U>Securities Act</U></B>&rdquo;),
with the Commission a registration statement on Form&nbsp;S-3 (File No.&nbsp;333-281582), including a base prospectus, relating to certain
securities, including the Common Stock, to be issued from time to time by the Company, and which incorporates by reference documents that
the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules&nbsp;and
regulations thereunder (collectively, the &ldquo;<B><U>Exchange Act</U></B>&rdquo;). The Company has prepared a prospectus supplement
to the base prospectus included as part of such registration statement, which prospectus supplement specifically relates to the Placement
Shares to be issued from time to time pursuant to this Agreement (the &ldquo;<B><U>Prospectus Supplement</U></B>&rdquo;). The Company
will furnish to the Agent, for use by the Agent, copies of the base prospectus included as part of such registration statement at the
time it became effective, as supplemented by the Prospectus Supplement. The Company may file one or more additional registration statements
from time to time that will contain a base prospectus and related prospectus or prospectus supplement, if applicable (which shall be a
Prospectus Supplement), with respect to the Placement Shares. Except where the context otherwise requires, such registration statement,
including all documents filed as part thereof or incorporated by reference therein, and including any information contained in a Prospectus
(as defined below) subsequently filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;under the Securities Act or deemed to be a
part of such registration statement pursuant to Rule&nbsp;430B or Rule&nbsp;462(b)&nbsp;under the Securities Act, is herein called the
 &ldquo;<B><U>Registration Statement</U></B>.&rdquo; The base prospectus, including all documents incorporated therein by reference, included
in the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such prospectus and/or Prospectus
Supplement have most recently been filed by the Company with the Commission pursuant to Rule&nbsp;424(b)&nbsp;under the Securities Act,
together with any &ldquo;issuer free writing prospectus&rdquo; (as used herein, as defined in Rule&nbsp;433 under the Securities Act (&ldquo;<B><U>Rule&nbsp;433</U></B>&rdquo;)),
relating to the Placement Shares that (i)&nbsp;is required to be filed with the Commission by the Company or (ii)&nbsp;is exempt from
filing pursuant to Rule&nbsp;433(d)(5)(i), in each case, in the form filed or required to be filed with the Commission or, if not required
to be filed, in the form retained in the Company&rsquo;s records pursuant to Rule&nbsp;433(g), is herein called the &ldquo;<B><U>Prospectus</U></B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Any reference herein to the Registration Statement, the Prospectus
Supplement, the Prospectus or any issuer free writing prospectus shall be deemed to refer to and include the documents, if any, that are
or are deemed to be incorporated by reference therein (the &ldquo;<B><U>Incorporated Documents</U></B>&rdquo;), including, unless the
context otherwise requires, the documents, if any, filed as exhibits to such Incorporated Documents. Any reference herein to the terms
 &ldquo;amend,&rdquo; &ldquo;amendment&rdquo; or &ldquo;supplement&rdquo; with respect to the Registration Statement, the Prospectus Supplement,
the Prospectus or any issuer free writing prospectus shall be deemed to refer to and include the filing of any document under the Exchange
Act on or after the most-recent effective date of the Registration Statement, or the respective dates of the Prospectus Supplement, Prospectus
or such issuer free writing prospectus, as the case may be, and incorporated therein by reference. For purposes of this Agreement, all
references to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to include the most recent
copy filed with the Commission pursuant to its Electronic Data Gathering Analysis and Retrieval System or, if applicable, the Interactive
Data Electronic Application system when used by the Commission (collectively, &ldquo;<B><U>EDGAR</U></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Placements</U>.
Each time that the Company wishes to issue and sell any Placement Shares through the Agent hereunder (each, a &ldquo;<B><U>Placement</U></B>&rdquo;),
it will notify the Agent by email notice (or other method mutually agreed to in writing by the parties) (each such notice, a &ldquo;<B><U>Placement
Notice</U></B>&rdquo;) containing the parameters in accordance with which it desires such Placement Shares to be sold, which at a minimum
shall include the maximum number or amount of Placement Shares to be sold, the time period during which sales are requested to be made,
any limitation on the number or amount of Placement Shares that may be sold in any one Trading Day (as defined in Section&nbsp;3) and
any minimum price below which sales may not be made, a form of which containing such minimum sales parameters is attached hereto as <B><U>Schedule
1</U></B>. The Placement Notice must originate from one of the individuals authorized to act on behalf of the Company and set forth on
<B><U>Schedule 2</U></B> (with a copy to each of the other individuals from the Company listed on such <B><U>Schedule 2</U></B>), and
shall be addressed to each of the recipients from the Agent set forth on <B><U>Schedule 2</U></B>, as such <B><U>Schedule 2</U></B> may
be updated by either party from time to time by sending a written notice containing a revised <B><U>Schedule 2</U></B> to the other party
in the manner provided in Section&nbsp;12 (including by email correspondence to each of the individuals of the Company set forth on <B><U>Schedule
2</U></B>, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than
via auto-reply). The Placement Notice shall be effective upon receipt by the Agent unless and until (i)&nbsp;in accordance with the notice
requirements set forth in Section&nbsp;4, the Agent declines to accept the terms contained therein for any reason, in its sole discretion,
within two Trading Days of the date the Agent receives the Placement Notice, (ii)&nbsp;in accordance with the notice requirements set
forth in Section&nbsp;4, the Agent suspends sales under the Placement Notice for any reason in its sole discretion, (iii)&nbsp;the entire
amount of the Placement Shares has been sold pursuant to this Agreement, (iv)&nbsp;in accordance with the notice requirements set forth
in Section&nbsp;4, the Company suspends sales under or terminates the Placement Notice for any reason in its sole discretion, (v)&nbsp;the
Company issues a subsequent Placement Notice and explicitly indicates that its parameters supersede those contained in the earlier dated
Placement Notice or (vi)&nbsp;this Agreement has been terminated pursuant to the provisions of Section&nbsp;11. The amount of any discount,
commission or other compensation to be paid by the Company to the Agent in connection with the sale of the Placement Shares effected through
the Agent shall be calculated in accordance with the terms set forth in <B><U>Schedule 3</U></B>. It is expressly acknowledged and agreed
that neither the Company nor the Agent will have any obligation whatsoever with respect to a Placement or any Placement Shares unless
and until the Company delivers a Placement Notice to the Agent and the Agent does not decline such Placement Notice pursuant to the terms
set forth above, and then only upon the terms specified therein and herein. In the event of a conflict between the terms of this Agreement
and the terms of a Placement Notice, the terms of the Placement Notice will control with respect to the matters covered thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>3.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Sale
of Placement Shares by the Agent</U>. On the basis of the representations and warranties herein contained and subject to the terms and
conditions herein set forth, including Section&nbsp;5(c), upon the Agent&rsquo;s acceptance of the terms of a Placement Notice as provided
in Section&nbsp;2, and unless the sale of the Placement Shares described therein has been declined, suspended or otherwise terminated
in accordance with the terms of this Agreement, the Agent, for the period specified in the Placement Notice, will use its commercially
reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules&nbsp;and regulations
and the rules&nbsp;of the Nasdaq Global Market (&ldquo;<B><U>Nasdaq</U></B>&rdquo;) to sell such Placement Shares up to the number or
amount specified in, and otherwise in accordance with the terms of, such Placement Notice. The Agent will provide written confirmation
to the Company (including by email correspondence to each of the individuals of the Company set forth on <B><U>Schedule 2</U></B>, if
receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply)
no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement
Shares hereunder setting forth the number or amount of Placement Shares sold on such Trading Day, the volume-weighted average price of
the Placement Shares sold and the Net Proceeds (as defined below) payable to the Company. Unless otherwise specified by the Company in
a Placement Notice, the Agent may sell Placement Shares by any method permitted by law deemed to be an &ldquo;at the market offering&rdquo;
as defined in Rule&nbsp;415(a)(4)&nbsp;of the Securities Act, including sales made directly on or through Nasdaq, on or through any other
existing trading market for the Common Stock or to or through a market maker. If expressly authorized by the Company (including in a Placement
Notice), the Agent may also sell Placement Shares in negotiated transactions. Notwithstanding the provisions of Section&nbsp;6(tt), except
as may be otherwise agreed by the Company and the Agent, the Agent shall not purchase Placement Shares on a principal basis pursuant to
this Agreement unless the Company and the Agent enter into a separate written agreement setting forth the terms of such sale. The Company
acknowledges and agrees that (i)&nbsp;there can be no assurance that the Agent will be successful in selling Placement Shares, (ii)&nbsp;the
Agent will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Shares for any
reason other than a failure by the Agent to use its commercially reasonable efforts consistent with its normal trading and sales practices
and applicable state and federal laws, rules&nbsp;and regulations and the rules&nbsp;of Nasdaq to sell such Placement Shares as required
under this Agreement and (iii)&nbsp;the Agent shall be under no obligation to purchase Placement Shares on a principal basis pursuant
to this Agreement unless the Company and the Agent enter into a separate written agreement setting forth the terms of such sale. For the
purposes hereof, &ldquo;<B><U>Trading Day</U></B>&rdquo; means any day on which the Common Stock is purchased and sold on Nasdaq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>4.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Suspension
of Sales</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The
Company or the Agent may, upon notice to the other party in writing (including by email correspondence to each of the individuals of the
other party set forth on <B><U>Schedule 2</U></B>, if receipt of such correspondence is actually acknowledged by any of the individuals
to whom the notice is sent, other than via auto-reply) or by telephone (confirmed immediately by email correspondence to each of the individuals
of the other party set forth on <B><U>Schedule 2</U></B>), suspend any sale of Placement Shares; <I>provided</I>, <I>however</I>, that
such suspension shall not affect or impair either party&rsquo;s obligations with respect to any Placement Shares sold hereunder prior
to the receipt of such notice. Each of the parties agrees that no such notice under this Section&nbsp;4 shall be effective against the
other party unless notice is sent by one of the individuals named on <B><U>Schedule 2</U></B> hereto to the other party in writing (including
by email correspondence to each of the individuals of the other party set forth on <B><U>Schedule 2</U></B>, if receipt of such correspondence
is actually acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Notwithstanding
any other provision of this Agreement, during any period in which the Company is, or would reasonably be deemed to be, in possession of
material non-public information, the Company and the Agent agree that (i)&nbsp;no sale of Placement Shares will take place, (ii)&nbsp;the
Company shall not request the sale of any Placement Shares and shall cancel any effective Placement Notices instructing the Agent to make
any sales and (iii)&nbsp;the Agent shall not be obligated to sell or offer to sell any Placement Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>5.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Settlement
and Delivery of the Placement Shares</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Settlement
of Placement Shares</U>. Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement Shares will
occur on the first Trading Day (or such earlier day as is industry practice or as is required for regular-way trading) following the date
on which such sales are made (each, a &ldquo;<B><U>Settlement Date</U></B>&rdquo;). The Agent shall notify the Company of each sale of
Placement Shares no later than the opening of the Trading Day immediately following the Trading Day on which it has made sales of Placement
Shares hereunder. The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the Placement Shares sold
(the &ldquo;<B><U>Net Proceeds</U></B>&rdquo;) will be equal to the aggregate gross sales price received by the Agent at which such Placement
Shares were sold, after deduction of (i)&nbsp;the Agent&rsquo;s commission, discount or other compensation for such sales payable by the
Company pursuant to Section&nbsp;2 hereof, (ii)&nbsp;any other amounts due and payable by the Company to the Agent hereunder pursuant
to Section&nbsp;7(g)&nbsp;hereof and (iii)&nbsp;any transaction fees imposed by any governmental or self-regulatory organization in respect
of such sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Delivery
of Placement Shares</U>. On or before each Settlement Date, the Company will issue the Placement Shares being sold on such date and will,
or will cause its transfer agent to, electronically transfer such Placement Shares by crediting the Agent&rsquo;s or its designee&rsquo;s
account (provided the Agent shall have given the Company written notice of such designee prior to the Settlement Date) at The Depository
Trust Company through its Deposit and Withdrawal at Custodian System (&ldquo;<B><U>DWAC</U></B>&rdquo;) or by such other means of delivery
as may be mutually agreed upon by the parties hereto, which in all cases shall be duly authorized, freely tradeable, transferable, registered
shares of Common Stock in good deliverable form. On each Settlement Date, the Agent will deliver the related Net Proceeds in same day
funds to an account designated by the Company on or prior to the Settlement Date. The Agent shall be responsible for providing DWAC instructions
or other instructions for delivery by other means with regard to the transfer of the Placement Shares being sold. In addition to and in
no way limiting the rights and obligations set forth in Section&nbsp;9(a)&nbsp;hereto, the Company agrees that if the Company or its transfer
agent (if applicable), defaults in its obligation to deliver duly authorized, freely tradeable, transferable, registered Placement Shares
in good deliverable form by 2:30 P.M., New York City time, on a Settlement Date (other than as a result of a failure by the Agent to provide
instructions for delivery), the Company will (i)&nbsp;take all necessary action to cause the full amount of any Net Proceeds that were
delivered to the Company&rsquo;s account with respect to such settlement, together with any costs reasonably incurred by the Agent and/or
its clearing firm in connection with recovering such Net Proceeds, to be immediately returned to the Agent or its clearing firm no later
than 5:00 P.M., New York City time, on such Settlement Date, by wire transfer of immediately available funds to an account designated
by the Agent or its clearing firm, (ii)&nbsp;indemnify and hold the Agent and its clearing firm harmless against any loss, claim, damage,
or expense (including reasonable and documented legal fees and expenses), as incurred, arising out of or in connection with such default
by the Company or its transfer agent (if applicable) and (iii)&nbsp;pay to the Agent any commission, discount or other compensation to
which it would otherwise have been entitled absent such default. Certificates for the Placement Shares, if any, shall be in such denominations
and registered in such names as the Agent may request in writing one Business Day (as defined below) before the applicable Settlement
Date. Certificates for the Placement Shares, if any, will be made available by the Company for examination and packaging by the Agent
in New York City not later than 12:00 P.M., New York City time, on the Business Day prior to the applicable Settlement Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(c)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Limitations
on Offering Size</U>. Under no circumstances shall the Company cause or request the offer or sale of any Placement Shares if, after giving
effect to the sale of such Placement Shares, the aggregate number or gross sales proceeds of Placement Shares sold pursuant to this Agreement
would exceed the lesser of: (i)&nbsp;the number or dollar amount of shares of Common Stock registered pursuant to, and available for offer
and sale under, the Registration Statement pursuant to which the offering of Placement Shares is being made, (ii)&nbsp;the number of authorized
but unissued shares of Common Stock of the Company (less shares of Common Stock issuable upon exercise, conversion or exchange of any
outstanding securities of the Company or otherwise reserved from the Company&rsquo;s authorized capital stock), (iii)&nbsp;the number
or dollar amount of shares of Common Stock permitted to be offered and sold by the Company under Form&nbsp;S-3 (including General Instruction
I.B.6. thereof, if such instruction is applicable), (iv)&nbsp;the number or dollar amount of shares of Common Stock that the Company&rsquo;s
board of directors or a duly authorized committee thereof is authorized to issue and sell from time to time, and notified to the Agent
in writing, or (v)&nbsp;the dollar amount of shares of Common Stock for which the Company has filed the Prospectus Supplement. Under no
circumstances shall the Company cause or request the offer or sale of any Placement Shares pursuant to this Agreement at a price lower
than the minimum price authorized from time to time by the Company&rsquo;s board of directors or a duly authorized committee thereof,
and notified to the Agent in writing. Notwithstanding anything to the contrary contained herein, the parties hereto acknowledge and agree
that compliance with the limitations set forth in this Section&nbsp;5(c)&nbsp;on the number or dollar amount of Placement Shares that
may be issued and sold under this Agreement from time to time shall be the sole responsibility of the Company, and that the Agent shall
have no obligation in connection with such compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>6.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Representations
