<SEC-DOCUMENT>0001213900-17-007976.txt : 20170727
<SEC-HEADER>0001213900-17-007976.hdr.sgml : 20170727
<ACCEPTANCE-DATETIME>20170727162816
ACCESSION NUMBER:		0001213900-17-007976
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20170727
DATE AS OF CHANGE:		20170727

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Actinium Pharmaceuticals, Inc.
		CENTRAL INDEX KEY:			0001388320
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				880378336
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-194768
		FILM NUMBER:		17986641

	BUSINESS ADDRESS:	
		STREET 1:		275 MADISON AVENUE, 7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016
		BUSINESS PHONE:		646-677-3875

	MAIL ADDRESS:	
		STREET 1:		275 MADISON AVENUE, 7TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Cactus Ventures, Inc.
		DATE OF NAME CHANGE:	20070130
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B5
<SEQUENCE>1
<FILENAME>f424b5022717_actiniumphar.htm
<TEXT>
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<P CLASS="Textflush" ALIGN="center" STYLE=
'text-align: center; mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT STYLE=
"font-size: 7.5pt; color: #8B2537;">This preliminary prospectus
supplement and the accompanying prospectus relate to an effective
registration statement under the Securities Act of 1933, but the
information in this preliminary prospectus supplement is not
complete and may be changed. This preliminary prospectus supplement
and the accompanying prospectus are not an offer to sell the
securities and we are not soliciting an offer to buy these
securities in any jurisdiction where the offer or sale is not
permitted.</FONT></FONT></P>
<P CLASS="Textflush" ALIGN="right" STYLE=
'margin-top: 12.3pt; text-align: right; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Filed Pursuant to Rule
424(b)(5)<BR>
Registration No. 333-194768</FONT></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
'margin-top: 8.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT STYLE=
"color: #8B2537;">Subject to Completion, Dated July 27,
2017</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 8.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Preliminary Prospectus Supplement</P>
<P CLASS="Textflush" STYLE=
'margin-top: 0in; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(To Prospectus Dated April 17, 2014)</P>
<P CLASS="Textflush" ALIGN="center" STYLE=
'margin-top: 9.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT STYLE="font-size: 10.5pt;"><IMG WIDTH="433" HEIGHT="114" SRC="image001.jpg" ALT=""></FONT></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
'margin-top: 8.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT STYLE=
"font-size: 12.0pt;">&#8199;&#8199;&#8199;&#8199; Shares Common
Stock</FONT></FONT></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
'margin-top: 4.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT STYLE=
"font-size: 12.0pt;">Warrants to Purchase
&#8199;&#8199;&#8199;&#8199; Shares of Common
Stock</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 11.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT STYLE="letter-spacing: -.05pt;">We are offering
&#8199;&#8199;&#8199;&#8199; shares of our common stock and
warrants to purchase up to &#8199;&#8199;&#8199;&#8199; shares of
our common stock. Each share of our common stock is being sold
together with a warrant to purchase &#8199;&#8199;&#8199;&#8199; of
a share of our common stock. Each full warrant will have an
exercise price of $&#8199;&#8199;&#8199;&#8199; per share and will
be exercisable during the period commencing on July &#8199;&#8199;,
2017 and ending on
&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;.
The shares of our common stock and warrants are immediately
separable and will be issued separately, but will be purchased
together in this offering. The shares of our common stock issuable
from time to time upon exercise of the warrants are also being
offered pursuant to this prospectus supplement and the accompanying
prospectus.</FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 11.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT STYLE="letter-spacing: -.05pt;">Our common stock is presently
traded on the NYSE American under the symbol &ldquo;ATNM.&rdquo; On
July 26, 2017, the last reported sale price of our common stock was
$0.93 per share. There is no established trading market for the
warrants and we do not expect a market to develop. In addition, we
do not intend to apply for the listing of the warrants on any
national securities exchange or other trading market. Without an
active trading market, the liquidity of the warrants will be
limited.</FONT></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
'margin-top: 9.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; mso-style-name: Text_flush; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Investing in the common
stock involves risks. See &ldquo;Risk Factors&rdquo; beginning on
page S-13 of this prospectus supplement.</FONT></P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="15%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 15.74%; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG="EN-GB">Per
Share and Related Warrant</FONT></FONT><FONT LANG=
"EN-GB"></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="14%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 14.32%; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Total</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Public offering price</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
'margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$</P>
</TD>
<TD WIDTH="14%" VALIGN="bottom" STYLE=
"width: 14.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
'margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.12%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Underwriting discounts and
commissions(1)</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
'margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$</P>
</TD>
<TD WIDTH="14%" VALIGN="bottom" STYLE=
"width: 14.56%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
'margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.12%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="66%" VALIGN="bottom" STYLE=
"width: 66.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Proceeds, before expenses, to us</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
'margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$</P>
</TD>
<TD WIDTH="14%" VALIGN="bottom" STYLE=
"width: 14.56%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.6%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.2%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
'margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$</P>
</TD>
<TD WIDTH="13%" VALIGN="bottom" STYLE=
"width: 13.12%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Tablefootnotef" STYLE=
'margin-top: 0in; line-height: normal; border: none; mso-style-name: Tablefootnote_f; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -.25in; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
____________</P>
<P CLASS="Tablefootnotef" STYLE=
'margin-top: 0in; line-height: normal; border: none; mso-style-name: Tablefootnote_f; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -.25in; text-autospace: none; padding: 0in; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(1) We have agreed to reimburse the
underwriters for certain expenses. See
&ldquo;Underwriting.&rdquo;</P>
<P CLASS="Textflush" STYLE=
'margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT STYLE="letter-spacing: -.05pt;">Neither the Securities and
Exchange Commission nor any state securities commission has
approved or disapproved of these securities or passed upon the
adequacy or accuracy of this prospectus. Any representation to the
contrary is a criminal offense.</FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The underwriters expect to deliver the shares and related warrants
against payment on or about July &#8199;&#8199;, 2017.</P>
<P CLASS="Textflush" ALIGN="center" STYLE=
'margin-top: 0in; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT STYLE=
"font-size: 12.0pt; letter-spacing: -.2pt;">___________________________</FONT></FONT></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
'margin-top: 8.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="italic" STYLE=
"mso-style-name: italic; font-style: italic;"><FONT STYLE=
"letter-spacing: -.15pt;">Sole Book-Running
Manager</FONT></FONT></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
'margin-top: 6.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT STYLE=
"font-size: 16.5pt;">Oppenheimer &amp; Co.</FONT></FONT></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
'margin-top: 6.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The date of this prospectus supplement is July &#8199;&#8199;,
2017</P>
<P CLASS="RRH" STYLE=
'margin: 0in; margin-bottom: .0001pt; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
<P CLASS="H1" STYLE=
'margin-bottom: 10.0pt; mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Table of Contents</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG="EN-GB"
STYLE="font-size: 10.0pt;">Pages</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="100%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 100.0%; border: none; border-bottom: solid windowtext 0pt; background: #CCEEFF; padding: 0in 35% 0in 35%;">
<P CLASS="Tbody" ALIGN="center" STYLE=
'text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0pt; text-indent: 0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black; border-bottom: solid windowtext 1.0pt;'>
<B><FONT LANG="EN-GB" STYLE=
'font-family: TimesNewRomanPSStd-Bold;'>Prospectus
Supplement</FONT></B></P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; border: none; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
About this Prospectus Supplement</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-1</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Prospectus Supplement Summary</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-2</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The Offering</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-11</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Risk Factors</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-13</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Special Note Regarding Forward-Looking
Statements</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-38</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Use of Proceeds</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-40</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Dilution</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-41</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Description of Securities we are
Offering</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-42</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Underwriting</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-44</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Notice to Investors</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-46</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Legal Matters</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-48</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Experts</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-48</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Where You Can Find More Information</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-48</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Incorporation of Certain Information by
Reference</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-49</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="100%" COLSPAN="3" VALIGN="bottom" STYLE=
"width: 100.0%; border: none; border-bottom: solid windowtext 0pt; background: white; padding: 0in 40% 0in 40%;">
<P CLASS="Tbody" ALIGN="center" STYLE=
'text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0pt; text-indent: 0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black; border-bottom: solid windowtext 1.0pt;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Prospectus</FONT></FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; border: none; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
About this Prospectus</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
1</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Prospectus Summary</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
2</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Risk Factors</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
7</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Special Note Regarding Forward-Looking
Statements</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
8</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Use of Proceeds</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
9</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Description of Capital Stock</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
10</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Description of Debt Securities</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
19</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Description of Warrants</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
26</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Description of Rights</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
28</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Description of Purchase Contracts</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.76%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
"width: 7.88%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
29</P>
</TD>
</TR>
<TR>
<TD WIDTH="90%" VALIGN="bottom" STYLE=
"width: 90.38%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
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Description of Units</P>
</TD>
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<FONT STYLE=
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&nbsp;</FONT></P>
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30</P>
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Plan of Distribution</P>
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<FONT STYLE=
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&nbsp;</FONT></P>
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<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
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31</P>
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<P CLASS="Tbody" STYLE=
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Legal Matters</P>
</TD>
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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&nbsp;</FONT></P>
</TD>
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<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
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33</P>
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<P CLASS="Tbody" STYLE=
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Experts</P>
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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&nbsp;</FONT></P>
</TD>
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<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
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33</P>
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<P CLASS="Tbody" STYLE=
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Where You Can Find More Information</P>
</TD>
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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&nbsp;</FONT></P>
</TD>
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<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
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33</P>
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<P CLASS="Tbody" STYLE=
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<FONT LANG="EN-GB">Incorporation of Certain Information by
Reference</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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&nbsp;</FONT></P>
</TD>
<TD WIDTH="7%" VALIGN="bottom" STYLE=
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<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
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34</P>
</TD>
</TR>
</TABLE>
<P CLASS="LRH" STYLE=
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S-i</P>
<P CLASS="H1" STYLE=
'mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
About this Prospectus Supplement</P>
<P CLASS="Textflush" STYLE=
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This prospectus supplement and the accompanying prospectus form a
part of a registration statement on Form S-3 that we filed with the
Securities and Exchange Commission utilizing a &ldquo;shelf&rdquo;
registration process. This document is in two parts. The first part
is the prospectus supplement, which describes the specific terms of
this offering. The second part, the accompanying prospectus,
provides more general information about the securities we may offer
from time to time, some of which may not apply to the securities
offered by this prospectus supplement. Generally, when we refer to
this prospectus, we are referring to both parts of this document
combined. Before you invest, you should carefully read this
prospectus supplement, the accompanying prospectus, all information
incorporated by reference herein and therein, and the additional
information described under &ldquo;Where You Can Find More
Information&rdquo; on page S-48 of this prospectus supplement.
These documents contain information you should consider when making
your investment decision. This prospectus supplement may add,
update or change information contained in the accompanying
prospectus. To the extent that any statement that we make in this
prospectus supplement is inconsistent with statements made in the
accompanying prospectus or any documents incorporated by reference
therein, the statements made in this prospectus supplement will be
deemed to modify or supersede those made in the accompanying
prospectus and such documents incorporated by reference
therein.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Neither we nor the underwriters have authorized any other person to
provide you with any information that is different. We are offering
to sell, and seeking offers to buy, our securities only in
jurisdictions where offers and sales are permitted. The
distribution of this prospectus supplement and the accompanying
prospectus and the offering of the securities in certain
jurisdictions may be restricted by law. Persons outside the United
States who come into possession of this prospectus supplement
and/or the accompanying prospectus must inform themselves about,
and observe any restrictions relating to, the offering of the
securities and the distribution of this prospectus supplement
and/or the accompanying prospectus outside the United States. This
prospectus supplement and the accompanying prospectus do not
constitute, and may not be used in connection with, an offer to
sell, or a solicitation of an offer to buy, any securities offered
by this prospectus supplement and the accompanying prospectus by
any person in any jurisdiction in which it is unlawful for such
person to make such an offer or solicitation.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We further note that the representations, warranties and covenants
made by us in any agreement that is filed as an exhibit to any
document that is incorporated by reference in the accompanying
prospectus were made solely for the benefit of the parties to such
agreement, including, in some cases, for the purpose of allocating
risk among the parties to such agreements, and should not be deemed
to be a representation, warranty or covenant to you. Moreover, such
representations, warranties or covenants were accurate only as of
the date when made. Accordingly, such representations, warranties
and covenants should not be relied on as accurately representing
the current state of our affairs.</P>
<P CLASS="Textflush" STYLE=
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Unless the context otherwise requires, references in this
prospectus supplement to &ldquo;we&rdquo;, &ldquo;us&rdquo; and
&ldquo;our&rdquo; refer to Actinium Pharmaceuticals, Inc.</P>
<P CLASS="RRH" STYLE=
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S-1</P>
<DIV STYLE=
"border: solid windowtext 1.0pt; padding: 10.0pt 4.0pt 10.0pt 4.0pt;">
<P CLASS="SumBoxH1" STYLE=
'mso-style-name: Sum_Box_H1; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; text-transform: uppercase; font-weight: bold;'>
<FONT STYLE="text-transform: none;">Prospectus Supplement
Summary</FONT></P>
<P CLASS="Textflush" STYLE=
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This summary highlights selected information about our company,
this offering and information appearing elsewhere in this
prospectus supplement, in the accompanying prospectus, in the
documents we incorporate by reference and in any free writing
prospectus that we have authorized for use in connection with this
offering. This summary is not complete and does not contain all the
information that you should consider before investing in our
securities. You should read this entire prospectus supplement and
the accompanying prospectus carefully, including the &ldquo;Risk
Factors&rdquo; contained in this prospectus supplement, the
accompanying prospectus and the financial statements and the notes
thereto incorporated by reference in this prospectus supplement and
the accompanying prospectus and any free writing prospectus that we
have authorized for use in connection with this offering, before
making an investment decision. This prospectus supplement may add
to, update or change information in the accompanying
prospectus.</P>
<P CLASS="H2" ALIGN="center" STYLE=
'text-align: center; mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Business
Overview</FONT></P>
<P CLASS="Textflush" STYLE=
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Actinium is a biopharmaceutical company developing innovative
targeted therapies for patients with cancers lacking effective
treatment options. Actinium&rsquo;s proprietary platform utilizes
monoclonal antibodies to deliver cytotoxic radioisotopes directly
to cells of interest, such as cancer cells or cells of the bone
marrow, in order to kill those cells safely and effectively. Our
lead product candidate, Iomab-B, consists of the radioisotope
Iodine 131 (<FONT CLASS="superscript" STYLE=
"font-size: 6pt !important; mso-style-name: superscript; vertical-align: super;">131</FONT>
I) coupled to BC8, an anti-CD45 monoclonal antibody. Iomab-B is
designed to be used, upon approval, in preparing patients for a
hematopoietic stem cell transplant (&ldquo;HSCT&rdquo;), commonly
referred to as bone marrow transplant (&ldquo;BMT&rdquo;). A bone
marrow transplant is often the only potential cure for patients
with blood-borne cancers but the current standard preparation for a
transplant requires chemotherapy and/or total body irradiation that
result in significant toxicities. We are currently conducting a
single pivotal 150-patient, multicenter Phase 3 clinical study of
Iomab-B in patients with relapsed or refractory acute myeloid
leukemia (&ldquo;AML&rdquo;) age 55 and older. Our second product
candidate, Actimab-A, consists of the radioisotope actinium-225
(<FONT CLASS="superscript" STYLE=
"font-size: 6pt !important; mso-style-name: superscript; vertical-align: super;">225</FONT>Ac)
conjugated to HuM1-195, an anti-CD33 monoclonal antibody. Actimab-A
is currently in a multicenter open-label, 53-patient Phase 2 trial
for patients newly diagnosed with AML age 60 and over. In addition,
we are studying Actimab-M, which also consists of <FONT CLASS=
"superscript" STYLE=
"font-size: 6pt !important; mso-style-name: superscript; vertical-align: super;">
225</FONT>Ac conjugated to HuM195, an anti-CD33 monoclonal
antibody, in a Phase 1 investigator initiated clinical trial in
patients with relapsed or refractory multiple myeloma. We are also
utilizing its alpha-particle immunotherapy (&ldquo;APIT&rdquo;)
technology platform to generate new drug candidates based on
antibodies linked to the element Actinium-225 that are directed at
various cancers that are blood-borne or form solid tumors. We are
also considering filing an application with the U.S. Food and Drug
Administration (&ldquo;FDA&rdquo;) for breakthrough therapy
designation for Actimab-A and/or Iomab-B. We intend to develop a
number of products for different types of cancer and derive revenue
from partnering relationships with large pharmaceutical companies
and/or direct sales of its products in specialty markets in the
United States. We are currently manufacturing the antibody HuM195,
which is a component of our Actimab-A and Actimab-M drug candidates
that are currently in a Phase 2 and Phase 1 clinical trial,
respectively. If we are unable to manufacture the HuM195 antibody
in a timely fashion we may encounter delays in our clinical trials,
which may impact our competitive position with these drug
candidates.</P>
<P CLASS="Textflush" STYLE=
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In December 2015, we announced that the FDA cleared our
Investigational New Drug Application (&ldquo;IND&rdquo;) filing for
Iomab-B, and that it will proceed with a pivotal, Phase 3 clinical
trial. In June 2016, we announced the pivotal Phase 3 clinical
trial for Iomab-B was initiated and assuming that the trial meets
its end points, it will form the basis for a Biologics Licensing
Application (&ldquo;BLA&rdquo;) with the FDA. In our recently
approved IND filing, we established an agreement with the FDA that
the path to a Biologics License Application submission would
include a single, pivotal Phase 3 clinical study if it is
successful. The population in this two arm, randomized, controlled,
multicenter trial will be refractory and relapsed AML patients over
the age of 55. The trial size was set at 150 patients with 75
patients per arm. The primary endpoint in the pivotal Phase 3 trial
is durable complete remission, defined as a complete remission
lasting at least 6 months and a secondary endpoint that will be
overall survival at one year. There are currently no effective
treatments approved by the FDA for AML in this patient population
and there is no defined standard of care. Iomab-B has completed</P>
</DIV>
<P CLASS="LRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-2</P>
<DIV STYLE=
"border: solid windowtext 1.0pt; padding: 10.0pt 4.0pt 10.0pt 4.0pt;">
<P CLASS="Textflush" STYLE=
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several physicians sponsored clinical trials examining its
potential as a conditioning regimen prior to HSCT in various blood
cancers, including the Phase 1/2 study in relapsed and/or
refractory AML patients. The results of these studies in almost 300
patients have demonstrated the potential for Iomab-B to create a
new treatment paradigm for bone marrow transplants by: expanding
the pool to ineligible patients who do not have any viable
treatment options currently; enabling a shorter and safer
preparatory interval for HSCT; reducing post-transplant
complications; and showing a clear survival benefit including
curative potential.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
In September 2016, we announced that we initiated a Phase 2
clinical trial for Actimab-A. This Phase 2 clinical trial is a
multicenter, open-label study that will enroll 53 patients.
Patients will receive 2.0 &micro;Ci/kg/fractionated dose of
Actimab-A via two injections given at day 1 and day 7. The Phase 2
trial is designed to evaluate complete response rates at up to day
42 after Actimab-A administration, where complete response is
defined as complete remission (&ldquo;CR&rdquo;) or complete
remission with incomplete platelet recovery (CRp). The Phase 2
trial will include peripheral blast burden as an inclusion criteria
and in patients with high peripheral blast (&ldquo;PB&rdquo;)
burden, the use of Hydroxyurea will be mandated with the goal of
bringing PB burden below a key threshold number that we have
identified from two previously complete Phase 1 clinical trials
totaling 38 patients. In addition, the use of granulocyte
colony-stimulating factors (&ldquo;GCSF&rdquo;) will be mandated.
Low dose cytarabine has been eliminated from the protocol and the
Phase 2 clinical trial will evaluate Actimab-A as a monotherapy.
The secondary endpoint of the Phase 2 trial will be overall
survival.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT STYLE="letter-spacing: -.05pt;">In February 2017, we
initiated a Phase 1 investigator initiated clinical trial to study
Actimab-M in multiple myeloma (&ldquo;MM&rdquo;). Multiple myeloma
is a cancer of plasma cells that is currently incurable. The Phase
1 trial will enroll up to 12 patients with relapsed or refractory
multiple myeloma who have positive CD33 expression. This Phase 1
study is designed as a dose escalation study intended to assess
safety, establish maximum tolerable dose (&ldquo;MTD&rdquo;) and
assess efficacy. Patients will be administered Actimab-M on day 1
at an initial dose of 0.5 &micro;Ci/kg and then assessed at day 42
for safety and efficacy. The dose can be increased to 1.0
&micro;Ci/kg or reduced to 0.25 &micro;Ci/kg based on safety
assessment that will evaluate dose limiting toxicities
(&ldquo;DLTs&rdquo;). Patients may receive up to 8 cycles of
therapy but in no event will cumulative administration exceed 4.0
&micro;Ci/kg of Actimab-M.</FONT></P>
<P CLASS="H2" STYLE=
'mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Plan of
Operation</FONT></P>
<P CLASS="Textflush" STYLE=
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We develop drugs for the treatment of cancer with the intent to
cure or significantly improve survival of the affected patients.
None of our drugs have been approved for sale in the United States
or elsewhere. We have no commercial operations in sales or
marketing of our products. All our product candidates are under
development. In order to market and sell our products we must
conduct clinical trials on patients and obtain regulatory approvals
from appropriate regulatory agencies like the FDA in the United
States and similar agencies elsewhere in the world.</P>
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Our products under development are monoclonal antibodies labeled
with radioisotopes. We have one program with an antibody labeled
with a beta emitter and several programs based on a proprietary
patent protected platform technology called APIT. Our APIT
technology is based on attaching actinium 225 (Ac-225) or bismuth
213 (Bi-213) alpha emitting radioisotopes to monoclonal antibodies.
Alpha emitting radioisotopes are unstable chemical elements that
decay by releasing alpha particles. Alpha particles can kill any
cell in the immediate proximity of where they are released.
Monoclonal antibodies are genetically engineered proteins that
specifically target certain cells, including cancer cells. It is
crucial for the success of our drug candidates to contain
monoclonal antibodies that can successfully seek cancer cells and
can kill them with the attached isotope while not harming nearby
normal cells. We do not have technology and operational
capabilities to develop and manufacture such monoclonal antibodies
and we therefore rely on collaboration with third parties to gain
access to such monoclonal antibodies. We have secured rights to two
monoclonal antibodies, HuM195 (Lintuzumab), in 2003 through a
collaborative licensing agreement with AbbVie Biotherapeutics Corp
and BC8 in 2012 with the Fred Hutchinson Cancer Research Center
(&ldquo;FHCRC&rdquo;). We expect to negotiate collaborative
agreements with other potential partners that would provide us with
access to additional monoclonal antibodies. Establishing and
maintaining such collaborative agreements is a key to our success
as a company.</P>
</DIV>
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S-3</P>
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Under our own sponsorship as well as activity at FHCRC, we have
five product candidates in active clinical trials: Actimab-A and
Actimab-M (HuM195-Ac-225), Iomab-B (BC8-I-131), BC8-Y-90 and
BC8-SA. At this time, we are actively pursuing development of
Actimab-A and Iomab-B while Actimab-M, BC8-Y-90 and BC8-SA are in
physician sponsored clinical phase 1 trials at Baylor and latter
two at the FHCRC. Actimab-A is a combination of the monoclonal
antibody we have in-licensed, Lintuzumab (HuM195), and the alpha
emitting isotope actinium 225. We believe Actimab-A has shown
promising results throughout preclinical development and an ongoing
clinical trial started in 2006 in AML in the elderly. We have
expanded the number of patients and number of clinical centers by
commencing a new AML clinical trial which we launched in 2012. This
trial targets newly diagnosed AML patients over the age of 60. In
order to conduct the trial we are engaged in funding, monitoring
and quality assurance and control of the Lintuzumab antibody;
procurement of the actinium 225 isotope; funding, monitoring and
quality assurance and control of the drug candidate Actimab-A and
manufacturing and organizing and monitoring clinical trials. We
estimate that the direct costs to completion of both parts of the
ongoing Phase 1/2 trial will be approximately $7 million. Iomab-B
is a combination of the in-licensed monoclonal antibody BC8 and the
beta emitting radioisotope iodine 131. This construct has been
extensively tested in Phase 1 and Phase 2 clinical trials in
approximately 300 patients with different blood cancer indications
who were in need of HSCT. Iomab-B is used to condition the bone
marrow of these patients by destroying blood cancer cells in their
bone marrow and elsewhere thus allowing for a subsequent transplant
containing healthy donor bone marrow stem cells. We have decided to
develop this drug candidate by initially focusing on the patients
over 55 with active acute myeloid leukemia in relapse and/or
refractory to existing treatments. On December 17, 2015, the FDA
cleared our IND filing for Iomab-B, and that we are proceeding with
the pivotal, Phase 3 clinical trial. We anticipate that the Phase
3, controlled, randomized, pivotal trial will continue enrolling
patients in 2017. We estimate the direct costs of such a trial to
completion anticipated in 2019 will be approximately $25
million.</P>
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We have primarily management position employees and consultants who
direct, organize and monitor the activities described above through
contractors. Much of our contracted in-vivo laboratory and clinical
work was conducted at MSKCC in New York. We also made clinical
trial arrangements with other well-known cancer centers. Our
Actimab-A and Actimab-M drug candidates and its components are
contract manufactured and maintained under our supervision by
specialized contract manufacturers and suppliers in the United
States, including IsoTex Diagnostics, Oak Ridge National
Laboratory, Pacific GMP, Fisher BioServices, BioReliance and
others.</P>
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We have never generated revenue. Currently, we do not have a
recurring source of revenues to cover our operating costs. For the
three months ended March 31, 2017 and 2016, we incurred a net loss
of approximately $8.1 million and $4.4 million, respectively, and
for the years ended December 31, 2016 and 2015, we incurred a net
loss of approximately $24.3 million and $21.0 million,
respectively. We believe that we have sufficient cash on hand to
fund our operations through the next 12 months.</P>
<P CLASS="H2" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Opportunities,
Challenges and Risks</FONT></P>
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The market for drugs for cancer treatment is a large market in need
of novel products, in which successful products can command
multibillion dollars in annual sales. A number of large
pharmaceutical and biotechnology companies regularly acquire
products in development, with preference given to products in Phase
2 or later clinical trials. These transactions are typically
structured to include an upfront payment that ranges from several
million dollars to tens of million dollars or more and additional
milestone payments tied to regulatory submissions and approvals and
sales milestones. Our goal is to develop our product candidates
through Phase 2 clinical trials and enter into partnership
agreements with one or more large pharmaceutical and/or
biotechnology companies.</P>
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We believe our future success will be heavily dependent upon our
ability to successfully conduct clinical trials and the preclinical
development of our drug candidates. This will in turn depend on our
ability to continue our collaboration with MSKCC and our Clinical
Advisory Board members. In addition, we plan to continue</P>
</DIV>
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S-4</P>
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and expand other research and clinical trial collaborations.
