Author: Ravi Shankar

Recorded third consecutive quarter of positive GAAP gross profit: nine-month GAAP gross margin expanded to 26.9% from 13.3% in the prior year

Reduced nine-month operating expenses by 10.0%, narrowing nine-month GAAP and non-GAAP operating losses by 13.9% and 34.5%, respectively

Grew revenue 17.0% and improved adjusted EBITDA 15.6% sequentially

LOS ANGELES, Nov. 12, 2026 (GLOBE NEWSWIRE) — Xos, Inc. (NASDAQ: XOS) (“Xos” or the “Company”), a leading energy storage and fleet electrification solutions provider, today reported financial results for the third quarter ended September 30, 2026. Building on a year of disciplined execution and consistent operational improvement, Xos recorded its third consecutive quarter of positive gross profit and reduced its operating expenses both year-over-year and sequentially, showcasing the durability of its operating model and its commitment to operational efficiency.

Third Quarter Highlights:

• Revenue increased 17.0% sequentially to $5.5 million on 33 units delivered, including leases, from $4.7 million on 30 units in Q2 2026 and decreased 66.4% year-over-year from $16.5 million on 130 units in Q3 2025.
• Gross margin improved sequentially to 15.3% from 12.1% in Q2 2026, but was down slightly from 15.5% in the prior year period. Non-GAAP gross margin improved both sequentially, to 34.4% in Q3 2026 from 7.2% in Q2 2026, and year-over-year, from 16.1% in Q3 2025, marking the 13th consecutive quarter of positive non-GAAP gross margin.
• Operating loss improved 6.1% sequentially to $7.5 million, compared to $7.9 million in Q2 2026, but declined 7.0% from $7.0 million in the prior year period. Non-GAAP operating loss improved 34.2% sequentially to $4.1 million, compared to $6.2 million in Q2 2026 and 14.2% from $4.7 million in Q3 2025.
• Operating expenses were $8.3 million, down 2.5% sequentially and 12.8% year-over-year, reflecting continued operational efficiency and cost discipline across the organization.
• EBITDA was $(6.9) million, increasing $0.6 million, or 7.5% sequentially, and decreasing $9.8 million, or 336% year-over-year as a result of a $9.4 million gain on operating lease termination in the prior year period. Adjusted EBITDA (which excludes gain on operating lease termination, among other things) was $(4.6) million, increasing $0.9 million, or 15.6% sequentially and decreasing $0.3 million, or 7.3%, year-over-year.
• The Company raised $2.8 million, net of offering costs, under its at-the-market offering program and repaid $1.5 million of principal on its convertible note during the third quarter of 2026, reducing outstanding convertible debt to $14.0 million from $15.5 million at June 30, 2026.

Nine Months Ended September 30, 2026 Highlights:

• Revenue decreased 47.2% to $21.5 million on 158 units delivered in the first nine months of 2026, including leases, from $40.8 million on 294 units in the first nine months of 2025.
• Gross margin improved to 26.9% in the first nine months of 2026, compared to 13.3% in the first nine months of 2025. Non-GAAP gross margin improved to 30.4% in the first nine months of 2026, compared to 9.4% in the first nine months of 2025.
• Operating loss improved 13.9% to $20.0 million in the first nine months of 2026, compared to $23.3 million in the first nine months of 2025, while non-GAAP operating loss improved 34.5% year-over-year to $12.9 million in the first nine months of 2026, compared to $19.6 million in the first nine months of 2025.
• Operating expenses were $25.8 million in the first nine months of 2026, down 10.0% year-over-year from $28.7 million in the first nine months of 2025.
• EBITDA decreased by $6.0 million, or 48.1%, to $(18.3) million in the 2026 period from $(12.4) million in the 2025 period, primarily as a result of a $9.4 million gain on operating lease termination in the prior year period, partially offset by a $3.2 million improvement in operating loss year-over-year. Adjusted EBITDA (which excludes gain on operating lease termination, among other things) improved by $4.4 million, or 26.9%, to $(12.0) million from $(16.5) million year-over-year.

Platform and Product Milestones:

• Utilities are expanding Hub deployments. During the quarter, Xos delivered Xos Hub™ units to multiple municipal and investor-owned utilities and received additional utility orders scheduled for delivery in the fourth quarter. Utilities understand grid constraints better than anyone, and Xos believes their adoption of the Hub shows that mobile energy storage is becoming part of how they deliver power where and when it is needed.
• First international Hub deployment. Xos shipped its first Xos Hubs outside the United States, supporting Waymo’s autonomous vehicle operations in London. The deployment builds on Xos’s work powering Waymo’s charging operations in the U.S. and marks the Hub’s entry into international markets.
• Hubs eligible for California CORE vouchers. Xos’s 420 kWh and 630 kWh ChargerHub configurations are eligible for vouchers under California’s Clean Off-Road Equipment Voucher Incentive Project (CORE) for the upcoming funding round, which is expected to open later this year. Xos has also submitted the PowerHub to CARB for CORE eligibility.
• Proven at scale. Xos now has more than 1,000 units in the field, which have driven more than 16 million miles, and its Hubs have delivered more than 5 GWh of energy to customers.

“Customers facing years-long waits for grid power need energy they can deploy now, and that is what Xos is building. During the quarter, the Xos Hub powered a hyperscaler’s data center construction project, another proof point that mobile storage solves a problem the grid cannot solve fast enough. We also began producing higher-capacity Hubs in Byrdstown and improved non-GAAP gross margin to 34.4%. Going into the fourth quarter, our priorities are clear: convert pipeline into deliveries, bring PowerHub rental and deployment partners online, and keep winning on reliability and economics,” said Dakota Semler, Chief Executive Officer of Xos.

“The first nine months of 2026 demonstrate the impact of the financial discipline we have embedded across Xos,” said Liana Pogosyan, Chief Financial Officer of Xos. “Year-over-year, we expanded GAAP gross margin to 26.9% from 13.3%, reduced operating expenses by 10.0%, narrowed operating loss by 13.9%, and improved adjusted EBITDA by 26.9%.”

“We also continued to strengthen our balance sheet this year. Since year-end, we’ve reduced convertible debt by $4.5 million, or 24%, and brought inventory down by $3.1 million as we convert working capital to cash. In the third quarter, we raised $2.8 million through our at-the-market program and ended the quarter with $12.1 million in cash. Together with our lower operating expenses, that gives us a leaner cost base and a cleaner balance sheet as we execute against our revised full-year outlook.”

Third Quarter 2026 Financial Highlights

(in millions)	September 30, 2026		June 30, 2026		December 31, 2025
Cash and cash equivalents	$	12.1	$	13.2	$	14.0
Inventories	$	21.8	$	23.5	$	25.0

	Quarters ended
(in millions)	September 30, 2026			June 30, 2026			September 30, 2025
Revenues	$	5.5		$	4.7		$	16.5
Gross profit	$	0.9		$	0.6		$	2.6
Non-GAAP gross profit(1)	$	1.9		$	0.3		$	2.7
Net income (loss)	$	(7.6	)	$	(6.9	)	$	2.1
Loss from operations	$	(7.5	)	$	(7.9	)	$	(7.0	)
Non-GAAP operating loss(1)	$	(4.1	)	$	(6.2	)	$	(4.7	)

________________________
_{⁽¹⁾ For further information about how we calculate Non-GAAP financial measures, such as Non-GAAP gross profit, Non-GAAP operating loss, Adjusted EBITDA, and free cash flow, see below for the reconciliations of GAAP to non-GAAP financial measures provided in the tables included in this release.}

2026 Outlook:

Xos is revising its outlook for 2026 due to results to date and changes in the expected product mix and volume expectations for the fourth quarter as a result of order revisions as follows:

Revenue	$25 to $35 million
Non-GAAP operating loss(1)	$(20.5) million to $(17.2) million
Unit deliveries (2)	185 to 250 units

____________________________

_{⁽¹⁾ This press release does not provide a forward-looking reconciliation from Non-GAAP operating loss to net loss, the most directly comparable GAAP measure, due to the uncertainty and the potential variability of inputs of the financial information. For the same reason, we are unable to address the probable significance of the unavailable information.
⁽²⁾ Unit deliveries forecast includes our powertrain, Xos Hub products, stepvan and stripped chassis products.}

Conference Call and Webcast Details

Date / Time:		Thursday, November 12, 2026, at 4:30 p.m. EST / 1:30 p.m. PST
Webcast:	https://viavid.webcasts.com/starthere.jsp?ei=1779331&tp_key=4027fb8d71
U.S. Toll-Free Dial In:		1-833-816-1411
International Dial In:		1-412-317-0507
Conference ID:		10212733

To access the call, please dial in approximately ten minutes before the start of the call.

For those unable to participate in the live call, an audio replay will be available following the call through midnight Thursday, November 26, 2026. To access the replay, please call 1-844-512-2921 or 1-412-317-6671 (International) and enter access code 10212733. A replay of the webcast will also be archived shortly after the call and can be accessed on the Company’s website.

About Xos, Inc.

Xos is a leading energy storage and fleet electrification solutions provider. The Xos Hub is a proactive, movable power source delivering high-capacity output and high-speed charging in one. Xos vehicles and fleet management software are purpose-built for medium- and heavy-duty commercial vehicles that travel on last-mile, back-to-base routes. The Company leverages its proprietary technologies to provide a diverse customer base with rapid-deployment energy storage and charging solutions and commercial fleets with battery-electric vehicles that are easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine counterparts. For more information, please visit www.xostrucks.com.

Non-GAAP Financial Measures

The financial information in this press release has been presented in accordance with United States generally accepted accounting principles (“GAAP”) as well as on a non-GAAP basis to supplement Xos’s unaudited condensed consolidated interim financial results. Xos’s non-GAAP financial measures include operating cash flow less CapEx (Free Cash Flow), non-GAAP operating loss, non-GAAP gross profit and Adjusted EBITDA, which are defined below.

“Operating cash flow less CapEx (Free Cash Flow)” is defined as net cash provided by (used in) operating activities minus purchases of property and equipment.

“Non-GAAP operating loss” is defined as loss from operations adjusted for stock-based compensation, inventory reserve adjustments and physical inventory and other adjustments.

“Non-GAAP gross profit” is defined as gross profit (loss) adjusted for inventory reserve adjustments and physical inventory and other adjustments.

“Adjusted EBITDA” is defined as EBITDA (net (loss) income before other (expense) income, net, interest, taxes, depreciation and amortization) adjusted for change in fair value of derivatives, change in fair value of earn-out shares liability, gain on operating lease terminations, and stock-based compensation.