and Warranties of the Company</U>. The Company represents and warrants to, and agrees with, the Agent that as of the date of this Agreement,
and as of (i)&nbsp;each Representation Date (as defined in Section&nbsp;7(m)), (ii)&nbsp;each date on which a Placement Notice is given,
(iii)&nbsp;the date and time of each sale of any Placement Shares pursuant to this Agreement and (iv)&nbsp;each Settlement Date (each
such time or date referred to in clauses (i)&nbsp;through (iv), an &ldquo;<B><U>Applicable Time</U></B>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Registration
Statement and Prospectus</U>. The Company and the transactions contemplated by this Agreement meet the requirements for and comply with
the applicable conditions set forth in Form&nbsp;S-3 (including General Instructions I.A and I.B) under the Securities Act. The Registration
Statement has been or will be filed with the Commission and will be declared effective by the Commission under the Securities Act prior
to the issuance of any Placement Notices by the Company. As of each Applicable Time, the Registration Statement is effective. The Prospectus
Supplement will name the Agent as the agent in the section entitled &ldquo;Plan of Distribution.&rdquo; The Company has not received,
and has no notice of, any order of the Commission preventing or suspending the use of the Registration Statement, or threatening or instituting
proceedings for that purpose. The Registration Statement and the offer and sale of Placement Shares as contemplated hereby meet the requirements
of Rule&nbsp;415 under the Securities Act and comply in all material respects with said Rule. Any statutes, regulations, contracts or
other documents that are required to be described in the Registration Statement or the Prospectus or to be filed as exhibits to the Registration
Statement have been so described or filed. Copies of the Registration Statement, the Prospectus, and any such amendments or supplements
and all documents incorporated by reference therein that were filed with the Commission on or prior to the date of this Agreement have
been delivered, or are available through EDGAR, to the Agent and its counsel. The Company has not distributed and, prior to the later
to occur of each Settlement Date and completion of the distribution of the Placement Shares, will not distribute any offering material
in connection with the offering or sale of the Placement Shares other than the Registration Statement and the Prospectus and any Issuer
Free Writing Prospectus to which the Agent has consented. The Common Stock is registered pursuant to Section&nbsp;12(b)&nbsp;of the Exchange
Act and is currently listed on the Exchange under the trading symbol &ldquo;SGMT.&rdquo; The Company has taken no action designed to,
or likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act, delisting the Common Stock from
the Exchange, nor has the Company received any notification that the Commission or the Exchange is contemplating terminating such registration
or listing. To the Company&rsquo;s knowledge, it is in compliance with all applicable listing requirements of the Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>No
Misstatement or Omission</U>. The Registration Statement, when it became or becomes effective, and the Prospectus, and any amendment or
supplement thereto, on the date of such Prospectus or amendment or supplement, conformed and will conform in all material respects with
the requirements of the Securities Act. At each Settlement Date, the Registration Statement and the Prospectus, as of such date, will
conform in all material respects with the requirements of the Securities Act. The Registration Statement, when it became or becomes effective,
did not, and will not, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading. The Prospectus and any amendment and supplement thereto, on the date thereof
and at each Applicable Time (defined below), did not and will not include an untrue statement of a material fact or omit to state a material
fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. The documents
incorporated by reference in the Prospectus or any Prospectus Supplement did not, and any further documents filed and incorporated by
reference therein will not, when filed with the Commission, contain an untrue statement of a material fact or omit to state a material
fact required to be stated in such document or necessary to make the statements in such document, in light of the circumstances under
which they were made, not misleading. The foregoing shall not apply to statements in, or omissions from, any such document made in reliance
upon, and in conformity with, information furnished to the Company by the Agent in writing specifically for use in the preparation thereof,
it being understood and agreed that the only such information furnished by the Agent to the Company consists of &ldquo;Agent Information&rdquo;
as defined below.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(c)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Conformity
with the Securities Act and Exchange Act</U>. The Registration Statement, the Prospectus, any Issuer Free Writing Prospectus or any amendment
or supplement thereto, and the documents incorporated by reference in the Registration Statement, the Prospectus or any amendment or supplement
thereto, when such documents were or are filed with the Commission under the Securities Act or the Exchange Act or became or become effective
under the Securities Act, as the case may be, conformed or will conform in all material respects with the requirements of the Securities
Act and the Exchange Act, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(d)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>No
Material Adverse Effect</U>. The Company has not, since the date of the latest audited financial statements included or incorporated by
reference in the Prospectus, (i)&nbsp;sustained any material loss or interference with its business from fire, explosion, flood or other
calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree or (ii)&nbsp;entered
into any transaction or agreement (whether or not in the ordinary course of business) that is material to the Company or incurred any
liability or obligation, direct or contingent, that is material to the Company, in each case otherwise than as set forth or contemplated
in the Registration Statement and Prospectus; and, since the respective dates as of which information is given in the Registration Statement
and the Prospectus, there has not been (x)&nbsp;any change in the capital stock (other than as a result of (i)&nbsp;the exercise, if any,
of stock options or the award, if any, of stock options or restricted stock in the ordinary course of business pursuant to the Company&rsquo;s
equity plans that are described in the Registration Statement and the Prospectus or (ii)&nbsp;the issuance, if any, of stock upon conversion
of Company securities as described in the Registration Statement and the Prospectus) or long term or short-term debt of the Company or
(y)&nbsp;any Material Adverse Effect (as defined below); as used in this Agreement, &ldquo;<B><U>Material Adverse Effect</U></B>&rdquo;
shall mean a material adverse change or effect, or any development involving a prospective material adverse change or effect, in or affecting
(i)&nbsp;the business, properties, general affairs, management, financial position, stockholders&rsquo; equity, prospects or results of
operations of the Company or (ii)&nbsp;the ability of the Company to perform its obligations under this Agreement, including the issuance
and sale of the Placement Shares, or to consummate the transactions contemplated in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(e)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Title
to Real and Personal Property</U>. The Company has good and marketable title in fee simple to all real property and good and marketable
title to all personal property owned by it, in each case free and clear of all liens, encumbrances and defects except such as do not materially
affect the value of such property and do not interfere with the use made and proposed to be made of such property by the Company; and
any real property and buildings held under lease by the Company is held by the Company under valid, subsisting and enforceable leases
with such exceptions as are not material and do not materially interfere with the use made and proposed to be made of such property and
buildings by the Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(f)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Organization</U>.
The Company and each of its Subsidiaries has been (i)&nbsp;duly organized and is validly existing and in good standing under the laws
of its jurisdiction of organization, with power and authority (corporate and other) to own its properties and conduct its business as
described in the Prospectus, and (ii)&nbsp;duly qualified as a foreign corporation for the transaction of business and is in good standing
(where such concept exists) under the laws of each other jurisdiction in which it owns or leases properties or conducts any business so
as to require such qualification, except, in the case of this clause (ii), where the failure to be so qualified or in good standing would
not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(g)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Subsidiaries</U>.
The subsidiaries set forth on <U>Schedule 4</U> (collectively, the &ldquo;<B><U>Subsidiaries</U></B>&rdquo;), are the Company&rsquo;s
only significant subsidiaries (as such term is defined in Rule&nbsp;1-02 of Regulation S-X promulgated by the Commission). Except as set
forth in the Registration Statement and in the Prospectus, the Company owns, directly or indirectly, all of the equity interests of the
Subsidiaries free and clear of any lien, charge, security interest, encumbrance, right of first refusal or other restriction, and all
the equity interests of the Subsidiaries are validly issued and are fully paid, nonassessable and free of preemptive and similar rights.
No Subsidiary is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution
on such Subsidiary&rsquo;s capital stock, from repaying to the Company any loans or advances to such Subsidiary from the Company or from
transferring any of such Subsidiary&rsquo;s property or assets to the Company or any other Subsidiary of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(h)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Capitalization</U>.
The Company has an authorized capitalization as set forth in the Registration Statement and Prospectus and all of the issued shares of
capital stock of the Company have been duly and validly authorized and issued and are fully paid and non-assessable and conform, in all
material respects, to the description of the Stock contained in the Registration Statement and Prospectus</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(i)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Authorization
of Placement Shares</U>. The Placement Shares, when issued and delivered pursuant to the terms approved by the board of directors of the
Company or a duly authorized committee thereof, or a duly authorized executive committee, against payment therefor as provided herein,
will be duly and validly authorized and issued and fully paid and nonassessable, free and clear of any pledge, lien, encumbrance, security
interest or other claim, including any statutory or contractual preemptive rights, resale rights, rights of first refusal or other similar
rights, and will be registered pursuant to Section&nbsp;12 of the Exchange Act. The Placement Shares, when issued, will conform to the
description thereof set forth in or incorporated into the Prospectus.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(j)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Non-Contravention</U>.
The issue and sale of the Placement Shares and the compliance by the Company with this Agreement and the consummation of the transactions
contemplated in this Agreement and the Prospectus Supplement will not conflict with or result in a breach or violation of any of the terms
or provisions of, or constitute a default under, (A)&nbsp;any indenture, mortgage, deed of trust, loan agreement or other agreement or
instrument to which the Company or any of its Subsidiaries is a party or by which the Company is bound or to which any of the property
or assets of the Company is subject, except, in the case of this clause (A)&nbsp;for such defaults, breaches, or violations that would
not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, (B)&nbsp;the certificate of incorporation
or bylaws of the Company, or (C)&nbsp;any statute or any judgment, order, rule&nbsp;or regulation of any court or governmental agency
or body having jurisdiction over the Company or any of its properties except, in the case of this clause (C)&nbsp;for such violations
that would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect; and no consent, approval,
authorization, order, registration or qualification of or with any such court or governmental agency or body is required for the issue
and sale of the Shares or the consummation by the Company of the transactions contemplated by this Agreement, except such as have been
obtained under the Act, the approval by the Financial Industry Regulatory Authority (&ldquo;FINRA&rdquo;) of the underwriting terms and
arrangements, and such consents, approvals, authorizations, registrations or qualifications as may be required under state securities
or Blue Sky laws in connection with the purchase and distribution of the Shares by the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(k)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>No
Violation or Default</U>. Neither the Company nor any of its Subsidiaries is (i)&nbsp;in violation of its certificate of incorporation
or bylaws, (ii)&nbsp;in violation of any statute or any judgment, order, rule&nbsp;or regulation of any court or governmental agency or
body having jurisdiction over the Company or any of its properties, or (iii)&nbsp;in default in the performance or observance of any obligation,
agreement, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument
to which it is a party or by which it or any of its properties may be bound, except, in the case of the foregoing clauses (ii)&nbsp;and
(iii), for such violations or defaults as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(l)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>No
Litigation</U>. Other than as set forth in the Registration Statement or Prospectus, there are no legal, governmental or regulatory investigations,
actions, demands, claims, suits, arbitrations, inquiries or proceedings (&ldquo;<B><U>Actions</U></B>&rdquo;) pending to which the Company
or, to the Company's knowledge, any officer or director of the Company, is a party or of which any property of the Company or, to the
Company's knowledge, any officer or director of the Company, is the subject which, if determined adversely to the Company (or such officer
or director), would individually or in the aggregate have a Material Adverse Effect; and, to the Company's knowledge, no such proceedings
are threatened or contemplated by governmental authorities or others; there are no current or pending Actions that are required under
the Act to be described in the Registration Statement or the Prospectus that are not so described therein; and there are no statutes,
regulations or contracts or other documents that are required under the Act to be filed as exhibits to the Registration Statement or described
in the Registration Statement or the Prospectus that are not so filed as exhibits to the Registration Statement or described in the Registration
Statement and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(m)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Investment
Company Act</U>. The Company is not, and each of its Subsidiaries are not, and, after giving effect to the offering and sale of the Placement
Shares and the application of the proceeds thereof as described in the Prospectus, will not be an &ldquo;investment company&rdquo;, as
such term is defined in the Investment Company Act of 1940, as amended (the &ldquo;<B><U>Investment Company Act</U></B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(n)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Status
Under the Securities Act</U>. The Company was not and is not an ineligible issuer as defined in Rule&nbsp;405 under the Securities Act
at the times specified in Rules&nbsp;164 and 433 under the Securities Act in connection with the offering of the Placement Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(o)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Independent
Public Accounting Firm</U>. Deloitte&nbsp;&amp; Touche LLP, who have certified certain financial statements of the Company, are independent
public accountants as required by the Act and the rules&nbsp;and regulations of the Commission thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(p)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Internal
Controls</U>. The Company and each of its Subsidiaries maintain a system of internal control over financial reporting (as such term is
defined in Rule&nbsp;13a-15(f)&nbsp;under the Securities Exchange Act of 1934, as amended (the &ldquo;<B><U>Exchange Act</U></B>&rdquo;))
that (i)&nbsp;complies with the requirements of the Exchange Act applicable to the Company and each of its Subsidiaries, (ii)&nbsp;has
been designed by the Company&rsquo;s principal executive officer and principal financial officer, or under their supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes
in accordance with generally accepted accounting principles, and (iii)&nbsp;is designed to provide reasonable assurance that (A)&nbsp;transactions
are executed in accordance with management&rsquo;s general or specific authorization, (B)&nbsp;transactions are recorded as necessary
to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability
for assets, (C)&nbsp;access to assets is permitted only in accordance with management&rsquo;s general or specific authorization, (D)&nbsp;the
recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect
to any differences, and (E)&nbsp;the interactive data in eXtensible Business Reporting Language (&ldquo;<B><U>XBRL</U></B>&rdquo;), if
any, included in the Registration Statement is accurate to the extent required and the Company is not aware of any material weaknesses
in its internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(q)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Disclosure
Controls</U>. The Company and each of its Subsidiaries maintain disclosure controls and procedures (as such term is defined in Rule&nbsp;13a-15(e)&nbsp;under
the Exchange Act) that comply with the requirements of the Exchange Act applicable to the Company; such disclosure controls and procedures
have been designed to ensure that material information relating to the Company is made known to the Company&rsquo;s principal executive
officer and principal financial officer by others within the Company; and such disclosure controls and procedures are effective in all
material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(r)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Enforceability</U>.
