Author: Ravi Shankar

New contract offers CNH-denominated exposure to Singapore kilobar gold prices, supporting regional hedging and cross-market trading strategies

TORONTO, Nov. 11, 2026 (GLOBE NEWSWIRE) — Abaxx Technologies Inc. (TSX:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company and majority shareholder of Abaxx Singapore Pte Ltd., the owner of Abaxx Commodity Exchange and Clearinghouse (individually, “Abaxx Exchange” and “Abaxx Clearing”), today announced that Abaxx Exchange will launch Gold Singapore CNH Cash-Settled (“GKC”) futures on November 16, 2026.

GKC futures will extend the reach of Abaxx’s Singapore kilobar gold prices into offshore Chinese renminbi (CNH) markets. The contract will connect CNH-denominated trading and hedging to prices established by Gold Singapore (GKS) futures, supporting their use across Asia’s bullion markets.

As Singapore and Hong Kong develop their roles as international bullion centers, regional price relationships are increasingly relevant to firms managing physical inventory and procurement. GKC adds a CNH-denominated instrument for managing Singapore gold exposure and supporting cross-market strategies involving price differences between these centers.

The launch complements Abaxx’s previously announced LNG North Pacific Asia CNH Cash-Settled (NPC) futures, also scheduled to begin trading on November 16, 2026. The two contracts connect offshore renminbi-denominated trading with Abaxx’s physical gold and LNG markets, giving global participants additional ways to hedge exposure and trade regional price differences as China’s commodity markets become more globally connected.

The CNH-denominated contracts will include:

• Gold Singapore CNH Cash-Settled (GKC) futures: A CNH-denominated, kilobar contract for gold of 0.9999 fineness, financially settled against the price of Abaxx’s Gold Singapore futures contract, with the final settlement price converted to CNH using the Bloomberg FX Fixing (BFIX) mid rate for USD/CNH for the 14:00 Singapore time fixing on the Last Trading Day, rounded to the nearest CNH 0.01.
• LNG North Pacific Asia CNH-Cash Settled (NPC) futures: A CNH-denominated, 10,000 MMBtu contract, financially settled against the price of Abaxx’s LNG DAP North Pacific Asia (NPA) futures contract, with the final settlement price also converted to CNH using the Bloomberg FX Fixing (BFIX) mid rate for USD/CNH at the 14:00 Singapore time fixing on the Last Trading Day, rounded to the nearest CNH 0.01.

About Abaxx Technologies
Abaxx Technologies Inc. is building Smarter Markets: markets empowered by better tools, better benchmarks, and better technology to drive market-based solutions to the biggest challenges we face as a society, including the energy transformation and the transition to an AI-augmented economy.

In addition to developing and deploying financial technologies that make communication, trade, and transactions easier and more secure, Abaxx is the majority shareholder of Abaxx Singapore, the owner of Abaxx Exchange and Abaxx Clearing, parent company of wholly owned subsidiaries Abaxx Spot and Adaptive Infrastructure, and founder and creator of Abaxx Labs and the SmarterMarkets™ podcast.

For more information, visit investors.abaxx.tech.

Media Inquiries
Tara Hayes
tara@abaxx.tech

Investor Inquiries
Tel: +1 246 271 0082
E-mail: ir@abaxx.tech

Cautionary Statement Regarding Forward-Looking Information
This press release includes certain “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities laws. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “believe”, “anticipate”, “estimate”, “project”, “intend”, “expect”, “may”, “will”, “plan”, “should”, “would”, “could”, “target”, “propose”, “goal”, “objective”, “ongoing”, “potential”, “likely” or the negative thereof or similar expressions.

In particular, this press release contains forward-looking statements including, without limitation, statements regarding Abaxx’s objectives, future plans, development of its market infrastructure and technology, introduction and timing of implementation of new futures contracts and anticipated benefits and use cases for Abaxx’s futures contracts. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Factors that could cause actual results to differ materially include, among others: delays in implementation, or failure to implement some or all of the new futures contacts on the expected timeline or at all; risks relating to the global economic climate; the risk that trading volume, average daily volume, and open interest on Abaxx Exchange may not continue to grow, or may decline, if the liquidity-related credits provided under Abaxx’s market maker and liquidity provider programs are reduced, discontinued, or otherwise changed, or if market participants who currently trade on Abaxx Exchange in connection with such programs do not continue to trade, or do not increase their trading activity, independently of such programs; changes in market conditions, trading activity and participant responses; failure or delays related to the onboarding of clearing members; dilution; Abaxx’s limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for Abaxx to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of intellectual property and proprietary rights; the effect of government regulation and compliance on Abaxx and the industry; acquiring and maintaining regulatory approvals for Abaxx’s products and operations; the ability to list Abaxx’s securities on stock exchanges in a timely fashion or at all; the failure of energy, commodity markets and collateral use cases to develop according to the expectations of Abaxx; risks related to operations in foreign jurisdictions; network security risks; the ability of Abaxx to maintain properly working systems; reliance on key personnel; contractual risk; third-party risk; clearinghouse risk; malicious actor risks; third-party software license risk; system failure risk; risk of technological change; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; volatile securities markets impacting security pricing unrelated to operating performance; changes in global weather patterns; changes in the price of commodities, capital market conditions, restrictions on labor and international travel and supply chains, and the risk factors identified in the Company’s most recent management’s discussion and analysis filed on SEDAR+.

In addition, particular assumptions which could impact future results of the business of Abaxx include, but are not limited to, Abaxx’s assumption that: international and Chinese domestic gold bullion markets develop as planned and are not materially disrupted; it will be able to successfully implement its recently announced governance and disclosure initiatives; market conditions will be supportive and participant demand will be sustained; trading volume and liquidity on Abaxx Exchange will continue to develop over time, independently of its market maker and liquidity provider programs; additional clearing members will complete onboarding and begin clearing activities according to Abaxx’s expectations; Abaxx will be able to execute its business plan and growth strategy; Abaxx will retain or successfully replace its key personnel; Abaxx will protect its intellectual property rights; energy and commodity markets will continue to develop according to Abaxx’s expectations; collateral use cases for Abaxx’s products will develop in line with Abaxx’s expectations; the demand for centrally cleared, physically deliverable futures and derivatives will grow as anticipated; regulatory approvals required for Abaxx’s products and operations will remain in good standing or will be obtained as required; applicable laws and regulations will not change in a way that adversely affects Abaxx’s business, and that its technology, systems and infrastructure will operate as intended without significant failure, security breach or disruption; third-party service providers, clearing and settlement partners and other service providers will continue to perform their obligations and act according to Abaxx’s expectations; general economic and capital market conditions, commodity prices, currency exchange rates and the supply chain environment will not deteriorate in a way that materially affects Abaxx or its participants, and that Abaxx’s competitive environment will not change materially. Abaxx has also assumed that no significant events occur outside of Abaxx’s normal course of business.

Abaxx cautions that the foregoing list of material factors, risks and assumptions is not exhaustive. In addition, although Abaxx has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The forward-looking statements and information contained in this press release represent the expectations of Abaxx as of the date of this press release and, accordingly, are subject to change after such date. Abaxx undertakes no obligation to update or revise any forward- looking statements and information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements and information. Neither the Toronto Stock Exchange nor any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

~ Third Quarter Revenue of $96.6 Million, Up 290% YoY   ~

~ First Profitable Quarter in the Company’s History on an Adjusted EBITDA Basis ~

~ 22,000 GPUs at Utilization of Approximately 85% ~

LONGBOAT KEY, Fla., Nov. 11, 2026 (GLOBE NEWSWIRE) — RUM Group Inc. (Nasdaq: RUM) (“RUM Group” or the “Company”), an AI infrastructure and video company on a mission to unlock the power of human imagination, today announced financial results for the fiscal quarter ended September 30, 2026.

Q3 2026 Key Highlights and Key Items

• Record quarterly revenue of $96.6 million, up 139% QoQ and 290% YoY, and 3.8% above the top end of our guidance.
• Quake AI contributed $68.2 million, or more than 70% of total revenue, in its first full quarter.
• The first profitable quarter in the Company’s history on an Adjusted EBITDA basis.
• Quake AI continues to deliver strong performance and demand for its existing fleet of approximately 22,000 NVIDIA GPUs, with utilization of approximately 85% for the quarter.
• Acquired an additional 8.26 million shares of Northern Data AG (“Northern Data”), increasing ownership from 85.2% to approximately 98%.
• Commenced squeeze-out proceedings under the German Stock Corporation Act, expecting to reach 100% ownership of Northern Data in early 2027.
• Due to market conditions, a certain portion of our previously disclosed 250MW of unmonetized capacity targeted for 2027 may be pushed out beyond 2027.
• Announced a long-term distribution and content partnership with WWE to become the new home of the weekly premium program WWE Main Event.
• In the third quarter, began a cost reset in video, tied to a refocused strategy. Expecting to start seeing related savings through 2027.

Management Commentary

Chris Pavlovski, CEO of RUM Group, commented, “Q3 was a defining quarter for RUM Group. We delivered record revenue, nearly four times last year’s, and achieved positive Adjusted EBITDA for the first time in our history. Quake AI is now the engine of our business. We have real assets running real AI workloads for real customers and generating real cash. Our 22,000-GPU estate is nearly sold out at 85% utilization. As capital becomes more selective, we believe it will flow to experienced operators with disciplined balance sheets. That is exactly where RUM Group stands, and we intend to use that position to build lasting value for our shareholders.”

Q3 Financial Summary (Unaudited)

For the three months ended September 30,		2026		2025		Variance ($)	Variance (%)
Revenues	$	96,577,752	$	24,762,445	$	71,815,307	290	%
Expenses
Cost of services (content, hosting and other)	$	57,186,000	$	25,219,331	$	31,966,669	127	%
General and administrative		25,926,872		10,492,008		15,434,864	147	%
Research and development		7,723,475		4,455,354		3,268,121	73	%
Sales and marketing		7,690,241		5,076,937		2,613,304	51	%

Revenues increased by $71.8 million to $96.6 million for the three months ended September 30, 2026 compared to the three months ended September 30, 2025, reflecting higher Rumble revenues and the contribution of Quake AI. Rumble revenues increased by $3.6 million, driven by a $5.6 million increase in advertising revenue, partially offset by a $2.0 million decrease in other services revenue. The decrease in other services revenue reflected a $1.2 million decrease in subscription revenue and a $0.8 million decrease in licensing, platform hosting fees and other revenues. Quake AI contributed revenues of $68.2 million for the three months ended September 30, 2026 compared to $0 for the three months ended September 30, 2025, reflecting the inclusion of a first full quarter of combined results following the closing of the Northern Data acquisition on June 17, 2026. Quake AI revenues were generated from GPU cloud computing services, provided on a reserved or on-demand basis, as well as data center hosting and colocation services.

Cost of services increased by $32.0 million to $57.2 million for the three months ended September 30, 2026 compared to the three months ended September 30, 2025. The increase was attributable to $30.0 million of Quake AI data center costs and $3.1 million of higher programming and content costs, partially offset by a $1.1 million decrease in other cost of services.

General and administrative expenses increased by $15.4 million to $25.9 million for the three months ended September 30, 2026 compared to the three months ended September 30, 2025. The increase was driven by the acquisition of Northern Data, which contributed $11.0 million of payroll and related expenses and other administrative costs. Excluding Northern Data, the remaining variance reflects a $3.0 million increase in professional fees, a $0.8 million increase in payroll and related expenses and a $0.6 million increase in other administrative costs.

Research and development expenses increased by $3.3 million to $7.7 million for the three months ended September 30, 2026 compared to the three months ended September 30, 2025. The increase was due to an increase in payroll and related expenses of $1.8 million, of which $0.8 million was attributable to Northern Data, and higher costs associated with computer software, hardware, and other expenditures used in research and development-related activities of $1.5 million.

Sales and marketing expenses increased by $2.6 million to $7.7 million for the three months ended September 30, 2026 compared to the three months ended September 30, 2025. The increase was attributable to $2.0 million of higher payroll and related expenses, including $0.7 million from Northern Data, $0.4 million in higher marketing and public relations spending, and $0.2 million in other sales and marketing-related expenditures.

As of September 30, 2026, RUM Group had total liquidity of $142.3 million, consisting of $134.4 million in cash and cash equivalents and 94.68 Bitcoin, valued at $7.9 million.

Q4 2026 Outlook

RUM Group provides revenue outlook for the fourth quarter of 2026 of $88 million to $94 million.

SEC Filings

In light of the Company’s recent qualification as a “well known seasoned issuer” under SEC rules, the Company is converting its existing “universal” shelf registration statement, and its resale registration statement for Tether, into automatic WKSI shelf registration statements and expects to file those with the SEC this week.