Xos believes that the use of operating cash flow less CapEx (Free Cash Flow), non-GAAP operating loss, non-GAAP gross profit, and Adjusted EBITDA reflects additional means for management and investors to use when evaluating Xos’s ongoing operating results and trends. The presentation of these measures should not be construed as an inference that Xos’s future results will be unaffected by unusual or non-recurring items. It is important to note Xos’s computation of operating cash flow less CapEx (Free Cash Flow), non-GAAP operating loss, non-GAAP gross profit, and Adjusted EBITDA may not be comparable to other similarly titled measures computed by other companies, because not all companies may calculate operating cash flow less CapEx (Free Cash Flow), non-GAAP operating loss, non-GAAP gross profit, and Adjusted EBITDA in the same fashion. Non-GAAP information is not prepared under a comprehensive set of accounting rules and therefore, should only be read in conjunction with financial information reported under GAAP when understanding Xos’s operating performance. A reconciliation between historical GAAP and non-GAAP financial information is provided in this press release.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding projected financial and performance information; expectations and timing related to product deliveries and customer demand; sufficiency of existing cash reserves; customer acquisition and order metrics; ability to access additional capital and Xos’s long-term strategy and future growth. These forward-looking statements may be identified by the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “future,” “intend,” “likely,” “may,” “might,” “opportunity,” “plan,” “possible,” “project,” “potential,” “predict,” “seek,” “seem,” “should,” “strategy,” “target,” “will,” “would,” and similar expressions and any other statements that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) Xos’s liquidity and access to capital when needed, including its ability to service its indebtedness; (ii) Xos’s ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; (iii) cost increases and delays in production due to supply chain shortages in the components needed for the production of Xos’s products; (iv) Xos’s ability to meet production milestones and fulfill backlog orders; (v) changes in the industries in which Xos operates; (vi) variations in operating performance across competitors; (vii) changes in laws and regulations affecting Xos’s business, including changes to tax incentive policies; (viii) Xos’s ability to implement its business plan or meet or exceed its financial projections; (ix) Xos’s limited operating history; (x) Xos’s ability to retain key personnel and hire additional personnel, particularly in light of current and potential labor shortages; (xi) the risk of downturns and a changing regulatory landscape in the highly competitive electric vehicle industry; (xii) macroeconomic and political conditions; and (xiii) the outcome of any legal proceedings that may be instituted against Xos. All forward-looking statements included in this press release are expressly qualified in their entirety by, and you should carefully consider, the foregoing factors and the other risks and uncertainties described under the heading “Risk Factors” included in Xos’s most recently filed Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) and any subsequent Quarterly Reports on Form 10-Q filed with the SEC, copies of which may be obtained by visiting Xos’s Investor Relations website at https://www.xostrucks.com/sec-filings or the SEC’s website at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Xos assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Xos does not give any assurance that it will achieve its expectations.

Contacts

Xos Investor Relations
investors@xostrucks.com     

Xos Media Relations
marketing@xostrucks.com

Xos, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
Unaudited
	September 30, 2026			December 31, 2025(1)
(in thousands, except par value per share)
Assets
Cash and cash equivalents	$	12,064		$	14,040
Accounts receivable, net		4,639			6,035
Inventories		21,840			24,961
Prepaid expenses and other current assets		4,104			4,841
Total current assets		42,647			49,877
Property and equipment, net		3,465			4,320
Operating lease right-of-use assets, net		1,304			1,534
Other non-current assets		4,126			4,632
Total assets	$	51,542		$	60,363
Liabilities and Stockholders’ Equity
Accounts payable	$	2,129		$	2,473
Convertible debt, current		8,000			6,500
Other current liabilities		14,372			14,011
Total current liabilities		24,501			22,984
Common stock warrant liability		–			73
Other non-current liabilities		948			1,345
Convertible debt, non-current		6,000			12,000
Total liabilities		31,449			36,402
Stockholders’ Equity
Common stock $0.0001 par value per share, authorized 1,000,000 shares, 14,969 and 11,403 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively		2			1
Preferred stock $0.0001 par value per share, authorized 10,000 shares, 0 shares issued and outstanding at September 30, 2026 and December 31, 2025		–			–
Additional paid-in capital		267,575			252,026
Accumulated deficit		(247,484	)		(228,066	)
Total stockholders’ equity		20,093			23,961
Total liabilities and stockholders’ equity	$	51,542		$	60,363

_{⁽¹⁾ Prior-period amounts have been revised to correct immaterial errors. See Note 19 – Revision of Previously Reported Information of the footnotes accompanying the unaudited condensed consolidated financial statements in our Form 10-Q for the quarter ended September 30, 2026 for more details.}

Xos, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
Unaudited
(in thousands, except per share amounts)		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025(1)				2026				2025(1)
Revenues		$	5,546			$	16,500			$	21,511			$	40,772
Cost of goods sold			4,696				13,948				15,717				35,347
Gross profit			850				2,552				5,794				5,425
Operating expenses
General and administrative			5,272				6,456				17,154				20,258
Research and development			2,241				2,101				6,170				6,118
Sales and marketing			797				968				2,517				2,329
Total operating expenses			8,310				9,525				25,841				28,705
Loss from operations			(7,460	)			(6,973	)			(20,047	)			(23,280	)
Gain on operating lease termination			–				9,394				54				9,394
Other (expense) income, net			(224	)			(240	)			538				(1,496	)
Change in fair value of derivative instruments			79				(39	)			73				(99	)
(Loss) income before provision for income taxes			(7,605	)			2,142				(19,382	)			(15,481	)
Provision (benefit) for income taxes			4				(2	)			36				23
Net (loss) income		$	(7,609	)		$	2,144			$	(19,418	)		$	(15,504	)
Net (loss) income per share
Basic		$	(0.52	)		$	0.22			$	(1.50	)		$	(1.78	)
Diluted		$	(0.52	)		$	0.22			$	(1.50	)		$	(1.78	)
Weighted average shares outstanding
Basic			14,545				9,688				12,913				8,690
Diluted			14,545				9,753				12,913				8,690

_{⁽¹⁾ Prior-period amounts have been revised to correct immaterial errors. See Note 19 – Revision of Previously Reported Information of the footnotes accompanying the unaudited condensed consolidated financial statements in our Form 10-Q for the quarter ended September 30, 2026 for more details.}

Reconciliation of Adjusted EBITDA, Operating Cash Flow less CapEx (Free Cash Flow), Non-GAAP Operating Loss and Non-GAAP Gross Profit:

Adjusted EBITDA Reconciliation:

	Three Months Ended September 30,								Nine Months Ended September 30,								Three Months Ended June 30,
(in thousands)	2026				2025				2026					2025			2026
Net income (loss)	$	(7,609	)		$	2,144			$	(19,418	)		$	(15,504	)		$	(6,893	)
Other (expense) income, net		224				240				(538	)			1,496				(1,096	)
Depreciation		498				531				1,582				1,601				525
Provision (benefit) for income taxes		4				(2	)			36				23				27
EBITDA		(6,883	)			2,913				(18,338	)			(12,384	)			(7,437	)
Change in fair value of derivative instruments		(79	)			39				(73	)			99				15
Gain on operating lease termination		–				(9,394	)			(54	)			(9,394	)			(54	)
Stock-based compensation		2,330				2,125				6,437				5,222				1,988
Adjusted EBITDA	$	(4,632	)		$	(4,317	)		$	(12,028	)		$	(16,457	)		$	(5,488	)

Operating Cash Flow less CapEx (Free Cash Flow):

		Three Months Ended September 30,						Nine Months Ended September 30,							Three Months Ended June 30,
(in thousands)	2026				2025			2026				2025			2026
Net cash (used in) provided by operating activities	$	(2,503	)		$	3,077		$	(6,778	)		$	2,966		$	(2,687		)
Purchase of property and equipment		(205	)			–		(243		)			–			(19		)
Free Cash Flow	$	(2,708	)		$	3,077		$	(7,021	)		$	2,966		$	(2,706		)

Non-GAAP Operating Loss:

	Three Months Ended September 30,								Nine Months Ended September 30,								Three Months Ended June 30,
(in thousands)	2026				2025				2026				2025				2026
Loss from operations	$	(7,460	)		$	(6,973	)		$	(20,047	)		$	(23,280	)		$	(7,947	)
Stock-based compensation		2,330				2,125				6,437				5,222				1,988
Inventory reserve adjustments		782				128				(95	)			(2,078	)			(672	)
Physical inventory and other adjustments		276				(26	)			835				497				441
Non-GAAP Operating Loss	$	(4,072	)		$	(4,746	)		$	(12,870	)		$	(19,639	)		$	(6,190	)

Non-GAAP Gross Profit:

	Three Months Ended September 30,							Nine Months Ended September 30,								Three Months Ended June 30,
(in thousands)	2026			2025				2026				2025				2026
Gross profit	$	850		$	2,552			$	5,794			$	5,425			$	573
Inventory reserve adjustments		782			128				(95	)			(2,078	)			(672	)
Physical inventory and other adjustments		276			(26	)			835				497				441
Non-GAAP Gross Profit	$	1,908		$	2,654			$	6,534			$	3,844			$	342

SUNNYVALE, Calif., Nov. 12, 2026 (GLOBE NEWSWIRE) — BioCardia, Inc. [Nasdaq: BCDA], a global leader in cellular and cell-derived therapeutics for the treatment of cardiovascular and pulmonary diseases, today reported financial results for the third quarter 2026 and filed its quarterly report on Form 10-Q for the three and nine months ended September 30, 2026 with the Securities and Exchange Commission. The Company will also hold a conference call at 4:30 PM ET today in which it will discuss business highlights. Following management’s formal remarks, there will be a question-and-answer session.

“We believe that our CardiAMP autologous cell therapy is on track to be the first approved minimally invasive biologic therapy for the treatment of heart failure in a first world country based on the recent interactions with Japan’s Pharmaceutical and Medical Devices Agency,” said Peter Altman, PhD, Chief Executive Officer of BioCardia. “In addition, in the coming months, we aim to be able to submit our Helix transendocardial delivery platform for FDA approval, which would be the first delivery system of its type approved in the United States. This promises to be an exciting year ahead.”

Recent Business Highlights

CardiAMP® autologous cell therapy in ischemic heart failure of reduced ejection fraction (BCDA-01)

• In November, the Company announced it had successfully completed the process with Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) concerning the application materials required to obtain regulatory approval in Japan. Questions remaining to be addressed in advance of submission have been addressed to PMDA’s satisfaction.
• We continue to prepare clinical data sets for submission to Japan’s PMDA and the U.S. FDA. We are working with partners to complete the electronic trial master file, conduct good clinical practice audits, and structure clinical research data in accordance with CDISC Standards, which support data consistency, traceability, and regulatory compliance. We have engaged a Designated Marketing Authorization Holder, or DMAH, as the local regulatory representative required for foreign medical device and pharmaceutical companies seeking to sell products in Japan without establishing a local office. In Japan, the DMAH designation may be transferred together with the underlying product approval.
• BioCardia continues to actively enroll in the CardiAMP HF II trial. Four clinical sites have enrolled in the study and are actively recruiting patients.  Seven additional world class sites are being onboarded.
• Near term catalysts ahead for this program include publication of the peer reviewed manuscript for CardiAMP HF, submission for approval in Japan, acceptance of the submission by PMDA, and ongoing enrollment in the CardiAMP HF II trial.

Helix™ Biotherapeutic Delivery System

• In August, FDA accepted our minutes from our Q2 Pre Submission Meeting for De Novo approval of the Helix transendocardial delivery catheter as formal minutes without changes.   
• In September, based on these minutes, we submitted our revised Pre-Submission to FDA, which was accepted by FDA in October. The FDA aims to issue written feedback or hold a meeting within 70 calendar days.  We expect to hear from the FDA on this Pre-Submission in the next six weeks.
• With FDA alignment on the De Novo approval pathway for Helix, we expect to complete the De Novo submission in the first quarter of 2027 with approval in mid-2027 if FDA meets its official target goal of 150 review days under Medical Device User Fee Amendments (MDUFA) guidelines.
• In addition to its role for our own therapeutic development activities, the investigational Helix system has potential to become the leading development platform for biologic therapies to treat heart disease, as it provides efficient delivery and control for these investigational agents to the heart. Helix performance for all developers is expected to be further enhanced by our Heart3D fusion imaging platform.

Heart3D™ Fusion Imaging

• The investigational Heart3D system enhances real time two-dimensional X-ray imaging by fusing pre-procedure three-dimensional anatomical heart models created from high-quality MRI and CT images for the interventional cardiologist with a focus on cardiac biotherapeutic interventions and biopsies.  With Helix, it enables an elegant approach to cell, gene, and protein-based therapies for cardiac indications. 
• We are working closely with our development and commercial partner, CART-Tech, to perform a number of studies with CardiAMP Cell Therapy in addition to gene therapy partners in parallel to advancing this platform into the clinic in 2027.