The Company has full legal right, power and authority to enter into this Agreement and perform the transactions contemplated hereby. This
Agreement has been duly authorized, executed and delivered by the Company and is a legal, valid and binding agreement of the Company enforceable
in accordance with its terms, except to the extent that enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium
or similar laws affecting creditors&rsquo; rights generally and by general equitable principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(s)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>No
Improper Practices</U>. Neither the Company nor any of its Subsidiaries, nor any director, officer or employee of the Company or any of
its Subsidiaries nor to the knowledge of the Company, any director, officer or employee, agent, affiliate or other person associated with
or acting on behalf of the Company or its Subsidiaries has (i)&nbsp;made, offered, promised or authorized any unlawful contribution, gift,
entertainment or other unlawful expense (or taken any act in furtherance thereof); (ii)&nbsp;made, offered, promised or authorized any
direct or indirect unlawful payment; or (iii)&nbsp;violated or is in violation of any provision of the Foreign Corrupt Practices Act of
1977, as amended, or the rules&nbsp;and regulations thereunder, the Bribery Act 2010 of the United Kingdom or any other applicable anti-corruption,
anti-bribery or related law, statute or regulation (collectively, &ldquo;<B><U>Anti-Corruption Laws</U></B>&rdquo;); the Company and each
of its Subsidiaries have conducted its business in compliance with Anti-Corruption Laws and have instituted and maintained and will continue
to maintain policies and procedures reasonably designed to promote and achieve compliance with such laws and with the representations
and warranties contained herein; the Company and each of its Subsidiaries will not use, directly or indirectly, the proceeds of the offering
in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to
any person in violation of Anti-Corruption Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(t)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Operations</U>.
The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with the requirements of applicable
anti-money laundering laws, including, but not limited to, the Bank Secrecy Act of 1970, as amended by the USA PATRIOT ACT of 2001, and
the rules&nbsp;and regulations promulgated thereunder, and the anti-money laundering laws of the various jurisdictions in which the Company
conducts business, the rules&nbsp;and regulations thereunder and any related or similar rules, regulation or guidelines issued, administered
or enforced by any governmental agency (collectively, the &ldquo;<B><U>Money Laundering Laws</U></B>&rdquo;) and no action, suit or proceeding
by or before any court or governmental agency, authority or body or any arbitrator involving the Company with respect to the Money Laundering
Laws is pending or, to the knowledge of the Company, threatened.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(u)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Sanctions</U>.
Neither the Company nor any of its Subsidiaries, nor any director, officer or employee of the Company nor, to the knowledge of the Company,
any agent, affiliate or other person associated with or acting on behalf of the Company or its Subsidiaries is (i)&nbsp;currently the
subject or the target of any sanctions administered or enforced by the U.S. Government, including, without limitation, the Office of Foreign
Assets Control of the U.S. Department of the Treasury (&ldquo;<B><U>OFAC</U></B>&rdquo;), or the U.S. Department of State and including,
without limitation, the designation as a &ldquo;specially designated national&rdquo; or &ldquo;blocked person,&rdquo; the European Union,
His Majesty&rsquo;s Treasury, the United Nations Security Council, or other relevant sanctions authority (collectively, &ldquo;Sanctions&rdquo;),
(ii)&nbsp;located, organized, or resident in a country or territory that is the subject or target of Sanctions (a &ldquo;<B><U>Sanctioned
Jurisdiction</U></B>&rdquo;), and the Company will not directly or indirectly use the proceeds of the offering of the Shares hereunder,
or lend, contribute or otherwise make available such proceeds to any joint venture partner or other person or entity (i)&nbsp;to fund
or facilitate any activities of or business with any person, or in any country or territory, that, at the time of such funding, is the
subject or the target of Sanctions or (ii)&nbsp;in any other manner that will result in a violation by any person (including any person
participating in the transaction, whether as underwriter, advisor, investor or otherwise) of Sanctions; the Company and each of its Subsidiaries
is not engaged in, nor has, at any time in the past five years, engaged in, any dealings or transactions with or involving any individual
or entity that was or is, as applicable, at the time of such dealing or transaction, the subject or target of Sanctions or with any Sanctioned
Jurisdiction; the Company and each of its Subsidiaries has instituted, and maintains, policies and procedures designed to promote and
achieve continued compliance with Sanctions.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(v)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Financial
Information</U>. The financial statements included or incorporated by reference in the Registration Statement and the Prospectus, together
with the related notes, present fairly, in all material respects, the financial position of the Company at the dates indicated and the
statement of operations, stockholders&rsquo; equity and cash flows of the Company for the periods specified; said financial statements
have been prepared in conformity with U.S. generally accepted accounting principles (&ldquo;<B><U>GAAP</U></B>&rdquo;) applied on a consistent
basis throughout the periods involved. The summary financial information included or incorporated by reference in the Registration Statement
and the Prospectus present fairly, in all material respects, the information shown therein and have been compiled on a basis consistent
with that of the audited financial statements included therein. Except as included therein, no historical or pro forma financial statements
or supporting schedules are required to be included in the Registration Statement or the Prospectus under the Act or the rules&nbsp;and
regulations promulgated thereunder.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(w)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Emerging
Growth Company Status</U>. From the time of initial confidential submission of the registration statement relating to the Company&rsquo;s
initial public offering with the Commission through the date hereof, the Company has been and is an &ldquo;emerging growth company&rdquo;
as defined in Section&nbsp;2(a)(19) of the Act (an &ldquo;<B><U>Emerging Growth Company</U></B>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(x)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Labor
Disputes</U>. No labor disturbance by or dispute with current or former employees or officers of the Company exists or, to the Company&rsquo;s
knowledge, is contemplated or threatened, and the Company is not aware of any existing or imminent labor disturbance by, or dispute with,
the employees of any of the Company&rsquo;s principal suppliers, manufacturers or contractors, which in either case would reasonably be
expected to result in a Material Adverse Effect. The Company is not a party to any collective bargaining agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(y)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Insurance</U>.
The Company and each of its Subsidiaries carry, or are covered by, insurance covering its properties, operations, personnel and business,
including business interruption insurance, which insurance is in amounts and insures against such losses and risks, that in the Company&rsquo;s
reasonable judgment, are reasonable and ordinary and customary for comparable companies in the same or similar businesses; and the Company
and each of its Subsidiaries has not (i)&nbsp;received notice from any insurer or agent of such insurer that capital improvements or other
expenditures are required or necessary to be made in order to continue such insurance or (ii)&nbsp;any reason to believe that it will
not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage at reasonable cost
from similar insurers as may be necessary to continue its business.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(z)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Compliance
with Laws</U>. Except as described in the Registration Statement and the Prospectus, the Company and each of its Subsidiaries: (i)&nbsp;has
operated and currently operates its business in compliance in all material respects with all applicable provisions of the Health Care
Laws (as defined below) and any other applicable requirements of the Food and Drug Administration (&ldquo;<B><U>FDA</U></B>&rdquo;), the
Department of Health and Human Services and any comparable foreign or other regulatory authority to which it is subject (collectively,
the &ldquo;<B><U>Applicable Regulatory Authorities</U></B>&rdquo;) relating to the ownership, testing, development, manufacture, packaging,
processing, use, distribution, storage, import, export or disposal of any of the Company&rsquo;s product candidates; (ii)&nbsp;has not
received any FDA Form&nbsp;483, written notice of adverse finding, warning letter, untitled letter or other correspondence or written
notice from any court or arbitrator or Applicable Regulatory Authority alleging or asserting material non-compliance with (A)&nbsp;any
applicable Health Care Laws or (B)&nbsp;or any material licenses, certificates, approvals, clearances, exemptions, registrations, authorizations,
permits and supplements or amendments thereto required by any such applicable Health Care Laws (&ldquo;<B><U>Regulatory Authorizations</U></B>&rdquo;);
(iii)&nbsp;possesses all material Regulatory Authorizations required to conduct its business as currently conducted and such Regulatory
Authorizations are valid and in full force and effect and the Company is not in violation, in any material respect, of any term of any
such Regulatory Authorizations; (iv)&nbsp;has not received written notice of any claim, action, suit, proceeding, hearing, enforcement,
investigation, arbitration or other action from any Applicable Regulatory Authorities alleging that any Company product candidate, operation
or activity is in material violation of any applicable Health Care Laws or Regulatory Authorizations and has no knowledge that any Applicable
Regulatory Authority or any other third party is considering any such claim, litigation, arbitration, action, suit, investigation or proceeding;
(v)&nbsp;has not received written notice that any Applicable Regulatory Authority has taken, is taking or intends to take action to limit,
suspend, modify or revoke any material Regulatory Authorizations and has no knowledge that any Applicable Regulatory Authority is considering
such action; (vi)&nbsp;has filed, obtained, maintained or submitted all material reports, documents, forms, notices, applications, records,
claims, submissions and supplements or amendments as required by any applicable Health Care Laws or Regulatory Authorizations and all
such reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments were materially complete
and correct on the date filed (or were materially corrected or supplemented by a subsequent submission); (vii)&nbsp;is not a party to
or does not have any ongoing reporting obligations pursuant to any corporate integrity agreements, deferred or non-prosecution agreements,
monitoring agreements, consent decrees, settlement orders, plans of correction or similar agreements with or imposed by any Applicable
Regulatory Authority; and (viii)&nbsp;along with its employees, officers and directors, and, to the Company&rsquo;s knowledge, agents,
has not been excluded, suspended or debarred from participation in any government health care program or human clinical research or, to
the knowledge of the Company, is not subject to a governmental inquiry, investigation, proceeding, or other similar action that could
reasonably be expected to result in debarment, suspension, or exclusion. The term &ldquo;<B><U>Health Care Laws</U></B>&rdquo; means Title
XVIII of the Social Security Act, 42 U.S.C. &sect;&sect; 1395-1395hhh (the Medicare statute); Title XIX of the Social Security Act, 42
U.S.C. &sect;&sect; 1396-1396v (the Medicaid statute); the Federal Anti-Kickback Statute, 42 U.S.C. &sect; 1320a-7b(b); the civil False
Claims Act, 31 U.S.C. &sect;&sect; 3729 et seq.; the criminal False Claims Act 42 U.S.C. 1320a-7b(a); any criminal laws relating to health
care fraud and abuse, including but not limited to 18 U.S.C. Sections 286 and 287, and the health care fraud criminal provisions under
the Health Insurance Portability and Accountability Act of 1996, 42 U.S.C. &sect;&sect; 1320d et seq., (&ldquo;<B><U>HIPAA</U></B>&rdquo;);
the Civil Monetary Penalties Law, 42 U.S.C. &sect;&sect; 1320a-7a; the Physician Payments Sunshine Act, 42 U.S.C. &sect; 1320a-7h; the
Exclusion Law, 42 U.S.C. &sect; 1320a-7; HIPAA, as amended by the Health Information Technology for Economic and Clinical Health Act,
42 U.S.C. &sect;&sect; 17921 et seq.; the Federal Food, Drug, and Cosmetic Act, 21 U.S.C. &sect;&sect; 301 et seq.; the regulations promulgated
pursuant to such laws; and any comparable foreign, federal, state and local laws and regulations.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(aa)</B></FONT><B>&#9;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Consents
and Permits</U>. The Company and its Subsidiaries possess, and are in compliance with the terms of, all applications, certificates, approvals,
clearances, registrations, exemptions, franchises, licenses, permits, consents and other authorizations necessary to conduct its business
in the manner described in the Registration Statement and the Prospectus (collectively, &ldquo;<B><U>Licenses</U></B>&rdquo;), issued
by the appropriate governmental agency or body, except as would not, individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect. All Licenses are in full force and effect and the Company is not in violation of any term or conditions of
any License, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company
and its Subsidiaries have fulfilled and performed all of their material obligations with respect to the Licenses and, to the Company&rsquo;s
knowledge, no event has occurred which allows, or after notice or lapse of time would allow, revocation or termination thereof or results
in any other impairment of the rights of the holder of any License, which, in any such case, individually or in the aggregate, would reasonably
be expected to have a Material Adverse Effect. The Company and its Subsidiaries have not received any written notice of proceedings relating
to the revocation or material modification of any Licenses and no governmental agency or body has taken any action to limit, suspend or
revoke any License possessed by the Company.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(bb)</B></FONT><B>&#9;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Clinical
Studies</U>. The preclinical tests and clinical trials, and other studies (collectively, &ldquo;<B><U>studies</U></B>&rdquo;) being conducted
by or on behalf of the Company, that are described in, or the results of which are referred to in, the Registration Statement or the Prospectus
were and, if still pending, are being conducted in all material respects in accordance with all applicable laws and regulations, including,
without limitation, the Federal Food, Drug and Cosmetic Act and its implementing regulations at 21 C.F.R. Parts 50, 54, 56, 58 and 312,
with the protocols, procedures and controls designed and approved for such studies and with standard medical and scientific research procedures;
each description of the results of such studies is accurate and complete in all material respects and fairly presents the data derived
from such studies, and the Company has no knowledge of any other studies, the results of which reasonably call into question the results
described or referred to in the Registration Statement or the Prospectus; to the Company&rsquo;s knowledge, Ascletis Bioscience Co. Ltd.,
or any third party conducting clinical trials of Company&rsquo;s product candidates, is and has conducted such trials in material compliance
with all applicable laws, regulations and protocols and to the Company&rsquo;s knowledge each description of the results of such trials
in the Registration Statement or the Prospectus is accurate and complete in all material respects and fairly presents the data derived
from such trials, and the Company has no knowledge of any other studies, the results of which reasonably call into question the results
of such trials described or referred to in the Registration Statement or the Prospectus; the Company has not received any written notice
of, or correspondence from, any Applicable Regulatory Authority requiring the termination, suspension or material modification of any
clinical trials currently being conducted or proposed to be conducted by or for the Company, that are described or referred to in the
Registration Statement or the Prospectus.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(cc)</B></FONT><B>&#9;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Manufacturing</U>.