Conference Call Webcast Information

The Company will host a conference call at 10:00 a.m. Eastern Time today, Wednesday, November 11, 2026, to discuss its quarterly results. Access to the live webcast and replay of the conference call will be available here and on RUM Group’s Investor Relations website at investors.rumble.com under ‘News & Events.’

About RUM Group Inc.

RUM Group Inc. is an AI infrastructure and video company. Its Quake AI business delivers AI compute as a service, operating AI data centers including GPU and CPU compute, storage, and networking at scale. Rumble, RUM Group’s video business and the original tenant of Quake AI, provides creators and enterprises a full suite of video technologies, unlocking reach, scale, and monetization. RUM Group is building the rails of the agentic-first enterprise: the AI compute, cloud infrastructure, and trust layer for the agentic AI future, advancing RUM Group’s mission to maximize the power of human imagination. For more information, visit www.rum.group.

Non-U.S. GAAP Financial Measures

To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use certain non-GAAP financial measures, as described below, to understand and evaluate our core operating performance. These non-GAAP financial measures, which may be different than similarly titled measures used by other companies, are presented to enhance investors’ overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We use the non-GAAP financial measure of Adjusted EBITDA, which is defined as net income (loss) excluding interest income (expense), net, other income (expense), net, provision for income taxes, depreciation and amortization, share-based compensation expense, acquisition-related transaction costs, change in fair value of warrants, change in fair value of digital assets, and change in the fair value of derivative. The Company’s management believes that it is important to consider Adjusted EBITDA, in addition to net income (loss), as it helps identify trends in our business that could otherwise be masked by the effect of the gains and losses that are included in net income (loss) but excluded from Adjusted EBITDA.

Adjusted EBITDA should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. There are several limitations related to the use of Adjusted EBITDA rather than net income (loss), the nearest GAAP equivalent. As a result of these limitations, you should consider Adjusted EBITDA alongside other financial performance measures, including net income (loss) and our other financial results presented in accordance with GAAP.

Forward-Looking Statements

Certain statements in this press release and the associated conference call constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not historical facts are forward-looking statements and include, for example, statements regarding our expectations regarding future results and certain key performance indicators, including our fourth quarter 2026 revenue outlook and views regarding 2027 targeted capacity and annual run rate opportunity, and our ability to meet working capital needs and cash requirements over the next 12 months. Certain of these forward-looking statements can be identified by using words such as “anticipates,” “believes,” “intends,” “estimates,” “targets,” “expects,” “endeavors,” “forecasts,” “could,” “will,” “may,” “future,” “likely,” “on track to deliver,” “continues to,” “looks forward to,” “is primed to,” “plans,” “projects,” “assumes,” “should” or other similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, and our actual results could differ materially from future results expressed or implied in these forward-looking statements. The forward-looking statements included in this release are based on our current beliefs and expectations of our management as of the date of this release. These statements are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements include risks relating to the Northern Data business, including with respect to our ability to successfully integrate the operations of the Company and Northern Data and achieve the anticipated strategic and financial benefits of the transaction; our performance under our recently announced commercial agreement with an unaffiliated U.S.-based third-party cloud customer related to our Maysville, GA site will require substantial capital investment to build and develop the data center facilities, and our inability to obtain sufficient financing on acceptable terms could materially and adversely affect our business, financial condition and results of operations; our development and construction of new data center facilities (including our Maysville, GA site) involve significant risks, including increasing political and regulatory scrutiny of data centers (including at the state, local and municipal levels), increasing public and community opposition to data center development and exposure to a highly evolving regulatory landscape, which could delay, increase the cost of, or prevent the completion of our planned projects, including under our existing customer agreements, and subject us to potential legal liabilities; our substantial indebtedness following the Northern Data business combination, and additional indebtedness we expect to incur in connection with our AI infrastructure and data center business, could adversely affect our financial condition and limit our operational flexibility; our ability to grow and manage future growth profitably over time, maintain relationships with customers, compete within our industry and retain key employees; the possibility that we may be adversely impacted by economic, business, and/or competitive factors; our limited operating history, including with respect to our cloud and AI infrastructure business, makes it difficult to evaluate our business and prospects; operating costs, customer loss or business disruption being greater than expected following the Northern Data business combination; the effects of the business combination, including the combined company’s future financial position, operating results and strategy; risks that the growth strategy of the combined business, including our customer agreements, may require a significant amount of debt financing, which may not be available on favorable terms, if at all, and risks relating to the ability of the combined business to service such debt obligations; we may fail to maintain adequate operational and financial resources or raise additional capital or generate sufficient cash flows; risks related to disruption of management time from ongoing business operations of each of the Company and Northern Data due to the business combination; unanticipated litigation, claims or assessments, as well as the outcome or impact of any current or pending litigation, claims or assessments; potential security violations to the combined company’s, the Company’s and Northern Data’s information technology systems, any of which could be enhanced or facilitated by artificial intelligence; changes in legislation or governmental regulations affecting the combined company, the Company or Northern Data, including our data center projects, and international, national or local economic, social or political conditions or other factors such as currency exchange rates, inflation rates, recessionary or expansive trends, taxes and regulations and laws that could adversely affect the combined company, the Company, Northern Data or their respective clients; with respect to our video business, we may not grow or maintain our active user base, and may not be able to achieve or maintain profitability; with respect to our video business, risks relating to our ability to attract new advertisers, or the potential loss of existing advertisers or the reduction of or failure by existing advertisers to maintain or increase their advertising budgets; our cloud business may not achieve the intended results, which could adversely affect our financial condition and results of operations; negative media campaigns may adversely impact our financial performance, results of operations, and relationships with our business partners, including content creators and advertisers; spam activities, including inauthentic and fraudulent user activity, if undetected, may contribute, from time to time, to some amount of overstatement of our performance indicators; the operation of our non-custodial crypto wallet exposes us to significant regulatory, operational, security, and market risks that could adversely affect our business, financial condition, results of operations, and reputation; we collect, store, and process large amounts of user video content and personal information of our users and subscribers. If our security measures are breached, our sites and applications may be perceived as not being secure, traffic and advertisers may curtail or stop viewing our content or using our services, our business and operating results could be harmed, and we could face governmental investigations and legal claims from users and subscribers; we may fail to comply with applicable privacy laws, subjecting us to liability and damages; our cloud services business operates in a highly regulated environment, subject to a complex and rapidly evolving array of domestic and international laws, regulations, and industry standards governing data privacy, cybersecurity, data localization, cross-border data transfers, and emerging technologies such as artificial intelligence; we are subject to cybersecurity risks and interruptions or failures in our information technology systems, any of which could be enhanced or facilitated by artificial intelligence, and as we grow and gain recognition, we will likely need to expend additional resources to enhance our protection from such risks. Notwithstanding our efforts, a cyber incident could occur and result in information theft, data corruption, operational disruption and/or financial loss; we may be found to have infringed on the intellectual property of others, which could expose us to substantial losses or restrict our operations; we may face liability for hosting a variety of tortious or unlawful materials uploaded by third parties, notwithstanding the liability protections of Section 230 of the Communications Decency Act of 1996; user-generated content could affect the quality of our services and deter existing or potential users from using our platforms, and we may face negative publicity for removing, or declining to remove, certain content, regardless of whether such content violates any law; paid endorsements by our content creators may expose us to regulatory risk, liability, and compliance costs, and, as a result, may adversely affect our business, financial condition and results of operations; our traffic growth, engagement, and monetization depend upon effective operation within and compatibility with operating systems, networks, devices, web browsers and standards, including mobile operating systems, networks, and standards that we do not control; our video business depends on continued and unimpeded access to our content and services on the internet. If we or those who engage with our content experience disruptions in internet service, or if internet service providers are able to block, degrade or charge for access to our content and services, we could incur additional expenses and the loss of traffic and advertisers; we face significant market competition, and if we are unable to compete effectively with our competitors for traffic and advertising spend, our business and operating results could be harmed; we rely on data from third parties to calculate certain of our performance metrics and real or perceived inaccuracies in such metrics may harm our reputation and negatively affect our business; changes to our existing content and services could fail to attract traffic and advertisers or fail to generate revenue; failure to attract new advertisers, the loss of existing advertisers, or the reduction of or failure by existing advertisers to maintain or increase their advertising budgets would adversely affect our business; we depend on third-party vendors, including internet service providers, advertising networks, and data centers, to provide core services; hosting and delivery costs may increase unexpectedly; we have offered and intend to continue to offer incentives, including economic incentives, to content creators to join our platform, and these arrangements may involve fixed payment obligations that are not contingent on actual revenue or performance metrics generated by the applicable content creator but rather are based on our modeled financial projections for that creator, which if not satisfied may adversely impact our financial performance, results of operations and liquidity; we may be unable to develop or maintain effective internal controls; changes in tax rates, changes in tax treatment of companies engaged in e-commerce, the adoption of new tax legislation, or exposure to additional tax liabilities may adversely impact our financial results; compliance obligations imposed by new privacy laws, laws regulating online video sharing platforms, other online platforms, and online speech in certain jurisdictions in which we operate, or industry practices may adversely affect our business; and those additional risks, uncertainties and factors described in more detail under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and in our other filings with the Securities and Exchange Commission. We do not intend, and, except as required by law, we undertake no obligation, to update any of our forward-looking statements after the issuance of this release to reflect any future events or circumstances. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

RUM Group Inc. on Social Media

Investors and others should note that we announce material financial and operational information to our investors using our investor relations website (investors.rumble.com), press releases, SEC filings and public conference calls and webcasts. We also intend to use certain social media accounts as a means of disclosing information about us and our services and to comply with our disclosure obligations under Regulation FD: the @rumblevideo X account (x.com/rumblevideo), the @rumble TRUTH Social account (truthsocial.com/@rumble), the @chrispavlovski X account (x.com/chrispavlovski), and the @chris TRUTH Social account (truthsocial.com/@chris), which Chris Pavlovski, our Chairman and Chief Executive Officer, also uses as a means for personal communications and observations. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time, as listed on our investor relations website.

For investor inquiries, please contact:
Shannon Devine
MZ Group, MZ North America
203-741-8811
investors@rumble.com

Source: RUM Group Inc.

Condensed Consolidated Interim Statements of Operations (Unaudited)
	Three months ended September 30						Nine months ended September 30
		2026			2025			2026			2025
Revenues	$	96,577,752		$	24,762,445		$	162,404,284		$	73,553,866
Expenses
Cost of services (content, hosting and other)	$	57,186,000		$	25,219,331		$	114,790,250		$	81,797,812
General and administrative		25,926,872			10,492,008			52,650,983			38,792,062
Research and development		7,723,475			4,455,354			20,258,664			14,070,349
Sales and marketing		7,690,241			5,076,937			26,602,057			16,607,389
Acquisition-related transaction costs		3,545,525			5,236,796			36,707,170			7,624,901
Amortization and depreciation		85,184,021			3,880,492			105,451,787			10,775,361
Change in fair value of digital assets		(6,038,100	)		(1,456,388	)		463,440			(4,949,413	)
Total expenses		181,218,034			52,904,530			356,924,351			164,718,461
Loss from operations		(84,640,282	)		(28,142,085	)		(194,520,067	)		(91,164,595	)
Interest income (expense), net		(3,686,718	)		2,896,649			(1,058,653	)		7,979,880
Other income (expense)		(1,543,669	)		46,901			(6,898,285	)		(476	)
Changes in fair value of warrant liability		603,453			8,936,773			1,931,381			24,379,616
Changes in fair value of derivative		(1,587,289	)		–			(1,303,298	)		9,700,000
Loss before income taxes		(90,854,505	)		(16,261,762	)		(201,848,922	)		(49,105,575	)
Income tax expense		(1,844,628	)		–			(2,051,768	)		(31,310	)
Deferred tax benefit		2,844,687			–			2,840,689			–
Net loss		(89,854,446	)		(16,261,762	)		(201,060,001	)		(49,136,885	)
Net loss attributable to non-controlling interest		(9,938,079	)		–			(11,728,558	)		–
Net loss attributable to RUM Group Inc.	$	(79,916,367	)	$	(16,261,762	)	$	(189,331,443	)	$	(49,136,885	)
Loss per share – basic and diluted	$	(0.19	)	$	(0.06	)	$	(0.58	)	$	(0.19	)
Weighted‑average number of common shares
used in computing net loss per share‑basic and diluted		424,787,465			260,529,688			323,852,948			252,722,453
Share-based compensation expense included in expenses:
Cost of services (content, hosting, and other)	$	1,113,422		$	971,476		$	4,261,326		$	3,534,489
General and administrative		3,591,268			3,020,892			9,177,133			12,256,088
Research and development		948,308			909,444			3,157,662			2,450,885
Sales and marketing		705,689			481,879			2,126,899			1,206,326
Total share-based compensation expense	$	6,358,687		$	5,383,691		$	18,723,020		$	19,447,788