Third Quarter 2026 Financial Results:

• Net cash used in operations for the three months ended September 2026 was $1.7 million, comparable to the $1.7 million for the three months ended September 2025, and increased to $5.1 million for the nine months ended September 2026, as compared to $4.9 million for the nine months ended September 2025, primarily due to the timing of supplier payments.
• The Company ended the quarter with cash and cash equivalents totaling $2.2 million, providing anticipated runway into 2027.
• Research and development expenses increased to $1.2 million for the three months ended September 2026 as compared to $936,000 in the three months ended September 2025, primarily due to a bonus accrual at a higher level, coupled with increased expenses from regulatory activities to advance CardiAMP in Japan and enrollment in the CardiAMP HF II Trial Research and development expenses decreased to $3.4 million in the nine months ended September 30, 2026 as compared to $3.8 million in the nine months ended September 30, 2025 primarily due to closeout of the CardiAMP Heart Failure Trial, partially offset by early enrollment in the CardiAMP Heart Failure II Trial and regulatory activities to advance CardiAMP in Japan.
• Selling, general and administrative expenses increased to $600,000 in the three months ended September 30, 2026 as compared to $552,000 in the three months ended September 30, 2025.  Selling, general and administrative expenses remained consistent at $2.4 million in the nine months ended September 30, 2026 and in the nine months ended September 30, 2025.
• Our net loss was $1.9 million for the three months ended September 2026 compared to $1.5 million for the three months ended September 2025.  Our net loss decreased to $5.8 million for the nine months ended September 2026 compared to $6.2 million for the nine months ended September 2025, primarily due to lower research and development expenses.
   

ANTICIPATED UPCOMING MILESTONES AND EVENTS:

• CardiAMP Cell Therapy Shonin Submission to Japan PMDA Q4 2026 / Q1 2027
• CardiAMP HF Trial Peer Reviewed Manuscript Q1 2027
• Helix transendocardial delivery system FDA De Novo Pre-submission Meeting Q4 2026
• Heart3D FDA Submission Q1 2027
• Gene therapy study with partner(s) using Helix and Heart3D Q1/2027

Conference call access:

Participants can register for the conference by navigating to https://dpregister.com/sreg/10213286/10535c5b644. Please note that registered participants will receive their dial-in number upon registration. For those who have not registered, to listen to the call by phone, interested parties within the U.S. should call 1-833-316-0559 and international callers should call 1-412-317-5730 and ask to be connected to the BioCardia call. All callers should dial-in approximately 10 minutes prior to the scheduled start time and ask to be joined into the BioCardia call. The conference call will also be available through a live webcast, which can be accessed through the following link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=O8EiucRo.

A webcast replay of the call will be available approximately one hour after the end of the call at the following link: https://services.choruscall.com/ccforms/replay.html. A telephonic replay of the call will be available and may be accessed by calling 1-855-669-9658 (toll free domestic/Canada) and 1-412-317-0088 (international toll) by using access code 3063624.

About BioCardia®

BioCardia, Inc., headquartered in Sunnyvale, California, is a global leader in cellular and cell-derived therapeutics for the treatment of cardiovascular and pulmonary disease. CardiAMP® autologous and CardiALLO^TM allogeneic cell therapies are the Company’s biotherapeutic platforms with three cardiac clinical stage product candidates in development. These therapies are enabled by its Helix^TM biotherapeutic delivery and Morph® vascular navigation product platforms, and soon the Heart3D^TM fusion imaging platform. BioCardia selectively partners on biotherapeutic delivery with peers developing important biologic therapies.

The CardiAMP Cell Therapy Trial for Heart Failure has been supported financially by the Maryland Stem Cell Research Fund and the Center for Medicare and Medicaid Services.

For more information visit: www.BioCardia.com.

Forward Looking Statements 

This press release contains forward-looking statements that are subject to many risks and uncertainties. Forward-looking statements include, among other things, references to the enrollment in our clinical trials, the sufficiency of data from our clinical trials, filings and communications with the FDA and Japan’s Pharmaceutical and Medical Device Agency, product clearances, the efficacy and safety of our products and therapies, preliminary conclusions about new data, the achievement of any of the anticipated upcoming milestones, our positioning for growth or the market for our products and therapies, the expected benefits of our intellectual property, future prospects, regulatory timelines, and other statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations. Such risks and uncertainties include, among others, the inherent uncertainties associated with developing new products or technologies, regulatory approvals, unexpected expenditures, the ability to raise the additional funding needed to continue to pursue BioCardia’s business and product development plans, the ability to enter licensing and partnering arrangements and overall market conditions. We may find it difficult to enroll patients in our clinical trials due to many factors, some of which are outside of our control. Slower than targeted enrollment could delay completion of our clinical trials and delay or prevent the development of our therapeutic candidates. These forward-looking statements are made as of the date of this press release, and BioCardia assumes no obligation to update the forward-looking statements.

We may use terms such as “believes,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey the uncertainty of future events or outcomes to identify these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained herein, we caution you that forward-looking statements are not guarantees of future performance and that our actual results may differ materially from the forward-looking statements contained in this press release. As a result of these factors, we cannot assure you that the forward-looking statements in this press release will prove to be accurate. Additional factors that could materially affect actual results can be found in BioCardia’s Form 10-K filed with the Securities and Exchange Commission on March 24, 2026, under the caption titled “Risk Factors BioCardia expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law. 

BioCardia, Inc.
Condensed Consolidated Statements of Operations
(Unaudited In thousands, except share and per share amounts)
					Three Months ended September 30,							Nine Months ended September 30,
					2026			2025				2026			2025
Costs and expenses:
	Research and development			$	1,235		$	936			$	3,363		$	3,834
	Selling, general and administrative				600			552				2,361			2,431
		Total costs and expenses			1,835			1,488				5,724			6,265
		Operating loss			(1,835	)		(1,488	)			(5,724	)		(6,265	)
Other income (expense):
		Total other income, net			18			5				35			21
Net loss				$	(1,817	)	$	(1,483	)		$	(5,689	)	$	(6,244	)
Net loss per share, basic and diluted				$	(0.12	)	$	(0.24	)		$	(0.45	)	$	(1.17	)
Weighted-average shares used in computing
	net loss per share, basic and diluted				15,137,085			6,277,848				12,696,206			5,330,465

BioCardia, Inc.
Selected Balance Sheet Data
(amounts in thousands)
		September 30,			December 31,
		2026(1)			2025(1)
Assets:
Cash and cash equivalents	$	2,224		$	2,496
Other current assets		108			236
Property, plant and equipment and other noncurrent assets		739			681
Total assets	$	3,071		$	3,413
Liabilities and Stockholders’ Equity
Current liabilities	$	2,092		$	2,432
Operating lease liability – noncurrent		144			86
Total stockholders’ equity		835			895
Total liabilities and stockholders’ equity	$	3,071		$	3,413
(1)  September 30, 2026 amounts are unaudited. December 31, 2025 amounts were derived from the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission on March 24, 2026.

CONTACT: Media Contact:
Miranda Peto, Investor Relations
Email: mpeto@BioCardia.com
Phone: 650-226-0120

Investor Contact:
David McClung, Chief Financial Officer
Email: investors@BioCardia.com
Phone: 650-226-0120

– Company reports record U.S. YCANTH net product revenue of $5.7 million in Q3 2026, up 11.9% over the previous quarter and 57.9% year-over-year, and total revenue of $6.9 million –

– Enrollment completed in the first of two pivotal trials in the global Phase 3 common warts program, with topline data for each trial expected in Q1 2027 and mid-2027, respectively –

– Company achieved pre-defined revenue, growth and operational milestones under credit facility to unlock full access to $27.5 million of non-dilutive growth capital and further extend cash runway through data readout for both common warts trials –

– Company is now exploring the development of its oncolytic peptide, VP-315, for the treatment of patients with Gorlin syndrome, a rare genetic disease characterized by frequent emergence of basal cell carcinomas –

– Conference call scheduled for Thursday, November 12, 2026, at 4:30 pm ET –

WEST CHESTER, Pa., Nov. 12, 2026 (GLOBE NEWSWIRE) — Verrica Pharmaceuticals Inc. (“Verrica” or the “Company”) (Nasdaq: VRCA), a therapeutics company developing and commercializing medications for the treatment of dermatological diseases, including skin cancers, today announced financial results for the third quarter ended September 30, 2026.

“Verrica made progress in growing our commercial YCANTH business for molluscum contagiosum while advancing our late-stage pipeline for two of the most prevalent skin diseases, and extending our cash runway during the third quarter,” said Jayson Rieger, PhD, MBA, President and Chief Executive Officer of Verrica. “YCANTH had another record quarter for revenue, and we are now turning our focus to maximize conversion of written to filled prescriptions and ensuring optimal insurance coverage. The efforts that began earlier this year, most notably under our YCanthRx non-dispensing pharmacy option, have matured, and during the quarter we began realizing the benefits of these efforts with improvement in gross to net.”

Dr. Rieger continued, “We are also executing on our label expansion strategy for YCANTH into common warts. In August, we announced the completion of enrollment in the first pivotal trial of our global Phase 3 program in common warts after an interim analysis recommended that no additional patients were needed to power the trial. We have also enrolled more than 50% of the current patient target in the second pivotal trial, and we expect topline data from these trials in the first quarter of 2027 and mid-2027, respectively. Under our current operating plan, including finishing the global Phase 3 program in common warts, and the full utilization of our credit facility, we now have sufficient liquidity to fund operations through data readouts for both pivotal trials of the common warts program. With a prevalence of approximately 22 million patients in the U.S. alone and no FDA-approved prescription drug therapies, we believe that securing a label expansion for YCANTH into common warts could represent a multibillion-dollar commercial opportunity, if approved. Finally, we are now exploring the potential of VP-315 to treat patients with Gorlin syndrome, a rare disease that leads to dozens or hundreds of basal cell carcinomas over the patient’s lifetime, often presenting them with substantial surgical fatigue. We believe our foundational data in sporadic BCC provides promise for the potential benefit of VP-315 to Gorlin patients, and we will provide more details as the clinical protocol and anticipated timelines are finalized. We are excited about our future at Verrica, having built a solid commercial foundation to support promotion of YCANTH for molluscum which we can leverage upon any approval of YCANTH for common warts or VP-315 for BCC or Gorlin syndrome.”

Conference Call and Webcast Information

The Company will host a conference call on Thursday, November 12, 2026, at 4:30 pm ET, to discuss its third quarter 2026 financial results and provide a business update. To participate in the conference call, please use the following information:

Domestic Dial-In Number: Toll-Free: 1-833-419-0865
International Dial-In Number: 1-785-838-9333
Conference ID: VERRICA
Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1777570&tp_key=5f6b4ae4b1

The call will be broadcast live over the web and can also be accessed on Verrica’s website: www.verrica.com. A replay will be available for one month in the Events Calendar of the Investors section of the Company’s website.

Business Highlights and Recent Developments

YCANTH^® (VP-102)

• During the third quarter, the Company recorded YCANTH net product revenue of $5.7 million, up 11.9% over the previous quarter and 57.9% year-over-year, and total revenue of $6.9 million.
• During the third quarter, YCANTH dispensed applicator units totaled 19,135, representing a year-over-year increase of approximately 36% from the third quarter of 2025. On a sequential basis, YCANTH dispensed applicator units decreased approximately 2.5% from the prior quarter. We believe this decrease reflects summer travel seasonality, with both patients and providers.
• On September 30, 2026, the Company announced new pooled analysis data from its two registrational Phase 3 trials of YCANTH for molluscum. These data indicated that patients treated with YCANTH achieved complete clearance at a rate approximately four times faster than patients who were treated with a placebo, and three times as many YCANTH-treated patients achieved complete clearance at each treatment visit.
• On August 27, 2026, the Company announced completion of enrollment in the first pivotal Phase 3 trial (COVE-2) studying YCANTH for the treatment of common warts and greater than 50% enrollment in the second pivotal Phase 3 trial (COVE-3). Topline data readouts for the trials are expected in the first quarter of 2027 and mid-2027, respectively.
• On July 21, 2026, the Company announced an exclusive distribution, marketing and supply agreement with Medomie Pharma Ltd. regarding commercial rights for YCANTH for the treatment of molluscum contagiosum in Israel. The Company is working with Medomie to support their regulatory filing in Israel.

