RARE: Acquisition or asset disposal · Financial results · Restructuring

Item 2.02 Results of Operations and Financial Condition. On November 3, 2026, the Company issued a press release announcing its financial results for the three months ended September 30, 2026 (the “Press Release”). A copy of the Press Release is furnished herewith as Exhibit 99.1 The information set forth under Item 2.02 and in Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing. Item 2.05 Costs Associated with Exit or Disposal Activities. On November 3, 2026, the Company announced a restructuring plan to reduce expenses (the “Restructuring”). As part of the Restructuring, the Company is implementing a workforce reduction of approximately 20% of its employees (the “RIF”). The Company communicated the RIF on November 3, 2026 and expects the RIF to be substantially completed by the end of 2026. The Company estimates that it will incur approximately $25 million in total restructuring and restructuring-related charges, consisting primarily of employee severance payments and other employee-related costs. The Company anticipates that substantially all of these charges will be recognized during the fourth quarter 2026. Cash payments related to the costs are generally expected to be made over the same period. The restructuring charges and the timing of the charges that the Company expects to incur in connection with the Restructuring are subject to a number of estimates and assumptions, and actual results may differ materially. The Company may also incur additional costs or charges not currently contemplated due to events that may occur as a result of,