Moreover, we will have to maintain sufficient supply of actinium
225 and successfully maintain, and if and when needed, replenish or
obtain our reserves of monoclonal antibodies. We will have to
maintain and improve manufacturing procedures we have developed for
production of our drug candidates from the components that include
the iodine 131 and actinium 225 isotopes, monoclonal antibodies and
other materials. It is possible that despite our best efforts our
clinical trials results may not meet regulatory requirements for
approval. If our efforts are successful, we will be able to partner
our development stage products on commercially favorable terms only
if they enjoy appropriate patent coverage and/or considerable
know-how and other protection that ensures market exclusivity. For
that reason, we intend to continue our efforts to maintain our
existing and generate new intellectual property. Intellectual
property is a key factor in the success of our business as well as
market exclusivity.</P>
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To achieve our goal, we intend to continue to invest in research
and development until one or more of our products are sufficiently
developed to partner them with a large pharmaceutical and/or
biotechnology company. Research and development costs are high, and
we expect them to continue to increase, which will result in
further losses to us as we continue our product development.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bolditalic" STYLE=
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<FONT STYLE="font-style: normal;">Business
Strategy</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
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We intend to potentially develop our most advanced clinical stage
product candidates through approval in the case of Iomab-B, and up
to and including a Phase 2 proof of concept human clinical trial (a
trial designed to provide data on the drug&rsquo;s efficacy) in the
case of Actimab-A and Actimab-M. If these efforts are successful,
we may elect to commercialize Iomab-B on our own or with a partner
in the United States and/or outside of the United States to
out-license the rights to develop and commercialize the product to
a strategic partner. In the case of Actimab-A, we will most likely
seek to enter into strategic partnerships whereby the strategic
partner(s) co-fund(s) further human clinical trials of the drug
that are needed to obtain regulatory approvals for commercial sale
within and outside of the United States. In parallel, we intend to
identify and begin initial human trials with additional actinium
225 product candidates in other cancer indications. We intend to
retain marketing rights for our products in the United States
whenever possible and out-license marketing rights to our partners
for the rest of the world. We may also seek to in license other
applicable opportunities should such technology become
available.</P>
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<FONT CLASS="bolditalic" STYLE=
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<FONT STYLE="font-style: normal;">Market
Opportunity</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
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We compete in the marketplace for cancer treatments estimated to
reach over $83 billion in 2016 sales, according to &ldquo;The
Global Use of Medicines: Outlook Through 2016 Report by the IMS
Institute for Healthcare Informatics, July 2012.&rdquo; While
surgery, radiation and chemotherapy remain staple treatments for
cancer, their use is limited by the fact that they often cause
substantial damage to normal cells. On the other hand, targeted
monoclonal antibody therapies exert most or all of their effect
directly on cancer cells, but often lack sufficient killing power
to eradicate all cancer cells with just the antibody. A new
approach for treating cancer is to combine the precision of
antibody-based targeting agents with the killing power of radiation
or chemotherapy by attaching powerful killing agents to precise
molecular carriers called monoclonal antibodies (mAb). We use mAbs
labeled with radioisotopes to deliver potent doses of radiation
directly to cancer cells while sparing healthy tissues. The
radioisotopes we use are the alpha emitter Ac-225 and the beta
emitter I-131. We believe I-131 is among the best known and well
characterized radioisotopes. It is used very successfully in
treatment of papillary and follicular thyroid cancer as well as
other thyroid conditions. It is also attached to a monoclonal
antibody in treatment of Non-Hodgkin&rsquo;s Lymphoma
(&ldquo;NHL&rdquo;). It is also used experimentally with different
carriers in other cancers. Ac-225 has many unique properties and we
believe we are a leader in developing this alpha emitter for
clinical applications using our proprietary APIT technology.</P>
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Our most advanced products are Iomab-B, I-131 labeled mAb for
preparation of relapsed and refractory AML patients for HSCT;
Actimab-A, Ac-225 labeled mAb for treatment of newly diagnosed AML,
a cancer of the blood, in patients ineligible for currently
approved therapies; and Actimab_M, Ac-225 labeled mAb for the</P>
</DIV>
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S-5</P>
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treatment of relapsed or refractory multiple myeloma. Iomab-B
offers a potentially curative treatment for these patients, most of
whom do not survive beyond a year after being diagnosed with this
condition. Iomab-B has also demonstrated efficacy in HSCT
preparation for other blood cancer indications, including
myelodysplastic syndrome (&ldquo;MDS&rdquo;), acute lymphoblastic
leukemia (&ldquo;ALL&rdquo;), Hodgkin&rsquo;s Lymphoma, and
Non-Hodgkin&rsquo;s Lymphoma (&ldquo;NHL&rdquo;). These are all
follow-on indications for which Iomab-B can be developed and it is
our intention to explore these opportunities at a future date. We
believe the aggregate worldwide market potential for the treatment
of AML, MDS, ALL, Hodgkin&rsquo;s Lymphoma, multiple myeloma and
NHL is approximately $6.6 billion. We estimate the market potential
for these indications based on company research, published rates of
disease incidence and company calculations based on costs of
currently used therapies.</P>
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In December 2015, we announced that the FDA cleared our IND filing
for Iomab-B, and that we will proceed with a pivotal, Phase 3
clinical trial. We anticipate the Phase 3 pivotal trial will
complete enrollment of patients by 2018. In our recently approved
IND filing, we established an agreement with the FDA that the path
to a BLA submission would include a single, pivotal Phase 3
clinical study if it is successful. If the Phase 3 pivotal trial
meets its endpoints, we expect that it will form the basis for a
BLA. The population in this two arm, randomized, controlled,
multicenter trial will be refractory and relapsed AML patients over
the age of 55. The trial size was set at 150 patients with 75
patients per arm. The primary endpoint in the pivotal Phase 3 trial
is durable complete remission, defined as a complete remission
lasting at least six months and the secondary endpoint will be
overall survival at one year. There are currently no effective
treatments approved by the FDA for AML in this patient population
and there is no defined standard of care. Iomab-B has completed
several physicians sponsored clinical trials examining its
potential as a conditioning regimen prior to HSCT in various blood
cancers, including the Phase 1/2 clinical trial in relapsed and/or
refractory AML patients. The results of these clinical trials in
over 300 patients have demonstrated the potential of Iomab-B to
create a new treatment paradigm for bone marrow transplants by:
expanding the pool to ineligible patients who do not have any
viable treatment options currently; enabling a shorter and safer
preparatory interval for HSCT; reducing post-transplant
complications; and showing a clear survival benefit including
curative potential.</P>
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Other potential product opportunities in which significant
preclinical work is being undertaken include metastatic colorectal
cancer, metastatic prostate cancer and antiangiogenesis which
reduces the blood supply to solid tumors. We believe the worldwide
market potential for the treatment of metastatic colorectal cancer
is approximately $4.8 billion, and we believe the worldwide market
potential for the treatment of metastatic prostate cancer is
approximately $6.0 billion. We also believe the worldwide market
potential for the treatment of Glioblastoma Multiforme, a potential
indication based on an antiangiogenesis approach, is approximately
$1.1 billion. We estimate the market potential for these
indications based on company research, published rates of disease
incidence and company calculations based on costs of currently used
therapies.</P>
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We believe that our biggest market opportunity lies in the
applicability of our APIT platform technology to a wide variety of
cancers. A broad range of solid and blood borne cancers can be
potentially targeted by mAbs to enable treatment with the APIT
technology. The APIT technology could potentially be applied to
mAbs that are already approved by the FDA to create more
efficacious and/or safer drugs (&ldquo;biobetters&rdquo;).</P>
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In March 2016, the FDA granted orphan drug designation for Ioamb-B
and in October 2016, the European Medicines Agency (EMA) granted
orphan designation in the European Union (EU) for Iomab-B. In
November 2014, the FDA granted orphan-drug designation for
Actimab-A and in December 2016, we submitted an application to the
EMA for orphan designation in the EU for Actimab-A, which was
granted in May 2017. The FDA, through its Office of Orphan Products
Development, grants orphan status to drugs and biologic products
that are intended for the safe and effective treatment, diagnosis,
or prevention of rare diseases or disorders that affect fewer than
200,000 people in the United States. Orphan drug designation
provides a drug developer with certain benefits and incentives,
including a period of marketing exclusivity if regulatory approval
is ultimately received for the designated indication; potential tax
credits on United States clinical trials; eligibility for orphan
drug grants; and waiver of certain administrative fees. The EMA,
through its Committee for Orphan Medicinal Products (COMP),
examines applications for orphan designation. To qualify for orphan
designation, the</P>
</DIV>
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S-6</P>
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prevalence of the condition must be less than 5 in 10,000, it must
be life threatening or chronically debilitating and there must be
no satisfactory method of treating the condition. Sponsors who
obtain orphan designation receive numerous incentives including
protocol assistance, a reduction or waving of fees and 10 years of
market exclusivity should the therapy be approved. The process of
filing and receiving the orphan medicines designation can take
between eight to fourteen months in most cases.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bolditalic" STYLE=
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<FONT STYLE="font-style: normal;">Clinical Trials</FONT></FONT></P>
<P CLASS="H4Ind" STYLE=
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Iomab-B</P>
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Iomab-B is our lead product candidate currently in a pivotal Phase
3 multicenter clinical trial. It consists of the monoclonal
antibody BC8 and beta emitting radioisotope iodine 131 (I-131). The
indication for that trial is bone marrow conditioning for HSCT in
patients with relapsed and refractory AML over the age of 55.</P>
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Previous Iomab-B clinical trials leading to the planned Phase 3
trial currently in preparation included:</P>
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Indications</FONT></FONT></P>
</DIV>
</TD>
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&nbsp;</FONT></P>
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"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">N</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="bottom" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG="EN-GB">Key
Findings</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
AML, MDS, ALL (adult)</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
34</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">&ndash;7/34 patients with median disease free
state (DFS) of 17 years.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">&ndash;18/34 patients in remission at day
80</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
AML &gt;1st remission (adult)</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
23</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&ndash;15/23 in remission at day 28</P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
AML 1st remission (age 16-50)</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
43</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&ndash;23/43 DFS from 5-16 years</P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&ndash;30/43 in remission at day 28</P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&ndash;33/43 in remission at day 80</P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">High-risk MDS, advanced AML<BR>
(age 50+)</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
68 in dose escalation study</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">&ndash;CR (complete remission) in all
patients</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
31 treated at MTD</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">&ndash;1 yr survival ~40% for all
patients</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">&ndash;1 yr survival ~45% for pts treated at MTD
maximum tolerated dose)</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
High-risk MDS, AML (age 18&ndash;50)</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
14 in dose escalation</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">All patients achieved full donor chimerism by
day 28 post-transplant</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">High-risk MDS, AML &ndash;haploidentical donors
(adult)</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
8 in dose escalation</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">&ndash;6/8 treated patients achieved CR by day
28<BR>
&ndash;8/8 patients 100% donor chimerism by day 28</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
'margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: Text_flush; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Ongoing Iomab-B clinical trials include:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="98%" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="535" VALIGN="bottom" STYLE=
"width: 401.4pt; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Indications</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Phase</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="535" VALIGN="bottom" STYLE=
"width: 401.4pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Relapsed and refractory Hodgkin Lymphoma and NHL
(adult)</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Phase 1</P>
</TD>
</TR>
<TR>
<TD WIDTH="535" VALIGN="bottom" STYLE=
"width: 401.4pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Advanced AML, ALL and MDS (adult)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Phase 2</P>
</TD>
</TR>
<TR>
<TD WIDTH="535" VALIGN="bottom" STYLE=
"width: 401.4pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
AML 1st remission (age 16-50)</P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Phase 2</P>
</TD>
</TR>
<TR>
<TD WIDTH="535" VALIGN="bottom" STYLE=
"width: 401.4pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">High-risk MDS, advanced AML (age
16-50)</FONT></P>
</TD>
<TD WIDTH="11" VALIGN="bottom" STYLE=
"width: 8.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="64" VALIGN="bottom" STYLE=
"width: 48.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Phase 2</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
'margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
There are additional ongoing clinical trials with BC8 antibody
labeled with yttrium 90 (Y-90).</P>
</DIV>
<P CLASS="RRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-7</P>
<DIV STYLE=
"border: solid windowtext 1.0pt; padding: 10.0pt 4.0pt 10.0pt 4.0pt;">
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Phase 3 Iomab-B clinical trial in preparation:</P>
<P CLASS="Textflush" STYLE=
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We have obtained FDA&rsquo;s comment and guidance on the Iomab-B
Phase 3 clinical trial design, and the FDA has identified the
following design features as generally acceptable, dependent on the
results of the trial:</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Single pivotal
study, pending trial results;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE="mso-style-name: bullet;"><FONT STYLE=
"letter-spacing: -.1pt;">&bull;</FONT></FONT><FONT CLASS="bullet"
STYLE="mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt; letter-spacing: -.1pt;">&nbsp;&nbsp;</FONT></FONT>
<FONT STYLE="letter-spacing: -.1pt;">Patient population: refractory
AML patients age of 55 and older, where refractory is defined as
either primary failure to achieve a complete remission after 2
cycles of induction therapy; relapsed after 6 months in complete
remission; second or higher relapse; or relapsed disease not
responding to intensive salvage therapy;</FONT></P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE="mso-style-name: bullet;"><FONT STYLE=
"letter-spacing: -.1pt;">&bull;</FONT></FONT><FONT CLASS="bullet"
STYLE="mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt; letter-spacing: -.1pt;">&nbsp;&nbsp;</FONT></FONT>
<FONT STYLE="letter-spacing: -.1pt;">Trial arms: study arm and
control arm with physician&rsquo;s choice of conventional care with
curative intent; and</FONT></P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Trial size: 150
patients total (75 patients per arm).</P>
<P CLASS="H4Ind" STYLE=
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Actimab-A</P>
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Actimab-A is currently in the Phase 2 portion of a multicenter
Phase 1/2 clinical trial in AML. It consists of the monoclonal
antibody Lintuzumab and alpha emitting radioisotope actinium 225
(Ac-225). The indication in the ongoing trial is newly diagnosed
AML patients over the age of 60.</P>
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Previous clinical trials leading to this trial included:</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Phase 1 clinical
trial with Bismab-A, the first generation product consisting of the
same monoclonal antibody Lintuzumab and Bi-213 alpha emitter, a
daughter of Ac-225;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Phase 1/2 clinical
trial with Bismab-A, the first generation product consisting of the
same monoclonal antibody Lintuzumab and Bi-213 alpha emitter, a
daughter of Ac-225; and</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Dose escalating
pilot Phase 1 clinical trial with Actimab&trade;-A, the current
product consisting of the Lintuzumab monoclonal antibody and Ac-225
alpha emitter.</P>
<P CLASS="Textflush" STYLE=
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Completed Actimab&trade;-A related clinical trials outcomes:</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> The Phase 2 arm of
the Bismab-A drug study has shown signs of the drug&rsquo;s
efficacy and safety, including reduction in peripheral blast counts
and complete responses in some patients. Bi-213 is a daughter,
i.e., product of the degradation of Ac-225, with cancer cell
killing properties similar to Ac-225 but is less potent. The Phase
1 Actimab&trade;-A trial at MSKCC with a single-dose administration
of Actimab&trade;-A showed elimination of leukemia cells from blood
in 67% of all evaluable patients who received a full dose and in
83% of those treated at dose levels above 0.5 microcuries per
kilogram (&micro;Ci/kg), and eradication of leukemia cells in both
blood and bone marrow in 20% of all evaluable patients and 25% of
those treated at dose levels above 0.5 &micro;Ci/kg. Maximum
tolerated single dose in this trial was established at 3
&micro;Ci/kg.</P>
<P CLASS="Textflush" STYLE=
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High potency means that a relatively low amount of drug is needed
to produce a given effect. In preclinical and Phase 1 clinical
studies, Actimab-A (<FONT CLASS="superscript" STYLE=
"font-size: 6pt !important; mso-style-name: superscript; vertical-align: super;">225</FONT>Ac-lintuzumab)
has demonstrated at least 500-1000 times higher potency than the
first-generation predecessor (<FONT CLASS="superscript" STYLE=
"font-size: 6pt !important; mso-style-name: superscript; vertical-align: super;">213</FONT>Bi-lintuzumab)
upon which it is based. This difference is due to intrinsic
physicochemical properties of Actimab-A that were first established
<FONT CLASS="italic" STYLE=
"mso-style-name: italic; font-style: italic;">in vitro</FONT>, in
which Actimab-A killed multiple cell lines at doses at least 1000
times lower (based on LD50 values) than Bismab-A analogs. Key
factors in Actimab-A&rsquo;s higher potency are the yield of 4
alpha-emitting isotopes per <FONT CLASS="superscript" STYLE=
"font-size: 6pt !important; mso-style-name: superscript; vertical-align: super;">
225</FONT>Ac (compared to 1 alpha decay for bismuth 213) and much
longer half-life (10 day for <FONT CLASS="superscript" STYLE=
"font-size: 6pt !important; mso-style-name: superscript; vertical-align: super;">
225</FONT>Ac vs 46 minutes for <FONT CLASS="superscript" STYLE=
"font-size: 6pt !important; mso-style-name: superscript; vertical-align: super;">
213</FONT>Bi).</P>
<P CLASS="Textflush" STYLE=
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In preclinical animal models, doses in the nanocurie range
prolonged survival. In humans, Actimab-A was previously studied in
a Phase I monotherapy trial of relapsed or refractory AML patients
at MSKCC. Dose levels in that study re-confirmed the substantially
higher potency of Actimab-A, as compared to equivalent</P>
</DIV>
<P CLASS="LRH" STYLE=
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S-8</P>
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<P CLASS="Textflush" STYLE=
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dosing of the first-generation Bismab-A (<FONT CLASS="superscript"
STYLE=
"font-size: 6pt !important; mso-style-name: superscript; vertical-align: super;">213</FONT>Bi-lintuzumab)
construct, which had nevertheless established safety and efficacy
in a Phase 1/2 trial in high-risk AML with cytoreduction.</P>
<P CLASS="Textflush" STYLE=
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Sources: Jurcic JG. Targeted Alpha-Particle Immunotherapy with
Bismuth-213 and Actinium-225 for Acute Myeloid Leukemia. J.
Postgrad Med Edu Res 2013, 47(1):14-17; ; JG Jurcic et al, Phase 1
Trial of the Targeted Alpha- Particle Nano-Generator Actinium-225
(225Ac)-Lintuzumab in Acute Myeloid Leukemia (AML) J Clin Oncol
29:2011 (suppl, abstr 6516); McDevitt MR et al, &ldquo;Tumor
Therapy with Targeted Atomic Nanogenerators&rdquo; Science 2001,
294:1537&mdash;1540; Rosenblat TL et al, &ldquo;Sequential
cytarabine and alpha-particle immunotherapy with bismuth-
213-lintuzumab (HuM195) for acute myeloid leukemia&rdquo; Clin
Cancer Res. 2010, 16(21):5303-5311; Jurcic JG et al. &ldquo;Phase I
Trial of the Targeted Alpha-Particle Nano-Generator Actinium-225
(225Ac)-Lintuzumab in Acute Myeloid Leukemia (AML)&rdquo; Blood
(ASH Meeting Abstracts) 2012.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bolditalic" STYLE=
"mso-style-name: bolditalic; font-weight: bold; font-style: italic;">
<FONT STYLE="font-style: normal;">Ongoing Actimab&trade;-A
trial:</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
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We have completed the Phase 1 portion of our first company
sponsored Phase 1/2 multi-center trial with fractionated (two)
doses of Actimab&trade;-A, for the treatment of patients newly
diagnosed with AML over the age of 60. Actimab-A consists of an AML
specific monoclonal antibody (HuM195, also known as
Lintuzumab&trade;) and the actinium 225 radioactive isotope
attached to it. Results from the Phase 1 portion of the trial
showed that 28% (5 of 18) of patients had objective responses (2CR,
1CRp and 2 CRi (complete remission with incomplete blood count
recovery)) with median response duration of 9.1 months. Mean bone
marrow blast reduction amongst evaluable patients (14 of 18) was
67% with 57% of patients having bone marrow blast reduction of 50%
or greater and 79% (11 of 14) of patients having bone marrow blast
reductions after Cycle 1 of therapy. Maximum tolerated dose (MTD)
was not reached in this trial. We have elected to progress to the
Phase 2 portion of the trial at 2.0 &mu;Ci/kg/fraction, the highest
dose level from the Phase 1 portion of the clinical trial.</P>
<P CLASS="Textflush" STYLE=
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The Phase 2 portion of the trial will enroll 53 patients and will
study Actimab-A as a monotherapy. We received agreement from the
FDA for multiple revisions to the protocol for the Phase 2 portion
of the clinical trial that include:</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Removing the use of
low dose cytarabine from the Phase 2 protocol;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Stipulating
Peripheral blast burden as an inclusion criteria with 200 ML being
the threshold;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Mandating the use of
hydroxyurea in patients with peripheral blast count above 200 ML to
lower their peripheral blasts below 200ML/ prior to Actimab-A
administration; and</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Mandating the use of
granulocyte colony-stimulating factor (GCSF) support.</P>
<P CLASS="Textflush" STYLE=
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Bismab-A trials and the Phase 1 Actimab&trade;-A trial were focused
on relapsed, refractory and other difficult to treat acute myeloid
leukemia patients. The current multicenter Phase 1/2 trial is
focused on newly diagnosed AML patients who have historically had
better outcomes.</P>
<P CLASS="H3" ALIGN="center" STYLE=
'text-align: center; mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bolditalic" STYLE=
"mso-style-name: bolditalic; font-weight: bold; font-style: italic;">
<FONT STYLE="font-style: normal;">Intellectual
Property</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
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We have developed or in-licensed numerous patents and patent
applications and possess substantial know-how and trade secrets
related to the development and commercialization of our products.
Since January 2017, we have strengthened our intellectual property
position with the allowance of three additional patents and we
anticipate further allowances by the end of 2017. As of July 3,
2017, our patent portfolio includes: 52 issued patents, of which 10
were issued in the United States. We have an additional 14 patent
applications pending approval, of which 5 are pending in the United
States. Additionally, 1 provisional patent application has been
filed in 2017 with the preparation of new provisional patents
underway. This is part of an ongoing strategy to continue to
strengthen our intellectual property position. Approximately 30% of
our patents are in-licensed from third parties and the remainder
are held by us. These patents cover key areas of our business,
including use of the actinium-225 and other alpha emitting isotopes
attached to cancer specific carriers like monoclonal</P>
</DIV>
<P CLASS="RRH" STYLE=
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S-9</P>
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antibodies, methods for manufacturing key components of our product
candidates including actinium-225 the alpha emitting radioisotope
and carrier antibodies, and methods for manufacturing finished
product candidates for use in cancer treatment. The table below
classifies these patents by related family:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="98%" STYLE=
"width: 98.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="24%" VALIGN="bottom" STYLE=
"width: 24.84%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Area</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="31%" VALIGN="bottom" STYLE=
"width: 31.3%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Description</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
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<P CLASS="TCH" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">US<BR>
Expiration</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">US<BR>
Status</FONT></FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="bottom" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT LANG=
"EN-GB">Owner/ Licensor</FONT></FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="24%" VALIGN="top" STYLE=
"width: 24.84%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Platform technology</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="31%" VALIGN="top" STYLE=
"width: 31.3%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Antibody conjugates with DOTA chelators; methods
of treating cancer using the same</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
2021</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Issued</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
MSKCC</P>
</TD>
</TR>
<TR>
<TD WIDTH="24%" VALIGN="top" STYLE=
"width: 24.84%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="31%" VALIGN="top" STYLE=
"width: 31.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="24%" VALIGN="top" STYLE=
"width: 24.84%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Platform technology</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="31%" VALIGN="top" STYLE=
"width: 31.3%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Radioimmunoconjugate generation</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
2032</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Issued</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Owned</P>
</TD>
</TR>
<TR>
<TD WIDTH="24%" VALIGN="top" STYLE=
"width: 24.84%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="31%" VALIGN="top" STYLE=
"width: 31.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="24%" VALIGN="top" STYLE=
"width: 24.84%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Drug preparation methods</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="31%" VALIGN="top" STYLE=
"width: 31.3%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Actinium 225 labeling method (binding to an
antibody), labeling to high specific activity</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
2030, 2036</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Pending</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Owned</P>
</TD>
</TR>
<TR>
<TD WIDTH="24%" VALIGN="top" STYLE=
"width: 24.84%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="31%" VALIGN="top" STYLE=
"width: 31.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="24%" VALIGN="top" STYLE=
"width: 24.84%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Isotope production methods</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="31%" VALIGN="top" STYLE=
"width: 31.3%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Actinium 225 manufacturing in a cyclotron,
parent isotope handling and processing</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
2027</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Issued</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Owned</P>
</TD>
</TR>
<TR>
<TD WIDTH="24%" VALIGN="top" STYLE=
"width: 24.84%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="31%" VALIGN="top" STYLE=
"width: 31.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="24%" VALIGN="top" STYLE=
"width: 24.84%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Method of treatment</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="31%" VALIGN="top" STYLE=
"width: 31.3%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Conjugated antibody infusion, dose related
methods for treating malignancy</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
2035, 2037</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Pending</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Owned</P>
</TD>
</TR>
<TR>
<TD WIDTH="24%" VALIGN="top" STYLE=
"width: 24.84%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="31%" VALIGN="top" STYLE=
"width: 31.3%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="24%" VALIGN="top" STYLE=
"width: 24.84%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Drug composition</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="31%" VALIGN="top" STYLE=
"width: 31.3%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Stabilized immunoglobulin
compositions</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
2037</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Pending</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.66%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="12%" VALIGN="top" STYLE=
"width: 12.42%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Owned</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
'margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Patents whose claims address methods of treating hematopoietic
malignancies and stabilized compositions for the treatment thereof
with Iomab-B are pending. In addition to applying for these
patents, and while they are pending, we have developed a
proprietary strategy based on trade secret protection and the
potential for orphan drug and data exclusivities. The BC8 antibody,
cell line and related know-how has been exclusively licensed by us
from the Fred Hutchinson Cancer Research Center (FHCRC) in exchange
for milestones, royalties and research support.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Patents related to the antibody component of Actimab-A have been
exclusively licensed by us from AbbVie Biotherapeutics Corp. for
use with alpha-emitting radioisotopes in exchange for future
development and commercialization milestones, a royalty on net
sales for a period of 12.5 years from first commercial sale, a
negotiation right to be our clinical and/or commercial antibody
supplier, a negotiation right to co-promote Actimab&trade;-A in the
United States on terms to be negotiated, and the grant-back of IP
rights covering improvements to the antibody for use other than
with an alpha-emitting isotope. Patents covering actinium-225
conjugated to antibodies have been exclusively licensed by us from
MSKCC in exchange for license fees, research support payments,
development milestones, 2% royalties on net sales for the term of
the licensed patents or, if later, 10 years from first commercial
sale, and 15% of any sublicense income we may receive. We source
actinium-225 under an agreement with the Oak Ridge National
Laboratory (ORNL) that expires at the end of 2017. We believe, but
cannot guarantee, that we will be able to renew this contract for
additional annual periods.</P>
<P CLASS="H2" ALIGN="center" STYLE=
'text-align: center; mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Corporate and Other
Information</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We were organized in the State of Nevada in October 1997 and
reorganized in the State of Delaware in March 2013. Our principal
executive offices are located at 275 Madison Avenue, 7th Floor, New
York, New York 10016. Our telephone number is (646) 677-3870. Our
website address is www.actiniumpharma.com. Information accessed
through our website is not incorporated into this prospectus
supplement and is not a part of this prospectus supplement or the
accompanying prospectus.</P>
</DIV>
<P CLASS="LRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-10</P>
<DIV STYLE=
"border: solid windowtext 1.0pt; padding: 10.0pt 4.0pt 10.0pt 4.0pt;">
<P CLASS="H1" STYLE=
'margin-bottom: 10.0pt; mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
The Offering</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="98%" STYLE=
"width: 98.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttablewrap" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Texttable_wrap; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Issuer</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Actinium Pharmaceuticals, Inc.</P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttablewrap" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Texttable_wrap; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Common Stock Offered by Us</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">&#8199;&#8199;&#8199;&#8199; shares of common
stock.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttablewrap" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Texttable_wrap; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Common Stock to be Outstanding Immediately After
this Offering</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB"><BR>
&#8199;&#8199;&#8199;&#8199; shares.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttablewrap" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Texttable_wrap; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Warrants Offered by Us</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Warrants to purchase up to
&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; shares of common
stock.&nbsp; Each share of our common stock is being sold together
with a warrant to purchase &#8199;&#8199;&#8199;&#8199; of a share
of our common stock. Each full warrant will have an exercise price
of $&#8199;&#8199;&#8199;&#8199; per share, and will be exercisable
during the period commencing on July &#8199;&#8199;, 2017 and
ending on
&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">This prospectus supplement also relates to the
offering of the shares of common stock issuable upon exercise of
the warrants. The exercise price of the warrants and the number of
shares into which the warrants may be exercised are subject to
adjustment in certain circumstances.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttablewrap" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Texttable_wrap; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Use of Proceeds</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">We currently intend to use the net proceeds from
the sale of securities offered by this prospectus supplement to
fund clinical development of Iomab-B, Actimab-A, Actimab-M, our
alpha particle technology platform and for general corporate
purposes. See &ldquo;Use of Proceeds&rdquo; on page
S-40.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttablewrap" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Texttable_wrap; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Risk Factors</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">Investing in our common shares and warrants
involves a high degree of risk. For a discussion of factors that
you should consider before buying our securities, see the
information under &ldquo;Risk Factors&rdquo; in this prospectus
supplement and under similar headings in the documents incorporated
by reference into this prospectus supplement.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
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&nbsp;</FONT></P>
</TD>
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<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttablewrap" STYLE=
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NYSE American symbol</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
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&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
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&ldquo;ATNM.&rdquo;</P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="40%" VALIGN="top" STYLE=
"width: 40.34%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="57%" VALIGN="top" STYLE=
"width: 57.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
'line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT LANG="EN-GB">There is no established trading market for the
warrants and we do not expect a market to develop. In addition, we
do not intend to apply for the listing of the warrants on any
national securities exchange or other trading market. Without an
active trading market, the liquidity of the warrants will be
limited.</FONT></P>
</TD>
</TR>
</TABLE>
</DIV>
<P CLASS="RRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-11</P>
<DIV STYLE=
"border: solid windowtext 1.0pt; padding: 10.0pt 4.0pt 10.0pt 4.0pt;">
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The number of shares of our common stock that will be outstanding
immediately after the offering is based on 58,452,754 shares
outstanding as of July 19, 2017. Unless we specifically state
otherwise, the share information in this prospectus supplement
excludes:</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> 6,973,886 shares of
common stock issuable upon the exercise of stock options
outstanding as of July 19, 2017 under our equity incentive plans,
with a weighted average exercise price of $2.97 per share;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT> 6,174,450</FONT> shares of
common stock available for future grants under our equity incentive
plans as of July 19, 2017;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> 257,908 shares of
restricted stock reserved for issuance as of July 19, 2017; and</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT> 8,945,388</FONT> shares of
common stock issuable upon the exercise of warrants outstanding as
of July 19, 2017, with a weighted average exercise price of $3.69
per share; and</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> <FONT LANG=
"EN-GB">&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;</FONT>
shares of common stock issuable upon the exercise of the warrants
offered hereby.</P>
</DIV>
<P CLASS="LRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-12</P>
<P CLASS="H1" STYLE=
'mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Risk Factors</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="italic" STYLE=
"mso-style-name: italic; font-style: italic;">An investment in our
securities involves a high degree of risk. Prior to making a
decision about investing in our securities, you should carefully
consider the specific factors discussed below, together with all of
the other information contained or incorporated by reference in
this prospectus supplement and the accompanying prospectus,
including in our Annual Report on Form 10-K and any updates
described in our Quarterly Reports on Form 10-Q or other documents
filed by us with the SEC. It is not possible to predict or identify
all such risks. Consequently, we could also be affected by
additional factors that are not presently known to us or that we
currently consider to be immaterial to our operations.</FONT></P>
<P CLASS="H2" STYLE=
'mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><I><FONT STYLE=
"font-family: TimesNewRomanPSStd-BoldIt;">Risks Related to Our
Business</FONT></I></FONT></P>
<P CLASS="H3" STYLE=
'margin-top: 8.0pt; mso-style-name: H3; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">We have generated no
revenue from commercial sales to date and our future profitability
is uncertain.</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We have a limited operating history and our business is subject to
all of the risks inherent in the establishment of a new business
enterprise. Our likelihood of success must be considered in light
of the problems, expenses, difficulties, complications and delays
frequently encountered in connection with this development and
expansion. Since we began our business, we have focused on
research, development and clinical trials of product candidates,
and have incurred losses since inception. As of March 31, 2017, we
had an accumulated deficit of approximately $145 million. If we
continue to incur operating losses and fail to become a profitable
company, we may be unable to continue our operations. We expect to
continue to operate at a net loss as we continue our research and
development efforts, continue to conduct clinical trials and
develop manufacturing, sales, marketing and distribution
capabilities. There can be no assurance that the products under
development by us will be approved for sale in the United States or
elsewhere. Furthermore, there can be no assurance that if such
products are approved they will be successfully commercialized, and
the extent of our future losses and the timing of our profitability
are highly uncertain.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">If we fail to obtain the
capital necessary to fund our operations, we will be unable to
continue or complete our product development and you will likely
lose your entire investment.</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Although we believe we have enough working capital for operations
for the next 12 months, we do not currently have sufficient capital
for the completion of development nor commercialization of our
product candidates and we will need to continue to seek capital
from time to time to continue development of our product candidates
and to acquire and develop other product candidates. Our first
product candidate is not expected to be commercialized, if
approved, until at least 2019 and any partnering revenues that it
may generate may not be sufficient to fund our ongoing operations.
Our cash balance as of March 31, 2017 was approximately $17.1
million. Throughout the three months ended March 31, 2017, we
raised total net proceeds of approximately $1.9 million from the
sale of our common stock through our &ldquo;at the market
offering&rdquo;.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Our business or operations may change in a manner that would
consume available funds more rapidly than anticipated and
substantial additional funding may be required to maintain
operations, fund expansion, develop new or enhanced products,
acquire complementary products, business or technologies or
otherwise respond to competitive pressures and opportunities, such
as a change in the regulatory environment or a change in preferred
cancer treatment modalities. However, we may not be able to secure
funding when we need it or on favorable terms.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
To raise additional capital, we may in the future offer additional
shares of our common stock or other securities convertible into or
exchangeable for our common stock. We cannot assure you that we
will be able to sell shares or other securities in any other
offering at a price per share that is equal to or greater than the
price per share paid by investors, and investors purchasing shares
or other securities in the future could have rights superior to
existing stockholders. The price per share at which we sell
additional shares of our common stock or other securities
convertible into or exchangeable for our common stock in future
transactions may be higher or lower</P>
<P CLASS="RRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-13</P>
<P CLASS="Textflush" STYLE=
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than the price per share in this offering. Additionally, you may
incur dilution as a result of grants of equity awards under our
equity incentive plans, or as a result of exercise of options or
warrants currently outstanding with exercise prices at or below the
public offering price of our common stock in this offering.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
If we cannot raise adequate funds to satisfy our capital
requirements, we will have to delay, scale-back or eliminate our
research and development activities, clinical studies or future
operations. We may also be required to obtain funds through
arrangements with collaborators, which arrangements may require us
to relinquish rights to certain technologies or products that we
otherwise would not consider relinquishing, including rights to
future product candidates or certain major geographic markets. We
may further have to license our technology to others. This could
result in sharing revenues which we might otherwise have retained
for ourselves. Any of these actions may harm our business,
financial condition and results of operations.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The amount of capital we may need depends on many factors,
including the progress, timing and scope of our product development
programs; the progress, timing and scope of our preclinical studies
and clinical trials; the time and cost necessary to obtain
regulatory approvals; the time and cost necessary to further
develop manufacturing processes and arrange for contract
manufacturing; our ability to enter into and maintain
collaborative, licensing and other commercial relationships; and
our partners&rsquo; commitment of time and resources to the
development and commercialization of our products.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">We have limited access
to the capital markets and even if we can raise additional funding,
we may be required to do so on terms that are dilutive to
you.</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We have limited access to the capital markets to raise capital. The
capital markets have been unpredictable in the recent past for
radio-immunotherapy and other oncology companies and unprofitable
companies such as ours. In addition, it is generally difficult for
development stage companies to raise capital under current market
conditions. The amount of capital that a company such as ours is
able to raise often depends on variables that are beyond our
control. As a result, we may not be able to secure financing on
terms attractive to us, or at all. If we are able to consummate a
financing arrangement, the amount raised may not be sufficient to
meet our future needs. If adequate funds are not available on
acceptable terms, or at all, our business, including our technology
licenses, results of operations, financial condition and our
continued viability will be materially adversely affected.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">If we fail to obtain or
maintain necessary FDA approval for our radio-immunotherapy
products, or if such approvals are delayed, we will be unable to
commercially distribute and market our products.</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Our products are subject to rigorous regulation by the FDA and
numerous other federal, state and foreign governmental authorities.
The process of seeking regulatory approval to market a
radio-immunotherapy product is expensive and time-consuming and,
notwithstanding the effort and expense incurred, approval is never
guaranteed. If we are not successful in obtaining timely approval
of Company products from the FDA, we may never be able to generate
significant revenue and may be forced to cease operations. In
particular, the FDA permits commercial distribution of a new
radio-immunotherapy product only after a Biologics License
Application (BLA) for the product has received FDA approval. The
BLA process is costly, lengthy and inherently uncertain. Any BLA
filed by us will have to be supported by extensive data, including,
but not limited to, technical, preclinical, clinical trial,
manufacturing and labeling data, to demonstrate to the FDA&rsquo;s
satisfaction the safety and efficacy of the product for its
intended use. The lengthy approval process as well as the
unpredictability of future clinical trial results may result in our
failing to obtain regulatory approval to market our product
candidates, which would significantly harm our business, results of
operations and prospects. In addition, even if we were to obtain
approval, regulatory authorities may approve any of our product
candidates for fewer or more limited indications than we request,
may not approve the price we intend to charge for our products, may
grant approval contingent on the performance of costly
post-marketing clinical trials, or may approve a product candidate
with a label that does not include the labeling claims necessary or
desirable for the</P>
<P CLASS="LRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-14</P>
<P CLASS="Textflush" STYLE=
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successful commercialization of that product candidate. Any of the
foregoing scenarios could materially harm the commercial prospects
for our product candidates.</P>
<P CLASS="Textflush" STYLE=
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The approval process in the United States and in other countries
could result in unexpected and significant costs for us and consume
management&rsquo;s time and other resources. The FDA and other
foreign regulatory agencies could ask us to supplement our
submissions, collect non-clinical data, conduct additional clinical
trials or engage in other time-consuming actions, or it could
simply deny our applications. In addition, even if we obtain
approval to market our products in the United States or in other
countries, the approval could be revoked or other restrictions
imposed if post-market data demonstrates safety issues or lack of
effectiveness. We cannot predict with certainty how, or when, the
FDA or other regulatory authorities will act. If we are unable to
obtain the necessary regulatory approvals, our financial condition
and cash flow may be materially adversely affected, and our ability
to grow domestically and internationally may be limited.
