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TABLE OF CONTENTS

Table of Contents

As filed with the Securities and Exchange Commission on November 3, 2016July 16, 2021

Registration No. 333-                


UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON,

Washington, D.C. 20549



FORM S-3

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933



TEMPEST THERAPEUTICS, INC.

OvaScience, Inc.
(Exact name of registrant as specified in its charter)



DelawareDelaware45-1472564
(State or other jurisdiction of
incorporation or organization)
 45-1472564
(I.R.S. Employer
Identification No.)
Number)

7000 Shoreline Court, Suite 275

South San Francisco, California, 94080

(415) 9 Fourth Avenue
Waltham, Massachusetts 02451
(617) 500-2802798-8589

(Address, including zip code, and telephone number, including area code of registrant'sregistrant’s principal executive offices)



Stephen Brady

Harald F. Stock, Ph.D.
President and Chief Executive Officer
OvaScience, Inc.
9 Fourth Avenue
Waltham, Massachusetts 02451
(617) 500-2802

7000 Shoreline Court; Suite 275

South San Francisco, CA 94080

(415) 798-8589

(Name, address, including zip code, and telephone number, including area code, of agent for service)



Copies to:

William C. Hicks, Esq.
Megan Gates, Esq.
GarrettAsher M. Winslow, Esq.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
One Financial Center
Boston, MA 02111
(617) 542-6000
Rubin



Frank F. Rahmani

Istvan A. Hajdu

Sidley Austin LLP

555 California Street, Suite 2000

San Francisco, CA 94104

(650) Approximate date of commencement of proposed sale to the public:
565-7000

From time to time after the effective date of this registration statement as determined byRegistration Statement

(Approximate date of commencement of proposed sale to the registrant.public)

If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box:    obox.  ☐

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box:    ýbox.  ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  o

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ☐

If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box.  o


If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box.  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of "large“large accelerated filer," "accelerated filer"” “accelerated filer,” “smaller reporting company,” and "smaller reporting company"“emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one).

Large accelerated filerý Accelerated filer o  Non-acceleratedAccelerated filero
(Do not check if a
smaller reporting company)
 
Non-accelerated filerSmaller reporting companyo
Emerging growth company



If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.  ☐

CALCULATION OF REGISTRATION FEE

        
 
Title of Each Class of Securities
to be Registered

 Amount to be
Registered

 Proposed Maximum
Offering Price per
Unit

 Proposed Maximum
Aggregate Offering
Price

 Amount of
Registration Fee(1)

 

Common Stock, $0.001 par value

 (2) (3) (3) 
 

Preferred Stock, $0.001 par value

 (2) (3) (3) 
 

Debt Securities

 (2) (3) (3) 
 

Warrants

 (2) (3) (3) 
 

Rights

 (2) (3) (3) 
 

Purchase Contracts

 (2) (3) (3) 
 

Units

 (2) (3) (3) 
 

Total

 (2)   $175,000,000 $7,511.19(4)

 

(1)

 

Title of each class of
securities to be registered
 Amount
to be
Registered
 Proposed
Maximum
Offering Price
Per Share
 Proposed
Maximum
Aggregate
Offering Price
 Amount of
Registration Fee(1)

Common Stock, par value $0.001 per share

 (2) (3) (3) 

Preferred Stock, par value $0.001 per share

 (2) (3) (3) 

Debt Securities

 (2) (3) (3) 

Warrants

 (2) (3) (3) 

Units(4)

    

Rights to purchase common stock, preferred stock, debt securities or units(5)

    

Total

 (2)   $250,000,000 $27,275(6)

 

 

(1)

Calculated pursuant to Rule 457(o) under the Securities Act of 1933, as amended, or the Securities Act.

(2)

Includes an indeterminate aggregate principal amount and number of securities of each identified class of securities up to a proposed aggregate offering price of  $250,000,000, which may be offered by the registrant from time to time in unspecified numbers and at indeterminate prices, and as may be issued upon conversion, redemption, repurchase, exchange or exercise of any securities registered hereunder, including any applicable anti-dilution provisions. The securities registered also include such indeterminate number of shares of common stock, preferred stock and amount of debt securities as may be issued upon conversion of or exchange for debt securities that provide for conversion or exchange, or upon exercise of warrants pursuant to the antidilution provisions of such securities. In addition, pursuant to Rule 416 under the Securities Act of 1933, as amended, or the Securities Act, the shares being registered hereunder include such indeterminate number of shares of common stock and preferred stock as may be issuable with respect to the shares being registered hereunder as a result of stock splits, stock dividends or similar transactions.

(3)

The proposed maximum aggregate offering price per class of security will be determined from time to time by the registrant in connection with the issuance by the registrant of the securities registered hereunder and is not specified as to each class of security pursuant to General Instruction II.D. of Form S-3 under the Securities Act.

(4)

Each unit will represent an interest in two or more securities registered pursuant to this registration statement, which may or may not be separable. Because the units will provide a right only to purchase such securities offered hereunder, no additional registration fee is required.

(5)

Rights will represent rights to purchase shares of common stock, shares of preferred stock , debt securities or units registered hereby. Because the rights will provide a right only to purchase such securities offered hereunder, no additional registration fee is required.

(6)

Pursuant to Rule 457(p) of the Securities Act, the registrant is offsetting its filing fee for this registration statement by $18,001, which represents a portion of the registration fee previously paid with respect to approximately $165 million of unsold securities from the registrant’s prior registration statement on Form S-3 (File No. 333-230749) filed on April 5, 2019 (which includes approximately $44.5 million of unsold securities under the equity distribution agreement prospectus filed with that registration statement on April 5, 2019), resulting in a net registration fee of $9,274 for this registration statement.

The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment that specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933,or until the registration statement shall become effective on such date as amended, based on the proposed maximum aggregate offering price.

(2)
There are being registered hereunder such indeterminate number of shares of common stockSecurities and preferred stock, such indeterminate principal amount of debtExchange Commission, acting pursuant to said Section 8(a), may determine.


The information in this prospectus is not complete and may be changed. We may not sell these securities such indeterminate number of warrants, rightsor accept an offer to buy these securities until the registration statement filed with the Securities and purchase contractsExchange Commission is effective. This prospectus is not an offer to purchase common stock, preferred stock or debtsell these securities, and such indeterminate number of units, as shall have an aggregate initial offering price not to exceed $175,000,000. If any debt securities are issued at an original issue discount, then the offering price of such debt securities shall be in such greater principal amount as shall result in an aggregate initial offering price not to exceed $175,000,000, less the aggregate dollar amount of all securities previously issued hereunder. Any securities registered hereunder may be sold separately or as units with other securities registered hereunder. The proposed maximum initial offering price per unit will be determined, from time to time, by the registrant in connection with the issuance by the registrant of the securities registered hereunder. The securities registered also include such indeterminate number of shares of common stock and preferred stock and amount of debt securities as may be issued upon conversion of or exchange for preferred stock or debt securities that provide for conversion or exchange, upon exercise of warrants or rights or performance of purchase contracts or pursuant to the anti-dilution provisions of any such securities. In addition, pursuant to Rule 416 under the Securities Act of 1933, as amended, the shares being registered hereunder include such indeterminate number of shares of common stock and preferred stock as may be issuable with respect to the shares being registered hereunder as a result of stock splits, stock dividends or similar transactions.

(3)
The proposed maximum aggregate offering price per class of security will be determined from time to time by the registrant in connection with the issuance by the registrant of the securities registered hereunder andit is not specified assoliciting offers to each class of security pursuant to General Instruction II.D. of Form S-3 under the Securities Act of 1933, as amended.

(4)
Pursuant to Rule 415(a)(6) under the Securities Act of 1933, as amended, this registration statement includes a total of $110,192,500 of unsoldbuy these securities which includes (i) $17,750,000 of unsold securities that had previously been registered under the Registrant's registration statement on Form S-3 initially filed on November 10, 2014, File No. 333-200040 (the "2014 Registration Statement") and (i) $92,442,500 of unsold securities that had previously been registered under the Registrant's registration statement on Form S-3 initially filed on February 26, 2016, File No. 333-209778 (the "2016 Registration Statement" and together with the 2014 Registration, the "Prior Registration Statements"). The Prior Registration Statements registered securities for a maximum offering price of $300,000,000. The Registrant sold an aggregate of $189,807,500 of securities thereunder, leaving a balance of unsold securities with an aggregate offering price of $110,192,500. In connection with the registration ofin any jurisdiction where such unsold securities on the Prior Registration Statements, the Registrant paid registrations fee of $11,371.51 for such unsold securities, which fee will continue to be applied to such unsold securities. Accordingly, the amount of the registration fee has been calculated based on the proposed maximum offering price of the additional $64,807,500 of securities registered on this registration statement. Pursuant to Rule 415(a)(6), the offering of the unsold securities registered under the Prior Registration Statements will be deemed terminated as of the date of effectiveness of this registration statement.

THE REGISTRANT HEREBY AMENDS THIS REGISTRATION STATEMENT ON SUCH DATE OR DATES AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL FILE A FURTHER AMENDMENT WHICH SPECIFICALLY STATES THAT THIS REGISTRATION STATEMENT SHALL THEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION 8(a) OF THE SECURITIES ACT OF 1933, AS AMENDED, OR UNTIL THE REGISTRATION STATEMENT SHALL BECOME EFFECTIVE ON SUCH DATE AS THE SECURITIES AND EXCHANGE COMMISSION, ACTING PURSUANT TO SAID SECTION 8(a), MAY DETERMINE.offer or sale is not permitted.

 


Table of Contents


EXPLANATORY NOTE

        This registration statement contains:

        The base prospectus immediately follows this explanatory note. The specific terms of any securities to be offered pursuant to the base prospectus will be specified in a prospectus supplement to the base prospectus. The sales agreement prospectus immediately follows the base prospectus. The $50,000,000 of common stock that may be offered, issued and sold under the sales agreement prospectus is included in the $175,000,000 of securities that may be offered, issued and sold by us under the base prospectus.


Table of Contents

THE INFORMATION IN THIS PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. WE MAY NOT SELL THESE SECURITIES UNTIL THE REGISTRATION STATEMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IS EFFECTIVE. THIS PROSPECTUS IS NOT AN OFFER TO SELL THESE SECURITIES AND IS NOT SOLICITING AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE THE OFFER OR SALE IS NOT PERMITTED.

SUBJECT TO COMPLETION, DATED NOVEMBER 3, 2016JULY 16, 2021

PROSPECTUS

OvaScience, Inc.

$175,000,000

COMMON STOCK
PREFERRED STOCK
DEBT SECURITIES
WARRANTS
RIGHTS
PURCHASE CONTRACTS
UNITS

 This prospectus will allow us

LOGO

$250,000,000

Common Stock

Preferred Stock

Debt Securities

Warrants

Units

Rights to issue, fromPurchase Common Stock, Preferred Stock,

Debt Securities or Units

From time to time, at prices and on terms to be determined at or prior to the time of the offering,we may offer up to $175,000,000$250,000,000 of any combination of the securities described in this prospectus either individuallyin one or in units.more offerings. We may also offer common stock or preferred stocksecurities as may be issuable upon conversion, ofredemption, repurchase, exchange or exchange for the debt securities; common stock upon conversion of or exchange for the preferred stock; common stock, preferred stock or debt securities upon the exercise of warrants, rights or performance of purchase contracts; or any combination of these securities upon the performance of purchase contracts.registered hereunder, including any applicable anti-dilution provisions.

This prospectus describesprovides a general description of the general terms of these securities and the general manner in which thesewe may offer. Each time we offer securities, will be offered. Wewe will provide you with the specific terms of any offeringthe securities offered in a supplement to this prospectus. We may also authorize one or more supplementsfree writing prospectuses to this prospectus.be provided to you in connection with these offerings. The prospectus supplements will also describe the specific manner in which these securities will be offeredsupplement and any related free writing prospectus may also supplement,add, update or amendchange information contained in this document.prospectus. You should carefully read this prospectus, the applicable prospectus supplement and any related free writing prospectus, supplement, as well as any documents incorporated by reference, into this prospectus or any prospectus supplement, carefully before you invest.invest in any of the securities being offered.

        OurWe will sell these securities may be sold directly by us to you,investors, through agents designated from time to time or to or through underwriters or dealers.dealers, on a continuous or delayed basis. For additional information on the methods of sale, you should refer to the section entitled "Plan“Plan of Distribution"Distribution” in this prospectus and in the applicable prospectus supplement.prospectus. If any underwritersagents or agentsunderwriters are involved in the sale of ourany securities with respect to which this prospectus is being delivered, the names of such underwritersagents or agentsunderwriters and any applicable fees, commissions, discounts or discounts and over- allotmentover-allotment options will be set forth in a prospectus supplement. The price to the public of such securities and the net proceeds that we expect to receive from such sale will also be set forth in a prospectus supplement.

This prospectus may not be used to consummate a sale of any securities unless accompanied by a prospectus supplement.

Our common stock is listedtraded on The NASDAQ Globalthe Nasdaq Capital Market under the symbol "OVAS."“TPST.” On November 2, 2016,July 15, 2021, the last reported sale price of our common stock was $5.00$19.43 per share. The applicable

We are a “smaller reporting company” under federal securities laws and as such, have elected to comply with reduced public company reporting requirements for this prospectus supplement will contain information, where applicable, asand the documents incorporated by reference herein and may elect to any other listing, if any, on The NASDAQ Global Market or any securities market or other securities exchangecomply with reduced public company reporting requirements in future filings. See “Summary—Implications of the securities covered by the prospectus supplement. Prospective purchasers of our securities are urged to obtain current information as to the market prices of our securities, where applicable.Being a Smaller Reporting Company.”

 

Investing in our securities involves a high degree of risk. Before deciding whether to invest in our securities, youYou should considerreview carefully the risks and uncertainties described under the heading “Risk Factors” contained in the applicable prospectus supplement and any related free writing prospectus, and under similar headings in the other documents that we haveare incorporated by reference into this prospectus as described on page  43 of this prospectus under the caption "Risk Factors." We may include specific risk factors in supplements to this prospectus under the caption "Risk Factors." This prospectus may not be used to sell our securities unless accompanied by a prospectus supplement.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.prospectus.

 

NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

The date of this prospectus is                 , 2016.2021.



Table of Contents


TABLE OF CONTENTS


Page

ABOUT THIS PROSPECTUS

   1i 

SUMMARY

PROSPECTUS SUMMARY

   21 

RISK FACTORS

   43 

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

RATIO OF EARNINGS TO FIXED CHARGES

   43 

USE OF PROCEEDS

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

   4 

USEDESCRIPTION OF PROCEEDSCAPITAL STOCK

   65 

PLANDESCRIPTION OF DISTRIBUTIONDEBT SECURITIES

   69 

DESCRIPTION OF COMMON STOCKWARRANTS

   816 

DESCRIPTION OF PREFERRED STOCKUNITS

   919 

DESCRIPTION OF DEBT SECURITIESRIGHTS

   1020 

DESCRIPTIONLEGAL OWNERSHIP OF WARRANTSSECURITIES

   1622 

DESCRIPTIONPLAN OF RIGHTSDISTRIBUTION

   1726 

LEGAL MATTERS

DESCRIPTION OF PURCHASE CONTRACTS

   1928 

EXPERTS

DESCRIPTION OF UNITS

   1928 

CERTAIN PROVISIONS OF DELAWARE LAW AND OF THE COMPANY'S CERTIFICATE OF INCORPORATION AND BYLAWS

21

LEGAL MATTERS

23

EXPERTS

23

WHERE YOU CAN FIND MORE INFORMATION

   2328 

INCORPORATION OF DOCUMENTSCERTAIN INFORMATION BY REFERENCE

   2429 

Table of Contents


ABOUT THIS PROSPECTUS

This prospectus is a part of a registration statement on Form S-3 that we filed with the Securities and Exchange Commission, or SEC, utilizing a "shelf"“shelf” registration process. Under this shelf registration process, we may offer sharessell any combination of our common stock and preferred stock, various series of debtthe securities and/or warrants, rights or purchase contracts to purchase any of such securities, either individually ordescribed in units,this prospectus in one or more offerings withup to a total valueaggregate offering price of up to $175,000,000.$250,000,000. This prospectus provides you with a general description of the securities we may offer.

Each time we offer a type or series ofsell securities under this prospectus, we will provide a prospectus supplement that will contain specific information about the terms of that offering.

        This prospectus does not We may also authorize one or more free writing prospectuses to be provided to you that may contain all of thematerial information included in the registration statement. For a more complete understanding of the offering of the securities, you should referrelating to the registration statement, including its exhibits.these offerings. The prospectus supplement and any related free writing prospectus that we may authorize to be provided to you may also add, update or change information contained or incorporated by reference in this prospectus. However, no prospectus supplement will offer a security that is not registered and described in this prospectus at the time of its effectiveness. This prospectus, together with the applicable prospectus supplements and theor in any documents that we have incorporated by reference into this prospectus, includes all material information relating to the offering of securities under this prospectus. You should carefully read this prospectus, theany applicable prospectus supplement and any related free writing prospectus, together with the information and documents incorporated herein by reference and the additional informationas described under the heading "Where You Can Find More Information"“Incorporation of Certain Information by Reference,” before making an investment decision.investing in any of the securities offered.

        You should rely only on theTHIS PROSPECTUS MAY NOT BE USED TO CONSUMMATE A SALE OF SECURITIES UNLESS IT IS ACCOMPANIED BY A PROSPECTUS SUPPLEMENT.

Neither we, nor any agent, underwriter or dealer has authorized any person to give any information we have providedor to make any representation other than those contained or incorporated by reference in this prospectus, any applicable prospectus supplement or any related free writing prospectus supplement. We have not authorized anyone to provide you with information different from that containedprepared by or incorporated by reference in this prospectus. No dealer, salesperson or other person is authorized to give any informationon behalf of us or to represent anything not contained or incorporated by reference in this prospectus. You must not rely on any unauthorized information or representation.which we have referred you. This prospectus, isany applicable supplement to this prospectus or any related free writing prospectus do not constitute an offer to sell onlyor the solicitation of an offer to buy any securities offered hereby, but only under circumstances andother than the registered

i


securities to which they relate, nor do this prospectus, any applicable supplement to this prospectus or any related free writing prospectus constitute an offer to sell or the solicitation of an offer to buy securities in jurisdictions whereany jurisdiction to any person to whom it is lawfulunlawful to do so. make such offer or solicitation in such jurisdiction.

You should not assume that the information contained in this prospectus, any applicable prospectus supplement or any related free writing prospectus supplement is accurate only as ofon any date subsequent to the date set forth on the front of the document andor that any information we have incorporated herein by reference is accurate only as ofcorrect on any date subsequent to the date of the document incorporated by reference, regardlesseven though this prospectus, any applicable prospectus supplement or any related free writing prospectus is delivered, or securities are sold, on a later date.

This prospectus and the information incorporated herein by reference contain summaries of certain provisions contained in some of the timedocuments described herein, but reference is made to the actual documents for complete information. All of deliverythe summaries are qualified in their entirety by the actual documents. Copies of this prospectussome of the documents referred to herein have been filed, will be filed or any sale of a security.

        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 iswill be incorporated by reference inas exhibits to the accompanyingregistration statement of which this prospectus were made solely foris a part, and you may obtain copies of those documents as described below under 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.heading “Where You Can Find More Information.”

 

ii


SUMMARY

This prospectus may not be used to consummate sales of our securities, unless it is accompanied by a prospectus supplement. To the extent there are inconsistencies between any prospectus supplement,summary highlights selected information from this prospectus and does not contain all of the information that you need to consider in making your investment decision. You should carefully read the entire prospectus, the applicable prospectus supplement and any related free writing prospectus, including the risks of investing in our securities discussed under the heading “Risk Factors” contained in the applicable prospectus supplement and any related free writing prospectus, and under similar headings in the other documents that are incorporated by reference into this prospectus. You should also carefully read the document withinformation incorporated by reference into this prospectus, including our financial statements, and the most recent date will control.exhibits to the registration statement of which this prospectus is a part.

Unless the context indicates otherwise, as used in this prospectus, unless the context otherwise requires, "OvaScience," "OVAS," "the Company," "we," "us," "our"references to “we,” “us,” “our,” “the company” and similar terms“Tempest Therapeutics” refer to OvaScience,Tempest Therapeutics, Inc, formerly known as “Millendo Therapeutics, Inc.”, and its subsidiaries. We own various U.S. federal trademark applications and unregistered trademarks, including our company name. All other trademarks or trade names referred to in this prospectus are the property of their respective owners. Solely for convenience, the trademarks and trade names in this prospectus are referred to without the symbols ® and , but such references should not be construed as any indication that their respective owners will not assert, to the fullest extent under applicable law, their rights thereto.