To the Company&rsquo;s knowledge, the manufacturing facilities and operations of its suppliers with respect to the Company&rsquo;s product
candidates are operated in compliance in all material respects with all applicable statutes, rules, regulations and policies of the Applicable
Regulatory Authorities.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(dd)</B></FONT><B>&#9;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Intellectual
Property</U>. The Company and its Subsidiaries own or possess all pending patent applications and issued patent rights, licenses, inventions,
copyrights, know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems
or procedures), trademarks, service marks, trade names, or other intellectual property (collectively, &ldquo;<B><U>Intellectual Property</U></B>&rdquo;)
necessary for or used in the conduct, or the proposed conduct, of the business of the Company as described in the Registration Statement
and the Prospectus. All employees or contractors engaged in the development of any Intellectual Property on behalf of the Company and
its Subsidiaries have executed an invention assignment agreement whereby such employees or contractors presently assign all of their rights,
title and interest in and to such Intellectual Property to the Company, and to the Company's knowledge no such agreement has been breached
or violated. The Company and its Subsidiaries have not received any notice or is otherwise aware of any infringement, misappropriation,
or violation of, or conflict with asserted rights of others with respect to any Intellectual Property or of any facts or circumstances
that would render any Intellectual Property invalid, unenforceable, or otherwise inadequate to protect the interest of the Company therein.
All Intellectual Property owned by the Company or its Subsidiaries and registered with any governmental agency or body has been duly maintained
in all material respects in accordance with applicable law, including submission of all necessary filings and payment of fees in accordance
with the legal and administrative requirements of the appropriate jurisdictions. The Company and its Subsidiaries have not received any
notice that any issued patents within the Intellectual Property are invalid or unenforceable, and is not otherwise aware of any facts
or circumstances that would render any issued patents within the Intellectual Property invalid or unenforceable. The Company and its Subsidiaries
use, or have used, commercially reasonable efforts to appropriately maintain all information intended to be maintained as a trade secret.
Moreover, all material technical information developed by and belonging to the Company and its Subsidiaries that has not been disclosed
in a patent application has been kept confidential and, to the Company&rsquo;s knowledge, there is no infringement or misappropriation
by third parties of any Intellectual Property. All employees or contractors engaged in the development of any material trade secrets on
behalf of the Company or its Subsidiaries have executed a confidentiality agreement with the Company.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(ee)</B></FONT><B>&#9;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Cybersecurity</U>.
The Company and its Subsidiaries&rsquo; information technology assets and equipment, computers, systems, networks, hardware, software,
websites, applications, and databases (collectively, &ldquo;<B><U>IT Systems</U></B>&rdquo;) are adequate for, and operate and perform
in all material respects as required in connection with the operation of the business of the Company as currently conducted, and are,
to the Company&rsquo;s knowledge, free and clear of all material bugs, errors, defects, Trojan horses, time bombs, malware and other corruptants;
the Company and each of its Subsidiaries has implemented and maintained reasonable controls, policies, procedures, and safeguards to maintain
and protect its material confidential information and the integrity, continuous operation, redundancy and security of all IT Systems and
data (including all personal, personally identifiable, sensitive, confidential or regulated data (&ldquo;<B><U>Personal Data</U></B>&rdquo;))
used in connection with its business, and there have been no breaches, violations, outages or, to the Company&rsquo;s knowledge, unauthorized
uses of or accesses to same, except for those that have been remedied without material cost or liability or the duty to notify any other
person, nor any incidents under internal review or investigations relating to the same; the Company and each of its Subsidiaries is presently
in compliance in all material respects with all applicable laws or statutes and all judgments, orders, rules&nbsp;and regulations of any
court or arbitrator or governmental or regulatory authority, internal policies and contractual obligations relating to the privacy and
security of IT Systems and Personal Data and to the protection of such IT Systems and Personal Data from unauthorized use, access, misappropriation
or modification.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(ff)</B></FONT><B>&#9;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Statistical
and Market-Related Data</U>. Nothing has come to the attention of the Company that has caused the Company to believe that the statistical
and market-related data included in each of the Registration Statement and the Prospectus is not based on or derived from sources that
are reliable and accurate in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(gg)</B></FONT><B>&#9;&nbsp;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;</B><U>Taxes</U>.
All United States federal income tax returns of the Company and its Subsidiaries required by law to be filed have been filed and all taxes
shown as due on such returns or that otherwise have been assessed, which are due and payable, have been paid, except assessments against
which appeals have been or will be promptly taken and as to which adequate reserves have been provided, or as would not reasonably be
expected to have a Material Adverse Effect. The Company has filed all other material tax returns that are required to have been filed
by them pursuant to applicable foreign, state, local or other law except insofar as the failure to file such returns would not reasonably
be expected to result in a Material Adverse Effect, and has paid all taxes due pursuant to such returns or pursuant to any assessment
received by the Company or its Subsidiaries, except for such taxes, if any, as are being contested in good faith and as to which adequate
reserves have been provided, or as would not reasonably be expected to have a Material Adverse Effect. The charges, accruals and reserves
on the books of the Company and its Subsidiaries in respect of any income tax liability for any years not finally determined are adequate
to meet any assessments or re-assessments for additional income tax for any years not finally determined, except to the extent of any
inadequacy that would not be material. No material tax deficiency has been determined adversely to the Company or its Subsidiaries, nor
does the Company or its Subsidiaries have any written notice or knowledge of any material tax deficiency which could reasonably be expected
to be determined adversely to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(hh)</B></FONT><B>&#9;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Certain
Market Activities</U>. Neither the Company nor any of its controlled affiliates has taken or will take, directly or indirectly, any action
designed to or that could reasonably be expected to cause or result in the stabilization or manipulation of the price of any security
of the Company in connection with the offering of the Placement Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(ii)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Underwriter
Agreements</U>. The Company is not a party to any agreement with an agent or underwriter for any other &ldquo;at the market&rdquo; or
continuous equity transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(jj)</B></FONT><B>&#9;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Related-Party
Transactions</U>. No relationship, direct or indirect, exists between or among the Company, on the one hand, and the directors, officers,
stockholders, customers or suppliers of the Company, on the other, that is required by the Act to be described in the Registration Statement
and the Prospectus and that is not so described in such documents and in the Registration Statement and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(kk)</B></FONT><B>&#9;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;</B><U>Sarbanes-Oxley</U>.
There is and has been no failure on the part of the Company or any of the Company&rsquo;s directors or officers, in their capacities as
such, to comply with any applicable provision of the Sarbanes-Oxley Act of 2002, as amended and the rules&nbsp;and regulations promulgated
in connection therewith, including Section&nbsp;402 related to loans and Sections 302 and 906 related to certifications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(ll)</B></FONT><B>&#9;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>No
Debt</U>. The Company has no debt securities or preferred stock rated by any &ldquo;nationally recognized statistical rating organization,&rdquo;
as defined in Section&nbsp;3(a)(62) of the Exchange Act</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(mm)</B></FONT><B>&#9;&nbsp;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;</B><U>XBRL</U>.
The interactive data in XBRL, if any, included in the Registration Statement fairly presents the information called for in all material
respects and has been prepared in accordance with the Commission&rsquo;s rules&nbsp;and guidelines applicable thereto to the extent required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(nn)</B></FONT><B>&#9;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Conformity
with EDGAR Filing</U>. The Prospectus delivered to the Agent for use in connection with the sale of the Placement Shares pursuant to this
Agreement will be identical to the versions of the Prospectus created to be transmitted to the Commission for filing via EDGAR, except
to the extent permitted by Regulation S-T.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(oo)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Market
Capitalization</U>. At the time the Registration Statement was or will be originally declared effective, and at the time the Company&rsquo;s
most recent Annual Report on Form&nbsp;10-K was filed with the Commission, the Company met or will meet the then applicable requirements
for the use of Form&nbsp;S-3 under the Securities Act, including, but not limited to, General Instruction I.B.1 of Form&nbsp;S-3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(pp)</B></FONT><B>&#9;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;</B><U>FINRA
Matters</U>. The information provided to the Agent by the Company, its counsel, and its officers and directors for purposes of the Agent&rsquo;s
compliance with applicable FINRA rules&nbsp;in connection with the offering of the Shares is true, complete, and correct and compliant
with FINRA&rsquo;s rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(qq)</B></FONT><B>&#8239;&#8239;&#8239;&#8239;&#8239;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Finder&rsquo;s
Fees</U>. Neither the Company nor any of the Subsidiaries has incurred any liability for any finder&rsquo;s fees, brokerage commissions
or similar payments in connection with the transactions herein contemplated, except as may otherwise exist with respect to the Agent pursuant
to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(rr)</B></FONT><B>&#9;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Agent
Purchases</U>. The Company acknowledges and agrees that the Agent has informed the Company that the Agent may, to the extent permitted
under the Securities Act and the Exchange Act, purchase and sell Common Stock for its own account while this Agreement is in effect, <I>provided</I>,
that the Company shall not be deemed to have authorized or consented to any such purchases or sales by the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(ss)</B></FONT><B>&#9;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Outbound
Investment Security Program</U>. The Company is not a &ldquo;covered foreign person&rdquo;, as that term is defined in 31 C.F.R. &sect;
850.209. The Company does not currently engage, or have plans to engage, directly or indirectly, in a &ldquo;covered activity&rdquo;,
as that term is defined in 31 C.F.R. &sect; 850.208 (&ldquo;<B><U>Covered Activity</U></B>&rdquo;). The Company does not have any joint
venture that engages in or plans to engage in any Covered Activity. The Company also does not, directly or indirectly, hold a board seat
on, have a voting or equity interest in, or have any contractual power to direct or cause the direction of the management or policies
of any person or persons that engages or plans to engage in any Covered Activity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(tt)</B></FONT><B>&#9;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Margin
Rules</U>. Neither the issuance, sale and delivery of the Placement Shares nor the application of the proceeds thereof by the Company
as described in the Registration Statement and the Prospectus will violate Regulation T, U or X of the Board of Governors of the Federal
Reserve System or any other regulation of such Board of Governors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any certificate signed by any officer of the Company
and delivered to the Agent or its counsel in connection with the offering of the Placement Shares shall be deemed a representation and
warranty by the Company, as to matters covered thereby, to the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>7.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Covenants
of the Company</U>. The Company covenants and agrees with the Agent that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Registration
Statement Amendments</U>. After the date of this Agreement and during any period in which the Prospectus relating to any Placement Shares
is required to be delivered by the Agent under the Securities Act (including in circumstances where such requirement may be satisfied
pursuant to Rule&nbsp;172 under the Securities Act or a similar rule); (i)&nbsp;the Company will notify the Agent promptly of the time
when any subsequent amendment to the Registration Statement, other than Incorporated Documents, has been filed with the Commission and/or
has become effective or any subsequent supplement to the Prospectus, other than Incorporated Documents, has been filed and of any request
by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information; (ii)&nbsp;the
Company will prepare and file with the Commission, promptly upon the Agent&rsquo;s reasonable request, any amendments or supplements to
the Registration Statement or Prospectus that, in the Agent&rsquo;s reasonable opinion, may be necessary or advisable in connection with
the distribution of the Placement Shares by the Agent (provided, however, that the failure of the Agent to make such request shall not
relieve the Company of any obligation or liability hereunder, or affect the Agent&rsquo;s right to rely on the representations and warranties
made by the Company in this Agreement and provided, further, that the only remedy the Agent shall have with respect to the failure by
the Company to make such filing (but without limiting the Agent&rsquo;s rights under Section&nbsp;9 hereof) will be to cease making sales
under this Agreement until such amendment or supplement is filed); (iii)&nbsp;the Company will not file any amendment or supplement to
the Registration Statement or Prospectus, other than Incorporated Documents, relating to the Placement Shares or a security convertible
into or exchangeable or exercisable for the Placement Shares unless a copy thereof has been submitted to the Agent within a reasonable
period of time before the filing and the Agent has not reasonably objected thereto (provided, however, that the failure of the Agent to
make such objection shall not relieve the Company of any obligation or liability hereunder, or affect the Agent&rsquo;s right to rely
on the representations and warranties made by the Company in this Agreement and provided, further, that the only remedy the Agent shall
have with respect to the Company&rsquo;s making such filing notwithstanding the Agent&rsquo;s objection (but without limiting the Agent&rsquo;s
rights under Section&nbsp;9 hereof) will be to cease making sales under this Agreement) and the Company will furnish to the Agent at the
time of filing thereof a copy of any Incorporated Document, except for those documents available via EDGAR; and (iv)&nbsp;the Company
will cause each amendment or supplement to the Prospectus, other than Incorporated Documents, to be filed with the Commission as required
pursuant to the applicable paragraph of Rule&nbsp;424(b)&nbsp;of the Securities Act and, in the case of any Incorporated Document, to
be filed with the Commission as required pursuant to the Exchange Act, within the time period prescribed. The determination to file or
not file any amendment or supplement with the Commission under this Section&nbsp;7(a), based on the Company&rsquo;s reasonable opinion
or reasonable objection, shall be made exclusively by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Notice
of Commission Stop Orders</U>. The Company will advise the Agent, promptly after it receives notice or obtains knowledge thereof, of the
issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement, of the
suspension of the qualification of the Placement Shares for offering or sale in any jurisdiction or of the initiation or threatening of
any proceeding for any such purpose; and it will promptly use its commercially reasonable efforts to prevent the issuance of any stop
order or to obtain its withdrawal if such a stop order should be issued. The Company will advise the Agent promptly after it receives
any request by the Commission for any amendments to the Registration Statement or any amendment or supplements to the Prospectus or for
additional information related to the offering of the Placement Shares or for additional information related to the Registration Statement
or the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(c)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Delivery
of Prospectus; Subsequent Changes</U>. During any period in which the Prospectus relating to the Placement Shares is required to be delivered
by the Agent under the Securities Act with respect to the offer and sale of the Placement Shares (including in circumstances where such
requirement may be satisfied pursuant to Rule&nbsp;172 under the Securities Act or a similar rule), the Company will comply with all requirements
imposed upon it by the Securities Act, as from time to time in force, and will file on or before their respective due dates (taking into
account any extensions available under the Exchange Act) all reports and any definitive proxy or information statements required to be
filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, 15(d)&nbsp;or any other provision of or under the Exchange
Act. If during such period any event occurs as a result of which the Prospectus as then amended or supplemented would include an untrue
statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances
then existing, not misleading, or if during such period it is necessary to amend or supplement the Registration Statement or Prospectus
to comply with the Securities Act, the Company will promptly notify the Agent to suspend the offering of Placement Shares during such
period and the Company will promptly amend or supplement the Registration Statement or Prospectus (at the expense of the Company) so as
to correct such statement or omission or effect such compliance; provided, however, the Company may delay the filing of any amendment
or supplement if, in the reasonable judgment of the Company, it is in the best interest of the Company to do so. If the Company has omitted
any information from the Registration Statement pursuant to Rule&nbsp;430B under the Securities Act, it will use its best efforts to comply
with the provisions thereof and make all requisite filings with the Commission pursuant to said Rule&nbsp;430B and to notify the Agent
promptly of all such filings if not available on EDGAR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(d)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Listing
of Placement Shares</U>. During any period in which the Prospectus relating to the Placement Shares is required to be delivered by the
Agent under the Securities Act with respect to the offer and sale of the Placement Shares (including in circumstances where such requirement
may be satisfied pursuant to Rule&nbsp;172 under the Securities Act or a similar rule), the Company will use its commercially reasonable
efforts to cause the Placement Shares to be listed on Nasdaq. The Company will timely file with Nasdaq all material documents and notices
required by Nasdaq of companies that have or will issue securities that are traded on Nasdaq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(e)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Delivery
of Registration Statement and Prospectus</U>. The Company will furnish to the Agent and its counsel (at the reasonable expense of the
Company) copies of the Registration Statement, the Prospectus (including all Incorporated Documents) and all amendments and supplements
to the Registration Statement or Prospectus that are filed with the Commission during any period in which the Prospectus relating to the
Placement Shares is required to be delivered under the Securities Act (including all Incorporated Documents filed with the Commission
during such period), in each case as soon as reasonably practicable and in such quantities as the Agent may from time to time reasonably
request and, at the Agent&rsquo;s request, will also furnish copies of the Prospectus to each exchange or market on which sales of the
Placement Shares may be made; <I>provided</I>, <I>however</I>, that the Company shall not be required to furnish any document (other than
the Prospectus) to the Agent to the extent such document is available on EDGAR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(f)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Earnings
Statement</U>. The Company will make generally available to its security holders and to the Agent as soon as practicable, but in any event
not later than 15 months after the end of the Company&rsquo;s current fiscal quarter, an earnings statement covering a 12-month period
that satisfies the provisions of Section&nbsp;11(a)&nbsp;of and Rule&nbsp;158 under the Securities Act. The Company&rsquo;s compliance
with the periodic reporting requirements of the Exchange Act shall be deemed to satisfy the requirements of this Section&nbsp;7(f).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(g)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Expenses</U>.