VP-315

• On September 10 and 30, 2026, the Company announced encore poster presentations at various scientific meetings.
• The Company is now exploring VP-315 for the treatment of patients with Gorlin syndrome, leveraging the extensive data from the completed Phase 2 study in sporadic BCC to this patient population with high disease burden and surgical fatigue, with no current FDA-approved products available for this indication. The Company is evaluating the potential study design and associated trial budget, and will update its business plan upon finalizing any study of VP-315 for the treatment of Gorlin syndrome

Corporate

• On October 22, 2026, the Company announced achievement of milestones unlocking access to the remaining $15.0 million of non-dilutive growth capital under its $27.5 million credit facility with an entity controlled by Paul B. Manning, the Company’s Chairman and largest shareholder. With this additional borrowing capacity, based on the Company’s current business plan, the Company believes that its cash runway will extend into the fourth quarter of 2027, without giving effect to any potential clinical trial costs related to the study of VP-315 for the treatment of Gorlin syndrome.

Financial Results

Third Quarter 2026 Financial Results

• Total revenue for the three months ended September 30, 2026, was $6.9 million compared to total revenue of $14.3 million for the three months ended September 30, 2025, which included a $10.0 million one-time milestone payment from Torii Pharmaceutical Co., Ltd., Verrica’s Japanese development partner.
• U.S. YCANTH product revenue, net was $5.7 million for the quarter ended September 30, 2026, compared to net product revenue of $3.6 million for the quarter ended September 30, 2025. The increase in product revenue, net, was primarily related to increased deliveries of YCANTH to our distribution partners as well as improved yield from reduced spending on our co-pay assistance program.
• License and collaboration revenue was $1.2 million for the quarter ended September 30, 2026, consisting primarily of commercial supply for Torii’s YCANTH launch in Japan, compared to license and collaboration revenue from Torii of $10.7 million for the three months ended September 30, 2025, which included $10.0 million of one-time milestone revenue, as well as $0.7 million of collaboration revenue for supplies and development activity with Torii.
• Costs of product revenue were $0.6 million for the quarter ended September 30, 2026, compared to $0.8 million for the quarter ended September 30, 2025, consisting primarily of product costs related to the sale of YCANTH.
• Selling, general and administrative expenses were $10.4 million for the quarter ended September 30, 2026, compared to $9.4 million for the same period in 2025. Excluding the impact of stock-based compensation, expenses were comparable to the prior period.
• Research and development expenses were $7.6 million for the quarter ended September 30, 2026, compared to $2.2 million for the same period in 2025. Excluding the impact of stock-based compensation, the increase of $5.2 million was primarily attributable to an increase of $3.7 million in non-cash costs associated with the Phase 3 program for common warts, in addition to an increase of $1.3 million in expenses related to chemistry, manufacturing and controls across YCANTH and VP-315. The expense for the Phase 3 common warts program did not impact Verrica’s cash balance, as the first $40 million of payments for this program, representing approximately 90% of the current estimated study costs, will be made by Torii under the Company’s collaboration and license agreement.
• Interest income was $45,000 for the quarter ended September 30, 2026, compared to $0.2 million for the quarter ended September 30, 2025. The decrease in interest income was primarily due to lower cash balances.
• Interest expense was $0.3 million for the quarter ended September 30, 2026, compared to $2.1 million for the same period in 2025. The decrease of $1.8 million was related to the settlement and termination of the Company’s OrbiMed debt facility in November 2025, partially offset by imputed interest on the R&D funding liability and $0.1 million of interest expense on term loans borrowed under the Company’s new credit facility with an affiliate of Paul B. Manning, the Company’s Chairman and largest shareholder.
• For the quarter ended September 30, 2026, net loss was $12.4 million, or $0.58 per share, compared to a net loss of $0.3 million, or $0.03 per share, for the same period in 2025.
• For the quarter ended September 30, 2026, non-GAAP net loss was $10.5 million, or $0.49 per share, compared to a non-GAAP net income of $1.1 million, or $0.12 per share, for the same period in 2025.

Non-GAAP Financial Measures

In evaluating the operating performance of its business, Verrica’s management considers non-GAAP income (loss) from operations, non-GAAP net income (loss) and non-GAAP net income (loss) per share. These non-GAAP financial measures exclude stock-based compensation expense and non-cash interest expense that are required by GAAP. Verrica excludes non-cash stock-based compensation expense from these non-GAAP measures to facilitate comparison to peer companies who also provide similar non-GAAP disclosures and because it reflects how management internally manages the business. In addition, Verrica excludes non-cash interest expense from these non-GAAP measures to facilitate an understanding of the effects of the debt service obligations on the Company’s liquidity and comparisons to peer group companies who also provide similar non-GAAP disclosures and because it is reflective of how management internally manages the business. Non-GAAP income (loss) from operations, non-GAAP net income (loss) and non-GAAP net income (loss) per share should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. These measures have been reconciled to the nearest GAAP measure in the tables following the financial statements in this press release.

About YCANTH^® (VP-102)

YCANTH^® is a proprietary drug-device combination product that contains a GMP-controlled formulation of cantharidin delivered via a single-use applicator that allows for precise topical dosing and targeted administration for the treatment of molluscum. YCANTH is the first and only healthcare professional-administered product approved by the FDA to treat adult and pediatric patients two years of age and older with molluscum contagiosum — a common, highly contagious skin disease that affects an estimated six million people in the United States, primarily children. Please visit YCANTHPro.com for additional information.

YCANTH is now approved for the treatment of molluscum contagiosum in Japan based upon an additional Phase 3 trial of approximately 300 patients. YCANTH is being studied in a global Phase 3 program in the U.S. and Japan for use in the treatment of common warts.

About VP-315 (ruxotemitide)

VP-315 is a potential first-in-class oncolytic chemotherapeutic peptide immunotherapy administered directly into a tumor to induce immunogenic cell death and thereby unleash a broad spectrum of tumor antigens for T cell responses, which may offer a non-surgical option for patients suffering from skin cancer. The technology is based on pioneering research in “host defense peptides” – nature’s first line of defense towards foreign pathogens. Verrica holds an exclusive worldwide license to develop and commercialize VP-315 for certain dermatologic oncology indications, including non-metastatic melanoma and non-metastatic Merkel cell carcinoma. Verrica has focused on basal cell and squamous cell carcinomas as the lead indications for development and is now exploring the development of VP-315 for the treatment of patients with Gorlin syndrome, a rare disease that causes recurrent basal cell carcinomas over the life of the patient. VP-315 has demonstrated positive tumor-specific immune cell responses in multi-indication Phase 1/2 oncology trials.

About Verrica Pharmaceuticals Inc.

Verrica is a therapeutics company developing and commercializing medications for the treatment of dermatological diseases, including skin cancers. Verrica’s product YCANTH^® (VP-102) (cantharidin), is the first and only healthcare professional-administered treatment approved by the FDA to treat adult and pediatric patients two years of age and older with molluscum contagiosum, a highly contagious viral skin infection affecting approximately 6 million people in the United States, primarily children. YCANTH^® (VP-102) is also in development to treat common warts, the largest remaining unmet need in medical dermatology. Verrica has also entered a worldwide license agreement with Lytix Biopharma ASA to develop and commercialize VP-315 (ruxotemitide, formerly known as LTX-315 and VP-LTX-315) for non-melanoma skin cancers including basal cell carcinoma and squamous cell carcinoma. For more information, visit www.verrica.com.

About Dispensed Applicator Units

Dispensed applicator units represent applicators (a) shipped to healthcare professionals from Verrica’s contracted pharmacy partners for fulfillment, (b) sold by Verrica’s distribution partners to independent and regional pharmacies, and (c) sold to physician offices, hospitals and other clinics on a buy and bill basis.

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “potential,” “will,” and similar expressions, and are based on Verrica’s current beliefs and expectations. These forward-looking statements include statements about the Company’s future commercial growth for YCANTH, the timing of topline data in the COVE-2 and COVE-3 trials, the potential approval of YCANTH in common warts, Verrica’s ability to borrow additional funds under the credit facility, Verrica’s cash runway, potential future payments pursuant to the agreement with Medomie, the clinical development and potential benefits of Verrica’s product candidates, including YCANTH (VP-102) and the Company’s exploration of development plans for VP-315 in BCC or Gorlin syndrome. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Risks and uncertainties that may cause actual results to differ materially include risks and uncertainties related to market conditions and other risks and uncertainties that are described in Verrica’s Annual Report on Form 10-K for the year ended December 31, 2025, Verrica’s Quarterly Reports on Form 10-Q and other filings Verrica makes with the SEC. Any forward-looking statements speak only as of the date of this press release and are based on information available to Verrica as of the date of this release, and Verrica assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.

VERRICA PHARMACEUTICALS INC.
Selected Statements of Operations Data
(in thousands except share and per share data)
(unaudited)
	Three Months Ended September 30,
		2026				2025
Revenue
Product revenue, net	$	5,697			$	3,607
License and Collaboration revenue		1,217				10,737
Total revenue		6,914				14,344
Operating Expenses:
Cost of product revenue		583				754
Cost of collaboration revenue		565				355
Selling, general and administrative		10,356				9,403
Research and development		7,577				2,205
Total expenses		19,081				12,717
(Loss) income from operations		(12,167	)			1,627
Interest income		45				159
Interest expense		(285	)			(2,094	)
Change in fair value of derivative liability		–				34
Net loss	$	(12,407	)		$	(274	)
Net loss per share
Basic and diluted	$	(0.58	)		$	(0.03	)
Weighted average common shares outstanding
Basic and diluted		21,305,025				9,490,083

VERRICA PHARMACEUTICALS INC.
Selected Statements of Operations Data
(in thousands except share and per share data)
(unaudited)
	Nine Months Ended September 30,
		2026				2025
Revenue
Product revenue, net	$	15,080			$	11,563
License and Collaboration revenue		2,719				18,922
Total revenue		17,799				30,485
Operating Expenses:
Cost of product revenue		1,562				1,517
Cost of collaboration revenue		1,353				523
Selling, general and administrative		30,694				27,103
Research and development		17,471				6,335
Legal settlement, net of insurance recovery		1,698				–
Total expenses		52,778				35,478
Loss from operations		(34,979	)			(4,993	)
Interest income		357				724
Interest expense		(609	)			(6,428	)
Change in fair value of derivative liability		–				886
Other expense		(11	)			(1	)
Net loss	$	(35,242	)		$	(9,812	)
Net loss per share
Basic and diluted	$	(1.65	)		$	(1.03	)
Weighted average common shares outstanding
Basic and diluted		21,305,025				9,489,173

VERRICA PHARMACEUTICALS INC.
Selected Balance Sheets Data
(in thousands)
(unaudited)
	September 30,				December 31,
		2026				2025
Cash	$	14,394			$	30,147
Accounts receivable		11,649				5,397
Deferred R&D services, current portion		1,491				1,958
Insurance recovery asset		2,333				–
Inventory		2,804				2,236
Prepaid expenses and other assets		3,728				2,801
Total current assets		36,399				42,539
Deferred R&D services, non-current portion		924				2,354
PP&E, Lease right-of-use asset, other		2,538				2,238
Total assets	$	39,861			$	47,131
Legal settlement liability	$	4,000			$	–
R&D funding liability		10,940				5,066
Term loans, net, related party		11,636				–
Other current and noncurrent liabilities		19,259				17,322
Total liabilities		45,835				22,388
Total stockholders’ (deficit) equity		(5,974	)			24,743
Total Liabilities & Stockholders’ (Deficit) Equity	$	39,861			$	47,131

VERRICA PHARMACEUTICALS INC.
Reconciliation of Non-GAAP Financial Measures (unaudited)
(in thousands, except share and per share data)
	Three Months Ended September 30, 2026
	Loss from Operations				Net loss				Net loss per share (basic and diluted)
GAAP	$	(12,167	)		$	(12,407	)		$	(0.58	)
Non-GAAP Adjustments:
Stock-based compensation – Selling, General & Admin (a)		1,420				1,420				0.07
Stock-based compensation – Research & Development (a)		465				465				0.02
Stock-based compensation – Cost of Product (a)		11				11				0.00
Stock-based compensation – Cost of Collaboration (a)		11				11				0.00
Non-cash interest expense (b)		–				4				0.00
Adjusted	$	(10,260	)		$	(10,496	)		$	(0.49	)

(a)  The effects of non-cash stock-based compensation are excluded because of varying available valuation methodologies and subjective assumptions. Verrica believes this is a useful measure for investors because such exclusion facilitates comparison to peer companies who also provide similar non-GAAP disclosures and is reflective of how management internally manages the business.