Condensed Consolidated Interim Balance Sheets (Unaudited)
		September 30, 2026			December 31, 2025
Assets
Current assets
Cash and cash equivalents	$	134,428,984		$	237,919,453
Accounts receivable and other, net		62,157,309			11,859,231
Contingent consideration receivable		23,827,868			–
Prepaid expenses and other		130,750,386			14,767,472
		351,164,547			264,546,156
Investment		6,654,186			–
Other non-current assets		21,643,306			1,123,781
Digital assets		11,091,139			18,450,362
Property and equipment, net		899,704,119			16,178,941
Right‑of‑use assets, net		134,730,196			1,868,458
Intangible assets, net		161,384,758			24,023,709
Goodwill		413,780,068			10,655,391
	$	2,000,152,319		$	336,846,798
Liabilities and Shareholders’ Equity
Current liabilities
Accounts payable and accrued liabilities	$	105,949,995		$	27,875,120
Deferred revenue		23,493,004			16,105,587
Lease liabilities		41,556,992			1,281,444
		170,999,991			45,262,151
Convertible notes payable		358,837,827			–
Lease liabilities, net of current portion		93,100,051			633,128
Deferred tax liability		20,507,340			–
Warrant liability		13,677,946			15,609,327
Other liability		508,171			500,000
		657,631,326			62,004,606
Commitments and contingencies
Shareholders’ equity
Preferred shares
($0.0001 par value per share, 20,000,000 shares authorized, no shares issued or outstanding)		–			–
Common shares
($0.0001 par value per share, 1,400,000,000 Class A shares authorized, 276,483,827 and 215,736,576 shares issued and outstanding, as of September 30, 2026 and December 31, 2025, respectively; 170,000,000 Class C (and corresponding ExchangeCo Share) authorized, 123,690,470 and 123,690,470 shares issued and outstanding, as of September 30, 2026 and December 31, 2025, respectively; 110,000,000 Class D shares authorized, 95,791,120 and 95,791,120 shares issued and outstanding, as of September 30, 2026 and December 31, 2025, respectively)		779,514			773,439
Accumulated deficit		(754,727,747	)		(565,396,304	)
Additional paid‑in capital		2,105,659,933			839,465,057
Accumulated other comprehensive loss		(19,675,113	)		–
Non-controlling interest		10,484,406			–
		1,342,520,993			274,842,192
	$	2,000,152,319		$	336,846,798

Condensed Consolidated Interim Statements of Cash Flows (Unaudited)
For the nine months ended September 30,		2026			2025
Cash flows provided by (used in)
Operating activities
Net loss for the period	$	(201,060,001	)	$	(49,136,885	)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization and depreciation		105,451,787			10,775,361
Share-based compensation		18,723,020			19,447,788
Provision for credit losses		1,335,730			–
Net trade and barter revenue and expense		(4,722,263	)		1,310,795
Non-cash lease expense		14,401,555			864,361
Change in fair value of warrants		(1,931,381	)		(24,379,616	)
Change in fair value of digital assets		463,440			(4,949,413	)
Change in fair value of derivative		1,303,298			(9,700,000	)
Unrealized foreign exchange gain		(5,069,741	)		–
Other		264,984			7,552
Changes in operating assets and liabilities:
Accounts receivable		(13,213,688	)		(2,797,197	)
Prepaid expenses and other		(795,201	)		6,642,470
Accounts payable and accrued liabilities		(6,890,592	)		10,208,952
Deferred revenue		1,532,504			1,517,588
Income tax receivable		(10,516,566	)		–
Deferred tax liability		(4,282,724	)		–
Operating lease liabilities		(8,822,921	)		(815,788	)
Net cash used in operating activities		(113,828,760	)		(41,004,032	)
Investing activities
Purchase of property and equipment		(75,545,353	)		(1,774,932	)
Purchase of intangible assets		(4,211,621	)		(2,019,595	)
Sale (purchase) of digital assets		15,284,386			(19,100,000	)
Acquisition of Northern Data AG, net of cash acquired		51,036,335			–
Net cash used in investing activities		(13,436,253	)		(22,894,527	)
Financing activities
Proceeds from the issuance of pre-funded warrants in connection with equity commitment agreement		36,242,537			–
Taxes paid from net share settlement for share-based compensation		(1,628,105	)		(3,260,193	)
Proceeds from exercise of warrants and stock options		3,734,490			2,197,419
Proceeds from issuance of Class A Common Stock under ESPP		81,064			129,374
Proceeds from issuance of Class A Common Stock		–			775,000,000
Repurchase of Class A Common Stock		–			(525,000,000	)
Share issuance costs		(11,504,125	)		(29,429,791	)
Net cash provided by financing activities		26,925,861			219,636,809
Effect of exchange rates on cash and cash equivalents		(3,151,317	)		–
(Decrease) increase in cash and cash equivalents during the period		(103,490,469	)		155,738,250
Cash and cash equivalents, beginning of period		237,919,453			114,018,900
Cashand cash equivalents, end of period	$	134,428,984		$	269,757,150
Supplemental cash flow information:
Cash paid for income taxes	$	3,436,388		$	33,755
Cash paid for interest		5,636,828			–
Cash paid for lease liabilities		12,877,408			805,308
Non-cash investing and financing activities:
Non-cash consideration related to the acquisition of Northern Data AG		1,515,556,856			–
Property and equipment in accounts payable and accrued liabilities		1,273,629			2,112,958
Recognition of operating right-of-use assets in exchange of operating lease liabilities, net of derecognition of terminated leases		776,340			1,119,786
Share-based compensation capitalized related to intangible assets		373,343			398,323

Reconciliation of GAAP to Non-GAAP Financial Measures Reconciliation of Adjusted EBITDA (Unaudited)
	Three months ended September 30,						Nine months ended September 30,
		2026			2025			2026			2025
Net loss	$	(89,854,446	)	$	(16,261,762	)	$	(201,060,001	)	$	(49,136,885	)
Adjustments:
Amortization and depreciation		85,184,021			3,880,492			105,451,787			10,775,361
Share-based compensation expense		6,358,687			5,383,691			18,723,020			19,447,788
Interest (income) expense, net		3,686,718			(2,896,649	)		1,058,653			(7,979,880	)
Other (income) expense		1,543,669			(46,901	)		6,898,285			476
Income tax expense		1,844,628			–			2,051,768			31,310
Deferred tax benefit		(2,844,687	)		–			(2,840,689	)		–
Change in fair value of warrants liability		(603,453	)		(8,936,773	)		(1,931,381	)		(24,379,616	)
Change in fair value of digital assets		(6,038,100	)		(1,456,388	)		463,440			(4,949,413	)
Change in fair value of derivative		1,587,289			–			1,303,298			(9,700,000	)
Acquisition-related transaction costs		3,545,525			5,236,796			36,707,170			7,624,901
Adjusted EBITDA	$	4,409,851		$	(15,097,494	)	$	(33,174,650	)	$	(58,265,958	)

D-PLEX₁₀₀ NDA Under FDA Priority Review with PDUFA Goal Date of November 28, 2026; U.S. Commercial Launch Preparations Ongoing

Expanding D-PLEX₁₀₀ Globally: MAA Submitted and Validated by the EMA and European Commercialization Rights to D-PLEX₁₀₀ Regained

“PolyPid 2030” Growth Strategy Unveiled, Introducing PD01B, a New Kynatrix™-Based Product Candidate for the Treatment of Diabetic Foot Infections

$30 Million Received from Azurity

Conference Call Scheduled for Today at 8:30 AM ET

PETACH TIKVA, Israel, Nov. 11, 2026 (GLOBE NEWSWIRE) — PolyPid Ltd. (Nasdaq: PYPD) (“PolyPid” or the “Company”), an innovative biopharmaceutical company dedicated to improving patient outcomes by elevating treatment effectiveness, right where care begins, today provided a corporate update and reported financial results for the three and nine months ended September 30, 2026.

Recent Corporate Highlights:

D-PLEX₁₀₀ Under U.S. Food and Drug Administration (“FDA”) Priority Review; PolyPid and Azurity Preparing for Potential U.S. Launch:

• The FDA is reviewing the New Drug Application (“NDA”) for D-PLEX₁₀₀ for the prevention of surgical site infections (“SSIs”) in patients undergoing colorectal surgery under Priority Review, with a Prescription Drug User Fee Act (“PDUFA”) goal date of November 28, 2026. Labeling discussions with the FDA are underway, and all scheduled FDA interactions are on track and aligned with the PDUFA goal date.
• Subject to approval, PolyPid and Azurity Pharmaceuticals (“Azurity”) are preparing for the U.S. commercial launch of D-PLEX₁₀₀ in early 2027. Azurity is building its U.S. commercial organization, with an existing hospital footprint that reaches more than 1,700 leading U.S. hospitals and academic centers.
• A New Technology Add-on Payment (“NTAP”) application for D-PLEX₁₀₀ has been submitted to the Centers for Medicare & Medicaid Services (“CMS”), with a decision expected in August 2027. If granted, NTAP would provide additional hospital reimbursement for D-PLEX₁₀₀ in the inpatient setting.
• PolyPid has received a total of $30 million in upfront and near-term milestone payments from Azurity, comprising $15 million upon signing of the agreement in July 2026 and an additional $15 million milestone payment following FDA acceptance of the NDA, received subsequent to September 30, 2026. PolyPid remains eligible for over $290 million in additional regulatory, launch and sales-based milestone payments. In addition, upon commercialization, PolyPid will receive a pre-negotiated transfer price for each unit of D-PLEX₁₀₀ it manufactures and supplies to Azurity, as well as tiered royalties ranging from mid-teen to mid-twenties percentages on sales in the U.S. and Canada.

Expanding D-PLEX₁₀₀ Globally:

• On September 14, 2026, PolyPid submitted its Marketing Authorization Application (“MAA”) for D-PLEX₁₀₀ to the European Medicines Agency (“EMA”) under the Centralized Procedure, meeting its previously communicated third quarter 2026 timeline. Subsequent to quarter end, the EMA validated the MAA, initiating its formal review. A decision is expected in the second half of 2027.
• PolyPid and ADVANZ PHARMA mutually agreed to terminate their 2022 exclusive License, Distribution and Supply Agreement for D-PLEX₁₀₀ in Europe, and exclusive European commercialization rights to D-PLEX₁₀₀ have reverted to PolyPid.
• The Company is in active discussions with potential commercial partners in Europe.

“PolyPid 2030” Strategy and Expanded Kynatrix™ Pipeline:

• Subsequent to quarter end, on October 28, 2026, PolyPid hosted its “PolyPid 2030” virtual investor day and KOL event, outlining a long-term growth strategy built on three levers: maximizing D-PLEX₁₀₀ through the Azurity partnership, including label expansion beyond colorectal surgery; expanding D-PLEX₁₀₀ into Europe and other territories through partnerships; and building a Kynatrix-based pipeline.
• Introduced PD01B, a new hyper-localized Kynatrix-based product candidate for the treatment of moderate to severe diabetic foot infections following wound debridement. PD01B is designed to deliver high-concentration doxycycline in the wound for weeks and is expected to be developed under its own NDA, separate from D-PLEX₁₀₀. PD01B leverages the active ingredient, Kynatrix technology, manufacturing site and processes, and preclinical and safety foundation established for D-PLEX₁₀₀. PolyPid holds worldwide commercial rights to PD01B.
• PolyPid’s long-acting obesity program, PD03A, continues in early preclinical development.

“With our PDUFA goal date fast approaching, this is a defining moment for PolyPid,” said Dikla Czaczkes Akselbrad, Chief Executive Officer of PolyPid. “We have a committed partner in Azurity preparing to bring D-PLEX₁₀₀ to surgeons and patients in the U.S., subject to approval, and we now hold full rights to D-PLEX₁₀₀ in Europe. As D-PLEX₁₀₀ moves toward commercialization, we are leveraging the Kynatrix technology to strengthen our pipeline. At our recent investor day, we presented how it can reach beyond surgical site infections, starting with PD01B in diabetic foot infections, a serious condition where systemic antibiotics often fall short. We are now focused on executing our PolyPid 2030 plan, and we look forward to sharing our progress.”

Upcoming Expected Milestones:

• PDUFA goal date for the D-PLEX₁₀₀ NDA of November 28, 2026.
• Initiation of FDA communications on label expansion of D-PLEX₁₀₀ into broader abdominal surgery in the fourth quarter of 2026.
• Potential U.S. commercial launch of D-PLEX₁₀₀ by Azurity in early 2027.
• New Drug Submission for D-PLEX₁₀₀ in Canada in 2027.
• CMS decision on NTAP for D-PLEX₁₀₀ in August 2027.
• EMA decision on the D-PLEX₁₀₀ MAA in the second half of 2027.
• PD01B pre-Investigational New Drug (“IND”) meeting with the FDA and first-in-human study, both expected in the second half of 2027.

