<SEC-DOCUMENT>0001214659-25-007878.txt : 20250515
<SEC-HEADER>0001214659-25-007878.hdr.sgml : 20250515
<ACCEPTANCE-DATETIME>20250515161524
ACCESSION NUMBER:		0001214659-25-007878
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250515
DATE AS OF CHANGE:		20250515

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Outlook Therapeutics, Inc.
		CENTRAL INDEX KEY:			0001649989
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				383982704
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-89495
		FILM NUMBER:		25953331

	BUSINESS ADDRESS:	
		STREET 1:		111 S. WOOD AVENUE
		STREET 2:		UNIT #100
		CITY:			ISELIN
		STATE:			NJ
		ZIP:			08830
		BUSINESS PHONE:		6096193990

	MAIL ADDRESS:	
		STREET 1:		111 S. WOOD AVENUE
		STREET 2:		UNIT #100
		CITY:			ISELIN
		STATE:			NJ
		ZIP:			08830

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Oncobiologics, Inc.
		DATE OF NAME CHANGE:	20150804

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TANG CAPITAL MANAGEMENT LLC
		CENTRAL INDEX KEY:			0001232621
		ORGANIZATION NAME:           	
		EIN:				461592449
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		4747 EXECUTIVE DRIVE
		STREET 2:		SUITE 210
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121
		BUSINESS PHONE:		858-200-3830

	MAIL ADDRESS:	
		STREET 1:		4747 EXECUTIVE DRIVE
		STREET 2:		SUITE 210
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: TANG CAPITAL MANAGEMENT LLC -->
          <cik>0001232621</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>2</amendmentNo>
      <securitiesClassTitle>Common Stock, par value $0.01 per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>03/31/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001649989</issuerCik>
        <issuerName>Outlook Therapeutics, Inc.</issuerName>
        <issuerCusip>69012T305</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>111 S. Wood Avenue</com:street1>
          <com:street2>Unit #100</com:street2>
          <com:city>Iselin</com:city>
          <com:stateOrCountry>NJ</com:stateOrCountry>
          <com:zipCode>08830</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>TANG CAPITAL MANAGEMENT, LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1900000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1900000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1900000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>5.6</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
      <comments>Tang Capital Management, LLC ("TCM") beneficially owns 1,900,000 shares of the Issuer's Common Stock, which consists of: (i) 400,000 shares of the Issuer's Common Stock and (ii) 1,500,000 shares currently issuable upon exercise of Warrants (the "Warrants," as defined in the Issuer's Registration Statement filed on Form S-3 with the Securities and Exchange Commission on March 20, 2025). The percentages used herein are based on 34,120,177 shares of Common Stock outstanding, which is comprised of: (i) 32,620,177 shares of Common Stock outstanding as of March 13, 2025, as set forth in the Issuer's Registration Statement filed on Form S-3 that was filed with the Securities and Exchange Commission on March 20, 2025 and (ii) 1,500,000 shares currently issuable upon exercise of Warrants. TCM shares voting and dispositive power over such shares with Tang Capital Partners, LP ("TCP"), Tang Capital Partners International, LP ("TCPI"), Tang Capital Partners III, Inc. ("TCP III") and Kevin Tang.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>KEVIN TANG</reportingPersonName>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1900000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1900000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1900000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>5.6</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
      <comments>Kevin Tang beneficially owns 1,900,000 shares of the Issuer's Common Stock, which consists of: (i) 400,000 shares of the Issuer's Common Stock and (ii) 1,500,000 shares currently issuable upon exercise of Warrants. Kevin Tang shares voting and dispositive power over such shares with TCP, TCPI, TCP III and TCM.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>TANG CAPITAL PARTNERS, LP</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1662182.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1662182.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1662182.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>4.9</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>TCP beneficially owns 1,662,182 of the Issuer's Common Stock, which consists of: (i) 162,182 shares of the Issuer's Common Stock and (ii) 1,500,000 shares currently issuable upon exercise of Warrants. TCP owns 1,500,000 of the Issuer's Warrants, which are each exercisable for one share of the Issuer's Common Stock. TCP may not exercise any portion of the Warrants for shares of Common Stock if, as a result of the exercise, TCP, together with its affiliates and any other person or entity acting as a group, would own more than 9.99% of the Issuer's outstanding shares of Common Stock after exercise. However, TCP may increase such percentage to any other percentage, not in excess of 19.99% (to the extent such limit is required under applicable Nasdaq rules), by providing written notice to the Issuer, provided that any increase in such percentage shall not be effective until 61 days after notice is provided to the Issuer. The foregoing limitations remain in effect with respect to the Warrants, and, accordingly, all 1,500,000 shares are currently issuable upon exercise of Warrants. TCP shares voting and dispositive power over such shares with TCM and Kevin Tang.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>TANG CAPITAL PARTNERS INTERNATIONAL, LP</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>102818.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>102818.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>102818.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0.3</classPercent>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>TCPI shares voting and dispositive power over such shares with TCM and Kevin Tang.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>TANG CAPITAL PARTNERS III, INC</reportingPersonName>
      <citizenshipOrOrganization>NV</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>135000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>135000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>135000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0.4</classPercent>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
      <comments>TCP III shares voting and dispositive power over such shares with TCM and Kevin Tang.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>TANG CAPITAL PARTNERS IV, INC</reportingPersonName>
      <citizenshipOrOrganization>NV</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0.0</classPercent>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Outlook Therapeutics, Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>111 S. Wood Avenue, Unit #100, Iselin, NJ, 08830</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>This Statement on Schedule 13G (this "Statement") is filed by TCM, the general partner of TCP and TCPI; Kevin Tang, the manager of TCM and Chief Executive Officer of TCP III and Tang Capital Partners IV, Inc. ("TCP IV"); TCP; TCPI; TCP III; and TCP IV.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The address of TCM, Kevin Tang, TCP and TCPI is 4747 Executive Drive, Suite 210, San Diego, CA 92121. The address of TCP III and TCP IV is 400 S. 4th Street, 3rd Floor, Las Vegas, NV 89101.</principalBusinessOfficeOrResidenceAddress>
        <citizenship>TCM is a Delaware limited liability company. Mr. Tang is a United States citizen. TCP and TCPI are Delaware limited partnerships. TCP III and TCP IV are Nevada corporations that are indirectly wholly owned by TCP.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>1,900,000</amountBeneficiallyOwned>
        <classPercent>5.6%</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>0 shares</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>1,900,000 shares</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>0 shares</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>1,900,000 shares</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>TANG CAPITAL MANAGEMENT, LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Kevin Tang</signature>
        <title>Manager</title>
        <date>05/15/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>KEVIN TANG</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Kevin Tang</signature>
        <title>Self</title>
        <date>05/15/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>TANG CAPITAL PARTNERS, LP</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Kevin Tang</signature>
        <title>Manager, Tang Capital Management, LLC, General Partner</title>
        <date>05/15/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>TANG CAPITAL PARTNERS INTERNATIONAL, LP</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Kevin Tang</signature>
        <title>Manager, Tang Capital Management, LLC, General Partner</title>
        <date>05/15/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>TANG CAPITAL PARTNERS III, INC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Kevin Tang</signature>
        <title>Chief Executive Officer</title>
        <date>05/15/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>TANG CAPITAL PARTNERS IV, INC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Kevin Tang</signature>
        <title>Chief Executive Officer</title>
        <date>05/15/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>