Company Overview

We are a clinical-stage oncology company focused on leveraging our deep scientific understanding of cancer biology and medicinal chemistry to develop and advance novel, orally available therapies for the treatment of solid tumors. Our philosophy is to build a company based upon not only creative science and thoughtful management, but also upon the efficient translation of those ideas into therapies that will improve patient’s lives. To this end, we are advancing TPST-1495 and TPST-1120, two product candidates in clinical trials that we believe are the first clinical stage molecules designed to treat their respective targets; and a third program in preclinical studies that could be the first to target TREX-1, a key cellular enzyme that regulates the innate immune response in tumors. TPST-1495 is a dual antagonist of EP2 and EP4, receptors of prostaglandin E2, and is currently in a Phase 1 trial in solid tumors. Our second program, TPST-1120, is a selective antagonist of peroxisome proliferator-activated receptor alpha, or PPARα, and is also in a Phase 1 trial in solid tumors. We expect to report initial data from both these programs in the first half of 2022. Additionally, we are advancing a third program targeting the three prime repair exonuclease, or TREX-1, for which we expect to select a development candidate in the first half of 2022. Beyond these three ongoing programs, we plan to leverage our drug development and company-building experience, along with academic relationships to identify promising new targets that may feed new programs into our pipeline.

Implications of Being a Smaller Reporting Company

We are a “smaller reporting company” as defined in the Securities Exchange Act of 1934 (the “Exchange Act”). As a smaller reporting company, we may take advantage of certain of the scaled disclosures available to smaller reporting companies and will be able to take advantage of these scaled disclosures for so long as our voting and non-voting common stock held by non-affiliates is less than $250.0 million measured on the last business day of our second fiscal quarter, or our annual revenue is less than $100.0 million during the most recently completed fiscal year and our subsidiaries.


voting and non-voting

common stock held by Table of Contentsnon-affiliates



PROSPECTUS SUMMARY

The following is a summary of what we believe to beless than $700.0 million measured on the most important aspectslast business day of our businesssecond fiscal quarter.


Corporate Information

We were incorporated under the laws of the State of Delaware in April 2011 under the name “Ovastem, Inc.” and changed our name to “OvaScience, Inc.” (“OvaScience”) in May 2011. On December 7, 2018, we completed a reverse merger with what was then known as “Millendo Therapeutics, Inc.” (“Private Millendo”), pursuant to which, among other matters, Orion Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of OvaScience, merged with and into Private Millendo, with Private Millendo continuing as a wholly owned subsidiary of OvaScience and the offeringsurviving corporation of the merger (the “Millendo Merger”). Immediately following the Millendo Merger, we changed our name from “Ovascience, Inc” to “Millendo Therapeutics, Inc.”

On June 25, 2021, we completed a merger with TempestTx, Inc. (formerly Tempest Therapeutics, Inc.) (“Private Tempest”) in accordance with the terms of the Agreement and Plan of Merger, dated as of March 29, 2021 (the “Merger Agreement”), by and among us, Private Tempest and Mars Merger Corp., a Delaware corporation and our wholly owned subsidiary (“Merger Sub”), pursuant to which, among other matters, Merger Sub merged with and into Private Tempest, with Private Tempest continuing as our wholly owned subsidiary and the surviving corporation of the merger (the “Merger”). On June 25, 2021, we effected a 1-for-15 reverse stock split of our securitiescommon stock (the “Reverse Stock Split”), completed the Merger, and changed our name to “Tempest Therapeutics, Inc.” Following the completion of the Merger, the business conducted by us became primarily the business conducted by Private Tempest.

Our shares of common stock are listed on The Nasdaq Capital Market, previously trading through the close of business on Friday, June 25, 2021 under this prospectus.the ticker symbol “MLND,” and trading on post-Reverse Stock Split adjusted basis, under the ticker symbol “TPST,” since June 28, 2021.

Our principal executive offices are located at 7000 Shoreline Court; Suite 275 South San Francisco, CA 94080, and our telephone number is (415) 798-8589. Our website is located at http://www.Tempesttx.com. We urge you to read this entire prospectus, including the more detailed consolidated financial statements, notes to the consolidated financial statements and other information incorporateddo not incorporate by reference frominto this prospectus the information on, or accessible through, our other filings with the SEC or included in any applicable prospectus supplement. website, and you should not consider it as part of this prospectus.


RISK FACTORS

Investing in our securities involves risks. Therefore,a high degree of risk. You should carefully considerreview the risk factors set forthrisks and uncertainties described under the heading “Risk Factors” contained in the applicable prospectus supplement and any related free writing prospectus, supplements and under similar headings in our most recent annualAnnual Report on Form 10-K, as updated by any subsequently filed periodic reports and quarterly filings with the SEC, as well as other information in this prospectus and any prospectus supplements and the documents that are incorporated by reference herein or therein,into this prospectus, including the Current Report on Form 8-K filed on July 16, 2021, before purchasing our securities.deciding whether to purchase any of the securities being registered pursuant to the registration statement of which this prospectus is a part. Each of the risk factors described in the documents referenced above could adversely affect our business, operating results and financial condition, as well as adversely affect the value of an investment in our securities.

About OvaScience, Inc.

        OvaScience is a global fertility company focused onsecurities, and the discovery, development, and commercialization of new fertility treatment options for women. The current standard of treatment for infertility is in vitro fertilization, or IVF. IVF, however, fails approximately 70% of the time. The discovery of egg precursor, or EggPCSM, cells countered a long-held medical belief that women are born with a set number of eggs, and this discovery enabled our new fertility treatment options. Our patented technology is based on these EggPC cells, which are immature egg cells found in the protective outer lining of a woman's ovaries. We believe that these immature egg cells have the ability to grow into young, fertilizable eggs.

        Our portfolio of fertility treatment options uses our patented technology including proprietary methods to identify and isolate EggPC cells from a patient's own ovarian tissue. By applying our EggPC technology platform in unique ways, we have commercialized one fertility treatment and are developing new fertility treatment options that are designed to improve egg health and revolutionize IVF.

Additional Information

        For additional information related to our business and operations, please refer to the reports incorporated herein by reference, including our Annual Report on Form 10-K for the year ended December 31, 2015, as described under the caption "Incorporation of Documents by Reference" on page 24 of this prospectus.

Our Corporate Information

        We were originally incorporated in the State of Delaware in April 2011 under the name "Ovastem, Inc." As used herein, the words "OvaScience," "OVAS," the "Company," "we," "us," and "our" refer to OvaScience, Inc. and our subsidiaries.

        Our corporate headquarters are located at 9 Fourth Avenue, Waltham, Massachusetts 02451 and our telephone number is (617) 500-2802. We maintain a website atwww.ovascience.com, to which we regularly post copies of our press releases as well as additional information about us. The information contained on, or that can be accessed through, our website is not a part of this prospectus. We have included our website address in this prospectus solely as an inactive textual reference.

        All brand names or trademarks appearing in this prospectus are the property of their respective holders. Use or display by us of other parties' trademarks, trade dress, or products in this prospectus is not intended to, and does not, imply a relationship with, or endorsements or sponsorship of, us by the trademark or trade dress owners.


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Offerings Under This Prospectus

        Under this prospectus, we may offer shares of our common stock and preferred stock, various series of debt securities and/or warrants, rights or purchase contracts to purchase any of such securities, either individually or in units, with a total value of up to $175,000,000, from time to time at prices and on terms to be determined by market conditions at the time of the offering. This prospectus provides you with a general description of the securities we may offer. Each time we offer a type or series of securities under this prospectus, we will provide a prospectus supplement that will describe the specific amounts, prices and other important terms of the securities, including, to the extent applicable:

    designation or classification;

    aggregate principal amount or aggregate offering price;

    maturity, if applicable;

    rates and times of payment of interest or dividends, if any;

    redemption, conversion or sinking fund terms, if any;

    voting or other rights, if any; and

    conversion or exercise prices, if any.

        The prospectus supplement also may add, update or change information contained in this prospectus or in documents we have incorporated by reference into this prospectus. However, no prospectus supplement will fundamentally change the terms that are set forth in this prospectus or offer a security that is not registered and described in this prospectus at the time of its effectiveness.

        We may sell the securities directly to investors or to or through agents, underwriters or dealers. We, and our agents or underwriters, reserve the right to accept or reject all or part of any proposed purchase of securities. If we offer securities through agents or underwriters, we will include in the applicable prospectus supplement:

    the names of those agents or underwriters;

    applicable fees, discounts and commissions to be paid to them;

    details regarding over-allotment options, if any; and

    the net proceeds to us.

This prospectus may not be used to consummate a sale of any securities unless it is accompanied by a prospectus supplement.


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RISK FACTORS

        Investing in our securities involves significant risk. The prospectus supplement applicable to each offering of our securities will contain a discussion of the risks applicable to an investment in OvaScience. Prior to making a decision about investing in our securities, you should carefully consider the specific factors discussed under the heading "Risk Factors" 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 the heading "Risk Factors" included in our most recent annual report on Form 10-K, as revised or supplemented by our subsequent quarterly reports on Form 10-Q or our current reports on Form 8-K that we have filed with the SEC, all of which are incorporated herein by reference, and which may be amended, supplemented or superseded from time to time by other reports we file with the SEC in the future. 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. The occurrence of any of these risks might cause you to lose all or part of your investment in the offered securities.investment. Additional risks not presently known to us or that we currently believe are immaterial may also significantly impair our business operations.


RATIO OF EARNINGS TO FIXED CHARGES

        Any time debt securities are offered pursuant to this prospectus, we will provide a table setting forth our ratio of earnings to fixed charges on a historical basis in the applicable prospectus supplement, if required.


SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This prospectus, each prospectus supplement and the documentsinformation incorporated by reference in this prospectus include forward-lookingand each prospectus supplement contains and may contain certain statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act that relate to future events or our future financial performanceAct. The words “may,” “might,” “can,” “will,” “to be,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “likely,” “continue” and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Words such as, but not limited to, "believe," "expect," "anticipate," "estimate," "intend," "may," "plan," "potential," "predict," "project," "targets," "likely," "will," "would," "could," "should," "continue," and similar expressions or phrases,“ongoing,” or the negative of those expressionsthese terms, or phrases,other comparable terminology are intended to identify forward-looking statements, althoughbut are not all forward-lookingthe exclusive means of identifying such statements. Those statements contain these identifying words. Although we believe that we have a reasonable basis for each forward-looking statement containedappear in this prospectus, any accompanying prospectus supplement and the documents incorporated herein and therein by reference, particularly in this prospectus, we caution you that these statements are based on our projections of the future that are subject to known and unknown risks and uncertainties and other factors that may cause our actual results, level of activity, performance or achievements expressed or implied by these forward-looking statements, to differ. The sections in our periodic reports, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2015, entitled "Business," "Risk“The Company,” “Risk Factors," and "Management's” “Management’s Discussion and Analysis of Financial Condition and Results of Operations," as well as other sections in thisOperations” and “Business,” and include statements regarding the intent, belief or current expectations of the Company and management that are subject to known and unknown risks, uncertainties and assumptions.

This prospectus, any prospectus supplement and the documents or reportsinformation incorporated by reference in this prospectus discussand any prospectus supplement also contain statements that are based on the current expectations of our company and management. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the factorsforward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements. The risks, uncertainties and assumptions that could contributecause actual results to these differences. These forward-looking statements include, among other things, statements about:

    the possibility that the IVF clinics that we work with may determine not to providediffer materially from those anticipated or continue providing the AUGMENT treatment or to delay such treatment, or to limit the population of patients receiving the treatment, based on clinical efficacy, safety or commercial, logistic, regulatory or other reasons;

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    our expectations relating to the on-boarding and qualification time period between execution of commercial agreements with clinics and when clinics begin offering the treatment commercially;

    our expectation that the AUGMENT treatment and OvaPrime treatment are exempt from premarket review and approval applicable to drugs, biologics, medicinal products and medical devices under applicable regulations in those countries where we have introduced or plan to introduce the AUGMENT treatment or the OvaPrime treatment;

    our ability to obtain regulatory approval or licenses where necessary for our fertility treatments and our ability comply with applicable national standards set by regulatory authorities and/or non-governmental bodies that govern IVF procedures and medicinal treatments;

    our plans to develop further clinical evidence for the AUGMENT treatment and the OvaPrime treatment;

    our anticipated timing of announcing results from studies or trials;

    the commercial ramp up of the AUGMENT treatment, successful introduction of the OvaPrime treatment through a non-commercial preceptorship training program outside of the United States;

    the science underlying our treatment and treatments in development (including the AUGMENT, OvaPrime and OvaTure treatments), which is unproven;

    our ability to obtain regulatory approval or licenses where necessary for our potential treatments;

    the size and growth of the market for our fertility treatments and our ability to serve those markets;

    our ability to develop our potential treatments, including the OvaPrime and OvaTure treatments, on the timelines we expect, if at all;

    our ability to commercialize the AUGMENT treatment and our potential treatments, including the OvaPrime treatment, on the timelines we expect, if at all;

    the rate and degree of market acceptance of any future fertility treatments that we develop;

    our ability to adjust our operations to expand our commercial capabilities, manage our organizational changes and comply with applicable securities laws and regulations;

    our ability to obtain additional financing;

    the accuracy of our estimates regarding expenses, future revenues, capital requirements and the need for additional financing; and

    our ability to attract and retain key scientific or management personnel.

        We may not actually achieve the plans, intentions or expectations disclosedimplied in our forward-looking statements and you shouldinclude, but are not place undue reliance on our forward-looking statements. Actual results or events could differ materially fromlimited to, those set forth above under the plans, intentionssection entitled “Risk Factors” and expectations disclosed in the forward-looking statements we make. We have included important cautionary statementsapplicable prospectus supplement, together with all of the other information contained in this prospectus or in the documents incorporated by reference ininto the prospectus supplement or appearing or incorporated by reference into this prospectus.

Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the SEC, we do not plan to publicly update or revise any forward-looking statements contained herein after we distribute this prospectus, particularlywhether as a result of any new information, future events or otherwise.

USE OF PROCEEDS

We will retain broad discretion over the use of the net proceeds from the sale of the securities offered hereby. Except as described in any applicable prospectus supplement or in any free writing prospectuses that we may authorize to be provided to you in connection with a specific offering, we currently intend to use the "Risk Factors" section,net proceeds from the sale of the securities offered hereby for working capital, capital expenditures and general corporate purposes. We may also use a portion of the net proceeds to invest in or acquire businesses or technologies that we believe could cause actual resultsare complementary to our own, although we have no current plans, commitments or eventsagreements with respect to differ materially from the forward-looking statements that we make. For a summary of such factors, please refer to the section entitled "Risk Factors" in this prospectus, as updated and supplemented by the discussion of risks and uncertainties under "Risk Factors" contained in any supplements to this prospectus and in our most recent annual report on Form 10-K, as revised or supplemented by our subsequent quarterly reports on Form 10-Q or our current reports on Form 8-K, as well as any amendments thereto, as filed with the SEC and which


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are incorporated herein by reference. The information contained in this document is believed to be currentacquisitions as of the date of this document. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

        In light of these assumptions, risks and uncertainties, the results and events discussed in the forward-looking statements contained in this prospectus or in any document incorporated herein by reference might not occur. Investors are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this prospectus or the date of the document incorporated by reference in this prospectus. We are not under any obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements attributable to us or to any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section.


USE OF PROCEEDS

        Unless otherwise indicatedwill set forth in the applicable prospectus supplement we intend toor free writing prospectus our intended use anyfor the net proceeds received from the sale of any securities under this prospectus to fund activities relatingsold pursuant to the development and commercialization of our fertility treatments, and for other general corporate purposes, including, but not limitedprospectus supplement or free writing prospectus. Pending these uses, we intend to working capital, capital expenditures, investments, acquisitions, should we choose to pursue any, and collaborations. We have not determined the amounts we plan to spend on any of the areas listed above or the timing of these expenditures. As a result, our management will have broad discretion to allocate the net proceeds, if any, we receive in connection with securities offered pursuant to this prospectus for any purpose. Pending application of the net proceeds as described above, we may initially invest the net proceeds in short-term, investment-grade, interest-bearing securities or apply them to the reductionsecurities.

DESCRIPTION OF CAPITAL STOCK

The following description is a general summary of short-term indebtedness.


PLAN OF DISTRIBUTION

        We may offer securities under this prospectus from time to time pursuant to underwritten public offerings, negotiated transactions, block trades or a combination of these methods. We may sell the securities (1) through underwriters or dealers, (2) through agents or (3) directly to one or more purchasers, or through a combination of such methods. We may distribute the securities from time to time in one or more transactions at:

        We may directly solicit offers to purchase the securities being offered by this prospectus. We may also designate agents to solicit offers to purchase the securities from time to time, and may enter into arrangements for "at-the-market," equity line or similar transactions. We will name in a prospectus supplement any underwriter or agent involved in the offer or sale of the securities.

        If we utilize a dealer in the sale of the securities being offered by this prospectus, 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.

        If we utilize an underwriter in the sale of the securities being offered by this prospectus, we will execute an underwriting agreement with the underwriter at the time of sale, and we will provide the name of any underwriter in the prospectus supplement which the underwriter will use to make resales


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of the securities to the public. In connection with the sale of the securities, we, or the purchasers of the securities for whom the underwriter may act as agent, may compensate the underwriter in the form of underwriting discounts or commissions. The underwriter may sell the securities to or through dealers, and the underwriter may compensate those dealers in the form of discounts, concessions or commissions.

        With respect to underwritten public offerings, negotiated transactions and block trades, we will provide in the applicable prospectus supplement information regarding any compensation we pay to underwriters, dealers or agents in connection with the offering of the securities, and any discounts, concessions or commissions allowed by underwriters to participating dealers. Underwriters, dealers and agents participating in the distribution of the securities may be deemed to be underwriters within the meaning of the Securities Act, and any discounts and commissions received by them and any profit realized by them on resale of the securities may be deemed to be underwriting discounts and commissions. We may enter into agreements to indemnify underwriters, dealers and agents against civil liabilities, including liabilities under the Securities Act, or to contribute to payments they may be required to make in respect thereof.

        If so indicated in the applicable prospectus supplement, we will authorize underwriters, dealers or other persons acting as our agents to solicit offers by certain institutions to purchase securities from us pursuant to delayed delivery contracts providing for payment and delivery on the date stated in each applicable prospectus supplement. Each contract will be for an amount not less than, and the aggregate amount of securities sold pursuant to such contracts shall not be less nor more than, the respective amounts stated in each applicable prospectus supplement. Institutions with whom the contracts, when authorized, may be made include commercial and savings banks, insurance companies, pension funds, investment companies, educational and charitable institutions and other institutions, but shall in all cases be subject to our approval. Delayed delivery contracts will not be subject to any conditions except that:

    the purchase by an institution of the securities covered under that contract shall not at the time of delivery be prohibited under the laws of the jurisdiction to which that institution is subject; and

    if the securities are also being sold to underwriters acting as principals for their own account, the underwriters shall have purchased such securities not sold for delayed delivery. The underwriters and other persons acting as our agents will not have any responsibility in respect of the validity or performance of delayed delivery contracts.

        One or more firms, referred to as "remarketing firms," may also offer or sell the securities, if a prospectus supplement so indicates, in connection with a remarketing arrangement upon their purchase. Remarketing firms will act as principals for their own accounts or as our agents. These remarketing firms will offer or sell the securities in accordance with the terms of the securities. Each prospectus supplement will identify and describe any remarketing firm and the terms of its agreement, if any, with us and will describe the remarketing firm's compensation. Remarketing firms may be deemed to be underwriters in connection with the securities they remarket. Remarketing firms may be entitled under agreements that may be entered into with us to indemnification by us against certain civil liabilities, including liabilities under the Securities Act, and may be customers of, engage in transactions with or perform services for us in the ordinary course of business.

        Certain underwriters may use this prospectus and any accompanying prospectus supplement for offers and sales related to market-making transactions in the securities. These underwriters may act as principal or agent in these transactions, and the sales will be made at prices related to prevailing market prices at the time of sale. Any underwriters involved in the sale of the securities may qualify as "underwriters" within the meaning of Section 2(a)(11) of the Securities Act. In addition, the


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underwriters' commissions, discounts or concessions may qualify as underwriters' compensation under the Securities Act and the rules of the Financial Industry Regulatory Authority, Inc., or FINRA.