Financial Results for the Three Months Ended September 30, 2026

• Research and development expenses for the three months ended September 30, 2026, were $6.5 million, compared to $5.3 million in the same three-month period of 2025. The increase was primarily due to the ongoing NDA-related activities and continued commercial readiness preparation.
• General and administrative expenses for the three months ended September 30, 2026, were $1.5 million, compared to $1.8 million for the same period of 2025. The decrease was primarily due to the decrease of non-cash expenses related to performance-based options following the positive Phase 3 SHIELD II topline results, which triggered the vesting of those options.
• Marketing and business development expenses for the three months ended September 30, 2026, were $0.4 million, compared to $0.4 million for the same period of 2025.
• Other income for the three months ended September 30, 2026, was $2.5 million, reflecting the recognition of previously deferred revenue following the termination of the ADVANZ agreement on September 30, 2026.
• For the three months ended September 30, 2026, the Company had a net loss of $5.8 million, or $(0.24) per share, compared to a net loss of $7.5 million, or $(0.37) per share, in the three-month period ended September 30, 2025.

Financial Results for the Nine Months Ended September 30, 2026

• Research and development expenses for the nine months ended September 30, 2026, were $18.4 million, compared to $17.6 million in the same nine-month period of 2025. The increase was primarily due to the ongoing NDA-related activities and continued commercial readiness preparation.
• General and administrative expenses for the nine months ended September 30, 2026, were $4.4 million, compared to $5.4 million for the same period of 2025. The decrease was primarily due to the decrease of non-cash performance-based options vesting expenses.
• Marketing and business development expenses for the nine months ended September 30, 2026, were $1.3 million, compared to $1.4 million for the same period of 2025.
• Other income for the nine months ended September 30, 2026, was $2.5 million, as described above.
• For the nine months ended September 30, 2026, the Company had a net loss of $21.3 million, or $(0.94) per share, compared to a net loss of $25.7 million, or $(1.72) per share, in the nine-month period ended September 30, 2025.

Balance Sheet Highlights

• As of September 30, 2026, the Company had cash, cash equivalents and short-term deposits of $15.5 million, compared to $12.9 million on December 31, 2025. Following the end of the quarter, the Company received an additional $15 million milestone payment from its U.S. partner, Azurity, following the FDA’s acceptance of the D-PLEX₁₀₀ NDA, further strengthening its balance sheet.
• The Company believes that its current cash position, together with its expected proceeds from its commercialization agreement with Azurity, as well as future potential proceeds, will be sufficient to fund operations into 2028 and through several significant upcoming potential milestones.

Conference Call Dial-In & Webcast Information:

Date:	Wednesday, November 11, 2026
Time:	8:30 AM Eastern Time
Conference Call:	https://register-conf.media-server.com/register/BIa693ec3496b1413b8682b952b2ff9e10
Webcast:	https://edge.media-server.com/mmc/p/rsj3o3mw

About PolyPid
PolyPid Ltd. (Nasdaq: PYPD) is an innovative biopharmaceutical company dedicated to elevating treatment effectiveness, right where care begins. The Company develops long-acting, controlled-release drugs designed to deliver therapy precisely at the site of care, addressing critical unmet medical needs across a wide and diverse pipeline spanning surgical care, metabolic diseases, and beyond. PolyPid’s lead product, D-PLEX₁₀₀, successfully met its primary and all key secondary endpoints in the landmark Phase 3 SHIELD II trial for the prevention of surgical site infections. Guided by a commitment to precision and innovation, PolyPid is redefining how therapies perform and raise the standard of patient care. For additional Company information, please visit http://www.polypid.com and follow us on Twitter (X) and LinkedIn.

Forward-looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses the FDA’s review of the D-PLEX₁₀₀ NDA, including the PDUFA goal date, the outcome and timing of such review, the Company’s ongoing labeling discussions with the FDA, and the potential approval of D-PLEX₁₀₀; the anticipated timing of a potential U.S. commercial launch of D-PLEX₁₀₀ by Azurity and Azurity’s launch preparations; potential reimbursement for D-PLEX₁₀₀, including the anticipated timing of a CMS decision on NTAP; the timing, receipt and amount of regulatory, launch and sales-based milestone payments, transfer price payments and royalties under the Company’s agreement with Azurity; the potential label expansion of D-PLEX₁₀₀, including the planned initiation of communications with the FDA and the anticipated timing of potential label expansion; the EMA’s review of the MAA for D-PLEX₁₀₀, the anticipated timing of a decision and a potential EU launch; the Company’s plans for the commercialization of D-PLEX₁₀₀ in Europe and other territories, including potential partnerships; the planned New Drug Submission for D-PLEX₁₀₀ in Canada; the Company’s “PolyPid 2030” growth strategy; the design, development plan, regulatory pathway and anticipated timing of a pre-IND meeting and first-in-human study for PD01B, and its potential benefits; the Company’s plans to advance Kynatrix technology through additional pipeline programs, including its long-acting obesity program, PD03A, and the anticipated development and potential applications of such programs; the Company’s belief that its current cash position, together with its expected proceeds from its commercialization agreement with Azurity, as well as future potential proceeds, will be sufficient to fund operations into 2028 and through several significant upcoming potential milestones; and the therapeutic and commercial potential of D-PLEX₁₀₀. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission, including, but not limited to, the risks detailed in the Company’s Annual Report on Form 20-F filed on February 25, 2026. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. PolyPid is not responsible for the contents of third-party websites.

Company Contact:
PolyPid Ltd.
Ori Warshavsky
908-858-5995
IR@Polypid.com

Investor Relations Contact:
Arx Investor Relations
North American Equities Desk
polypid@arxhq.com

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
U.S. dollars in thousands
	September 30,				December 31,
	2026				2025
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	5,414			$	6,402
Restricted deposits		201				193
Short-term deposits		10,085				6,531
Accounts receivable		15,000				–
Pre-launch inventories		1,567				1,106
Prepaid expenses and other current assets		901				995
Total current assets		33,168				15,227
NON-CURRENT ASSETS:
Property and equipment, net		4,553				5,094
Operating lease right-of-use assets		1,181				1,675
Long-term deposits		318				311
Other long-term asset		900				–
Total non-current assets		6,952				7,080
Total assets	$	40,120			$	22,307

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
U.S. dollars in thousands (except share and per share data)
	September 30,				December 31,
	2026				2025
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Trade payables	$	1,573			$	2,856
Accrued expenses and other current liabilities		2,981				2,734
Current maturities of long-term debt		–				988
Current maturities of operating lease liabilities		1,030				1,161
Total current liabilities		5,584				7,739
NON-CURRENT LIABILITIES:
Deferred revenues		30,000				2,548
Long-term operating lease liabilities		227				647
Long-term other liabilities		408				400
Total non-current liabilities		30,635				3,595
COMMITMENTS AND CONTINGENT LIABILITIES
SHAREHOLDERS’ EQUITY:
Ordinary shares, no par value – Authorized: 107,800,000 shares at September 30, 2026 and December 31, 2025; Issued and outstanding: 21,125,704 and 18,204,002 shares at September 30, 2026 and December 31, 2025, respectively		–				–
Additional paid-in capital		326,732				312,473
Accumulated deficit		(322,831	)			(301,500	)
Total shareholders’ equity		3,901				10,973
Total liabilities and shareholders’ equity	$	40,120			$	22,307

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
U.S. dollars in thousands (except share and per share data)
	Nine Months Ended								Three Months Ended
	September 30,								September 30,
	2026				2025				2026				2025
Operating expenses:
Research and development	$	18,404			$	17,589			$	6,523			$	5,257
Marketing and business development		1,291				1,421				418				432
General and administrative		4,384				5,427				1,529				1,766
Other income		(2,548	)			–				(2,548	)			–
Operating loss		21,531				24,437				5,922				7,455
Loss on extinguishment of debt		–				512				–				–
Financial expense (income), net		(208	)			661				(170	)			(26	)
Loss before income tax		21,323				25,610				5,752				7,429
Income tax expenses		8				86				2				22
Net loss	$	21,331			$	25,696			$	5,754			$	7,451
Basic and diluted loss per ordinary share	$	0.94			$	1.72			$	0.24			$	0.37
Weighted average number of ordinary shares used in computing basic and diluted loss per share		22,751,434				14,920,521				23,677,711				20,054,071

Merlin was awarded a contract that funds the challenge to demonstrate a mature solution that addresses AFRICOM’s casualty evacuation gap

BOSTON, Nov. 11, 2026 (GLOBE NEWSWIRE) — Merlin, Inc., an aerospace and defense technology company building the operating system of record for autonomous flight, today announced it has been awarded a U.S. Africa Command (AFRICOM) contract to demonstrate capability in the initial phase of its Autonomous Casualty Evacuation (CASEVAC) Industry Technology Challenge. Merlin received a $500,000 contract, which will fund a demonstration of Merlin Pilot™ autonomously executing a CASEVAC mission using a Cessna 208B Grand Caravan. Planned for early U.S. government fiscal year 2027 in Morocco, the demonstration will encompass the full mission, from initial tasking and flight planning continuing through autonomous departure and enroute flight to an austere casualty collection site. Following simulated patient loading, the aircraft will conduct its return mission, autonomously completing the flight and landing back at the designated location.

AFRICOM’s area of responsibility spans vast distances, and security threats can prevent access to nearby medical facilities, often forcing longer and more dangerous patient transport. In these conditions, transporting a wounded noncombatant or service member to medical care is both time-critical and logistically complex. Conventional casualty evacuation relies on crewed aircraft, while remotely piloted systems require persistent command-and-control links that may be unavailable in austere or contested environments. The challenge set forth by AFRICOM seeks autonomous solutions that can accelerate access to a higher level of care while reducing the number of personnel exposed to risk. 

Merlin’s demonstration is planned to show how Merlin Pilot can bring onboard autonomy to aircraft supporting CASEVAC missions, managing flight planning, navigation, contingency response and mission completion without relying on a remote ground station or flight crew. The system is designed to plan the optimal route from an operator’s tasking, replan dynamically around hazards, communicate with air traffic control using natural language processing, and continue safely along its authorized plan if a communications link is lost. The aircraft’s large cargo door and flat-floor cabin will allow ground level litter loading without rotor wash, winching or special equipment, and its cabin will be configured with an air ambulance medical module providing oxygen, power, and mounting for patient monitoring equipment.

“Casualty evacuation is ultimately about getting wounded noncombatants and service members to surgical care as quickly and safely as possible: a mission made more difficult by long distances and unreliable communications. Onboard autonomy could help overcome those constraints by accomplishing the CASEVAC mission from end to end, even when communications are disrupted,” said Matt George, CEO and founder, Merlin. 

Merlin Pilot’s aircraft-agnostic architecture is designed to allow its autonomous capabilities to be extended across airframes. Merlin believes there is a clear follow-on path to operational scale using a King Air variant, which would provide twin-engine redundancy, greater payload capacity, and additional cabin space for multiple litter patients, medical equipment, and an in-flight attendant. The same architecture could also support autonomous logistics and personnel movement across dispersed operating locations.

This demonstration builds on Merlin’s work on Department of War autonomy programs, including its C-130J program with U.S. Special Operations Command. Merlin Pilot has completed hundreds of autonomous flights across multiple fixed-wing aircraft, including a recent flight demonstration at Alliance Airport as part of the kickoff event for the Texas Department of Transportation’s (TxDOT) Electric Vertical Takeoff and Landing (eVTOL) Integration Pilot Program (eIPP). The flight demonstration was witnessed by the Secretary of Transportation Sean Duffy and Senate Commerce Committee Chairman Ted Cruz, along with many senior transportation and congressional leaders at the federal and state level.

About Merlin
Merlin is an aerospace and defense technology company building the operating system of record for autonomous flight. Through a first-principles approach, the company is redefining what’s possible across aviation, aerospace, and defense with the goal of delivering full-stack autonomy for any aircraft, military or civilian, from takeoff to touchdown. The Merlin Pilot system powers a growing range of aircraft and mission profiles, proven through hundreds of autonomous flights from test facilities across the globe. With $100M+ total in IDIQ contract ceiling value under its C-130J autonomy program with USSOCOM, Merlin is advancing American leadership in autonomous aviation. To learn more, visit www.merlinlabs.com or follow us on X @merlinaero.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact should be considered forward-looking statements, including without limitation statements regarding the timing, location, and scope of the planned AFRICOM demonstration; the ability of the Merlin Pilot system to complete autonomous CASEVAC missions; Merlin’s expectations regarding potential follow-on opportunities, or expansion of its relationship with AFRICOM or other government customers; the potential extension of Merlin Pilot’s autonomous capabilities to additional aircraft platforms; and the potential future applications of Merlin’s technology across other combatant commands, allied forces, civil operators, and disaster response or medical transport missions. These forward-looking statements are based on our current expectations, assumptions, and projections about future events and trends. These forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation the risks and uncertainties detailed under the section entitled “Risk Factors”; of our final prospectus, dated May 13, 2026, filed with the SEC on May 13, 2026, and in our Quarterly Reports on Form 10-Q filed with the SEC. Except as required by applicable law, we undertake no obligation to update any of these forward-looking statements after the date of this press release.