Additionally, even if we obtain approval, regulatory authorities
may approve any of our product candidates for fewer or more limited
indications that we request. Our products may not be approved for
the specific indications that are most necessary or desirable for
successful commercialization or profitability.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Our radio-immunotherapy
product candidates are in the early stages of development; and we
have not demonstrated that any of our products are safe and
effective for any indication.</FONT></P>
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We currently have only two products in clinical development. In
December 2015, the FDA cleared our IND filing for Iomab-B, and we
have initiated the pivotal, Phase 3 clinical trial. We are
currently conducting a Phase 3, controlled, randomized, pivotal
trial. If the trial meets its end points, we expect that it will
form the basis for a BLA. Additionally, there are a number of
physician IND trials at the FHCRC that have been conducted or are
currently ongoing at FHCRC with Iomab-B and the BC8 antibody we
licensed. We have completed the Phase 1 portion of the Phase 1/2
multi- center AML trial with fractionated doses of Actimab-A under
its own federal IND and have commenced the Phase 2 portion of the
trial.</P>
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We cannot predict whether we will encounter problems with any of
our ongoing or planned clinical trials that will cause us or
regulatory authorities to delay, suspend, or discontinue clinical
trials or to delay the analysis of data from ongoing clinical
trials. Any of the following could delay or disrupt the clinical
development of our product candidates and potentially cause our
product candidates to fail to receive regulatory approval:</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> conditions imposed
on us by the FDA or comparable foreign authorities regarding the
scope or design of our clinical trials;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> delays in receiving,
or the inability to obtain, required approvals from institutional
review boards (IRBs) or other reviewing entities at clinical sites
selected for participation in our clinical trials;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> delays in enrolling
patients into clinical trials;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> a lower than
anticipated retention rate of patients in clinical trials;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the need to repeat
or discontinue clinical trials as a result of inconclusive or
negative results or unforeseen complications in testing or because
the results of later trials may not confirm positive results from
earlier preclinical studies or clinical trials;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> inadequate supply,
delays in distribution, deficient quality of, or inability to
purchase or manufacture drug product, comparator drugs or other
materials necessary to conduct our clinical trials;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> unfavorable FDA or
other foreign regulatory inspection and review of a clinical trial
site or records of any clinical or preclinical investigation;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> serious and
unexpected drug-related side effects experienced by participants in
our clinical trials, which may occur even if they were not observed
in earlier trials or only observed in a limited number of
participants;</P>
<P CLASS="RRH" STYLE=
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S-15</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> a finding that the
trial participants are being exposed to unacceptable health
risks;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the placement by the
FDA or a foreign regulatory authority of a clinical hold on a
trial; or</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> delays in obtaining
regulatory agency authorization for the conduct of our clinical
trials.</P>
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We may suspend, or the FDA or other applicable regulatory
authorities may require us to suspend, clinical trials of a product
candidate at any time if we or they believe the patients
participating in such clinical trials, or in independent third
party clinical trials for drugs based on similar technologies, are
being exposed to unacceptable health risks or for other
reasons.</P>
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Further, individuals involved with our clinical trials may serve as
consultants to us from time to time and receive stock options or
cash compensation in connection with such services. If these
relationships and any related compensation to the clinical
investigator carrying out the study result in perceived or actual
conflicts of interest, or the FDA concludes that the financial
relationship may have affected interpretation of the study, the
integrity of the data generated at the applicable clinical trial
site may be questioned and the utility of the clinical trial itself
may be jeopardized. The delay, suspension or discontinuation of any
of our clinical trials, or a delay in the analysis of clinical data
for our product candidates, for any of the foregoing reasons, could
adversely affect our efforts to obtain regulatory approval for and
to commercialize our product candidates, increase our operating
expenses and have a material adverse effect on our financial
results.</P>
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Clinical trials may also be delayed or terminated as a result of
ambiguous or negative interim results. In addition, a clinical
trial may be suspended or terminated by us, the FDA, the IRBs at
the sites where the IRBs are overseeing a trial, or a data safety
monitoring board, or DSMB (Data Safety Monitoring Board),
overseeing the clinical trial at issue, or other regulatory
authorities due to a number of factors, including:</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> failure to conduct
the clinical trial in accordance with regulatory requirements or
our clinical protocols;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> inspection of the
clinical trial operations or trial sites by the FDA or other
regulatory authorities resulting in the imposition of a clinical
hold;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> varying
interpretation of data by the FDA or similar foreign regulatory
authorities;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> failure to achieve
primary or secondary endpoints or other failure to demonstrate
efficacy;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> unforeseen safety
issues; or</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> lack of adequate
funding to continue the clinical trial.</P>
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Additionally, changes in regulatory requirements and guidance may
occur and we may need to amend clinical trial protocols to reflect
these changes. Amendments may require us to resubmit our clinical
trial protocols to IRBs for reexamination, which may impact the
cost, timing or successful completion of a clinical trial.</P>
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In addition, neither we nor any relevant collaborative partner(s)
has yet undertaken any clinical assessment or investigation of
Company&rsquo;s radio-immunotherapy product candidates for other
indications, including colon cancer or prostate cancer. Significant
further investment may be required to acquire antibody rights and
to undertake necessary research and continued development. Further
laboratory and specific clinical testing will be required prior to
regulatory approval of any product candidates. Adverse or
inconclusive results from pre-clinical testing or clinical trials
of product candidates may substantially delay, or halt entirely,
any further development of one or more of our products. The
projected timetables for continued development of the technologies
and related product candidates by us may otherwise be subject to
delay or suspension.</P>
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S-16</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Modifications to our
product candidates may require federal approvals.</FONT></P>
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The BLA application is the vehicle through which we may formally
propose that the FDA approve a new pharmaceutical for sale and
marketing in the United States. Once a particular product candidate
receives FDA approval, expanded uses or uses in new indications of
our products may require additional human clinical trials and new
regulatory approvals, including additional IND and BLA submissions
and premarket approvals before we can begin clinical development,
and/or prior to marketing and sales. If the FDA requires new
approvals for a particular use or indication, we may be required to
conduct additional clinical studies, which would require additional
expenditures and harm our operating results. If the products are
already being used for these new indications, we may also be
subject to significant enforcement actions.</P>
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Conducting clinical trials and obtaining approvals can be a
time-consuming process, and delays in obtaining required future
approvals could adversely affect our ability to introduce new or
enhanced products in a timely manner, which in turn would harm our
future growth.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">There is no guarantee
that the FDA will approve BLAs for our product candidates and
failure to obtain necessary approvals for our product candidates
would adversely affect our ability to grow our business.</FONT></P>
<P CLASS="Textflush" STYLE=
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In June 2012, we acquired rights to BC8 (Iomab), a clinical stage
monoclonal antibody with safety and efficacy data in more than 300
patients in need of HSCT. Iomab-B is our product candidate that
links Iodine-131 to the BC8 antibody that is being studied in an
ongoing Phase 3 pivotal trial. Product candidates utilizing this
antibody would require BLA approval before they can be marketed in
the United States. We have recently commenced the Phase 2 portion
of a multi-center Phase 1/2 clinical trial for our product
candidate, Actimab-A, in AML and in the future expect to submit a
BLA to the FDA for approval of this product. Actimab-A consists of
the anti-CD33 antibody lintuzumab linked with the isotope
actinium-225. This product candidate is also the subject of an
ongoing human safety trial being conducted under a physician IND at
MSKCC. Product candidates utilizing this antibody would require BLA
approval before they can be marketed in the United States. We are
in the early stages of evaluating other product candidates
consisting of conjugates of Ac-225 with human or humanized
antibodies for pre-clinical and clinical development in other types
of cancer. The FDA may not approve these products for the
indications that are necessary or desirable for successful
commercialization. Indeed, the FDA may fail to approve any BLA we
submit for new product candidates or for new intended uses or
indications for approved products or future product candidates.
Failure to obtain FDA approval for our products in the proposed
indications would have an adverse effect on our ability to expand
our business.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Clinical trials
necessary to support approval of BLAs for our product candidates
will be time consuming and expensive. Delays or failures in our
clinical trials may prevent us from commercializing our product
candidates and will adversely affect our business, operating
results and prospects and could cause us to cease
operations.</FONT></P>
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Initiating and completing clinical trials necessary to support FDA
approval of a BLA for Iomab-B, Actimab-A and other product
candidates, is a time-consuming and expensive process, and the
outcome is inherently uncertain. Moreover, the results of early
clinical trials are not necessarily predictive of future results,
and any product candidate we advance into clinical trials may not
have favorable results in later clinical trials. We have worked
with the FDA to develop a clinical trial designed to test the
safety and efficacy of Iomab-B in patients with relapsed or
refractory AML who are age 55 and above prior to a HSCT. This trial
is designed to support a BLA filing for marketing approval by the
FDA, pending results from the trial. We have also worked with the
FDA to develop a clinical trial designed to test the initial safety
and efficacy of Actimab-A in newly diagnosed AML patients over the
age of 60, and on October 6, 2008, and January 5, 2009, we
submitted IND amendments to the FDA for the conduct of a
multi-center Phase 1/2 clinical trial for treatment of AML.
Subsequent to the completion of the Phase 1 portion of the Phase
1/2 clinical trial we submitted protocol amendments to the FDA in
August of 2016, which were agreed upon in September of 2016. The
Phase 2 portion of the trial is now underway with the purpose of
examining the use of Actimab-A in AML patients who are not eligible
for</P>
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S-17</P>
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approved forms of treatment with curative intent. The trial is not
designed to support marketing approval for the product candidate,
and one or more additional trials will have to be conducted in the
future before we file a BLA. In addition, there can be no assurance
that the data generated during the trial will meet our chosen
safety and effectiveness endpoints or otherwise produce results
that will eventually support the filing or approval of a BLA. Even
if the data from this trial are favorable, these data may not be
predictive of the results of any future clinical trials.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">The issued patents,
which are licensed by us for the HuM195 antibody, our acute myeloid
leukemia targeting antibody, may expire before we have
commercialized Actimab-A.</FONT></P>
<P CLASS="Textflush" STYLE=
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The humanized antibody which we use in the conjugated Actimab-A
product candidate is covered by the claims of issued patents that
we license from Facet Biotech Corporation, a wholly-owned
subsidiary of AbbVie Laboratories. After these patents expire,
others may be eventually able to use an antibody with the same
sequence, and we will then need to rely on additional patent
protection covering alpha particle drug products comprising
actinium 225. Any competing product based on the HuM195 antibody is
likely to require several years of development before achieving our
product candidate&rsquo;s current status and may be subject to
significant regulatory hurdles, but is nevertheless a possibility
that can affect our business in the future.</P>
<P CLASS="Textflush" STYLE=
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Additionally, because we expect that certain of these patents will
expire prior to commercialization of Actimab-A, we expect that in
order to attract a commercialization partner for that product
candidate, we may need to reach an agreement with AbbVie to reduce
the milestone payments and royalties currently required to be paid
under our license agreement for HuM195. There can be no assurance
that the parties will be able to agree on an amendment to the terms
of the license. Failure to reach such an agreement could materially
adversely affect our ability to find a commercialization partner
for Actimab-A which may materially harm our business.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Iomab-B is not patent
protected.</FONT></P>
<P CLASS="Textflush" STYLE=
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Neither the antibody portion nor the composition of matter as a
whole for the conjugated Iomab product candidate is covered by the
claims of any issued or pending patents. Accordingly, there are no
patents that would prevent others from using an antibody with the
same antibody sequence in any drug product (e.g., those comprising
iodine 131 or alpha particle emitters). Any competing product based
on the antibody used in Iomab-B is likely to require several years
of development before achieving our product candidate&rsquo;s
current status and may be subject to significant regulatory
hurdles, but is nevertheless a possibility that could negatively
impact our business in the future.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">We may be unable to
obtain a sufficient supply of Ac-225 medical grade isotope in order
to continue clinical trials and to allow for the manufacture of
commercial quantities of Actimab-A, Actimab-M and any other Ac-225
based drug candidates that we may develop.</FONT></P>
<P CLASS="Textflush" STYLE=
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There are limited quantities of Ac-225 available today. The
existing supplier of Ac-225 to us is the ORNL, which is a science
and energy national laboratory in the Department of Energy system.
ORNL manufactures Ac-225 by eluting it from its supply of
Thorium-229. Although this has proven to be a very reliable source
of production for a number of years, it is limited by the quantity
of Thorium-229 at ORNL. We believe that the current approximate
maximum of Ac-225 production from this source is sufficient for
approximately 1,000&ndash;2,000 patient treatments per year. Our
needs are significantly below that amount at this time, and will
continue to be below that amount prior to commercializing a product
with a potential of selling more than 2,000 patient doses per year.
We believe that this supply will be sufficient for completion of
clinical trials and early commercialization. To secure supplies
beyond this amount, we have developed what we believe to be a
scalable cost-effective process for manufacturing Ac-225 in a
cyclotron at an estimated cost in excess of $5 million. This work
has been conducted at Technical University Munich (TUM) in Germany.
We are now in possession of preparing detailed descriptions of all
the developed manufacturing procedures and securing rights to all
relevant patent applications and other intellectual property.
However, we do not currently have access to a commercial</P>
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S-18</P>
<P CLASS="Textflush" STYLE=
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cyclotron capable of producing medical grade Ac-225. Although beam
time on such cyclotrons is commercially available, we do not
currently have a relationship with any entity that owns or controls
a suitable cyclotron. We have identified possible sources and
estimate that we could secure the necessary beam time when needed
at a cost of approximately $2 million per year. Our contract for
supply of this isotope from ORNL must be renewed yearly, and the
current contract extends through the end of 2017. While we expect
this contract will be renewed at the end of its term, however,
there can be no assurance that ORNL will renew the contract or that
the United States Department of Energy will not change its policies
that allow for the sale of isotope to us. Failure to acquire
sufficient quantities of medical grade Ac-225 would make it
impossible to effectively complete clinical trials and to
commercialize Actimab-A, Actimab-M and any other Ac-225 based drug
candidates that we may develop and would materially harm our
business.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Conducting successful
clinical studies may require the enrollment of large numbers of
patients, and suitable patients may be difficult to identify and
recruit.</FONT></P>
<P CLASS="Textflush" STYLE=
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Patient enrollment in clinical trials and completion of patient
participation and follow-up depends on many factors, including the
size of the patient population; the nature of the trial protocol;
the availability of approved effective treatments for the relevant
disease; competition from other clinical trial programs for similar
indications; the attractiveness of, or the discomforts and risks
associated with, the treatments received by enrolled subjects; the
availability of appropriate clinical trial investigators; support
staff; and proximity of patients to clinical sites and ability to
comply with the eligibility and exclusion criteria for
participation in the clinical trial and patient compliance. For
example, patients may be discouraged from enrolling in our clinical
trials if the trial protocol requires them to undergo extensive
post-treatment procedures or follow-up to assess the safety and
effectiveness of our product candidates or if they determine that
the treatments received under the trial protocols are not
attractive or involve unacceptable risks or discomforts. Patients
may also not participate in our clinical trials if they choose to
participate in contemporaneous clinical trials of competitive
product candidates. In addition, patients participating in
refractory AML clinical trials are seriously and often terminally
ill and therefore may not complete the clinical trial due to
reasons including comorbid conditions or occurrence of adverse
medical events related or unrelated to the investigational
products, or death.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Development of
sufficient and appropriate clinical protocols to demonstrate safety
and efficacy are required and we may not adequately develop such
protocols to support approval.</FONT></P>
<P CLASS="Textflush" STYLE=
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The FDA may require us to submit data on a greater number of
patients than we originally anticipated and/or for a longer
follow-up period or change the data collection requirements or data
analysis applicable to our clinical trials. It may also require
additional data on certain categories of patients, should it emerge
during the conduct of our clinical trials that certain categories
of patients are likely to be affected in different and/or
additional manners than the rest of the patient population. In
addition to FDA requirements, our clinical trials require the
approval of the IRB at each site selected. We have submitted our
clinical trial protocol for our current Actimab-A clinical trial to
the IRBs at participating sites for approval and we have thus far
obtained approval from ten IRBs. Our clinical trial protocols have
not been rejected by any IRB to date.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT STYLE=
"letter-spacing: -.05pt;">FDA may take actions that would prolong,
delay, suspend, or terminate clinical trials of our product
candidates, which may delay or prevent us from commercializing our
product candidates on a timely basis, causing us to incur
additional costs and delay our receipt of any revenue from
potential product sales.</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
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<FONT STYLE="letter-spacing: -.1pt;">There can be no assurance that
the data generated in our clinical trials will be acceptable to FDA
or that if future modifications during the trial are necessary,
that any such modifications will be acceptable to FDA. Certain
modifications to a clinical trial protocol made during the course
of the clinical trial have to be submitted to the FDA. This could
result in the delay or halt of a clinical trial while the
modification is evaluated. In addition, depending on the quantity
and nature of the changes made, FDA could take the position that
some or all of the data generated by the clinical trial is not
usable because the same protocol was not used throughout the trial.
This might require the enrollment of additional subjects, which
could result in the extension of the clinical trial and the
FDA</FONT></P>
<P CLASS="RRH" STYLE=
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S-19</P>
<P CLASS="Textflush" STYLE=
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<FONT STYLE="letter-spacing: -.1pt;">delaying approval of a product
candidate. If the FDA believes that its prior approval is required
for a particular modification, it can delay or halt a clinical
trial while it evaluates additional information regarding the
change.</FONT></P>
<P CLASS="Textflush" STYLE=
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Serious injury or death resulting from a failure of one of our
product candidates during current or future clinical trials could
also result in the FDA delaying our clinical trials or denying or
delaying approval of a product candidate.</P>
<P CLASS="Textflush" STYLE=
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Even though an adverse event may not be the result of our product
candidate, the FDA or an IRB could delay or halt a clinical trial
for an indefinite period of time while an adverse event is
reviewed, and likely would do so in the event of multiple such
events.</P>
<P CLASS="Textflush" STYLE=
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Any delay or termination of our current or future clinical trials
as a result of the risks summarized above, including delays in
obtaining or maintaining required approvals from IRBs, delays in
patient enrollment, the failure of patients to continue to
participate in a clinical trial, and delays or termination of
clinical trials as a result of protocol modifications or adverse
events during the trials, may cause an increase in costs and delays
in the filing of any submissions with the FDA, delay the approval
and commercialization of our product candidates or result in the
failure of the clinical trial, which could adversely affect our
business, operating results and prospects. Lengthy delays in the
completion of our Actimab-A clinical trials would adversely affect
our business and prospects and could cause us to cease
operations.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">If the third parties on
which we rely to conduct our clinical trials and to assist us with
pre-clinical development do not perform as contractually required
or expected, or fail to comply with applicable regulations and
standards, we may not be able to obtain regulatory approval for or
commercialize our product candidates.</FONT></P>
<P CLASS="Textflush" STYLE=
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We do not have the ability to independently conduct our
pre-clinical and clinical trials for our product candidates and we
must rely on third parties, such as contract research
organizations, medical institutions, clinical investigators and
contract laboratories to conduct such trials. Our reliance on these
third parties for clinical development activities results in
reduced control over these activities. Moreover, the FDA requires
us to comply with regulations and standards, commonly referred to
as GCPs (good clinical practices), for conducting, recording and
reporting the results of clinical trials to assure that data and
reported results are credible and accurate and that the trial
participants are adequately protected. Our reliance on third
parties does not relieve us of these responsibilities and
requirements. If we or any of our third-party contractors fail to
comply with applicable GCPs, the clinical data generated in our
clinical trials may be deemed unreliable and the FDA or comparable
foreign regulatory authorities may require us to perform additional
clinical trials before approving our marketing applications. We
cannot assure you that upon inspection by a given regulatory
authority, such regulatory authority will determine that any of our
clinical trials complies with GCP regulations. In addition, our
clinical trials must be conducted with product produced under
current good manufacturing practice, or cGMP, regulations. Our
failure to comply with these regulations may require us to repeat
clinical trials, which would delay the regulatory approval
process.</P>
<P CLASS="Textflush" STYLE=
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To date, we believe our consultants, contract research
organizations and other similar entities with which we are working
have performed well; however, if these third parties do not
successfully carry out their contractual duties, meet expected
deadlines, or comply with applicable regulations, we may be
required to replace them. Although we believe that there are a
number of other third-party contractors we could engage to continue
these activities, we may not be able to enter into arrangements
with alternative third-party contractors or to do so on
commercially reasonable terms, which may result in a delay of our
planned clinical trials. Accordingly, we may be delayed in
obtaining regulatory approvals for our product candidates and may
be delayed in our efforts to successfully develop our product
candidates.</P>
<P CLASS="Textflush" STYLE=
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In addition, our third-party contractors are not our employees, and
except for remedies available to us under our agreements with such
third-party contractors, we cannot control whether or not they
devote sufficient time and resources to our ongoing clinical,
nonclinical and preclinical programs. If these third parties do not
successfully</P>
<P CLASS="LRH" STYLE=
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S-20</P>
<P CLASS="Textflush" STYLE=
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carry out their contractual duties or regulatory obligations or
meet expected deadlines, if these third parties need to be
replaced, or if the quality or accuracy of the data they obtain is
compromised due to the failure to adhere to our clinical protocols
or regulatory requirements or for other reasons, our pre-clinical
development activities or clinical trials may be extended, delayed,
suspended or terminated, and we may not be able to obtain
regulatory approval for, or successfully commercialize, our product
candidates on a timely basis, if at all, and our business,
operating results and prospects may be adversely affected.
Furthermore, our third-party clinical trial investigators may be
delayed in conducting our clinical trials for reasons outside of
their control.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">The future results of
our current or future clinical trials may not support our product
candidate claims or may result in the discovery of unexpected
adverse side effects.</FONT></P>
<P CLASS="Textflush" STYLE=
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Even if our clinical trials are completed as planned, we cannot be
certain that their results will support our product candidate
claims or that the FDA or foreign authorities will agree with our
conclusions regarding them. Success in pre-clinical studies and
early clinical trials does not ensure that later clinical trials
will be successful, and we cannot be sure that the later trials
will replicate the results of prior trials and pre-clinical
studies. The clinical trial process may fail to demonstrate that
our product candidates are safe and effective for the proposed
indicated uses. If FDA concludes that the clinical trials for
Iomab-B, Actimab-A, or any other product candidate for which we
might seek approval, have failed to demonstrate safety and
effectiveness, we would not receive FDA approval to market that
product candidate in the United States for the indications sought.
In addition, such an outcome could cause us to abandon the product
candidate and might delay development of others. Any delay or
termination of our clinical trials will delay or preclude the
filing of any submissions with the FDA and, ultimately, our ability
to commercialize our product candidates and generate revenues. It
is also possible that patients enrolled in clinical trials will
experience adverse side effects that are not currently part of a
product candidate&rsquo;s profile. In addition, our clinical trials
for Actimab-A involve a relatively small patient population.
Because of the small sample size, their results may not be
indicative of future results.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Our product candidates
for which we intend to seek approval as biologic products may face
competition sooner than anticipated.</FONT></P>
<P CLASS="Textflush" STYLE=
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Our product candidates are regulated by the FDA as biologic
products and we intend to seek approval for these products pursuant
to the BLA pathway. The Biologics Price Competition and Innovation
Act of 2009, or BPCIA, created an abbreviated pathway for the
approval of biosimilar and interchangeable biologic products. The
abbreviated regulatory pathway establishes legal authority for the
FDA to review and approve biosimilar biologics, including the
possible designation of a biosimilar as
&ldquo;interchangeable&rdquo; based on its similarity to an
existing brand product. Under the BPCIA, an application for a
biosimilar product cannot be approved by the FDA until 12 years
after the original branded product was approved under a BLA. The
law is complex and is still being interpreted and implemented by
the FDA. As a result, its ultimate impact, implementation, and
meaning are subject to uncertainty. While it is uncertain when such
processes intended to implement BPCIA may be fully adopted by the
FDA, any such processes could have a material adverse effect on the
future commercial prospects for our biologic products.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Iomab-B, Actimab-A and
future product candidates may never achieve market
acceptance.</FONT></P>
<P CLASS="Textflush" STYLE=
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Iomab-B, Actimab-A, Actimab-M and future product candidates that we
may develop or gain market acceptance among physicians, patients
and the medical community. The degree of market acceptance of any
of product will depend on a number of factors, including the actual
and perceived effectiveness and reliability of the product; the
results of any long-term clinical trials relating to use of the
product; the availability, relative cost and perceived advantages
and disadvantages of alternative technologies; the degree to which
treatments using the product are approved for reimbursement by
public and private insurers; the strength of our marketing and
distribution infrastructure; and the level of education and
awareness among physicians and hospitals concerning the
product.</P>
<P CLASS="RRH" STYLE=
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S-21</P>
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Failure of Iomab-B, Actimab-A, Actimab-M or any of our other
product candidates to significantly penetrate current or new
markets would negatively impact our business financial condition
and results of operations<FONT CLASS="bolditalic" STYLE=
"mso-style-name: bolditalic; font-weight: bold; font-style: italic;">.</FONT></P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">To be commercially
successful, physicians must be persuaded that using our product
candidates for treatment of AML and other cancers, if approved for
those indications, are effective alternatives to existing therapies
and treatments.</FONT></P>
<P CLASS="Textflush" STYLE=
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We believe that oncologists and other physicians will not widely
adopt a product candidate unless they determine, based on
experience, clinical data, and published peer-reviewed journal
articles, that the use of that product candidate provides an
effective alternative to other means of treating specific cancers.
Patient studies or clinical experience may indicate that treatment
with our product candidates does not provide patients with
sufficient benefits in extension of life or quality of life. We
believe that recommendations and support for the use of each
product candidate from influential physicians will be essential for
widespread market acceptance. Our product candidates are still in
the development stage and it is premature to attempt to gain
support from physicians at this time. We can provide no assurance
that such support will ever be obtained. If our product candidates
do not receive such support from these physicians and from
long-term data, physicians may not use or continue to use, and
hospitals may not purchase or continue to purchase, them.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Both before and after
marketing approval, our product candidates are subject to ongoing
regulatory requirements and continued regulatory review, and if we
fail to comply with these continuing regulatory requirements, we
could be subject to a variety of sanctions and the sale of any
approved products could be suspended.</FONT></P>
<P CLASS="Textflush" STYLE=
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Both before and after regulatory approval to market a particular
product candidate, the manufacturing, labeling, packaging, adverse
event reporting, storage, advertising, promotion, distribution and
record keeping related to the product are subject to extensive,
ongoing regulatory requirements enforced by FDA and other similar
regulatory bodies. Additionally, because our product candidates
include radio-active isotopes, they will be subject to additional
regulation and oversight from the United States Nuclear Regulatory
Commission (NRC) and similar bodies in other jurisdictions. The FDA
regulatory requirements include submissions of safety and other
post-marketing information and reports, registration, as well as
continued compliance with cGMP requirements and GCP requirements
for any clinical trials that we conduct post-approval. Any
regulatory approvals that we receive for our product candidates may
also be subject to limitations on the approved indicated uses for
which the product may be marketed or to the conditions of approval,
or contain requirements for potentially costly post-marketing
testing, including Phase IV clinical trials, and surveillance to
monitor the safety and efficacy of the product candidate. Later
discovery of previously unknown problems with a product, including
adverse events of unanticipated severity or frequency, or with our
third-party manufacturers or manufacturing processes, or failure to
comply with the regulatory requirements of the FDA and other
applicable U.S. and foreign regulatory authorities could subject us
to administrative or judicially imposed sanctions, including:</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> restrictions on the
marketing of our products or their manufacturing processes;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> warning letters;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> civil or criminal
penalties;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> fines;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> injunctions;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> product seizures or
detentions;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> import or export
bans;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> voluntary or
mandatory product recalls and related publicity requirements;</P>
<P CLASS="LRH" STYLE=
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S-22</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> suspension or
withdrawal of regulatory approvals;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> total or partial
suspension of production; and</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> refusal to approve
pending applications for marketing approval of new products or
supplements to approved applications.</P>
<P CLASS="Textflush" STYLE=
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The FDA&rsquo;s policies may change and additional government
regulations may be enacted that could prevent, limit or delay
regulatory approval of our product candidates. If we are slow or
unable to adapt to changes in existing requirements or the adoption
of new requirements or policies, or if we are not able to maintain
regulatory compliance, we may lose any marketing approval that we
may have obtained, which would adversely affect our business,
prospects and ability to achieve or sustain profitability.</P>
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Even if regulatory approval of a product candidate is granted, such
approval may be subject to limitations on the intended uses for
which a product may be marketed and reduce the potential to
successfully commercialize that product and generate revenue from
that product. If the FDA determines that the product promotional
materials, labeling, training or other marketing or educational
activities constitute promotion of an unapproved use, it could
request that we or our commercialization partners cease or modify
our training or promotional materials or subject us to regulatory
enforcement actions. It is also possible that other federal, state
or foreign enforcement authorities might take action if they
consider such training or other promotional materials to constitute
promotion of an unapproved use, which could result in significant
fines or penalties under other statutory authorities, such as laws
prohibiting false claims for reimbursement.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Our revenue stream will
depend upon third party coverage and reimbursement of our product
candidates, if approved.</FONT></P>
<P CLASS="Textflush" STYLE=
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The commercial success of our product candidates in both domestic
and international markets will be substantially dependent on
whether third-party coverage and reimbursement is available for
patients that use our products. However, the availability of
insurance coverage and reimbursement for newly approved cancer
therapies is uncertain, and therefore, third-party coverage may be
particularly difficult to obtain even if our products are approved
by the FDA as safe and efficacious. Patients using existing
approved therapies are generally reimbursed all or part of the
product cost by Medicare or other third-party payors. Medicare,
Medicaid, health maintenance organizations and other third-party
payors are increasingly attempting to contain healthcare costs by
limiting both coverage and the level of reimbursement of new drugs,
and, as a result, they may not cover or provide adequate payment
for these products. Submission of applications for reimbursement
approval generally does not occur prior to the filing of a BLA for
that product and may not be granted until many months after BLA
approval. In order to obtain coverage and reimbursement for these
products, we or our commercialization partners may have to agree to
a net sales price lower than the net sales price we might charge in
other sales channels. The continuing efforts of government and
third-party payors to contain or reduce the costs of healthcare may
limit our revenue. Initial dependence on the commercial success of
our products may make our revenues particularly susceptible to any
cost containment or reduction efforts.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">We may become subject to
litigation brought by third-party service providers, consultants or
former employees.</FONT></P>
<P CLASS="Textflush" STYLE=
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In our normal course of business, we may enter into contracts with
third-party service providers, consultants, contract research
organizations, contract sales organizations, commercial partners,
universities, governmental agencies, not-for-profit organizations,
and employees. If we fail to satisfy the terms of these contracts
or the party to the contract believes we violated or failed to
satisfy the terms of an agreement, litigation or other dispute
resolution proceedings may be initiated against us.</P>
<P CLASS="RRH" STYLE=
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S-23</P>
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The outcomes of litigation or other dispute resolutions initiated
against us are uncertain. Litigation or other proceedings may
consume a substantial portion of our financial resources and the
efforts of our personnel. The party that initiates litigation
against us may be able to sustain the costs of such litigation more
effectively than we can because of their substantially greater
financial and personnel resources. Litigation may also absorb
significant time of management leading to an adverse effect on
company performance.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">We have no manufacturing
capacity and depend on third-party manufacturers to produce our
pre-clinical and clinical trial drug supplies.</FONT></P>
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We do not currently operate manufacturing facilities for
pre-clinical or clinical production of any of our product
candidates. We lack experience in drug manufacturing, and we lack
the resources and the capabilities to manufacture any of our
product candidates on a clinical or commercial scale. As a result,
we rely on third-party manufacturers to supply, store, and
distribute pre-clinical and clinical supply of our product
candidates, and plan to continue to do so for the foreseeable
future. Any performance failure on the part of our existing or
future manufacturers could delay clinical development or regulatory
approval of our product candidates or commercialization of any
approved products, producing additional losses and depriving us of
potential product revenue. We are currently manufacturing the
antibody HuM195, which is a component of our Actimab-A and
Actimab-M drug candidates that are currently in a Phase 2 and Phase
1 clinical trial, respectively. At this time, we are undertaking
release testing of a new batch of HuM195 antibody. If we are unable
to successfully release the manufactured batch of the HuM195
antibody in a timely fashion we may encounter delays in our
clinical trials. Inability to secure continued clinical supply of
HuM195 antibody may impact our competitive position with these drug
candidates as manufacturing another batch would require additional
resources and time.</P>
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Our product candidates require precise, high quality manufacturing.
Failure by our contract manufacturer to achieve and maintain high
manufacturing standards could result in patient injury or death,
product recalls or withdrawals, delays or failures in testing or
delivery, cost overruns, or other problems that could seriously
hurt our business. Contract manufacturers may encounter
difficulties involving production yields, quality control, and
quality assurance. These manufacturers are subject to ongoing
periodic and unannounced inspections by the FDA and corresponding
state and foreign agencies to ensure strict compliance with cGMPs
and other applicable government regulations and corresponding
foreign standards; however, we do not have control over third-party
manufacturers&rsquo; compliance with these regulations and
standards.</P>
<P CLASS="Textflush" STYLE=
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Furthermore, these third party contractors, whether foreign or
domestic, may experience regulatory compliance difficulty,
mechanical shut downs, employee strikes, or any other unforeseeable
acts that may delay or limit production, which could leave our
commercial partners with inadequate supplies of product to sell,
especially when regulatory requirements or customer demand
necessitate the need for additional product supplies. Our inability
to adequately establish, supervise and conduct (either ourselves or
through third parties) all aspects of the formulation and
manufacturing processes, and the inability of third party
manufacturers to consistently supply quality product when required
would have a material adverse effect on our ability to
commercialize and sell our products. We have faced delays and risks
associated with reliance on key third party manufacturers in the
past and may be faced with such delays and risks in the future. Any
future manufacturing interruptions or related supply issues could
have an adverse effect on our company, including delays in clinical
trials, which may result in claims by or against us or our partners
for breach of contract.</P>
<P CLASS="Textflush" STYLE=
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If a contract manufacturer cannot perform as agreed, we may be
required to replace it. We may incur added costs and delays in
identifying and qualifying replacements because the FDA must
approve any replacement manufacturer prior to manufacturing our
product candidates. Such approval would require new testing and
compliance inspections. In addition, a new manufacturer would have
to be educated in, or develop substantially equivalent processes
for, production of our product candidates after receipt of FDA
approval.</P>
<P CLASS="LRH" STYLE=
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S-24</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">We anticipate continued
reliance on third parties for manufacturing and marketing, if we
are successful in obtaining marketing approval from the FDA and
other regulatory agencies for any of our product candidates. If we
are not able to secure favorable arrangements with such third
parties, our business and financial condition would be harmed, and
our commercialization of any of our product candidates may be
halted, delayed or made less profitable if those third parties fail
to obtain such approvals, fail to provide us with sufficient
quantities of product or fail to do so at acceptable quality levels
or prices.</FONT></P>
<P CLASS="Textflush" STYLE=
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To date, our product candidates have been manufactured in small
quantities for preclinical and clinical testing by third-party
manufacturers. If the FDA or other regulatory agencies approve any
of our product candidates for commercial sale, we expect that we
would continue to rely, at least initially, on third-party
specialized manufacturers to produce commercial quantities of
approved products. These manufacturers may not be able to
successfully increase the manufacturing capacity for any approved
product in a timely or economic manner, or at all. Significant
scale-up of manufacturing may require additional validation
studies, which the FDA must review and approve. If third party
manufacturers are unable to successfully increase the manufacturing
capacity for a product candidate, or we are unable to establish our
own manufacturing capabilities, the commercial launch of any
approved products may be delayed or there may be a shortage in
supply, which in turn could have a material adverse effect on our
business.</P>
<P CLASS="Textflush" STYLE=
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In addition, the facilities used by our contract manufacturers to
manufacture our product candidates must be approved by the FDA
pursuant to inspections that will be conducted after we submit a
BLA to the FDA. We do not control the manufacturing process of, and
are completely dependent on, our contract manufacturing partners
for compliance with cGMPs. If our contract manufacturers cannot
successfully manufacture material that conforms to our
specifications and the strict regulatory requirements of the FDA or
other regulatory authorities, they will not be able to secure
and/or maintain regulatory approval for their manufacturing
facilities. If the FDA or a comparable foreign regulatory authority
does not approve these facilities for the manufacture of our
product candidates or if it withdraws any such approval in the
future, we may need to find alternative manufacturing facilities,
which would significantly impact our ability to develop, obtain
regulatory approval for or market our product candidates, if
approved.</P>
<P CLASS="Textflush" STYLE=
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We also intend to partner with larger pharmaceutical companies for
the commercialization of any of our product candidates that are
approved. In connection with our efforts to commercialize our
product candidates, we will seek to secure favorable arrangements
with third parties to distribute, promote, market and sell them. If
we are not able to secure favorable commercial terms or
arrangements with third parties for distribution, marketing,
promotion and sales of our product candidates, we may have to
retain promotional and marketing rights and seek to develop the
commercial resources necessary to promote or co-promote or
co-market certain or all of our product candidates to the
appropriate channels of distribution in order to reach the specific
medical market that we are targeting. We may not be able to enter
into any partnering arrangements on this or any other basis. If we
are not able to secure favorable partnering arrangements, or are
unable to develop the appropriate resources necessary for the
commercialization of our product candidates, our business and
financial condition could be harmed. In addition, we will have to
hire additional employees or consultants, since our current
employees have limited experience in these areas. Sufficient
employees with relevant skills may not be available to us. Any
increase in the number of our employees would increase our expense
level, and could have an adverse effect on our financial
position.</P>
<P CLASS="Textflush" STYLE=
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In addition, we, or our potential commercial partners, may not
successfully introduce our product candidates or they may not
achieve acceptance by patients, health care providers and insurance
companies. Further, it is possible that we may not be able to
secure arrangements to manufacture, market, distribute, promote and
sell our product candidates at favorable commercial terms that
would permit us to make a profit. To the extent that corporate
partners conduct clinical trials, we may not be able to control the
design and conduct of these clinical trials.</P>
<P CLASS="RRH" STYLE=
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S-25</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">We may have conflicts
with our partners that could delay or prevent the development or
commercialization of our product candidates.</FONT></P>
<P CLASS="Textflush" STYLE=
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We may have conflicts with our partners, such as conflicts
concerning the interpretation of preclinical or clinical data, the
achievement of milestones, the interpretation of contractual
obligations, payments for services, development obligations or the
ownership of intellectual property developed during our
collaboration. If any conflicts arise with any of our partners,
such partner may act in a manner that is adverse to our best
interests. Any such disagreement could result in one or more of the
following, each of which could delay or prevent the development or
commercialization of our product candidates, and in turn prevent us
from generating revenues: unwillingness on the part of a partner to
pay us milestone payments or royalties we believe are due under a
collaboration; uncertainty regarding ownership of intellectual
property rights arising from our collaborative activities, which
could prevent us from entering into additional collaborations;
unwillingness by the partner to cooperate in the development or
manufacture of the product, including providing us with product
data or materials; unwillingness on the part of a partner to keep
us informed regarding the progress of its development and
commercialization activities or to permit public disclosure of the
results of those activities; initiating litigation or alternative
dispute resolution options by either party to resolve the dispute;
or attempts by either party to terminate the agreement.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Upon commercialization
of our product candidates, we may be dependent on third parties to
market, distribute and sell them.</FONT></P>
<P CLASS="Textflush" STYLE=
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Our ability to generate revenues may be dependent upon the sales
and marketing efforts of any future co-marketing partners and
third-party distributors. At this time, we have not entered into an
agreement with any commercialization partner and only plan to do so
after the successful completion of Phase 2 clinical trials and
prior to commercialization. If we fail to reach an agreement with
any commercialization partner, or if upon reaching such an
agreement that partner fails to sell a large volume of our
products, it may have a negative impact on our business, financial
condition and results of operations.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Our product candidates
will face significant competition in the markets for them, and if
they are unable to compete successfully, our business will
suffer.</FONT></P>
<P CLASS="Textflush" STYLE=
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Our product candidates face, and will continue to face, intense
competition from large pharmaceutical companies, as well as
academic and research institutions. We compete in an industry that
is characterized by (i) rapid technological change, (ii) evolving
industry standards, (iii) emerging competition and (iv) new product
introductions. Our competitors have existing products and
technologies that will compete with our product candidates and
technologies and may develop and commercialize additional products
and technologies that will compete with our product candidates and
technologies. Because several competing companies and institutions
have greater financial resources than us, they may be able to (i)
provide broader services and product lines, (ii) make greater
investments in research and development, or R&amp;D, and (iii)
carry on broader R&amp;D initiatives. Our competitors also have
greater development capabilities than we do and have substantially
greater experience in undertaking preclinical and clinical testing
of product candidates, obtaining regulatory approvals, and
manufacturing and marketing pharmaceutical products. They also have
greater name recognition and better access to customers than us.
