Material Event (Form 8-K)

Item 8.01 Other Events.

In December 2025, as part of a private placement, LeonaBio, Inc. (the "Company") issued warrants to purchase an aggregate of 23,031,494 shares of its common stock (the "Series A Common Warrants"). The Series A Common Warrants have an exercise price of $6.35 per share.

On September 18, 2026, the Series A Common Warrants became exercisable and will remain exercisable until October 19, 2026, in accordance with the terms and conditions of the Series A Common Warrants. If exercised in full for cash, the Series A Common Warrants would provide the Company with approximately $146.2 million of additional capital.