Media Contact
Kristen Georgette
merlin@pluckpr.com
617-842-6064

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/91e87bc3-aae5-4389-88bf-8942ad64a2ac

PALO ALTO, Calif., Nov. 11, 2026 (GLOBE NEWSWIRE) — BridgeBio Pharma, Inc. (Nasdaq: BBIO) (“BridgeBio” or the “Company”), a commercial-stage, multi-product biopharmaceutical company focused on developing medicines for genetic conditions, announced 28 abstracts on acoramidis in individuals with transthyretin amyloid cardiomyopathy (ATTR-CM) comprised of 12 new posters, seven encore poster presentations, and nine encore posters, will be shared at the XX International Symposium on Amyloidosis (ISA) 2026, taking place November 15-18, 2026, in Montevideo, Uruguay. The data further strengthen the differentiated clinical profile of acoramidis, reinforcing it as the first-line treatment of choice for individuals with ATTR-CM. Acoramidis is the only selective small molecule, orally administered, near-complete (≥90%) transthyretin (TTR) stabilizer.

Bayer, BridgeBio’s exclusive European licensing partner of acoramidis, will share five new presentations, including new real-world data from Germany comparing acoramidis with tafamidis on oral diuretic intensification, a marker of outpatient worsening heart failure.

Acoramidis is approved as Attruby® by the U.S. FDA and the Singapore Health Sciences Authority (HSA) and is approved as BEYONTTRA® by the European Medicines Agency (EMA), Japanese Pharmaceuticals and Medical Devices Agency, Swissmedic, the Swiss Agency for Therapeutic Products, the UK Medicines and Healthcare Products Regulatory Agency, the Brazilian Health Regulatory Agency (ANVISA), and the Australian Therapeutic Goods Administration (TGA) with all labels specifying near-complete stabilization of TTR.

New Posters:
Safety and Efficacy of Acoramidis in Patients with Transthyretin Amyloid Cardiomyopathy (ATTR-CM) and CKD Stage 4: Insights from the ATTRibute-CM Trial
Presenter: Prem Soman, M.D., University of Pittsburgh Medical Center, U.S.
Date/time: Monday, November 16 at 10:35 am UYT

Effect of Background RAAS Inhibitor Use on Cardiorenal Function and Clinical Outcomes with Acoramidis in Transthyretin Amyloid Cardiomyopathy (ATTR-CM): Insights from ATTRibute-CM
Presenter: Prem Soman, M.D., University of Pittsburgh Medical Center, U.S.
Date/time: Monday, November 16 at 10:35 am UYT

eGFR Dip After Acoramidis Initiation and Acoramidis-Associated Clinical Benefits in Patients with Transthyretin Amyloid Cardiomyopathy (ATTR-CM) With and Without Atrial Fibrillation: Findings from the ATTRibute-CM Trial
Presenter: Daniel P. Judge, M.D., Medical University of South Carolina, U.S.
Date/time: Tuesday, November 17 at 11:00 am UYT

eGFR Dip After Acoramidis Initiation and Acoramidis-Associated Clinical Benefits in Patients with Wild-Type and Variant Transthyretin Amyloid Cardiomyopathy (ATTR-CM): Findings from the ATTRibute-CM Trial
Presenter: Kevin M. Alexander, M.D., Stanford University School of Medicine, U.S.
Date/time: Monday, November 16 at 10:35 am UYT

eGFR Dip After Acoramidis Initiation and Acoramidis-Associated Clinical Benefits in Patients with Transthyretin Amyloid Cardiomyopathy (ATTR-CM) With and Without Diabetes: Findings from the ATTRibute-CM Trial
Presenter: Margot K. Davis, M.D., Division of Cardiology, University of British Columbia, CA
Date/time: Wednesday, November 18 at 10:00 am UYT

Early eGFR Dip Following Acoramidis Initiation in Transthyretin Amyloid Cardiomyopathy (ATTR-CM) Is Not Accompanied by Clinically Meaningful Changes in Laboratory Measures or Blood Pressure: An ATTRibute-CM Analysis
Presenter: Julian D. Gillmore, M.D., Ph.D., University College London, Royal Free London Hospital, UK
Date/time: Wednesday, November 18 at 10:00 am UYT

Acoramidis Versus Tafamidis in Transthyretin Amyloid Cardiomyopathy: Real-World Evidence of Lower Transthyretin Silencer Therapy Initiation With Acoramidis
Presenter: Richard F. Wright, M.D., Pacific Heart Institute, U.S.
Date/time: Wednesday, November 18 at 10:00 am UYT

Treatment Patterns in Newly Diagnosed Patients with Transthyretin Amyloid Cardiomyopathy in the United States: Results from a Real-World Study Show Transthyretin Stabilizers Are the Predominant First-Line Treatment
Presenter: Liana Hennum, M.P.T., M.H.A., BridgeBio, U.S.
Date/time: Wednesday, November 18 at 10:00 am UYT

Early Reduction of Heart Failure Events with Acoramidis: A Time-to-Benefit Analysis of ATTRibute-CM
Presenter: Thibaud Damy, M.D., Assistance Publique-Hôpitaux de Paris (AP-HP), Université Paris Sud, FR
Date/time: Wednesday, November 18 at 10:00 am UYT

An Indirect Comparison of the Efficacy of Acoramidis and Tafamidis on Cardiovascular Outcomes and Mortality in Transthyretin Amyloid Cardiomyopathy (ATTR-CM): Results from an Anchored Matching-Adjusted Analysis of ATTRibute-CM and ATTR-ACT
Presenter: Kevin M. Alexander, M.D., Stanford University School of Medicine, U.S.
Date/time: Tuesday, November 17 at 11:00 am UYT

eGFR Dip Thresholds and Clinical Outcomes with Acoramidis: A Sensitivity Analysis from ATTRibute-CM
Presenter: Daniel P. Judge, M.D., Medical University of South Carolina, U.S.
Date/time: Tuesday, November 17 at 11:00 am UYT

Treatment Patterns and Clinical Phenotypes in a National VA ATTR-CM Cohort Across Diagnostic and Therapeutic Eras
Presenter: Sandesh Dev, M.D., Southern Arizona Veterans Affairs Health Care System, U.S.
Date/time: Tuesday, November 17 at 11:00 am UYT

Encore Poster Presentations:
Acoramidis Reduces Days Lost to Death and/or Cardiovascular-Related Hospitalization, Preserving Time Alive Outside the Hospital in Patients With Transthyretin Amyloid Cardiomyopathy: Results From ATTRibute-CM
Presenter: Richard F. Wright, M.D., Pacific Heart Institute, U.S.
Date/time: Monday, November 16 at 10:35 am UYT

Long-Term Effects of Acoramidis on Mortality in Variant Transthyretin Amyloid Cardiomyopathy, Including p.Val142Ile: Findings From the Open-Label Extension of ATTRibute-CM
Presenter: Frederick L. Ruberg, M.D., Boston University Chobanian & Avedisian School of Medicine, Boston Medical Center, U.S.
Date/time: Monday, November 16 at 10:43 am UYT

eGFR Dips After Acoramidis Initiation Are Associated With Clinical Benefits in Patients With Transthyretin Amyloid Cardiomyopathy (ATTR-CM): Findings From the ATTRibute-CM Trial
Presenter: Daniel P. Judge, M.D., Medical University of South Carolina, U.S.
Date/time: Monday, November 16 at 10:51 am UYT

Protective Effect of Acoramidis on Kidney Function in Participants With Transthyretin Amyloid Cardiomyopathy (ATTR-CM): Findings From ATTRibute-CM and its Open-Label Extension Study
Presenter: Daniel P. Judge, M.D., Medical University of South Carolina, U.S.
Date/time: Monday, November 16 at 10:55 am UYT

Serum Transthyretin to NT-proBNP Ratio as a Novel Prognostic Measure in Transthyretin Amyloid Cardiomyopathy: Insights From the ATTRibute-CM Trial
Presenter: Hanna K. Gaggin, M.D., Massachusetts General Hospital, U.S.
Date/time: Tuesday, November 17 at 11:12 am UYT

A Validated Transthyretin Amyloid Cardiomyopathy (ATTR-CM) United States (US) Claims-Based Coding Algorithm (ValidATTR-US)
Presenter: John Isaiah Jimenez, Stanford University School of Medicine, U.S.
Date/time: Tuesday, November 17 at 3:00 pm UYT

Real-World Comparative Effectiveness Study of Acoramidis Versus Tafamidis in Transthyretin Amyloid Cardiomyopathy Using the Epic COSMOS Data Platform
Presenter: Shana Littleton, PhD, Center for Individualized and Genomic Medicine Research, U.S.
Date/time: Wednesday, November 18 at 10:16 am UYT

Encore Posters:
Falls and Fractures Drive Increased Hospitalizations and Costs in Patients with Transthyretin Amyloid Cardiomyopathy Compared with Controls
Presenter: Liana Hennum, M.P.T., M.H.A., BridgeBio, U.S.
Date/time: Monday, November 16 at 10:35 am UYT

NT-proBNP and Serum Transthyretin and Their Relationship with Clinical Outcomes in Transthyretin Amyloid Cardiomyopathy: Results from ATTRibute-CM
Presenter: Onyedika J. Ilonze, M.D., Indiana University School of Medicine, U.S.
Date/time: Monday, November 16 at 10:35 am UYT

Effect of Acoramidis on the Temporal Variability of Serum Transthyretin and its Influence on Outcomes: Insights from the ATTRibute-CM Trial
Presenter: Prem Soman, M.D., University of Pittsburgh Medical Center, U.S.
Date/time: Monday, November 16 at 10:35 am UYT

Long-Term Improvement in Myocardial Structure and Function in Patients with Transthyretin Amyloid Cardiomyopathy (ATTR-CM) Treated with Acoramidis Compared with a Natural History Cohort
Presenter: Awais Sheikh, MBChB, National Amyloidosis Centre, University College London, Royal Free London Hospital, UK
Date/time: Monday, November 16 at 10:35 am UYT

Recovery of NT-proBNP Concentrations and Heart Failure-Related Health Status After Cardiovascular-Related Hospitalization in Transthyretin Amyloid Cardiomyopathy (ATTR-CM): Insights from ATTRibute-CM
Presenter: Prem Soman, M.D., University of Pittsburgh Medical Center, U.S.
Date/time: Monday, November 16 at 10:35 am UYT

Acoramidis Versus Tafamidis in Transthyretin Amyloid Cardiomyopathy: Early Real-World Evidence Favors Acoramidis
Presenter: Richard F. Wright, M.D., Pacific Heart Institute, U.S.
Date/time: Tuesday, November 17 at 11:00 am UYT

Budget Impact of Adding Acoramidis to Formulary for the Treatment of Transthyretin Amyloid Cardiomyopathy: A United States Health Plan Analysis
Presenter: Liana Hennum, M.P.T., M.H.A., BridgeBio, U.S.
Date/time: Tuesday, November 17 at 11:00 am UYT

Risk of Multiple Cardiovascular-Related Hospitalizations and of All-Cause Mortality in Transthyretin Amyloid Cardiomyopathy (ATTR-CM): Findings from ATTRibute-CM Using Multistate Modeling
Presenter: Kevin M. Alexander, M.D., Stanford University School of Medicine, U.S.
Date/time: Wednesday, November 18 at 10:00 am UYT

Acoramidis Reduces Risk of Cardiovascular-Related Mortality and Hospitalization in Female Patients with Transthyretin Amyloid Cardiomyopathy
Presenter: Margot K. Davis, M.D., Division of Cardiology, University of British Columbia, CA
Date/time: Wednesday, November 18 at 10:00 am UYT

New Bayer-Led Poster:
Oral Diuretic Intensification in Real-World ATTR-CM Patients on TTR Stabilizing Therapy: The mODIficATTR Study
Presenter: Roman Pfister, M.D., University Hospital Cologne, DE
Date/time: Tuesday, November 17 at 11:00 am UYT

About Attruby® (acoramidis)
INDICATION
Attruby is a transthyretin stabilizer indicated for the treatment of the cardiomyopathy of wild-type or variant transthyretin-mediated amyloidosis (ATTR-CM) in adults to reduce cardiovascular death and cardiovascular-related hospitalization.