Our chief competitors include companies such as Bayer AG,
GlaxoSmithKline Plc and Spectrum Pharmaceuticals, Inc. and
others.</P>
<P CLASS="LRH" STYLE=
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S-26</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">If side effects are
identified during the time our product candidates are in
development or after they are approved and on the market, we may
choose to or be required to perform lengthy additional clinical
trials, discontinue development of the affected product candidate,
change the labeling of any such products, or withdraw or recall any
such products from the market, any of which would hinder or
preclude our ability to generate revenues.</FONT></P>
<P CLASS="Textflush" STYLE=
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Undesirable side effects caused by our product candidates could
cause us or regulatory authorities to interrupt, delay or halt
clinical trials and could result in a more restrictive label or the
delay or denial of regulatory approval by the FDA or other
comparable foreign authorities. The drug-related side effects could
affect patient recruitment or the ability of enrolled patients to
complete the trial or result in potential product liability claims.
Any of these occurrences may harm our business, financial condition
and prospects significantly. Even if any of our product candidates
receives marketing approval, as greater numbers of patients use a
product following its approval, an increase in the incidence of
side effects or the incidence of other post-approval problems that
were not seen or anticipated during pre-approval clinical trials
could result in a number of potentially significant negative
consequences, including:</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> regulatory
authorities may withdraw their approval of the product;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> regulatory
authorities may require the addition of labeling statements, such
as warnings or contraindications;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> we may be required
to change the way the product is administered, conduct additional
clinical trials or change the labeling of the product;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> we may elect, or we
may be required, to recall or withdraw product from the market;</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> we could be sued and
held liable for harm caused to patients; and</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> our reputation may
suffer.</P>
<P CLASS="Textflush" STYLE=
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Any of these events could substantially increase the costs and
expenses of developing, commercializing and marketing any such
product candidates or could harm or prevent sales of any approved
products.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Our business depends
upon securing and protecting critical intellectual
property.</FONT></P>
<P CLASS="Textflush" STYLE=
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Our commercial success will depend in part on our obtaining and
maintaining patent, trade secret, copyright and trademark
protection of our technologies in the United States and other
jurisdictions, as well as successfully enforcing this intellectual
property and defending this intellectual property against
third-party challenges. We will only be able to protect our
technologies from unauthorized use by third parties to the extent
that valid and enforceable intellectual property protection, such
as patents or trade secrets law, cover them. In particular, we
place considerable emphasis on obtaining patent and trade secret
protection for significant new technologies, products and
processes. Furthermore, the degree of future protection of our
proprietary rights is uncertain because legal means afford only
limited protection and may not adequately protect our rights or
permit us to gain or keep our competitive advantage. Moreover, the
degree of future protection of our proprietary rights is uncertain
for product candidates that are currently in the early stages of
development because we cannot predict which of these product
candidates will ultimately reach the commercial market or whether
the commercial versions of these product candidates will
incorporate proprietary technologies.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Our patent position is
highly uncertain and involves complex legal and factual
questions.</FONT></P>
<P CLASS="Textflush" STYLE=
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Accordingly, we cannot predict the breadth of claims that may be
allowed or enforced under our patents or in third-party patents.
For example, we or our licensors might not have been the first to
make the inventions covered by each of our pending patent
applications and issued patents; we or our licensors might not have
been the first to file patent applications for these inventions;
others may independently develop similar or alternative
technologies or duplicate any of our technologies; it is possible
that none of our pending patent applications</P>
<P CLASS="RRH" STYLE=
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S-27</P>
<P CLASS="Textflush" STYLE=
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or the pending patent applications of our licensors will result in
issued patents; our issued patents and issued patents of our
licensors may not provide a basis for commercially viable
technologies, or may not provide us with any competitive
advantages, or may be challenged and invalidated by third parties;
and, we may not develop additional proprietary technologies that
are patentable.</P>
<P CLASS="Textflush" STYLE=
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As a result, our owned and licensed patents may not be valid and we
may not be able to obtain and enforce patents and to maintain trade
secret protection for the full commercial extent of our technology.
The extent to which we are unable to do so could materially harm
our business.</P>
<P CLASS="Textflush" STYLE=
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We or our licensors have applied for and will continue to apply for
patents for certain products. Such applications may not result in
the issuance of any patents, and any patents now held or that may
be issued may not provide us with adequate protection from
competition. Furthermore, it is possible that patents issued or
licensed to us may be challenged successfully. In that event, if we
have a preferred competitive position because of such patents, such
preferred position would be lost. If we are unable to secure or to
continue to maintain a preferred position, we could become subject
to competition from the sale of generic products. Failure to
receive, inability to protect, or expiration of our patents for
medical use, manufacture, conjugation and labeling of Ac-225, the
antibodies that we license from third parties, or subsequent
related filings, would adversely affect our business and
operations.</P>
<P CLASS="Textflush" STYLE=
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Patents issued or licensed to us may be infringed by the products
or processes of others. The cost of enforcing our patent rights
against infringers, if such enforcement is required, could be
significant, and we do not currently have the financial resources
to fund such litigation. Further, such litigation can go on for
years and the time demands could interfere with our normal
operations. There has been substantial litigation and other
proceedings regarding patent and other intellectual property rights
in the pharmaceutical industry. We may become a party to patent
litigation and other proceedings. The cost to us of any patent
litigation, even if resolved in our favor, could be substantial.
Some of our competitors may be able to sustain the costs of such
litigation more effectively than we can because of their
substantially greater financial resources. Litigation may also
absorb significant management time.</P>
<P CLASS="Textflush" STYLE=
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Unpatented trade secrets, improvements, confidential know-how and
continuing technological innovation are important to our scientific
and commercial success. Although we attempt to and will continue to
attempt to protect our proprietary information through reliance on
trade secret laws and the use of confidentiality agreements with
our partners, collaborators, employees and consultants and other
appropriate means, these measures may not effectively prevent
disclosure of our proprietary information, and, in any event,
others may develop independently, or obtain access to, the same or
similar information.</P>
<P CLASS="Textflush" STYLE=
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Certain of our patent rights are licensed to us by third parties.
If we fail to comply with the terms of these license agreements,
our rights to those patents may be terminated, and we will be
unable to conduct our business.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">If we are found to be
infringing on patents or trade secrets owned by others, we may be
forced to cease or alter our product development efforts, obtain a
license to continue the development or sale of our products, and/or
pay damages.</FONT></P>
<P CLASS="Textflush" STYLE=
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Our manufacturing processes and potential products may violate
proprietary rights of patents that have been or may be granted to
competitors, universities or others, or the trade secrets of those
persons and entities. As the pharmaceutical industry expands and
more patents are issued, the risk increases that our processes and
potential products may give rise to claims that they infringe the
patents or trade secrets of others. These other persons could bring
legal actions against us claiming damages and seeking to enjoin
clinical testing, manufacturing and marketing of the affected
product or process. If any of these actions are successful, in
addition to any potential liability for damages, we could be
required to obtain a license in order to continue to conduct
clinical tests, manufacture or market the affected product or use
the affected process. Required licenses may not be available</P>
<P CLASS="LRH" STYLE=
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S-28</P>
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on acceptable terms, if at all, and the results of litigation are
uncertain. If we become involved in litigation or other
proceedings, it could consume a substantial portion of our
financial resources and the efforts of our personnel.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Our ability to protect
and enforce our patents does not guarantee that we will secure the
right to commercialize our patents.</FONT></P>
<P CLASS="Textflush" STYLE=
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A patent is a limited monopoly right conferred upon an inventor,
and his successors in title, in return for the making and
disclosing of a new and non-obvious invention. This monopoly is of
limited duration but, while in force, allows the patent holder to
prevent others from making and/or using its invention. While a
patent gives the holder this right to exclude others, it is not a
license to commercialize the invention where other permissions may
be required for commercialization to occur. For example, a drug
cannot be marketed without the appropriate authorization from the
FDA, regardless of the existence of a patent covering the product.
Further, the invention, even if patented itself, cannot be
commercialized if it infringes the valid patent rights of another
party.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">We rely on
confidentiality agreements to protect our trade secrets. If these
agreements are breached by our employees or other parties, our
trade secrets may become known to our competitors.</FONT></P>
<P CLASS="Textflush" STYLE=
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We rely on trade secrets that we seek to protect through
confidentiality agreements with our employees and other parties. If
these agreements are breached, our competitors may obtain and use
our trade secrets to gain a competitive advantage over us. We may
not have any remedies against our competitors and any remedies that
may be available to us may not be adequate to protect our business
or compensate us for the damaging disclosure. In addition, we may
have to expend resources to protect our interests from possible
infringement by others.</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">The use of hazardous
materials, including radioactive and biological materials, in our
research and development efforts imposes certain compliance costs
on us and may subject us to liability for claims arising from the
use or misuse of these materials.</FONT></P>
<P CLASS="Textflush" STYLE=
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Our research, development and manufacturing activities involves the
controlled use of hazardous materials, including chemicals,
radioactive and biological materials, such as radioactive isotopes.
We are subject to federal, state, local and foreign environmental
laws and regulations governing, among other matters, the handling,
storage, use and disposal of these materials and some waste
products. We cannot completely eliminate the risk of contamination
or injury from these materials and we could be held liable for any
damages that result, which could exceed our financial resources. We
currently maintain insurance coverage for injuries resulting from
the hazardous materials we use; however, future claims may exceed
the amount of our coverage. Also, we do not have insurance coverage
for pollution cleanup and removal. Currently the costs of complying
with such federal, state, local and foreign environmental
regulations are not significant, and consist primarily of waste
disposal expenses. However, they could become expensive, and
current or future environmental laws or regulations may impair our
research, development, production and commercialization
efforts.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">We may undertake
international operations, which will subject us to risks inherent
with operations outside of the United States.</FONT></P>
<P CLASS="Textflush" STYLE=
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Although we do not have any foreign operations at this time, we
intend to seek market clearances in foreign markets that we believe
will generate significant opportunities. However, even with the
cooperating of a commercialization partner, conducting drug
development in foreign countries involves inherent risks,
including, but not limited to difficulties in staffing, funding and
managing foreign operations; unexpected changes in regulatory
requirements; export restrictions; tariffs and other trade
barriers; difficulties in protecting, acquiring, enforcing and
litigating intellectual property rights; fluctuations in currency
exchange rates; and potentially adverse tax consequences.</P>
<P CLASS="RRH" STYLE=
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S-29</P>
<P CLASS="Textflush" STYLE=
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If we were to experience any of the difficulties listed above, or
any other difficulties, any international development activities
and our overall financial condition may suffer and cause us to
reduce or discontinue our international development and
registration efforts.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">We may not be successful
in hiring and retaining key employees.</FONT></P>
<P CLASS="Textflush" STYLE=
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Our future operations and successes depend in large part upon the
continued service of key members of our senior management team whom
we are highly dependent upon to manage our business. If any member
of our current senior management terminates his or her employment
with us, such a departure may have a material adverse effect on our
business.</P>
<P CLASS="Textflush" STYLE=
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Our future success also depends on our ability to identify,
attract, hire or engage, retain and motivate other well-qualified
managerial, technical, clinical and regulatory personnel. There can
be no assurance that such professionals will be available in the
market, or that we will be able to retain existing professionals or
meet or continue to meet their compensation requirements.
Furthermore, the cost base in relation to such compensation, which
may include equity compensation, may increase significantly, which
could have a material adverse effect on us. Failure to establish
and maintain an effective management team and work force could
adversely affect our ability to operate, grow and manage our
business.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">We may be subject,
directly or indirectly, to federal and state healthcare fraud and
abuse laws, false claims laws, and health information privacy and
security laws. If we are unable to comply, or have not fully
complied, with such laws, we could face substantial
penalties.</FONT></P>
<P CLASS="Textflush" STYLE=
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If we obtain FDA approval for any of our product candidates and
begin commercializing those products in the United States, our
operations may be directly, or indirectly through our customers,
subject to various federal and state fraud and abuse laws,
including, without limitation, the federal Anti-Kickback Statute,
the federal False Claims Act, and physician sunshine laws and
regulations. These laws may impact, among other things, our
proposed sales, marketing, and education programs. In addition, we
may be subject to patient privacy regulation by both the federal
government and the states in which we conduct our business. The
laws that may affect our ability to operate include:</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the federal
Anti-Kickback Statute, which prohibits, among other things, persons
from knowingly and willfully soliciting, receiving, offering or
paying remuneration, directly or indirectly, to induce, or in
return for, the purchase or recommendation of an item or service
reimbursable under a federal healthcare program, such as the
Medicare and Medicaid programs;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> federal civil and
criminal false claims laws and civil monetary penalty laws, which
prohibit, among other things, individuals or entities from
knowingly presenting, or causing to be presented, claims for
payment from Medicare, Medicaid, or other third-party payors that
are false or fraudulent;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the federal Health
Insurance Portability and Accountability Act of 1996, or HIPAA,
which created federal criminal statutes that prohibit executing a
scheme to defraud any healthcare benefit program and making false
statements relating to healthcare matters;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> HIPAA, as amended by
the Health Information Technology and Clinical Health Act, or
HITECH, and its implementing regulations, which imposes certain
requirements relating to the privacy, security, and transmission of
individually identifiable health information;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the federal
physician sunshine requirements under PPACA, which require certain
manufacturers of drugs, devices, biologics, and medical supplies to
report annually to the U.S. Department of Health and Human Services
information related to payments and other transfers of value to
physicians, other healthcare providers, and teaching hospitals, and
ownership and investment interests held by physicians and other
healthcare providers and their immediate family members and
applicable group purchasing organizations;</P>
<P CLASS="LRH" STYLE=
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S-30</P>
<P CLASS="BLm" STYLE=
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<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> state law
equivalents of each of the above federal laws, such as
anti-kickback and false claims laws that may apply to items or
services reimbursed by any third-party payor, including commercial
insurers; state laws that require pharmaceutical companies to
comply with the industry&rsquo;s voluntary compliance guidelines
and the relevant compliance guidance promulgated by the federal
government, or otherwise restrict payments that may be made to
healthcare providers and other potential referral sources; state
laws that require drug manufacturers to report information related
to payments and other transfers of value to physicians and other
healthcare providers or marketing expenditures; and state laws
governing the privacy and security of health information in certain
circumstances, many of which differ from each other in significant
ways, thus complicating compliance efforts.</P>
<P CLASS="Textflush" STYLE=
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Because of the breadth of these laws and the narrowness of the
statutory exceptions and safe harbors available, it is possible
that some of our business activities could be subject to challenge
under one or more of such laws. In addition, recent health care
reform legislation has strengthened these laws. For example, the
PPACA, among other things, amends the intent requirement of the
federal anti-kickback and criminal healthcare fraud statutes. A
person or entity no longer needs to have actual knowledge of this
statute or specific intent to violate it to have committed a
violation. Moreover, the PPACA provides that the government may
assert that a claim including items or services resulting from a
violation of the federal Anti-Kickback Statute constitutes a false
or fraudulent claim for purposes of the False Claims Act.</P>
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If our operations are found to be in violation of any of the laws
described above or any other governmental regulations that apply to
us, we may be subject to penalties, including civil and criminal
penalties, damages, fines, exclusion from participation in
government health care programs, such as Medicare and Medicaid,
imprisonment, and the curtailment or restructuring of our
operations, any of which could adversely affect our ability to
operate our business and our results of operations.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Healthcare legislative
reform measures may have a material adverse effect on our business
and results of operations.</FONT></P>
<P CLASS="Textflush" STYLE=
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In March 2010, former President Obama signed the Patient Protection
and Affordable Care Act, as amended by the Health Care and
Education Reconciliation Act (collectively, &ldquo;PPACA&rdquo;),
which makes changes that are expected to significantly impact the
pharmaceutical industries. One of the principal aims of the PPACA
as currently enacted is to expand health insurance coverage to
approximately 32 million Americans who are currently uninsured. The
consequences of this significant coverage expansion on the sales of
our products, once they are developed, are unknown and
speculative.</P>
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The PPACA contains a number of provisions designed to generate the
revenues necessary to fund the coverage expansions among other
things. This includes fees and taxes on manufacturers of certain
branded prescription drugs, an abbreviated pathway for approval of
biosimilar products, a new methodology by which rebates owed by
manufacturers under the Medicaid Drug Rebate Program are calculated
for drugs that are inhaled, infused, instilled, implanted or
injected, increases in the minimum Medicaid rebates owed by
manufacturers under the Medicaid Drug Rebate Program and an
extension of the rebate program to individuals enrolled in Medicaid
managed care organizations, and a new Medicare Part D coverage gap
discount program, in which manufacturers must agree to offer 50%
point-of-sale discounts off negotiated prices of applicable brand
drugs to eligible beneficiaries during their coverage gap period,
as a condition for the manufacturer&rsquo;s outpatient drugs to be
covered under Medicare Part D.</P>
<P CLASS="Textflush" STYLE=
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<FONT STYLE="letter-spacing: -.1pt;">The PPACA provisions on
comparative clinical effectiveness research extend the initiatives
of the American Recovery and Reinvestment Act of 2009, also known
as the stimulus package, which included $1.1 billion in funding to
study the comparative effectiveness of health care treatments and
strategies. This stimulus funding was designated for, among other
things, conducting, supporting or synthesizing research that
compares and evaluates the risks and benefits, clinical outcomes,
effectiveness and appropriateness of products. The PPACA
appropriates additional funding to comparative clinical
effectiveness research. Although Congress has indicated that this
funding</FONT></P>
<P CLASS="RRH" STYLE=
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S-31</P>
<P CLASS="Textflush" STYLE=
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<FONT STYLE="letter-spacing: -.1pt;">is intended to improve the
quality of health care, it remains unclear how the research will
impact current Medicare coverage and reimbursement or how new
information will influence other third-party payor policies. There
is a risk that President Donald Trump&rsquo;s administration could
repeal or amend the PPACA, and it is uncertain what the effect of
such repeal or amendments would have on our business, financial
condition and results of operations.</FONT></P>
<P CLASS="Textflush" STYLE=
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In addition, other legislative changes have been proposed and
adopted since the PPACA was enacted. On August 2, 2011, former
President Obama signed into law the Budget Control Act of 2011,
which, among other things, creates the Joint Select Committee on
Deficit Reduction to recommend proposals in spending reductions to
Congress. The Joint Select Committee did not achieve a targeted
deficit reduction of at least $1.2 trillion for the years 2013
through 2021, which threatened to trigger the legislation&rsquo;s
automatic reduction to several government programs. This includes
aggregate reductions of Medicare payments to providers of 2% per
fiscal year, which went into effect in April 2013 and will stay in
effect through 2024 unless additional Congressional action is
taken. On January 2, 2013, Congress passed and former President
Obama signed the American Taxpayer Relief Act of 2012 which, among
other things, further reduced Medicare payments to certain
providers, including physicians, hospitals and cancer treatment
centers. We expect that the PPACA, as well as other federal or
state health care reform measures that may be adopted in the
future, could have a material adverse effect on our industry
generally and our ability to successfully commercialize our
products or could limit or eliminate our spending on certain
development projects. The taxes imposed by the PPACA and the
expansion in the government&rsquo;s role in the U.S. healthcare
industry may result in decreased profits to us, lower reimbursement
by payors for our products, and/or reduced medical procedure
volumes, all of which may adversely affect our business, financial
condition and results of operations.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Managing our growth as
we expand operations may strain our resources.</FONT></P>
<P CLASS="Textflush" STYLE=
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We expect to need to grow rapidly in order to support additional,
larger, and potentially international, pivotal clinical trials of
our product candidates, which will place a significant strain on
our financial, managerial and operational resources. In order to
achieve and manage growth effectively, we must continue to improve
and expand our operational and financial management capabilities.
Moreover, we will need to increase staffing and to train, motivate
and manage our employees. All of these activities will increase our
expenses and may require us to raise additional capital sooner than
expected. Failure to manage growth effectively could materially
harm our business, financial condition or results of
operations.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">We may expand our
business through the acquisition of rights to new product
candidates that could disrupt our business, harm our financial
condition and may also dilute current stockholders&rsquo; ownership
interests in our company.</FONT></P>
<P CLASS="Textflush" STYLE=
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Our business strategy includes expanding our products and
capabilities, and we may seek acquisitions of product candidates,
antibodies or technologies to do so. Acquisitions involve numerous
risks, including substantial cash expenditures; potentially
dilutive issuance of equity securities; incurrence of debt and
contingent liabilities, some of which may be difficult or
impossible to identify at the time of acquisition; difficulties in
assimilating acquired technologies or the operations of the
acquired companies; diverting our management&rsquo;s attention away
from other business concerns; risks of entering markets in which we
have limited or no direct experience; and the potential loss of our
key employees or key employees of the acquired companies.</P>
<P CLASS="Textflush" STYLE=
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We can make no assurances that any acquisition will result in
short-term or long-term benefits to us. We may incorrectly judge
the value or worth of an acquired product, company or business. In
addition, our future success would depend in part on our ability to
manage the rapid growth associated with some of these acquisitions.
We cannot assure that we will be able to make the combination of
our business with that of acquired products, businesses or
companies work or be successful. Furthermore, the development or
expansion of our business or any acquired products, business or
companies may require a substantial capital investment by us. We
may not have these necessary funds or they might not be available
to us on acceptable terms or at all. We may also seek to raise
funds by selling shares of our preferred or common stock, which
could dilute our current stockholder&rsquo;s ownership
interest.</P>
<P CLASS="LRH" STYLE=
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S-32</P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bolditalic" STYLE=
"mso-style-name: bolditalic; font-weight: bold; font-style: italic;">
Risks Related to Ownership of Our Common Stock</FONT></P>
<P CLASS="H3" STYLE=
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<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">The sale of securities
by us in any equity or debt financing could result in dilution to
our existing stockholders and have a material adverse effect on our
earnings.</FONT></P>
<P CLASS="Textflush" STYLE=
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We believe we have sufficient cash on hand to finance research and
development and to cover our ongoing working capital needs for the
next 12 months. We have financed our operations primarily through
sales of stock and the issuance of convertible promissory notes. It
is likely that during the next twelve months we will seek to raise
additional capital through the sales of stock and/or issuance of
convertible debentures in order to expand our level of operations
to continue our research and development efforts.</P>
<P CLASS="Textflush" STYLE=
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Any sale of common stock by us in a future offering could result in
dilution to the existing stockholders as a direct result of our
issuance of additional shares of our capital stock. In addition,
our business strategy may include expansion through internal growth
or by establishing strategic relationships with targeted customers
and vendor. In order to do so, or to finance the cost of our other
activities, we may issue additional equity securities that could
dilute our stockholders&rsquo; stock ownership. We may also assume
additional debt and incur impairment losses related to goodwill and
other tangible assets if we acquire another company and this could
negatively impact our earnings and results of operations.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Our Common Stock has
been considered a Penny Stock.</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
During the fiscal year 2013 and through the first quarter of 2017
our common stock has or had been a penny stock, therefore, when our
stock is considered a penny stock trading in our securities may be
subject to penny stock considerations. Broker-dealer practices in
connection with transactions in &ldquo;penny stocks&rdquo; are
regulated by certain penny stock rules adopted by the SEC.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Penny stocks generally are equity securities with a price of less
than $5.00 (other than securities registered on certain national
securities exchanges or quoted on the NYSE American system). Penny
stock rules require a broker-dealer, prior to a transaction in a
penny stock not otherwise exempt from the rules, to deliver a
standardized risk disclosure document that provides information
about penny stocks and the risks in the penny stock market. The
broker-dealer also must provide the customer with current bid and
offer quotations for the penny stock, the compensation of the
broker-dealer and its salesperson in the transaction, and monthly
account statements showing the market value of each penny stock
held in the customer&rsquo;s account. The broker-dealer must also
make a special written determination that the penny stock is a
suitable investment for the purchaser and receive the
purchaser&rsquo;s written agreement to the transaction. These
requirements may have the effect of reducing the level of trading
activity, if any, in the secondary market for a security that
becomes subject to the penny stock rules. The additional burdens
imposed upon broker-dealers by such requirements may discourage
broker-dealers from effecting transactions in our securities, which
could severely limit their market price and liquidity of our
securities. These requirements may restrict the ability of
broker-dealers to sell our common stock and may affect your ability
to resell our common stock.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Our Common Stock is
thinly traded, so you may be unable to sell at or near asking
prices or at all if you want to sell your shares.</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Trading volume in our common stock has been limited at times. This
may inhibit investment by major institutional investment funds,
including mutual funds, as well as individual investors. A higher
volume trading market may never develop or be maintained. Active
trading markets generally result in lower price volatility and more
efficient execution of buy and sell orders. Absence of an active
trading market reduces the liquidity of the shares traded
therein.</P>
<P CLASS="RRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-33</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Our Common Stock is
subject to price volatility unrelated to our operations.</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The trading volume of our common stock has been and may continue to
be extremely limited and sporadic. As a result of such trading
activity, the quoted price for our common stock on the NYSE
American may not necessarily be a reliable indicator of its fair
market value.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We expect the market price of our Common Stock to fluctuate
substantially due to a variety of factors, including market
perception of our ability to achieve our planned growth, quarterly
operating results of other companies in the same industry, trading
volume in our common stock, changes in general conditions in the
economy and the financial markets or other developments affecting
our competitors or us. This volatility has had a significant effect
on the market price of securities issued by many companies for
reasons unrelated to their operating performance and could have the
same effect on our common stock.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Because we do not intend
to pay dividends, stockholders will benefit from an investment in
our Common Stock only if it appreciates in value.</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We have never declared or paid any cash dividends on our Preferred
Stock or Common Stock. For the foreseeable future, it is expected
that earnings, if any, generated from our operations will be used
to finance the growth of our business, and that no dividends will
be paid to holders of our Preferred Stock or Common Stock. As a
result, the success of an investment in our Preferred Stock or
Common Stock will depend upon any future appreciation in its value.
There is no guarantee that our Preferred Stock or Common Stock will
appreciate in value.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Certain provisions of
our Certificate of Incorporation and Bylaws and Delaware law make
it more difficult for a third party to acquire us and make a
takeover more difficult to complete, even if such a transaction
were in the stockholders&rsquo; interest.</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Provisions of our certificate of incorporation and bylaws may delay
or discourage transactions involving an actual or potential change
in our control or change in our management, including transactions
in which stockholders might otherwise receive a premium for their
shares, or transactions that our stockholders might otherwise deem
to be in their best interests. Therefore, these provisions could
adversely affect the price of our stock. Among other things, the
certificate of incorporation and bylaws:</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> provide that the
authorized number of directors may be changed by resolution of the
board of directors;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> provide that all
vacancies, including newly-created directorships, may, except as
otherwise required by law, be filled by the affirmative vote of a
majority of directors then in office, even if less than a
quorum;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> divide the board of
directors into three classes;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> provide that
stockholders seeking to present proposals before a meeting of
stockholders or to nominate candidates for election as directors at
a meeting of stockholders must provide notice in writing in a
timely manner, and meet specific requirements as to the form and
content of a stockholder&rsquo;s notice;</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
In addition, we are governed by Section 203 of the Delaware General
Corporation Law. In general, Section 203 prohibits a public
Delaware corporation from engaging in a &ldquo;business
combination&rdquo; with an &ldquo;interested stockholder&rdquo; for
a period of three years after the date of the transaction in which
the person became an interested stockholder, unless the business
combination is approved in a prescribed manner. A &ldquo;business
combination&rdquo; includes mergers, asset sales or other
transactions resulting in a financial benefit to the stockholder.
An &ldquo;interested stockholder&rdquo; is a person who, together
with affiliates and associates, owns, or within three years, did
own, 15% or more of the corporation&rsquo;s outstanding voting
stock. These provisions may have the effect of delaying, deferring
or preventing a change in our control.</P>
<P CLASS="LRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-34</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Compliance with the
reporting requirements of federal securities laws is
expensive.</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We are subject to the information and reporting requirements of the
Exchange Act and other federal securities laws, and the compliance
obligations of the Sarbanes-Oxley Act. The costs of preparing and
filing annual and quarterly reports and other information with the
SEC and furnishing audited reports to stockholders are substantial.
In addition, we will incur substantial expenses in connection with
the preparation of registration statements and related documents
with respect to the registration of resale of the Common Stock.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Applicable regulatory
requirements, including those contained in and issued under the
Sarbanes-Oxley Act, may make it difficult for us to retain or
attract qualified officers and directors, which could adversely
affect the management of its business and its ability to obtain or
retain listing of our Common Stock.</FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 11.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We may be unable to attract and retain those qualified officers,
directors and members of board committees required to provide for
effective management because of the rules and regulations that
govern publicly held companies, including, but not limited to,
certifications required by principal executive officers. The
enactment of the Sarbanes-Oxley Act has resulted in the issuance of
a series of related rules and regulations and the strengthening of
existing rules and regulations by the SEC, as well as the adoption
of new and more stringent rules by the stock exchanges. The
perceived increased personal risk associated with these changes may
deter qualified individuals from accepting roles as directors and
executive officers.</P>
<P CLASS="Textflush" STYLE=
'margin-top: 11.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Further, some of these changes heighten the requirements for board
or committee membership, particularly with respect to an
individual&rsquo;s independence from the corporation and level of
experience in finance and accounting matters. We may have
difficulty attracting and retaining directors with the requisite
qualifications. If we are unable to attract and retain qualified
officers and directors, the management of our business and our
ability to obtain or retain listing of our shares of Common Stock
on any stock exchange (assuming we elect to seek and are successful
in obtaining such listing) could be adversely affected.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">If we fail to maintain
an effective system of internal controls, we may not be able to
accurately report our financial results or detect fraud. Investors
could lose confidence in our financial reporting and this may
decrease the trading price of our Common Stock.</FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We must maintain effective internal controls to provide reliable
financial reports and detect fraud. We have previously identified
material weaknesses in our internal control over financial
reporting because we did not have sufficient written policies and
procedures for accounting and financial reporting and we did not
have effective controls over period end financial disclosures and
reporting processes. During 2014, our management remediated these
previously identified material weaknesses. In future periods, we
may identify additional deficiencies in our system of internal
controls over financial reporting that may require remediation.
There can be no assurances that any such future deficiencies
identified may not be material weaknesses that would be required to
be reported in future periods. Failure to maintain an effective
system of internal controls could harm our operating results and
cause investors to lose confidence in our reported financial
information. Any such loss of confidence would have a negative
effect on the trading price of our Common Stock.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">The price of our common
stock may become volatile, which could lead to losses by investors
and costly securities litigation.</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT STYLE="letter-spacing: -.05pt;">The trading price of our
Common Stock may be highly volatile and could fluctuate in response
to factors such as:</FONT></P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> actual or
anticipated variations in our operating results;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> announcements of
developments by us or our competitors;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the timing of IND
and/or BLA approval, the completion and/or results of our clinical
trials;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> regulatory actions
regarding our products;</P>
<P CLASS="RRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-35</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> announcements by us
or our competitors of significant acquisitions, strategic
partnerships, joint ventures or capital commitments;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> adoption of new
accounting standards affecting our industry;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> additions or
departures of key personnel;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> introduction of new
products by us or our competitors;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> sales of our Common
Stock or other securities in the open market; and</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> other events or
factors, many of which are beyond our control.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT STYLE="letter-spacing: -.1pt;">The stock market is subject to
significant price and volume fluctuations. In the past, following
periods of volatility in the market price of a company&rsquo;s
securities, securities class action litigation has often been
initiated against such a company. Litigation initiated against us,
whether or not successful, could result in substantial costs and
diversion of our management&rsquo;s attention and Company
resources, which could harm our business and financial
condition.</FONT></P>
<P CLASS="H2" STYLE=
'mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bolditalic" STYLE=
"mso-style-name: bolditalic; font-weight: bold; font-style: italic;">
Additional Risks Relating to this Offering</FONT></P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Our management team may
invest or spend the proceeds of this offering in ways with which
you may not agree or in ways which may not yield a significant
return.</FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 11.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Our management will have broad discretion over the use of proceeds
from this offering. We currently intend to use the net proceeds
from the sale of securities offered by this prospectus to fund
clinical development of Iomab-B, Actimab-A, Actimab-M, our alpha
particle technology platform and for general corporate purposes.