The Company, whether or not the transactions contemplated hereunder are consummated or this Agreement is terminated in accordance with
the provisions of Section&nbsp;11 hereunder, will pay all expenses incident to the performance of its obligations hereunder, including
expenses relating to (i)&nbsp;the preparation, printing and filing of the Registration Statement and each amendment and supplement thereto,
of the Prospectus and of each amendment and supplement thereto and of this Agreement and such other documents as may be required in connection
with the offering, purchase, sale, issuance or delivery of the Placement Shares, (ii)&nbsp;the preparation, issuance, sale and delivery
of the Placement Shares and any taxes due or payable in connection therewith, (iii)&nbsp;the qualification of the Placement Shares under
securities laws in accordance with the provisions of Section&nbsp;7(w)&nbsp;of this Agreement, including filing fees (provided, however,
that any fees or disbursements of counsel for the Agent in connection therewith shall be paid by the Agent except as set forth in clauses
(vii)&nbsp;and (viii)&nbsp;below), (iv)&nbsp;the printing and delivery to the Agent and its counsel of copies of the Prospectus and any
amendments or supplements thereto, and of this Agreement, (v)&nbsp;the fees and expenses incurred in connection with the listing or qualification
of the Placement Shares for trading on Nasdaq, (vi)&nbsp;the filing fees and expenses, if any, owed to the Commission or FINRA and the
fees and expenses of any transfer agent or registrar for the Placement Shares, (vii)&nbsp;the fees and associated expenses of the Agent&rsquo;s
outside legal counsel for filings with the FINRA Corporate Financing Department in an amount not to exceed $15,000 (excluding FINRA filing
fees referred to in clause (vi)&nbsp;above and in addition to the fees and disbursements referred to in clause (viii)&nbsp;below), and
(viii)&nbsp;the reasonable fees and disbursements of the Agent&rsquo;s outside legal counsel (A)&nbsp;in an amount not to exceed $100,000
arising out of executing this Agreement and the Company&rsquo;s delivery of the initial certificate pursuant to Section&nbsp;7(m), (B)&nbsp;in
an amount not to exceed $30,000 in connection with each Representation Date (as defined below) involving the filing of a Form&nbsp;10-K
(including any Form&nbsp;10-K/A containing amended financial information or a material amendment to the previously filed Form&nbsp;10-K)
on which the Company is required to provide a certificate pursuant to Section&nbsp;7(m)&nbsp;(in addition to the fees and associated expenses
referred to in clause (vii)&nbsp;above) and (C)&nbsp;in an amount not to exceed $20,000 in connection with each Representation Date (as
defined below) on which the Company is required to provide a certificate pursuant to Section&nbsp;7(m)&nbsp;(in addition to the fees and
associated expenses referred to in clause (vii)&nbsp;above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(h)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Use
of Proceeds</U>. The Company will use the Net Proceeds as described in the Prospectus in the section entitled &ldquo;Use of Proceeds.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(i)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Notice
of Other Sales</U>. Without the prior written consent of the Agent, the Company will not, directly or indirectly, offer to sell, sell,
contract to sell, grant any option to sell or otherwise dispose of any shares of Common Stock (other than the Placement Shares offered
pursuant to this Agreement) or securities convertible into or exchangeable or exercisable for shares of Common Stock, warrants or any
rights to purchase or acquire shares of Common Stock during the period beginning on the fifth Trading Day immediately prior to the date
on which any Placement Notice is delivered to Agent hereunder and ending on the second Trading Day immediately following the final Settlement
Date with respect to Placement Shares sold pursuant to such Placement Notice (or, if the Placement Notice has been terminated or suspended
prior to the sale of all Placement Shares covered by a Placement Notice, the date of such suspension or termination); and will not directly
or indirectly in any other &ldquo;at the market offering&rdquo; or continuous equity transaction offer to sell, sell, contract to sell,
grant any option to sell or otherwise dispose of any shares of Common Stock (other than the Placement Shares offered pursuant to this
Agreement) or securities convertible into or exchangeable or exercisable for shares of Common Stock, warrants or any rights to purchase
or acquire, shares of Common Stock prior to the later of the termination of this Agreement and the twentieth day immediately following
the final Settlement Date with respect to Placement Shares sold pursuant to such Placement Notice; <I>provided</I>, <I>however</I>, that
such restrictions will not be required in connection with the Company&rsquo;s issuance or sale of (i)&nbsp;shares of Common Stock, options
to purchase shares of Common Stock, other securities under the Company&rsquo;s existing equity incentive plans, or shares of Common Stock
issuable upon the exercise of options or vesting of other securities, pursuant to any employee or director stock option or benefits plan,
stock ownership plan or dividend reinvestment plan (but not shares of Common Stock subject to a waiver to exceed plan limits in its dividend
reinvestment plan) of the Company whether now in effect or hereafter implemented, (ii)&nbsp;shares of Common Stock issuable upon conversion
of securities or the exercise of warrants, options or other rights in effect or outstanding, and disclosed in filings by the Company available
on EDGAR or otherwise in writing to the Agent and (iii)&nbsp;shares of Common Stock or securities convertible into or exchangeable for
shares of Common Stock as consideration for mergers, acquisitions, other business combinations or strategic alliances occurring after
the date of this Agreement which are not issued for capital raising purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(j)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Change
of Circumstances</U>. The Company will, at any time during the pendency of a Placement Notice, advise the Agent promptly after it shall
have received notice or obtained knowledge of any information or fact that would alter or affect in any material respect any opinion,
certificate, letter or other document provided or required to be provided to the Agent pursuant to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(k)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Due
Diligence Cooperation</U>. During the term of this Agreement, the Company will cooperate with any reasonable due diligence review conducted
by the Agent, its affiliates agents and counsel from time to time in connection with the transactions contemplated hereby, including providing
information and making available documents and senior corporate officers, during regular business hours and at the Company&rsquo;s principal
offices, as the Agent may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(l)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Required
Filings Relating to Placement of Placement Shares</U>. The Company agrees that on or prior to such dates as the Securities Act shall require,
the Company will (i)&nbsp;file a prospectus supplement with the Commission under the applicable paragraph of Rule&nbsp;424(b)&nbsp;under
the Securities Act, which prospectus supplement will set forth, within the relevant period, the number or amount of Placement Shares sold
through the Agent, the Net Proceeds to the Company and the compensation payable by the Company to the Agent with respect to such Placement
Shares, and (ii)&nbsp;deliver such number of copies of each such prospectus supplement to each exchange or market on which such sales
were effected as may be required by the rules&nbsp;or regulations of such exchange or market; <I>provided</I>, that, unless a prospectus
supplement containing such information is required to be filed under the Securities Act, the requirement of this Section&nbsp;7(l)&nbsp;may
be satisfied by Company&rsquo;s inclusion in the Company&rsquo;s Form&nbsp;10-K or Form&nbsp;10-Q, as applicable, of the number or amount
of Placement Shares sold through the Agent, the Net Proceeds to the Company and the compensation payable by the Company to the Agent with
respect to such Placement Shares during the relevant period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(m)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Representation
Dates; Certificate</U>. On or prior to the date on which the Company first delivers a Placement Notice pursuant to this agreement (the
 &ldquo;<B><U>First Placement Notice Date</U></B>&rdquo;) and each time the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(i)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>amends
or supplements the Registration Statement or the Prospectus relating to the Placement Shares (other than a prospectus supplement filed
in accordance with Section&nbsp;7(l)&nbsp;of this Agreement) by means of a post-effective amendment, sticker or supplement but not by
means of incorporation of document(s)&nbsp;by reference into the Registration Statement or the Prospectus relating to the Placement Shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(ii)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>files
an annual report on Form&nbsp;10-K under the Exchange Act (including any Form&nbsp;10-K/A containing amended financial information or
a material amendment to the previously filed Form&nbsp;10-K);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(iii)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>files
a quarterly report on Form&nbsp;10-Q under the Exchange Act; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(iv)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8239;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>files
a current report on Form&nbsp;8-K containing amended financial information (other than an earnings release that is &ldquo;furnished&rdquo;
pursuant to Item 2.02 or Item 7.01 of Form&nbsp;8-K) under the Exchange Act (each date of filing of one or more of the documents referred
to in clauses (i)&nbsp;through (iv)&nbsp;shall be a &ldquo;<B><U>Representation Date</U></B>&rdquo;), the Company shall furnish the Agent
(but in the case of clause (iv)&nbsp;above only if (1)&nbsp;a Placement Notice is pending or in effect and (2)&nbsp;the Agent requests
such certificate within three Business Days after the filing of such Form&nbsp;8-K with the Commission) with a certificate, in the form
attached hereto as <B><U>Exhibit&nbsp;7(m)</U>&nbsp;</B>(modified, as necessary, to relate to the Registration Statement and the Prospectus
as then amended or supplemented), within two Trading Days of any Representation Date. The requirement to provide a certificate under
this Section&nbsp;7(m)&nbsp;shall be waived for any Representation Date occurring at a time at which no Placement Notice is pending or
in effect, which waiver shall continue until the earlier to occur of (1)&nbsp;the date the Company delivers a Placement Notice hereunder
(which for such calendar quarter shall be considered a Representation Date) and (2)&nbsp;the next occurring Representation Date. Notwithstanding
the foregoing, if the Company subsequently decides to sell Placement Shares following a Representation Date on which the Company relied
on the waiver referred to in the previous sentence and did not provide the Agent with a certificate under this Section&nbsp;7(m), then
before the Company delivers a Placement Notice or the Agent sells any Placement Shares pursuant thereto, the Company shall provide the
Agent with a certificate, in the form attached hereto as <B><U>Exhibit&nbsp;7(m)</U></B>, dated the date of such Placement Notice. Within
two Trading Days of each Representation Date, the Company shall have furnished to the Agent such further information, certificates and
documents as the Agent may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(n)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Legal
Opinions</U>. On or prior to the First Placement Notice Date and on any date which the Company is obligated to deliver a certificate pursuant
to Section&nbsp;7(m)&nbsp;for which no waiver is applicable, the Company shall cause to be furnished to the Agent the written opinion
and negative assurance letter of Goodwin Procter LLP, counsel to the Company, or such other counsel satisfactory to the Agent (&ldquo;<B><U>Company
Counsel</U></B>&rdquo;), in form and substance satisfactory to the Agent and its counsel, dated the date that the opinion and negative
assurance letter are required to be delivered, modified, as necessary, to relate to the Registration Statement and the Prospectus as then
amended or supplemented; <I>provided</I>, <I>however</I>, that in lieu of such opinion and negative assurance letter for subsequent Representation
Dates, Company Counsel may furnish the Agent with a letter to the effect that the Agent may rely on a prior opinion or negative assurance
letter delivered by such counsel under this Section&nbsp;7(n)&nbsp;to the same extent as if it were dated the date of such letter (except
that statements in such prior opinion or negative assurance letter shall be deemed to relate to the Registration Statement and the Prospectus
as amended or supplemented at such Representation Date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(o)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Intellectual
Property Opinion</U>. On or prior to the First Placement Notice Date and on any date which the Company is obligated to deliver a certificate
pursuant to Section&nbsp;7(m)&nbsp;for which no waiver is applicable, the Company shall cause to be furnished to the Agent the written
opinion of Goodwin Procter LLP, counsel for the Company with respect to intellectual property matters, or such other intellectual property
counsel satisfactory to the Agent (&ldquo;<B><U>Intellectual Property Counsel</U></B>&rdquo;), in form and substance satisfactory to the
Agent and its counsel, dated the date that the opinion letter is required to be delivered, modified, as necessary, to relate to the Registration
Statement and the Prospectus as then amended or supplemented; <I>provided</I>, <I>however</I>, that in lieu of such written opinion for
subsequent Representation Dates,&nbsp;Intellectual Property Counsel may furnish the Agent with a letter to the effect that the Agent may
rely on a prior opinion letter delivered by such counsel under this Section&nbsp;7(o)&nbsp;to the same extent as if it were dated the
date of such opinion letter (except that statements in such prior opinion letter shall be deemed to relate to the Registration Statement
and the Prospectus as amended or supplemented at such Representation Date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(p)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Comfort
Letter</U>. On or prior to the First Placement Notice Date and on any date which the Company is obligated to deliver a certificate pursuant
to Section&nbsp;7(m)&nbsp;for which no waiver is applicable, the Company shall cause its independent registered public accounting firm
(and any other independent accountants whose report is included in the Registration Statement or the Prospectus) to furnish the Agent
letters (the &ldquo;<B><U>Comfort Letters</U></B>&rdquo;), dated the date the Comfort Letter is delivered, which shall meet the requirements
set forth in this Section&nbsp;7(p); <I>provided</I>, that if requested by the Agent, the Company shall cause a Comfort Letter to be furnished
to the Agent within 10 Trading Days of the occurrence of any material transaction or event that necessitates the filing of additional,
pro forma, amended or revised financial statements (including any restatement of previously issued financial statements). Each Comfort
Letter shall be in form and substance satisfactory to the Agent and each Comfort Letter from the Company&rsquo;s independent registered
public accounting firm shall (i)&nbsp;confirm that they are an independent registered public accounting firm within the meaning of the
Securities Act and the PCAOB, (ii)&nbsp;state, as of such date, the conclusions and findings of such firm with respect to the financial
information and other matters ordinarily covered by accountants&rsquo; &ldquo;comfort letters&rdquo; to underwriters in connection with
registered public offerings (the first such letter, the &ldquo;<B><U>Initial Comfort Letter</U></B>&rdquo;) and (iii)&nbsp;update the
Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given on such date
and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such
letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(q)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Market
Activities</U>. The Company will not, directly or indirectly (i)&nbsp;take any action designed to cause or result in, or that constitutes
or would reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate
the sale or resale of shares of Common Stock or (ii)&nbsp;sell, bid for, or purchase shares of Common Stock in violation of Regulation
M, or pay anyone any compensation for soliciting purchases of the Placement Shares other than the Agent; <I>provided</I>, <I>however</I>,
that the Company may bid for and purchase shares of Common Stock in accordance with Rule&nbsp;10b-18 under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(r)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Insurance</U>.