IMPORTANT SAFETY INFORMATION
Adverse Reactions
Diarrhea (11.6% vs 7.6%) and upper abdominal pain (5.5% vs 1.4%) were reported in patients treated with Attruby versus placebo, respectively. The majority of these adverse reactions were mild and resolved without drug discontinuation. Discontinuation rates due to adverse events were similar between patients treated with Attruby versus placebo (9.3% and 8.5%, respectively).

About BridgeBio
BridgeBio exists to develop transformative medicines for genetic conditions. Millions of people worldwide living with genetic conditions lack treatment options, often because drug development for small patient populations can be commercially challenging. We aim to bridge the gap between advancements in genetic science and meaningful medicines for underserved patient populations. Our decentralized, hub-and-spoke model is designed for speed, precision, and scalability. Autonomous and empowered teams focus on individual conditions, while a central hub provides the clinical, regulatory, and commercial capabilities needed to bring innovation to market. For more information, visit bridgebio.com and follow us on LinkedIn, X, Facebook, Instagram, YouTube, and TikTok.

BridgeBio Media Contact:
Kaitlyn Reilly, Director, Communications
contact@bridgebio.com
(650) 789-8220

BridgeBio Investor Contact:
BridgeBio Investor Relations
ir@bridgebio.com

SOUTH SAN FRANCISCO, Calif., Nov. 11, 2026 (GLOBE NEWSWIRE) — Lycia Therapeutics, Inc. (Nasdaq: LYCA), a clinical-stage biotechnology company focused on the discovery and development of novel therapeutics designed to degrade disease-causing extracellular proteins, with an initial focus on addressing autoimmune, inflammatory and allergic diseases, today announced that Aetna Wun Trombley, president and chief executive officer of Lycia, will present at the 2026 Jefferies Global Healthcare Conference in London on Wednesday, November 18, 2026, at 3:00 p.m. GMT.

A live webcast of the presentation may be accessed in the Investors section of the Lycia Therapeutics website at ir.lyciatx.com. A replay of the webcast will be available for approximately 60 days following the presentation.

About Lycia Therapeutics
Lycia Therapeutics is a clinical-stage biotechnology company focused on the discovery and development of novel therapeutics designed to degrade disease-causing extracellular proteins, with an initial focus on addressing autoimmune, inflammatory and allergic diseases. The company has advanced its proprietary LYTAC (Lysosomal Targeting Chimera) platform to generate cataLYTAC^TM degraders, which are designed for repeated catalytic elimination of disease-causing proteins. The company’s lead candidates include LCA-0061, a cataLYTAC^TM degrader of IgE for food allergy and other allergic diseases, and LCA-0321, a LYTAC degrader designed to selectively deplete the autoantibodies that cause Graves’ disease.

Lycia, headquartered in South San Francisco, was founded on the transformational work of Nobel laureate Carolyn Bertozzi, Ph.D., professor of chemistry and HHMI investigator at Stanford University.

For more information, please visit www.lyciatx.com and follow us on LinkedIn.

Investor Contact:
Amy Bachrodt, Lycia Therapeutics
abachrodt@lyciatx.com

Media Contact:
Jennifer Price, The Grace Group
jenprice@gracegroup.us

The Company has more than doubled revenue from innovative medicines since launching Pivot to Growth in 2023, demonstrating sustained execution and the growing strength of its high-velocity biopharma model

A live webcast of the event and presentation materials will be available on Teva’s Investor Relations website at Events and Presentations, with the webcast beginning at 8:30 a.m. EST today and concluding at 12:30 p.m. EST.

A dedicated media Q&A with Teva leadership will follow the webcast. The session is intended for members of the media, who can register to participate here.

TEL AVIV, Israel and PARSIPPANY, N.J., Nov. 11, 2026 (GLOBE NEWSWIRE) —  Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) today will host its first-ever R&D Day, outlining the next phase of the company’s growth and its ambition to generate $6–7 billion in innovative medicines revenue by 2030. President and CEO Richard Francis, together with members of Teva’s executive leadership and R&D teams, will highlight Teva’s advancing pipeline, differentiated R&D model and the potential to launch one innovative medicine per year over the next five years.

“With our Pivot to Growth strategy, we set out to transform Teva,” said Richard Francis, Teva’s President and CEO. “Since then, we have more than doubled our innovative medicines revenue, built a pipeline with more than $10 billion in peak sales potential, and returned to investment grade. We’ve made meaningful progress, driven by teams that are bringing together the speed and agility of a biotech with the scale and capabilities of a global biopharmaceutical company. Our R&D engine and commercial excellence are designed to translate proven science into new medicines, with the potential for one new launch annually through 2030, driving revenue growth, margin expansion and strong cash generation.”

Teva will provide updates on its differentiated R&D approach, late-stage growth drivers and early-stage pipeline assets, in-house antibody discovery capabilities, as well as its commercial and financial capabilities to support its upcoming next wave of innovation and longer-term shareholder value creation. The next wave of growth drivers supporting Teva’s growth ambition beyond 2030:

• Anti-IL-15: Phase 2a study in Celiac disease met its primary endpoint, with a Phase 2b study expected to begin in the second half of 2027. In vitiligo, TEV-’408 is advancing into a Phase 2/3 study building on encouraging Phase 1b results. Teva is also evaluating the potential of TEV-’408 in additional indications, including alopecia.
• Anti-PD-1/IL-2 ATTENUKINE™: The investigational asset is currently in Phase 1 development in advanced cancer, with early efficacy signals and a favorable safety profile observed to date.
• Next Generation antibodies: Teva is advancing its early-stage pipeline with next-generation precision antibodies, including anti-TSLP/IL-13 and anti-TL1A/IL-23, applying its antibody-engineering capabilities and understanding of disease biology with a potential to build potential new treatments in in asthma and inflammatory bowel disease.

The presentation is grounded in the fundamentals that enable Teva’s journey:

• Differentiated R&D approach: Focuses on proven science from internal or external sources enabling accelerated development. This aims to build assets with best-in-class potential, including a late-stage pipeline with a potential of more than $10 billion in combined peak sales, subject to regulatory approvals.
• Disciplined decision-making and capital allocation: Fast, data-driven decisions and allocating capital into high-return opportunities. Its targeted and strategic partnerships allow it to expand and accelerate its pipeline.
• Strong commercial capabilities: Deep patient and healthcare understanding, strong analytics and access experience, combined with expertise to drive launch excellence, build markets and help innovative medicines reach the patients who need them.
• Financial strength and capital allocation: In 2026, Teva has returned to an investment grade credit rating. Its disciplined and focused reinvestment funds the pipeline, launches and business development in areas of focus, to continue to create shareholder value.

This approach has already accelerated timelines across our late-stage pipeline, including WELTRUZA^TM going directly from Phase 1 into Phase 3, ecopipam receiving FDA priority review and advancing anti IL-15 in vitiligo as a seamless Phase 2/3 program later this year.

A biopharma company, by the numbers
Since launching its Pivot to Growth strategy in 2023, Teva has delivered on the commitments with Teva’s revenue from innovative medicines more than doubling, with its three key innovative products AUSTEDO^® (deutetrabenazine) AJOVY^® (fremanezumab-vfrm) and UZEDY^® (risperidone) expected to grow more than ~125% by the end of 2026. In addition, Teva has recently launched WELTRUZA™ (olanzapine).

Innovative medicines now make up more than 20% of Teva’s revenue, gross margin has improved to ~55%¹, and Teva has seven late-stage pipeline assets with high-value potential. The innovative pipeline has grown to ten programs, including two clinical antibodies discovered in-house. Teva’s generics business has been stabilized in recent years, its revenue from biosimilars is expected to double from 2024 to 2026, and Teva has generated more than $6 billion in free cash flow from 2023 to 2025. Teva’s return to investment grade credit ranking provides Teva the financial foundation to fund Teva’s next phase.

Financial outlook through 2030:

• Innovative revenue potential of $6–7 billion by 2030
• Innovative gross margins target of above 75%, with the mix shift driving margin expansion
• Total revenue: mid-single-digit growth from 2026 to 2030
• Free cash flow target of more than $3.5 billion by 2030
• Leverage: a clear path to net debt to adjusted EBITDA of 2.0x by the end of 2027
• Capital allocation: a disciplined framework funds the pipeline, launches and business development, along with shareholder returns

Presenters include:

• Richard Francis, President and Chief Executive Officer
• Eric Hughes, MD, PhD, EVP, Global R&D and Chief Medical Officer
• Steffen Nock, PhD, Chief Scientific Officer and Head of Global Discovery and Human Translational Science
• David Gardiner, MD, SVP, Head of Innovative Medicines and Clinical Development
• Chris Fox, EVP, U.S. Commercial and Global Innovative Medicines
• Eli Kalif, EVP, Chief Financial Officer

Webcast and materials
A live webcast and the presentation materials will be available on Teva’s Investor Relations website at ir.tevapharm.com/Events-and-Presentations. An archived version will be posted within 24 hours of the event. An interactive digital magazine and press kit is available on tevapharm.com.

Pipeline products are investigational and subject to clinical development and regulatory approval. Peak sales figures are non-risk-adjusted and indicative. Financial measures other than revenue are non-GAAP.

About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is a global biopharmaceutical company, enabled by a world-class generics business. For over 120 years, Teva’s commitment to bettering health has never wavered. From innovating in the fields of neuroscience and immunology to providing complex generic medicines, biosimilars, and pharmacy brands worldwide, Teva is dedicated to addressing patients’ needs, now and in the future. At Teva, We Are All In For Better Health. To learn more about how, visit www.tevapharm.com.

Teva Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our ability to become a high-velocity biopharmaceutical company and to achieve the potential revenue growth from innovative medicines; our ability to deliver on the ambitions and targets for the development of our pipeline assets; our ability to achieve the financial targets for 2030 included in this press release and in the R&D Day presentation; our ability to successfully compete in the marketplace, including our ability to develop and commercialize additional pharmaceutical products; our ability to successfully execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development, and to sustain and focus our portfolio of generic medicines and to execute on our organizational transformation and to achieve expected cost savings; our significant indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments, and our potential need to raise additional funds in the future, which may not be available on acceptable terms or at all; our business and operations in general, including: the impact of global geopolitical, economic conditions and other macroeconomic developments and the governmental and societal responses thereto, and our exposure to changes in international trade policies; and other factors discussed in our Quarterly Report on Form 10-Q for the third quarter of 2026 and in our Annual Report on Form 10-K for the year ending December 31, 2025, including in the sections captioned “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.

Non-GAAP Financial Measures
This press release includes certain non-GAAP financial measures as defined by SEC rules. These non-GAAP financial measures, including, but not limited to, non-GAAP operating margin, non-GAAP gross profit margin, adjusted EBITDA and free cash flow, are presented in order to facilitate investors’ understanding of our business. Please see our press release reporting our financial results for the third quarter of 2026, as well as our latest Annual Report on Form 10-K filed with the SEC, for a reconciliation of the non-GAAP financial measures to their nearest GAAP equivalents. Management believes that such non-GAAP financial measures provide useful information to investors to facilitate their understanding of our business because the non-GAAP financial measures are used by Teva’s management and board of directors, in conjunction with other performance metrics, to evaluate the operational performance of the company, to compare our results against the company’s work plans and budgets, and ultimately to evaluate the performance of management; the company’s annual budgets are prepared on a non-GAAP basis; and senior management’s annual compensation is derived, in part, using non-GAAP measures. Investors should consider the non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. We are not providing the most comparable forward-looking GAAP measures for non-GAAP metrics included in our financial outlook or a quantitative reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP measures because we are unable to predict with reasonable certainty the ultimate outcome of certain significant items including, but not limited to, the amortization of purchased intangible assets, legal settlements and loss contingencies, impairment of long-lived assets and goodwill impairment, without unreasonable effort. These items are uncertain, depend on various factors, and could be material to our results computed in accordance with GAAP. Revenues and CAPEX are presented on a GAAP basis.

Teva Media Inquiries: TevaCommunicationsNorthAmerica@tevapharm.com
Teva Investor Relations Inquiries: TevaIR@Tevapharm.com

¹ As of Q3 2026

New drilling from the Rainbow Decline marks a major milestone in the Company’s underground exploration strategy

BUTTE, Mont., Nov. 11, 2026 (GLOBE NEWSWIRE) — Silver Bow Mining Corp. (NYSE American: SBMT) (“Silver Bow Mining” or the “Company”) is pleased to announce the commencement of underground diamond drilling at its flagship Rainbow Block Project in Butte, Montana.

Drilling from the Company’s newly constructed Rainbow Decline is the first underground exploration drilling in the historic Butte Mining District in more than three decades and advances the Company’s plans to re-establish and expand underground activities at the Rainbow Block and systematically evaluate the extensive mineralized vein systems.