However, our management will have broad discretion in the
application of the net proceeds from this offering and could spend
the proceeds in ways that do not improve our results of operations
or enhance the value of our common stock. The failure by management
to apply these funds effectively could result in financial losses
that could have a material adverse effect on our business, cause
the price of our common stock to decline and delay the development
of our product candidates.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Purchasers in this
offering will likely experience immediate and substantial dilution
in the book value of their investment.</FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 11.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT STYLE="letter-spacing: -.1pt;">Because the combined public
offering price per share and related warrant is substantially
higher than the book value per share of our common stock, you will
suffer substantial dilution in the net tangible book value of the
common stock you purchase in this offering. After giving effect to
the sale by us of &#8199;&#8199;&#8199; shares of our common stock
and &#8199;&#8199;&#8199;&#8199;&#8199; warrants in this offering
at a combined public offering price of $ &#8199;&#8199;&#8199; per
share and related warrant, and after deducting the underwriting
discount and estimated offering expenses payable by us and
attributing no value to the warrants sold in this offering, you
will suffer immediate and substantial dilution of <FONT CLASS=
"nobreak" STYLE="mso-style-name: nobreak;">$ &#8199;&#8199;&#8199;
per share</FONT> in the net tangible book value of the common stock
you purchase in this offering. See &ldquo;Dilution&rdquo; on page
S-41 for a more detailed discussion of the dilution you will incur
in connection with this offering. To the extent outstanding stock
options or warrants are exercised, there will be further dilution
to new investors. In addition, to the extent we need to raise
additional capital in the future and we issue additional equity or
convertible debt securities, our then existing stockholders may
experience further dilution.</FONT></P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Sales of a substantial
number of shares of our common stock, or the perception that such
sales may occur, may adversely impact the price of our common
stock.</FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 11.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Sales of a substantial number of shares of our common stock in the
public market could occur at any time. These sales, or the
perception that such sales may occur, may adversely impact the
price of our common stock, even if there is no relationship between
such sales and the performance of our business.</P>
<P CLASS="LRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-36</P>
<P CLASS="Textflush" STYLE=
'margin-top: 11.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
As of July 19, 2017, we have 58,452,754 shares of common stock
outstanding, as well as outstanding options to purchase an
aggregate of 6,973,886 shares of our common stock at a weighted
average exercise price of $2.97 per share and outstanding warrants
to purchase an aggregate of 8,945,388 shares of our common stock at
a weighted average exercise price of $3.69 per share. The exercise
of such outstanding options and warrants may result in further
dilution of your investment.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">There is no public
market for the warrants being offered by this prospectus supplement
and the accompanying prospectus, and we do not anticipate such a
market ever developing in the future.</FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 11.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
There is no established public trading market for the warrants
being offered by this prospectus supplement and the accompanying
prospectus and we do not intend to have the warrants listed on a
national securities exchange or any other recognized trading system
in the future. Without an active market, the liquidity of any
warrants sold by means of this prospectus supplement and the
accompanying prospectus will be limited.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">The warrants being
offered by means of this prospectus supplement and the accompanying
prospectus may not have any value.</FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 11.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
In the event that the market price of our common stock does not
exceed the exercise price of the warrants sold in this offering
during the period when the warrants are exercisable, the warrants
may not have any value.</P>
<P CLASS="H3" STYLE=
'mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Holders of the warrants
sold by means of this prospectus supplement and the accompanying
prospectus will have no rights as shareholders until they acquire
shares of our common stock, if ever.</FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 11.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
If you acquire warrants to purchase shares of our common stock in
this offering, you will have no rights with respect to our common
stock until you acquire shares of such common stock upon exercise
of your warrants. Upon exercise of your warrants, you will be
entitled to exercise the rights of a common shareholder only as to
matters for which the record date occurs after the exercise
date.</P>
<P CLASS="RRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-37</P>
<P CLASS="H1" STYLE=
'mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Special Note Regarding Forward-Looking Statements</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
This prospectus supplement and accompanying prospectus and the
information incorporated by reference in this prospectus supplement
and accompanying prospectus contain &ldquo;forward-looking
statements&rdquo; within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended (the &ldquo;Exchange
Act&rdquo;), which include information relating to future events,
future financial performance, strategies, expectations, competitive
environment and regulation. Words such as &ldquo;may,&rdquo;
&ldquo;should,&rdquo; &ldquo;could,&rdquo; &ldquo;would,&rdquo;
&ldquo;predicts,&rdquo; &ldquo;potential,&rdquo;
&ldquo;continue,&rdquo; &ldquo;expects,&rdquo;
&ldquo;anticipates,&rdquo; &ldquo;future,&rdquo;
&ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;believes,&rdquo;
&ldquo;estimates,&rdquo; and similar expressions, as well as
statements in future tense, identify forward-looking statements.
Forward-looking statements should not be read as a guarantee of
future performance or results and will probably not be accurate
indications of when such performance or results will be achieved.
Forward-looking statements are based on information we have when
those statements are made or our management&rsquo;s good faith
belief as of that time with respect to future events, and are
subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements. Important factors
that could cause such differences include, but are not limited
to:</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> our history of
recurring losses and negative cash flows from operating activities,
significant future commitments and the uncertainty regarding the
adequacy of our liquidity to pursue our complete business
objectives;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> our ability to
complete clinical trials as anticipated and obtain and maintain
regulatory approvals for our products;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> our ability to
adequately protect our intellectual property;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> disputes over
ownership of intellectual property;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> our dependence on a
single manufacturing facility and our ability to comply with
stringent manufacturing quality standards and to increase
production as necessary;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the risk that the
data collected from our current and planned clinical trials may not
be sufficient to demonstrate that our products are an attractive
alternative to other procedures and products;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> intense competition
in our industry, with competitors having substantially greater
financial, technological, research and development, regulatory and
clinical, manufacturing, marketing and sales, distribution and
personnel resources than we do;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> entry of new
competitors and products and potential technological obsolescence
of our products;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> loss of a key
customer or supplier;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> adverse economic
conditions;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> adverse federal,
state and local government regulation, in the United States;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> price increases for
supplies and components;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> inability to carry
out research, development and commercialization plans; and</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> loss or retirement
of key executives and research scientists.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Although we believe that the forward-looking statements contained
herein are reasonable, we can give no assurance that our
expectations will be met. All forward-looking statements contained
herein are expressly qualified in their entirety by this cautionary
statement and the risk factors beginning on page S-13 of this
prospectus supplement.</P>
<P CLASS="LRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-38</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
prospectus supplement. Except to the extent required by applicable
laws and regulations, we undertake no obligation to update these
forward-looking statements to reflect events or circumstances after
the date of this prospectus or to reflect the occurrence of
unanticipated events.</P>
<P CLASS="RRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-39</P>
<P CLASS="H1" STYLE=
'mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Use of Proceeds</P>
<P CLASS="Textflush" STYLE=
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We estimate the net proceeds from this offering will be
approximately $&#8199;&#8199;&#8199;&#8199;&#8199; million after
deducting the underwriting discount and commissions and our
estimated offering expenses.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We currently intend to use the net proceeds from the sale of
securities offered by this prospectus to fund clinical development
of Iomab-B, Actimab-A, Actimab-M, our alpha particle technology
platform and for general corporate purposes. General corporate
purposes may include research and development expenditures, capital
expenditures and commercialization expenditures.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Investors are cautioned, however, that expenditures may vary
substantially from these uses. Investors will be relying on the
judgment of our management, who will have broad discretion
regarding the application of the proceeds of this offering. The
amounts and timing of our actual expenditures will depend upon
numerous factors, including the amount of cash generated by our
operations, the amount of competition and other operational
factors. We may find it necessary or advisable to use portions of
the proceeds from this offering for other purposes.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
From time to time, we evaluate these and other factors and we
anticipate continuing to make such evaluations to determine if the
existing allocation of resources, including the proceeds of this
offering, is being optimized. Circumstances that may give rise to a
change in the use of proceeds include:</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> a change in
development plan or strategy;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the addition of new
products or applications;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> technical
delays;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> delays or
difficulties with our clinical trials;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> negative results
from our clinical trials;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> difficulty obtaining
U.S. Food and Drug Administration approval;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> failure to achieve
sales as anticipated; and</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the availability of
other sources of cash including cash flow from operations and new
bank debt financing arrangements, if any.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Pending other uses, we intend to invest the proceeds to us in
investment-grade, interest-bearing securities such as money market
funds, certificates of deposit, or direct or guaranteed obligations
of the U.S. government, or hold as cash. We cannot predict whether
the proceeds invested will yield a favorable, or any, return.</P>
<P CLASS="LRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-40</P>
<P CLASS="H1" STYLE=
'mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Dilution</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
If you purchase shares of our common stock in this offering, you
will experience dilution to the extent of the difference between
the combined public offering price per share and related warrant in
this offering and our as adjusted net tangible book value per share
immediately after this offering assuming no value is attributed to
the warrants, and such warrants are accounted for and classified as
equity. Net tangible book value is total assets minus the sum of
liabilities and intangible assets. Net tangible book value per
share is net tangible book value divided by the total number of
shares of common stock outstanding. As of March 31, 2017, our net
tangible book value was $12.9 million, or approximately $0.23 per
share.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
After giving effect to the sale by us of
&#8199;&#8199;&#8199;&#8199;&#8199; shares of common stock and
warrants to purchase &#8199;&#8199;&#8199;&#8199;&#8199; shares of
our common stock in this offering at a combined public offering
price of $ &#8199;&#8199;&#8199; per share and related warrant, and
after deducting the underwriting discount and estimated offering
expenses payable by us, our as adjusted net tangible book value as
of March 31, 2017 would have been approximately $
&#8199;&#8199;&#8199;&#8199;&#8199;, or approximately $
&#8199;&#8199;&#8199;&#8199;&#8199;per share. This amount
represents an immediate increase in net tangible book value of $
&#8199;&#8199;&#8199;&#8199;&#8199; per share to existing
stockholders and an immediate dilution in net tangible book value
of $ &#8199;&#8199;&#8199;&#8199;&#8199; per share to purchasers of
our common stock and warrants in this offering.</P>
<P CLASS="Textflush" STYLE=
'margin-bottom: 10.0pt; mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The following table illustrates the dilution in net tangible book
value per share to new investors:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .25in; border-collapse: collapse; border: 0px solid #000; border-width: 0px;">
<TR>
<TD WIDTH="377" VALIGN="bottom" STYLE=
"width: 283.1pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Public offering price per share and related warrant:</P>
</TD>
<TD WIDTH="77" VALIGN="bottom" STYLE=
"width: 57.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="80" VALIGN="bottom" STYLE=
"width: 60.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$</P>
</TD>
</TR>
<TR>
<TD WIDTH="377" VALIGN="bottom" STYLE=
"width: 283.1pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Net tangible book value per share as of March 31, 2017</P>
</TD>
<TD WIDTH="77" VALIGN="bottom" STYLE=
"width: 57.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$&ensp;0.23</P>
</TD>
<TD WIDTH="80" VALIGN="bottom" STYLE=
"width: 60.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="377" VALIGN="bottom" STYLE=
"width: 283.1pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyind1" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: "Tbody ind_1"; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 20.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Increase in net tangible book value per share after this
offering</P>
</TD>
<TD WIDTH="77" VALIGN="bottom" STYLE=
"width: 57.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="80" VALIGN="bottom" STYLE=
"width: 60.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="377" VALIGN="bottom" STYLE=
"width: 283.1pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="77" VALIGN="bottom" STYLE=
"width: 57.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="80" VALIGN="bottom" STYLE=
"width: 60.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="377" VALIGN="bottom" STYLE=
"width: 283.1pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Net tangible book value per share after this offering</P>
</TD>
<TD WIDTH="77" VALIGN="bottom" STYLE=
"width: 57.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="80" VALIGN="bottom" STYLE=
"width: 60.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$</P>
</TD>
</TR>
<TR>
<TD WIDTH="377" VALIGN="bottom" STYLE=
"width: 283.1pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="77" VALIGN="bottom" STYLE=
"width: 57.65pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="80" VALIGN="bottom" STYLE=
"width: 60.0pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="377" VALIGN="bottom" STYLE=
"width: 283.1pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Dilution per share to new investors</P>
</TD>
<TD WIDTH="77" VALIGN="bottom" STYLE=
"width: 57.65pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="80" VALIGN="bottom" STYLE=
"width: 60.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="center" STYLE=
'margin-right: 0in; text-align: center; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
'margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The foregoing discussion and table do not take into account further
dilution to new investors that could occur upon the exercise of
outstanding options or warrants having a per share exercise price
less than the combined public offering price in this offering. To
the extent that we raise additional capital through the sale of
equity or convertible debt securities, the issuance of those
securities could result in further dilution to our
stockholders.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The number of shares of our common stock that will be outstanding
immediately after the offering is based on 57,152,399 shares
outstanding as of March 31, 2017, and excludes:</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> 7,644,386 shares of
common stock issuable upon the exercise of stock options
outstanding as of March 31, 2017 under our equity incentive plans,
with a weighted average exercise price of $2.97 per share;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> 5,503,950 shares of
common stock available for future grants under our equity incentive
plans as of March 31, 2017;</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> 264,908 shares of
restricted stock reserved for issuance as of March 31, 2017;
and</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> 8,945,388 shares of
common stock issuable upon the exercise of warrants outstanding as
of March 31, 2017, with a weighted average exercise price of $3.69
per share; and</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT>
&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199; shares of
common stock issuable upon the exercise of the warrants offered
hereby.</P>
<P CLASS="RRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-41</P>
<P CLASS="H1" STYLE=
'mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Description of Securities we are Offering</P>
<P CLASS="H2" STYLE=
'mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="bold" STYLE=
"mso-style-name: bold; font-weight: bold;">Common stock</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The material terms and provisions of our common stock are described
under the caption &ldquo;Description of Capital Stock&rdquo; in the
accompanying prospectus beginning on page 10. As of July 19, 2017,
we had 58,452,754 shares of our common stock outstanding. Our
common stock is listed on the NYSE American under the symbol
&ldquo;ATNM&rdquo;.</P>
<P CLASS="H4" STYLE=
"mso-style-name: H4; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="bolditalic" STYLE=
"mso-style-name: bolditalic; font-weight: bold; font-style: italic;">
Warrants</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="italic" STYLE=
"mso-style-name: italic; font-style: italic;">Duration and Exercise
Price:</FONT> By means of this prospectus supplement, we are
offering warrants to purchase up to
&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;
shares of our common stock. Each warrant has an exercise price of
$&#8199;&#8199;&#8199;&#8199; per share, exercisable on July
&#8199;&#8199;, 2017and will expire on
&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="italic" STYLE=
"mso-style-name: italic; font-style: italic;">Exercisability:</FONT>
The warrants may be exercised, in whole or in part, by delivering
to the Company a written notice of election to exercise the warrant
and delivering to the Company cash payment of the exercise price,
if applicable. The exercise price and the number of shares of our
common stock issuable upon exercise of the warrants is subject to
adjustment in the event of certain subdivisions and combinations,
including by any stock split or reverse stock split, stock
dividend, recapitalization or otherwise. In addition, the Company
has the right at any time during the term of the warrants to reduce
the then-existing exercise price to any amount and for any period
of time deemed appropriate by our board of directors.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="italic" STYLE=
"mso-style-name: italic; font-style: italic;"><FONT STYLE=
"letter-spacing: -.05pt;">Cashless Exercise:</FONT></FONT>
<FONT STYLE="letter-spacing: -.05pt;">If, at any time during the
term of the warrants, the issuance of shares of our common stock
upon exercise of the warrants is not covered by an effective
registration statement, the holder is permitted to effect a
cashless exercise of the warrants (in whole or in part) in which
case the holder would receive upon such exercise the net number of
shares of common stock determined according to the formula set
forth in the warrant. Shares issued pursuant to a cashless exercise
would be issued pursuant to the exemption from registration
provided by Section 3(a)(9) of the Securities Act, and thus the
shares of common stock issued upon such cashless exercise would
take on the characteristics of the warrants being exercised,
including, for purposes of Rule 144(d) promulgated under the
Securities Act, a holding period beginning from the original
issuance date of the warrants.</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="italic" STYLE=
"mso-style-name: italic; font-style: italic;">Transferability:</FONT>
Subject to applicable laws, the warrants may be offered for sale,
sold, transferred or assigned without our consent. However, as of
the date of this prospectus supplement there is no established
trading market for the warrants and it is not expected that a
trading market for the warrants will develop in the future.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="italic" STYLE=
"mso-style-name: italic; font-style: italic;">Listing:</FONT> We
will not apply to list the warrants on NYSE American. We do not
intend to list the warrants on any securities exchange or other
quotation system.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="italic" STYLE=
"mso-style-name: italic; font-style: italic;">Rights as a
stockholder:</FONT> Except as set forth in the warrants or by
virtue of such holders&rsquo; ownership of shares of our common
stock, the holders of the warrants do not have the rights or
privileges of holders of our common stock, including any voting
rights, until they exercise the warrants.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="italic" STYLE=
"mso-style-name: italic; font-style: italic;">Limitations on
Exercise:</FONT> The exercise of the warrants may be limited in
certain circumstances if, after giving effect to such exercise, the
holder or any of its affiliates would beneficially own (as
determined in accordance with the terms of the warrants) more than
4.99% (or, at the election of the holder, 9.99%) of our
outstanding common stock immediately after giving effect to the
exercise.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="italic" STYLE=
"mso-style-name: italic; font-style: italic;">Fundamental
Transactions:</FONT> In the event of a fundamental transaction, as
described in the warrants and generally including any merger or
consolidation with or into another entity, the holders of the
warrants shall have the right to exercise the warrant concurrent
with the closing of the fundamental transaction and receive, the
same amount and kind of securities, cash or property as it would
have been entitled to receive upon the occurrence of such
fundamental transaction if it had been, immediately prior to such
fundamental transaction, the holder of shares</P>
<P CLASS="LRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-42</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
of common stock issuable upon exercise in full of the warrant. In
addition, in certain circumstances as described in the warrant, the
holder will have the right to require us to repurchase their
warrants at their fair value using the Black Scholes option pricing
formula.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="italic" STYLE=
"mso-style-name: italic; font-style: italic;">Dividends and Other
Distributions:</FONT> If we declare or make any dividend or other
distribution of our assets to holders of shares of our common stock
(including any distribution of cash, stock or other securities,
property, options, evidence of indebtedness or any other assets),
then, subject to certain limitation on exercise described in the
warrants, each holder of a warrant shall receive the distributed
assets that such holder would have been entitled to receive in the
distribution had the holder exercised the warrant immediately prior
to the record date for the distribution.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The foregoing summary of certain terms and provisions of the
warrants that are being offered hereby is not complete and is
subject to, and is qualified in its entirety by the provisions of
the warrant agreements governing the terms of the warrants, the
forms of which will be filed as exhibits to a Current Report on
Form 8-K that we will file in connection with this offering.
Prospective investors should carefully review the terms and
provisions of the warrant agreements and forms of the warrants for
a complete description of the terms and conditions of the
warrants.</P>
<P CLASS="RRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-43</P>
<P CLASS="H1" STYLE=
'mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Underwriting</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We have entered into an underwriting agreement with the
underwriters named below on July &#8199;&#8199;, 2017. Oppenheimer
&amp; Co. Inc. is acting as the sole book running manager and
representative of the underwriters for this offering. The
underwriting agreement provides for the purchase of a specific
number of shares of common stock and related warrants by each of
the underwriters. The underwriters&rsquo; obligations are several,
which means that each underwriter is required to purchase a
specified number of shares and related warrants, but is not
responsible for the commitment of any other underwriter to purchase
shares and related warrants.</P>
<P CLASS="Textflush" STYLE=
'margin-top: 8.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: Text_flush; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We are offering the securities described in this prospectus
supplement through Oppenheimer &amp; Co. Inc. as sole book-running
manager of the offering. We have entered into an underwriting
agreement with the underwriters named below. Subject to the terms
and conditions of the underwriting agreement, we have agreed to
sell to the underwriters, and the underwriters have agreed to
purchase, at the public offering price less the underwriting
discounts and commissions set forth on the cover page of this
prospectus supplement, the number of shares of common stock and the
related warrants listed next to its name in the following
table:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="88%" STYLE=
"width: 88.14%; margin-left: .25in; border-collapse: collapse; border: 0px solid #000; border-width: 0px;">
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.0%; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Name</P>
</DIV>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.06%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="18%" VALIGN="bottom" STYLE=
"width: 18.46%; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT LANG="EN-GB">Number of<BR>
Shares</FONT></P>
</DIV>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.06%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="18%" VALIGN="bottom" STYLE=
"width: 18.44%; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT LANG="EN-GB">Number of<BR>
Warrants</FONT></P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.0%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Oppenheimer &amp; Co. Inc.</P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.06%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="18%" VALIGN="bottom" STYLE=
"width: 18.46%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px !important; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.06%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="18%" VALIGN="bottom" STYLE=
"width: 18.44%; border: none; border-bottom: solid windowtext 1.0pt; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule1" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px !important; mso-style-name: Tbody_rule1; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
</TR>
<TR>
<TD WIDTH="59%" VALIGN="bottom" STYLE=
"width: 59.0%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Total</P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.06%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="18%" VALIGN="bottom" STYLE=
"width: 18.46%; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px !important; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN="bottom" STYLE=
"width: 2.06%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="18%" VALIGN="bottom" STYLE=
"width: 18.44%; border: none; border-bottom: double windowtext 2.25pt; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrule2" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding-bottom: 3px !important; mso-style-name: Tbody_rule2; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: right; text-autospace: none; padding: 0in; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
&nbsp;</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
'margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Each underwriter is committed to purchase all the shares of common
stock and the related warrants offered by us if it purchases any
such securities.</P>
<P CLASS="Textflush" STYLE=
'margin-top: 8.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Each underwriter proposes to offer the shares of common stock and
the related warrants directly to the public at the public offering
price set forth on the cover page of this prospectus supplement.
After the public offering of the securities, the offering price and
other selling terms may be changed by the underwriter.</P>
<P CLASS="Textflush" STYLE=
'margin-top: 8.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: Text_flush; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The following table shows the underwriting discounts and
commissions to be paid to the underwriters in connection with this
offering.</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="100%" STYLE=
"width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="65%" VALIGN="bottom" STYLE=
"width: 65.66%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.72%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="15%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 15.46%; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT LANG="EN-GB">Per Share of Common Stock and Related
Warrant</FONT></P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.72%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="15%" COLSPAN="2" VALIGN="bottom" STYLE=
"width: 15.46%; background: white; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
'margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt !important; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Total</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="65%" VALIGN="bottom" STYLE=
"width: 65.66%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Public offering price</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.72%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.28%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
'margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$</P>
</TD>
<TD WIDTH="14%" VALIGN="bottom" STYLE=
"width: 14.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.72%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.28%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
'margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$</P>
</TD>
<TD WIDTH="14%" VALIGN="bottom" STYLE=
"width: 14.16%; background: #CCEEFF; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="65%" VALIGN="bottom" STYLE=
"width: 65.66%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbody" STYLE=
'line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody; margin-top: 0in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 10.0pt; text-indent: -10.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Underwriting discount and commission</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.72%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.28%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
'margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$</P>
</TD>
<TD WIDTH="14%" VALIGN="bottom" STYLE=
"width: 14.16%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.72%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.28%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="Tbodyrightalign" ALIGN="left" STYLE=
'margin-right: 0in; text-align: left; line-height: normal; padding-bottom: 3px !important; mso-style-name: Tbody_rightalign; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
$</P>
</TD>
<TD WIDTH="14%" VALIGN="bottom" STYLE=
"width: 14.16%; background: white; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
'font-family: TimesNewRomanPSStd-Bold; color: windowtext;'>
&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
'margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We estimate that our total expenses of the offering, excluding the
estimated underwriting discount and commission, will be
approximately $&#8199;&#8199;&#8199;&#8199; , which includes the
costs and expenses for which we have agreed to reimburse the
underwriters, provided that any such costs and expenses may not
exceed $85,000.</P>
<P CLASS="Textflush" STYLE=
'margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We have agreed to indemnify the underwriters against certain
liabilities, including liabilities under the Securities Act of
1933.</P>
<P CLASS="LRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-44</P>
<P CLASS="Textflush" STYLE=
'margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT STYLE="letter-spacing: -.2pt;">We and our officers and
directors have agreed to a 90-day &ldquo;lock-up&rdquo; with
respect to shares of our common stock and other of our securities
that they beneficially own, including securities that are
convertible into shares of common stock and securities that are
exchangeable or exercisable for shares of common stock. This means
that, subject to certain exceptions, for a period of 90 days
following the date of this prospectus supplement, we and such
persons may not offer, sell, pledge or otherwise dispose of these
securities without the prior written consent of Oppenheimer &amp;
Co. Inc.</FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 11.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT STYLE="letter-spacing: -.1pt;">The underwriter has advised us
that it does not intend to conduct any stabilization or
over-allotment activities in connection with this
offering.</FONT></P>
<P CLASS="Textflush" STYLE=
'margin-top: 11.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="Italic0" STYLE=
"mso-style-name: Italic; font-style: italic;">Electronic Delivery
of Preliminary Prospectus Supplement</FONT>: A prospectus
supplement in electronic format may be delivered to potential
investors by one or more of the underwriters participating in this
offering. The prospectus supplement in electronic format will be
identical to the paper version of such preliminary prospectus
supplement. Other than the prospectus supplement in electronic
format, the information on any underwriter&rsquo;s website and any
information contained in any other website maintained by an
underwriter is not part of this prospectus supplement, the
accompanying prospectus or the registration statement of which this
prospectus supplement and the accompanying prospectus forms a
part.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The underwriters and their affiliates have provided in the past and
may provide from time to time in the future certain commercial
banking, financial advisory, investment banking and other services
for us and our affiliates in the ordinary course of their business,
for which they may receive customary fees and commissions. In
addition, from time to time, the underwriters and their affiliates
may effect transactions for their own accounts or the accounts of
customers, and hold on behalf of themselves or their customers,
long or short positions in our debt or equity securities or loans,
and may do so in the future.</P>
<P CLASS="RRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-45</P>
<P CLASS="H1" STYLE=
'mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Notice to Investors</P>
<P CLASS="H2" STYLE=
'mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
<FONT CLASS="Bold0" STYLE=
"mso-style-name: Bold; font-weight: bold;">Offer Restrictions
Outside the United States</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Other than in the United States, no action has been taken by us or
the underwriters that would permit a public offering of the
securities offered by this prospectus in any jurisdiction where
action for that purpose is required. The securities offered by this
prospectus may not be offered or sold, directly or indirectly, nor
may this prospectus supplement or any other offering material or
advertisements in connection with the offer and sale of any such
securities be distributed or published in any jurisdiction, except
under circumstances that will result in compliance with the
applicable rules and regulations of that jurisdiction. Persons into
whose possession this prospectus supplement comes are advised to
inform themselves about and to observe any restrictions relating to
the offering and the distribution of this prospectus supplement.
This prospectus supplement does not constitute an offer to sell or
a solicitation of an offer to buy any securities offered by this
prospectus supplement in any jurisdiction in which such an offer or
a solicitation is unlawful.</P>
<P CLASS="H2" STYLE=
'mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
European Economic Area</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
In relation to each Member State of the European Economic Area
which has implemented the Prospectus Directive (each, a
&ldquo;Relevant Member State&rdquo;) an offer to the public of any
securities which are the subject of the offering contemplated by
this prospectus supplement may not be made in that Relevant Member
State other than the offers contemplated in this prospectus
supplement in name(s) of Member State(s) where prospectus will be
approved or passported for the purposes of a non-exempt offer once
this prospectus supplement has been approved by the competent
authority in such Member State and published and passported in
accordance with the Prospectus Directive as implemented in name(s)
of relevant Member State(s) except that an offer to the public in
that Relevant Member State of any securities may be made at any
time under the following exemptions under the Prospectus Directive,
if they have been implemented in that Relevant Member State:</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(a)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> to legal
entities which are authorised or regulated to operate in the
financial markets or, if not so authorised or regulated, whose
corporate purpose is solely to invest in securities;</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(b)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> to any
legal entity which has two or more of (1) an average of at least
250 employees during the last financial year; (2) a total balance
sheet of more than &euro;43,000,000 and (3) an annual net turnover
of more than &euro;50,000,000, as shown in its last annual or
consolidated accounts;</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(c)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> by the
representative to fewer than 100 natural or legal persons (other
than qualified investors as defined in the Prospectus Directive);
or</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(d)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> in any
other circumstances falling within Article 3(2) of the Prospectus
Directive, provided that no such offer of securities shall result
in a requirement for the publication by the Company or any
underwriter of a prospectus pursuant to Article 3 of the Prospectus
Directive.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
For the purposes of this provision, the expression an &ldquo;offer
to the public&rdquo; in relation to any securities in any Relevant
Member State means the communication in any form and by any means
of sufficient information on the terms of the offer and any
securities to be offered so as to enable an investor to decide to
purchase any securities, as the same may be varied in that Member
State by any measure implementing the Prospectus Directive in that
Member State and the expression &ldquo;Prospectus Directive&rdquo;
means Directive 2003/71/EC and includes any relevant implementing
measure in each Relevant Member State.</P>
<P CLASS="H2" STYLE=
'mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
United Kingdom</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The underwriter has represented, warranted and agreed that:</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(a)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> it has
only communicated or caused to be communicated and will only
communicate or cause to be communicated any invitation or
inducement to engage in investment activity (within the meaning</P>
<P CLASS="LRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-46</P>
<P CLASS="NLm" STYLE=
'text-indent: 0in; mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
of section 21 of the Financial Services and Markets Act 2000 (the
&ldquo;FSMA&rdquo;)) received by it in connection with the issue or
sale of any securities in circumstances in which section 21(1) of
the FSMA does not apply to the Company; and</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(b)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> it has
complied with and will comply with all applicable provisions of the
FSMA with respect to anything done by it in relation to the
securities in, from or otherwise involving the United Kingdom</P>
<P CLASS="H2" STYLE=
'mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Israel</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
In the State of Israel, the securities offered hereby may not be
offered to any person or entity other than the following:</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(a)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> a fund
for joint investments in trust (i.e., mutual fund), as such term is
defined in the Law for Joint Investments in Trust, 5754-1994, or a
management company of such a fund;</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(b)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> a
provident fund as defined in Section 47(a)(2) of the Income Tax
Ordinance of the State of Israel, or a management company of such a
fund;</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(c)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> an
insurer, as defined in the Law for Oversight of Insurance
Transactions, 5741-1981, (d) a banking entity or satellite entity,
as such terms are defined in the Banking Law (Licensing),
5741-1981, other than a joint services company, acting for their
own account or for the account of investors of the type listed in
Section 15A(b) of the Securities Law 1968;</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT STYLE="letter-spacing: -.1pt;">(d)</FONT><FONT STYLE=
"font-size: 8.5pt; letter-spacing: -.1pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
<FONT STYLE="letter-spacing: -.1pt;">a company that is licensed as
a portfolio manager, as such term is defined in Section 8(b) of the
Law for the Regulation of Investment Advisors and Portfolio
Managers, 5755-1995, acting on its own account or for the account
of investors of the type listed in Section 15A(b) of the Securities
Law 1968;</FONT></P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(e)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> a company
that is licensed as an investment advisor, as such term is defined
in Section 7(c) of the Law for the Regulation of Investment
Advisors and Portfolio Managers, 5755-1995, acting on its own
account;</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(f)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> a company
that is a member of the Tel Aviv Stock Exchange, acting on its own
account or for the account of investors of the type listed in
Section 15A(b) of the Securities Law 1968;</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(g)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> an
underwriter fulfilling the conditions of Section 56(c) of the
Securities Law, 5728-1968;</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(h)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> a venture
capital fund (defined as an entity primarily involved in
investments in companies which, at the time of investment, (i) are
primarily engaged in research and development or manufacture of new
technological products or processes and (ii) involve above-average
risk);</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
(i)<FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> an
entity primarily engaged in capital markets activities in which all
of the equity owners meet one or more of the above criteria;
and</P>
<P CLASS="NLm" STYLE=
'mso-style-name: NL_m; margin-top: 8.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 48.0pt; text-indent: -24.0pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT STYLE="letter-spacing: -.05pt;">(j)</FONT><FONT STYLE=
"font-size: 8.5pt; letter-spacing: -.05pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
<FONT STYLE="letter-spacing: -.05pt;">an entity, other than an
entity formed for the purpose of purchasing securities in this
offering, in which the shareholders equity (including pursuant to
foreign accounting rules, international accounting regulations and
U.S. generally accepted accounting rules, as defined in the
Securities Law Regulations (Preparation of Annual Financial
Statements), 1993) is in excess of NIS 50 million.</FONT></P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
Any offeree of the securities offered hereby in the State of Israel
shall be required to submit written confirmation that it falls
within the scope of one of the above criteria. This prospectus
supplement will not be distributed or directed to investors in the
State of Israel who do not fall within one of the above
criteria.</P>
<P CLASS="H2" STYLE=
'mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
In Canada</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The securities subject to this offering are not qualified for sale
in Canada and may not be offered or sold in Canada, directly or
indirectly, on our behalf.</P>
<P CLASS="RRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-47</P>
<P CLASS="H1" STYLE=
'mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Legal Matters</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The validity of the securities offered by this prospectus will be
passed upon for us by The Matt Law Firm, PLLC, Utica, New York.