(b)  The effects of non-cash interest expenses are excluded because Verrica believes such exclusions facilitate comparisons to peer group companies and is reflective of how management internally manages the business.

	Three Months Ended September 30, 2025
	Income from Operations				Net (loss) income				Net (loss) income per share
GAAP	$	1,627			$	(274	)		$	(0.03	)
Non-GAAP Adjustments:
Stock-based compensation – Selling, General & Admin (a)		431				431				0.05
Stock-based compensation – Research & Development (a)		287				287				0.03
Derivative liability change in value (b)		–				(34	)			(0.00	)
Non-cash interest expense (b)		–				716				0.08
Adjusted	$	2,345			$	1,126			$	0.12

(a)  The effects of non-cash stock-based compensation are excluded because of varying available valuation methodologies and subjective assumptions. Verrica believes this is a useful measure for investors because such exclusion facilitates comparison to peer companies who also provide similar non-GAAP disclosures and is reflective of how management internally manages the business.

(b)  The effects of non-cash interest expenses and derivative liability change in value are excluded because Verrica believes such exclusions facilitate an understanding of the effects of the debt service obligation on the Company’s liquidity and comparisons to peer group companies and is reflective of how management internally manages the business.

VERRICA PHARMACEUTICALS INC.
Reconciliation of Non-GAAP Financial Measures (unaudited)
(in thousands, except share and per share data)
	Nine Months Ended September 30, 2026
	Loss from Operations				Net loss				Net loss per share (basic and diluted)
GAAP	$	(34,979	)		$	(35,242	)		$	(1.65	)
Non-GAAP Adjustments:
Stock-based compensation – Selling, General & Admin (a)		2,812				2,812				0.13
Stock-based compensation – Research & Development (a)		1,137				1,137				0.05
Stock-based compensation – Cost of Product (a)		33				33				0.00
Stock-based compensation – Cost of Collaboration (a)		35				35				0.00
Legal settlement, net of insurance recovery (b)		1,698				1,698				0.08
Non-cash interest expense (b)		–				4				0.00
Adjusted	$	(29,264	)		$	(29,523	)		$	(1.39	)

(a)  The effects of non-cash stock-based compensation are excluded because of varying available valuation methodologies and subjective assumptions. Verrica believes this is a useful measure for investors because such exclusion facilitates comparison to peer companies who also provide similar non-GAAP disclosures and is reflective of how management internally manages the business.

(b)  The effects of non-cash interest expenses and legal settlement, net of insurance recovery are excluded because Verrica believes such exclusions facilitate an understanding of the effects of the debt service obligation on the Company’s liquidity and comparisons to peer group companies and is reflective of how management internally manages the business.

	Nine Months Ended September 30, 2025
	Loss from Operations				Net loss				Net loss per share
GAAP	$	(4,993	)		$	(9,812	)		$	(1.03	)
Non-GAAP Adjustments:
Stock-based compensation – Selling, General & Admin (a)		1,804				1,804				0.19
Stock-based compensation – Research & Development (a)		828				828				0.09
Derivative liability change in value (b)						(886	)			(0.09	)
Non-cash interest expense (b)						2,075				0.22
Adjusted	$	(2,361	)		$	(5,991	)		$	(0.63	)

(a)  The effects of non-cash stock-based compensation are excluded because of varying available valuation methodologies and subjective assumptions. Verrica believes this is a useful measure for investors because such exclusion facilitates comparison to peer companies who also provide similar non-GAAP disclosures and is reflective of how management internally manages the business.

(b)  The effects of non-cash interest expenses and derivative liability change in value are excluded because Verrica believes such exclusions facilitate an understanding of the effects of the debt service obligation on the Company’s liquidity and comparisons to peer group companies and is reflective of how management internally manages the business.

FOR MORE INFORMATION, PLEASE CONTACT:

Investors:
John Kirby
Interim Chief Financial Officer
jkirby@verrica.com

Kevin Gardner
LifeSci Advisors
kgardner@lifesciadvisors.com

CAMBRIDGE, Mass., Nov. 12, 2026 (GLOBE NEWSWIRE) — Prime Medicine, Inc. (Nasdaq: PRME), a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, today announced the closing of its underwritten public offering of 41,071,428 shares of its common stock, which includes the full exercise of the underwriters’ option to purchase 5,357,142 additional shares of its common stock, at a public offering price of $3.50 per share. All of the shares of common stock in the offering were sold by Prime Medicine. The gross proceeds to Prime Medicine from the offering, before deducting underwriting discounts and commissions and offering expenses, were approximately $143.7 million.

Jefferies, TD Cowen and Goldman Sachs & Co. LLC acted as joint book-running managers for the offering. Oppenheimer & Co. and LifeSci Capital acted as passive book-running managers for the offering.

The shares of common stock were offered by Prime Medicine pursuant to a shelf registration statement on Form S-3ASR (File No. 333-291348) filed with the U.S. Securities and Exchange Commission (SEC) on November 7, 2025, as amended by that certain Post-Effective Amendment No. 1 to Form S-3 (No. 333-291348) and that certain Post-Effective Amendment No. 2 to Form S-3 (No. 333-291348), each filed with the SEC on March 3, 2026, and declared effective by the SEC on March 4, 2026. The offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement relating to and describing the terms of the offering was filed with the SEC and is available on the SEC’s website at www.sec.gov.

Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; TD Securities (USA) LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at TDManualrequest@broadridge.com or Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Prime Medicine

Prime Medicine is a leading biotechnology company dedicated to creating and delivering the next generation of gene editing therapies to patients. The Company is deploying its proprietary Prime Editing platform, a versatile, precise and efficient gene editing technology, to develop a new class of differentiated one-time curative genetic therapies. Prime Editors are designed to make only the right edit at the right position within a gene while minimizing unwanted DNA modifications.

Prime Medicine is currently progressing a diversified portfolio of investigational therapeutic programs organized around its core areas of focus: liver, lung, and immunology and oncology. Across each core area, Prime Medicine is focused initially on a set of high-value programs, each targeting a disease with well-understood biology and a clearly defined clinical development and regulatory path.

© 2026 Prime Medicine, Inc. All rights reserved. PRIME MEDICINE, the Prime Medicine logos, and PASSIGE are trademarks of Prime Medicine, Inc. All other trademarks referred to herein are the property of their respective owners.

Investor and Media Contacts
Gregory Dearborn
Prime Medicine
857-209-0696
gdearborn@primemedicine.com

Hannah Deresiewicz
Precision AQ
212-362-1200
hannah.deresiewicz@precisionaq.com

MIAMI, Nov. 12, 2026 (GLOBE NEWSWIRE) — InspireMD, Inc. (Nasdaq: NSPR) (“InspireMD” or the “Company”), developer of the CGuard^® Prime carotid stent system for the prevention of stroke, today announced that it has commenced a proposed public offering of (i) shares of its common stock, (ii) in lieu of common stock to certain investors, pre-funded warrants to purchase shares of its common stock, and (iii) accompanying common warrants to purchase shares of its common stock or pre-funded warrants in lieu thereof to purchase shares of its common stock. All securities in the proposed offering are being offered by InspireMD.

In addition, the Company intends to grant the underwriters a 30-day option to purchase additional shares of the Company’s common stock and/or pre-funded warrants and/or additional common stock warrants to purchase shares of common stock or pre-funded warrants in lieu thereof to purchase shares of its common stock (or any combination thereof), representing 15% of the total number of shares of common stock and pre-funded warrants sold in the offering, solely to cover over-allotments, if any.

The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Lake Street Capital Markets is acting as the sole book runner for the proposed offering.

InspireMD intends to use the net proceeds from the proposed offering, if any, for research and development, sales and marketing, working capital and other general corporate purposes.

The securities are being offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-286309) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 1, 2025, and declared effective by the SEC on April 10, 2025. A preliminary prospectus supplement and accompanying base prospectus relating to the proposed offering will be filed with the SEC and, when available, may be obtained free of charge at www.sec.gov.  When available, copies of the preliminary prospectus supplement and the accompanying base prospectus relating to the offering may be obtained from Lake Street Capital Markets, LLC at 121 South Eighth Street, Suite 1000, Minneapolis, MN 55402, or e-mail at prospectus@lakestreetcm.com. The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About InspireMD, Inc.

InspireMD seeks to utilize its proprietary MicroNet ™ mesh technology to make its products the industry standard for carotid stenting by providing outstanding acute results and durable, stroke-free long-term outcomes. InspireMD’s common stock is quoted on Nasdaq under the ticker symbol NSPR. We routinely post information that may be important to investors on the Company’s website. For more information, please visit www.inspiremd.com.

Forward-looking Statements

This press release contains “forward-looking statements.” Forward-looking statements include, but are not limited to, statements regarding InspireMD or its management team’s expectations, hopes, beliefs, intentions or strategies regarding future events, future financial performance, strategies, expectations, competitive environment and regulation. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential”, “scheduled” or similar words.

In particular, forward-looking statements in this press release include the Company’s expectations regarding the proposed public offering, including its anticipated timing, size, terms and completion, and the intended use of proceeds from the offering. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements.

Such risks and uncertainties include, without limitation, risks associated with the proposed public offering, including market conditions, the possibility that the offering may not be completed on the anticipated terms or at all, and the Company’s ability to deploy any proceeds from the offering as intended; risks and uncertainties associated with the voluntary U.S. recall of the CGuard Prime 135 cm delivery system, including current and future costs associated with the recall, including refunds or inventory write-off costs and other remediation costs, loss of sales and customers due to the recall or otherwise, our ability to effectively implement enhancements to CGuard Prime 135 cm delivery system, potential actions by regulators or other governmental entities associated with the recall, potential claims and lawsuits by customers and patients, including class action product liability lawsuits, other operational impacts and consequences of the recall, such as business disruption and distraction of management and other key employees; the Company’s history of recurring losses and negative cash flows from operating activities, significant future commitments and the uncertainty regarding the adequacy of its liquidity to pursue its complete business objectives, and substantial doubt regarding its ability to continue as a going concern; the Company’s need to raise additional capital to meet its business requirements in the future and such capital raising may be costly or difficult to obtain and could dilute our stockholders’ ownership interests; the clinical development, commercialization and market acceptance of the Company’s products; whether the clinical trial results for the Company’s products will be predictive of real-world results; an inability to secure and maintain regulatory approvals for the sale of the Company’s products; negative clinical trial results or lengthy product delays in key markets; the Company’s ability to maintain compliance with the Nasdaq listing standards; the Company’s ability to generate significant revenues from its products; estimates of the Company’s expenses, future revenues, capital requirements and its needs for and ability to access sufficient additional financing, including any unexpected costs or delays in the ongoing commercial launch of its products; the Company’s dependence on a single manufacturing facility and its ability to comply with stringent manufacturing quality standards and to increase production as necessary; the risk that the data collected from the Company’s current and planned clinical trials may not be sufficient to demonstrate that its technology is an attractive alternative to other procedures and products; intense competition in the Company’s industry, with competitors having substantially greater financial, technological, research and development, regulatory and clinical, manufacturing, marketing and sales, distribution and personnel resources than it does; entry of new competitors and products and potential technological obsolescence of the Company’s products; inability to carry out research, development and commercialization plans; loss of a key customer or supplier; technical problems with the Company’s research and products and potential product liability claims; product malfunctions; price increases for supplies and components; whether access to the Company’s products is achieved in a commercially viable manner and whether its products receive adequate reimbursement by governmental and other third-party payers; the Company’s efforts to successfully obtain and maintain intellectual property protection covering its products, which may not be successful; adverse federal, state and local government regulation, in the United States, Europe or Israel and other foreign jurisdictions; the fact that the Company conducts business in multiple foreign jurisdictions, exposing it to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction; security, political and economic instability in the Middle East that could harm the Company’s business, including due to the current security situation in Israel; current or future unfavorable economic and market conditions and adverse developments with respect to financial institutions and associated liquidity risk; and changes in tariffs, trade barriers, price and exchange controls and other regulatory requirements and the impact of such policies on the Company, its customers and suppliers, and the global economic environment.

