BCTXL

BriaCell Therapeutics Corp. Series L Warrants represent the right to purchase shares of BriaCell Therapeutics common stock at a predetermined exercise price within a specified time period. These warrants were issued as part of previous financing transactions and provide holders with leveraged exposure to BriaCell's equity performance. The warrants trade separately from the common stock and appeal to investors seeking amplified participation in the company's potential success. As derivative securities, these warrants' value derives from the underlying BriaCell common stock price. When the stock price rises above the warrant's exercise price, the warrants gain intrinsic value. Warrant holders can profit by either exercising the warrants to purchase shares at the below-market exercise price and then selling the shares, or by selling the warrants themselves in the secondary market. The time value component of warrant pricing reflects the remaining time until expiration and the volatility of the underlying stock. BriaCell Therapeutics is developing targeted immunotherapies for advanced breast cancer and other solid tumors, with its lead candidate Bria-IMT in clinical trials. The company's progress in clinical development, achievement of regulatory milestones, positive trial results, strategic partnerships, or other favorable business developments could drive the stock price higher, increasing warrant value. These warrants carry higher risk than holding common stock directly but offer greater potential percentage returns if BriaCell successfully advances its clinical programs and the stock price appreciates significantly. Warrants expire worthless if the stock price remains below the exercise price at expiration.