Certain legal matters will be passed upon for the underwriters by
Lowenstein Sandler LLP, New York, New York.</P>
<P CLASS="H1" STYLE=
'mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Experts</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The financial statements incorporated in this prospectus supplement
by reference to the Annual Report on Form 10-K for the fiscal years
ended December 31, 2016 and 2015 have been so incorporated in
reliance on the report of GBH CPAs, PC an independent registered
public accounting firm, given on the authority of said firm as
experts in auditing and accounting.</P>
<P CLASS="H1" STYLE=
'mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Where You Can Find More Information</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We are subject to the informational requirements of the Securities
Exchange Act of 1934, as amended, and in accordance therewith file
annual, quarterly and current reports, proxy statements and other
information with the Securities and Exchange Commission. Such
reports, proxy statements and other information can be read and
copied at the Securities and Exchange Commission&rsquo;s public
reference facilities at 100 F Street, N.E., Washington, D.C. 20549,
at prescribed rates. Please call the Securities and Exchange
Commission at 1-800-732-0330 for further information on the
operation of the public reference facilities. In addition, the
Securities and Exchange Commission maintains a website that
contains reports, proxy and information statements and other
information regarding registrants that file electronically with the
Securities and Exchange Commission. The address of the Securities
and Exchange Commission&rsquo;s website is www.sec.gov.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We make available free of charge on or through our website at
www.actiniumpharmceuticals.com, our Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and
amendments to those reports filed or furnished pursuant to Section
13(a) or 15(d) of the Securities Exchange Act of 1934, as amended,
as soon as reasonably practicable after we electronically file such
material with or otherwise furnish it to the Securities and
Exchange Commission.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We have filed with the Securities and Exchange Commission a
registration statement under the Securities Act of 1933, as
amended, relating to the offering of these securities. The
registration statement, including the attached exhibits, contains
additional relevant information about us and the securities. This
prospectus supplement does not contain all of the information set
forth in the registration statement. You can obtain a copy of the
registration statement, at prescribed rates, from the Securities
and Exchange Commission at the address listed above, or for free at
www.sec.gov. The registration statement and the documents referred
to below under &ldquo;Incorporation of Certain Information By
Reference&rdquo; are also available on our website,
www.actiniumpharmaceuticals.com.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
We have not incorporated by reference into this prospectus
supplement the information on our website, and you should not
consider it to be a part of this prospectus supplement.</P>
<P CLASS="LRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-48</P>
<P CLASS="H1" STYLE=
'mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;'>
Incorporation of Certain Information by Reference</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
The Securities and Exchange Commission allows us to
&ldquo;incorporate by reference&rdquo; the information we have
filed with it, which means that we can disclose important
information to you by referring you to those documents. The
information we incorporate by reference is an important part of
this prospectus supplement, and later information that we file with
the Securities and Exchange Commission will automatically update
and supersede this information. We incorporate by reference the
documents listed below and any future documents (excluding
information furnished pursuant to Items 2.02 and 7.01 of Form 8-K)
we file with the Securities and Exchange Commission pursuant to
Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act
of 1934, as amended, subsequent to the date of this prospectus
supplement and prior to the termination of the offering:</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Our Annual Report on
Form 10-K for the fiscal year ended December 31, 2016, filed with
the Securities and Exchange Commission on March 16, 2017; and</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Our Quarterly Report
on Form 10-Q for the three months ended March 31, 2017, filed with
the Securities and Exchange Commission on May 15, 2017; and</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Our Current Reports
on Form 8-K filed with the Securities and Exchange Commission on
March 28, 2017, May 11, 2017, May 16, 2017, June 8, 2017, June 9,
2017, and June 16, 2017 and July 3, 2017 and our Current Report on
Form 8-K/A filed with the Securities and Exchange Commission on May
26, 2017; and.</P>
<P CLASS="BLm" STYLE=
'mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> The description of
our common stock, which is contained in our Form 8-K/A, filed with
the Securities and Exchange Commission on January 28, 2013.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
All filings filed by us pursuant to the Securities Exchange Act of
1934, as amended, after the date of the initial filing of this
registration statement and prior to the effectiveness of such
registration statement (excluding information furnished pursuant to
Items 2.02 and 7.01 of Form 8-K) shall also be deemed to be
incorporated by reference into the prospectus supplement.</P>
<P CLASS="Textflush" STYLE=
'mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
You should rely only on the information incorporated by reference
or provided in this prospectus supplement. We have not authorized
anyone else to provide you with different information. You should
not assume that the information in this prospectus supplement is
accurate as of any date other than the date of this prospectus
supplement or the date of the documents incorporated by reference
in this prospectus supplement.</P>
<P CLASS="Textflush" STYLE=
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We will provide without charge to each person to whom a copy of
this prospectus supplement is delivered, upon written or oral
request, a copy of any or all of the information that has been
incorporated by reference in this prospectus supplement but not
delivered with this prospectus supplement (other than an exhibit to
these filings, unless we have specifically incorporated that
exhibit by reference in this prospectus supplement). Any such
request should be addressed to us at: 275 Madison Avenue, 7th
Floor, New York, New York 10016, Attention: Steve O&rsquo;Loughlin,
Vice President, Finance and Corporate Development, or made by phone
at (646) 677-3870. You may also access the documents incorporated
by reference in this prospectus supplement through our website at
www.actinium pharmaceuticals.com. Except for the specific
incorporated documents listed above, no information available on or
through our website shall be deemed to be incorporated in this
prospectus supplement or the accompanying prospectus.</P>
<P CLASS="RRH" STYLE=
'margin: 10px 0px 10px 0px !important; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;'>
S-49</P>

<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">$200,000,000</FONT></P>
<P CLASS="H1" ALIGN="left" STYLE=
"margin-top: 8.0pt; text-align: left; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">PROSPECTUS</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 8.0pt; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<IMG WIDTH="401" HEIGHT="139" SRC="image002.jpg" alt=""></P>
<P CLASS="H1" STYLE=
"margin-top: 10.0pt; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">$200,000,000<BR>
Common Stock<BR>
Preferred Stock<BR>
Debt Securities<BR>
Warrants<BR>
Rights<BR>
Purchase Contracts<BR>
Units</FONT></P>
<P CLASS="H1" STYLE=
"margin-top: 16.0pt; mso-style-name: H1; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT STYLE="text-transform: uppercase;">PROSPECTUS</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may offer and sell from time to time, in one or more series or
issuances and on terms that we will determine at the time of the
offering, any combination of the securities described in this
prospectus, up to an aggregate amount of $200,000,000.</P>
<P CLASS="Textflush" STYLE=
"margin-top: 9.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We will provide specific terms of any offering in a supplement to
this prospectus. Any prospectus supplement may also add, update, or
change information contained in this prospectus. You should
carefully read this prospectus and the applicable prospectus
supplement as well as the documents incorporated or deemed to be
incorporated by reference in this prospectus before you purchase
any of the securities offered hereby.</P>
<P CLASS="Textflush" STYLE=
"margin-top: 9.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
These securities may be offered and sold in the same offering or in
separate offerings; to or through underwriters, dealers, and
agents; or directly to purchasers. The names of any underwriters,
dealers, or agents involved in the sale of our securities, their
compensation and any over-allotment options held by them will be
described in the applicable prospectus supplement. See &ldquo;Plan
of Distribution.&rdquo;</P>
<P CLASS="Textflush" STYLE=
"margin-top: 9.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: -.15pt;">Our common stock is presently
traded on the NYSE American under the symbol &ldquo;ATNM.&rdquo; On
April 16, 2014, the last reported sale price of our common stock
was $11.69 per share. On March 26, 2014 our common stock commenced
trading on the NYSE American exchange. We recommend that you obtain
current market quotations for our common stock prior to making an
investment decision. We will provide information in any applicable
prospectus supplement regarding any listing of securities other
than shares of our common stock on any securities
exchange.</FONT></P>
<P CLASS="Textflush" STYLE=
"margin-top: 9.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
You should carefully read this prospectus, any prospectus
supplement relating to any specific offering of securities, and all
information incorporated by reference herein and therein.</P>
<P CLASS="Textflush" STYLE=
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Investing in our securities involves a high degree of risk. These
risks are discussed in this prospectus under &ldquo;Risk
Factors&rdquo; beginning on page 7 and in the documents
incorporated by reference into this prospectus.</P>
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Neither the Securities and Exchange Commission nor any state
securities commission has approved or disapproved of these
securities or passed upon the adequacy or accuracy of this
prospectus. Any representation to the contrary is a criminal
offense.</P>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 9.0pt; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The date of this prospectus is April 17, 2014</P>
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&nbsp;</P>
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About this Prospectus</P>
<P CLASS="Textflush" STYLE=
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This prospectus is part of a registration statement on Form S-3
that we filed with the Securities and Exchange Commission using a
&ldquo;shelf&rdquo; registration process. Under this shelf process,
we may, from time to time, sell any combination of the securities
described in this prospectus in one or more offerings up to a total
amount of $200,000,000.</P>
<P CLASS="Textflush" STYLE=
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This prospectus provides you with a general description of the
securities we may offer. Each time we sell securities, we will
provide a prospectus supplement that will contain specific
information about the terms of that offering. The prospectus
supplement may also add to, update or change information contained
in the prospectus and, accordingly, to the extent inconsistent,
information in this prospectus is superseded by the information in
the prospectus supplement.</P>
<P CLASS="Textflush" STYLE=
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The prospectus supplement to be attached to the front of this
prospectus may describe, as applicable: the terms of the securities
offered; the public offering price; the price paid for the
securities; net proceeds; and the other specific terms related to
the offering of the securities.</P>
<P CLASS="Textflush" STYLE=
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You should only rely on the information contained or incorporated
by reference in this prospectus and any prospectus supplement or
issuer free writing prospectus relating to a particular offering.
No person has been authorized to give any information or make any
representations in connection with this offering other than those
contained or incorporated by reference in this prospectus, any
accompanying prospectus supplement and any related issuer free
writing prospectus in connection with the offering described herein
and therein, and, if given or made, such information or
representations must not be relied upon as having been authorized
by us. Neither this prospectus nor any prospectus supplement nor
any related issuer free writing prospectus shall constitute an
offer to sell or a solicitation of an offer to buy offered
securities in any jurisdiction in which it is unlawful for such
person to make such an offering or solicitation. This prospectus
does not contain all of the information included in the
registration statement. For a more complete understanding of the
offering of the securities, you should refer to the registration
statement, including its exhibits.</P>
<P CLASS="Textflush" STYLE=
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You should read the entire prospectus and any prospectus supplement
and any related issuer free writing prospectus, as well as the
documents incorporated by reference into this prospectus or any
prospectus supplement or any related issuer free writing
prospectus, before making an investment decision. Neither the
delivery of this prospectus or any prospectus supplement or any
issuer free writing prospectus nor any sale made hereunder shall
under any circumstances imply that the information contained or
incorporated by reference herein or in any prospectus supplement or
issuer free writing prospectus is correct as of any date subsequent
to the date hereof or of such prospectus supplement or issuer free
writing prospectus, as applicable. You should assume that the
information appearing in this prospectus, any prospectus supplement
or any document incorporated by reference is accurate only as of
the date of the applicable documents, regardless of the time of
delivery of this prospectus or any sale of securities. Our
business, financial condition, results of operations and prospects
may have changed since that date.</P>
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1</P>
<DIV STYLE=
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<P CLASS="SumBoxH1" STYLE=
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<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;">Prospectus
Summary</FONT></P>
<P CLASS="Textflush" STYLE=
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This summary provides an overview of selected information contained
elsewhere or incorporated by reference in this prospectus and does
not contain all of the information you should consider before
investing in our securities. You should carefully read the
prospectus, the information incorporated by reference and the
registration statement of which this prospectus is a part in their
entirety before investing in our securities, including the
information discussed under &ldquo;Risk Factors&rdquo; in this
prospectus and the documents incorporated by reference and our
financial statements and notes thereto that are incorporated by
reference in this prospectus. As used in this prospectus, unless
the context otherwise indicates, the terms &ldquo;we,&rdquo;
&ldquo;our,&rdquo; &ldquo;us,&rdquo; or &ldquo;the Company&rdquo;
refer to Actinium Pharmaceuticals, Inc., a Delaware corporation,
and its subsidiaries taken as a whole.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">The Company</FONT></P>
<P CLASS="H3" STYLE=
"mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Business Overview</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We are a biopharmaceutical company focused on the $54 billion
market for cancer drugs. Our most advanced products are
Actimab&trade;-A, an antibody-drug construct containing actinium
225 (Ac-225), currently in human clinical trials for acute myeloid
leukemia (AML) and Iomab&trade;-B, an antibody-drug construct
containing iodine 131 (I-131), used in myeloconditioning for
hematopoietic stem cells transplantation (HSCT) in various
indications. We are currently designing a trial which we intend to
submit for registration approval in HSCT in the settings of
refractory and relapsed acute myeloid leukemia in older patients.
We are developing our cancer drugs using our expertise in
radioimmunotherapy. In addition, the Ac-225 based drugs development
relies on the patented Alpha Particle Immunotherapy Technology
(APIT) platform technology co-developed with Memorial Sloan
Kettering Cancer Center (MSKCC), whose indirect subsidiary,
Actinium Holdings Ltd., is a significant stockholder of us. The
APIT technology couples monoclonal antibodies (mAb) with extremely
potent but comparatively safe alpha particle emitting radioactive
isotopes, in particular actinium 225 and bismuth 213. The final
drug construct is designed to specifically target and kill cancer
cells while minimizing side effects. We intend to develop a number
of products for different types of cancer and derive revenue from
partnering relationships with large pharmaceutical companies and/or
direct sales of its products in specialty markets in the U.S.</P>
<P CLASS="H3" STYLE=
"mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Business Strategy</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We intend to potentially develop our most advanced clinical stage
drug candidates through approval in the case of Iomab&trade;-B and
up to and including a Phase 2 proof of concept human clinical trial
(a trial designed to provide data on the drug&rsquo;s efficacy) in
the case of Actimab&trade;-A. If these efforts are successful, we
may elect to commercialize Iomab&trade;-B on our own or with a
partner in the United States and/or outside of the United States to
out-license the rights to develop and commercialize the product to
a strategic partner. In the case of Actimab&trade;-A, we will most
likely seek to enter into strategic partnerships whereby the
strategic partner(s) co-fund(s) further human clinical trials of
the drug that are needed to obtain regulatory approvals for
commercial sale within and outside of the United States. In
parallel, we intend to identify and begin initial human trials with
additional actinium-225 drug candidates in other cancer
indications. We intend to retain marketing rights for our products
in the United States whenever possible and out-license marketing
rights to our partners for the rest of the world.</P>
<P CLASS="H3" STYLE=
"mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Market Opportunity</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We are competing in the marketplace for cancer treatments estimated
at over $54 billion in 2011 sales pursuant to an IMS Health report
and projected to exceed $76 billion per year by 2015, according to
the Global Academy for Medical Education. While surgery, radiation
and chemotherapy remain staple treatments for cancer, their use is
limited by the fact that they often cause substantial damage to
normal cells. On the other hand, targeted monoclonal antibody
therapies exert most or all of their effect directly on cancer
cells, but often lack sufficient</P>
</DIV>
<P CLASS="RRH" STYLE=
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2</P>
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<P CLASS="Textflush" STYLE=
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killing power to eradicate all cancer cells with just the antibody.
A new approach for treating cancer is to combine the precision of
antibody-based targeting agents with the killing power of radiation
or chemotherapy by attaching powerful killing agents to precise
molecular carriers called monoclonal antibodies (mAb). The Company
uses monoclonal antibodies labeled with radioisotopes to deliver
potent doses of radiation directly to cancer cells while sparing
healthy tissues. The radioisotopes we use are the alpha emitter
Ac-225 and the beta emitter I-131. I-131 is among the best known
and well characterized radioisotopes. It is used very successfully
in treatment of papillary and follicular thyroid cancer as well as
other thyroid conditions. It is also attached to a monoclonal
antibody in treatment of Non-Hodgkin&rsquo;s Lymphoma (NHL). It is
also used experimentally with different carriers in other cancers.
Ac-225 has many unique properties and the Company is a leader in
developing this alpha emitter for clinical applications using its
proprietary APIT technology.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Our most advanced products are Actimab&trade;-A, Ac-225 labeled mAb
for treatment of newly diagnosed AML, a cancer of the blood, in
patients ineligible for currently approved therapies, and
Iomab&trade;-B, I-131 labeled mAb for preparation of relapsed and
refractory AML patients for HSCT. Iomab&trade;-B offers a
potentially curative treatment for these patients most of whom do
not survive beyond a year after being diagnosed with this
condition. Iomab&trade;-B has also demonstrated efficacy in HSCT
preparation for other blood cancer indications, including
Myelodysplastic Syndrome (MDS), acute lymphoblastic leukemia (ALL),
Hodgkin&rsquo;s Lymphoma, and NHL. These are all follow-on
indications for which Iomab&trade;-B can be developed and it is our
intention to explore these opportunities when financing becomes
available.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
There are currently no FDA approved treatments for either
Actimab&trade;-A or Iomab&trade;-B targeted patients.</P>
<P CLASS="Textflush" STYLE=
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Other potential product opportunities in which a significant amount
of preclinical work is being undertaken include metastatic
colorectal cancer, metastatic prostate cancer and antiangiogenesis
which reduces the blood supply to solid tumors.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: .05pt;">We believe that our biggest
market opportunity lies in the applicability of our APIT platform
technology to a wide variety of cancers. A broad range of solid and
blood borne cancers can be potentially targeted by monoclonal
(mAbs) to enable treatment with its APIT technology. The APIT
technology could potentially be applied to mAbs that are already
Food and Drug Administration (FDA) approved to create more
efficacious and/or safer drugs
(&ldquo;biobetters&rdquo;).</FONT></P>
<P CLASS="H3" STYLE=
"mso-style-name: H3; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
Clinical Trials</FONT></P>
<P CLASS="H4ind" STYLE=
"mso-style-name: H4_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 9.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
Actimab&trade;-A</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Actimab&trade;-A is currently in multicenter Phase 1/2 clinical
trial in AML. It consists of the monoclonal antibody Lintuzumab and
alpha emitting radioisotope actinium 225 (Ac-225). The indication
in the ongoing trial is newly diagnosed AML patients over the age
of 60.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Previous clinical trials leading to this trial included:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Phase 1 clinical
trial with Bismab-A, the first generation product consisting of the
same monoclonal antibody Lintuzumab and Bi-213 alpha emitter, a
daughter of Ac-225;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Phase 1/2 clinical
trial with Bismab-A, the first generation product consisting of the
same monoclonal antibody Lintuzumab and Bi-213 alpha emitter, a
daughter of Ac-225; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Dose escalating
pilot Phase 1 clinical trial with Actimab&trade;-A, the current
product consisting of the Lintuzumab monoclonal antibody and Ac-225
alpha emitter.</P>
</DIV>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
3</P>
<DIV STYLE=
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<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Completed Actimab&trade;-A related clinical trials outcomes:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> The Phase 2 arm of
the Bismab-A drug study has shown signs of the drug&rsquo;s
efficacy and safety, including reduction in peripheral blast counts
and complete responses in some patients. Bi-213 is a daughter,
i.e., product of the degradation of Ac-225, with cancer cell
killing properties similar to Ac-225 but is less potent. The Phase
1 Actimab&trade;-A trial at MSKCC with a single-dose administration
of Actimab&trade;-A showed elimination of leukemia cells from blood
in 67% of all evaluable patients who received a full dose and in
83% of those treated at dose levels above 0.5 microcuries per
kilogram (&micro;Ci/kg), and eradication of leukemia cells in both
blood and bone marrow in 20% of all evaluable patients and 25% of
those treated at dose levels above 0.5 &micro;Ci/kg. Maximum
tolerated single dose in this trial was established at 3
&micro;Ci/kg.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
High potency means that a relatively low amount of drug is needed
to produce a given effect. In preclinical and Phase 1 clinical
studies, Actimab-A (<FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">225</FONT>Ac-lintuzumab)
has demonstrated at least 500-1000 times higher potency than the
first-generation predecessor (<FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">213</FONT>Bi-lintuzumab)
upon which it is based. This difference is due to intrinsic
physicochemical properties of Actimab-A that were first established
<FONT CLASS="Italic" STYLE=
"mso-style-name: Italic; font-style: italic;">in vitro</FONT>, in
which Actimab-A killed multiple cell lines at doses at least 1000
times lower (based on LD50 values) than Bismab-A analogs. Key
factors in Actimab-A&rsquo;s higher potency are the yield of 4
alpha-emitting isotopes per <FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">
225</FONT>Ac (compared to 1 alpha decay for bismuth 213) and much
longer half-life (10 day for <FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">
225</FONT>Ac vs 46 minutes for <FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">
213</FONT>Bi).</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In preclinical animal models, doses in the nanocurie range
prolonged survival. In humans, Actimab-A was previously studied in
a Phase I monotherapy trial of relapsed or refractory AML patients
at MSKCC. Dose levels in that study re-confirmed the substantially
higher potency of Actimab-A, as compared to equivalent dosing of
the first-generation Bismab-A (<FONT CLASS="superscript" STYLE=
"font-size: 6pt; mso-style-name: superscript; vertical-align: super;">213</FONT>Bi-lintuzumab)
construct, which had nevertheless established safety and efficacy
in a Phase 1/2 trial in high-risk AML with cytoreduction.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Sources: Jurcic JG. Targeted Alpha-Particle Immunotherapy with
Bismuth-213 and Actinium-225 for Acute Myeloid Leukemia. J.
Postgrad Med Edu Res 2013, 47(1):14-17; ; JG Jurcic et al, Phase 1
Trial of the Targeted Alpha- Particle Nano-Generator Actinium-225
(225Ac)-Lintuzumab in Acute Myeloid Leukemia (AML) J Clin Oncol
29:2011 (suppl, abstr 6516); McDevitt MR et al, &ldquo;Tumor
Therapy with Targeted Atomic Nanogenerators&rdquo; Science 2001,
294:1537&mdash;1540; Rosenblat TL et al, &ldquo;Sequential
cytarabine and alpha-particle immunotherapy with bismuth-
213-lintuzumab (HuM195) for acute myeloid leukemia&rdquo; Clin
Cancer Res. 2010, 16(21):5303-5311; Jurcic JG et al. &ldquo;Phase I
Trial of the Targeted Alpha-Particle Nano-Generator Actinium-225
(225Ac)-Lintuzumab in Acute Myeloid Leukemia (AML)&rdquo; Blood
(ASH Meeting Abstracts) 2012.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Ongoing Actimab&trade;-A trial:</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We have commenced our first company sponsored Phase 1/2
multi-center trial with fractionated (two) doses of
Actimab&trade;-A, our lead product candidate for treatment of
elderly AML that consists of an AML specific monoclonal antibody
(HuM195, also known as Lintuzumab&trade;) and the actinium 225
radioactive isotope attached to it. We are conducting this trial at
world-class cancer institutions such as MSKCC, Johns Hopkins
Medicine, University of Pennsylvania Health System, Fred Hutchinson
Cancer Center and MD Anderson Cancer Center.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Bismabt-A trials and the Phase 1 Actimab&trade;-A trial were
focused on relapsed, refractory and other difficult to treat acute
myeloid leukemia patients. The current multicenter Phase 1/2 trial
is focused on newly diagnosed AML patients who have historically
had better outcomes. In addition, the new trial includes low doses
of chemotherapy with the goal of further improving patient
outcomes.</P>
<P CLASS="H4ind" STYLE=
"mso-style-name: H4_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 9.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
<FONT STYLE="font-weight: normal;">Iomab&trade;-B</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Iomab&trade;-B is our product currently in preparation for a
pivotal Phase 3 multicenter clinical trial. It consists of the
monoclonal antibody BC8 and beta emitting radioisotope iodine 131
(I-131). The indication for that trial is bone marrow conditioning
for HSCT in relapsed and refractory AML patients over the age of
55.</P>
</DIV>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
4</P>
<DIV STYLE=
"border: solid windowtext 1.0pt; padding: 10.0pt 4.0pt 10.0pt 4.0pt;">
<P CLASS="Textflush" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Previous Iomab&trade;-B clinical trials leading to the planned
Phase 3 trial currently in preparation included:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="98%" STYLE=
"width: 98.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="30%" VALIGN="bottom" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Indications</P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
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<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="bottom" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
N</P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="bottom" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Key Findings</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
AML, MDS, ALL (adult)</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
34</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">&ndash;7/34 patients with median disease free
state (DFS) of 17 years.</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">&ndash;18/34 patients in remission at day
80</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
AML &gt;1st remission (adult)</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
23</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&ndash;15/23 in remission at day 28</P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
AML 1st remission (age 16-50)</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
43</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&ndash;23/43 DFS from 5-16 years</P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&ndash;30/43 in remission at day 28</P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
&ndash;33/43 in remission at day 80</P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
High-risk MDS, advanced AML (age 50+)</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
68 in dose escalation study</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">&ndash;CR (complete remission) in all
patients</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
31 treated at MTD</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">&ndash;1 yr survival ~40% for all
patients</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">&ndash;1 yr survival ~45% for pts treated at MTD
maximum tolerated dose)</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
High-risk MDS, AML (age 18&ndash;50)</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
14 in dose escalation</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">All patients achieved full donor chimerism by
day 28 post-transplant</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="30%" VALIGN="top" STYLE=
"width: 30.9%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">High-risk MDS, AML &ndash;haploidentical donors
(adult)</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="20%" VALIGN="top" STYLE=
"width: 20.6%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8 in dose escalation</P>
</TD>
<TD WIDTH="1%" VALIGN="top" STYLE=
"width: 1.72%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="45%" VALIGN="top" STYLE=
"width: 45.06%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">&ndash;6/8 treated patients achieved CR by
day.28<BR>
&ndash;8/8 patients 100% donor chimerism by day 28</FONT></P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
"margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; mso-style-name: Text_flush; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Ongoing Iomab&trade;-B clinical trials include:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" WIDTH="98%" STYLE=
"width: 98.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="82%" VALIGN="bottom" STYLE=
"width: 82.54%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCHleft" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH_left; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Indications</P>
</DIV>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="15%" VALIGN="bottom" STYLE=
"width: 15.72%; padding: 0in 0in 0in 0in;">
<DIV STYLE=
"border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="TCH" STYLE=
"margin-right: 0in; line-height: normal; border: none; padding: 0in; padding-bottom: 0pt; mso-style-name: TCH; margin-top: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 8.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Phase</P>
</DIV>
</TD>
</TR>
<TR>
<TD WIDTH="82%" VALIGN="bottom" STYLE=
"width: 82.54%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">Relapsed and refractory Hodgkin Lymphoma and NHL
(adult)</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="15%" VALIGN="bottom" STYLE=
"width: 15.72%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Phase 1</P>
</TD>
</TR>
<TR>
<TD WIDTH="82%" VALIGN="bottom" STYLE=
"width: 82.54%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Advanced AML, ALL and MDS (adult)</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="15%" VALIGN="bottom" STYLE=
"width: 15.72%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Phase 2</P>
</TD>
</TR>
<TR>
<TD WIDTH="82%" VALIGN="bottom" STYLE=
"width: 82.54%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
AML 1st remission (age 16-50)</P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="15%" VALIGN="bottom" STYLE=
"width: 15.72%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Phase 2</P>
</TD>
</TR>
<TR>
<TD WIDTH="82%" VALIGN="bottom" STYLE=
"width: 82.54%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">High-risk MDS, advanced AML (age
16-50)</FONT></P>
</TD>
<TD WIDTH="1%" VALIGN="bottom" STYLE=
"width: 1.74%; padding: 0in 0in 0in 0in;">
<P CLASS="NoParagraphStyle" STYLE=
'line-height: normal; mso-style-name: "\[No Paragraph Style\]"; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 12.0pt; font-family: MinionPro-Regular; color: black;'>
<FONT STYLE=
"font-family: TimesNewRomanPSStd-Bold; color: windowtext;">&nbsp;</FONT></P>
</TD>
<TD WIDTH="15%" VALIGN="bottom" STYLE=
"width: 15.72%; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Phase 2</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
There are additional ongoing clinical trials with BC8 antibody
labeled with yttrium 90 (Y-90).</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Phase 3 Iomab&trade;-B clinical trial in preparation:</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
While we do not have a Special Protocol Assessment from the FDA
with respect to our planned Phase 3 trial of Iomab&trade;-B, we
have obtained FDA&rsquo;s comment and guidance on the Phase 3
clinical trial design, and the FDA has identified the following
design features as generally acceptable, dependent on the results
of the trial:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Single pivotal
study, pending trial results;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Patient population:
refractory AML patients age of 55 and older, where refractory is
defined as either primary failure to achieve a complete remission
after 2 cycles of induction therapy; relapsed after 6 months in
complete remission; second or higher relapse; or relapsed disease
not responding to intensive salvage therapy;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Trial arms: study
arm and control arm with physician&rsquo;s choice of conventional
care with curative intent; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Trial size: 150
patients total (75 patients per arm).</P>
</DIV>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
5</P>
<DIV STYLE=
"border: solid windowtext 1.0pt; padding: 10.0pt 4.0pt 10.0pt 4.0pt;">
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Corporate and Other
Information</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We were organized in the State of Nevada on October 6, 1997 and
reorganized in the State of Delaware on March 20, 2013. Our
principal executive offices are located at 501 5th Avenue, 3rd
Floor, New York, New York 10017. Our telephone number is (646)
459-4201. Our website address is www.actiniumpharmaceuticals.com.
Information accessed through our website is not incorporated into
this prospectus and is not a part of this prospectus.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">The Securities We May
Offer</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The descriptions of the securities contained in this prospectus,
together with the applicable prospectus supplements, summarize the
material terms and provisions of the various types of securities
that we may offer. We will describe in the applicable prospectus
supplement relating to any securities the particular terms of the
securities offered by that prospectus supplement. If we so indicate
in the applicable prospectus supplement, the terms of the
securities may differ from the terms we have summarized below. We
will also include information in the prospectus supplement, where
applicable, about material U.S. federal income tax considerations
relating to the securities, and the securities exchange, if any, on
which the securities will be listed.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may sell from time to time, in one or more primary offerings,
our common stock, preferred stock, debt securities, warrants,
rights, purchase contracts or units, or any combination of the
foregoing.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In this prospectus, we refer to the common stock, preferred stock,
debt securities, warrants, rights, purchase contracts or units, or
any combination of the foregoing securities to be sold by us in a
primary offering collectively as &ldquo;securities.&rdquo; The
total dollar amount of all securities that we may issue under this
prospectus will not exceed $200,000,000.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
This prospectus may not be used to consummate a sale of securities
unless it is accompanied by a prospectus supplement.</P>
</DIV>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
6</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Risk Factors</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
An investment in our securities involves a high degree of risk. The
prospectus supplement applicable to each offering of our securities
will contain a discussion of the risks applicable to an investment
in our securities. Before deciding whether to invest in our
securities, you should carefully consider the specific factors
discussed under the heading &ldquo;Risk Factors&rdquo; in the
applicable prospectus supplement, together with all of the other
information contained or incorporated by reference in the
prospectus supplement or appearing or incorporated by reference in
this prospectus. You should also consider the risks, uncertainties
and assumptions discussed under Item 1A, &ldquo;Risk
Factors,&rdquo; in our Annual Report on Form 10-K for the fiscal
year ended December 31, 2013, all of which are incorporated herein
by reference, as updated or superseded by the risks and
uncertainties described under similar headings in the other
documents that are filed after the date hereof and incorporated by
reference into this prospectus and any prospectus supplement
related to a particular offering. The risks and uncertainties we
have described are not the only ones we face. Additional risks and
uncertainties not presently known to us or that we currently deem
immaterial may also affect our operations. Past financial
performance may not be a reliable indicator of future performance,
and historical trends should not be used to anticipate results or
trends in future periods. If any of these risks actually occurs,
our business, business prospects, financial condition or results of
operations could be seriously harmed. This could cause the trading
price of our common stock to decline, resulting in a loss of all or
part of your investment. Please also read carefully the section
below entitled &ldquo;Special Note Regarding Forward-Looking
Statements.&rdquo;</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
7</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Special Note Regarding Forward-Looking Statements</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
This prospectus, each prospectus supplement and the information
incorporated by reference in this prospectus and each prospectus
supplement contain &ldquo;forward-looking statements,&rdquo; which
include information relating to future events, future financial
performance, strategies, expectations, competitive environment and
regulation. Words such as &ldquo;may,&rdquo; &ldquo;should,&rdquo;
&ldquo;could,&rdquo; &ldquo;would,&rdquo; &ldquo;predicts,&rdquo;
&ldquo;potential,&rdquo; &ldquo;continue,&rdquo;
&ldquo;expects,&rdquo; &ldquo;anticipates,&rdquo;
&ldquo;future,&rdquo; &ldquo;intends,&rdquo; &ldquo;plans,&rdquo;
&ldquo;believes,&rdquo; &ldquo;estimates,&rdquo; and similar
expressions, as well as statements in future tense, identify
forward-looking statements. Forward-looking statements should not
be read as a guarantee of future performance or results and will
probably not be accurate indications of when such performance or
results will be achieved. Forward-looking statements are based on
information we have when those statements are made or our
management&rsquo;s good faith belief as of that time with respect
to future events, and are subject to risks and uncertainties that
could cause actual performance or results to differ materially from
those expressed in or suggested by the forward-looking statements.
Important factors that could cause such differences include, but
are not limited to:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> our history of
recurring losses and negative cash flows from operating activities,
significant future commitments and the uncertainty regarding the
adequacy of our liquidity to pursue our complete business
objectives;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> our ability to
complete clinical trials as anticipated and obtain and maintain
regulatory approvals for our products;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> our ability to
adequately protect our intellectual property;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> disputes over
ownership of intellectual property;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the risk that the
data collected from our current and planned clinical trials may not
be sufficient to demonstrate that our products is an attractive
alternative to other products;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> intense competition
in our industry, with competitors having substantially greater
financial, technological, research and development, regulatory and
clinical, manufacturing, marketing and sales, distribution and
personnel resources than we do;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> entry of new
competitors and products and potential technological obsolescence
of our products;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> loss of a key
customer or supplier;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> technical problems
with our research and products and potential product liability
claims;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> adverse economic
conditions;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> adverse federal,
state and local government regulation, in the United States;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> price increases for
supplies;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> inability to carry
out research, development and commercialization plans; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> loss or retirement
of key executives and research scientists.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
You should review carefully the section entitled &ldquo;Risk
Factors&rdquo; beginning on page 7 of this prospectus for a
discussion of these and other risks that relate to our business and
investing in our securities. The forward-looking statements
contained or incorporated by reference in this prospectus or any
prospectus supplement are expressly qualified in their entirety by
this cautionary statement. We do not undertake any obligation to
publicly update any forward-looking statement to reflect events or
circumstances after the date on which any such statement is made or
to reflect the occurrence of unanticipated events.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
8</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Use of Proceeds</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Unless otherwise indicated in the prospectus supplement, we
currently intend to use the net proceeds from the sale of
securities offered by this prospectus for general corporate
purposes, including capital expenditures, the advancement of our
drug candidates in clinical trials, such as Iomab&trade;-B and
Actimab-A, preclinical trials, and to meet working capital
needs.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Investors are cautioned, however, that expenditures may vary
substantially from these uses. Investors will be relying on the
judgment of our management, who will have broad discretion
regarding the application of the proceeds of this offering. The
amounts and timing of our actual expenditures will depend upon
numerous factors, including the amount of cash generated by our
operations, the amount of competition and other operational
factors. We may find it necessary or advisable to use portions of
the proceeds from this offering for other purposes.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
From time to time, we evaluate these and other factors and we
anticipate continuing to make such evaluations to determine if the
existing allocation of resources, including the proceeds of this
offering, is being optimized. Circumstances that may give rise to a
change in the use of proceeds include:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> a change in
development plan or strategy;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the addition of new
products or applications;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> technical
delays;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> delays or
difficulties with our clinical trials;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> negative results
from our clinical trials;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> difficulty obtaining
U.S. Food and Drug Administration approval; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the availability of
other sources of cash including additional offerings, if any.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
9</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Description of Capital Stock</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The following description of common stock and preferred stock
summarizes the material terms and provisions of the common stock
and preferred stock that we may offer under this prospectus, but is
not complete. For the complete terms of our common stock and
preferred stock, please refer to our certificate of incorporation,
as amended and our bylaws, as may be amended from time to time.
While the terms we have summarized below will apply generally to
any future common stock or preferred stock that we may offer, we
will describe the specific terms of any series of preferred stock
in more detail in the applicable prospectus supplement. If we so
indicate in a prospectus supplement, the terms of any preferred
stock we offer under that prospectus supplement may differ from the
terms we describe below.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We have authorized 250,000,000 shares of capital stock, par value
$0.001 per share, of which 200,000,000 are shares of common stock
and 50,000,000 are shares of preferred stock. On March 13, 2014,
there were 25,324,978 shares of common stock issued and outstanding
and no shares of preferred stock issued and outstanding. There are
no preferred issued and outstanding. The authorized and unissued
shares of common stock and the authorized and undesignated shares
of preferred stock are available for issuance without further
action by our stockholders, unless such action is required by
applicable law or the rules of any stock exchange on which our
securities may be listed. Unless approval of our stockholders is so
required, our board of directors does not intend to seek
stockholder approval for the issuance and sale of our common stock
or preferred stock.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We also have warrants that are outstanding, which are described
below.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Common Stock</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The holders of our common stock are entitled to one vote per share.
