12. SUBSEQUENT EVENT

On May 3, 2024, we entered into a Joint Development and Option Agreement (the “Agreement”) with Cleveland Clinic. Pursuant to the Agreement, the parties agreed on the terms and conditions under which the parties will collaborate in efforts to develop vaccines for the prevention or treatment of cancers using the same mechanism as our breast and ovarian cancer vaccines, focusing on high incidence malignancies in lung, colon and prostate. As consideration, the Company paid Cleveland Clinic a non-refundable, option fee in May 2024. The Company will also provide development funding in three tranches, the first payment was paid in May 2024, the second payment will be paid on or before January 31, 2025 and the third payment will be paid on or before January 31, 2026. None of these payments are expected to have a material effect on the Company’s results of operations or financial condition.