Highlights

• Historic return to underground drilling: First underground exploration drilling in the Butte Mining District in more than three decades.
• New Rainbow Decline drill station: Drilling has commenced from an underground drill station in the Rainbow Decline at the 6,210-foot elevation.
• Follow-up of recent high-grade discoveries: Initial drilling will target multiple mineralized vein systems, including the Badger and Emily veins, where recent surface drilling has identified high-grade mineralization.
• Planned underground drilling program: The Company plans to expand its underground exploration activities with 30,000 feet of drilling from the Rainbow and Chief Joseph declines during the remainder of 2026 and 2027.
• Resource expansion and upgrading: The initial underground drill station is positioned to target extensions of twelve mineralized veins beyond the current Rainbow Block Mineral Resource estimate. The program is designed to support potential resource expansion and upgrading while providing additional geological information to guide future exploration and, if warranted, underground development planning.

The initial drill station is located approximately 285 feet (87 meters) down the new Rainbow Decline from the portal. Drilling is being conducted by NISS Drilling using a KMN1.4 electric underground diamond core drill. The program will initially focus on multiple mineralized vein systems (see Figure 1), including follow-up drilling on the Badger and Emily veins, where the Company’s 2026 surface drilling program has returned numerous intercepts of high-grade silver-gold-zinc-lead mineralization, along with other notable Critical Minerals.

3D Models of the Rainbow Block Underground with Mineralized Vein System

Figure 1a and 1b: Plan and Oblique view, respectively, show the initial Rainbow Decline (blue) underground drill station with the green lines representing proposed diamond drill hole traces. Red – Modelled Vein Systems, Yellow – Current Inferred Mineral Resource.

Travis Naugle, Chairman and Chief Executive Officer, stated, “In my career, I have never seen a setup like this: from a single underground station, we can drill in virtually every direction to test twelve separate vein targets, each an extension beyond our current Mineral Resource estimate. With high-grade results from numerous veins already in hand from this year’s surface program, we are doing what we committed to do: following up from underground, seeking to advance growth in the Rainbow Block Mineral Resource and evaluating the project’s future development potential.”

Advancing Silver Bow Mining’s Underground Development Strategy

The commencement of underground drilling follows a series of developments in 2026 aimed at re-establishing underground exploration in the historic Butte Mining District. In May, the Company initiated rehabilitation of the Chief Joseph Portal and decline and received authorization from the Montana Department of Environmental Quality for the new Rainbow Decline, including approximately 6,000 feet of planned underground development intended to connect with the existing Lexington Tunnel level. By August, underground access through the Chief Joseph Portal had been restored and preparations for the new Rainbow Portal were underway.

With drilling now underway from the Rainbow Decline, the Company has progressed from establishing underground infrastructure to actively exploring the Rainbow Block’s extensive mineralized vein systems. The Rainbow and Chief Joseph declines are expected to provide complementary drilling platforms, with additional drill stations established as underground development advances.

Drilling from underground offers several advantages over surface drilling, including improved drilling orientations, shorter drill holes to certain targets and greater flexibility to test the continuity and extensions of mineralized veins. These advantages are expected to support more efficient resource definition and expansion drilling as the program progresses.

Underground Drilling to Follow Up on Recent High-Grade Results

The Company’s underground exploration plan contemplates approximately 30,000 feet of diamond drilling through the end of 2027, principally focused on resource expansion and upgrading. The initial program will target multiple mineralized vein systems from the first Rainbow Decline drill station including the State, Badger, Edith May and Auraria veins to the south and, to the north, the Jessie, Rainbow Splay, Alice, Emily, Emily High-Grade, Rainbow, Boston and Jersey Blue veins.

The program will include follow-up drilling on the Badger and Emily veins, where recent surface exploration has identified encouraging high-grade mineralization outside of Silver Bow Mining’s current Inferred Mineral Resource.

On September 1, 2026, the Company reported an intersection in the Badger Vein of 4.0 meters grading 994.2 grams per tonne (“g/t”) silver equivalent (AgEq) (13.1 ft @ 29 opt AgEq), including 2.3 meters grading 1,586.1 g/t AgEq (7.4 ft @ 46.26 opt AgEq), from drill hole SBM26-03.

On November 5, 2026, the Company reported an intersection in the Emily Vein of 11.2 meters grading 312.7 g/t AgEq (36.8 ft @ 9.12 opt AgEq), including 3.6 meters grading 462.7 g/t AgEq (12.1 ft @ 13.49 opt AgEq), from drill hole SBM26-08.

These results highlight the exploration potential of the Rainbow Block’s multiple mineralized vein systems and provide important targets for follow-up underground drilling.

Phillip Nickerson, PhD, CPG, Vice President of Exploration, noted: “The extensive network of mineralized veins at our Rainbow Block Project creates opportunities that can be more effectively tested from underground drill stations, where we can position drill holes to better intersect targeted structures and assess their geometry and continuity.”

“Our recent surface drilling successes in the Badger and Emily veins provide compelling follow-up targets for this initial underground program, while the configuration of the new drill station allows us to test numerous additional vein systems from a single underground location. As we establish additional stations, we intend to expand our ability to investigate these mineralized structures and support our mineral resource expansion and upgrading objectives. We anticipate results from the underground drilling program will be integrated with surface exploration data and our geological models to refine target priorities, support future resource evaluations and guide ongoing underground exploration and, if warranted, development planning.”

Technical Disclosure

Silver Equivalent Calculation: AgEq grades quoted in this news release use metal prices and estimated recovery assumptions consistent with the Company’s current Mineral Resource estimate. The following metal prices were used: silver – $25.00/oz; gold – $2,500/oz; zinc – $1.31/lb; and lead – $0.90/lb. Estimated metallurgical recoveries of 90% were applied to each metal included in the calculation. Indium is reported but is not included in the AgEq calculation. 

AgEq is calculated by determining the per-ton in-situ value of silver, gold, zinc and lead, applying the respective estimated metallurgical recovery to each metal, summing the resulting values and dividing the total by the silver price adjusted by the estimated silver recovery.

The metallurgical recovery assumptions used in the AgEq calculation are consistent with those used in the current Rainbow Block Mineral Resource estimate. Actual metallurgical recoveries have not been established for the specific mineralized intervals reported in this release and may differ from the assumptions used. 

Qualified Person: The scientific and technical information contained in this news release has been reviewed and approved by Phillip Nickerson, PhD, CPG, Vice President of Exploration of Silver Bow Mining Corp., who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and a “Qualified Person” as defined by Subpart 1300 of Regulation S-K of the U.S. Securities and Exchange Commission. 

About Silver Bow Mining Corp.

Silver Bow Mining Corp. is a minerals exploration company advancing its Butte Project, including the Rainbow Block, located in the Butte Mining District of Montana. The Company is targeting a broad suite of U.S.-designated Critical Minerals, including silver, copper, zinc, lead, manganese, germanium, gallium, antimony, bismuth and indium, alongside gold. The Company holds approximately 4,210 acres of patented mineral claims and approximately 1,427 acres of surface lands across multiple claim blocks in this historically prolific district, including the flagship Rainbow Block.

On Behalf of Silver Bow Mining Corp.,
Travis Naugle
Chairman and Chief Executive Officer

For further information, contact Investor Relations at:
Email: ir@silverbowmining.com

Cautionary Note on Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable U.S. securities laws, including the U.S. Securities Act of 1933, as amended, and the U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”).

All statements other than statements of historical fact that address activities, events or developments that Silver Bow Mining Corp. (the “Company”) expects or anticipates will or may occur in the future are forward-looking statements. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “project,” “target,” “will,” “could,” “should” and similar expressions often, but not always, identify forward-looking statements.

Forward-looking statements in this news release include statements regarding the continuation, expansion, scope, timing and objectives of underground exploration and development activities at the Rainbow Block; the proposed establishment of additional underground drill stations; planned drilling from the Rainbow and Chief Joseph declines; the anticipated benefits of underground access and drilling; the ability to follow up on recent high-grade intersections and test additional mineralized vein systems; the potential continuity, geometry, extent and grade of mineralization; the use of exploration results and geological models to guide future activities; and the potential for exploration results to support future expansion or upgrading of the Rainbow Block Mineral Resource estimate.

These forward-looking statements are based on the Company’s current expectations, estimates, interpretations and assumptions, including assumptions regarding the availability of sufficient financing and future budget approvals; the availability of qualified personnel, equipment, contractors and services; continued access to the project and maintenance of required permits and property rights; suitable underground development and operating conditions; the ability to establish additional drill stations and complete planned exploration activities; and the reliability of geological interpretations, historical information and exploration results.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. These include risks associated with underground development and drilling, including ground stability, water inflows, ventilation and other underground operating and safety conditions; delays, increased costs or changes to planned exploration and development activities; equipment and contractor availability; permitting and regulatory requirements; and the Company’s ability to obtain financing on acceptable terms or at all.

Additional risks include geological uncertainty, including the possibility that future drilling may not confirm interpreted vein continuity, geometry, extent or grade, or support the definition of additional Mineral Resources or upgrading of existing Inferred Mineral Resources. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Other risks include commodity-price fluctuations, changes in laws and regulations, environmental and operational hazards, and other factors described in the Company’s registration statement on Form S-1, as amended, its Canadian prospectus and subsequent filings with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.

Although the Company believes that the expectations and assumptions reflected in its forward-looking statements are reasonable, no assurance can be given that they will prove correct. Other factors may cause actual results to differ materially from those anticipated, estimated or intended. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/840881e5-5cf0-4d95-8e15-50e49c3b131a
https://www.globenewswire.com/NewsRoom/AttachmentNg/6838d73b-6bef-4057-8de3-4803e972234e

Outlook implies approximately 22% year-over-year growth from audited FY2025 revenue of US$57.2 million

SINGAPORE, Nov. 11, 2026 (GLOBE NEWSWIRE) — YYForce Inc. (Nasdaq: YFOR) (“YYForce” or the “Company”), an AI-enabled enterprise workforce and robotics technology platform, today issued its financial guidance for the fiscal year ending December 31, 2026, projecting full-year revenue of US$70.0 million. The outlook represents approximately 22% year-over-year revenue growth compared to audited fiscal year 2025 revenue of US$57.2 million.

The projected US$12.8 million increase in revenue reflects growing enterprise demand for the Company’s proprietary Workforce OS platform, continued commercial robotics deployments, and expanding recurring software-and-service contracts across Southeast Asia, as well as expected contributions from businesses acquired or established in 2026.

Key Financial & Operating Highlights

• FY2026 Revenue Guidance: Targeted at US$70.0 million, representing approximately 22% year-over-year growth.
• FY2025 Revenue Baseline: Audited benchmark of US$57.2 million.
• Projected Revenue Increase: Projected US$12.8 million increase in revenue.
• Margin Expansion: AI matching algorithms and automated service deployment continue to drive operating leverage across regional operational hubs.
• Balance Sheet Discipline: Funded expansion supported by positive operating cash flow generation and a streamlined capital structure.

Executive Commentary

“Growing the US$57.2 million FY2025 benchmark toward a projected US$70.0 million in FY2026, representing approximately 22% year-over-year growth, reflects continued enterprise adoption of our AI-enabled operating architecture,” said Mike Fu, Chief Executive Officer of YYForce. “By embedding proprietary dispatch software and commercial service robotics directly into enterprise workflows, YYForce seeks to deliver cost efficiency to our clients while supporting revenue growth. Based on our current Southeast Asian pipeline, we remain focused on executing our commercial expansion strategy for the remainder of fiscal 2026.”

About YYForce Inc.

YYForce Inc. (Nasdaq: YFOR) is a technology-enabled provider of workforce solutions and integrated facility management services. The Company is developing a future workforce ecosystem integrating human talent, artificial intelligence, humanoid and service robotics, IoT technologies, and digital facility-management platforms.

Through its workforce operations, integrated facility-management capabilities, 24iFM platform, and emerging robotics initiatives, YYForce seeks to support the transition toward technology-enabled, human-and-machine collaborative service delivery.

For more information, visit www.yyforce.ai.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on the Company’s current expectations, assumptions and information available to it as of the date of this release. Forward-looking statements can be identified by words such as “may,” “will,” “should,” “expects,” “anticipates,” “plans,” “intends,” “believes,” “estimates,” “potential” or similar expressions, or the negative of these terms.

Forward-looking statements in this release include, but are not limited to, statements regarding the Company’s projected revenue of US$70.0 million for the fiscal year ending December 31, 2026 and the anticipated year-over-year growth rate; expected demand for the Company’s workforce, facility management, software and robotics services; the timing and volume of customer contracts and deployments; operating margins and cash flow; and the Company’s strategy, investment priorities and operating objectives.