Our certificate of incorporation does not provide for cumulative
voting. Our directors are divided into three classes. At each
annual meeting of stockholders, directors elected to succeed those
directors whose terms expire are elected for a term of office to
expire at the third succeeding annual meeting of stockholders after
their election. The holders of our common stock are entitled to
receive ratably such dividends, if any, as may be declared by our
board of directors out of legally available funds; however, the
current policy of our board of directors is to retain earnings, if
any, for operations and growth. Upon liquidation, dissolution or
winding-up, the holders of our common stock are entitled to share
ratably in all assets that are legally available for distribution.
The holders of our common stock have no preemptive, subscription,
redemption or conversion rights. The rights, preferences and
privileges of holders of our common stock are subject to, and may
be adversely affected by, the rights of the holders of any series
of preferred stock, which may be designated solely by action of our
board of directors and issued in the future.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Our common stock is listed on the NYSE American under
the symbol &ldquo;ATNM.&rdquo; On March 26, 2014 our common stock
commensed trading on the NYSE American exchange.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Preferred
Stock</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The board of directors is authorized, subject to any limitations
prescribed by law, without further vote or action by the
stockholders, to issue from time to time shares of preferred stock
in one or more series. Each such series of preferred stock shall
have such number of shares, designations, preferences, voting
powers, qualifications, and special or relative rights or
privileges as shall be determined by the board of directors, which
may include, among others, dividend rights, voting rights,
liquidation preferences, conversion rights and preemptive rights.
Issuance of preferred stock by our board of directors may result in
such shares having dividend and/or liquidation preferences senior
to the rights of the holders of our common stock and could dilute
the voting rights of the holders of our common stock.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
10</P>
<P CLASS="Textflush" STYLE=
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Prior to the issuance of shares of each series of preferred stock,
the board of directors is required by the Delaware General
Corporation Law and our certificate of incorporation to adopt
resolutions and file a certificate of designation with the
Secretary of State of the State of Delaware. The certificate of
designation fixes for each class or series the designations,
powers, preferences, rights, qualifications, limitations and
restrictions, including, but not limited to, some or all of the
following:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the number of shares
constituting that series and the distinctive designation of that
series, which number may be increased or decreased (but not below
the number of shares then outstanding) from time to time by action
of the board of directors;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the dividend rate
and the manner and frequency of payment of dividends on the shares
of that series, whether dividends will be cumulative, and, if so,
from which date;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether that series
will have voting rights, in addition to any voting rights provided
by law, and, if so, the terms of such voting rights;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether that series
will have conversion privileges, and, if so, the terms and
conditions of such conversion, including provision for adjustment
of the conversion rate in such events as the board of directors may
determine;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether or not the
shares of that series will be redeemable, and, if so, the terms and
conditions of such redemption;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether that series
will have a sinking fund for the redemption or purchase of shares
of that series, and, if so, the terms and amount of such sinking
fund;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether or not the
shares of the series will have priority over or be on a parity with
or be junior to the shares of any other series or class in any
respect;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE="mso-style-name: bullet;"><FONT STYLE=
"letter-spacing: .1pt;">&bull;</FONT></FONT><FONT CLASS="bullet"
STYLE="mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt; letter-spacing: .1pt;">&nbsp;&nbsp;</FONT></FONT>
<FONT STYLE="letter-spacing: .1pt;">the rights of the shares of
that series in the event of voluntary or involuntary liquidation,
dissolution or winding up of the corporation, and the relative
rights or priority, if any, of payment of shares of that series;
and</FONT></P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any other relative
rights, preferences and limitations of that series.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Once designated by our board of directors, each series of preferred
stock may have specific financial and other terms that will be
described in a prospectus supplement. The description of the
preferred stock that is set forth in any prospectus supplement is
not complete without reference to the documents that govern the
preferred stock. These include our certificate of incorporation and
any certificates of designation that our board of directors may
adopt.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
All shares of preferred stock offered hereby will, when issued, be
fully paid and non-assessable, including shares of preferred stock
issued upon the exercise of preferred stock warrants or
subscription rights, if any.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Although our board of directors has no intention at the present
time of doing so, it could authorize the issuance of a series of
preferred stock that could, depending on the terms of such series,
impede the completion of a merger, tender offer or other takeover
attempt.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Warrants</FONT></P>
<P CLASS="H4ind" STYLE=
"mso-style-name: H4_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 9.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
<FONT STYLE="font-weight: normal;">Common Stock
Warrants</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
On December 27, 2013 and January 10, 2014, we issued common stock
warrants to certain investors in a private placement of common
stock and warrants (the &ldquo;Common Stock Warrants&rdquo;). The
Common Stock Warrants have a five year term from each closing that
occurred on December 27, 2013 and January 10, 2014, and are
exercisable for an aggregate of up to 276,529 shares of the
Company&rsquo;s common stock at an initial per share exercise price
of $9.00, subject to adjustments as set forth below. The Company
may also call this warrant for</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
11</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
redemption upon written notice to all warrant holders at any time
the closing price of the common stock exceeds $15.00 (as may be
adjusted pursuant to warrant agreement) for 20 consecutive trading
days, as reported by Bloomberg, provided at such time there is an
effective registration statement covering the resale of the shares
underlying the warrants. In the 60 business days following the date
the redemption notice is deemed given in accordance with the
agreement, investors may choose to exercise this warrant or a
portion of the warrant by paying the then applicable exercise price
per share for every share exercised. Any shares not exercised on
the last day of the exercise period will be redeemed by the Company
at $0.001 per share.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The exercise prices of the Common Stock Warrants are subject to
adjustment upon certain events. If the Company at any time while
the warrants remain outstanding and unexpired shall declare a
dividend or make a distribution on the outstanding Common Stock
payable in shares of its capital stock, or split, subdivide or
combine the securities as to which purchase rights under this
Warrant exist into a different number of securities of the same
class, the exercise price for such securities shall be
proportionately decreased in the case of a dividend, split or
subdivision or proportionately increased in the case of a
combination.</P>
<P CLASS="H4ind" STYLE=
"mso-style-name: H4_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 9.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
<FONT STYLE="font-weight: normal;">Series B
Warrants</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Series B Warrants have a five year term from January 28, 2013
and are exercisable for an aggregate of up to 1,590,484 shares of
the Company&rsquo;s common stock at an initial per share exercise
price of $2.48, subject to adjustment as set forth below. As of
March 13, 2014, there were 1,557,925 warrants outstanding. These
warrants have a cashless exercise provision. The Company also has a
right of first refusal on the holder&rsquo;s sale of the warrant
shares. The Company may also call this warrant for redemption upon
written notice to all warrant holders at any time the closing price
of the common stock exceeds $1.50 (as may be adjusted pursuant to
warrant agreement) for 20 consecutive trading days, as reported by
Bloomberg, provided at such time there is an effective registration
statement covering the resale of the shares underlying the
warrants. In the 60 business days following the date the redemption
notice is deemed given in accordance with the agreement, investors
may choose to exercise this warrant or a portion of the warrant by
paying the then applicable exercise price per share for every share
exercised. Any shares not exercised on the last day of the exercise
period will be redeemed by the Company at $0.001 per share.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The exercise price of the Series B Warrants is subject to
adjustment upon certain events. If the Company at any time while
the warrants remain outstanding and unexpired shall declare a
dividend or make a distribution on the outstanding Common Stock
payable in shares of its capital stock, or split, subdivide or
combine the securities as to which purchase rights under this
Warrant exist into a different number of securities of the same
class, the exercise price for such securities shall be
proportionately decreased in the case of a dividend, split or
subdivision or proportionately increased in the case of a
combination.</P>
<P CLASS="Textflush" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In addition, for so long as there are any warrants outstanding, if
and whenever at any time and from time to time after the warrant
issue date, as applicable, the Company shall issue any shares of
common stock for no consideration or a consideration per share less
than the exercise price, as applicable, then, forthwith upon such
issue or sale, the warrants shall be subject to a proportional
adjustment determined by multiplying such warrant exercise price by
the following fraction:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="72" VALIGN="bottom" STYLE=
"width: .75in; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">N(0) +<BR>
N(1)</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="72" VALIGN="bottom" STYLE=
"width: .75in; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(0) + N(2)</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Where:</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(0) = the number of shares of common stock outstanding (calculated
on a Fully Diluted Basis) immediately prior to the issuance of such
additional shares of common stock or common stock Equivalents;</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
12</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(1) = the number of shares of common stock which the aggregate
consideration, if any (including the aggregate Net Consideration
Per Share with respect to the issuance of common stock
equivalents), received or receivable by the Company for the total
number of such additional shares of common stock so issued or
deemed to be issued would purchase at the warrant exercise price,
as applicable, in effect immediately prior to such issuance;
and</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(2) = the number of such additional shares of common stock so
issued or deemed to be issued.</P>
<P CLASS="H4ind" STYLE=
"mso-style-name: H4_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 9.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
<FONT STYLE="font-weight: normal;">Stock Offering
Warrants</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Stock Offering Warrants have a term ending on January 31, 2019
and are exercisable for an aggregate of up to 2,700,971 shares of
the Company&rsquo;s common stock at an initial per share exercise
price of $0.78, subject to adjustment as set forth below
(anti-dilution). As of March 13, 2014, there were 787,378 warrants
outstanding. These warrants have a cashless exercise provision. The
Company also has a right of first refusal on the holder&rsquo;s
sale of the warrant shares.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
These warrants have a cashless exercise provision. The Company also
has a right of first refusal on the holder&rsquo;s sale of the
warrant shares. The exercise prices of the Stock Offering Warrants
are subject to adjustment upon certain events. If the Company at
any time while the warrants remain outstanding and unexpired shall
declare a dividend or make a distribution on the outstanding Common
Stock payable in shares of its capital stock, or split, subdivide
or combine the securities as to which purchase rights under this
Warrant exist into a different number of securities of the same
class, the exercise price for such securities shall be
proportionately decreased in the case of a dividend, split or
subdivision or proportionately increased in the case of a
combination.</P>
<P CLASS="Textflush" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In addition, for so long as there are any warrants outstanding, if
and whenever at any time and from time to time after the warrant
issue date, as applicable, the Company shall issue any shares of
common stock for no consideration or a consideration per share less
than the exercise price, as applicable, then, forthwith upon such
issue or sale, the warrants shall be subject to a proportional
adjustment determined by multiplying such warrant exercise price by
the following fraction:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="72" VALIGN="bottom" STYLE=
"width: .75in; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">N(0) +<BR>
N(1)</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="72" VALIGN="bottom" STYLE=
"width: .75in; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(0) + N(2)</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Where:</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(0) = the number of shares of common stock outstanding (calculated
on a Fully Diluted Basis) immediately prior to the issuance of such
additional shares of common stock or common stock Equivalents;</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(1) = the number of shares of common stock which the aggregate
consideration, if any (including the aggregate Net Consideration
Per Share with respect to the issuance of common stock
equivalents), received or receivable by the Company for the total
number of such additional shares of common stock so issued or
deemed to be issued would purchase at the warrant exercise price,
as applicable, in effect immediately prior to such issuance;
and</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(2) = the number of such additional shares of common stock so
issued or deemed to be issued.</P>
<P CLASS="H4ind" STYLE=
"mso-style-name: H4_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 9.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
<FONT STYLE="font-weight: normal;">Consulting Firm
Warrants</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Consulting Firm Warrants have a term ending on December 17,
2019 and are exercisable for an aggregate of up to 3,755,562 shares
of the Company&rsquo;s common stock. As of March 13, 2014, there
were 3,755,562 warrants outstanding. These warrants may not be
exercised by the Holder upon less than 90 days prior written</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
13</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
notice of such exercise and provided further that that the Holder
may elect, in its sole discretion, to waive the Prior Notice
Requirement, in whole or in part, upon 65 days prior written notice
of such waiver. These warrants have a cashless exercise provision
and were issued at an initial per share exercise price of $0.001,
subject to adjustment as if the Company at any time while the
warrants remain outstanding and unexpired shall declare a dividend
or make a distribution on the outstanding Common Stock payable in
shares of its capital stock, or split, subdivide or combine the
securities as to which purchase rights under this Warrant exist
into a different number of securities of the same class, the
exercise price for such securities shall be proportionately
decreased in the case of a dividend, split or subdivision or
proportionately increased in the case of a combination. The
warrants are also subject to piggy-back registration rights. The
holder has also agreed that following the consummation of the pubco
transaction (which occurred on December 28, 2012), the holder will
not sell or otherwise transfer any shares of common stock of the
Company owned by holder, as a result of the exercise of the warrant
until the date that is the earlier of (i) twelve (12) months from
the closing date of the pubco transaction; or (ii) six (6) months
following the effective date of the Registration Statement of which
this prospectus is a part.</P>
<P CLASS="H4ind" STYLE=
"mso-style-name: H4_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 9.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
<FONT STYLE="font-weight: normal;">Placement Agent
Warrants</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Company issued three types of warrants to the Placement Agent,
Placement Agent Stock Offering Warrants, Placement Agent Common
Stock Warrants, and Placement Agent December 2013 Offering
Warrants.</P>
<P CLASS="H4ind" STYLE=
"mso-style-name: H4_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 9.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
<FONT STYLE="font-weight: normal;">Placement Agent Stock Offering
Warrants</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: -.05pt;">The Placement Agent Stock
Offering Warrants have a term ending on January 31, 2019 and are
exercisable for an aggregate of up to 1,245,210 shares of the
Company&rsquo;s common stock at an initial per share exercise price
of $0.78, subject to adjustment as set forth below (anti dilution).
As of March 13, 2014, there were 367,742 warrants outstanding.
These warrants have a cashless exercise provision. The exercise
prices of the warrants are subject to adjustment upon certain
events. If the Company at any time while the warrants remain
outstanding and unexpired shall declare a dividend or make a
distribution on the outstanding Common Stock payable in shares of
its capital stock, or split, subdivide or combine the securities as
to which purchase rights under this Warrant exist into a different
number of securities of the same class, the exercise price for such
securities shall be proportionately decreased in the case of a
dividend, split or subdivision or proportionately increased in the
case of a combination.</FONT></P>
<P CLASS="Textflush" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In addition, for so long as there are any warrants outstanding, if
and whenever at any time and from time to time after the warrant
issue date, as applicable, the Company shall issue any shares of
common stock for no consideration or a consideration per share less
than the exercise price, as applicable, then, forthwith upon such
issue or sale, the warrants shall be subject to a proportional
adjustment determined by multiplying such warrant exercise price by
the following fraction:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="72" VALIGN="bottom" STYLE=
"width: .75in; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">N(0) +<BR>
N(1)</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="72" VALIGN="bottom" STYLE=
"width: .75in; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(0) + N(2)</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Where:</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(0) = the number of shares of common stock outstanding (calculated
on a Fully Diluted Basis) immediately prior to the issuance of such
additional shares of common stock or common stock Equivalents;</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: -.05pt;">N(1) = the number of shares
of common stock which the aggregate consideration, if any
(including the aggregate Net Consideration Per Share with respect
to the issuance of common stock equivalents), received or
receivable by the Company for the total number of such additional
shares of common stock so issued or deemed to be issued would
purchase at the warrant exercise price, as applicable, in effect
immediately prior to such issuance; and</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(2) = the number of such additional shares of common stock so
issued or deemed to be issued.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
14</P>
<P CLASS="H4ind" STYLE=
"mso-style-name: H4_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 9.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
<FONT STYLE="font-weight: normal;">Placement Agent Common Stock
Warrants</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Placement Agent Common Stock Warrants have a five year term
from January 28, 2013 and are exercisable for an aggregate of up to
467,845 shares of the Company&rsquo;s common stock at an initial
per share exercise price of $2.48, subject to adjustment as set
forth below. As of March 20, 2014, there were 367,742 warrants
outstanding. These warrants have a cashless exercise provision. The
Company may also call this warrant for redemption upon written
notice to all warrant holders at any time the closing price of the
common stock exceeds $1.50 (as may be adjusted pursuant to warrant
agreement) for 20 consecutive trading days, as reported by
Bloomberg, provided at such time there is an effective registration
statement covering the resale of the shares underlying the
warrants. In the 60 business days following the date the redemption
notice is deemed given in accordance with the agreement, investors
may choose to exercise this warrant or a portion of the warrant by
paying the then applicable exercise price per share for every share
exercised. Any shares not exercised on the last day of the exercise
period will be redeemed by the Company at $0.001 per share.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The exercise prices of the warrants are subject to adjustment upon
certain events. If the Company at any time while the warrants
remain outstanding and unexpired shall declare a dividend or make a
distribution on the outstanding Common Stock payable in shares of
its capital stock, or split, subdivide or combine the securities as
to which purchase rights under this Warrant exist into a different
number of securities of the same class, the exercise price for such
securities shall be proportionately decreased in the case of a
dividend, split or subdivision or proportionately increased in the
case of a combination.</P>
<P CLASS="Textflush" STYLE=
"margin-bottom: 10.0pt; mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In addition, for so long as there are any warrants outstanding, if
and whenever at any time and from time to time after the warrant
issue date, as applicable, the Company shall issue any shares of
common stock for no consideration or a consideration per share less
than the exercise price, as applicable, then, forthwith upon such
issue or sale, the warrants shall be subject to a proportional
adjustment determined by multiplying such warrant exercise price by
the following fraction:</P>
<TABLE CLASS="MsoNormalTable" BORDER="0" CELLSPACING="0"
CELLPADDING="0" STYLE=
"margin-left: .4pt; border-collapse: collapse; border: 0px solid #000; border-width: 0px; margin: 0 auto;">
<TR>
<TD WIDTH="72" VALIGN="bottom" STYLE=
"width: .75in; border: none; border-bottom: solid windowtext 1.0pt; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT LANG="EN-GB">N(0) +<BR>
N(1)</FONT></P>
</TD>
</TR>
<TR>
<TD WIDTH="72" VALIGN="bottom" STYLE=
"width: .75in; border: none; padding: 0in 0in 0in 0in;">
<P CLASS="Texttable" STYLE=
"line-height: normal; mso-style-name: Texttable; margin: 0in; margin-bottom: .0001pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(0) + N(2)</P>
</TD>
</TR>
</TABLE>
<P CLASS="Textflush" STYLE=
"margin-top: 10.0pt; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Where:</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(0) = the number of shares of common stock outstanding (calculated
on a Fully Diluted Basis) immediately prior to the issuance of such
additional shares of common stock or common stock Equivalents;</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(1) = the number of shares of common stock which the aggregate
consideration, if any (including the aggregate Net Consideration
Per Share with respect to the issuance of common stock
equivalents), received or receivable by the Company for the total
number of such additional shares of common stock so issued or
deemed to be issued would purchase at the warrant exercise price,
as applicable, in effect immediately prior to such issuance;
and</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
N(2) = the number of such additional shares of common stock so
issued or deemed to be issued.</P>
<P CLASS="H4ind" STYLE=
"mso-style-name: H4_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 9.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
<FONT STYLE="font-weight: normal;">Placement Agent December 2013
Offering Warrants</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Placement Agent December 2013 Offering Warrants have a five
year term from January 10, 2014 and are exercisable for an
aggregate of up to 138,265 shares of the Company&rsquo;s common
stock at an initial per share exercise price of $9.00, subject to
adjustment as set forth below. As of March 13, 2014, there were
138,265 warrants outstanding. These warrants have a cashless
exercise provision. The Company may also call this warrant for
redemption upon written notice to all warrant holders at any time
the closing price of the common stock exceeds $15.00 (as may be
adjusted pursuant to warrant agreement) for 20 consecutive trading
days, as</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
15</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
reported by Bloomberg, provided at such time there is an effective
registration statement covering the resale of the shares underlying
the warrants. In the 60 business days following the date the
redemption notice is deemed given in accordance with the agreement,
investors may choose to exercise this warrant or a portion of the
warrant by paying the then applicable exercise price per share for
every share exercised. Any shares not exercised on the last day of
the exercise period will be redeemed by the Company at $0.001 per
share.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The exercise prices of the warrants are subject to adjustment upon
certain events. If the Company at any time while the warrants
remain outstanding and unexpired shall declare a dividend or make a
distribution on the outstanding Common Stock payable in shares of
its capital stock, or split, subdivide or combine the securities as
to which purchase rights under this Warrant exist into a different
number of securities of the same class, the exercise price for such
securities shall be proportionately decreased in the case of a
dividend, split or subdivision or proportionately increased in the
case of a combination.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Registration
Rights</FONT></P>
<P CLASS="H4ind" STYLE=
"mso-style-name: H4_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 9.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
<FONT STYLE="font-weight: normal;">December 2013 Private
Placement</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
On December 27, 2013 and January 10, 2014, in connection with our
private placement of common stock and warrants, we entered into a
registration rights agreement with the purchasers pursuant to which
we agreed to provide certain registration rights with respect to
the common stock and common stock issuable upon exercise of the
warrants.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
A registration statement was filed in satisfaction of the
requirements of the registration rights agreement, was declared
effective on February 13, 2014 and remains in effect. Pursuant to
the registration rights agreement, we must maintain the
effectiveness of these registration statement from the effective
date until the date on which all securities registered under the
applicable registration statement have been sold, or are otherwise
able to be sold pursuant to Rule 144 without volume or
manner-of-sale restrictions, subject to the our right to suspend or
defer the use of the registration statement in certain events.</P>
<P CLASS="H4ind" STYLE=
"mso-style-name: H4_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 9.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
<FONT STYLE="font-weight: normal;">December 2012 Private
Placement</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
On December 19, 2012, in connection with our private placement of
common stock and warrants, we entered into a registration rights
agreement with the purchasers pursuant to which we agreed to
provide certain registration rights with respect to the common
stock and common stock issuable upon exercise of the warrants.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
A registration statement was filed in satisfaction of the
requirements of the registration rights agreement, was declared
effective on November 8, 2013 and remains in effect. Pursuant to
the registration rights agreement, we must maintain the
effectiveness of these registration statement from the effective
date until the date on which all securities registered under the
applicable registration statement have been sold, or are otherwise
able to be sold pursuant to Rule 144 without volume or
manner-of-sale restrictions, subject to the our right to suspend or
defer the use of the registration statement in certain events.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Delaware Anti-Takeover
Law, Provisions of our Certificate of Incorporation and
Bylaws</FONT></P>
<P CLASS="H4ind" STYLE=
"mso-style-name: H4_ind; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-indent: 9.0pt; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Italic; color: black; font-style: italic;">
<FONT CLASS="BoldItalic" STYLE=
'mso-style-name: "Bold Italic"; font-weight: bold; font-style: italic;'>
<FONT STYLE="font-weight: normal;">Delaware Anti-Takeover
Law</FONT></FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We are subject to Section 203 of the Delaware General Corporation
Law. Section 203 generally prohibits a public Delaware corporation
from engaging in a &ldquo;business combination&rdquo; with an
&ldquo;interested stockholder&rdquo; for a period of three years
after the date of the transaction in which the person became an
interested stockholder, unless:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> prior to the date of
the transaction, the board of directors of the corporation approved
either the business combination or the transaction which resulted
in the stockholder becoming an interested stockholder;</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
16</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the interested
stockholder owned at least 85% of the voting stock of the
corporation outstanding at the time the transaction commenced,
excluding for purposes of determining the number of shares
outstanding (i) shares owned by persons who are directors and also
officers and (ii) shares owned by employee stock plans in which
employee participants do not have the right to determine
confidentially whether shares held subject to the plan will be
tendered in a tender or exchange offer; or</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> on or subsequent to
the date of the transaction, the business combination is approved
by the board and authorized at an annual or special meeting of
stockholders, and not by written consent, by the affirmative vote
of at least 66 2/3% of the outstanding voting stock which is not
owned by the interested stockholder.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Section 203 defines a business combination to include:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any merger or
consolidation involving the corporation and the interested
stockholder;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any sale, transfer,
pledge or other disposition involving the interested stockholder of
10% or more of the assets of the corporation;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> subject to
exceptions, any transaction that results in the issuance or
transfer by the corporation of any stock of the corporation to the
interested stockholder; or</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the receipt by the
interested stockholder of the benefit of any loans, advances,
guarantees, pledges or other financial benefits provided by or
through the corporation.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In general, Section 203 defines an interested stockholder as any
entity or person beneficially owning 15% or more of the outstanding
voting stock of the corporation and any entity or person affiliated
with, or controlling, or controlled by, the entity or person. The
term &ldquo;owner&rdquo; is broadly defined to include any person
that, individually, with or through that person&rsquo;s affiliates
or associates, among other things, beneficially owns the stock, or
has the right to acquire the stock, whether or not the right is
immediately exercisable, under any agreement or understanding or
upon the exercise of warrants or options or otherwise or has the
right to vote the stock under any agreement or understanding, or
has an agreement or understanding with the beneficial owner of the
stock for the purpose of acquiring, holding, voting or disposing of
the stock.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT STYLE="letter-spacing: .05pt;">The restrictions in Section
203 do not apply to corporations that have elected, in the manner
provided in Section 203, not to be subject to Section 203 of the
Delaware General Corporation Law or, with certain exceptions, which
do not have a class of voting stock that is listed on a national
securities exchange or authorized for quotation on the Nasdaq Stock
Market or held of record by more than 2,000 stockholders. Our
certificate of incorporation and bylaws do not opt out of Section
203.</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Section 203 could delay or prohibit mergers or other takeover or
change in control attempts with respect to us and, accordingly, may
discourage attempts to acquire us even though such a transaction
may offer our stockholders the opportunity to sell their stock at a
price above the prevailing market price.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Certificate of
Incorporation and Bylaws</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Provisions of our certificate of incorporation and bylaws may delay
or discourage transactions involving an actual or potential change
in our control or change in our management, including transactions
in which stockholders might otherwise receive a premium for their
shares, or transactions that our stockholders might otherwise deem
to be in their best interests. Therefore, these provisions could
adversely affect the price of our common stock. Among other things,
our certificate of incorporation and bylaws:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> permit our board of
directors to issue up to 50,000,000 shares of preferred stock,
without further action by the stockholders, with any rights,
preferences and privileges as they may designate, including the
right to approve an acquisition or other change in control;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> provide that the
authorized number of directors may be changed only by the prior
consent of the placement agent for the our 2012 common stock
offering for a period ending on December 28, 2014;</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
17</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> provide that all
vacancies, including newly created directorships, may, except as
otherwise required by law, be filled by the affirmative vote of a
majority of directors then in office;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> divide our board of
directors into three classes, with each class serving staggered
three-year terms, with such three year term commencing on the
election of a director on and after the 2014 annual meeting;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> do not provide for
cumulative voting rights (therefore allowing the holders of a
majority of the shares of common stock entitled to vote in any
election of directors to elect all of the directors standing for
election, if they should so choose);</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> provide that special
meetings of our stockholders may be called only by our Chairman of
the Board, board of directors, president and chief executive
officer; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> set forth an advance
notice procedure with regard to business to be brought before a
meeting of stockholders.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
18</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Description of Debt Securities</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may issue debt securities from time to time, in one or more
series, as either senior or subordinated debt or as senior or
subordinated convertible debt. While the terms we have summarized
below will apply generally to any debt securities that we may offer
under this prospectus, we will describe the particular terms of any
debt securities that we may offer in more detail in the applicable
prospectus supplement. The terms of any debt securities offered
under a prospectus supplement may differ from the terms described
below. Unless the context requires otherwise, whenever we refer to
the indenture, we are also referring to any supplemental indentures
that specify the terms of a particular series of debt
securities.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We will issue the debt securities under the indenture that we will
enter into with the trustee named in the indenture. The indenture
will be qualified under the Trust Indenture Act of 1939, as amended
(&ldquo;<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Trust Indenture
Act</FONT>&rdquo;). We have filed the form of indenture as an
exhibit to the registration statement of which this prospectus is a
part, and supplemental indentures and forms of debt securities
containing the terms of the debt securities being offered will be
filed as exhibits to the registration statement of which this
prospectus is a part or will be incorporated by reference from
reports that we file with the SEC.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The following summary of material provisions of the debt securities
and the indenture is subject to, and qualified in its entirety by
reference to, all of the provisions of the indenture applicable to
a particular series of debt securities. We urge you to read the
applicable prospectus supplements and any related free writing
prospectuses related to the debt securities that we may offer under
this prospectus, as well as the complete indenture that contains
the terms of the debt securities.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">General Terms of the
Indenture</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The indenture does not limit the amount of debt securities that we
may issue. It provides that we may issue debt securities up to the
principal amount that we may authorize and may be in any currency
or currency unit designated by us. Except for the limitations on
consolidation, merger and sale of all or substantially all of our
assets contained in the indenture, the terms of the indenture do
not contain any covenants or other provisions designed to afford
holders of any debt securities protection with respect to our
operations, financial condition or transactions involving us.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may issue the debt securities issued under the indenture as
&ldquo;discount securities,&rdquo; which means they may be sold at
a discount below their stated principal amount. These debt
securities, as well as other debt securities that are not issued at
a discount, may, for U.S. federal income tax purposes, be treated
as if they were issued with &ldquo;original issue discount,&rdquo;
or &ldquo;OID,&rdquo; because of interest payment and other
characteristics. Special U.S. federal income tax considerations
applicable to debt securities issued with original issue discount
will be described in more detail in any applicable prospectus
supplement.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We will describe in the applicable prospectus supplement the terms
of the series of debt securities being offered, including:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the title of the
series of debt securities;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any limit upon the
aggregate principal amount that may be issued;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the maturity date or
dates;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the form of the debt
securities of the series;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the applicability of
any guarantees;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether or not the
debt securities will be secured or unsecured, and the terms of any
secured debt;</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
19</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether the debt
securities rank as senior debt, senior subordinated debt,
subordinated debt or any combination thereof, and the terms of any
subordination;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> if the price
(expressed as a percentage of the aggregate principal amount
thereof) at which such debt securities will be issued is a price
other than the principal amount thereof, the portion of the
principal amount thereof payable upon declaration of acceleration
of the maturity thereof, or if applicable, the portion of the
principal amount of such debt securities that is convertible into
another security or the method by which any such portion shall be
determined;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the interest rate or
rates, which may be fixed or variable, or the method for
determining the rate and the date interest will begin to accrue,
the dates interest will be payable and the regular record dates for
interest payment dates or the method for determining such
dates;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> our right, if any,
to defer payment of interest and the maximum length of any such
deferral period;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> if applicable, the
date or dates after which, or the period or periods during which,
and the price or prices at which, we may, at our option, redeem the
series of debt securities pursuant to any optional or provisional
redemption provisions and the terms of those redemption
provisions;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the date or dates,
if any, on which, and the price or prices at which we are
obligated, pursuant to any mandatory sinking fund or analogous fund
provisions or otherwise, to redeem, or at the holder&rsquo;s option
to purchase, the series of debt securities and the currency or
currency unit in which the debt securities are payable;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the denominations in
which we will issue the series of debt securities, if other than
denominations of $1,000, and any integral multiple thereof;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any and all terms,
if applicable, relating to any auction or remarketing of the debt
securities of that series and any security for our obligations with
respect to such debt securities and any other terms which may be
advisable in connection with the marketing of debt securities of
that series;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether the debt
securities of the series shall be issued in whole or in part in the
form of a global security or securities; the terms and conditions,
if any, upon which such global security or securities may be
exchanged in whole or in part for other individual securities; and
the depositary for such global security or securities;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> if applicable, the
provisions relating to conversion or exchange of any debt
securities of the series and the terms and conditions upon which
such debt securities will be so convertible or exchangeable,
including the conversion or exchange price, as applicable, or how
it will be calculated and may be adjusted, any mandatory or
optional (at our option or the holders&rsquo; option) conversion or
exchange features, the applicable conversion or exchange period and
the manner of settlement for any conversion or exchange;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> if other than the
full principal amount thereof, the portion of the principal amount
of debt securities of the series which shall be payable upon
declaration of acceleration of the maturity thereof;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> additions to or
changes in the covenants applicable to the particular debt
securities being issued, including, among others, the
consolidation, merger or sale covenant;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> additions to or
changes in the events of default with respect to the securities and
any change in the right of the trustee or the holders to declare
the principal, premium, if any, and interest, if any, with respect
to such securities to be due and payable;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> additions to or
changes in or deletions of the provisions relating to covenant
defeasance and legal defeasance;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> additions to or
changes in the provisions relating to satisfaction and discharge of
the indenture;</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
20</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> additions to or
changes in the provisions relating to the modification of the
indenture both with and without the consent of holders of debt
securities issued under the indenture;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the currency of
payment of debt securities if other than U.S. dollars and the
manner of determining the equivalent amount in U.S. dollars;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether interest
will be payable in cash or additional debt securities at our or the
holders&rsquo; option and the terms and conditions upon which the
election may be made;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the terms and
conditions, if any, upon which we will pay amounts in addition to
the stated interest, premium, if any, and principal amounts of the
debt securities of the series to any holder that is not a
&ldquo;United States person&rdquo; for federal tax purposes;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any restrictions on
transfer, sale or assignment of the debt securities of the series;
and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any other specific
terms, preferences, rights or limitations of, or restrictions on,
the debt securities, any other additions or changes in the
provisions of the indenture, and any terms that may be required by
us or advisable under applicable laws or regulations.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Conversion or Exchange
Rights</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We will set forth in the prospectus supplement the terms on which a
series of debt securities may be convertible into or exchangeable
for our common stock or our other securities. We will include
provisions as to settlement upon conversion or exchange and whether
conversion or exchange is mandatory, at the option of the holder or
at our option. We may include provisions pursuant to which the
number of shares of our common stock or our other securities that
the holders of the series of debt securities receive would be
subject to adjustment.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Consolidation, Merger or
Sale</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Unless we provide otherwise in the prospectus supplement applicable
to a particular series of debt securities, the indenture will not
contain any covenant that restricts our ability to merge or
consolidate, or sell, convey, transfer or otherwise dispose of our
assets as an entirety or substantially as an entirety. However, any
successor to or acquirer of such assets (other than a subsidiary of
ours) must assume all of our obligations under the indenture or the
debt securities, as appropriate.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Events of Default Under
the Indenture</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Unless we provide otherwise in the prospectus supplement applicable
to a particular series of debt securities, the following are events
of default under the indenture with respect to any series of debt
securities that we may issue:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> if we fail to pay
any installment of interest on any debt securities of that series,
as and when the same shall become due and payable, and such default
continues for a period of 90 days; provided, however, that a valid
extension of an interest payment period by us in accordance with
the terms of any indenture supplemental thereto shall not
constitute a default in the payment of interest for this
purpose;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> if we fail to pay
the principal of (or premium, if any) on any debt securities of
that series as and when the same shall become due and payable
whether at maturity, upon redemption, by declaration or otherwise,
or in any payment required by any sinking or analogous fund
established with respect to that series; provided, however, that a
valid extension of the maturity of such debt securities in
accordance with the terms of any indenture supplemental thereto
shall not constitute a default in the payment of principal or
premium, if any;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> if we fail to
observe or perform any other covenant or agreement with respect to
that series contained in the indenture or otherwise established
with respect to that series pursuant to the indenture, other than a
covenant or agreement specifically included solely for the benefit
of one or more debt securities other than that series, and our
failure continues for 90 days after we receive written notice of
such failure, requiring</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
21</P>
<P CLASS="BLm" STYLE=
"text-indent: 0in; mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
the same to be remedied and stating that such is a notice of
default thereunder, from the trustee or holders of at least 25% in
aggregate principal amount of the outstanding debt securities of
the applicable series; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> if specified events
of bankruptcy, insolvency or reorganization occur.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
If an event of default with respect to debt securities of any
series occurs and is continuing, other than an event of default
described in the last bullet point above, the trustee or the
holders of at least 25% in aggregate principal amount of the
outstanding debt securities of that series, by notice to us in
writing, and to the trustee if notice is given by such holders, may
declare the unpaid principal of (premium, if any) and accrued and
unpaid interest, if any, due and payable immediately. If an event
of default specified in the last bullet point above occurs with
respect to us, the principal amount of and accrued interest, if
any, of that series shall be automatically due and payable without
any declaration or other action on the part of the trustee or any
holder.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The holders of a majority in principal amount of the outstanding
debt securities of an affected series may waive any default or
event of default with respect to the series and its consequences,
except defaults or events of default regarding payment of
principal, premium, if any, or interest, unless we have cured the
default or event of default in accordance with the indenture. Any
waiver shall cure the default or event of default.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Subject to the terms of the indenture, if an event of default under
an indenture shall occur and be continuing, the trustee will be
under no obligation to exercise any of its rights or powers under
such indenture at the request or direction of any of the holders of
the applicable series of debt securities, unless such holders have
offered the trustee reasonable indemnity. The holders of a majority
in principal amount of the outstanding debt securities of any
series will have the right to direct the time, method and place of
conducting any proceeding for any remedy available to the trustee,
or exercising any trust or power conferred on the trustee, with
respect to the debt securities of that series, provided that:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the direction so
given by the holder is not in conflict with any law or the
applicable indenture; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> subject to its
duties under the Trust Indenture Act, the trustee need not take any
action that might involve it in personal liability or might be
unduly prejudicial to the holders not involved in the
proceeding.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
A holder of the debt securities of any series will have the right
to institute a proceeding under the indenture or to appoint a
receiver or trustee, or to seek other remedies only if:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the holder has given
written notice to the trustee of a continuing event of default with
respect to that series;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the holders of at
least 25% in aggregate principal amount of the outstanding debt
securities of that series have made written request;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> such holders have
offered to the trustee indemnity satisfactory to it against the
costs, expenses and liabilities to be incurred by the trustee in
compliance with the request; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the trustee does not
institute the proceeding, and does not receive from the holders of
a majority in aggregate principal amount of the outstanding debt
securities of that series other inconsistent directions within 90
days after the notice, request and offer.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
These limitations do not apply to a suit instituted by a holder of
debt securities if we default in the payment of the principal,
premium, if any, or interest on, the debt securities.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We will periodically file statements with the trustee regarding our
compliance with specified covenants in the indenture.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
22</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Modification of
Indenture; Waiver</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We and the trustee may change an indenture without the consent of
any holders with respect to specific matters:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> to cure any
ambiguity, defect or inconsistency in the indenture or in the debt
securities of any series;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> to comply with the
provisions described above under &ldquo;Description of Debt
Securities&mdash;Consolidation, Merger or Sale;&rdquo;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> to provide for
uncertificated debt securities in addition to or in place of
certificated debt securities;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> to add to our
covenants, restrictions, conditions or provisions such new
covenants, restrictions, conditions or provisions for the benefit
of the holders of all or any series of debt securities, to make the
occurrence, or the occurrence and the continuance, of a default in
any such additional covenants, restrictions, conditions or
provisions an event of default or to surrender any right or power
conferred upon us in the indenture;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> to add to, delete
from or revise the conditions, limitations, and restrictions on the
authorized amount, terms, or purposes of issue, authentication and
delivery of debt securities, as set forth in the indenture;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> to make any change
that does not adversely affect the interests of any holder of debt
securities of any series in any material respect;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> to provide for the
issuance of and establish the form and terms and conditions of the
debt securities of any series as provided above under
&ldquo;Description of Debt Securities&mdash;General&rdquo; to
establish the form of any certifications required to be furnished
pursuant to the terms of the indenture or any series of debt
securities, or to add to the rights of the holders of any series of
debt securities;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> to evidence and
provide for the acceptance of appointment under any indenture by a
successor trustee; or</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> to comply with any
requirements of the SEC in connection with the qualification of any
indenture under the Trust Indenture Act.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In addition, under the indenture, the rights of holders of a series
of debt securities may be changed by us and the trustee with the
written consent of the holders of at least a majority in aggregate
principal amount of the outstanding debt securities of each series
that is affected. However, unless we provide otherwise in the
prospectus supplement applicable to a particular series of debt
securities, we and the trustee may make the following changes only
with the consent of each holder of any outstanding debt securities
affected:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> extending the fixed
maturity of any debt securities of any series;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> reducing the
principal amount, reducing the rate of or extending the time of
payment of interest, or reducing any premium payable upon the
redemption of any series of any debt securities; or</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> reducing the
percentage of debt securities, the holders of which are required to
consent to any amendment, supplement, modification or waiver.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Discharge</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Each indenture provides that we can elect to be discharged from our
obligations with respect to one or more series of debt securities,
except for specified obligations, including obligations to:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> provide for
payment;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> register the
transfer or exchange of debt securities of the series;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> replace stolen, lost
or mutilated debt securities of the series;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> pay principal of and
premium and interest on any debt securities of the series;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> maintain paying
agencies;</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
23</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> hold monies for
payment in trust;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> recover excess money
held by the trustee;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> compensate and
indemnify the trustee; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> appoint any
successor trustee.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In order to exercise our rights to be discharged, we must deposit
with the trustee money or government obligations sufficient to pay
all the principal of, any premium, if any, and interest on, the
debt securities of the series on the dates payments are due.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Form, Exchange and
Transfer</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We will issue the debt securities of each series only in fully
registered form without coupons and, unless we provide otherwise in
the applicable prospectus supplement, in denominations of $1,000
and any integral multiple thereof. The indenture provides that we
may issue debt securities of a series in temporary or permanent
global form and as book-entry securities that will be deposited
with, or on behalf of, The Depository Trust Company, or DTC, or
another depositary named by us and identified in a prospectus
supplement with respect to that series. To the extent the debt
securities of a series are issued in global form and as book-entry,
a description of terms relating will be set forth in the applicable
prospectus supplement.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
At the option of the holder, subject to the terms of the indenture
and the limitations applicable to global securities described in
the applicable prospectus supplement, the holder of the debt
securities of any series can exchange the debt securities for other
debt securities of the same series, in any authorized denomination
and of like tenor and aggregate principal amount.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Subject to the terms of the indenture and the limitations
applicable to global securities set forth in the applicable
prospectus supplement, holders of the debt securities may present
the debt securities for exchange or for registration of transfer,
duly endorsed or with the form of transfer endorsed thereon duly
executed if so required by us or the security registrar, at the
office of the security registrar or at the office of any transfer
agent designated by us for this purpose. Unless otherwise provided
in the debt securities that the holder presents for transfer or
exchange, we will impose no service charge for any registration of
transfer or exchange, but we may require payment of any taxes or
other governmental charges.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We will name in the applicable prospectus supplement the security
registrar, and any transfer agent in addition to the security
registrar, that we initially designate for any debt securities. We
may at any time designate additional transfer agents or rescind the
designation of any transfer agent or approve a change in the office
through which any transfer agent acts, except that we will be
required to maintain a transfer agent in each place of payment for
the debt securities of each series.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
If we elect to redeem the debt securities of any series, we will
not be required to:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> issue, register the
transfer of, or exchange any debt securities of that series during
a period beginning at the opening of business 15 days before the
day of mailing of a notice of redemption of any debt securities
that may be selected for redemption and ending at the close of
business on the day of the mailing; or</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> register the
transfer of or exchange any debt securities so selected for
redemption, in whole or in part, except the unredeemed portion of
any debt securities we are redeeming in part.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Information Concerning
the Trustee</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The trustee, other than during the occurrence and continuance of an
event of default under an indenture, undertakes to perform only
those duties as are specifically set forth in the applicable
indenture. Upon an event of default under an indenture, the trustee
must use the same degree of care as a prudent person would
exercise</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
24</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
or use in the conduct of his or her own affairs. Subject to this
provision, the trustee is under no obligation to exercise any of
the powers given it by the indenture at the request of any holder
of debt securities unless it is offered reasonable security and
indemnity against the costs, expenses and liabilities that it might
incur.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Payment and Paying
Agents</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Unless we otherwise indicate in the applicable prospectus
supplement, we will make payment of the interest on any debt
securities on any interest payment date to the person in whose name
the debt securities, or one or more predecessor securities, are
registered at the close of business on the regular record date for
the interest.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We will pay principal of and any premium and interest on the debt
securities of a particular series at the office of the paying
agents designated by us, except that unless we otherwise indicate
in the applicable prospectus supplement, we will make interest
payments by check that we will mail to the holder or by wire
transfer to certain holders. Unless we otherwise indicate in the
applicable prospectus supplement, we will designate the corporate
trust office of the trustee as our sole paying agent for payments
with respect to debt securities of each series. We will name in the
applicable prospectus supplement any other paying agents that we
initially designate for the debt securities of a particular series.