        Shares of our common stock sold pursuant to the registration statement of which this prospectus is a part will be authorized for listing and trading on The NASDAQ Global Market. The applicable prospectus supplement will contain information, where applicable, as to any other listing, if any, on The NASDAQ Global Market or any securities market or other securities exchange of the securities covered by the prospectus supplement. Underwriters may make a market in our common stock, but will not be obligated to do so and may discontinue any market making at any time without notice. We can make no assurance as to the liquidity of or the existence, development or maintenance of trading markets for any of the securities.

        In order to facilitate the offering of the securities, certain persons participating in the offering may engage in transactions that stabilize, maintain or otherwise affect the price of the securities. This may include over-allotments or short sales of the securities, which involve the sale by persons participating in the offering of more securities than we sold to them. In these circumstances, these persons would cover such over-allotments or short positions by making purchases in the open market or by exercising their over-allotment option. In addition, these persons may stabilize or maintain the price of the securities by bidding for or purchasing the applicable security in the open market or by imposing penalty bids, whereby selling concessions allowed to dealers participating in the offering may be reclaimed if the 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. These transactions may be discontinued at any time.

        The underwriters, dealers and agents may engage in other transactions with us, or perform other services for us, in the ordinary course of their business.


DESCRIPTION OF COMMON STOCK

        We are authorized to issue 100,000,000 shares of common stock par value $0.001 per share. Asor shares of November 1, 2016,preferred stock that we had 35,608,368may issue. The description below and in any prospectus supplement does not include all of the terms of the shares of common stock outstandingor shares of preferred stock and approximately 83 stockholders of record.

        The following summary of certain provisions ofshould be read together with our common stock does not purport to be complete. You should refer to the section of this prospectus entitled "Certain Provisions of Delaware Lawamended and of the Company's Certificate of Incorporation and Bylaws" and our restated certificate of incorporation and ouramended and restated bylaws. This description also summarizes relevant provisions of the General Corporation Law of the State of Delaware, or “DGCL.” Therefore, please carefully consider the actual provisions of the amended and restated certificate of incorporation and amended and restated bylaws, both of which are includedhave been filed with the SEC as exhibits to the registration statement of which this prospectus isforms a part. The summary below is also qualified by provisionspart, and the DGCL.

General

Our restated certificate authorizes us to issue up to 100,000,000 shares of applicable law.common stock, $0.001 par value per share, and 5,000,000 shares of preferred stock, $0.001 par value per share, all of which shares of preferred stock are undesignated. Our board of directors may establish the rights and preferences of the preferred stock from time to time.

GeneralCommon Stock

Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders and do not have cumulative voting rights. An election of directors by our stockholders shall be determined by a plurality of the votes cast by the stockholders entitled to vote on the election. Holders of common stock are entitled to receive proportionately any dividends as may be declared by our board of directors, subject to any preferential dividend rights of any series of preferred stock that we may designate and issue in the future. All shares of common stock outstanding as of the date of this prospectus and, upon issuance and sale, all shares of common stock that we may offer pursuant to this prospectus, will be fully paid and nonassessable.

In the event of our liquidation or dissolution, the holders of common stock are entitled to receive proportionately our net assets available for distribution to stockholders after the payment of all debts


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and other liabilities and subject to the prior rights of any outstanding preferred stock. Holders of common stock have no preemptive, subscription, redemption or conversion rights. There are no redemption or sinking fund provisions applicable to the common stock. Our outstanding shares of common stock are validly issued, fully paid and nonassessable. The rights, preferences and privileges of holders of common stock are subject to and may be adversely affected by the rights of the holders of shares of any series of preferred stock that we may designate and issue in the future.

Transfer Agent and RegistrarPreferred Stock

        The transfer agent and registrar for our common stock is Computershare Trust Company, N.A., with offices at 250 Royall Street, Canton, Massachusetts 02021.

Stock Exchange Listing

        Our common stock is listed for quotation on The NASDAQ Global Market under the symbol "OVAS."


DESCRIPTION OF PREFERRED STOCK

        We are authorized to issue 5,000,000 shares of preferred stock, par value $0.001 per share. As of the date of this prospectus, no shares of our preferred stock were outstanding or designated. The following summary of certain provisions of our preferred stock does not purport to be complete. You should refer to our restated certificate of incorporation and our amended and restated bylaws, both of which are included as exhibits to the registration statement of which this prospectus is a part. The summary below is also qualified by provisions of applicable law.

General

Our board of directors may, without further action by our stockholders, from time to time, direct the issuance of shares of up to 5,000,000 shares of preferred stock in series and may, at the time of issuance, determine the rights, preferences and limitations of each series, including voting rights, dividend rights and redemption and liquidation preferences. Satisfaction of any dividend preferences of outstanding shares of preferred stock would reduce the amount of funds available for the payment of dividends on shares of our common stock. Holders of shares of preferred stock may be entitled to receive a preference payment in the event of any liquidation, dissolution or winding-up of our company before any payment is made to the holders of shares of our common stock. In some circumstances, the issuance of shares of preferred stock may render more difficult or tend to discourage a merger, tender offer or proxy contest, the assumption of control by a holder of a large block of our securities or the removal of incumbent management. Upon the affirmative vote of our board of directors, without stockholder approval, we may issue shares of preferred stock with voting and conversion rights which could adversely affect the holders of shares of our common stock.

        IfOur board of directors will fix the designations, voting powers, preferences and rights of each series, as well as the qualifications, limitations or restrictions thereof, of the preferred stock of each series that we offer under this

prospectus and applicable prospectus supplements in the certificate of designation relating to that series. We will file as an exhibit to the registration statement of which this prospectus is a specificpart, or will incorporate by reference from reports that we file with the SEC, the form of any certificate of designation that describes the terms of the series of preferred stock under this prospectus, we will describeare offering before the termsissuance of thethat series of preferred stock in the prospectus supplement for such offering and will file a copy of the restated certificate establishing the terms of the preferred stock with the SEC. To the extent required, thisstock. This description will include:

the number of shares offered, we are offering;

the liquidation preference if any,per share;

the purchase price per share;

the dividend rate per share, dividend period and the purchase price;

the dividend rate(s), period(s) and/or payment date(s), or method(s)dates and method of calculation for such dividends;


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    whether dividends will be cumulative or non-cumulative and, if cumulative, the date from which dividends will accumulate;

    our right, if any, to defer payment of dividends and the maximum length of any such deferral period;

    the procedures for any auction and remarketing, if any;

    the provisions for a sinking fund, if any;

    the provisions for redemption or repurchase, if applicable;

    applicable, and any restrictions on our ability to exercise those redemption and repurchase rights;

    any listing of the preferred stock on any securities exchange or market;

    whether the preferred stock will be convertible into our common stock or other securities of ours, including depositary shares and warrants, and, if applicable, the conversion period, the conversion price, (oror how it will be calculated)calculated, and conversion period;

    under what circumstances it may be adjusted;

    whether the preferred stock will be exchangeable into debt securities, and, if applicable, the exchange period, the exchange price, (oror how it will be calculated)calculated, and exchange period;

    under what circumstances it may be adjusted;

    voting rights, if any, of the preferred stock;

    preemption rights, if any;

    restrictions on transfer, sale or other assignment, if any;

    whether interests in the preferred stock will be represented by depositary shares;

    a discussion of any material and/or special U.S. federal income tax considerations applicable to the preferred stock;

    the relative ranking and preferences of the preferred stock as to dividend rights and rights upon liquidation, dissolutionif we liquidate, dissolve or windingwind up of the affairs of the Company; and

    our affairs;

    any material limitations on issuanceissuances of any class or series of preferred stock ranking pari passu with or senior to or on a parity with the series of preferred stock being issued as to dividend rights and rights upon liquidation, dissolutionif we liquidate, dissolve or windingwind up our affairs; and

    any other specific terms, rights, preferences, privileges, qualifications or restrictions of the Company.

preferred stock.

The General Corporation Law of the State of Delaware, or DGCL, the state of our incorporation, provides that the holders of preferred stock will have the right to vote separately as a class (or, in some cases, as a series) on an

amendment to our certificate of incorporation if the amendment would change the par value or, unless the certificate of incorporation provided otherwise, the number of authorized shares of the class or change the powers, preferences or special rights of the class or series so as to adversely affect the class or series, as the case may be. This right is in addition to any voting rights that may be provided for in the applicable certificate of designation.

Anti-Takeover Provisions

Section 203 of the Delaware General Corporation Law

We are subject to Section 203 of the DGCL, which prohibits a Delaware corporation from engaging in any business combination with any interested stockholder for a period of three years after the date that such stockholder became an interested stockholder, with the following exceptions:

before such date, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;

upon completion of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction began, excluding for purposes of determining the voting stock outstanding, but not the outstanding voting stock owned by the interested stockholder, those shares owned (i) by persons who are directors and also officers and (ii) 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

on or after such date, the business combination is approved by the board of directors and authorized at an annual or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least 662/3% of the outstanding voting stock that is not owned by the interested stockholder.

In general, Section 203 defines a “business combination” to include the following:

any merger or consolidation involving the corporation and the interested stockholder;

any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;

subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder;

any transaction involving the corporation that has the effect of increasing the proportionate share of the stock or any class or series of the corporation beneficially owned by the interested stockholder; or

the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits by or through the corporation.

In general, Section 203 defines an “interested stockholder” as an entity or person who, together with the person’s affiliates and associates, beneficially owns, or within three years prior to the time of determination of interested stockholder status did own, 15% or more of the outstanding voting stock of the corporation.

Staggered Board

Our restated certificate and by-laws divide our board of directors into three classes with staggered three year terms. In addition, our restated certificate and by-laws provide that directors may be removed only for cause and only by the affirmative vote of the holders of 75% of our shares of capital stock present in person or by proxy and entitled to vote. Under our restated certificate and by-laws, any vacancy on our board of directors, including a vacancy resulting from an enlargement of our board of directors, may be filled only by vote of a majority of our

directors then in office. Furthermore, our restated certificate provides that the authorized number of directors may be changed only by the resolution of our board of directors, subject to the rights of any holders of preferred stock to elect directors. The classification of our board of directors and the limitations on the ability of our stockholders to remove directors, change the authorized number of directors and fill vacancies could make it more difficult for a third party to acquire, or discourage a third party from seeking to acquire, control of us.

Authorized but Unissued Shares

The authorized but unissued shares of common stock and preferred stock are available for future issuance without stockholder approval, subject to any limitations imposed by the listing standards of any exchange on which our shares are listed. These additional shares may be used for a variety of corporate finance transactions, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved common stock and preferred stock could make more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.

Special Meeting of Stockholders; Advance Notice Requirements for Stockholder Proposals and Director Nominations; Stockholder Action

Our restated certificate provides that we will indemnify each person who was or is a party or threatened to be made a party to any threatened, pending or completed action, suit or proceeding, other than an action by or in the right of us, by reason of the fact that he or she is or was, or has agreed to become, a director or officer, or is or was serving, or has agreed to serve, at our request as a director, officer, partner, employee or trustee of, or in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise (all such persons being referred to as an “Indemnitee”), or by reason of any action alleged to have been taken or omitted in such capacity, against all expenses, including attorneys’ fees, judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with such action, suit or proceeding and any appeal therefrom, if such Indemnitee acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, our best interests, and, with respect to any criminal action or proceeding, he or she had no reasonable cause to believe his or her conduct was unlawful.

Super Majority Voting

The DGCL provides generally that the affirmative vote of a majority of the shares entitled to vote on any matter is required to amend a corporation’s certificate of incorporation or by-laws, unless a corporation’s certificate of incorporation or by-laws, as the case may be, require a greater percentage. Our by-laws may be amended or repealed by a majority vote of our board of directors or the affirmative vote of the holders of at least 75% of the votes that all of our stockholders would be entitled to cast in any election of directors. In addition, the affirmative vote of the holders of at least 75% of the votes that all of our stockholders would be entitled to cast in any election of directors is required to amend or repeal or to adopt any provisions inconsistent with certain of the provisions of our restated certificate.

Transfer Agent and Registrar

The transfer agent and registrar for our common stock is Computershare Trust Company, N.A., with offices at 250 Royall Street, Canton, Massachusetts 02021. The transfer agent for any series of preferred stock will be set forth in the applicable prospectus supplement.


DESCRIPTION OF DEBT SECURITIES

        The following description, together with the additional information we include in any applicable prospectus supplements, summarizes the material terms and provisions of the debt securities that we may offer under this prospectus.prospectus will be named and described in the prospectus supplement for that series.

Listing on Nasdaq

Our common stock is listed on the Nasdaq Capital Market under the symbol “TPST.”

DESCRIPTION OF DEBT SECURITIES

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 future debt securities that we may offer pursuant tounder this prospectus, we will describe the particular terms of any debt securities that we may offer in more detail in the applicable prospectus supplement. If we so indicate in a prospectus supplement, theThe terms of any debt securities offered under sucha prospectus supplement may differ from the terms described below. Unless the context requires otherwise, whenever we describe below, andrefer to the extentindenture, we also are referring to any supplemental indentures that specify the terms set forth inof a prospectus supplement differ from the terms described below, the terms set forth in the prospectus supplement shall control.particular series of debt securities.

        We may sell from time to time, in one or more offerings under this prospectus, debt securities, which may be senior or subordinated. We will issue any such seniorthe debt securities under a seniorthe indenture that we will enter into with athe trustee to be named in the senior indenture. WeThe indenture will issue any such subordinated debt securitiesbe qualified under a subordinated indenture, which we will enter into with a trustee to be named in the subordinated indenture.Trust Indenture Act of 1939, as amended, or the Trust Indenture Act. 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 these documentsdebt 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. We use the term "indentures" to refer to either the senior indenturepart or the subordinated indenture, as applicable. The indentures will be qualified underincorporated by reference from reports that we file with the Trust Indenture Act of 1939, as in effect on the date of the indenture. We use the term "debenture trustee" to refer to either the trustee under the senior indenture or the trustee under the subordinated indenture, as applicable.


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The following summariessummary of material provisions of the senior debt securities, the subordinated debt securities and the indentures areindenture is subject to, and qualified in theirits entirety by reference to, all of the provisions of the indenture applicable to a particular series of debt securities.

General

        Each indenture provides that We urge you to read the applicable prospectus supplements and any related free writing prospectuses related to the debt securities that we may be issued from time to time in one or more series and may be denominated and payable in foreign currencies or units based on or relating to foreign currencies. Neitheroffer under this prospectus, as well as the complete indenture limitsthat contains the terms of the debt securities.

General

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 issued thereunder,in any currency or currency unit that we may designate. Except for the limitations on consolidation, merger and eachsale of all or substantially all of our assets contained in the indenture, provides that the specific terms of the indenture do not contain any seriescovenants or other provisions designed to give holders of any debt securities shall be set forthprotection against changes in our operations, financial condition or determined pursuant to, an authorizing resolution and/or a supplemental indenture, if any, relating to such series.transactions involving us.

We will describe in eachthe applicable prospectus supplement the following terms relating to a series of debt securities:

    the title or designation;

    the aggregate principal amount and any limit on the amount that may be issued;

    the currency or units based on or relating to currencies in which debt securities of such series are denominated and the currency or units in which principal or interest or both will or may be payable;

    whether we will issue the series of debt securities in globalbeing offered, including:

    the title of the series of debt securities;

    any limit upon the aggregate principal amount that may be issued;

    the maturity date or dates;

    the form of the debt securities of the series;

    the applicability of any guarantees;

    whether or not the debt securities will be secured or unsecured, and the terms of any globalsecured debt;

    whether the debt securities rank as senior debt, senior subordinated debt, subordinated debt or any combination thereof, and who the depositaryterms of any subordination;

    if the price (expressed as a percentage of the aggregate principal amount thereof) at which such debt securities will be;

    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 date andthereof, or if applicable, the dateportion of the principal amount of such debt securities that is convertible into another security or dates onthe method by which principal willany such portion shall be payable;

    determined;

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 date or dates interest will be payable and the regular record dates for interest payment dates or the method for determining such dates;

whether or not the debt securities will be secured or unsecured, and the terms of any secured debt;

the terms of the subordination of any series of subordinated debt;

the place or places where payments will be payable;

our right, if any, to defer payment of interest and the maximum length of any such deferral period;

if applicable, the date if any,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;

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'sholder’s option to purchase, the series of debt securities;

whethersecurities and the indenture will restrict our ability to pay dividends,currency or will require us to maintain any asset ratios or reserves;

whether we will be restricted from incurring any additional indebtedness;

a discussion of any material or special U.S. federal income tax considerations applicable to a series ofcurrency unit in which the debt securities;

securities are payable;

the denominations in which we will issue the series of debt securities, if other than denominations of $1,000 and any integral multiple thereof;

any and


Table all terms, if applicable, relating to any auction or remarketing of Contentsthe 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;

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;

the depositary for such global security or securities;

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’ option) conversion or exchange features, the applicable conversion or exchange period and the manner of settlement for any conversion or exchange;

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;

additions to or changes in the covenants applicable to the particular debt securities being issued, including, among others, the consolidation, merger or sale covenant;

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;

additions to or changes in or deletions of the provisions relating to covenant defeasance and legal defeasance;

additions to or changes in the provisions relating to satisfaction and discharge of the indenture;

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;

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;

whether interest will be payable in cash or additional debt securities at our or the holders’ option and the terms and conditions upon which the election may be made;

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 “United States person” for federal tax purposes;

any restrictions on transfer, sale or assignment of the debt securities of the series; and

any other specific terms, preferences, rights or limitations of, or restrictions on, the debt securities.

        We may issue debt securities, that provide for an amount less than their stated principal amount to be due and payable upon declaration of acceleration of their maturity pursuant toany other additions or changes in the termsprovisions of the indenture. We will provide you with information on the federal income tax considerationsindenture, and other special considerationsany terms that may be required by us or advisable under applicable to any of these debt securities in the applicable prospectus supplement.laws or regulations.

Conversion or Exchange Rights

We will set forth in the applicable prospectus supplement the terms if any, 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.

Consolidation, Merger or Sale; No ProtectionSale

Unless we provide otherwise in Eventthe prospectus supplement applicable to a particular series of a Change of Control or Highly Leveraged Transaction

        The indentures dodebt securities, the indenture will not contain any covenant that restricts our ability to merge or consolidate, or sell, convey, transfer or otherwise dispose of allour assets as an entirety or substantially all of our assets.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 indenturesindenture or the debt securities, as appropriate.

Events of Default under the Indenture

Unless we stateprovide otherwise in the applicable prospectus supplement theapplicable to a particular series of debt securities, will not contain any provisions that may afford holders of the debt securities protection in the event we have a change of control or in the event of a highly leveraged transaction (whether or not such transaction results in a change of control), which could adversely affect holders of debt securities.

Events of Default Under the Indenture

        The following are events of default under the indenturesindenture with respect to any series of debt securities that we may issue:

if we fail to pay the principal of, or premium, if any, on any series of debt securities 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 such series; provided, however, that a valid extension of the time formaturity of such debt securities in accordance with the terms of any indenture supplemental thereto shall not constitute a default in the payment has not been extendedof principal or delayed;

premium, if any;

if we fail to observe or perform any other covenant set forthor agreement contained in the debt securities of such series or the applicable indentures,indenture, other than a covenant specifically relating to and for the benefit of holders of another series of debt securities, and our failure continues for 90 days after we receive written notice of such failure, requiring the same to be remedied and stating that such is a notice of default thereunder, from the debenture trustee or holders of not less than a majorityat least 25% in aggregate principal amount of the outstanding debt securities of the applicable series; and

if specified events of bankruptcy, insolvency or reorganization occur as to us.occur.

        NoIf any event of default with respect to a particular series of debt securities (except as to certain events of bankruptcy, insolvency or reorganization) necessarily constitutes an event of default with respect to any other series of debt securities. The occurrence of an event of default may constitute an event of default under any bank credit agreements we may have in existence from time to time. In addition, the occurrence of certain events of default or an acceleration under the indenture may constitute an event of default under certain of our other indebtedness outstanding from time to time.


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        If an event of default with respect to debt securities of any series at the time outstanding occurs and is continuing thenand if such event of default is known to an officer the trustee, the trustee shall mail to each holder, pursuant to Section 313(c) of the Trust Indenture Act, notice of the event of default within the earlier of 90 days after it occurs and 30 days after it is known to an officer of the trustee or the holderswritten notice of not less than a majority in principal amount of the outstanding debt securities of that series may, by a notice in writing to us (and to the debenture trustee if givenit is received by the holders), declare to be due and payable immediatelytrustee, provided that such event of default has not been cured.