More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Investor Contact

Investor Contacts:

Jeff Warren

LifeSci Advisors

jwarren@lifesciadvisors.com

investor-relations@inspiremd.com

Maroussi, Greece – November 12, 2026 – Pyxis Tankers Inc. (Nasdaq Capital Market: PXS) (the “Company” or “Pyxis Tankers”), an international shipping company, today announced that it has entered into an agreement to sell the Pyxis Karteria, a 46,652 dwt MR product tanker built in 2013 at Hyundai Mipo, to an unaffiliated buyer for a sale price of $37.0 million.

The sale of the Company’s oldest vessel is expected to generate a one-time gain of approximately $21.0 million, or approximately $2.05 per share, based on approximately 10.2 million shares outstanding. The sale price compares with an estimated carrying value of approximately $15.6 million at delivery. The Company expects to sell and deliver the vessel and recognize the estimated gain in the fourth quarter of 2026.

After repayment of approximately $10.7 million of the outstanding debt secured by the vessel and payment of transaction expenses, the transaction is expected to generate net cash proceeds of approximately $25.9 million, providing additional capacity for fleet expansion and renewal.

Delivery to the buyer is expected between November 20 and December 20, 2026, subject to customary closing conditions. The final gain and cash proceeds will depend on the timing of completion and customary closing adjustments.

The Company acquired the vessel in July 2021 for $20.0 million, when it was approximately 8.3 years old. Including cumulative cash flow after debt service, net refinancing proceeds and the expected net proceeds from the sale, the Company expects total cash proceeds to equal approximately 6.3 times its initial equity investment.

Eddie Valentis, Chairman and Chief Executive Officer of Pyxis Tankers, commented:

“This sale allows us to capitalize on strong tanker asset values and realize a substantial gain on our oldest vessel. We believe the price is particularly attractive when considered against both current newbuilding costs, adjusted for the vessel’s age, and its earnings potential through the cycle. Our analysis of the vessel’s remaining cash flows, taking into account operating costs, future capital requirements and market risks, supports our view that the sale offers an attractive opportunity to realize value today.

“The transaction strengthens our capacity to expand and renew our fleet. We will seek opportunities to acquire younger vessels offering a more attractive relationship between purchase price and expected earnings. We will remain disciplined and selective, pursuing opportunities that meet our risk-adjusted return requirements. Our objective is to drive long-term growth in earnings and net asset value per share.”

About Pyxis Tankers Inc.

Pyxis Tankers Inc. currently owns a modern fleet of six mid-sized eco-vessels engaged in the seaborne transportation of refined petroleum products and dry-bulk commodities, consisting of three MR product tankers, one Kamsarmax bulk carrier and controlling interests in two dry-bulk joint ventures that own a sister-ship Kamsarmax and an Ultramax vessel. Following delivery of the Pyxis Karteria, the Company’s fleet will consist of five vessels, including two MR product tankers. The Company is positioned to opportunistically expand and renew its fleet of eco-efficient vessels due to its capital resources, competitive cost structure, strong customer relationships and experienced management team whose interests are aligned with shareholders.

Investor Presentation

An investor presentation with additional information on the transaction, including market context, valuation benchmarks, illustrative financial impact and hold-versus-sell return sensitivities, is available on the Company’s website at www.pyxistankers.com.

Forward-Looking Statements

This press release and the related investor presentation include forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995 in order to encourage companies to provide prospective information about their business. Forward-looking statements include, without limitation, statements regarding the Company’s expectations, objectives, plans, strategies, future events or performance, vessel employment, market conditions, geopolitical developments, shipping market fundamentals and other statements that are not historical facts. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including the satisfaction of closing conditions, delays in delivery, buyer performance, closing adjustments, changes in vessel values and charter rates, and the Company’s ability to identify and acquire vessels on acceptable terms. For more information about these and other risks and uncertainties, please refer to the Company’s filings with the U.S. Securities and Exchange Commission, including under the caption “Risk Factors” in its Annual Report on Form 20-F for the fiscal year ended December 31, 2025. You should not place undue reliance on any forward-looking statements, which are made as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by law.

Company

Pyxis Tankers Inc.
59 K. Karamanli Street, Maroussi, 15125 Greece

Visit our website at https://www.pyxistankers.com

Company Contact

Fotis Giannakoulis
Chief Financial Officer
Tel: +1 917 291 7142 / +30 (210) 638 0200  
Email: ir@pyxistankers.com

In accordance with articles L.233-8 II of the French Commercial Code and 223-16 of the General Regulation of the French Financial Markets Authority (Autorité des Marchés Financiers)

PARIS, Nov. 12, 2026 (GLOBE NEWSWIRE) —
Market: Euronext Paris / Nasdaq
Euronext Compartment: B
ISIN code: FR0011341205
Nasdaq: NBTX
Bloomberg: NANO:FP
Reuters: NANO.PA
Website: www.nanobiotix.com

Date	Number of Shares Outstanding	Total number of voting rights
		Total voting rights, theoretical1	Total voting rights, exercisable2
October 31, 2026	50,968,893	54,726,179	54,704,061

About NANOBIOTIX

Nanobiotix is a late-stage clinical biotechnology company pioneering disruptive, physics-based therapeutic approaches to revolutionize treatment outcomes for millions of patients; supported by people committed to making a difference for humanity. The Company’s philosophy is rooted in the concept of pushing past the boundaries of what is known to expand possibilities for human life.

Incorporated in 2003, Nanobiotix is headquartered in Paris, France and is listed on Euronext Paris since 2012 and on the Nasdaq Global Select Market in New York City since December 2020. The Company has a subsidiary in Cambridge, Massachusetts (United States).

Nanobiotix is the owner of more than 30 patent families associated with three (3) nanotechnology platforms with applications in 1) oncology; 2) bioavailability and biodistribution; and 3) disorders of the central nervous system.

For more information about Nanobiotix, visit us at www.nanobiotix.com or follow us on LinkedIn and Twitter.

_________________________________

_{¹ The total number of theoretical (or “gross”) voting rights is used as the basis for calculating threshold crossings. In accordance with Article 223-11 of the AMF General Regulations, this number is calculated on the basis of all shares to which voting rights are attached, including those for which voting rights have been suspended.}

_{² The total number of exercisable at a shareholders’ meeting (or “net”) voting rights is calculated without taking into account shares for which voting rights have been suspended as shares held in treasury by the Company. It is released in order to ensure that the public is properly informed.}

Contacts

Nanobiotix
Communications Department Brandon Owens VP, Communications +1 (617) 852-4835 contact@nanobiotix.com	Investor Relations Department Joanne Choi VP, Investor Relations (US) +1 (713) 609-3150 Ricky Bhajun Director, Investor Relations (EU) investors@nanobiotix.com
Media Relations
France – HARDY Caroline Hardy +33 06 70 33 49 50 carolinehardy@outlook.fr	Global – uncapped Becky Lauer +1 (646) 286-0057 uncappednanobiotix@uncappedcommunications.com

Attachments

• 20261112-Nanobiotix-PR_Voting_Rights_oct_2026

KUALA LUMPUR, MALAYSIA, Nov. 12, 2026 (GLOBE NEWSWIRE) — Bio Green Med Solution, Inc. (NASDAQ: BGMS; “BGMS” or the “Company”), a diversified company engaged primarily in the provision of fire safety protection and distribution activities, today announced third quarter financial results and provided a business update.

Highlights of the third quarter ended September 30, 2026, or in some cases shortly thereafter, include:

• In October, the Company’s previously filed Form S-4, detailing the Company’s proposed Business Combination Agreement with Future NRG Sdn. Bhd., a Malaysia private limited company, was declared effective. The Company is planning to hold a Special Meeting in November 2026 to obtain shareholder approval for the proposed Business Combination.
• In October, the Board of Directors of the Company declared a quarterly cash dividend of $0.15 per share on the Company’s 6% Convertible Exchangeable Preferred Stock, which cash dividend was paid on November 1, 2026, to holders of record as of the close of business on October 26, 2026.

“During the third quarter, our fire safety business generated $454,000 in product revenue, compared to $81,000 in the prior-year period, and yielded a gross margin of approximately 25%, while our net loss narrowed to $0.4 million from $1.0 million in the prior-year period,” said Datuk Dr. Doris Wong Sing Ee, Chief Executive Officer and Executive Director. “We also reduced general and administrative expenses by 37% year over year and ended the quarter with $3.5 million in cash and cash equivalents. We remain focused on executing in Malaysia’s fire safety market and on working toward the completion of our proposed business combination with Future NRG, which remains subject to the closing conditions and termination rights set forth in the Business Combination Agreement.”

Financial Highlights

As of September 30, 2026, cash and cash equivalents totaled $3.5 million, compared to $3.5 million as of December 31, 2025.

Net cash used in operating activities was $0.9 million for the nine months ended September 30, 2026. The Company estimates that its current cash resources will fund planned expenditure into the second quarter of 2027.

Following the acquisition of Fitters Sdn. Bhd. on September 12, 2025, product revenue from sales and distribution of fire safety equipment was $454,000 for the three months ended September 30, 2026, compared to $81,000 for the same period in the prior year.

Cost of sales related to sales and distribution of fire safety equipment was $339,000 for the three months ended September 30, 2026, yielding a gross margin of approximately 25%, compared to $64,000 for the same period in the prior year, yielding a gross margin of approximately 21%.

General and administrative expenses decreased by approximately $0.4 million from $1.0 million for the three months ended September 30, 2025 to $0.6 million for the three months ended September 30, 2026, due to regulatory filings and acquisition costs associated with the Fitters acquisition in the prior period.

Total other income, net, for the three months ended September 30, 2026, increased by approximately $70,000 from $4,000 for the three months ended September 30, 2025 to $74,000 for the three months ended September 30, 2026, due largely to interest income.

Income tax provision for the three months ended September 30, 2026, increased by approximately $3,000, from $0 for the three months ended September 30, 2025 to $3,000 for the three months ended September 30, 2026 and related to our fire safety business, acquired in September 2025.

Net loss from discontinued operations was $5,000 for the three months ended September 30, 2025 and is related to our former operations from biopharmaceutical activities. There was no activity from discontinued operations in the current period.

Net loss for the three months ended September 30, 2026, was $0.4 million, compared to $1.0 million for the same period in 2025.

About Bio Green Med Solution, Inc.

BGMS is a diversified company that was formerly engaged in the biopharmaceutical industry but as of September 2025 has shifted its operations to focus on provision of fire safety protection and distribution activities. Specifically, on September 12, 2025, the Company completed its acquisition of Fitters Sdn. Bhd., a Malaysia-based group specializing in fire protection products and services. The Company is now focused on advancing opportunities across these distinct sectors whilst maintaining its commitment to driving long-term value creation for shareholders. For additional information, please visit www.bgmsglobal.com.