We will maintain a paying agent in each place of payment for the
debt securities of a particular series.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
All money we pay to a paying agent or the trustee for the payment
of the principal of or any premium or interest on any debt
securities that remains unclaimed at the end of two years after
such principal, premium or interest has become due and payable (or
such shorter period set forth in applicable escheat, abandoned or
unclaimed property law) will be repaid to us, and the holder of the
debt security thereafter may look only to us for payment
thereof.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Governing Law</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The indenture and the debt securities will be governed by and
construed in accordance with the laws of the State of New York,
except to the extent that the Trust Indenture Act is
applicable.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
25</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Description of Warrants</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
As of March 13, 2014, there were 9,391,044 shares of common stock
that may be issued upon exercise of outstanding warrants.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may issue warrants for the purchase of debt securities, common
stock or preferred stock in one or more series. We may issue
warrants independently or together with debt securities, common
stock or preferred stock, and the warrants may be attached to or
separate from these securities.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We will evidence each series of warrants by warrant certificates
that we may issue under a separate agreement. We may enter into a
warrant agreement with a warrant agent. Each warrant agent may be a
bank that we select which has its principal office in the United
States. We may also choose to act as our own warrant agent. We will
indicate the name and address of any such warrant agent in the
applicable prospectus supplement relating to a particular series of
warrants.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We will describe in the applicable prospectus supplement the terms
of the series of warrants, including:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the offering price
and aggregate number of warrants offered;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> if applicable, the
designation and terms of the securities with which the warrants are
issued and the number of warrants issued with each such security or
each principal amount of such security;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> if applicable, the
date on and after which the warrants and the related securities
will be separately transferable;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> in the case of
warrants to debt securities, purchase common stock or preferred
stock, the number or amount of shares of common stock or preferred
stock, as the case may be, purchasable upon the exercise of one
warrant and the price at which and currency in which these shares
may be purchased upon such exercise;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the manner of
exercise of the warrants, including any cashless exercise
rights;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the warrant
agreement under which the warrants will be issued;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the effect of any
merger, consolidation, sale or other disposition of our business on
the warrant agreement and the warrants;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> anti-dilution
provisions of the warrants, if any;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the terms of any
rights to redeem or call the warrants;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any provisions for
changes to or adjustments in the exercise price or number of
securities issuable upon exercise of the warrants;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the dates on which
the right to exercise the warrants will commence and expire or, if
the warrants are not continuously exercisable during that period,
the specific date or dates on which the warrants will be
exercisable;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the manner in which
the warrant agreement and warrants may be modified;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the identities of
the warrant agent and any calculation or other agent for the
warrants;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> federal income tax
consequences of holding or exercising the warrants;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the terms of the
securities issuable upon exercise of the warrants;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any securities
exchange or quotation system on which the warrants or any
securities deliverable upon exercise of the warrants may be listed
or quoted; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any other specific
terms, preferences, rights or limitations of or restrictions on the
warrants.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
26</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Before exercising their warrants, holders of warrants will not have
any of the rights of holders of the securities purchasable upon
such exercise, including, in the case of warrants to purchase
common stock or preferred stock, the right to receive dividends, if
any, or, payments upon our liquidation, dissolution or winding up
or to exercise voting rights, if any.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Exercise of
Warrants</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Each warrant will entitle the holder to purchase the securities
that we specify in the applicable prospectus supplement at the
exercise price that we describe in the applicable prospectus
supplement. Unless we otherwise specify in the applicable
prospectus supplement, holders of the warrants may exercise the
warrants at any time up to 5:00 P.M. eastern time, the close of
business, on the expiration date that we set forth in the
applicable prospectus supplement. After the close of business on
the expiration date, unexercised warrants will become void.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Holders of the warrants may exercise the warrants by delivering the
warrant certificate representing the warrants to be exercised
together with specified information, and paying the required
exercise price by the methods provided in the applicable prospectus
supplement. We will set forth on the reverse side of the warrant
certificate, and in the applicable prospectus supplement, the
information that the holder of the warrant will be required to
deliver to the warrant agent.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Upon receipt of the required payment and the warrant certificate
properly completed and duly executed at the corporate trust office
of the warrant agent or any other office indicated in the
applicable prospectus supplement, we will issue and deliver the
securities purchasable upon such exercise. If fewer than all of the
warrants represented by the warrant certificate are exercised, then
we will issue a new warrant certificate for the remaining amount of
warrants.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Enforceability of Rights
By Holders of Warrants</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Any warrant agent will act solely as our agent under the applicable
warrant agreement and will not assume any obligation or
relationship of agency or trust with any holder of any warrant. A
single bank or trust company may act as warrant agent for more than
one issue of warrants. A warrant agent will have no duty or
responsibility in case of any default by us under the applicable
warrant agreement or warrant, including any duty or responsibility
to initiate any proceedings at law or otherwise, or to make any
demand upon us. Any holder of a warrant may, without the consent of
the related warrant agent or the holder of any other warrant,
enforce by appropriate legal action the holder&rsquo;s right to
exercise, and receive the securities purchasable upon exercise of,
its warrants in accordance with their terms.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Warrant Agreement Will
Not Be Qualified Under Trust Indenture Act</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
No warrant agreement will be qualified as an indenture, and no
warrant agent will be required to qualify as a trustee, under the
Trust Indenture Act. Therefore, holders of warrants issued under a
warrant agreement will not have the protection of the Trust
Indenture Act with respect to their warrants.</P>
<P CLASS="H2" STYLE=
"mso-style-name: H2; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; page-break-after: avoid; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
<FONT CLASS="Bold" STYLE=
"mso-style-name: Bold; font-weight: bold;">Governing Law</FONT></P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Each warrant agreement and any warrants issued under the warrant
agreements will be governed by New York law.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
27</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Description of Rights</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may issue rights to our stockholders to purchase shares of our
common stock or preferred stock. We may offer rights separately or
together with one or more additional rights, debt securities,
preferred stock, common stock or warrants, or any combination of
those securities in the form of units, as described in the
applicable prospectus supplement. Each series of rights will be
issued under a separate rights agreement to be entered into between
us and a bank or trust company, as rights agent. The rights agent
will act solely as our agent in connection with the certificates
relating to the rights of the series of certificates and will not
assume any obligation or relationship of agency or trust for or
with any holders of rights certificates or beneficial owners of
rights. The following description sets forth certain general terms
and provisions of the rights to which any prospectus supplement may
relate. The particular terms of the rights to which any prospectus
supplement may relate and the extent, if any, to which the general
provisions may apply to the rights so offered will be described in
the applicable prospectus supplement. To the extent that any
particular terms of the rights, rights agreement or rights
certificates described in a prospectus supplement differ from any
of the terms described below, then the terms described below will
be deemed to have been superseded by that prospectus supplement. We
encourage you to read the applicable rights agreement and rights
certificate for additional information before you decide whether to
purchase any of our rights.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We will provide in a prospectus supplement the following terms of
the rights being issued:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the date on which
stockholders entitled to the rights distribution will be
determined;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the aggregate number
of shares of common stock or preferred stock purchasable upon
exercise of the rights;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the exercise
price;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the aggregate number
of rights issued;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the date, if any, on
and after which the rights will be separately transferable;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the date on which
the ability to exercise the rights will commence, and the date on
which such ability will expire;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the conditions to
the completion of the offering, if any;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the withdrawal,
termination and cancellation rights, if any;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any applicable
material U.S. federal income tax considerations; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any other terms of
the rights, including terms, procedures and limitations relating to
the distribution, exchange and exercise of the rights.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Each right will entitle the holder of rights to purchase, for cash,
the number of shares of common stock or preferred stock at the
exercise price provided in the applicable prospectus supplement.
Rights may be exercised at any time up to the close of business on
the expiration date for the rights provided in the applicable
prospectus supplement.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Holders may exercise rights as described in the applicable
prospectus supplement. Upon receipt of payment and the rights
certificate properly completed and duly executed at the corporate
trust office of the rights agent or any other office indicated in
the prospectus supplement, we will, as soon as practicable, forward
the shares of common stock or preferred stock, as applicable,
purchasable upon exercise of the rights. If less than all of the
rights issued in any rights offering are exercised, we may offer
any unsubscribed securities directly to persons other than
stockholders, to or through agents, underwriters or dealers or
through a combination of such methods, including pursuant to
standby arrangements, as described in the applicable prospectus
supplement.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
28</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Description of Purchase Contracts</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may issue purchase contracts, including contracts obligating
holders to purchase from us, and for us to sell to holders, a
specific or variable number of our debt securities, shares of
common stock, preferred stock, warrants or rights, or securities of
an entity unaffiliated with us, or any combination of the above, at
a future date or dates. Alternatively, the purchase contracts may
obligate us to purchase from holders, and obligate holders to sell
to us, a specific or variable number of our debt securities, shares
of common stock, preferred stock, warrants, rights or other
property, or any combination of the above. The price of the
securities or other property subject to the purchase contracts may
be fixed at the time the purchase contracts are issued or may be
determined by reference to a specific formula described in the
purchase contracts. We may issue purchase contracts separately or
as a part of units each consisting of a purchase contract and one
or more of our other securities described in this prospectus or
securities of third parties, including U.S. Treasury securities,
securing the holder&rsquo;s obligations under the purchase
contract. The purchase contracts may require us to make periodic
payments to holders or vice versa and the payments may be unsecured
or pre-funded on some basis. The purchase contracts may require
holders to secure the holder&rsquo;s obligations in a manner
specified in the applicable prospectus supplement.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The applicable prospectus supplement will describe the terms of any
purchase contracts in respect of which this prospectus is being
delivered, including, to the extent applicable, the following:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether the purchase
contracts obligate the holder or us to purchase or sell, or both
purchase and sell, the securities subject to purchase under the
purchase contract, and the nature and amount of each of those
securities, or the method of determining those amounts;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether the purchase
contracts are to be prepaid;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether the purchase
contracts are to be settled by delivery, or by reference or linkage
to the value, performance or level of the securities subject to
purchase under the purchase contract;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any acceleration,
cancellation, termination or other provisions relating to the
settlement of the purchase contracts;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any applicable
federal income tax considerations; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether the purchase
contracts will be issued in fully registered or global form.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The preceding description sets forth certain general terms and
provisions of the purchase contracts to which any prospectus
supplement may relate. The particular terms of the purchase
contracts to which any prospectus supplement may relate and the
extent, if any, to which the general provisions may apply to the
purchase contracts so offered will be described in the applicable
prospectus supplement. To the extent that any particular terms of
the purchase contracts described in a prospectus supplement differ
from any of the terms described above, then the terms described
above will be deemed to have been superseded by that prospectus
supplement. We encourage you to read the applicable purchase
contract for additional information before you decide whether to
purchase any of our purchase contracts.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
29</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Description of Units</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may issue units comprised of one or more of the other securities
described in this prospectus or any prospectus supplement in any
combination. Each unit will be issued so that the holder of the
unit is also the holder, with the rights and obligations of a
holder, of each security included in the unit. The unit agreement
under which a unit is issued may provide that the securities
included in the unit may not be held or transferred separately, at
any time or at any times before a specified date or upon the
occurrence of a specified event or occurrence.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The applicable prospectus supplement will describe:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the designation and
the terms of the units and of the securities comprising the units,
including whether and under what circumstances those securities may
be held or transferred separately;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any unit agreement
under which the units will be issued;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any provisions for
the issuance, payment, settlement, transfer or exchange of the
units or of the securities comprising the units; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> whether the units
will be issued in fully registered or global form.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
30</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Plan of Distribution</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may sell the securities being offered pursuant to this
prospectus to or through underwriters, through dealers, through
agents, or directly to one or more purchasers or through a
combination of these methods. The applicable prospectus supplement
will describe the terms of the offering of the securities,
including:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the name or names of
any underwriters, if any, and if required, any dealers or
agents;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> the purchase price
of the securities and the proceeds we will receive from the
sale;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any underwriting
discounts and other items constituting underwriters&rsquo;
compensation;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any discounts or
concessions allowed or re-allowed or paid to dealers; and</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> any securities
exchange or market on which the securities may be listed or
traded.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may distribute the securities from time to time in one or more
transactions at:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> a fixed price or
prices, which may be changed;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> market prices
prevailing at the time of sale, directly by us or through a
designated agent;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> prices related to
such prevailing market prices; or</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> negotiated
prices.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Only underwriters named in the prospectus supplement are
underwriters of the securities offered by the prospectus
supplement.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
If underwriters are used in an offering, we will execute an
underwriting agreement with such underwriters and will specify the
name of each underwriter and the terms of the transaction
(including any underwriting discounts and other terms constituting
compensation of the underwriters and any dealers) in a prospectus
supplement. The securities may be offered to the public either
through underwriting syndicates represented by managing
underwriters or directly by one or more investment banking firms or
others, as designated. If an underwriting syndicate is used, the
managing underwriter(s) will be specified on the cover of the
prospectus supplement. If underwriters are used in the sale, the
offered securities will be acquired by the underwriters for their
own accounts and may be resold from time to time in one or more
transactions, including negotiated transactions, at a fixed public
offering price or at varying prices determined at the time of sale.
Any public offering price and any discounts or concessions allowed
or reallowed or paid to dealers may be changed from time to time.
Unless otherwise set forth in the prospectus supplement, the
obligations of the underwriters to purchase the offered securities
will be subject to conditions precedent, and the underwriters will
be obligated to purchase all of the offered securities, if any are
purchased.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may grant to the underwriters options to purchase additional
securities to cover over-allotments, if any, at the public offering
price, with additional underwriting commissions or discounts, as
may be set forth in a related prospectus supplement. The terms of
any over-allotment option will be set forth in the prospectus
supplement for those securities.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
If we use a dealer in the sale of the securities being offered
pursuant to this prospectus or any prospectus supplement, we will
sell the securities to the dealer, as principal. The dealer may
then resell the securities to the public at varying prices to be
determined by the dealer at the time of resale. The names of the
dealers and the terms of the transaction will be specified in a
prospectus supplement.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may sell the securities directly or through agents we designate
from time to time. We will name any agent involved in the offering
and sale of securities and we will describe any commissions we will
pay the agent in the prospectus supplement. Unless the prospectus
supplement states otherwise, any agent will act on a best-efforts
basis for the period of its appointment.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
31</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may authorize agents or underwriters to solicit offers by
institutional investors to purchase securities from us at the
public offering price set forth in the prospectus supplement
pursuant to delayed delivery contracts providing for payment and
delivery on a specified date in the future. We will describe the
conditions to these contracts and the commissions we must pay for
solicitation of these contracts in the prospectus supplement.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In connection with the sale of the securities, underwriters,
dealers or agents may receive compensation from us or from
purchasers of the securities for whom they act as agents, in the
form of discounts, concessions or commissions. Underwriters may
sell the securities to or through dealers, and those dealers may
receive compensation in the form of discounts, concessions or
commissions from the underwriters or commissions from the
purchasers for whom they may act as agents. Underwriters, dealers
and agents that participate in the distribution of the securities,
and any institutional investors or others that purchase securities
directly for the purpose of resale or distribution, may be deemed
to be underwriters, and any discounts or commissions received by
them from us and any profit on the resale of the common stock by
them may be deemed to be underwriting discounts and commissions
under the Securities Act of 1933, as amended.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We may provide agents, underwriters and other purchasers with
indemnification against particular civil liabilities, including
liabilities under the Securities Act of 1933, as amended, or
contribution with respect to payments that the agents, underwriters
or other purchasers may make with respect to such liabilities.
Agents and underwriters may engage in transactions with, or perform
services for, us in the ordinary course of business.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
To facilitate the public offering of a series of securities,
persons participating in the offering may engage in transactions
that stabilize, maintain, or otherwise affect the market price of
the securities. This may include over-allotments or short sales of
the securities, which involves the sale by persons participating in
the offering of more securities than have been sold to them by us.
In addition, those persons may stabilize or maintain the price of
the securities by bidding for or purchasing securities in the open
market or by imposing penalty bids, whereby selling concessions
allowed to underwriters or dealers participating in any such
offering may be reclaimed if securities sold by them are
repurchased in connection with stabilization transactions. The
effect of these transactions may be to stabilize or maintain the
market price of the securities at a level above that which might
otherwise prevail in the open market. Such transactions, if
commenced, may be discontinued at any time. We make no
representation or prediction as to the direction or magnitude of
any effect that the transactions described above, if implemented,
may have on the price of our securities.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
Unless otherwise specified in the applicable prospectus supplement,
any common stock sold pursuant to a prospectus supplement will be
eligible for listing on a national securities exchange, such as the
NYSE American or NASDAQ, subject to official notice of
issuance. Any underwriters to whom securities are sold by us for
public offering and sale may make a market in the securities, but
such underwriters will not be obligated to do so and may
discontinue any market making at any time without notice.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
In order to comply with the securities laws of some states, if
applicable, the securities offered pursuant to this prospectus will
be sold in those states only through registered or licensed brokers
or dealers. In addition, in some states securities may not be sold
unless they have been registered or qualified for sale in the
applicable state or an exemption from the registration or
qualification requirement is available and complied with.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
32</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Legal Matters</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The validity of the securities offered by this prospectus will be
passed upon by Hiscock &amp; Barclay, LLP, Syracuse, New York.</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Experts</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The financial statements incorporated in this prospectus by
reference to the Annual Report on Form 10-K for the fiscal year
ended December 31, 2013 have been so incorporated in reliance on
the report of GBH CPAs, PC, an independent registered public
accounting firm, given on the authority of said firm as experts in
auditing and accounting.</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Where You Can Find More Information</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We are subject to the informational requirements of the Securities
Exchange Act of 1934, as amended, and in accordance therewith file
annual, quarterly and current reports, proxy statements and other
information with the Securities and Exchange Commission. Such
reports, proxy statements and other information can be read and
copied at the Securities and Exchange Commission&rsquo;s public
reference facilities at 100 F Street, N.E., Washington, D.C. 20549,
at prescribed rates. Please call the Securities and Exchange
Commission at 1-800-732-0330 for further information on the
operation of the public reference facilities. In addition, the
Securities and Exchange Commission maintains a website that
contains reports, proxy and information statements and other
information regarding registrants that file electronically with the
Securities and Exchange Commission. The address of the Securities
and Exchange Commission&rsquo;s website is www.sec.gov.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We make available free of charge on or through our website at
www.actiniumpharmaceuticals.com, our Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and
amendments to those reports filed or furnished pursuant to Section
13(a) or 15(d) of the Securities Exchange Act of 1934, as amended,
as soon as reasonably practicable after we electronically file such
material with or otherwise furnish it to the Securities and
Exchange Commission.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We have filed with the Securities and Exchange Commission a
registration statement under the Securities Act of 1933, as
amended, relating to the offering of these securities. The
registration statement, including the attached exhibits, contains
additional relevant information about us and the securities. This
prospectus does not contain all of the information set forth in the
registration statement. You can obtain a copy of the registration
statement, at prescribed rates, from the Securities and Exchange
Commission at the address listed above, or for free at www.sec.gov.
The registration statement and the documents referred to below
under &ldquo;Incorporation of Certain Information By
Reference&rdquo; are also available on our website,
www.actiniumpharmaceuticals.com.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We have not incorporated by reference into this prospectus the
information on our website, and you should not consider it to be a
part of this prospectus.</P>
<P CLASS="LRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: LRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
33</P>
<P CLASS="H1" STYLE=
"mso-style-name: H1; margin-top: .25in; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; text-align: center; line-height: 14.0pt; page-break-after: avoid; text-autospace: none; font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold; color: black; font-weight: bold;">
Incorporation of Certain Information by Reference</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
The Securities and Exchange Commission allows us to
&ldquo;incorporate by reference&rdquo; the information we have
filed with it, which means that we can disclose important
information to you by referring you to those documents. The
information we incorporate by reference is an important part of
this prospectus, and later information that we file with the
Securities and Exchange Commission will automatically update and
supersede this information. We incorporate by reference the
documents listed below and any future documents (excluding
information furnished pursuant to Items 2.02 and 7.01 of Form 8-K)
we file with the Securities and Exchange Commission pursuant to
Sections l3(a), l3(c), 14 or l5(d) of the Securities Exchange Act
of 1934, as amended, subsequent to the date of this prospectus and
prior to the termination of the offering:</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Our Annual Report on
Form 10-K for the fiscal year ended December 31, 2013, filed with
the Securities and Exchange Commission on February 28, 2014;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Our Current Report
on Form 8-K, filed with the Securities and Exchange Commission on
January 3, 2014;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE="mso-style-name: bullet;"><FONT STYLE=
"letter-spacing: .05pt;">&bull;</FONT></FONT><FONT CLASS="bullet"
STYLE="mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt; letter-spacing: .05pt;">&nbsp;&nbsp;</FONT></FONT>
<FONT STYLE="letter-spacing: .05pt;">Our Current Report on Form
8-K, filed with the Securities and Exchange Commission on January
13, 2014; and;</FONT></P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Our Current Report
on Form 8-K, filed with the Securities and Exchange Commission on
February 7, 2014;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Our Current Report
on Form 8-K, filed with the Securities and Exchange Commission on
March 24, 2014;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> Our Current Report
on Form 8-K, filed with the Securities and Exchange Commission on
March 24, 2014;</P>
<P CLASS="BLm" STYLE=
"mso-style-name: BL_m; margin-top: 6.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: .25in; text-indent: -9.5pt; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;">&bull;</FONT><FONT CLASS="bullet" STYLE=
"mso-style-name: bullet;"><FONT STYLE=
"font-size: 8.5pt;">&nbsp;&nbsp;</FONT></FONT> The description of
our common stock, which is contained in our Form 8-K/A, filed with
the Securities and Exchange Commission on January 28, 2013.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
All filings filed by us pursuant to the Securities Exchange Act of
1934, as amended, after the date of the initial filing of this
registration statement and prior to the effectiveness of such
registration statement (excluding information furnished pursuant to
Items 2.02 and 7.01 of Form 8-K) shall also be deemed to be
incorporated by reference into the prospectus.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
You should rely only on the information incorporated by reference
or provided in this prospectus. We have not authorized anyone else
to provide you with different information. You should not assume
that the information in this prospectus is accurate as of any date
other than the date of this prospectus or the date of the documents
incorporated by reference in this prospectus.</P>
<P CLASS="Textflush" STYLE=
"mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
We will provide without charge to each person to whom a copy of
this prospectus is delivered, upon written or oral request, a copy
of any or all of the information that has been incorporated by
reference in this prospectus but not delivered with this prospectus
(other than an exhibit to these filings, unless we have
specifically incorporated that exhibit by reference in this
prospectus). Any such request should be addressed to us at: 501 5th
Avenue, 3rd Floor, New York, New York 10017, Attention: Corey
Sohmer, Vice President of Finance and Business Development, or made
by phone at (646) 459-4201. You may also access the documents
incorporated by reference in this prospectus through our website at
www.actiniumpharmceuticals.com. Except for the specific
incorporated documents listed above, no information available on or
through our website shall be deemed to be incorporated in this
prospectus or the registration statement of which it forms a
part.</P>
<P CLASS="RRH" STYLE=
"margin: 10px 0px 10px 0px; page-break-after: always; border-bottom: 1px solid; mso-style-name: RRH; margin-top: 10.0pt; margin-right: 0in; margin-bottom: 10.0pt; margin-left: 0in; text-align: center; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
34</P>
<P CLASS="Textflush" STYLE="font: 10pt/12pt TimesNewRomanPSStd-Regular; margin-top: 1.5in; margin-bottom: 40pt; text-align: center; mso-style-name: Text_flush; text-autospace: none; color: black"><FONT STYLE="font-size: 16pt">
<FONT STYLE="font-family: TimesNewRomanPSStd-Bold"><B>Shares</B></FONT></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><FONT STYLE="font-size: 14pt"><B>Warrants
to Purchase &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><B>&nbsp;</B></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-bottom: .5in; text-align: center; mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<IMG WIDTH="433" HEIGHT="112" SRC="image001.jpg" alt=""></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 0in; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT STYLE=
"font-size: 12.0pt; letter-spacing: -.2pt;">_______________________________</FONT></FONT></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
"text-align: center; mso-style-name: Text_flush; margin-top: 12.0pt; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<B><FONT STYLE=
"font-size: 12.0pt; font-family: TimesNewRomanPSStd-Bold;">Prospectus
Supplement</FONT></B></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 0in; text-align: center; mso-style-name: Text_flush; margin-right: 0in; margin-bottom: .0001pt; margin-left: 0in; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
<FONT CLASS="bold0" STYLE=
"mso-style-name: bold; font-weight: bold;"><FONT STYLE=
"font-size: 12.0pt; letter-spacing: -.2pt;">_______________________________</FONT></FONT></P>
<P CLASS="Textflush" STYLE="margin: 48pt 0in 0pt; mso-style-name: Text_flush; text-align: center; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black"><B><I>Sole
Book-Running Manager</I></B></P>
<P CLASS="Textflush" STYLE="text-align: center; margin: 6pt 0in 0pt; text-align: center; mso-style-name: Text_flush; font: 10pt/12pt TimesNewRomanPSStd-Regular; text-autospace: none; color: black">
<B><FONT STYLE="font: bold 16.5pt TimesNewRomanPSStd-Bold">Oppenheimer
&amp; Co.</FONT></B></P>
<P CLASS="Textflush" ALIGN="center" STYLE=
"margin-top: 60.0pt; margin-right: 0in; margin-bottom: 132.0pt; margin-left: 0in; text-align: center; mso-style-name: Text_flush; line-height: 12.0pt; text-autospace: none; font-size: 10.0pt; font-family: TimesNewRomanPSStd-Regular; color: black;">
July &#8199;&#8199;, 2017</P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