Additionally, except in the principal (or, ifcase of a default in the debt securities of that series are discount securities, that portionpayment of the principal amountof (or premium, if any) or interest on any security, the trustee shall be protected in withholding such notice if and so long as may be specifiedthe officers of the trustee in good faith determine that the withholding of such notice is in the terms of that series) of and premium and accrued and unpaid interest if any, on all debt securities of that series. Before a judgment or decree for payment of the money due has been obtained with respect to debt securities of any series, theholders

The holders of a majority in principal amount of the outstanding debt securities of thatan affected series (or, at a meetingmay waive any default or event of holders of suchdefault with respect to the series at which a quorum is present, the holders of a majority in principal amount of the debt securities of such series represented at such meeting) may rescind and annul the acceleration if allits consequences, except defaults or events of default other than the non-paymentregarding payment of accelerated principal, premium, if any, and interest, if any, with respect to debt securities of that series, have been cured or waived as provided in the applicable indenture (including payments or deposits in respect of principal, premium or interest, that had become due other than as a resultunless we have cured the default or event of such acceleration). We refer you todefault in accordance with the prospectus supplement relating to any series of debt securities that are discount securities forindenture. Any waiver shall cure the particular provisions relating to acceleration of a portion of the principal amount of such discount securities upon the occurrence of andefault or event of default.

Subject to the terms of the indentures,indenture, if an event of default under an indenture shall occur and be continuing, the debenture 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 debenture 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 debenture trustee, or exercising any trust or power conferred on the debenture trustee, with respect to the debt securities of that series, provided that:

subject to its duties under the Trust Indenture Act, the debenture 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.

A holder of the debt securities of any series will only have the right to institute a proceeding under the indenturesindenture or to appoint a receiver or trustee, or to seek other remedies only if:

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.

We will periodically file statements with the applicable debenture trustee regarding our compliance with specified covenants in the applicable indenture.


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Modification of Indenture; Waiver

        The debentureWe and the trustee and we may change the applicablean indenture without the consent of any holders with respect to specific matters, including:matters:

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;

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;

to make any change anything that does not materially adversely affect the interests of any holder of debt securities of any series issuedin any material respect;

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 “Description of Debt Securities—General” to establish the form of any certifications required to be furnished pursuant to such indenture.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;

 

to evidence and provide for the acceptance of appointment under any indenture by a successor trustee; or

to comply with any requirements of the SEC in connection with the qualification of any indenture under the Trust Indenture Act.

In addition, under the indentures,indenture, the rights of holders of a series of debt securities may be changed by us and the debenture 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 (or, at a meeting of holders of such series at which a quorum is present, the holders of a majority in principal amount of the debt securities of such series represented at such meeting) that is affected. However, unless we provide otherwise in the debentureprospectus supplement applicable to a particular series of debt securities, we and the trustee and we may make the following changes only with the consent of each holder of any outstanding debt securities affected:

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 debt securities;

reducing the principal amountseries of discount securities payable upon acceleration of maturity;

making the principal of or premium or interest on any debt security payable in currency other than that stated in the debt security;securities; or

reducing the percentage of debt securities, the holders of which are required to consent to any amendment, supplement, modification or waiver.

        Except for certain specified provisions, the holders of at least a majority in principal amount of the outstanding debt securities of any series (or, at a meeting of holders of such series at which a quorum is present, the holders of a majority in principal amount of the debt securities of such series represented at such meeting) may on behalf of the holders of all debt securities of that series waive our compliance with provisions of the indenture. The holders of a majority in principal amount of the outstanding debt securities of any series may on behalf of the holders of all the debt securities of such series waive any past default under the indenture with respect to that series and its consequences, except a default in the payment of the principal of, premium or any interest on any debt security of that series or in respect of a covenant or provision, which cannot be modified or amended without the consent of the holder of each outstanding debt security of the series affected;provided,however, that the holders of a majority in principal amount of the outstanding debt securities of any series may rescind an acceleration and its consequences, including any related payment default that resulted from the acceleration.Discharge

Discharge

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:


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    appoint any successor trustee.

In order to exercise our rights to be discharged, with respect to a series, we must deposit with the trustee money or government obligations sufficient to pay all the principal of, theany premium, if any, and interest on, the debt securities of the series on the dates payments are due.

Form, Exchange and Transfer

We will issue the debt securities of each series only in fully registered form without coupons and, unless we provide otherwise specify in the applicable prospectus supplement, in denominations of $1,000 and any integral multiple thereof. The indentures provideindenture 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 athe applicable 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 to any book-entry securities will be set forth in the applicable prospectus supplement.

At the option of the holder, subject to the terms of the indenturesindenture 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.

Subject to the terms of the indenturesindenture 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, or in the applicable indenture, we will makeimpose no service charge for any registration of transfer or exchange, but we may require payment of any taxes or other governmental charges.

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.

If we elect to redeem the debt securities of any series, we will not be required to:

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.

Information Concerning the Debenture Trustee

The debenture trustee, other than during the occurrence and continuance of an event of default under the applicablean 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 debenture trustee under such indenture must use the same degree of care as a prudent person would exercise or use in the conduct of his or her own affairs. Subject to this provision, the debenture trustee is under no obligation to exercise any of the powers given it by the indenturesindenture 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.


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Payment and Paying Agents

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.

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 we make interest payments by check whichthat we will mail to the holder.holder or by wire transfer to certain holders. Unless we otherwise indicate in athe applicable prospectus supplement, we will designate the corporate trust office of the debenture trustee in the City of New York 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.

All money we pay to a paying agent or the debenture trustee for the payment of the principal of or any premium or interest on any debt securities whichthat remains unclaimed at the end of two years after such principal, premium or interest has become due and payable will be repaid to us, and the holder of the debt security thereafter may look only to us for payment thereof.

Governing Law

The indenturesindenture and the debt securities will be governed by and construed in accordance with the internal laws of the State of New York, except to the extent that the Trust Indenture Act is applicable.

Subordination of Subordinated Debt Securities

        Our obligations pursuant to any subordinated debt securities will be unsecured and will be subordinate and junior in priority of payment to certain of our other indebtedness to

DESCRIPTION OF WARRANTS

The following description, together with the extent described in a prospectus supplement. The subordinated indenture does not limit the amount of senior indebtednessadditional information we may incur. It also does not limit us from issuinginclude in any other secured or unsecured debt.


DESCRIPTION OF WARRANTS

General

        We may issue warrants to purchase shares of our common stock, preferred stock and/or debt securities in one or more series together with other securities or separately, as described in the applicable prospectus supplement. Below is a description of certain generalsupplements and free writing prospectuses, summarizes the material terms and provisions of the warrants that we may offer. Particular termsoffer under this prospectus, which may consist of the warrants will be described in the warrant agreements and the prospectus supplement relating to the warrants.

        The applicable prospectus supplement will contain, where applicable, the following terms of and other information relating to the warrants:


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    if applicable, the exercise price for shares of our preferred stock, the number of shares of preferred stock to be received upon exercise, and a description of that series of our preferred stock;

    if applicable, the exercise price for our debt securities, the amount of debt securities to be received upon exercise, and a description of that series of debt securities;

    the date on which the right to exercise the warrants will begin and the date on which that right will expire or, if you may not continuously exercise the warrants throughout that period, the specific date or dates on which you may exercise the warrants;

    whether the warrants will be issued in fully registered form or bearer form, in definitive or global form or in any combination of these forms, although, in any case, the form of a warrant included in a unit will correspond to the form of the unit and of any security included in that unit;

    any applicable material U.S. federal income tax consequences;

    the identity of the warrant agent for the warrants and of any other depositaries, execution or paying agents, transfer agents, registrars or other agents;

    the proposed listing, if any, of the warrants or any securities purchasable upon exercise of the warrants on any securities exchange;

    if applicable, the date from and after which the warrants and the common stock, preferred stock and/or debt securities will be separately transferable;

    if applicable, the minimum or maximum amount of the warrants that may be exercised at any one time;

    information with respect to book-entry procedures, if any;

    the anti-dilution provisions of the warrants, if any;

    any redemption or call provisions;

    whether the warrants may be sold separately or with other securities as parts of units; and

    any additional terms of the warrants, including terms, procedures and limitations relating to the exchange and exercise of the warrants.

Transfer Agent and Registrar

        The transfer agent and registrar for any warrants will be set forth in the applicable prospectus supplement.


DESCRIPTION OF RIGHTS

General

        We may issue rights to our stockholders to purchase shares of our common stock, preferred stock or the otherdebt securities describedand may be issued in this prospectus. Weone or more series. Warrants may offer rights separatelybe issued independently or together with one or more additional rights, debt securities, preferred stock, common stock, warrants or purchase contracts, 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


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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. We will provide in a prospectus supplement the following terms of the rights being issued:

    the date of determining the stockholders entitled to the rights distribution;

    the aggregate number of shares of common stock, preferred stock or other securities purchasable upon exercise of the rights;

    the exercise price;

    the aggregate number of rights issued;

    whether the rights are transferrable and the date, if any, on and after which the rights may be separately transferred;

    the date on which the right to exercise the rights will commence, and the date on which the right to exercise the rights will expire;

    the method by which holders of rights will be entitled to exercise;

    the conditions to the completion of the offering, if any;

    the withdrawal, termination and cancellation rights, if any;

    whether there are any backstop or standby purchaser or purchasers and the terms of their commitment, if any;

    whether stockholders are entitled to oversubscription rights, if any;

    any applicable material U.S. federal income tax considerations; and

    any other terms of the rights, including terms, procedures and limitations relating to the distribution, exchange and exercise of the rights, as applicable.

        Each right will entitle the holder of rights to purchase for cash the principal amount of shares of common stock, preferred stock or other securities 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.

        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, preferred stock or other securities, 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.

Rights Agent

        The rights agent for any rights we offer will be set forth in the applicable prospectus supplement.


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DESCRIPTION OF PURCHASE CONTRACTS

        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 determinedoffered 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'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's obligations in a manner specified in the applicable prospectus supplement.

        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:

    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;

    whether the purchase contracts are to be prepaid;

    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;

    any acceleration, cancellation, termination or other provisions relating to the settlement of the purchase contracts;

    any applicable material U.S. federal income tax considerations; and

    whether the purchase contracts will be issued in fully registered or global form.

        The preceding description sets forth certain general terms and provisions of the purchase contracts to which any prospectus supplement, and may relate. The particular terms of the purchase contractsbe attached 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 differor separate 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.


DESCRIPTION OF UNITS

        The following description, together with the additional information that we include in any applicable prospectus supplements summarizes the material terms and provisions of the units that we may offer under this prospectus.those securities. While the terms we have summarized below will apply generally to any unitswarrants that we may offer under this prospectus, we will describe the particular terms of any series of unitswarrants that we may offer in more detail in the applicable prospectus supplement.supplement and any applicable free writing prospectus. The terms of any unitswarrants offered under a prospectus supplement may differ from the terms described below.


Table However, no prospectus supplement will fundamentally change the terms that are set forth in this prospectus or offer a security that is not registered and described in this prospectus at the time of Contentsits effectiveness.

We have filed forms of the warrant agreements and forms of warrant certificates containing the terms of the warrants being offered as exhibits to the registration statement of which this prospectus is a part. We will incorporate by reference from reports that we file with the SEC, the form of unitwarrant agreement, if any, including a form of warrant certificate, that describes the terms of the particular series of unitswarrants we are offering, and any supplemental agreements, before the issuance of the related series of units.offering. The following summaries of material terms and provisions of the unitswarrants and the warrant agreements are subject to, and qualified in their entirety by reference to, all the provisions of the unitwarrant agreement and any supplemental agreementswarrant certificate applicable to athe particular series of units.warrants that we may offer under this prospectus. We urge you to read the applicable prospectus supplements related to the particular series of unitswarrants that we may offer under this prospectus, as well as any related free writing prospectuses, and the complete unit agreementwarrant agreements and any supplemental agreementswarrant certificates that contain the terms of the units.warrants.

General

        We may issue units consisting of common stock, preferred stock, one or more debt securities, warrants, rights or purchase contacts for the purchase of common stock, preferred stock and/or debt securities in one or more series, in any combination. Each unit will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have 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 time before a specified date.

We will describe in the applicable prospectus supplement the terms of therelating to a series of unitswarrants being offered, including:

    the title of such securities;

    the offering price or prices and aggregate number of warrants offered;

    the currency or currencies for which the warrants may be purchased;

    if applicable, the designation and terms of the unitssecurities with which the warrants are issued and the number of warrants issued with each such security or each principal amount of such security;

    if applicable, the date on and after which the warrants and the related securities will be separately transferable;

    if applicable, the minimum or maximum amount of such warrants which may be exercised at any one time;

    in the case of warrants to purchase debt securities, the principal amount of debt securities purchasable upon exercise of one warrant and the price at which, and currency in which, this principal amount of debt securities may be purchased upon such exercise;

    in the case of warrants to purchase common stock or preferred stock, the number 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 the currency in which, these shares may be purchased upon such exercise;

    the effect of any merger, consolidation, sale or other disposition of our business on the warrant agreements and the warrants;

the terms of any rights to redeem or call the warrants;

the terms of any rights to force the exercise of the warrants;

any provisions for changes to or adjustments in the exercise price or number of securities issuable upon exercise of the warrants;

the dates on which the right to exercise the warrants will commence and expire;

the manner in which the warrant agreements and warrants may be modified;

a discussion of any material or special U.S. federal income tax consequences of holding or exercising the warrants;

the terms of the securities comprising the units, including whether and under what circumstances those securities may be held or transferred separately;

any provisionsissuable upon exercise of the governing unit agreement that differ from those described below;warrants; and

any provisions forother specific terms, preferences, rights or limitations of or restrictions on the issuance, payment, settlement, transfer or exchangewarrants.

Before exercising their warrants, holders of warrants will not have any of the units orrights of holders of the securities comprisingpurchasable upon such exercise, including:

in the units.case of warrants to purchase debt securities, the right to receive payments of principal of, or premium, if any, or interest on, the debt securities purchasable upon exercise or to enforce covenants in the applicable indenture; or

 The provisions described

in this section, as well as thosethe 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.

Exercise of Warrants

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 the specified time on the expiration date that we set forth in anythe applicable prospectus supplement. After the close of business on the expiration date, unexercised warrants will become void.

Unless we otherwise specify in the applicable prospectus supplement, 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 amount to the warrant agent in immediately available funds, as 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 in connection with the exercise of the warrant.

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. If we so indicate in the applicable prospectus supplement, holders of the warrants may surrender securities as described under "Descriptionall or part of Common Stock," "Descriptionthe exercise price for warrants.

Enforceability of Preferred Stock," "Description of Debt Securities," "DescriptionRights by Holders of Warrants" "Description

Each warrant agent will act solely as our agent under the applicable warrant agreement and will not assume any obligation or relationship of Rights"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 its right to exercise, and "Descriptionreceive the securities purchasable upon exercise of, Purchase Contracts"its warrants.

DESCRIPTION OF UNITS

We may issue units consisting of any combination of the other types of securities offered under this prospectus in one or more series. We may evidence each series of units by unit certificates that we will apply to eachissue under a separate agreement. We may enter into unit as applicable, and to any common stock, preferred stock, debt security, warrant, rightagreements with a unit agent. Each unit agent will be a bank or purchase contract included in each unit, as applicable.

Unit Agent

        Thetrust company that we select. We will indicate the name and address of the unit agent for any units we offer will be set forth in the applicable prospectus supplement.supplement relating to a particular series of units.

IssuanceThe following description, together with the additional information included in Seriesany applicable prospectus supplement, summarizes the general features of the units that we may offer under this prospectus. You should read any prospectus supplement and any free writing prospectus that we may authorize to be provided to you related to the series of units being offered, as well as the complete unit agreements that contain the terms of the units. Specific unit agreements will contain additional important terms and provisions and we will file as an exhibit to the registration statement of which this prospectus is a part, or will incorporate by reference from another report that we file with the SEC, the form of each unit agreement relating to units offered under this prospectus.

If we offer any units, certain terms of that series of units will be described in the applicable prospectus supplement, including, without limitation, the following, as applicable:

 We may issue

the title of the series of units;

identification and description of the separate constituent securities comprising the units;

the price or prices at which the units in such amountswill be issued;

the date, if any, on and in such numerous distinct series as we determine.after which the constituent securities comprising the units will be separately transferable;

a discussion of certain United States federal income tax considerations applicable to the units; and

any other terms of the units and their constituent securities.

Enforceability of Rights by Holders of Units

        EachTo the extent applicable, each unit agent will act solely as our agent under the applicable unit agreement and will not assume any obligation or relationship of agency or trust with any holder of any unit. A single bank or trust company may act as unit agent for more than one series of units. A unit agent will have no duty or responsibility in case of any default by us under the applicable unit agreement or unit, including any duty or responsibility to initiate any proceedings at law or otherwise, or to make any demand upon us. Any holder of a unit may, without the consent of the related unit agent or the holder of any other unit, enforce by appropriate legal action its rights as holder under any security included in the unit.


TableWe, any unit agents and any of Contents

CERTAIN PROVISIONS OF DELAWARE LAW AND OF THE COMPANY'S CERTIFICATE OF INCORPORATION AND BYLAWS

Anti-Takeover Provisions

Delaware Law

        We are subject to Section 203their agents may treat the registered holder of any unit certificate as an absolute owner of the Delaware General Corporation Law. Subjectunits evidenced by that certificate for any purpose and as the person entitled to certain exceptions, Section 203 prevents a publicly held Delaware corporation from engaging in a "business combination"exercise the rights attaching to the units so requested, despite any notice to the contrary. See “Legal Ownership of Securities.”

DESCRIPTION OF RIGHTS

We may issue rights to purchase common stock, preferred stock, debt securities or units. Rights may be issued independently or together with other securities and may or may not be transferable by the person purchasing or receiving the rights. In connection with any "interested stockholder"rights offering to our stockholders, we may enter into a standby underwriting, backstop or other arrangement with one or more underwriters or other persons pursuant to which such underwriters or other persons would purchase any offered securities remaining unsubscribed for three yearsafter such rights offering. In connection with a rights offering to our stockholders, we would distribute certificates evidencing the rights and a prospectus supplement to our stockholders on or about the record date that we set for receiving rights in such rights offering.

The applicable prospectus supplement will describe the following terms of any rights we may issue, including some or all of the following:

the title and aggregate number of the rights

the subscription price or a formula for the determination of the subscription price for the rights and the currency or currencies in which the subscription price may be payable;

if applicable, the designation and terms of the securities with which the rights are issued and the number of rights issued with each such security or each principal amount of such security;

the number or a formula for the determination of the number of the rights issued to each stockholder;

the extent to which the rights are transferable;

in the case of rights to purchase debt securities, the principal amount of debt securities purchasable upon exercise of one right;

in the case of rights to purchase common stock or preferred stock, the type of stock and number of shares of stock purchasable upon exercise of one right;

the date thaton which the person became an interested stockholder, unlessright to exercise the interested stockholder attained such status with the approval of our board of directors or unless the business combination is approved in a prescribed manner. A "business combination" includes, among other things, a merger or consolidation involving usrights will commence, and the "interested stockholder" anddate on which the salerights will expire (subject to any extension);

if applicable, the minimum or maximum amount of more than 10% of our assets. In general, an "interested stockholder" is any entity or person beneficially owning 15% or more of our outstanding voting stock and any entity or person affiliated with or controlling or controlled by such entity or person.

Staggered Board

        Our restated certificate of incorporation and by-laws divide our board of directors into three classes with staggered three year terms. In addition, our restated certificate of incorporation and by-laws providethe rights that directors may be removed onlyexercised at any one time;

the extent to which such rights include an over-subscription privilege with respect to unsubscribed securities;

if applicable, the procedures for causeadjusting the subscription price and only by the affirmative votenumber of the holders of 75% of our shares of capitalcommon stock present in person or by proxy and entitled to vote. Under our restated certificatepreferred stock purchasable upon the exercise of incorporation and by-laws, any vacancyeach right upon the occurrence of certain events, including stock splits, reverse stock splits, combinations, subdivisions or reclassifications of common stock or preferred stock;

the effect on our board of directors, including a vacancy resulting from an enlargement of our board of directors, may be filled only by vote of a majority of our directors then in office. Furthermore, our restated certificate of incorporation provides that the authorized number of directors may be changed only by the resolution of our board of directors, subject to the rights of any holders of preferred stock to elect directors. The classificationmerger, consolidation, sale or other disposition of our board of directors and business;

the limitations on the ability of our stockholders to remove directors, change the authorized number of directors and fill vacancies could make it more difficult for a third party to acquire, or discourage a third party from seeking to acquire, control of our company.