Forward-looking Statements

Except for historical information, certain matters discussed in this press release may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or our future financial performance and involve various assumptions, known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by words such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or other comparable words. Actual results, performance or outcomes may differ materially from those expressed or implied by these forward-looking statements and may not align with historical performance and events due to a number of factors, including those discussed in the sections of our annual report on Form 10-K entitled “Cautionary Statement Regarding Forward-Looking Statements” and “Risk Factors,” and those discussed in our Form 10-Q quarterly reports filed after such annual report. BGMS’s SEC filings are readily obtainable at no charge at www.sec.gov, as well as on its own investor relations website at https://investor.bgmsglobal.com/sec-filings. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements, and caution should be exercised against placing undue reliance upon such statements, which are based only on information currently available to us and speak only as of the date hereof. We are under no duty to update publicly any of the forward-looking statements after the date of this earnings press release, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE:
Bio Green Med Solution, Inc.
info@bgmsglobal.com

BIO GREEN MED SOLUTION, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (LOSS)
(In $000s, except share and per share amounts)

		Three Months Ended
		September 30,
		2026				2025
Revenues:
Product revenue – fire safety		$	454			$	81
Revenues		$	454			$	81
Operating expenses:
Cost of sales			339				64
General and administrative			635				1,004
Total operating expenses			974				1,068
Operating loss			(520	)			(987	)
Other income (expense):
Foreign exchange (losses)			(3	)			(14	)
Interest income			44				9
Other income, net			33				9
Total other income, net			74				4
Loss from continuing operations before taxes			(446	)			(983	)
Income tax provision			(3	)			–
Net loss from continuing operations			(449	)			(983	)
Discontinued operations:
Operating losses from discontinued operations			–				(5	)
Net income from discontinued operations			–				(5	)
Net loss			(449	)			(988	)
Dividend on convertible exchangeable preferred shares			(20	)			(21	)
Deemed dividend on warrant exchange			–				(1,494	)
Net loss applicable to common shareholders		$	(469	)		$	(2,503	)
Basic and diluted earnings per common share:
Net loss per share, continuing operations – basic and diluted (common shareholders)		$	(0.07	)		$	(1.31	)
Net income per share, discontinued operations – basic and diluted (common shareholders)		$	(0.00	)		$	(0.00	)
Net loss per share – basic and diluted (common shareholders)		$	(0.07	)		$	(1.31	)
Weighted average common shares outstanding			6,622,794				1,912,495

BIO GREEN MED SOLUTION, INC.
CONSOLIDATED BALANCE SHEET
(In $000s, except share, per share, and liquidation preference amounts)

		September 30,				December 31,
		2026				2025
ASSETS
Current assets:
Cash and cash equivalents		$	3,454			$	3,505
Accounts receivable			974				1,257
Inventory			991				1,384
Prepaid expenses and other current assets			158				110
Total current assets			5,577				6,256
Property and equipment, net Property and equipment, net			134				137
Right-of-use lease asset			5				12
Goodwill			1,570				1,570
Property and equipment, net Non-current assets			192				210
Total assets		$	7,478			$	8,185
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	181			$	617
Accrued and other current liabilities			634				715
Total current liabilities			815				1,332
Lease liability			–				2
Other liabilities			2				9
Total liabilities			817				1,343
Stockholders’ equity			6,661				6,842
Total liabilities and stockholders’ equity		$	7,478			$	8,185

– Third Quarter Revenue Increases 167% Year over Year, Continuing Streak of Consecutive Quarterly Growth
– Year-to-Date Revenue Exceeds Full-Year 2025 Results
– Conference Call Today at 4:30 p.m. Eastern Time

SAN JOSE, Calif., Nov. 12, 2026 (GLOBE NEWSWIRE) — Energous Corporation d/b/a Energous Wireless Power Solutions (Nasdaq: WATT) (“Energous,” the “Company,” “we,” or “our”), a pioneer in scalable, over-the-air wireless power networks, today announced financial results for the third quarter ended September 30, 2026, reporting revenue of approximately $3.4 million, more than doubling revenue reported for the same prior year period. Revenue for the nine months ended September 30, 2026 was $9.6 million, a 270% increase over the same prior year period, and exceeding the revenue recorded for the full year of 2025. The Company also provided an update on recent events and Company highlights.

“Our third quarter results reflect continued momentum in the commercial adoption of Energous’ technology, with revenue growing significantly year over year and our year-to-date revenue performance already surpassing full-year 2025,” said Mallorie Burak, CEO and CFO of Energous. “We also made meaningful progress in improving gross margins as we continue to scale production to better support customer demand. Looking ahead, we see significant opportunity to build on this momentum as enterprises increasingly recognize the value of continuous, real-time visibility into their operations. By enabling businesses to better understand where their assets are, how they are moving, and what is happening across their environments, we are building the foundation for more intelligent, data-driven decision-making and automation.”

Third Quarter 2026 Financial Results

• Revenue for the three and nine months ended September 30, 2026 was approximately $3.4 million and $9.6 million, respectively, versus approximately $1.3 million and $2.6 million, respectively, in the same periods in 2025, a 167% and 270% improvement over the same prior year periods. Third quarter 2026 revenue improved 10% over the second quarter of 2026. Year to date 2026 revenue through September 30 exceeded our full year’s revenue reported for 2025 of $5.6 million, representing a 70% improvement over the prior full year results through the first three quarters of 2026 and nearing a third consecutive year of year-over-year revenue growth.
• For the three and nine months ended September 30, 2026, gross profit was $0.5 million and $1.7 million, respectively, representing a 5% and 88% increase versus the same prior year periods. Gross margins were 14% and 17%, respectively, for the three and nine months ended September 30, 2026, reflecting near-term costs associated with ramping production of updated products to fulfill customer demand.
  • Gross margin improved from 3% in the second quarter of 2026 to 14% for the third quarter of 2026. As our offshore contract manufacturer ramps production, we expect gross margins will continue to show improvement in the fourth quarter and into 2027.
  • The Company has maintained its quality performance record, with zero product returns for over two years since commercial production of its PowerBridge Pro began in 2024. Ensuring the highest level of product quality remains a key priority for the Company as we work toward widespread adoption of our technology.
• GAAP operating expenses for the third quarter of 2026 totaled $3.2 million versus $2.6 million for the same period in 2025.
• GAAP net loss and GAAP loss per share were approximately $2.5 million, or $0.45 per basic and diluted share, for the third quarter of 2026, versus the net loss and loss per share of approximately $2.1 million, or $1.31 per basic and diluted share, for the third quarter of 2025.
• Non-GAAP operating expenses¹ for the third quarter of 2026 were approximately $2.9 million, increasing from $2.6 million in the same prior year period.
• Non-GAAP net loss¹ was approximately $2.1 million for the third quarter of 2026 versus non-GAAP net loss of approximately $2.0 million for the same prior year period. For the nine months ended September 30, 2026, the non-GAAP net loss was $6.5 million versus $7.1 million during the first nine months of 2025.
• Approximately $28.8 million in cash and cash equivalents as of September 30, 2026.

Company Highlights and Updates

• Scale — Since the PowerBridge transmitter began shipping in 2024 through September 30, 2026, Energous has shipped over 69,500 transmitters, primarily driven by demand for the 2W PowerBridge Pro. The pronounced increase in quarterly shipments beginning in the fourth quarter of 2025 demonstrates the shift from supporting market validation to commercial adoption of the Company’s wireless power network solutions for Ambient IoT.
• Regulatory Certification — On July 29, 2026, we announced that we had received FCC certification for the PowerBridge Pro+, advancing commercialization of our end-to-end wireless power solution. The PowerBridge Pro+ combines high-power RF wireless power delivery with integrated BLE gateway functionality in a single infrastructure device, delivering over-the-air power to compatible ambient IoT devices, such as our patented e-Sense battery-free sensor. Integrated with the Energous e-Compass SaaS platform, it enables centralized monitoring, analytics, configuration, and control across enterprise IoT deployments. This significant milestone allows for commercialization of Energous’ end-to-end solution. The press release can be viewed here.
• Enterprise Adoption and Market Expansion — Energous continues to advance enterprise opportunities across retail logistics, manufacturing, and cold-chain applications. The Company’s strategic focus is on converting existing deployments and pilot programs into broader enterprise rollouts, while expanding use cases around real-time inventory visibility, asset tracking, and condition monitoring.
• Next-Generation Sensing Architecture — Energous is advancing its next-generation e-Sense roadmap through ultra-low-power semiconductor technologies and strategic ecosystem partnerships, with the objective of improving battery-free sensor capabilities, economics, and deployment scalability.
• e-Compass and Physical Data Intelligence — Energous is expanding its e-Compass platform toward AI-assisted infrastructure management, enterprise APIs, real-time event processing, and trusted physical-data services. These initiatives support the Company’s longer-term objective of becoming a foundational infrastructure provider for enterprise Physical AI applications.
• Strategic Partnerships and Recurring Revenue — Energous is pursuing deeper integration with enterprise IoT and supply chain software ecosystems while evaluating additional recurring revenue opportunities through infrastructure management, data services, and advanced analytics.

Webcast and Conference Call Information

A conference call is scheduled for 4:30 p.m. Eastern Time this afternoon, November 12, 2026, to review the third quarter results and provide an update on recent corporate highlights. The call will be via webcast, and interested parties may access the call using this LINK. Information about the call and a webcast replay will be available after the conference call at http://ir.energous.com/.

_______________
¹ See “Non-GAAP Financial Measures” below for additional information.

About Energous Wireless Power Solutions

Energous Corporation d/b/a Energous Wireless Power Solutions (NASDAQ: WATT) is pioneering scalable, over-the-air wireless power networks that enable unprecedented levels of visibility, control, and intelligent business automation. The Company’s wireless power transmitter and receiver technologies deliver continuous access to wireless power, helping drive a new generation of battery-free devices for asset and inventory tracking and management—from retail sensors, electronic shelf labels, and asset trackers to air quality monitors, motion detectors, and more. For more information, visit http://www.energous.com/ or follow on LinkedIn.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements may describe our future plans and expectations and are based on the current beliefs, expectations and assumptions of Energous. These statements generally use terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or similar terms. Examples of forward-looking statements in this release include but are not limited to statements about our financial results, expected company growth, and operational initiatives. Factors that could cause actual results to differ from current expectations include: uncertain timing of necessary regulatory approvals; timing of customer product development and market success of customer products; our dependence on distribution partners; the loss of a significant customer; and intense industry competition. We urge you to consider those factors, and the other risks and uncertainties described in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission (SEC), any subsequently filed quarterly reports on Form 10-Q as well as in other documents that may have been subsequently filed by Energous, from time to time, with the SEC, in evaluating our forward-looking statements. In addition, any forward-looking statements represent Energous’ views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Energous does not assume any obligation to update any forward-looking statements unless required by law.

Non-GAAP Financial Measures

We have provided in this release financial information that has not been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). We use non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends, and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures below.

Our reported results include certain non-GAAP financial measures, including non-GAAP net loss, non-GAAP operating expenses, non-GAAP sales, marketing, general and administrative expenses (SG&A) and non-GAAP research and development expenses (R&D). Non-GAAP net loss excludes depreciation and amortization, stock-based compensation expense, severance expense, expenses from abandoned financing transaction, and change in fair value of warrant liability. Non-GAAP operating expenses exclude depreciation and amortization, stock-based compensation expense, and severance expenses, and expenses from abandoned financing transaction. Non-GAAP SG&A excludes depreciation and amortization and stock-based compensation expense. Non-GAAP R&D excludes depreciation and amortization and stock-based compensation expense. A reconciliation of our non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release.