The Company and its Subsidiaries shall maintain, or cause to be maintained, insurance in such amounts and covering such risks as is reasonable
and customary for the business for which it is engaged.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(s)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Compliance
with Laws</U>. The Company and each of its Subsidiaries shall maintain, or cause to be maintained, all material environmental certificates,
authorizations or permits required by federal, state and local law in order to conduct their businesses as described in the Prospectus
(collectively, &ldquo;<B>Permits</B>&rdquo;), and the Company and each of its Subsidiaries shall conduct their businesses, or cause their
businesses to be conducted, in substantial compliance with such Permits and with applicable Environmental Laws, except where the failure
to maintain or be in compliance with such Permits could not reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(t)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Investment
Company Act</U>. The Company will conduct its affairs in such a manner so as to reasonably ensure that neither it nor any of its Subsidiaries
will be or become, at any time prior to the termination of this Agreement, an &ldquo;investment company,&rdquo; as such term is defined
in the Investment Company Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(u)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Securities
Act and Exchange Act</U>. The Company will use its reasonable best efforts to comply with all requirements imposed upon it by the Securities
Act and the Exchange Act as from time to time in force, so far as necessary to permit the sales of, or dealings in, the Placement Shares
as contemplated by the provisions hereof and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(v)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>No
Offer to Sell</U>. Other than a free writing prospectus (as defined in Rule&nbsp;405 under the Securities Act) approved in advance by
the Company and the Agent, neither the Agent nor the Company (including its agents and representatives, other than the Agent in its capacity
as agent) will make, use, prepare, authorize, approve or refer to any written communication (as defined in Rule&nbsp;405 under the Securities
Act), required to be filed with the Commission, that constitutes an offer to sell or solicitation of an offer to buy Placement Shares
hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(w)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Blue
Sky and Other Qualifications</U>. The Company will use its commercially reasonable efforts, in cooperation with the Agent, to qualify
the Placement Shares for offering and sale, or to obtain an exemption for the Placement Shares to be offered and sold, under the applicable
securities laws of such states and other jurisdictions (domestic or foreign) as the Agent may designate and to maintain such qualifications
and exemptions in effect for so long as required for the distribution of the Placement Shares (but in no event for less than one year
from the date of this Agreement); <I>provided, however</I>, that the Company shall not be obligated to file any general consent to service
of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or
to subject itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject. In each jurisdiction
in which the Placement Shares have been so qualified or exempt, the Company will file such statements and reports as may be required by
the laws of such jurisdiction to continue such qualification or exemption, as the case may be, in effect for so long as required for the
distribution of the Placement Shares (but in no event for less than one year from the date of this Agreement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(x)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Sarbanes-Oxley
Act</U>. The Company will maintain and keep accurate books and records reflecting its assets and maintain internal accounting controls
in a manner designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with GAAP and including those policies and procedures that (i)&nbsp;pertain to the maintenance
of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company, (ii)&nbsp;provide
reasonable assurance that transactions are recorded as necessary to permit the preparation of the Company&rsquo;s financial statements
in accordance with GAAP, (iii)&nbsp;that receipts and expenditures of the Company are being made only in accordance with management&rsquo;s
and the Company&rsquo;s directors&rsquo; authorization, and (iv)&nbsp;provide reasonable assurance regarding prevention or timely detection
of unauthorized acquisition, use or disposition of the Company&rsquo;s assets that could have a material effect on its financial statements.
The Company will maintain such controls and other procedures, including, without limitation, those required by Sections 302 and 906 of
the Sarbanes-Oxley Act, and the applicable regulations thereunder that are designed to ensure that information required to be disclosed
by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within
the time periods specified in the Commission&rsquo;s rules&nbsp;and forms, including, without limitation, controls and procedures designed
to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is accumulated
and communicated to the Company&rsquo;s management, including its principal executive officer and principal financial officer, or persons
performing similar functions, as appropriate to allow timely decisions regarding required disclosure and to ensure that material information
relating to the Company is made known to it by others within the Company, particularly during the period in which such periodic reports
are being prepared..</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(y)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Emerging
Growth Company</U>. The Company will promptly notify the Agent if the company ceases to be an Emerging Growth Company at any time prior
to the completion of the Agent&rsquo;s distribution of the Placement Shares pursuant to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(z)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Renewal
of Registration Statement.</U> If, immediately prior to the third anniversary of the initial effective date of the Registration Statement
(the &ldquo;<B><U>Renewal Date</U></B>&rdquo;), any of the Placement Shares remain unsold and this Agreement has not been terminated,
the Company will, prior to the Renewal Date, and if eligible to do so, file a new shelf registration statement or, if applicable, an automatic
shelf registration statement relating to the Common Stock that may be offered and sold pursuant to this Agreement (which shall include
a prospectus reflecting the number or amount of Placement Shares that may be offered and sold pursuant to this Agreement), in a form satisfactory
to the Agent and its counsel, and, if such registration statement is not an automatic shelf registration statement, will use its reasonable
best efforts to cause such registration statement to be declared effective within 180 days after the Renewal Date. The Company will take
all other reasonable actions necessary or appropriate to permit the public offer and sale of the Placement Shares to continue as contemplated
in the expired registration statement and this Agreement. From and after the effective date thereof, references herein to the &ldquo;Registration
Statement&rdquo; shall include such new shelf registration statement or such new automatic shelf registration statement, as the case may
be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(aa)</B></FONT><B>&#9;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;&nbsp;</B><U>General
Instruction I.B.6. of Form&nbsp;S-3</U>. If, from and after the date of this Agreement, the Company is no longer eligible to use Form&nbsp;S-3
(including pursuant to General Instruction I.B.6.) at the time it files with the Commission an annual report on Form&nbsp;10-K or any
post-effective amendment to the Registration Statement, then it shall promptly notify the Agent and, within two Business Days after the
date of filing of such annual report on Form&nbsp;10-K or amendment to the Registration Statement, the Company shall file a new prospectus
supplement with the Commission reflecting the number of shares of Common Stock available to be offered and sold by the Company under this
Agreement pursuant to General Instruction I.B.6. of Form&nbsp;S-3; <I>provided</I>, <I>however</I>, that the Company may delay the filing
of any such prospectus supplement for up to 30 days if, in the reasonable judgment of the Company, it is in the best interest of the Company
to do so, provided that no Placement Notice is in effect or pending during such time. Until such time as the Company shall have corrected
such misstatement or omission or effected such compliance, the Company shall not notify the Agent to resume the offering of Placement
Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(bb)</B></FONT><B>&#9;&nbsp;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;</B><U>Tax
Indemnity</U>. The Company will indemnify and hold harmless the Agent against any documentary, stamp or similar issue tax, including any
interest and penalties, on the issue and sale of the Placement Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(cc)</B></FONT><B>&#9;&nbsp;&nbsp;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;</B><U>Transfer
Agent</U>. The Company has engaged and will maintain, at its sole expense, a transfer agent and registrar for the Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>8.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Conditions
to the Agent&rsquo;s Obligations</U>. The obligations of the Agent hereunder with respect to a Placement will be subject to the continuing
accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its
obligations hereunder, to the completion by the Agent of a due diligence review satisfactory to the Agent in its reasonable judgment,
and to the continuing satisfaction (or waiver by the Agent in its sole discretion) of the following additional conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Registration
Statement Effective</U>. The Registration Statement shall be effective and shall be available for all offers and sales of Placement Shares
(i)&nbsp;that have been issued pursuant to all prior Placement Notices and (ii)&nbsp;that will be issued pursuant to any Placement Notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Prospectus
Supplement</U>. The Company shall have filed with the Commission the Prospectus Supplement pursuant to Rule&nbsp;424(b)&nbsp;under the
Securities Act not later than the Commission&rsquo;s close of business on the second Business Day following the date of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(c)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>No
Material Notices</U>. None of the following events shall have occurred and be continuing: (i)&nbsp;receipt by the Company or any of its
Subsidiaries of any request for additional information from the Commission or any other federal or state governmental authority during
the period of effectiveness of the Registration Statement, the response to which would require any post-effective amendments or supplements
to the Registration Statement or the Prospectus; (ii)&nbsp;the issuance by the Commission or any other federal or state governmental authority
of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt
by the Company or any of its Subsidiaries of any notification with respect to the suspension of the qualification or exemption from qualification
of any of the Placement Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv)&nbsp;the
occurrence of any event that makes any material statement made in the Registration Statement or the Prospectus or any material Incorporated
Document untrue in any material respect or that requires the making of any changes in the Registration Statement, the Prospectus or Incorporated
Documents so that, in the case of the Registration Statement, it will not contain any 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 and, in the case of the Prospectus,
so that it will not contain any 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, in the light of the circumstances under which they were made, not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(d)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>No
Misstatement or Material Omission</U>. The Agent shall not have advised the Company that the Registration Statement or Prospectus, or
any amendment or supplement thereto, contains an untrue statement of fact that in the Agent&rsquo;s opinion is material, or omits to state
a fact that in the Agent&rsquo;s opinion is material and is required to be stated therein or is necessary to make the statements therein
not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(e)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Material
Changes</U>. Except as contemplated in the Prospectus, or disclosed in the Company&rsquo;s reports filed with the Commission, there shall
not have been any material adverse change, on a consolidated basis, in the authorized capital stock of the Company or any Material Adverse
Effect or any development that could reasonably be expected to result in a Material Adverse Effect, or any downgrading in or withdrawal
of the rating assigned to any of the Company&rsquo;s securities (other than asset backed securities), if any, by any rating organization
or a public announcement by any rating organization that it has under surveillance or review its rating of any of the Company&rsquo;s
securities (other than asset backed securities), if any, the effect of which, in the judgment of the Agent (without relieving the Company
of any obligation or liability it may otherwise have), is so material as to make it impracticable or inadvisable to proceed with the offering
of the Placement Shares on the terms and in the manner contemplated in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(f)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Company
Counsel Legal Opinions</U>. The Agent shall have received the opinions and negative assurance letters, as applicable, of Company Counsel
and Intellectual Property Counsel required to be delivered pursuant to Section&nbsp;7(n)&nbsp;and Section&nbsp;7(o), as applicable, on
or before the date on which such delivery of such opinions and negative assurance letters are required pursuant to Section&nbsp;7(n)&nbsp;and
Section&nbsp;7(o), as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(g)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Agent&rsquo;s
Counsel Legal Opinion</U>. The Agent shall have received from Cooley LLP, counsel for the Agent, such opinion or opinions, on or before
the date on which the delivery of the Company Counsel legal opinion is required pursuant to Section&nbsp;7(n), with respect to such matters
as the Agent may reasonably require, and the Company shall have furnished to such counsel such documents as they may request to enable
them to pass upon such matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(h)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Comfort
Letter</U>. The Agent shall have received the Comfort Letter required to be delivered pursuant to Section&nbsp;7(p)&nbsp;on or before
the date on which such delivery of such Comfort Letter is required pursuant to Section&nbsp;7(p).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(i)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Representation
Certificate</U>. The Agent shall have received the certificate required to be delivered pursuant to Section&nbsp;7(m)&nbsp;on or before
the date on which delivery of such certificate is required pursuant to Section&nbsp;7(m).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(j)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Secretary&rsquo;s
Certificate</U>. On or prior to the First Placement Notice Date, the Agent shall have received a certificate, signed on behalf of the
Company by the Secretary of the Company and attested to by an executive officer of the Company, dated as of such date and in form and
substance satisfactory to the Agent and its counsel, certifying as to (i)&nbsp;the amended and restated certificate of incorporation of
the Company, (ii)&nbsp;the amended and restated bylaws of the Company, (iii)&nbsp;the resolutions of the board of directors of the Company
or duly authorized committee thereof authorizing the execution, delivery and performance of this Agreement and the issuance and sale of
the Placement Shares and (iv)&nbsp;the incumbency of the officers of the Company duly authorized to execute this Agreement and the other
documents contemplated by this Agreement (including each of the officers set forth on <B><U>Schedule 2</U></B>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(k)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>No
Suspension</U>. The Common Stock shall be duly listed, and admitted and authorized for trading, subject to official notice of issuance,
on Nasdaq. Trading in the Common Stock shall not have been suspended on, and the Common Stock shall not have been delisted from, Nasdaq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(l)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Other
Materials</U>. On each date on which the Company is required to deliver a certificate pursuant to Section&nbsp;7(m), the Company shall
have furnished to the Agent such appropriate further information, opinions, certificates, letters and other documents as the Agent may
have reasonably requested. All such information, opinions, certificates, letters and other documents shall have been in compliance with
the provisions hereof. The Company shall have furnished the Agent with conformed copies of such opinions, certificates, letters and other
documents as the Agent may have reasonably requested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(m)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Securities
Act Filings Made</U>. All filings with the Commission required by Rule&nbsp;424(b)&nbsp;or Rule&nbsp;433 under the Securities Act to have
been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for
such filing by Rule&nbsp;424(b)&nbsp;(without reliance on Rule&nbsp;424(b)(8)&nbsp;of the Securities Act) or Rule&nbsp;433, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(n)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Approval
for Listing</U>. Either (i)&nbsp;the Placement Shares shall have been approved for listing on Nasdaq, subject only to notice of issuance,
or (ii)&nbsp;the Company shall have filed an application for listing of the Placement Shares on Nasdaq at, or prior to, the First Placement
Notice Date and Nasdaq shall have reviewed such application and not provided any objections thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(o)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>FINRA</U>.