Authorized but Unissued Shares

        The authorized but unissued shares of common stock and preferred stock are available for future issuance without stockholder approval, subject to any limitations imposed by the listing standardsterms of any exchange on which our shares are listed. These additional shares may be used for a variety of corporate finance transactions, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved common stock and preferred stock could make more difficultrights to redeem or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.call the rights;

Special Meeting of Stockholders; Advance Notice Requirements for Stockholder Proposals and Director Nominations; Stockholder Action

 Our restated certificate of incorporation provides that we will indemnify each person who was or is a party or threatened to be made a party to any threatened, pending or completed action, suit or proceeding, other than an action by or in the right of us, by reason of the fact that he or she is or was, or has agreed to become, a director or officer, or is or was serving, or has agreed to serve, at our request as a director, officer, partner, employee or trustee of, or in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise (all such persons being referred to as an "Indemnitee"), or by reason of any action alleged to have been taken or omitted in such capacity, against all expenses, including attorneys' fees, judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with such action, suit or proceeding and any appeal therefrom, if


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such Indemnitee acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, our best interests, and,information with respect to any criminal action or proceeding, he or she had no reasonable cause to believe his or her conduct was unlawful.book-entry procedures, if any;

Super Majority Voting

 The General Corporation Law

the terms of the State of Delaware provides generally that the affirmative vote of a majoritysecurities issuable upon exercise of the shares entitled to vote onrights;

if applicable, the material terms of any matter is required to amend a corporation's certificate of incorporation or by-laws, unless a corporation's certificate of incorporation or by-laws, as the case may be, require a greater percentage. Our by-laws may be amended or repealed by a majority vote of our board of directors or the affirmative vote of the holders of at least 75% of the votes that all our stockholders would be entitled to cast in any election of directors. In addition, the affirmative vote of the holders of at least 75% of the votes that all our stockholders would be entitled to cast in any election of directors is required to amend or repeal or to adopt any provisions inconsistent with certain of the provisions of our restated certificate of incorporation.

Limitation of Liability and Indemnification

        Our restated certificate of incorporation and our amended and restated bylaws provide that each person who was or is made a party or is threatened to be made a party to or is otherwise involved (including, without limitation, as a witness) in any action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he or she is or was one of our directors or officers or is or was serving at our request as a director, officer, or trustee of another corporation, or of a partnership, joint venture, truststandby underwriting, backstop or other enterprise, including service with respect to an employee benefit plan, whether the basis of such proceeding is alleged action in an official capacity as a director, officer or trustee or in any other capacity while serving as a director, officer or trustee, shall be indemnified and held harmless by us to the fullest extent authorized by the Delaware General Corporation Law against all expense, liability and loss (including attorneys' fees, judgments, fines, ERISA excise taxes or penalties and amounts paid in settlement) reasonably incurred or suffered by such.

        Section 145 of the Delaware General Corporation Law permits a corporation to indemnify any director or officer of the corporation against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with any action, suit or proceeding brought by reason of the factpurchase arrangement that such person is or was a director or officer of the corporation, if such person acted in good faith and in a manner that he or she reasonably believed to be in, or not opposed to, the best interests of the believe his or her conduct was unlawful. In a derivative action (i.e., one brought by or on behalf of the corporation), indemnificationwe may be provided only for expenses actually and reasonably incurred by any director or officerenter into in connection with the defenserights offering;

if applicable, a discussion of material U.S. Federal income tax considerations; and

any other terms of the rights, including terms, procedures and limitations relating to the exchange and exercise of the rights.

Exercise of Rights

Each right will entitle the holder to purchase for cash or settlementother consideration such shares of stock or principal amount of securities at the subscription price as shall in each case be set forth in, or be determinable as set forth in, the prospectus supplement relating to the rights offered thereby. Rights may be exercised as set forth in the applicable prospectus supplement beginning on the date specified therein and continuing until the close of business on the expiration date set forth in the prospectus supplement relating to the rights offered thereby. After the close of business on the expiration date, unexercised rights will become void.

Upon receipt of payment and a subscription certificate properly completed and duly executed at the corporate trust office of the subscription agent or any other office indicated in the prospectus supplement, we will, as soon as practicable, forward the securities purchasable upon such exercise. If less than all of the rights represented by such subscription certificate are exercised, a new subscription certificate will be issued for the remaining rights. If we so indicate in the applicable prospectus supplement, holders of the rights may surrender securities as all or part of the exercise price for rights.

We may determine to offer any unsubscribed offered securities directly to stockholders, persons other than stockholders, to or through agents, underwriters or dealers or through a combination of such an actionmethods, including pursuant to standby underwriting, backstop or suitother arrangements, as set forth in the applicable prospectus supplement.

Prior to exercising their rights, holders of rights will not have any of the rights of holders of the securities purchasable upon subscription, including, in the case of rights to purchase common stock or preferred stock, the right to receive dividends, if suchany, or payments upon our liquidation, dissolution or winding up or to exercise any voting rights or, in the case of rights to purchase debt securities, the right to receive principal, premium, if any, or interest payments, on the debt securities purchasable upon exercise or to enforce covenants in the applicable indenture.

LEGAL OWNERSHIP OF SECURITIES

We can issue securities in registered form or in the form of one or more global securities. We describe global securities in greater detail below. We refer to those persons who have securities registered in their own names on the books that we or any applicable trustee or depositary or warrant agent maintain for this purpose as the “holders” of those securities. These persons are the legal holders of the securities. We refer to those persons who, indirectly through others, own beneficial interests in securities that are not registered in their own names, as “indirect holders” of those securities. As we discuss below, indirect holders are not legal holders, and investors in securities issued in book-entry form or in street name will be indirect holders.

Book-Entry Holders

We may issue securities in book-entry form only, as we will specify in the applicable prospectus supplement. This means securities may be represented by one or more global securities registered in the name of a financial institution that holds them as depositary on behalf of other financial institutions that participate in the depositary’s book-entry system. These participating institutions, which are referred to as participants, in turn, hold beneficial interests in the securities on behalf of themselves or their customers.

Only the person acted in good faithwhose name a security is registered is recognized as the holder of that security. Global securities will be registered in the name of the depositary or its participants. Consequently, for global securities, we will recognize only the depositary as the holder of the securities, and we will make all payments on the securities to the depositary. The depositary passes along the payments it receives to its participants, which in turn pass the payments along to their customers who are the beneficial owners. The depositary and its participants do so under agreements they have made with one another or with their customers; they are not obligated to do so under the terms of the securities.

As a result, investors in a mannerglobal security will not own securities directly. Instead, they will own beneficial interests in a global security, through a bank, broker or other financial institution that participates in the depositary’s book-entry system or holds an interest through a participant. As long as the securities are issued in global form, investors will be indirect holders, and not legal holders, of the securities.

Street Name Holders

We may terminate a global security or issue securities that are not issued in global form. In these cases, investors may choose to hold their securities in their own names or in “street name.” Securities held by an investor in street name would be registered in the name of a bank, broker or other financial institution that the investor chooses, and the investor would hold only a beneficial interest in those securities through an account he or she reasonably believedmaintains at that institution.

For securities held in street name, we or any applicable trustee or depositary will recognize only the intermediary banks, brokers and other financial institutions in whose names the securities are registered as the holders of those securities, and we or any such trustee or depositary will make all payments on those securities to them. These institutions pass along the payments they receive to their customers who are the beneficial owners, but only because they agree to do so in their customer agreements or because they are legally required to do so. Investors who hold securities in street name will be in,indirect holders, not legal holders, of those securities.

Legal Holders

Our obligations, as well as the obligations of any applicable trustee or not opposed to, the best interests of the corporation, except that no indemnification shall be provided if such person shall have been adjudged to be liable to the corporation, unless andthird party employed by us or a trustee, run only to the extentlegal holders of the securities. We do not have obligations to investors who hold beneficial interests in global securities, in street name or by any other indirect means. This will be the case whether an investor chooses to be an indirect holder of a security or has no choice because we are issuing the securities only in global form.

For example, once we make a payment or give a notice to the holder, we have no further responsibility for the payment or notice even if that holder is required, under agreements with its participants or customers or by law, to pass it along to the indirect holders but does not do so. Similarly, we may want to obtain the approval of the holders to amend an indenture, to relieve us of the consequences of a default or of our obligation to comply with a particular provision of an indenture, or for other purposes. In such an event, we would seek approval only from the legal holders, and not the indirect holders, of the securities. Whether and how the legal holders contact the indirect holders is up to the legal holders.

Special Considerations for Indirect Holders

If you hold securities through a bank, broker or other financial institution, either in book-entry form because the securities are represented by one or more global securities or in street name, you should check with your own institution to find out:

how it handles securities payments and notices;

whether it imposes fees or charges;

how it would handle a request for the holders’ consent, if ever required;

whether and how you can instruct it to send you securities registered in your own name so you can be a legal holder, if that is permitted in the future;

how it would exercise rights under the securities if there were a default or other event triggering the need for holders to act to protect their interests; and

if the securities are in book-entry form, how the depositary’s rules and procedures will affect these matters.

Global Securities

A global security is a security that represents one or any other number of individual securities held by a depositary. Generally, all securities represented by the same global securities will have the same terms.

Each security issued in book-entry form will be represented by a global security that we issue to, deposit with and register in the name of a financial institution or its nominee that we select. The financial institution that we select for this purpose is called the depositary. Unless we specify otherwise in the applicable prospectus supplement, The Depository Trust Company, New York, New York, known as DTC, will be the depositary for all securities issued in book-entry form.

A global security may not be transferred to or registered in the name of anyone other than the depositary, its nominee or a successor depositary, unless special termination situations arise. We describe those situations below under “—Special Situations When a Global Security Will Be Terminated.” As a result of these arrangements, the depositary, or its nominee, will be the sole registered owner and legal holder of all securities represented by a global security, and investors will be permitted to own only beneficial interests in a global security. Beneficial interests must be held by means of an account with a broker, bank or other financial institution that in turn has an account with the depositary or with another institution that does. Thus, an investor whose security is represented by a global security will not be a legal holder of the security, but only an indirect holder of a beneficial interest in the global security.

If the prospectus supplement for a particular security indicates that the Delaware Chancery Courtsecurity will be issued as a global security, then the security will be represented by a global security at all times unless and until the global security is terminated. If termination occurs, we may issue the securities through another book-entry clearing system or decide that the courtsecurities may no longer be held through any book-entry clearing system.

Special Considerations for Global Securities

As an indirect holder, an investor’s rights relating to a global security will be governed by the account rules of the investor’s financial institution and of the depositary, as well as general laws relating to securities transfers. We do not recognize an indirect holder as a holder of securities and instead deal only with the depositary that holds the global security.

If securities are issued only as global securities, an investor should be aware of the following:

an investor cannot cause the securities to be registered in his or her name, and cannot obtain non-global certificates for his or her interest in the securities, except in the special situations we describe below;

an investor will be an indirect holder and must look to his or her own bank or broker for payments on the securities and protection of his or her legal rights relating to the securities, as we describe above;

an investor may not be able to sell interests in the securities to some insurance companies and to other institutions that are required by law to own their securities in non-book-entry form;

an investor may not be able to pledge his or her interest in the global security in circumstances where certificates representing the securities must be delivered to the lender or other beneficiary of the pledge in order for the pledge to be effective;

the depositary’s policies, which may change from time to time, will govern payments, transfers, exchanges and other matters relating to an investor’s interest in the global security;

we and any applicable trustee have no responsibility for any aspect of the depositary’s actions or for its records of ownership interests in the global security, nor will we or any applicable trustee supervise the depositary in any way;

the depositary may, and we understand that DTC will, require that those who purchase and sell interests in the global security within its book-entry system use immediately available funds, and your broker or bank may require you to do so as well; and

financial institutions that participate in the depositary’s book-entry system, and through which an investor holds its interest in the global security, may also have their own policies affecting payments, notices and other matters relating to the securities.

There may be more than one financial intermediary in the chain of ownership for an investor. We do not monitor and are not responsible for the actions of any of those intermediaries.

Special Situations When a Global Security Will Be Terminated

In a few special situations described below, a global security will terminate and interests in it will be exchanged for physical certificates representing those interests. After that exchange, the choice of whether to hold securities directly or in street name will be up to the investor. Investors must consult their own banks or brokers to find out how to have their interests in securities transferred to their own names, so that they will be direct holders. We have described the rights of holders and street name investors above.

A global security will terminate when the following special situations occur:

if the depositary notifies us that it is unwilling, unable or no longer qualified to continue as depositary for that global security and we do not appoint another institution to act as depositary within 90 days;

if we notify any applicable trustee that we wish to terminate that global security; or

if an event of default has occurred with regard to securities represented by that global security and has not been cured or waived.

The applicable prospectus supplement may also list additional situations for terminating a global security that would apply only to the particular series of securities covered by the prospectus supplement. When a global security terminates, the depositary, and neither we nor any applicable trustee, is responsible for deciding the names of the institutions that will be the initial direct holders.

PLAN OF DISTRIBUTION

We may sell the securities from time to time pursuant to underwritten public offerings, negotiated transactions, block trades or a combination of these methods. We may sell the securities to or through underwriters or dealers, through agents, or directly to one or more purchasers. We may distribute securities from time to time in one or more transactions:

at a fixed price or prices, which may be changed;

at market prices prevailing at the time of sale;

at prices related to such prevailing market prices; or

at negotiated prices.

We may also sell equity securities covered by this registration statement in an “at the market” offering as defined in Rule 415(a)(4) under the Securities Act. Such offering may be made into an existing trading market for such securities in transactions at other than a fixed price on or through the facilities of the Nasdaq Capital Market or any other securities exchange or quotation or trading service on which such securities may be listed, quoted or traded at the time of sale.

Such at the market offerings, if any, may be conducted by underwriters acting as principal or agent.

A prospectus supplement or supplements (and any related free writing prospectus that we may authorize to be provided to you) will describe the terms of the offering of the securities, including, to the extent applicable:

the name or names of any underwriters, dealers or agents, if any;

the purchase price of the securities and the proceeds we will receive from the sale;

any over-allotment options under which underwriters may purchase additional securities from us;

any agency fees or underwriting discounts and other items constituting agents’ or underwriters’ compensation;

any public offering price;

any discounts or concessions allowed or reallowed or paid to dealers; and

any securities exchange or market on which the action or suit was brought shall determine that such person is fairly and reasonably entitled to indemnity for such expenses despite such adjudication of liability.securities may be listed.

        Pursuant to Section 102(b)(7)Only underwriters named in the prospectus supplement are underwriters of the Delaware General Corporation Law, Article Ninthsecurities offered by the prospectus supplement.

If underwriters are used in the sale, they will acquire the securities for their own account and may resell the securities from time to time in one or more transactions at a fixed public offering price or at varying prices determined at the time of our restated certificate of incorporation eliminates the liability of a director to us or our stockholders for monetary damages for such a breach of fiduciary duty as a director, except for liabilities arising:


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    under Section 174syndicate. Subject to certain conditions, the underwriters will be obligated to purchase all of the Delaware General Corporation Law;securities offered by the prospectus supplement. Any public offering price and

    any discounts or concessions allowed or reallowed or paid to dealers may change from time to time. We may use underwriters with whom we have a material relationship. We will describe in the prospectus supplement, naming the underwriter, the nature of any transactionsuch relationship.

    We may sell securities directly or through agents we designate from whichtime to time. We will name any agent involved in the director derived an improper personal benefit.

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, our agent will act on a best-efforts basis for the period of its appointment.

We have entered into indemnification agreements with our directorsmay authorize agents or underwriters to solicit offers by certain types of 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 certain officers, in addition to the indemnification provided in our restated certificate of incorporation and our amended and restated bylaws, and intend to enter into indemnification agreements with any new directors and executive officersdelivery on a specified date in the future. We have purchasedwill describe the conditions to these contracts and intendthe commissions we must pay for solicitation of these contracts in the prospectus supplement.

We may provide agents and underwriters with indemnification against civil liabilities related to maintain insurance on behalf of any person who is or was a director or officer against any loss arising from any claim asserted against him or her and incurred by him or her in any such capacity, subject to certain exclusions.

        The foregoing discussion of our restated certificate of incorporation, amended and restated bylaws, indemnification agreements, indemnity agreement, and Delaware law is not intended to be exhaustive and is qualified in its entirety by such restated certificate of incorporation, amended and restated bylaws, indemnification agreements, indemnity agreement, or law.

        Insofar as indemnification forthis offering, including liabilities arising under the Securities Act, or contribution with respect to payments that the agents or underwriters may be permittedmake with respect to our directors, officersthese liabilities. Agents and controlling persons pursuant to the foregoing provisions,underwriters may engage in transactions with, or otherwise, we have been advised thatperform services for, us in the opinionordinary course of business.

All securities we offer, other than common stock, will be new issues of securities with no established trading market. Any underwriters may make a market in these securities, but will not be obligated to do so and may discontinue any market making at any time without notice. We cannot guarantee the liquidity of the SEC such indemnification is against public policytrading markets for any securities.

Any underwriter may engage in overallotment, stabilizing transactions, short covering transactions and penalty bids. Overallotment involves sales in excess of the offering size, which create a short position. Stabilizing transactions permit bids to purchase the underlying security so long as expressedthe stabilizing bids do not exceed a specified maximum. Short covering transactions involve purchases of the securities in the Securities Act andopen market after the distribution is therefore, unenforceable.

LEGAL MATTERS

        Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., Boston, Massachusetts, will pass uponcompleted to cover short positions. Penalty bids permit the validity ofunderwriters to reclaim a selling concession from a dealer when the issuancesecurities originally sold by the dealer are purchased in a stabilizing or covering transaction to cover short positions. Those activities may cause the price of the securities to be higher than it would otherwise be. If commenced, the underwriters may discontinue any of the activities at any time. These transactions may be effected on any exchange or over-the-counter market or otherwise.

Any underwriters who are qualified market makers on the Nasdaq Capital Market may engage in passive market making transactions in the securities on the Nasdaq Capital Market in accordance with Rule 103 of Regulation M, during the business day prior to the pricing of the offering, before the commencement of offers or sales of the securities. Passive market makers must comply with applicable volume and price limitations and must be identified as passive market makers. In general, a passive market maker must display its bid at a price not in excess of the highest independent bid for such security; if all independent bids are lowered below the passive market maker’s bid, however, the passive market maker’s bid must then be lowered when certain purchase limits are exceeded. Passive market making may stabilize the market price of the securities at a level above that which might otherwise prevail in the open market and, if commenced, may be discontinued at any time.

LEGAL MATTERS

Unless otherwise indicated in the applicable prospectus supplement, certain legal matters in connection with the offering and the validity of the securities offered by this prospectus.prospectus, and any supplement thereto, will be passed upon by Sidley Austin LLP, San Francisco, California. Additional legal matters may be passed upon for us or any underwriters, dealers or agents, by counsel that we will name in the applicable prospectus supplement.

EXPERTS

Ernst & Young LLP, independent registered public accounting firm, has audited ourthe consolidated financial statements of Millendo Therapeutics, Inc. included in ourits Annual Report on Form 10-K for the year ended December 31, 2015, and the effectiveness of our internal control over financial reporting as of December 31, 2015,2020, as set forth in their reports,report, which areis incorporated by reference in this prospectus and elsewhere in the registration statement. OurThese financial statements are incorporated by reference in reliance on Ernst & Young LLP'sLLP’s report, given on their authority as experts in accounting and auditing.

The financial statements of Tempestx, Inc. (formerly Tempest Therapeutics, Inc.) as of and for the years end December 31, 2020 and December 31, 2019 , incorporated by reference in this Prospectus from Tempest Therapeutics, Inc.’s Current Report on Form 8-K filed on July 16, 2021, have been audited by Deloitte & Touche LLP, an independent registered public accounting firm, as stated in their report which is incorporated by reference (which report expresses an unqualified opinion on the financial statements and includes an explanatory paragraph referring to substantial doubt regarding Tempestx, Inc.’s ability to continue as a going concern). Such financial statements have been so incorporated in reliance upon the report of such firm given upon their authority as experts in accounting and auditing.

WHERE YOU CAN FIND MORE INFORMATION

This prospectus is part of a registration statement we filed with the SEC. This prospectus does not contain all of the information set forth in the registration statement and the exhibits to the registration statement. For further information with respect to us and the securities we are offering under this prospectus, we refer you to the registration statement and the exhibits and schedules filed as a part of the registration statement. You should rely only on the information contained in this prospectus or incorporated by reference in this prospectus. We have not authorized anyone else to provide you with different information. We are subject tonot making an offer of these securities in any state where the reporting requirementsoffer is not permitted. You should not assume that the information in this prospectus is accurate as of any date other than the date on the front page of this prospectus, regardless of the Securities Exchange Acttime of 1934, as amended, anddelivery of this prospectus or any sale of the securities offered by this prospectus.