Forward-looking statements involve inherent risks and uncertainties, and the forward-looking events discussed in this press release may not occur. Actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about the Company and a number of factors, including, among others, the Company’s history of net losses and the substantial doubt about its ability to continue as a going concern; its ability to obtain financing on acceptable terms; and its ability to integrate recently acquired businesses. For a more detailed discussion of risk factors, please refer to the Company’s filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” section of the Company’s most recent annual report on Form 20-F, as amended, and its subsequent filings with the SEC.

The revenue guidance reflects management’s current estimates as of the date of this release, has not been reviewed or audited by the Company’s independent auditors, and should not be relied upon as a prediction of actual results. YYForce undertakes no obligation to update these statements except as required by applicable law.

Investor Relations Contact

YYForce Inc.
Investor Relations Department
Email: ir@yyforce.ai
Website: https://www.yyforce.ai

TORONTO, Nov. 11, 2026 (GLOBE NEWSWIRE) — Quantum BioPharma Ltd. (NASDAQ: QNTM) (FRA: 0K91) (“Quantum BioPharma” or the “Company”), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions, today announced the results of its annual general and special meeting of shareholders, held on Tuesday, November 10, 2026 in person at 1 Adelaide Street East, Suite 801, Toronto, ON M5C 2V9 (“AGSM”), and the closing on November 9, 2026 of a non-brokered private placement of 26 Class A Multiple Voting Shares (as defined below) (the “Offering”).

Shareholders represented in person or by proxy at the AGSM held 42 class A multiple voting shares (the “Class A Multiple Voting Shares”) and 4,549,222 class B subordinate voting shares (the “Class B Subordinate Voting Shares”), representing 100% and 53.721%, respectively, of the issued and outstanding shares of those classes as of September 28, 2026, the record date for the AGSM (the “Record Date”). Each Class A Multiple Voting Share carries 276,660 votes on all matters on which it is entitled to vote. Accordingly, as of the Record Date, the 42 outstanding Class A Multiple Voting Shares carried an aggregate of 11,619,720 votes, representing approximately 57.844% of the aggregate voting power attached to all outstanding Class A Multiple Voting Shares and Class B Subordinate Voting Shares. On matters on which the Class A Multiple Voting Shares were entitled to vote at the AGSM, they represented approximately 71.864% of the aggregate voting power represented at the AGSM.

Each nominee listed in the Company’s management information circular dated September 28, 2026 (the “Circular”), was elected as a director of the Company. Each director will serve until the next annual meeting of shareholders or until his or her successor is duly elected or appointed. The voting results were as follows:

Nominee	Votes For		Votes Withheld
	#	%	#	%
Anthony Durkacz	13,646,102	97.448%	357,320	2.552%
Zeeshan Saeed	13,642,399	97.422%	361,018	2.578%
Adnan Bashir	14,046,365	97.512%	358,341	2.488%
Michael (Zappy) Zapolin	13,639,632	97.403%	363,733	2.597%
Dr. Eric Hoskins	14,047,529	97.520%	357,241	2.480%

On November 5, 2026, the Company filed a supplement to the Circular (the “Circular Supplement”). In addition, at the AGSM, the shareholders: (i) re-appointed MNP LLP as the Company’s auditor (the “Auditor”) and authorized the audit committee of the board of directors to fix the Auditor’s remuneration; (ii) disinterested holders of Class B Subordinate Voting Shares, exclusive of Class B Subordinate Voting Shares held by holders of Class A Multiple Voting Shares, approved an ordinary resolution authorizing the board (“Board”), in its sole discretion, on a continuing basis, to issue additional Class A Multiple Voting Shares to Permitted Holders (as defined in the Circular) in order to maintain the aggregate voting power attached to all outstanding Class A Multiple Voting Shares at up to 70% of the aggregate voting power of the Company (the “MVS Issuance Resolution”); (iii) approved an ordinary resolution approving the Company’s omnibus equity incentive plan (the “2026 Omnibus Plan Resolution”); (iv) approved a special resolution authorizing the Board, in its sole discretion, to consolidate the Company’s issued and outstanding Class A Multiple Voting Shares and Class B Subordinate Voting Shares at a ratio of up to ten (10) pre-consolidation shares for one (1) post-consolidation share, as determined by the Board (the “Consolidation Resolution”); and (v) approved a special resolution authorizing the Company to change its name to such name as determined by the Board, in its sole discretion (the “Name Change Resolution”). The voting results were as follows:

Resolution	Votes For:		Votes Withheld:		Votes Against:
	Number	Percentage	Number	Percentage	Number	Percentage
Re-appointment of Auditor	15,813,380	97.801%	355,552	2.199%	0	0.000%
Approval of MVS Issuance Resolution*	1,577,224	65.764%	0	0.000%	821,077	34.236%
Approval of 2026 Omnibus Plan Resolution	13,579,192	94.276%	0	0.000%	824,523	5.724%
Approval of Consolidation Resolution	15,686,962	97.022%	0	0.000%	481,563	2.978%
Approval of Name Change Resolution	14,065,116	97.646%	0	0.000%	339,077	2.354%

* All 42 Class A Multiple Voting Shares and 391,298 Class B Subordinate Voting Shares held, directly or indirectly, by holders of Class A Multiple Voting Shares, together with any other votes required to be excluded under applicable law, were excluded and not voted on the MVS Issuance Resolution.

For more information on these matters, please refer to the Circular, Circular Supplement and Company’s report of voting results, copies of which are available on SEDAR+ at www.sedarplus.ca and on the Company’s website.

Closing of Private Placement of Class A Multiple Voting Shares

On November 9, 2026, the Company closed the Offering, issuing 26 Class A Multiple Voting Shares at a price of C$3.11 per Class A Multiple Voting Share for aggregate gross proceeds of C$80.86. The price was set by reference to the trading price of the Class B Subordinate Voting Shares on the Nasdaq Capital Market of US$2.21 on November 9, 2026, converted into Canadian dollars. The Company intends to use the proceeds of the Offering for general working capital purposes. All securities issued under the Offering are subject to a statutory hold period expiring March 10, 2027 in accordance with applicable Canadian securities laws.

At the annual general and special meeting of shareholders held on September 26, 2025, the holders of Class B Subordinate Voting Shares, excluding the votes of holders of Class A Multiple Voting Shares, authorized the Board to issue up to 56 additional Class A Multiple Voting Shares until the next annual meeting of shareholders (the “2025 Authority”). The Company issued 30 Class A Multiple Voting Shares under the 2025 Authority on December 10, 2025. The Offering consisted of the remaining 26 Class A Multiple Voting Shares available under the 2025 Authority and was completed before the 2025 Authority expired at the AGSM. The Offering was not completed under, and was not conditional on, the MVS Issuance Resolution. Because the Offering closed after the Record Date, the Class A Multiple Voting Shares issued under the Offering did not carry the right to vote at the AGSM, and the voting results above reflect only the 42 Class A Multiple Voting Shares outstanding as of the Record Date.

Before the Offering, 42 Class A Multiple Voting Shares were outstanding, held as to 21 shares by each of Xorax Family Trust and Fortius Research and Trading Corp. Based on 8,762,496 Class B Subordinate Voting Shares outstanding, the Class A Multiple Voting Shares represented approximately 57.01% of the votes attached to all outstanding voting securities of the Company before the Offering. Following the Offering, the 68 outstanding Class A Multiple Voting Shares represent approximately 68.22% of those votes.

MI 61-101 Disclosure

Xorax Family Trust (“Xorax”), a trust of which Zeeshan Saeed (“Mr. Saeed”), the Chief Executive Officer and Executive Co-Chairman of the Company, is a beneficiary, and Fortius Research and Trading Corp. (“Fortius”), a corporation controlled by Anthony Durkacz (“Mr. Durkacz”), a director of the Company, each acquired 13 Class A Multiple Voting Shares, being all of the Class A Multiple Voting Shares issued under the Offering. The participation of these insiders was a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the subject matter of the transaction, nor the fair market value of the consideration for it, insofar as it involved the related parties, exceeded 25% of the Company’s market capitalization (each as determined under MI 61-101). The Offering was approved by the Board, with Mr. Saeed and Mr. Durkacz having declared their interest and abstained from voting. The Company did not file a material change report in respect of the Offering more than 21 days before closing. The Company considered the shorter period reasonable and necessary in the circumstances because the 2025 Authority expired at the AGSM, and the Company wished to complete the Offering while that authority remained in effect.

Early Warning Disclosure

Xorax acquired 13 Class A Multiple Voting Shares under the Offering for a total purchase price of C$40.43. Immediately before the Offering, Xorax held 21 Class A Multiple Voting Shares and 6,786 Class B Subordinate Voting Shares, representing 50% of the outstanding Class A Multiple Voting Shares and approximately 28.54% of the votes attached to all outstanding voting securities of the Company. Immediately after the Offering, Xorax holds 34 Class A Multiple Voting Shares and 6,786 Class B Subordinate Voting Shares, representing 50% of the outstanding Class A Multiple Voting Shares and approximately 34.14% of those votes. Together with Mr. Saeed, who may be considered a joint actor, Xorax holds 34 Class A Multiple Voting Shares, 239,998 Class B Subordinate Voting Shares and options to acquire 407,000 Class B Subordinate Voting Shares, representing approximately 34.98% of those votes (35.93% on a partially diluted basis).

Fortius acquired 13 Class A Multiple Voting Shares under the Offering for a total purchase price of C$40.43. Immediately before the Offering, Fortius held 21 Class A Multiple Voting Shares and 1,632 Class B Subordinate Voting Shares, representing 50% of the outstanding Class A Multiple Voting Shares and approximately 28.51% of the votes attached to all outstanding voting securities of the Company. Immediately after the Offering, Fortius holds 34 Class A Multiple Voting Shares and 1,632 Class B Subordinate Voting Shares, representing 50% of the outstanding Class A Multiple Voting Shares and approximately 34.12% of those votes. Together with Mr. Durkacz and First Republic Capital Corporation, a company controlled by Mr. Durkacz, each of whom may be considered a joint actor, Fortius holds 34 Class A Multiple Voting Shares, 151,300 Class B Subordinate Voting Shares and options to acquire 24,000 Class B Subordinate Voting Shares, representing approximately 34.66% of those votes (34.72% on a partially diluted basis).

Each of Xorax and Fortius acquired the Class A Multiple Voting Shares for investment purposes and so that voting control of the Company remains consolidated with the Permitted Holders (as defined in the Company’s articles). Each of them may, depending on market and other conditions, increase or decrease its holdings of securities of the Company from time to time. Each of Xorax and Fortius will file an early warning report under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which will be available on the Company’s SEDAR+ profile at www.sedarplus.ca. A copy of each report may also be obtained by contacting the Company at the contact information below.

About Quantum BioPharma

Quantum BioPharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc. (“Lucid”), Quantum is focused on the research and development of its lead compound, Lucid-MS. Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum invented UNBUZZD™ and spun out its OTC version to Unbuzzd Wellness Inc. (“Unbuzzd”) (formerly, Celly Nutrition Corp.), led by industry veterans. Quantum retains ownership of 19.48% (as of June 30, 2026) of Unbuzzd. The agreement with Unbuzzd also includes royalty payments of 7% of sales from unbuzzd™ until payments to Quantum total $250 million. Once $250 million is reached, the royalty drops to 3% in perpetuity. Quantum retains 100% of the rights to develop similar products or alternative formulations specifically for pharmaceutical and medical uses.

For more information visit www.quantumbiopharma.com.

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws, including statements regarding the Company’s ability or intention to implement the Consolidation and the Name Change following shareholder approval, and the timing and terms of any such implementation; the use of proceeds of the Offering; the filing of early warning reports; and the future intentions of Xorax and Fortius with respect to securities of the Company. Forward-looking information is often identified by words such as “may,” “will,” “should,” “expect,” “anticipate,” “believe,” “intend,” “estimate,” “potential,” “continue,” “could” and similar expressions, although not all forward-looking information contains these identifying words.

Forward-looking information is based on management’s current expectations, assumptions and beliefs and is subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, among others, the possibility that the Board may determine not to proceed with the Consolidation or the Name Change; the timing and terms of any implementation of the Consolidation or the Name Change; the Company’s ability to satisfy applicable corporate, securities, regulatory and stock exchange requirements; the Company’s ability to use the proceeds of the Offering as described; dilution of shareholders’ holdings and voting power; and the other risks described in the Company’s filings on SEDAR+ and EDGAR.

Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this news release is provided as of the date hereof, and the Company undertakes no obligation to update or revise such information as a result of new information, future events or otherwise, except as required by applicable law.

Contacts:

Investor Relations
Robert Guzman, Investor Relations
Email: Rob@QuantumBioPharma.com
Telephone: (833) 304-0323
General Inquiries: info@QuantumBioPharma.com