FINRA shall have raised no objection to the terms of the offering contemplated hereby and the amount of compensation allowable or payable
to the Agent as described in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(p)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>No
Termination Event</U>. There shall not have occurred any event that would permit the Agent to terminate this Agreement pursuant to Section&nbsp;11(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>9.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Indemnification
and Contribution</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Company
Indemnification</U>. The Company agrees to indemnify and hold harmless the Agent, its affiliates and their respective partners, members,
directors, officers, employees and agents, and each person, if any, who (i)&nbsp;controls the Agent within the meaning of Section&nbsp;15
of the Securities Act or Section&nbsp;20 of the Exchange Act or (ii)&nbsp;is controlled by or is under common control with the Agent,
in each case from and against any and all losses, claims, liabilities, expenses and damages (including any and all investigative, legal
and other expenses reasonably incurred in connection with, and any and all amounts paid in settlement (in accordance with this Section&nbsp;9),
any action, suit, investigation or proceeding between any of the indemnified parties and any indemnifying parties or between any indemnified
party and any third party (including any governmental or self-regulatory authority, or otherwise, or any claim asserted or threatened),
as and when incurred, to which the Agent, or any such other person may become subject under the Securities Act, the Exchange Act or other
federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, liabilities, expenses or damages
arise out of or are based, directly or indirectly, on (x)&nbsp;any untrue statement or alleged untrue statement of a material fact contained
in the Registration Statement or the Prospectus (or any amendment or supplement to the Registration Statement or the Prospectus) or in
any free writing prospectus or in any application or other document executed by or on behalf of the Company or based on written information
furnished by or on behalf of the Company filed in any jurisdiction in order to qualify the Common Stock under the securities laws thereof
or filed with the Commission, (y)&nbsp;the omission or alleged omission to state in any such document a material fact required to be stated
therein or necessary to make the statements therein (solely with respect to the Prospectus, in light of the circumstances under which
they were made) not misleading or (z)&nbsp;any breach by any of the indemnifying parties of any of their respective representations, warranties
or agreements contained in this Agreement; <I>provided</I>, <I>however</I>, that this indemnity agreement shall not apply to the extent
that such loss, claim, liability, expense or damage arises from the sale of the Placement Shares pursuant to this Agreement and is caused,
directly or indirectly, by an untrue statement or omission, or alleged untrue statement or omission, made in reliance upon and in conformity
with the Agent&rsquo;s Information. This indemnity agreement will be in addition to any liability that the Company might otherwise have.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Agent
Indemnification</U>. The Agent agrees to indemnify and hold harmless the Company and its directors and each officer of the Company who
signed the Registration Statement, and each person, if any, who (i)&nbsp;controls the Company within the meaning of Section&nbsp;15 of
the Securities Act or Section&nbsp;20 of the Exchange Act or (ii)&nbsp;is controlled by or is under common control with the Company against
any and all loss, liability, claim, damage and expense described in the indemnity contained in Section&nbsp;9(a), as incurred, but only
with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any
amendments thereto) or the Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with the Agent&rsquo;s
Information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(c)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Procedure</U>.
Any party that proposes to assert the right to be indemnified under this Section&nbsp;9 will, promptly after receipt of notice of commencement
of any action against such party in respect of which a claim is to be made against an indemnifying party or parties under this Section&nbsp;9,
notify each such indemnifying party of the commencement of such action, enclosing a copy of all papers served, but the omission so to
notify such indemnifying party will not relieve the indemnifying party from (i)&nbsp;any liability that it might have to any indemnified
party otherwise than under this Section&nbsp;9 and (ii)&nbsp;any liability that it may have to any indemnified party under the foregoing
provision of this Section&nbsp;9 unless, and only to the extent that, such omission results in the forfeiture of substantive rights or
defenses by the indemnifying party. If any such action is brought against any indemnified party and it notifies the indemnifying party
of its commencement, the indemnifying party will be entitled to participate in and, to the extent that it elects by delivering written
notice to the indemnified party promptly after receiving notice of the commencement of the action from the indemnified party, jointly
with any other indemnifying party similarly notified, to assume the defense of the action, with counsel reasonably satisfactory to the
indemnified party, and after notice from the indemnifying party to the indemnified party of its election to assume the defense, the indemnifying
party will not be liable to the indemnified party for any other legal expenses except as provided below and except for the reasonable
and documented costs of investigation subsequently incurred by the indemnified party in connection with the defense. The indemnified party
will have the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel will be at
the expense of such indemnified party unless (1)&nbsp;the employment of counsel by the indemnified party has been authorized in writing
by the indemnifying party, (2)&nbsp;the indemnified party has reasonably concluded (based on advice of counsel) that there may be legal
defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party,
(3)&nbsp;a conflict or potential conflict exists (based on advice of counsel to the indemnified party) between the indemnified party and
the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of
the indemnified party) or (4)&nbsp;the indemnifying party has not in fact employed counsel reasonably satisfactory to the indemnified
party to assume the defense of such action within a reasonable time after receiving notice of the commencement of the action, in each
of which cases the reasonable fees, disbursements and other charges of counsel will be at the expense of the indemnifying party or parties.
It is understood that the indemnifying party or parties shall not, in connection with any proceeding or related proceedings in the same
jurisdiction, be liable for the reasonable fees, disbursements and other charges of more than one separate firm (plus local counsel) admitted
to practice in such jurisdiction at any one time for all such indemnified party or parties. All such fees, disbursements and other charges
will be reimbursed by the indemnifying party promptly after the indemnifying party receives a written invoice relating to such fees, disbursements
and other charges in reasonable detail. An indemnifying party will not, in any event, be liable for any settlement of any action or claim
effected without its written consent. No indemnifying party shall, without the prior written consent of each indemnified party, settle
or compromise or consent to the entry of any judgment in any pending or threatened claim, action or proceeding relating to the matters
contemplated by this Section&nbsp;9 (whether or not any indemnified party is a party thereto), unless such settlement, compromise or consent
(1)&nbsp;includes an unconditional release of each indemnified party, in form and substance reasonably satisfactory to such indemnified
party, from all liability arising out of such claim, action or proceeding and (2)&nbsp;does not include a statement as to or an admission
of fault, culpability or a failure to act by or on behalf of any indemnified party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(d)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Settlement
Without Consent if Failure to Reimburse</U><I>. </I> If an indemnified party shall have requested an indemnifying party to reimburse the
indemnified party for reasonable fees and expenses of counsel for which it is entitled to be reimbursed under this Section&nbsp;9, such
indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by Section&nbsp;9(a)&nbsp;effected without
its written consent if (i)&nbsp;such settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid
request, (ii)&nbsp;such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement
being entered into and (iii)&nbsp;such indemnifying party shall not have reimbursed such indemnified party in accordance with such request
prior to the date of such settlement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(e)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Contribution</U>.
In order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing paragraphs
of this Section&nbsp;9 is applicable in accordance with its terms but for any reason is held to be unavailable or insufficient from the
Company or the Agent, the Company and the Agent will contribute to the total losses, claims, liabilities, expenses and damages (including
any investigative, legal and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action,
suit, investigation or proceeding or any claim asserted to which the Company and the Agent may be subject in such proportion as shall
be appropriate to reflect the relative benefits received by the Company on the one hand and the Agent on the other hand. The relative
benefits received by the Company on the one hand and the Agent on the other hand shall be deemed to be in the same proportion as the total
Net Proceeds from the sale of the Placement Shares (before deducting expenses) received by the Company bear to the total compensation
received by the Agent from the sale of Placement Shares on behalf of the Company. If, but only if, the allocation provided by the foregoing
sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect
not only the relative benefits referred to in the foregoing sentence but also the relative fault of the Company, on the one hand, and
the Agent, on the other hand, with respect to the statements or omission that resulted in such loss, claim, liability, expense or damage,
or action, suit, investigation or proceeding in respect thereof, as well as any other relevant equitable considerations with respect to
such offering. Such relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement
of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or the Agent,
the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or
omission. The Company and the Agent agree that it would not be just and equitable if contributions pursuant to this Section&nbsp;9(e)&nbsp;were
to be determined by <I>pro rata</I> allocation or by any other method of allocation that does not take into account the equitable considerations
referred to herein. The amount paid or payable by an indemnified party as a result of the loss, claim, liability, expense or damage, or
action, suit, investigation or proceeding in respect thereof, referred to above in this Section&nbsp;9(e)&nbsp;shall be deemed to include,
for the purpose of this Section&nbsp;9(e), any legal or other expenses reasonably incurred by such indemnified party in connection with
investigating or defending any such action, suit, investigation, proceeding or claim to the extent consistent with this Section&nbsp;9.
Notwithstanding the foregoing provisions of this Section&nbsp;9(e), the Agent shall not be required to contribute any amount in excess
of the commissions received by it under this Agreement and no person found guilty of fraudulent misrepresentation (within the meaning
of Section&nbsp;11(f)&nbsp;of the Securities Act) will be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section&nbsp;9(e), any person who controls a party to this Agreement within the meaning of Section&nbsp;15
of the Securities Act or Section&nbsp;20 of the Exchange Act, any affiliates of the Agent, any partners, members, directors, officers,
employees and agents of the Agent and each person that is controlled by or under common control with the Agent will have the same rights
to contribution as that party, and each officer and director of the Company who signed the Registration Statement will have the same rights
to contribution as the Company, subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt
of notice of commencement of any action against such party in respect of which a claim for contribution may be made under this Section&nbsp;9(e),
will notify any such party or parties from whom contribution may be sought, but the omission to so notify will not relieve that party
or parties from whom contribution may be sought from any other obligation it or they may have under this Section&nbsp;9(e)&nbsp;except
to the extent that the failure to so notify such other party materially prejudiced the substantive rights or defenses of the party from
whom contribution is sought. Except for a settlement entered into pursuant to the last sentence of Section&nbsp;9(c)&nbsp;hereof or pursuant
to Section&nbsp;9(d)&nbsp;hereof, no party will be liable for contribution with respect to any action or claim settled without its written
consent if such consent is required pursuant to Section&nbsp;9(c)&nbsp;hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>10.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Representations
and Agreements to Survive Delivery</U>. The indemnity and contribution agreements contained in Section&nbsp;9 of this Agreement and all
representations and warranties of the Company herein or in certificates delivered pursuant hereto shall survive, as of their respective
dates, regardless of (i)&nbsp;any investigation made by or on behalf of the Agent, any controlling persons, or the Company (or any of
their respective officers, directors, employees or controlling persons), (ii)&nbsp;delivery and acceptance of the Placement Shares and
payment therefor or (iii)&nbsp;any termination of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>11.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Termination</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The
Agent shall have the right, by giving notice as hereinafter specified, at any time to terminate this Agreement if (i)&nbsp;any Material
Adverse Effect, or any development that could reasonably be expected to result in a Material Adverse Effect, has occurred that, in the
reasonable judgment of the Agent, may materially impair the ability of the Agent to sell the Placement Shares hereunder, (ii)&nbsp;the
Company shall have failed, refused or been unable to perform any agreement on its part to be performed hereunder; <I>provided</I>, <I>however</I>,
in the case of any failure of the Company to deliver (or cause another person to deliver) any certification, opinion or letter required
under Section&nbsp;7(m), Section&nbsp;7(n), Section&nbsp;7(o)&nbsp;or Section&nbsp;7(p), the Agent&rsquo;s right to terminate shall not
arise unless such failure to deliver (or cause to be delivered) continues for more than 15 calendar days from the date such delivery was
required, (iii)&nbsp;any other condition of the Agent&rsquo;s obligations hereunder is not fulfilled, (iv)&nbsp;any suspension or limitation
of trading in the Placement Shares or in securities generally on Nasdaq shall have occurred, (v)&nbsp;a general banking moratorium shall
have been declared by any of United States federal or New York authorities, or (vi)&nbsp;there shall have occurred any outbreak or escalation
of national or international hostilities or any crisis or calamity, or any change in the United States or international financial markets,
or any substantial change or development involving a prospective substantial change in United States or international political, financial
or economic conditions that, in the reasonable judgment of the Agent, may materially impair the ability of the Agent to sell the Placement
Shares hereunder or to enforce contracts for the sale of securities. Any such termination shall be without liability of any party to any
other party except that the provisions of Section&nbsp;7(g), Section&nbsp;9, Section&nbsp;10, Section&nbsp;16 and Section&nbsp;17 hereof
shall remain in full force and effect notwithstanding such termination. If the Agent elects to terminate this Agreement as provided in
this Section&nbsp;11(a), the Agent shall provide the required notice as specified in Section&nbsp;12.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The
Company shall have the right, by giving 10 days&rsquo; prior notice as hereinafter specified, to terminate this Agreement in its sole
discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party
except that the provisions of Section&nbsp;7(g), Section&nbsp;9, Section&nbsp;10, Section&nbsp;11(f), Section&nbsp;16 and Section&nbsp;17
hereof shall remain in full force and effect notwithstanding such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(c)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The
Agent shall have the right, by giving 10 days&rsquo; prior notice as hereinafter specified, to terminate this Agreement in its sole discretion
at any time after the date of this Agreement. Any such termination shall be without liability of any party to any other party except that
the provisions of Section&nbsp;7(g), Section&nbsp;9, Section&nbsp;10, Section&nbsp;11(f), Section&nbsp;16 and Section&nbsp;17 hereof shall
remain in full force and effect notwithstanding such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(d)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Unless
earlier terminated pursuant to this Section&nbsp;11, this Agreement shall automatically terminate upon the issuance and sale of all of
the Placement Shares through the Agent on the terms and subject to the conditions set forth herein; <I>provided</I> that the provisions
of Section&nbsp;7(g), Section&nbsp;9, Section&nbsp;10, Section&nbsp;11(f), Section&nbsp;16 and Section&nbsp;17 hereof shall remain in
full force and effect notwithstanding such termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(e)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>This
Agreement shall remain in full force and effect unless terminated pursuant to Sections 11(a), (b), (c), or (d)&nbsp;above or otherwise
by mutual agreement of the parties; <I>provided</I>, <I>however</I>, that any such termination by mutual agreement shall in all cases
be deemed to provide that Section&nbsp;7(g), Section&nbsp;9, Section&nbsp;10, Section&nbsp;11(f), Section&nbsp;16 and Section&nbsp;17
shall remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(f)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Any
termination of this Agreement shall be effective on the date specified in such notice of termination; <I>provided, however</I>, that such
termination shall not be effective until the close of business on the date of receipt of such notice by the Agent or the Company, as the
case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Shares, such Placement Shares shall
settle in accordance with the provisions of this Agreement. Upon termination of this Agreement, the Company shall not be required to pay
to the Agent any discount or commission with respect to any Placement Shares not otherwise sold by the Agent under this Agreement; <I>provided</I>,
<I>however</I>, that the Company shall remain obligated to reimburse the Agent&rsquo;s expenses pursuant to Section&nbsp;7(g).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>12.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Notices</U>.
