(Exact name of Registrant as specified in its Charter) Registrant’s telephone number, including area code: (609) 642-6670 Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YESտNOց Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. YESտNOց Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). YESցNOտ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filerտNon-accelerated filerցEmerging growth companyտ Accelerated filerտSmaller reporting companyց 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 financialaccounting standards provided pursuant to Section 13(a) of the Exchange Act.տ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correctionof an error to previously issued financial statements.տ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).տ Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YESտNOց The aggregate market value of the voting and non-voting common equity held by non-affiliates of the Registrant, based on the closing price of the shares of common stock on TheNasdaq Stock Market on June 30, 2025 (the last business day of the Registrant’s most recently completed second fiscal quarter), was $53,435,814. Shares of the Registrant’scommon stock held by each executive officer, director and holder of 10% or more of the outstanding common stock have been excluded because such persons may be deemedaffiliates. This calculation does not reflect a determination that certain persons are affiliates of the Registrant for any other purpose. DOCUMENTS INCORPORATED BY REFERENCE Portions of the Registrant’s definitive Proxy Statement relating to the 2026 Annual Meeting of Stockholders are incorporated herein by reference in Part III of this Annual Reporton Form 10-K to the extent stated herein. Such proxy statement will be filed with the Securities and Exchange Commission within 120 days of the registrant’s fiscal year endedDecember 31, 2025. TABLE OF CONTENTS PART I Item 1.Business ..........................................................................................................................................1Item 1A. Risk Factors ....................................................................................................................................26Item 1B. Unresolved Staff Comments ...........................................................................................................88Item 1C. Cybersecurity..................................................................................................................................88Item 2.Properties ........................................................................................................................................90Item 3.Legal Proceedings...........................................................................................................................90Item 4.Reserved .........................................................................................................................................90 PART II Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofEquity Securities .............................................................................................................................91Item 6.Reserved .........................................................................................................................................91Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations..........92Item 7A. Reserved .........................................................................................................................................100Item 8.