We file annual, quarterly and current reports, proxy statements and other information with the SEC. You may read and copy these reports, proxy statements and other information at the SEC's public reference facilities at 100 F Street, N.E., Room 1580, Washington, D.C. 20549. You can request copies of these documents by writing to the SEC and paying a fee for the copying cost. Please call the SEC at 1-800-SEC-0330 for more information about the operation of the public reference facilities.Our SEC filings are also available to the public over the Internet at the SEC's web siteSEC’s website athttp://www.sec.gov. This prospectus is only partwww.sec.gov.

Copies of a registration statement on Form S-3 that we havecertain information filed by us with the SEC under the Securities Act of 1933, as amended, and therefore omits certain informationare also available on our website at www.tempesttx.com. Information contained in the registration statement. We have also filed exhibits and schedules with the registration statement that are excluded fromor accessible through our website does not constitute a part of this prospectus and you should refer to the applicable exhibit or schedule for a complete description of any statement referring to any contract or other document. You may inspect a copy of the registration statement, including the exhibits and schedules, without charge, at the public reference room or obtain a copy from the SEC upon payment of the fees prescribed by the SEC.

        We also maintain a website atwww.ovascience.com, through which you can access our SEC filings. The information set forth on our website is not part ofincorporated by reference in this prospectus.


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INCORPORATION OF DOCUMENTSCERTAIN INFORMATION BY REFERENCE

The SEC allows us to "incorporate“incorporate by reference"reference” information into this prospectus, which means that we file with them. Incorporation by reference allows us tocan disclose important information to you by referring you to those other documents. The information incorporated by reference is an important part of this prospectus, and information that we file lateranother document filed separately with the SEC. The SEC will automatically update and supersede this information. We filed a registration statement on Form S-3 under the Securities Act of 1933, as amended, with the SEC with respect to the securities we may offer pursuant to this prospectus. This prospectus omits certain information contained in the registration statement, as permitted by the SEC. You should refer to the registration statement, including the exhibits,file number for further information about us and the securities we may offer pursuant to this prospectus. Statements in this prospectus regarding the provisions of certain documents filed with, or incorporated by reference in, the registration statement are not necessarily complete and each statement is qualified in all respects by that reference. Copies of all or any part of the registration statement, including the documents incorporated by reference or the exhibits, may be obtained upon payment of the prescribed rates at the offices of the SEC listed above in "Where You Can Find More Information."this prospectus is 001-35890. The documents we are incorporatingincorporated by reference are:into this prospectus contain important information that you should read about us.

        The SEC file number for each of the documents listed above is 001-35890.

        In addition, all reports and other documents filed by us pursuant to the Exchange Act(i) after the date of the initial filing of the registration statement of which this prospectus forms a part and prior to effectiveness of the registration statement, shall be deemedor (ii) after the date of this prospectus but prior to bethe termination of the offering. These documents include periodic reports, such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as well as proxy statements.

We will provide to each person, including any beneficial owner, to whom a prospectus is delivered, without charge upon written or oral request, a copy of any or all of the documents that are incorporated by reference into this prospectus.prospectus but not delivered with the prospectus, including exhibits that are specifically incorporated by reference into such documents. You should direct any requests for documents to Tempest Therapeutics, Inc., Attn: Investor Relations, 7000 Shoreline Court; Suite 275 South San Francisco, CA 94080.

Any statement contained in this prospectus or contained in a document incorporated or deemed to be incorporated by reference into this prospectus will be deemed to be modified or superseded for purposes of this prospectus to the extent that a statement contained in this prospectus or any other subsequently filed supplement to this prospectus, or document that is deemed to be incorporated by reference into this prospectus, modifies or supersedes thesuch statement. Any statement so modified or superseded will not be deemed, except as so modified or superseded, to constitute a part of this prospectus.


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 You may request, orally or in writing, a copy of any or all of the documents incorporated herein by reference. These documents will be provided to you at no cost, by contacting:

OvaScience, Inc.
9 Fourth Avenue
Waltham, Massachusetts
Attention: Investor Relations
Telephone: (617) 500-2802

        You may also access these documents on our website,http://www.ovascience.com. The information contained on, or that can be accessed through, our website is not a part of this prospectus. We have included our website address in this prospectus solely as an inactive textual reference.

 You should rely only on information contained in, or incorporated by reference into, this prospectus and any prospectus supplement. We have not authorized anyone to provide you with information different from that contained in this prospectus or incorporated by reference in this prospectus. We are not making offers to sell the securities in any jurisdiction in which such an offer or solicitation is not authorized or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.


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OVASCIENCE, INC.

$175,000,000

Common Stock
Preferred Stock
Debt Securities
Warrants
Rights Purchase
Contract Units



PROSPECTUS



                        , 2016

 


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THE INFORMATION IN THIS PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. WE MAY NOT SELL THESE SECURITIES UNTIL THE REGISTRATION STATEMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IS EFFECTIVE. THIS PROSPECTUS IS NOT AN OFFER TO SELL THESE SECURITIES AND IS NOT SOLICITING AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE THE OFFER OR SALE IS NOT PERMITTED.

SUBJECT TO COMPLETION, DATED NOVEMBER 3, 2016

PROSPECTUS

$50,000,000

OvaScience, Inc.

Common Stock

Preferred Stock

Debt Securities

Warrants

Units

Rights to Purchase Common Stock, Preferred Stock,

Debt Securities or Units

$250,000,000

 We have entered into a Sales Agreement, or sales agreement, with Cowen and Company, LLC, or Cowen, relating to the sale of shares of our common stock offered by this prospectus. In accordance with the terms of the sales agreement, we may offer and sell shares of our common stock, $0.001 par value per share, having an aggregate offering price of up to $50,000,000 from time to time through Cowen, acting as our agent.

PROSPECTUS

 Sales of our common stock, if any, under this prospectus will be made by any method permitted that is deemed an "at the market offering" as defined in Rule 415 under the Securities Act of 1933, as amended, or the Securities Act, including sales made directly on or through The NASDAQ Global Market, the existing trading market for our common stock, sales made to or through a market maker other than on an exchange or otherwise, in negotiated transactions at market prices, and/or any other method permitted by law. Cowen is not required to sell any specific amount, but will act as our sales agent using commercially reasonable efforts consistent with its normal trading and sales practices. There is no arrangement for funds to be received in any escrow, trust or similar arrangement.

 Cowen will be entitled to compensation at a commission rate of up to 3.0% of the gross sales price per share sold under the sales agreement. See "Plan of Distribution" beginning on page SA-13 for additional information regarding the compensation to be paid to Cowen. In connection with the sale of the common stock on our behalf, Cowen may be deemed to be an "underwriter" within the meaning of the Securities Act and the compensation of Cowen may be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution to Cowen with respect to certain liabilities, including liabilities under the Securities Act.

 Our common stock is listed on The NASDAQ Global Market under the symbol "OVAS." On November 2, 2016, the last reported sale price of our common stock was $5.00 per share.



Investing in our securities involves a high degree of risk. Before deciding whether to invest in our securities, you should consider carefully the risks that we have described on page SA-4 of this prospectus under the caption "Risk Factors" and in the documents incorporated by reference in this prospectus.

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.



Cowen and Company

 

The date of this prospectus is                        , 2016


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ABOUT THIS PROSPECTUS

        This prospectus is part of a registration statement that we filed with the Securities and Exchange Commission, or SEC, utilizing a "shelf" registration process. Under this shelf registration process, we may from time to time sell shares of our common stock having an aggregate offering price of up to $50,000,000 under this prospectus at prices and on terms to be determined by market conditions at the time of the offering.

        Before buying any of the common stock that we are offering, we urge you to carefully read this prospectus and all of the information incorporated by reference herein and therein, as well as the additional information described under the headings "Where You Can Find More Information" and "Incorporation of Documents by Reference." These documents contain important information that you should consider when making your investment decision.

        To the extent there is a conflict between the information contained in this prospectus, on the one hand, and the information contained in any document incorporated by reference in this prospectus, on the other hand, you should rely on the information in this prospectus. If any statement in one of these documents is inconsistent with a statement in another document having a later date—for example, a document incorporated by reference in this prospectus—the statement in the document having the later date modifies or supersedes the earlier statement.

        You should rely only on the information contained in or incorporated by reference in this prospectus and any related free writing prospectus filed by us with the SEC. We have not, and Cowen has not, authorized anyone to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely on it. This prospectus does not constitute an offer to sell or the solicitation of an offer to buy any securities other than the securities described in this prospectus or an offer to sell or the solicitation of an offer to buy such securities in any circumstances in which such offer or solicitation is unlawful. You should assume that the information appearing in this prospectus, the documents incorporated by reference and any related free writing prospectus is accurate only as of their respective dates. Our business, financial condition, results of operations and prospects may have changed materially since those dates.

        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.

        Unless the context otherwise requires, "OvaScience," "OVAS," "the Company," "we," "us," "our" and similar terms refer to OvaScience, Inc. and our subsidiaries.

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PROSPECTUS SUMMARY

The following is a summary of what we believe to be the most important aspects of our business and the offering of our securities under this prospectus. We urge you to read this entire prospectus, including the more detailed consolidated financial statements, notes to the consolidated financial statements and other information incorporated by reference from our other filings with the SEC. Investing in our securities involves risks. Therefore, carefully consider the risk factors set forth in our most recent annual and quarterly filings with the SEC, as well as other information in this prospectus and the documents incorporated by reference herein or therein, before purchasing our securities. Each of the risk factors could adversely affect our business, operating results and financial condition, as well as adversely affect the value of an investment in our securities.

About OvaScience, Inc.

        OvaScience is a global fertility company focused on the discovery, development, and commercialization of new fertility treatment options for women. The current standard of treatment for infertility is in vitro fertilization, or IVF. IVF, however, fails approximately 70% of the time. The discovery of egg precursor, or EggPCSM, cells countered a long-held medical belief that women are born with a set number of eggs, and this discovery enabled our new fertility treatment options. Our patented technology is based on these EggPC cells, which are immature egg cells found in the protective outer lining of a woman's ovaries. We believe that these immature egg cells have the ability to grow into young, fertilizable eggs.

        Our portfolio of fertility treatment options uses our patented technology including proprietary methods to identify and isolate EggPC cells from a patient's own ovarian tissue. By applying our EggPC technology platform in unique ways, we have commercialized one fertility treatment and are developing new fertility treatment options that are designed to improve egg health and revolutionize IVF.

Additional Information

        For additional information related to our business and operations, please refer to the reports incorporated herein by reference, including our Annual Report on Form 10-K for the year ended December 31, 2015, as described under the caption "Incorporation of Documents by Reference" on page SA-14 of this prospectus.

Company History and Our Corporate Information

        We were originally incorporated in the State of Delaware in April 2011 under the name "Ovastem, Inc." As used herein, the words "OvaScience," "OVAS," the "Company," "we," "us," and "our" refer to OvaScience, Inc. and, where appropriate, our consolidated subsidiaries.

        Our corporate headquarters are located at 9 Fourth Avenue, Waltham, Massachusetts 02451 and our telephone number is (617) 500-2802. We maintain a website atwww.ovascience.com, to which we regularly post copies of our press releases as well as additional information about us. The information contained on, or that can be accessed through, our website is not a part of this prospectus. We have included our website address in this prospectus solely as an inactive textual reference.

        All brand names or trademarks appearing in this prospectus are the property of their respective holders. Use or display by us of other parties' trademarks, trade dress, or products in this prospectus is not intended to, and does not, imply a relationship with, or endorsements or sponsorship of, us by the trademark or trade dress owners.

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THE OFFERING

Common stock offered by usShares of our common stock having an aggregate offering price of up to $50,000,000.

Manner of offering


"At the market" offering that may be made from time to time through our sales agent, Cowen and Company, LLC. See "Plan of Distribution" on page SA-13 of this prospectus.

Use of proceeds


We currently intend to use the net proceeds from this offering to fund activities relating to the development and commercialization of our fertility treatments, and for other general corporate purposes, including, but not limited to, working capital, capital expenditures, investments, acquisitions, should we choose to pursue any, and collaborations. See the section entitled "Use of Proceeds" on page SA-7 of this prospectus.

Risk factors


See "Risk Factors" beginning on page SA-4 of this prospectus and the other information included in, or incorporated by reference into, this prospectus for a discussion of certain factors you should carefully consider before deciding to invest in shares of our common stock.

NASDAQ Global Market symbol


"OVAS"

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RISK FACTORS

An investment in our common stock involves a high degree of risk. Before deciding whether to invest in our common stock, you should consider carefully the risks described below and discussed under the sections captioned "Risk Factors" contained in our most recent Annual Report on Form 10-K, as well as in any of our subsequent Quarterly Reports on Form 10-Q and Exhibit 99.3 to our Current Report on Form 8-K filed on May 25, 2016, which are incorporated by reference herein in their entirety, together with other information in this prospectus, the information and documents incorporated by reference in this prospectus, and in any free writing prospectus that we have authorized for use in connection with this offering. If any of these risks actually occurs, our business, financial condition, results of operations or cash flow 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.

Our business, financial condition or results of operations could be materially adversely affected by any of these risks. The trading price of our securities could decline due to any of these risks, and you may lose part or all of your investment. This prospectus and the incorporated documents also contain forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the risks mentioned below. Forward-looking statements included in this prospectus are based on information available to us on the date hereof, and all forward-looking statements in documents incorporated by reference are based on information available to us as of the date of such documents. We disclaim any intent to update any forward-looking statements.

Risks Related to This Offering

Our management will have broad discretion over the use of the net proceeds from this offering, and you may not agree with how we use the proceeds and the proceeds may not be invested successfully.

        Our management will have broad discretion as to the use of the net proceeds from this offering and could use them for purposes other than those contemplated at the time of this offering. Accordingly, you are relying on the judgment of our management with regard to the use of these net proceeds, and you will not have the opportunity, as part of your investment decision, to assess whether the proceeds will be used appropriately. It is possible that the proceeds will be invested in a way that does not yield a favorable, or any, return for OvaScience.

Purchasers will experience immediate dilution in the book value per share of the common stock purchased in the offering.

        The shares sold in this offering, if any, will be sold from time to time at various prices. However, we expect that the offering price of our common stock will be substantially higher than the net tangible book value per share of our outstanding common stock. After giving effect to the sale of shares of our common stock in the aggregate amount of $50,000,000 at an assumed offering price of $5.00 per share, the last reported sale price of our common stock on November 2, 2016 on The NASDAQ Global Market, and after deducting commissions and estimated offering expenses, our as adjusted net tangible book value as of September 30, 2016 would have been approximately $178.2 million or approximately $3.91 per share. This represents an immediate increase in net tangible book value of approximately $0.26 per share to our existing stockholders and an immediate dilution in as adjusted net tangible book value of approximately $1.09 per share to purchasers of our common stock in this offering.

        In addition to this offering, subject to market conditions and other factors, we may pursue additional equity financings in the future, including future public offerings or future private placements of equity securities or securities convertible into or exchangeable for equity securities. Further, the exercise of outstanding options could result in further dilution to investors and any additional shares issued in connection with acquisitions, should we choose to pursue any, will result in dilution to

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investors. In addition, the market price of our common stock could fall as a result of resales of any of these shares of common stock due to an increased number of shares available for sale in the market.

You may experience future dilution as a result of future equity offerings.

        In order 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 in this offering, 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 than the price per share in this offering.


SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

        This prospectus and the documents incorporated by reference in this prospectus include forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act that relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Words such as, but not limited to, "believe," "expect," "anticipate," "estimate," "intend," "may," "plan," "potential," "predict," "project," "targets," "likely," "will," "would," "could," "should," "continue," and similar expressions or phrases, or the negative of those expressions or phrases, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Although we believe that we have a reasonable basis for each forward-looking statement contained in this prospectus and incorporated by reference in this prospectus, we caution you that these statements are based on our projections of the future that are subject to known and unknown risks and uncertainties and other factors that may cause our actual results, level of activity, performance or achievements expressed or implied by these forward-looking statements, to differ. The sections in our periodic reports, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2015, entitled "Business," "Risk Factors," and "Management's Discussion and Analysis of Financial Condition and Results of Operations," as well as other sections in this prospectus and the documents or reports incorporated by reference in this prospectus, discuss some of the factors that could contribute to these differences. These forward-looking statements include, among other things, statements about:

    the possibility that the IVF clinics that we work with may determine not to provide or continue providing the AUGMENT treatment or to delay such treatment, or to limit the population of patients receiving the treatment, based on clinical efficacy, safety or commercial, logistic, regulatory or other reasons;

    our expectations relating to the on-boarding and qualification time period between execution of commercial agreements with clinics and when clinics begin offering the treatment commercially;

    our expectation that the AUGMENT treatment and OvaPrime treatment are exempt from premarket review and approval applicable to drugs, biologics, medicinal products and medical devices under applicable regulations in those countries where we have introduced or plan to introduce the AUGMENT treatment or the OvaPrime treatment;

    our ability to obtain regulatory approval or licenses where necessary for our fertility treatments and our ability comply with applicable national standards set by regulatory authorities and/or non-governmental bodies that govern IVF procedures and medicinal treatments;

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    our plans to develop further clinical evidence for the AUGMENT treatment and the OvaPrime treatment;

    our anticipated timing of announcing results from studies or trials;

    the commercial ramp up of the AUGMENT treatment, successful introduction of the OvaPrime treatment through a non-commercial preceptorship training program outside of the United States;

    the science underlying our treatment and treatments in development (including the AUGMENT, OvaPrime and OvaTure treatments), which is unproven;

    our ability to obtain regulatory approval or licenses where necessary for our potential treatments;

    the size and growth of the market for our fertility treatments and our ability to serve those markets;

    our ability to develop our potential treatments, including the OvaPrime and OvaTure treatments, on the timelines we expect, if at all;

    our ability to commercialize the AUGMENT treatment and our potential treatments, including the OvaPrime treatment, on the timelines we expect, if at all;

    the rate and degree of market acceptance of any future fertility treatments that we develop;

    our ability to adjust our operations to expand our commercial capabilities, manage our organizational changes and comply with applicable securities laws and regulations;

    our ability to obtain additional financing;

    the accuracy of our estimates regarding expenses, future revenues, capital requirements and the need for additional financing; and

    our ability to attract and retain key scientific or management personnel.

We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. We have included important cautionary statements in this prospectus or in the documents incorporated by reference in this prospectus, particularly in the "Risk Factors" section, that we believe could cause actual results or events to differ materially from the forward-looking statements that we make. For a summary of such factors, please refer to the section entitled "Risk Factors" in this prospectus, as updated and supplemented by the discussion of risks and uncertainties under "Risk Factors" contained in any supplements to this prospectus and in our most recent annual report on Form 10-K, as revised or supplemented by our subsequent quarterly reports on Form 10-Q or our current reports on Form 8-K, as well as any amendments thereto, as filed with the SEC and which are incorporated herein by reference. The information contained in this document is believed to be current as of the date of this document. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

        In light of these assumptions, risks and uncertainties, the results and events discussed in the forward-looking statements contained in this prospectus or in any document incorporated herein by reference might not occur. Investors are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this prospectus or the date of the document incorporated by reference in this prospectus. We are not under any obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. All subsequent forward-looking statements attributable to us or to any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section.

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USE OF PROCEEDS

        We may issue and sell shares of our common stock having aggregate sale proceeds of up to $50,000,000 from time to time. Because there is no minimum offering amount required to be sold in connection with this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time. We intend to use any net proceeds from the sale of securities under this prospectus to fund activities relating to the development and commercialization of our fertility treatments, and for other general corporate purposes, including, but not limited to, working capital, capital expenditures, investments, acquisitions, should we choose to pursue any, and collaborations. The amounts and timing of our actual expenditures will depend on numerous factors, including the progress of our clinical trials and other development efforts and other factors described under "Risk Factors" in this prospectus and the documents incorporated by reference herein, as well as the amount of cash used in our operations. As a result, our management will have broad discretion to allocate the net proceeds, if any, we receive in connection with securities offered pursuant to this prospectus for any purpose.


DIVIDEND POLICY

        We have never paid cash dividends on any of our capital stock and we currently intend to retain our future earnings, if any, to fund the development and growth of our business. We do not intend to pay cash dividends to holders of our common stock in the foreseeable future.

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DILUTION

        If you invest in our common stock, your interest will be diluted to the extent of the difference between the price per share of our common stock you pay in this offering and the as adjusted net tangible book value per share of our common stock immediately after this offering.

