Certain Warrants of PhaseRx, Inc. are subject to a Lock-Up Agreement Ending on 14-NOV-2016. These Warrants will be under lockup for 181 days starting from 17-MAY-2016 to 14-NOV-2016. Details: The directors, executive officers and holders of more than 5% of outstanding equity securities have agreed that, for a period of 180 days after the date of the final prospectus relating to this offering, and certain investors who made term loans to the company in the aggregate principal amount of $4.0 million have agreed that, for a period of 90 days after the date of the final prospectus relating to this offering, they will not, directly or indirectly, without the prior written consent of Laidlaw & Company (UK) Ltd., sell any shares of common stock or securities convertible into or exercisable or exchangeable for common stock.