</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="margin: 0; text-align: right"> <B>Exhibit 99.1</B> </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">  In accordance with Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, the undersigned agree to the joint filing of a Statement on Schedule 13G (including any and all amendments thereto) with respect to the Common Stock, $0.01 par value per share, of  Outlook Therapeutics, Inc. and further agree to the filing of this agreement as an exhibit thereto. In addition, each party to this Agreement expressly authorizes each other party to this Agreement to file on its behalf any and all amendments to such Statement on Schedule 13G.  </P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:
    May 15, 2025</FONT> </TD>
    <TD COLSPAN="3" STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TANG CAPITAL
    PARTNERS, LP</B></FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:&nbsp;&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tang Capital
    Management, LLC &nbsp;</FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Its:&nbsp;&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">General Partner&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:&nbsp;&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Kevin Tang</FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; width: 46%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 7%"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 7%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; width: 30%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kevin Tang&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; width: 10%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Manager&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="vertical-align: top; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TANG CAPITAL
    PARTNERS INTERNATIONAL, LP</B></FONT> </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:&nbsp;&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tang Capital
    Management, LLC &nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Its:&nbsp;&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">General Partner&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:&nbsp;&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Kevin Tang</FONT> </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="text-align: left; width: 46%"> &nbsp; </TD>
    <TD STYLE="text-align: left; width: 7%"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 7%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; width: 30%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kevin Tang&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; width: 10%"> &nbsp; </TD></TR>
  <TR>
    <TD STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Manager&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> <B>TANG
                                            CAPITAL PARTNERS III, INC</B> </P>
</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
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    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:&nbsp;&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Kevin Tang</FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; width: 46%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 7%"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 7%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; width: 30%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kevin Tang&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; width: 10%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"> <B>TANG
                                            CAPITAL PARTNERS IV, INC</B> </P>
</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:&nbsp;&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Kevin Tang</FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; width: 46%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 7%"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 7%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; width: 30%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kevin Tang&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; width: 10%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: left"> <B>TANG CAPITAL MANAGEMENT, LLC</B> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-align: left"> &nbsp; </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:&nbsp;&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Kevin Tang</FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left; width: 46%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 7%"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 7%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; width: 30%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kevin Tang&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left; width: 10%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:&nbsp;&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Manager&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: left"> &nbsp; </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Kevin Tang</FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;&nbsp;</FONT> </TD>
    <TD COLSPAN="2" STYLE="text-align: left"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kevin Tang&nbsp;</FONT> </TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
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