All notices or other communications required or permitted to be given by any party to any other party pursuant to the terms of this Agreement
shall be in writing, unless otherwise specified in this Agreement, and if sent to the Agent, shall be delivered to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Leerink Partners LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">1301 Avenue of the Americas, 5<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">New York, New York 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Attention: Peter M. Fry</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">E-mail: [***]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">with copies (which shall not constitute notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Leerink Partners LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">1301 Avenue of the Americas, 5<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">New York, New York 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Attention: Legal Department</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">E-mail:
</FONT>[***]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Cooley LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">55 Hudson Yards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">New York, New York 10001</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Attention: Daniel I. Goldberg</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">E-mail:
</FONT>[***]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">and if to the Company, shall be delivered to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Sagimet Biosciences Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">155 Bovet Road, Suite&nbsp;303</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">San Mateo, California 94402</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Attention: General Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">E-mail:
</FONT>[***]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">with copies (which shall not constitute notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Goodwin Procter LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">3025 John F. Kennedy Boulevard</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Philadelphia, Pennsylvania 19104</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Attention: Rachael Bushey and Jennifer Porter</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">E-mail:
</FONT>[***]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each party to this Agreement may change such address for notices by
sending to the parties to this Agreement written notice of a new address for such purpose. Each such notice or other communication shall
be deemed given (i)&nbsp;when delivered personally on or before 4:30 P.M., New York City time, on a Business Day, or, if such day is not
a Business Day, on the next succeeding Business Day, (ii)&nbsp;by Electronic Notice as set forth in the next paragraph, (iii)&nbsp;on
the next Business Day after timely delivery to a nationally-recognized overnight courier or (iv)&nbsp;on the Business Day actually received
if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For purposes of this Agreement,
 &ldquo;<B><U>Business Day</U></B>&rdquo; shall mean any day on which the Nasdaq and commercial banks in the City of New York are open
for business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">An electronic communication (&ldquo;<B><U>Electronic Notice</U></B>&rdquo;)
shall be deemed written notice for purposes of this Section&nbsp;12 if sent to the electronic mail address specified by the receiving
party in Section&nbsp;12. Electronic Notice shall be deemed received at the time the party sending Electronic Notice receives actual acknowledgment
of receipt from the person whom the notice is sent, other than via auto-reply. Any party receiving Electronic Notice may request and shall
be entitled to receive the notice on paper, in a nonelectronic form (&ldquo;<B><U>Nonelectronic Notice</U></B>&rdquo;), which shall be
sent to the requesting party within 10 days of receipt of the written request for Nonelectronic Notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Successors
and Assigns</U>. This Agreement shall inure to the benefit of and be binding upon the Company and the Agent and their respective successors
and the affiliates, controlling persons, officers, directors and other persons referred to in Section&nbsp;9 hereof. References to any
of the parties contained in this Agreement shall be deemed to include the successors and permitted assigns of each such party. Nothing
in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto, the persons referred to in
the preceding sentence and their respective successors and permitted assigns any rights, remedies, obligations or liabilities under or
by reason of this Agreement, except as expressly provided in this Agreement. Neither party may assign its rights or obligations under
this Agreement without the prior written consent of the other party; <I>provided, however</I>, that the Agent may assign its rights and
obligations hereunder to an affiliate of the Agent without obtaining the Company&rsquo;s consent, so long as such affiliate is a registered
broker-dealer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>14.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Adjustments
for Share Splits</U>. The parties acknowledge and agree that all share-related numbers contained in this Agreement shall be adjusted to
take into account any share split, share dividend or similar event effected with respect to the Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>15.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Entire
Agreement; Amendment; Severability; Waiver</U>. This Agreement (including all schedules (as amended pursuant to this Agreement) and exhibits
attached hereto and Placement Notices issued pursuant hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous
agreements and undertakings, both written and oral, among the parties hereto with regard to the subject matter hereof. Neither this Agreement
nor any term hereof may be amended except pursuant to a written instrument executed by the Company and the Agent; <I>provided</I>, <I>however</I>,
that <B><U>Schedule 2</U></B> of this Agreement may be amended by either party from time to time by sending a notice containing a revised
<B><U>Schedule 2</U></B> to the other party in the manner provided in Section&nbsp;12 and, upon such amendment, all references herein
to <B><U>Schedule 2</U></B> shall automatically be deemed to refer to such amended <B><U>Schedule 2</U></B>. In the event that any one
or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable
as written by a court of competent jurisdiction, then such provision shall be given full force and effect to the fullest possible extent
that it is valid, legal and enforceable, and the remainder of the terms and provisions herein shall be construed as if such invalid, illegal
or unenforceable term or provision was not contained herein, but only to the extent that giving effect to such provision and the remainder
of the terms and provisions hereof shall be in accordance with the intent of the parties as reflected in this Agreement. No implied waiver
by a party shall arise in the absence of a waiver in writing signed by such party. No failure or delay in exercising any right, power,
or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further
exercise thereof or the exercise of any right, power, or privilege hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>16.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>GOVERNING
LAW AND TIME; WAIVER OF JURY TRIAL</U>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS. SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. EACH PARTY HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING
OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>17.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Consent
to Jurisdiction</U>. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the
City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection with any of the transactions contemplated
hereby, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally
subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum, or that the venue
of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process
being served in any such suit, action or proceeding by mailing a copy (certified or registered mail, return receipt requested) to such
party at the address in effect for notices under Section&nbsp;12 of this Agreement and agrees that such service shall constitute good
and sufficient notice of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process
in any manner permitted by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>18.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Construction</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The
section and exhibit headings herein are for convenience only and shall not affect the construction hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Words
defined in the singular shall have a comparable meaning when used in the plural, and vice versa.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(c)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The
words &ldquo;hereof,&rdquo; &ldquo;hereto,&rdquo; &ldquo;herein&rdquo; and &ldquo;hereunder&rdquo; and words of similar import, when used
in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(d)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Wherever
the word &ldquo;include,&rdquo; &ldquo;includes&rdquo; or &ldquo;including&rdquo; is used in this Agreement, it shall be deemed to be
followed by the words &ldquo;without limitation.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(e)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>References
herein to any gender shall include each other gender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(f)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>References
herein to any law, statute, ordinance, code, regulation, rule&nbsp;or other requirement of any governmental authority shall be deemed
to refer to such law, statute, ordinance, code, regulation, rule&nbsp;or other requirement of any governmental authority as amended, reenacted,
supplemented or superseded in whole or in part and in effect from time to time and also to all rules&nbsp;and regulations promulgated
thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>19.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Permitted
Free Writing Prospectuses</U>. Each of the Company and the Agent represents, warrants and agrees that, unless it obtains the prior written
consent of the other party, which consent shall not be unreasonably withheld, conditioned or delayed, it has not made and will not make
any offer relating to the Placement Shares that would constitute an issuer free writing prospectus, or that would otherwise constitute
a free writing prospectus (as defined in Rule&nbsp;405), required to be filed with the Commission. Any such free writing prospectus consented
to by the Agent or by the Company, as the case may be, is hereinafter referred to as a &ldquo;<B><U>Permitted Free Writing Prospectus</U></B>.&rdquo;
The Company represents and warrants that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as an issuer
free writing prospectus, and that it has complied and will comply with the requirements of Rule&nbsp;433 applicable to any Permitted Free
Writing Prospectus, including timely filing with the Commission where required, legending and record keeping.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>20.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Absence
of Fiduciary Relationship</U>. The Company acknowledges and agrees that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(a)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>the
Agent has been retained to act as sales agent in connection with the sale of the Placement Shares, the Agent has acted at arms&rsquo;
length and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity
holders), creditors or employees or any other party, on the one hand, and the Agent, on the other hand, has been or will be created in
respect of any of the transactions contemplated by this Agreement, irrespective of whether the Agent has advised or is advising the Company
on other matters and the Agent has no duties or obligations to the Company with respect to the transactions contemplated by this Agreement
except the obligations expressly set forth herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(b)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>the
Company is capable of evaluating, and understanding and understands and accepts, the terms, risks and conditions of the transactions contemplated
by this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(c)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>neither
the Agent nor its affiliates have provided any legal, accounting, regulatory or tax advice with respect to the transactions contemplated
by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(d)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>the
Company has been advised and is aware that the Agent and its affiliates are engaged in a broad range of transactions which may involve
interests that differ from those of the Company and that the Agent and its affiliates have no obligation to disclose such interests and
transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(e)</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>the
Company waives, to the fullest extent permitted by law, any claims it may have against the Agent or its affiliates for breach of fiduciary
duty or alleged breach of fiduciary duty in connection with the transactions contemplated by this Agreement and agrees that the Agent
and its affiliates shall have no liability (whether direct or indirect) to the Company in respect of such a fiduciary claim or to any
person asserting a fiduciary duty claim on behalf of or in right of the Company, including stockholders (or other equity holders), creditors
or employees of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>21.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Recognition
of the U.S. Special Resolution Regimes</U>. In the event that the Agent is a Covered Entity and becomes subject to a proceeding under
a U.S. Special Resolution Regime, the transfer from the Agent of this Agreement, and any interest and obligation in or under this Agreement,
will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and
any such interest and obligation, were governed by the laws of the United States or a state of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event that the Agent is a Covered Entity
and the Agent or a BHC Act Affiliate of the Agent becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights
under this Agreement that may be exercised against the Agent are permitted to be exercised to no greater extent than such Default Rights
could be exercised under the U.S. Special Resolution Regime if this Agreement were governed by the laws of the United States or a state
of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For purposes of this Agreement, (A)&nbsp;&ldquo;BHC
Act Affiliate&rdquo; has the meaning assigned to the term &ldquo;affiliate&rdquo; in, and shall be interpreted in accordance with, 12
U.S.C. &sect; 1841(k); (B)&nbsp;&ldquo;Covered Entity&rdquo; means any of the following: (i)&nbsp;a &ldquo;covered entity&rdquo; as that
term is defined in, and interpreted in accordance with, 12 C.F.R. &sect; 252.82(b); (ii)&nbsp;a &ldquo;covered bank&rdquo; as that term
is defined in, and interpreted in accordance with, 12 C.F.R. &sect; 47.3(b); or (iii)&nbsp;a &ldquo;covered FSI&rdquo; as that term is
defined in, and interpreted in accordance with, 12 C.F.R. &sect; 382.2(b); (C)&nbsp;&ldquo;Default Right&rdquo; has the meaning assigned
to that term in, and shall be interpreted in accordance with, 12 C.F.R. &sect;&sect; 252.81, 47.2 or 382.1, as applicable; and (D)&nbsp;&ldquo;U.S.
Special Resolution Regime&rdquo; means each of (i)&nbsp;the Federal Deposit Insurance Act and the regulations promulgated thereunder and
(ii)&nbsp;Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>22.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Counterparts</U>.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile or electronic
transmission. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature covered by the U.S. federal
ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com)
or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and
effective for all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>23.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Use
of Information</U>. The Agent may not provide any information gained in connection with this Agreement and the transactions contemplated
by this Agreement, including due diligence, to any third party other than its legal counsel advising it on this Agreement and the transactions
contemplated by this Agreement unless expressly approved by the Company in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>24.</B></FONT><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><U>Agent&rsquo;s
Information</U>. As used in this Agreement, &ldquo;<B><U>Agent&rsquo;s Information</U></B>&rdquo; means solely the following information
in the Registration Statement and the Prospectus: the tenth paragraph under the heading &ldquo;Plan of Distribution&rdquo; in the Prospectus
Supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All references in this Agreement to the Registration
Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission
pursuant to EDGAR. All references in this Agreement to financial statements and schedules and other information that is &ldquo;contained,&rdquo;
 &ldquo;included&rdquo; or &ldquo;stated&rdquo; in the Registration Statement or the Prospectus (and all other references of like import)
shall be deemed to mean and include all such financial statements and schedules and other information that is incorporated by reference
in the Registration Statement or the Prospectus, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">All
references in this Agreement to &ldquo;supplements&rdquo; to the Prospectus shall include any supplements, &ldquo;wrappers&rdquo; or similar
materials prepared in connection with any offering, sale or private placement of any Placement Shares by </FONT>the Agent outside of the
United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>[Remainder of Page&nbsp;Intentionally Blank]</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the foregoing correctly sets forth the understanding between the Company and </FONT>the Agent, please so indicate in the space provided
below for that purpose, whereupon this letter shall constitute a binding agreement between the Company and the Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">SAGIMET BIOSCIENCES INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"><FONT STYLE="font-size: 10pt">/s/ David Happel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: David Happel</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: President and Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">ACCEPTED as of the date</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">first-above written:</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">LEERINK PARTNERS LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Peter Fry</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Name: Peter Fry</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title: Head of Alt Equities</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>6
<FILENAME>sgmt-20250814_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.2</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Aug. 14, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Aug. 14,  2025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-41742<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">SAGIMET BIOSCIENCES INC.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001400118<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">20-5991472<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">155 Bovet Road<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Suite&#160;303<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">San Mateo<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">CA<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">94402<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">650<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">561-8600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Series&#160;A Common Stock, $0.0001 par value per share<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">SGMT<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityExTransitionPeriod', window );">Elected Not To Use the Extended Transition Period</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityExTransitionPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 7A<br> -Section B<br> -Subsection 2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityExTransitionPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14a<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
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