        As of September 30, 2016, our historical net tangible book value was $129.9 million, or $3.65 per share of common stock. Historical net tangible book value per share represents the amount of our total tangible assets less total liabilities, divided by 35,607,059, the number of shares of common stock outstanding as of September 30, 2016.

        After giving effect to the sale of our common stock in the aggregate amount of $50,000,000 at an assumed offering price of $5.00 per share, the last reported sale price of our common stock on The NASDAQ Global Market on November 2, 2016, and after deducting commissions and estimated offering expenses payable by us, our as adjusted net tangible book value as of September 30, 2016 would have been $178.2 million, or $3.91 per share of common stock. This amount represents an immediate increase in net tangible book value of $0.26 per share to our existing stockholders and an immediate dilution in net tangible book value of approximately $1.09 per share to new investors in this offering.

        The following table illustrates this calculation on a per share basis. The as adjusted information is illustrative only and will adjust based on the actual price to the public, the actual number of shares sold and other terms of the offering determined at the time shares of our common stock are sold pursuant to this prospectus. The shares sold in this offering, if any, will be sold from time to time at various prices.

Assumed offering price per share

    $5.00 

Historical net tangible book value per share as of September 30, 2016

 $3.65    

Increase in net tangible book value per share attributable to this offering

  0.26    

As adjusted net tangible book value per share after giving effect to this offering

     3.91 

Dilution per share to new investors participating in this offering

    $1.09 

        The number of shares of our common stock to be outstanding immediately after this offering is based on 35,607,059 shares of our common stock outstanding as of September 30, 2016. The number of shares outstanding as of September 30, 2016 excludes:

    5,429,459 shares of common stock issuable upon exercise of outstanding options as of September 30, 2016, at a weighted average exercise price of $14.90 per share, of which 2,215,766 shares were vested as of such date; and

    619,023 shares of common stock reserved for future issuance under the 2012 Stock Incentive Plan.

        To the extent that outstanding options are exercised, you will experience further dilution. In addition, we may choose to raise additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or future operating plans. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the issuance of these securities may result in further dilution to our stockholders.

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DESCRIPTION OF CAPITAL STOCK

        We are authorized to issue 100,000,000 shares of common stock, par value $0.001 per share, and 5,000,000 shares of preferred stock, par value $0.001 per share. As of November 1, 2016, we had 35,608,386 shares of common stock outstanding and approximately 83 stockholders of record.

        The following summary of certain provisions of our capital stock does not purport to be complete. You should refer to the section of this prospectus entitled "Certain Provisions of Delaware Law and of the Company's Restated Certificate of Incorporation and Bylaws" and our restated certificate of incorporation and our amended and restated bylaws, both of which are included as exhibits to the registration statement of which this prospectus is a part. The summary below is also qualified by provisions of applicable law.

Common Stock

General

        Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders and do not have cumulative voting rights. An election of directors by our stockholders shall be determined by a plurality of the votes cast by the stockholders entitled to vote on the election. Holders of common stock are entitled to receive proportionately any dividends as may be declared by our board of directors, subject to any preferential dividend rights of any series of preferred stock that we may designate and issue in the future. All shares of common stock outstanding as of the date of this prospectus and, upon issuance and sale, all shares of common stock that we may offer pursuant to this prospectus, will be fully paid and nonassessable.

        In the event of our liquidation or dissolution, the holders of common stock are entitled to receive proportionately our net assets available for distribution to stockholders after the payment of all debts and other liabilities and subject to the prior rights of any outstanding preferred stock. Holders of common stock have no preemptive, subscription, redemption or conversion rights. There are no redemption or sinking fund provisions applicable to the common stock. Our outstanding shares of common stock are validly issued, fully paid and nonassessable. The rights, preferences and privileges of holders of common stock are subject to and may be adversely affected by the rights of the holders of shares of any series of preferred stock that we may designate and issue in the future.

Transfer Agent and Registrar

        The transfer agent and registrar for our common stock is Computershare Trust Company, N.A., with offices at 250 Royall Street, Canton, Massachusetts 02021.

Stock Exchange Listing

        Our common stock is listed on The NASDAQ Global Market under the symbol "OVAS."

Preferred Stock

        Our board of directors may, without further action by our stockholders, from time to time, direct the issuance of shares of preferred stock in series and may, at the time of issuance, determine the rights, preferences and limitations of each series, including voting rights, dividend rights and redemption and liquidation preferences. Satisfaction of any dividend preferences of outstanding shares of preferred stock would reduce the amount of funds available for the payment of dividends on shares of our common stock. Holders of shares of preferred stock may be entitled to receive a preference payment in the event of any liquidation, dissolution or winding-up of our company before any payment is made to the holders of shares of our common stock. In some circumstances, the issuance of shares of preferred stock may render more difficult or tend to discourage a merger, tender offer or proxy contest, the assumption of control by a holder of a large block of our securities or the removal of incumbent management. Upon the affirmative vote of our board of directors, without stockholder approval, we may issue shares of preferred stock with voting and conversion rights which could adversely affect the holders of shares of our common stock.

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CERTAIN PROVISIONS OF DELAWARE LAW AND OF THE COMPANY'S CERTIFICATE OF INCORPORATION AND BYLAWS

Anti-Takeover Provisions

Delaware Law

        We are subject to Section 203 of the Delaware General Corporation Law. Subject to certain exceptions, Section 203 prevents a publicly held Delaware corporation from engaging in a "business combination" with any "interested stockholder" for three years following the date that the person became an interested stockholder, unless the interested stockholder attained such status with the approval of our board of directors or unless the business combination is approved in a prescribed manner. A "business combination" includes, among other things, a merger or consolidation involving us and the "interested stockholder" and the sale of more than 10% of our assets. In general, an "interested stockholder" is any entity or person beneficially owning 15% or more of our outstanding voting stock and any entity or person affiliated with or controlling or controlled by such entity or person.

Staggered Board

        Our restated certificate of incorporation and by-laws divide our board of directors into three classes with staggered three year terms. In addition, our restated certificate of incorporation and by-laws provide that directors may be removed only for cause and only by the affirmative vote of the holders of 75% of our shares of capital stock present in person or by proxy and entitled to vote. Under our restated certificate of incorporation and by-laws, any vacancy on our board of directors, including a vacancy resulting from an enlargement of our board of directors, may be filled only by vote of a majority of our directors then in office. Furthermore, our restated certificate of incorporation provides that the authorized number of directors may be changed only by the resolution of our board of directors, subject to the rights of any holders of preferred stock to elect directors. The classification of our board of directors and the limitations on the ability of our stockholders to remove directors, change the authorized number of directors and fill vacancies could make it more difficult for a third party to acquire, or discourage a third party from seeking to acquire, control of our company.

Authorized but Unissued Shares

        The authorized but unissued shares of common stock and preferred stock are available for future issuance without stockholder approval, subject to any limitations imposed by the listing standards of any exchange on which our shares are listed. These additional shares may be used for a variety of corporate finance transactions, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved common stock and preferred stock could make more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.

Special Meeting of Stockholders; Advance Notice Requirements for Stockholder Proposals and Director Nominations; Stockholder Action

        Our restated certificate of incorporation and by-laws provide that, except as otherwise required by law, special meetings of the stockholders can only be called by our chairman of the board, our chief executive officer or our board of directors. In addition, our by-laws establish an advance notice procedure for stockholder proposals to be brought before an annual meeting of stockholders, including proposed nominations of candidates for election to our board of directors. Stockholders at an annual meeting may only consider proposals or nominations specified in the notice of the meeting or brought before the meeting by or at the direction of our board of directors, or by a stockholder of record on the record date for the meeting who is entitled to vote at the meeting and who has delivered timely written notice in proper form to our secretary of the stockholder's intention to bring such business

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before the meeting. These provisions could have the effect of delaying until the next stockholder meeting stockholder actions that are favored by the holders of a majority of our outstanding voting securities. In addition, our restated certificate of incorporation and by-laws require that stockholder actions must be effected at a duly called stockholders meeting and prohibit actions by our stockholders by written consent.

    Super Majority Voting

        The General Corporation Law of the State of Delaware provides generally that the affirmative vote of a majority of the shares entitled to vote on any matter is required to amend a corporation's certificate of incorporation or by-laws, unless a corporation's certificate of incorporation or by-laws, as the case may be, require a greater percentage. Our by-laws may be amended or repealed by a majority vote of our board of directors or the affirmative vote of the holders of at least 75% of the votes that all our stockholders would be entitled to cast in any election of directors. In addition, the affirmative vote of the holders of at least 75% of the votes that all our stockholders would be entitled to cast in any election of directors is required to amend or repeal or to adopt any provisions inconsistent with certain of the provisions of our restated certificate of incorporation.

    Limitation of Liability and Indemnification

        Our restated certificate of incorporation and our amended and restated bylaws provide that each person who was or is made a party or is threatened to be made a party to or is otherwise involved (including, without limitation, as a witness) in any action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that he or she is or was one of our directors or officers or is or was serving at our request as a director, officer, or trustee of another corporation, or of a partnership, joint venture, trust or other enterprise, including service with respect to an employee benefit plan, whether the basis of such proceeding is alleged action in an official capacity as a director, officer or trustee or in any other capacity while serving as a director, officer or trustee, shall be indemnified and held harmless by us to the fullest extent authorized by the Delaware General Corporation Law against all expense, liability and loss (including attorneys' fees, judgments, fines, ERISA excise taxes or penalties and amounts paid in settlement) reasonably incurred or suffered by such.

        Section 145 of the Delaware General Corporation Law permits a corporation to indemnify any director or officer of the corporation against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with any action, suit or proceeding brought by reason of the fact that such person is or was a director or officer of the corporation, if such person acted in good faith and in a manner that he or she reasonably believed to be in, or not opposed to, the best interests of the corporation, and, with respect to any criminal action or proceeding, if he or she had no reasonable cause to believe his or her conduct was unlawful. In a derivative action (i.e., one brought by or on behalf of the corporation), indemnification may be provided only for expenses actually and reasonably incurred by any director or officer in connection with the defense or settlement of such an action or suit if such person acted in good faith and in a manner that he or she reasonably believed to be in, or not opposed to, the best interests of the corporation, except that no indemnification shall be provided if such person shall have been adjudged to be liable to the corporation, unless and only to the extent that the Delaware Chancery Court or the court in which the action or suit was brought shall determine that such person is fairly and reasonably entitled to indemnity for such expenses despite such adjudication of liability.

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        Pursuant to Section 102(b)(7) of the Delaware General Corporation Law, Article Ninth of our restated certificate of incorporation eliminates the liability of a director to us or our stockholders for monetary damages for such a breach of fiduciary duty as a director, except for liabilities arising:

    from any breach of the director's duty of loyalty to us or our stockholders;

    from acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law;

    under Section 174 of the Delaware General Corporation Law; and

    from any transaction from which the director derived an improper personal benefit.

        We have entered into indemnification agreements with our directors and certain officers, in addition to the indemnification provided in our restated certificate of incorporation and our amended and restated bylaws, and intend to enter into indemnification agreements with any new directors and executive officers in the future. We have purchased and intend to maintain insurance on behalf of any person who is or was a director or officer against any loss arising from any claim asserted against him or her and incurred by him or her in any such capacity, subject to certain exclusions.

        The foregoing discussion of our restated certificate of incorporation, amended and restated bylaws, indemnification agreements, indemnity agreement, and Delaware law is not intended to be exhaustive and is qualified in its entirety by such restated certificate of incorporation, amended and restated bylaws, indemnification agreements, indemnity agreement, or law.

        Insofar as indemnification for liabilities arising under the Securities Act may be permitted to our directors, officers and controlling persons pursuant to the foregoing provisions, or otherwise, we have been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.

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PLAN OF DISTRIBUTION

        We have entered into a sales agreement with Cowen under which we may issue and sell shares of our common stock of up to $50,000,000 from time to time through Cowen acting as sales agent, subject to certain limitations, including the number of shares registered under the registration statement to which the offering relates. The sales, if any, of shares made under the sales agreement will be made by any method that is deemed an "at the market" offering as defined in Rule 415 under the Securities Act, including sales made directly on or through The NASDAQ Global Market, the existing trading market for our common stock, sales made to or through a market maker other than on an exchange or otherwise, in negotiated transactions at market prices, and/or any other method permitted by law. We may instruct Cowen not to sell common stock if the sales cannot be effected at or above the price designated by us from time to time. We or Cowen may suspend the offering of common stock upon notice and subject to other conditions.

        Each time we wish to issue and sell common stock under the sales agreement, we will notify Cowen of the number of shares to be sold, the dates on which such sales are anticipated to be made, any minimum price below which sales may not be made and other sales parameters as we deem appropriate. Once we have so instructed Cowen, unless Cowen declines to accept the terms of the notice, Cowen has agreed to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such shares up to the amount specified on such terms. The obligations of Cowen under the sales agreement to sell our common stock are subject to a number of conditions that we must meet.

        We will pay Cowen commissions for its services in acting as sales agent in the sale of shares of common stock. Cowen will be paid a commission in an amount of up to 3.0% of the gross sales price per share sold. Because there is no minimum offering amount required as a condition to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinate at this time. In addition, we have agreed to reimburse Cowen for fees and disbursements related to its legal counsel in an amount not to exceed $50,000, and for certain other expenses. We estimate that total expenses for the offering, excluding compensation paid to Cowen under the terms of the sales agreement, will be approximately $200,000.

        Settlement for sales of common stock will generally occur on the third trading day following the date on which any sales are made, or on some other date that is agreed upon by us and Cowen in connection with a particular transaction, in return for payment of the net proceeds to us. Sales of shares of our common stock as contemplated in this prospectus will be settled through the facilities of The Depository Trust Company or by such other means as we and Cowen may agree upon. There is no arrangement for funds to be received in an escrow, trust or similar arrangement.

        In connection with the sale of the common stock on our behalf, Cowen may, and will with respect to sales effected in an "at the market" offering, be deemed to be an "underwriter" within the meaning of the Securities Act and the compensation of Cowen may be deemed to be underwriting commissions or discounts. We have agreed to provide indemnification and contribution to Cowen against certain civil liabilities, including liabilities under the Securities Act.

        The offering of our common stock pursuant to the sales agreement will terminate upon the earlier of (i) the sale of all of our common stock provided for in this prospectus or (ii) termination of the sales agreement as provided therein.

        This summary of the material provisions of the sales agreement does not purport to be a complete statement of its terms and conditions. A copy of the sales agreement is filed as an exhibit to the registration statement of which this prospectus is a part.

        To the extent required by Regulation M, Cowen will not engage in any market making activities involving our common stock while the offering is ongoing under this prospectus.

        Cowen and its affiliates may in the future provide various investment banking and other financial services for us and our affiliates, for which services they may in the future receive customary fees.

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LEGAL MATTERS

        Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., Boston, Massachusetts, will pass upon the validity of the issuance of the securities to be offered by this prospectus. Cowen and Company, LLC is being represented by Goodwin Procter, LLP, New York, New York in connection with this offering.


EXPERTS

        Ernst & Young LLP, independent registered public accounting firm, has audited our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2015, and the effectiveness of our internal control over financial reporting as of December 31, 2015, as set forth in their reports, which are incorporated by reference in this prospectus and the registration statement. Our financial statements are incorporated by reference in reliance on Ernst & Young LLP's report, given on their authority as experts in accounting and auditing.


WHERE YOU CAN FIND MORE INFORMATION

        We are subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, and file annual, quarterly and current reports, proxy statements and other information with the SEC. You may read and copy these reports, proxy statements and other information at the SEC's public reference facilities at 100 F Street, N.E., Room 1580, Washington, D.C. 20549. You can request copies of these documents by writing to the SEC and paying a fee for the copying cost. Please call the SEC at 1-800-SEC-0330 for more information about the operation of the public reference facilities. SEC filings are also available at the SEC's web site athttp://www.sec.gov.

        This prospectus is only part of a registration statement on Form S-3 that we have filed with the SEC under the Securities Act of 1933, as amended, and therefore omits certain information contained in the registration statement. We have also filed exhibits and schedules with the registration statement that are excluded from this prospectus, and you should refer to the applicable exhibit or schedule for a complete description of any statement referring to any contract or other document. You may inspect a copy of the registration statement, including the exhibits and schedules, without charge, at the public reference room or obtain a copy from the SEC upon payment of the fees prescribed by the SEC.

        We also maintain a website atwww.ovascience.com through which you can access our SEC filings. The information set forth on our website is not part of this prospectus.


INCORPORATION OF DOCUMENTS BY REFERENCE

        The SEC allows us to "incorporate by reference" information that we file with them. Incorporation by reference allows us to disclose important information to you by referring you to those other documents. The information incorporated by reference is an important part of this prospectus, and information that we file later with the SEC will automatically update and supersede this information. We filed a registration statement on Form S-3 under the Securities Act of 1933, as amended, with the SEC with respect to the securities we may offer pursuant to this prospectus. This prospectus omits certain information contained in the registration statement, as permitted by the SEC. You should refer to the registration statement, including the exhibits, for further information about us and the securities we may offer pursuant to this prospectus. Statements in this prospectus regarding the provisions of certain documents filed with, or incorporated by reference in, the registration statement are not necessarily complete and each statement is qualified in all respects by that reference. Copies of all or any part of the registration statement, including the documents incorporated by reference or the

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exhibits, may be obtained upon payment of the prescribed rates at the offices of the SEC listed above in "Where You Can Find More Information." The documents we are incorporating by reference are:

    our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 that we filed with the SEC on February 26, 2016;

    the portions of our definitive proxy statement on Schedule 14A filed on April 18, 2016 that are deemed "filed" with the SEC under the Exchange Act;

    our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2016, June 30, 2016 and September 30, 2016 that we filed with the SEC on May 5, 2016, August 4, 2016 and November 3, 2016, respectively;

    our Current Reports on Form 8-K that we filed with the SEC on January 6, 2016, March 31, 2016, May 25, 2016, May 26, 2016, June 3, 2016, July 1, 2016 and September 6, 2016 (except for the information furnished under Items 2.02 or 7.01 and the exhibits furnished thereto);

    the description of our common stock contained in our Registration Statement on Form 8-A filed on April 25, 2013, including any amendment or report filed for the purpose of updating such description; and

    all reports and other documents subsequently filed by us pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act after the date of this prospectus and prior to the termination or completion of the offering of securities under this prospectus shall be deemed to be incorporated by reference in this prospectus and to be a part hereof from the date of filing such reports and other documents.

        The SEC file number for each of the documents listed above is 001-35890.

        In addition, all reports and other documents filed by us pursuant to the Exchange Act after the date of the initial registration statement and prior to effectiveness of the registration statement shall be deemed to be incorporated by reference into this prospectus.

        Any statement contained in this prospectus or in a document incorporated or deemed to be incorporated by reference into this prospectus will be deemed to be modified or superseded for purposes of this prospectus to the extent that a statement contained in this prospectus or any other subsequently filed document that is deemed to be incorporated by reference into this prospectus modifies or supersedes the statement. Any statement so modified or superseded will not be deemed, except as so modified or superseded, to constitute a part of this prospectus.

        You may request, orally or in writing, a copy of any or all of the documents incorporated herein by reference. These documents will be provided to you at no cost, by contacting:

OvaScience, Inc.
9 Fourth Avenue
Waltham, Massachusetts 02451
Attention: Investor Relations
Telephone: (617) 500-2802

        You may also access these documents on our website,http://www.ovascience.com. The information contained on, or that can be accessed through, our website is not a part of this prospectus. We have included our website address in this prospectus solely as an inactive textual reference.

        You should rely only on information contained in, or incorporated by reference into, this prospectus. We have not authorized anyone to provide you with information different from that contained in this prospectus or incorporated by reference in this prospectus. We are not making offers to sell the securities in any jurisdiction in which such an offer or solicitation is not authorized or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.

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OVASCIENCE, INC.

$50,000,000

Common Stock



PROSPECTUS



Cowen and Company

                        , 2016


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PART II

INFORMATION NOT REQUIRED IN THE PROSPECTUS

Item 14. Other Expenses of Issuance and Distribution

The following table sets forth an itemization of the variousestimated costs and expenses, all of which we will pay,other than underwriting discounts and commissions, payable by us in connection with the issuance and distributionoffering of the securities being registered. All of the amounts shown are estimatedestimates, except for the SEC Registration Fee.

SEC Registration Fee

 $7,511.19 

Printing and Engraving Expenses

   *

Legal Fees and Expenses

   *

Accounting Fees and Expenses

   *

Transfer Agent and Registrar Fees

   *

Miscellaneous

   *

Total

   *

*
Fees depend on number of issuancesregistration fee and amount of securities sold and accordingly cannot be estimated at this time
the FINRA filing fee.

SEC registration fee

  $27,275 

FINRA filing fee (if applicable)

   38,000 

Accounting fees and expenses

   (1

Legal fees and expenses

   (1

Transfer agent fees and expenses

   (1

Trustee fees and expenses

   (1

Printing and miscellaneous expenses

  
  

 

 

 

Total

  $(1
  

 

 

 

(1)

Estimated expenses not presently known.

Item 15. Indemnification of DirectorsOfficers and Officers
Directors

Delaware Law

        Section 102Subsection (a) of the General Corporation Law of the State of Delaware permits a corporation to eliminate the personal liability of directors of a corporation to the corporation or its stockholders for monetary damages for a breach of fiduciary duty as a director, except where the director breached his duty of loyalty, failed to act in good faith, engaged in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved a stock repurchase in violation of Delaware corporate law or obtained an improper personal benefit.

Section 145 of the General Corporation Law of the State of Delaware provides that(the “DGCL”) empowers a corporation hasto indemnify any person who was or is a party or who is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the power to indemnifyright of the corporation) by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or a personis or was serving at the request of the corporation foras a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, in related capacities against expenses including attorneys' fees,(including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with ansuch action, suit or proceeding if the person acted in good faith and in a manner the person reasonably believed to which hebe in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe the person’s conduct was unlawful.

Subsection (b) of Section 145 of the DGCL empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, endingpending or completed action or suit by or proceedingin the right of the corporation to procure a judgment in its favor by reason of the fact that the person acted in any of the capacities set forth above, against expenses (including attorneys’ fees) actually and reasonably incurred by the person in connection with the defense or settlement of such position,action or suit if suchthe person acted in good faith and in a manner hethe person reasonably believed to be in or not opposed to the best interests of the corporation, and, in any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful, except that in the case of actions brought by or in the right of the corporation, no indemnification shall be made within respect toof any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or other adjudicatingthe court determinesin which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all of the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

Restated CertificateSection 145 further provides that to the extent a director or officer of Incorporationa corporation has been successful on the merits or otherwise in the defense of any action, suit or proceeding referred to in subsections (a) and (b) of Section 145, or in defense of any claim, issue or matter therein, such person shall be indemnified against expenses (including attorneys’ fees) actually and reasonably incurred by such person in connection therewith; that indemnification provided for by Section 145 shall not be deemed exclusive of any other rights to which the indemnified party may be entitled; and the indemnification provided for by Section 145 shall, unless otherwise

 Our restated

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provided when authorized or ratified, continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of such person’s heirs, executors and administrators. Section 145 also empowers the corporation to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity, or arising out of his status as such, whether or not the corporation would have the power to indemnify such person against such liabilities under Section 145.

Section 102(b)(7) of the DGCL provides that a corporation’s certificate of incorporation limitsmay contain a provision eliminating or limiting the personal liability of directorsa director to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, provided that such provision shall not eliminate or limit the liability of a director (i) for any breach of the director’s duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the DGCL, or (iv) for any transaction from which the director derived an improper personal benefit.

Tempest’s certificate of incorporation contains provisions that eliminate, to the maximum extent permitted by the Delaware General Corporation Law and provides that no director will haveDGCL, the personal liability to us or to our stockholdersof directors and executive officers for monetary damages

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for breach of their fiduciary duty or other dutyduties as a director. However, these provisions do not eliminatedirector or limitofficer. The certificate of incorporation and bylaws provide that Tempest shall indemnify its directors and officers and may indemnify its employees and other agents to the fullest extent permitted by the DGCL. The DGCL prohibits limiting the liability of any of our directors for:

    for (i) any breach of the director'sa director’s duty of loyalty, to us or our stockholders;

    for(ii) acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law;

    for voting forlaw, (iii) unlawful payment of dividends or assenting to unlawful payments of dividends, stock repurchases or other distributions; or

    forredemptions, and (iv) any transaction from which thea director derived an improper personal benefit.

        In addition, our restatedIf Delaware law is amended to authorize corporate action further eliminating or limiting the personal liability of a director, then the liability of the directors will be eliminated or limited to the fullest extent permitted by Delaware law, as so amended. Tempest’s certificate of incorporation provides that wedoes not eliminate a director’s duty of care and, in appropriate circumstances, equitable remedies, such as injunctive or other forms of nonmonetary relief, remain available under Delaware law. It also does not affect a director’s responsibilities under any other laws, such as the federal securities laws or other state or federal laws. Under the bylaws, Tempest will indemnify eachalso be empowered to enter into indemnification agreements with its directors, officers, employees and other agents and to purchase insurance on behalf of any person who waswhom Tempest is required or is a party or threatenedpermitted to be made a partyindemnify.

Tempest entered into indemnification agreements with its directors and executive officers, in addition to the indemnification provided for in its certificate of incorporation and bylaws, and intends to enter into indemnification agreements with any threatened, pending or completednew directors and executive officers in the future. These agreements provide for the indemnification of such persons for all reasonable expenses and liabilities incurred in connection with any action suit or proceeding other than an action by or in the right of us,brought against them by reason of the fact that hethey are or shewere serving in such capacity. Tempest believes that these certificate of incorporation and bylaws provisions and indemnification agreements are necessary to attract and retain qualified persons as directors, officers and employees.

Tempest has purchased and intends to maintain insurance on behalf of any person who is or was or has agreed to become, a director or officer of Tempest against any loss arising from any claim asserted against him or her and incurred by him or her in any such capacity, subject to certain exclusions.

The limitation of liability and indemnification provisions in Tempest’s certificate of incorporation and bylaws may discourage stockholders from bringing a lawsuit against directors for breach of their fiduciary duties. They may also reduce the likelihood of derivative litigation against directors and officers, even though an action, if successful, might benefit Tempest and its stockholders. A stockholder’s investment may be harmed to the extent Tempest pays the costs of settlement and damage awards against directors and officers pursuant to these

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indemnification provisions. Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to Tempest’s directors, officers and controlling persons pursuant to the foregoing provisions, or otherwise, Tempest has been advised that, in the opinion of the SEC, such indemnification is or was serving, oragainst public policy as expressed in the Securities Act, and is, therefore, unenforceable.

Under the Merger Agreement, from the closing of the merger through the sixth anniversary of the closing, Tempest has agreed that all rights to serve, at our requestindemnification, exculpation or advancement of expenses in favor of, and all limitations on the personal liability of, each present and former director or officer of Millendo Therapeutics, Inc. or TempestTx, Inc. provided for in the respective organizational documents of Millendo Therapeutics, Inc. and TempestTx, Inc. in effect as of the date of the Merger Agreement, shall continue to be honored and in full force and effect.

Under the Merger Agreement, the certificate of incorporation and bylaws of Tempest will contain provisions no less favorable with respect to indemnification, advancement of expenses and exculpation of present and former directors and officers than were set forth in the certificate of incorporation and amended and restated bylaws prior to the merger, which provisions shall not be amended, modified or repealed for a director, officer, partner, employee or trusteeperiod of or in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise (all such persons being referred to as an "Indemnitee"), or by reasonsix years’ time from the closing of any action alleged to have been taken or omitted in such capacity, against all expenses, including attorneys' fees, judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with such action, suit or proceeding and any appeal therefrom, if such Indemnitee acted in good faith andthe merger in a manner hethat would materially and adversely affect the rights thereunder of individuals who, at or she reasonably believedprior to the closing, were officers or directors of Millendo Therapeutics, Inc.

The Merger Agreement also provides that Tempest shall purchase an insurance policy in effect for six years from the closing, providing at least the same coverage as the directors’ and officers’ liability insurance policies maintained prior to the merger and containing terms and conditions that are not materially less favorable to current and former officers and directors.

The foregoing summaries are not intended to be exhaustive and are qualified in or not opposedtheir entirety by reference to our best interests, and, with respect to any criminal action or proceeding, he or she had no reasonable cause to believe his or her conduct was unlawful.

        Ourthe complete text of the statute, Tempest’s restated certificate of incorporation, also provides that we will indemnify any Indemnitee who was or is a partyas amended and the agreements referred to an action or suit by or in the right of us to procure a judgment in our favor by reason of the fact that the Indemnitee is or was, or has agreed to become, a director or officer, or is or was serving, or has agreed to serve, at our request as a director, officer, partner, employee or trustee of, or in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise, or by reason of any action alleged to have been taken or omitted in such capacity, against all expenses, including attorneys' fees,above and to the extent permitted by law, amounts paid in settlement actually and reasonably incurred in connection with such action, suit or proceeding, and any appeal therefrom, if the Indemnitee acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, our best interests, except that no indemnification shall be made with respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to us, unless a court determines that, despite such adjudication but in view of all of the circumstances, he or she is entitled to indemnification of such expenses. Notwithstanding the foregoing, to the extent that any Indemnitee has been successful, on the merits or otherwise, he or she will be indemnified by us against all expenses, including attorneys' fees, actually and reasonably incurred in connection therewith. Expenses must be advanced to an Indemnitee under certain circumstances.

Indemnification Agreements

        We have entered into indemnification agreements with each of our directors and officers. These indemnification agreements may require us, among other things, to indemnify our directors and officers for some expenses, including attorneys' fees, judgments, fines and settlement amounts incurred by a director or officer in any action or proceeding arising out of his or her service as one of our directors or officers, or any of our subsidiaries or any other company or enterprise to which the person provides services at our request.

        We maintain a general liability insurance policy that covers certain liabilities of directors and officers of our corporation arising out of claims based on acts or omissionsare qualified in their capacities as directors or officers.entirety by reference thereto.

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Item 16. Exhibits
and Financial Statement Schedules

 The exhibits to this registration statement are listed in the Exhibit Index to this registration statement, which Exhibit Index is hereby incorporated by reference.

Exhibit
Number

Description of Document

  1.1*Form of Underwriting Agreement.
  3.1Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant’s Quarterly Report on Form 10-Q (File No. 001-35890), filed with the SEC on May 15, 2019).
  3.2Certificate of Amendment to the Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K (File No. 001-35890), filed with the SEC on June 28, 2021).
  3.3Certificate of Amendment to the Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.2 to the Registrant’s Current Report on Form 8-K (File No. 001-35890), filed with the SEC on June 28, 2021).
  3.4Third Amended and Restated Bylaws, as Amended, of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K (File No. 001-35890), filed with the SEC on August 9, 2018).
  4.1Reference is made to Exhibits 3.1, 3.2 , 3.3 and 3.4.
  4.2Specimen Stock Certificate evidencing shares of Common Stock of the Registrant (incorporated by reference from Exhibit 4.1 to the Registration Statement on Form S-1 (File No. 333-183602) filed with the SEC on August 29, 2012).

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Exhibit
Number

Description of Document

  4.3Form of Tempest Therapeutics, Inc. Warrant to Purchase Stock (incorporated by reference from Exhibit 4.2 to the Registration Statement on Form S-4/A (File No. 333-255198) filed with the SEC on May 4, 2021).
  4.4**Form of Indenture, between the Registrant and one or more trustees to be named.
  4.5*Form of Note.
  4.6*Form of Common Stock Warrant Agreement and Warrant Certificate.
  4.7*Form of Preferred Stock Warrant Agreement and Warrant Certificate.
  4.8*Form of Debt Securities Warrant Agreement and Warrant Certificate.
  4.9*Form of Specimen Preferred Stock Certificate and Certificate of Designations of Preferred Stock.
  4.10*Form of Unit Agreement
  5.1**Opinion of Sidley Austin LLP.
23.1**Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm to Tempest Therapeutics, Inc.
23.2**Consent of Deloitte & Touche LLP, Independent Registered Public Accounting Firm to Private Tempest.
23.3**Consent of Sidley Austin LLP (included in Exhibit 5.1).
24.1**Power of Attorney (included on signature page).
25.1*Statement of Eligibility of Trustee under the Indenture.

*

To be filed by amendment or by a report filed under the Exchange Act and incorporated herein by reference, if applicable.

**

Filed herewith.

Item 17. Undertakings

        (a)   The undersigned registrant hereby undertakes:

    (1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

      (i) To include any prospectus required by sectionSection 10(a)(3) of the Securities Act of 1933;Act;

      (ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the CommissionSEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20%20 percent change in the maximum aggregate offering price set forth in the "Calculation“Calculation of Registration Fee"Fee” table in the effective registration statement; and

      (iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;

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provided,,however, that the undertakings set forth in paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the CommissionSEC by the registrant pursuant to sectionSection 13 or sectionSection 15(d) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, that are incorporated by reference in thethis registration statement or isare contained in a form of prospectus filed pursuant to Rule 424(b) that is part of thethis registration statement.

(2) That, for the purpose of determining any liability under the Securities Act, of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initialbona fide offering thereof.

(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(4) That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:

    (i) Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and

    (ii) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by sectionSection 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the

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      offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initialbona fide offering thereof.Provided,,however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.

    (5) That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

      (i) Anyany preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;

      (ii) Anyany free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;

      (iii) Thethe portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and

      (iv) Anyany other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

        (b)(6) That, for purposes of determining any liability under the Securities Act:

                (i)  the information omitted from the form of prospectus filed as part of the registration statement in reliance upon Rule 430A and contained in the form of prospectus filed by the registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act, shall be deemed to be part of the registration statement as of the time it was declared effective; and

               (ii)  each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initialbona fide offering thereof.

        (c)   The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant'sregistrant’s annual report pursuant to sectionSection 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan'splan’s annual report pursuant to sectionSection 15(d) of the Securities Exchange Act of 1934)Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initialbona fide offering thereof.

 (d)   

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(7) To file an application for the purpose of determining the eligibility of the trustee to act under subsection (a) of Section 310 of the Trust Indenture Act in accordance with the rules and regulations prescribed by the SEC under Section 305(b)(2) of the Trust Indenture Act.

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange CommissionSEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred

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or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

 (e)   The undersigned registrant hereby undertakes to file an application for the purpose of determining the eligibility of the trustee to act under subsection (a) of Section 310 of the Trust Indenture Act ("Act") in accordance with the rules and regulations prescribed by the Commission under section 305(b)(2) of the Act.

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SIGNATURES

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SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrantRegistrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this registration statementRegistration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Waltham, CommonwealthSouth San Francisco, State of Massachusetts,California, on November 3, 2016.this 16th day of July, 2021.

TEMPEST THERAPEUTICS, INC.

By: OvaScience, Inc./s/    Stephen Brady        


 

By:Stephen Brady

 

/s/ HARALD F. STOCK

Harald F. Stock, Ph.D
President and Chief Executive Officer


SIGNATURES AND POWER OF ATTORNEY

        We, the undersigned officersKNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and directors of OvaScience, Inc., herebyappoints Stephen Brady, Nicholas Maestas and Pierre Lorenzo jointly and severally, constitute and appoint Harald F. Stock, Ph.D. and Christophe Couturier, and each of them singly (with full power to each of them to act alone), ouras his or her true and lawful attorneys-in-factagent, proxy and agents,attorneys-in-fact, with full power of substitution and resubstitution, in each of them for herhim or himher and in herhis or hisher name, place and stead, and in any and all capacities, to (i) act on, sign and file with the Securities and Exchange Commission any and all amendments (including post-effective amendments) to this registration statement (ortogether with all schedules and exhibits thereto and any othersubsequent registration statement for the same offering that is to be effective upon filingfiled pursuant to Rule 462(b) under the Securities Act of 1933), and to file the same,1933, as amended, together with all schedules and exhibits thereto, (ii) act on, sign and file such certificates, instruments, agreements and other documents as may be necessary or appropriate in connection therewith, with(iii) act on and file any supplement to any prospectus included in this registration statement or any such amendment or any subsequent registration statement filed pursuant to Rule 462(b) under the Securities Act of 1933, as amended, and Exchange Commission, granting unto said attorneys-in-fact(iv) take any and agents, and each of them, full power and authority to do and perform each and every act and thing requisiteall actions which may be necessary or necessaryappropriate to be done, in and about the premises, as full tofully for all intents and purposes as shehe or heshe might or could do in person, hereby approving, ratifying and confirming all that said attorneys-in-factsuch agent, proxy and agentsattorney-in-fact or any of them or their or her or his substitute or substitutes may lawfully do or cause to be done by virtue hereof.thereof.

Pursuant to the requirements of the Securities Act, of 1933, this registration statementRegistration Statement has been signed below by the following persons in the capacities and on the dates indicated.indicated below as of July 16, 2021.

Signature

Title

/s/    Stephen Brady        

Stephen Brady

Chief Executive Officer and Director (Principal Executive Officer)

/s/    Nicholas Maestas        

Nicholas Maestas

Vice President, Strategy and Finance (Principal Financial Officer)

/s/    Pierre Lorenzo        

Pierre Lorenzo

Corporate Controller, Treasurer and Secretary (Principal Accounting Officer)

/s/    Mike Raab        

Mike Raab

Chairman of the Board of Directors

/s/    Thomas Dubensky        

Thomas Dubensky, Ph.D.

President and Director

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Signature
Title
Date







/s/ HARALD F. STOCK

Harald F. Stock, Ph.D

Signature

  President and Chief Executive Officer and Director (Principal executive officer)

Title

  November 3, 2016

/s/ CHRISTOPHE COUTURIER

Christophe Couturier


Chief Financial Officer and Treasurer (Principal financial and accounting officer



November 3, 2016


/s/ MICHELLE DIPP

Michelle Dipp, M.D., Ph.D.


Executive Chairman of the Board of Directors



November 3, 2016

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Table of Contents

Signature
Title
Date







/s/    RICHARD ALDRICH


Richard AldrichChristine Pellizzari        

Christine Pellizzari

  Director November 3, 2016

/s/ JEFFREY D. CAPELLO

Jeffrey D. Capello


Director



November 3, 2016


/s/ MARY FISHER

Mary Fisher


Director



November 3, 2016


/s/ JOHN HOWE

John P. Howe, III, M.D.


Director



November 3, 2016


/s/ MARC KOZIN

Marc Kozin


Director



November 3, 2016


/s/ THOMAS MALLEY

Thomas Malley


Director



November 3, 2016


/s/ JOHN SEXTON

John Sexton, Ph.D.


Director



November 3, 2016

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EXHIBIT INDEX

Exhibit
Number
Exhibit DescriptionFiled
Herewith
Incorporated
by Reference
herein from
Form or
Schedule
Filing DateSEC File/
Reg. Number
1.1*Form of Underwriting Agreement.

/s/    Geoff Nichol        

Geoff Nichol, M.B., Ch.B., M.B.A.

  Director 
1.2Sales Agreement, dated as of November 3, 2016, by and between the Registrant and Cowen and Company, LLCX
4.1Restated Certificate of Incorporation of the Registrant8-K (Exhibit 3.1)04/30/2013001-35890
4.2Second Amended and Restated By-laws of the Registrant8-K (Exhibit 3.2)04/30/2013001-35890
4.3Specimen Stock Certificate evidencing the shares of Common StockS-1 (Exhibit 4.1)08/29/2012333-183602
4.4*Form of Certificate of Amendment or Designation with respect to Preferred Stock
4.5*Form of Senior Debt Security
4.6*Form of Subordinated Debt Security
4.7Form of Senior IndentureX
4.8Form of Subordinated IndentureX
4.9*Form of Warrant Agreement and Warrant Certificate
4.10*Form of Rights Agreement and Right Certificate
4.11*Form of Purchase Contract
4.12*Form of Unit Agreement and Unit
5.1Opinion of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. with respect to the legality of the securities being registeredX
12.1*Computation of Ratio of Earnings to Fixed Charges
23.1Consent of Ernst & Young LLPX
23.2Consent of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. (included in the opinion filed as Exhibit 5.1)X
24.1Powers of Attorney (included on the signature page of this registration statement).X


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Exhibit
Number
Exhibit DescriptionFiled
Herewith
Incorporated
by Reference
herein from
Form or
Schedule
Filing DateSEC File/
Reg. Number
25.1*The Statement of Eligibility on Form T-1 under the Trust Indenture Act of 1939, as amended, of the Trustee under the Senior Indenture will be incorporated herein by reference from a subsequent filing in accordance with Section 305(b)(2) of the Trust Indenture Act of 1939.

/s/    Tom Woiwode        

Tom Woiwode, Ph.D.

  Director 

/s/    Stella Xu        

Stella Xu, Ph.D.

  Director 
25.2*The Statement of Eligibility on Form T-1 under the Trust Indenture Act of 1939, as amended, of the Trustee under the Subordinated Indenture will be incorporated herein by reference from a subsequent filing in accordance with Section 305(b)(2) of the Trust Indenture Act of 1939.

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*
To be subsequently filed, if applicable, by an amendment to this registration statement or by a Current Report on Form 8-K