Contacts:
Investor Relations
IR@energous.com

Media Relations
samantha@griffin360.com

Energous Corporation
CONDENSED BALANCE SHEETS
(Unaudited)
(in thousands)
	As of
	September 30, 2026				December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$	28,830			$	10,401
Accounts receivable		3,474				2,988
Inventory		4,550				1,509
Prepaid expenses and other current assets		4,855				422
Total current assets		41,709				15,320
Property and equipment, net		517				298
Other assets		429				252
Operating lease right-of-use lease assets		565				872
Total assets	$	43,220			$	16,742
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	2,111			$	954
Accrued expenses		2,233				2,095
Operating lease liabilities, current portion		563				491
Short-term loan payable		195				88
Deferred revenue		82				27
Total current liabilities		5,184				3,655
Operating lease liabilities, long-term portion		152				589
Total liabilities		5,336				4,244
Stockholders’ equity:
Common stock		1				1
Additional paid-in capital		454,993				422,530
Accumulated deficit		(417,110	)			(410,033	)
Total stockholders’ equity		37,884				12,498
Total liabilities and stockholders’ equity	$	43,220			$	16,742

Energous Corporation
CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)
(in thousands, except share and per share amounts)
	For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2026				2025				2026				2025
Revenue, net	$	3,400			$	1,272			$	9,571			$	2,590
Cost of net revenue		2,921				814				7,903				1,701
Gross profit		479				458				1,668				889
Operating expenses:
Research and development		1,182				897				3,331				3,189
Sales and marketing		547				499				1,716				1,792
General and administrative		1,511				1,245				4,352				3,426
Severance expense		–				8				69				403
Expenses from abandoned financing transaction		–				–				–				661
Total operating expenses		3,240				2,649				9,468				9,471
Loss from operations		(2,761	)			(2,191	)			(7,800	)			(8,582	)
Other income (expense), net:
Change in fair value of warrant liability		–				(10	)			–				257
Interest income, net		251				88				723				59
Loss on retirement of fixed asset		–				–				–				(1	)
Total other income (expense), net		251				78				723				315
Net loss	$	(2,510	)		$	(2,113	)		$	(7,077	)		$	(8,267	)
Basic and diluted net loss per common share	$	(0.45	)		$	(1.31	)		$	(1.42	)		$	(6.61	)
Weighted average shares outstanding, basic and diluted		5,527,072				1,610,246				4,978,691				1,251,192

Energous Corporation
Reconciliation of Non-GAAP Information
(Unaudited)
(in thousands)
	For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2026				2025				2026				2025
Net loss (GAAP)	$	(2,510	)		$	(2,113	)		$	(7,077	)		$	(8,267	)
Add (subtract) the following items:
Depreciation and amortization		55				25				131				111
Stock-based compensation *		308				40				420				232
Severance expense		–				8				69				403
Expenses from abandoned financing transaction		–				–				–				661
Change in fair value of warrant liability		–				10				–				(257	)
Adjusted non-GAAP net loss	$	(2,147	)		$	(2,030	)		$	(6,457	)		$	(7,117	)
* Stock-based compensation excludes $16 which is included in severance expense for the nine months ended September 30, 2025.
Total operating expenses (GAAP)	$	3,240			$	2,649			$	9,468			$	9,471
Subtract the following items:
Depreciation and amortization *		(54	)			(25	)			(130	)			(111	)
Stock-based compensation **		(308	)			(40	)			(420	)			(231	)
Severance expense		–				(8	)			(69	)			(403	)
Expenses from abandoned financing transaction		–				–				–				(661	)
Adjusted non-GAAP operating expenses	$	2,878			$	2,576			$	8,849			$	8,065
* Depreciation and amortization excludes $1 which is included in cost of net revenue for the three and nine months ended September 30, 2026.
** Stock-based compensation excludes $16 which is included in severance expense for the nine months ended September 30, 2025.
Stock-based compensation excludes $1 which is included in cost of net revenue for the nine months ended September 30, 2025.
Total research and development expenses (GAAP)	$	1,182			$	897			$	3,331			$	3,189
Subtract the following items:
Depreciation and amortization		(52	)			(22	)			(122	)			(104	)
Stock-based compensation		(25	)			(16	)			(58	)			(35	)
Adjusted non-GAAP research and development expenses	$	1,105			$	859			$	3,151			$	3,050
Total sales, marketing, general and administrative expenses (GAAP)	$	2,058			$	1,744			$	6,068			$	5,218
Subtract the following items:
Depreciation and amortization		(2	)			(3	)			(8	)			(7	)
Stock-based compensation		(283	)			(24	)			(362	)			(196	)
Adjusted non-GAAP sales, marketing, general and administrative expenses	$	1,773			$	1,717			$	5,698			$	5,015

• Jemperli global net sales of $1.0 billion (£753 million) for the nine months ended September 30, 2026, representing 29% year-over-year growth
• Jemperli approved in the U.S. as the first and only immunotherapy for adults with stage II and III microsatellite instability-high (MSI-H)/ mismatch repair deficient (dMMR) locally advanced rectal cancer
• Litigation with GSK and Tesaro: post-trial hearing held on October 20, 2026, with a judgment anticipated in calendar Q4 2026 or Q1 2027

SAN DIEGO, Nov. 12, 2026 (GLOBE NEWSWIRE) — AnaptysBio, Inc. (Nasdaq: ANAB), a company focused on managing the financial collaborations for Jemperli with Tesaro, a GSK company, and Quimilza (imsidolimab) with Vanda, today reported financial results for the fiscal first quarter ended September 30, 2026, and provided a business update.

“Jemperli’s continued commercial growth in endometrial cancer, with global net sales reaching $1 billion through September 30, 2026, and its recent U.S. approval in adults with stage II and III MSI-H/dMMR locally advanced rectal cancer reinforce our confidence in its long-term potential in monotherapy indications,” said Daniel Faga, president and chief executive officer. “We remain focused on protecting and returning the value of our financial collaborations to shareholders as we approach a judgment in our litigation with GSK and Tesaro in calendar Q4 2026 or Q1 2027 and the FDA target action date for Quimilza in December 2026.”

GSK Jemperli Financial Collaboration

• GSK announced commercial performance for Jemperli
  • $365 million (£273 million) in global net sales for the three months ended September 30, 2026, representing 20% year-over-year growth¹
  • $1.0 billion (£753 million) in global net sales for the nine months ended September 30, 2026, representing 29% year-over-year growth¹
    • Anaptys receives royalties equal to 12% of net sales between $1.0 billion and $1.5 billion in a given calendar year
• Anaptys continues to expect to achieve >$390 million in annualized Jemperli royalties payable to Anaptys as early as 2029 at GSK’s peak monotherapy sales guidance of >$2.7 billion²
• Anaptys estimates Sagard will have accrued ~$330 million in royalties and sales milestones through September 30, 2026 and anticipates paydown of the remaining ~$270 million non-recourse debt monetization in calendar H2 2027
• Jemperli development and regulatory updates announced by GSK include:
  • AZUR-1 – dostarlimab monotherapy in adults with stage II and III MSI-H/dMMR locally advanced rectal cancer
    • In October 2026, GSK received U.S. Food and Drug Administration (FDA) approval
    • GSK presented first results from the AZUR-1 trial as a late-breaking abstract at ESMO Congress 2026 in Madrid, Spain, on October 25, 2026
    • Regulatory submission expected in Japan in calendar H1 2027 and in Europe and China in calendar H2 2027
    • Regulatory decision expected in Europe in calendar H2 2027
  • AZUR-2 – pivotal Phase 3 – dostarlimab versus standard of care in untreated TN40 or stage III dMMR/ MSI-H resectable colon cancer
    • Data expected in 2028
  • AZUR-4 – Phase 2 – dostarlimab plus chemotherapy versus standard of care (chemotherapy) in untreated stage III MMRp/MSS resectable colon cancer
    • Primary completion date in Q4 2026
  • JADE – pivotal Phase 3 – dostarlimab monotherapy versus placebo in locally advanced unresected head and neck squamous cell carcinoma (PD-L1 CPS≥1) post chemoradiation
    • Data expected in 2028

Vanda Quimilza (imsidolimab) Financial Collaboration

• FDA target action date (PDUFA) of December 12, 2026, for Quimilza in generalized pustular psoriasis (GPP)

GSK and Tesaro Litigation Update

• The post-trial hearing was held before the Delaware Chancery Court on October 20, 2026
• Anaptys is seeking reversion of Jemperli rights as a remedy; the Company anticipates a judgment in calendar Q4 2026 or Q1 2027

Fiscal First Quarter Financial Results

• The separation of AnaptysBio and First Tracks Biotherapeutics was completed on April 20, 2026. Beginning in the second quarter of 2026, AnaptysBio reclassified historical First Tracks Biotherapeutics, Inc. related assets, liabilities and expenses as discontinued operations.
• Cash, cash equivalents and investments totaled $153.0 million as of September 30, 2026, compared to $164.1 million as of June 30, 2026, for a decrease of $11.1 million due primarily to $15.5 million used for operating activities offset by $4.4 million received from stock option exercises.
• Collaboration revenue was $30.3 million for the three months ended September 30, 2026, compared to $76.3 million for the three months ended September 30, 2025. The decrease is primarily due to $50 million in milestone revenue recognized in Q3 2025 offset by Jemperli royalties increasing 11% quarter over quarter for the three months ended September 30, 2026.
• General and administrative expenses from continuing operations were $11.6 million for the three months ended September 30, 2026, compared to $1.1 million for the three months ended September 30, 2025. The increase was due primarily to legal costs for the GSK and Tesaro lawsuit, audit and tax costs to support the June 30, 2026 transition year financials, and the allocation of G&A costs between AnaptysBio and First Tracks Biotherapeutics, Inc. for the three months ended September 30, 2025.
  • The expenses recognized for the three months ended September 30, 2026, include $4.8 million in legal costs for the GSK and Tesaro litigation and $2.2 million in recurring expenses, including contractor support, legal services unrelated to the GSK and Tesaro litigation, and other public company expenses.
  • The G&A non-cash, stock-based compensation expense was $3.2 million for the three months ended September 30, 2026, as compared to $0.5 million in the same period in 2025.
• Research and development expenses from continuing operations were a negative $1.3 million for the three months ended September 30, 2026, compared to a negative $2.0 million for the three months ended September 30, 2025. The decrease for the three months ended September 30, 2026 was primarily due to adjustments related to the closeout of clinical contracts reducing expenses incurred prior to the separation.
• Net income from continuing operations was $3.9 million for the three months ended September 30, 2026, or a net income per share of $0.13, compared to a net income from continuing operations of $56.3 million for the three months ended September 30, 2025, or a net income per share of $2.02.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to future clinical, commercial and regulatory developments for Jemperli and Quimilza, future royalty amounts, the Company’s expected paydown of its obligations to Sagard, and the timing or outcome of the Company’s ongoing litigation with GSK. Statements including words such as “plan,” “continue,” “expect,” or “ongoing” and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are subject to risks and uncertainties that may cause the company’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to commercial success of the Company’s licensed products, the company’s ability to protect its financial collaborations and return value to its shareholders, the company’s ability to operate efficiently with a limited staff, and other risks and uncertainties described under the heading “Risk Factors” in documents the company files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

About Anaptys

Anaptys manages the financial collaborations for Jemperli with GSK and Quimilza with Vanda, with a focus on protecting and returning the value of its royalties to shareholders. To learn more, visit www.AnaptysBio.com or follow us on LinkedIn.

Contact:
Chris Murphy
Chief Financial Officer
investors@anaptysbio.com

_______________________________________

1. GSK Q3 2026 earnings call, 10/28/2026

2. CEO Emma Walmsley, 2025 JP Morgan CEO Series fireside chat, 9/11/2025, “there’s no change to our peak year sales overall ambition for Jemperli, that’s for sure, which is far more than £2 billion.”; Converted from GBP to USD using Q3 2025 average exchange rate (1.35x)

AnaptysBio, Inc. Balance Sheets (in thousands, except par value data) (unaudited)
		September 30, 2026				June 30, 2026
ASSETS
Current assets:
Cash and cash equivalents		$	135,394			$	133,826
Receivables from collaborative partners			30,494				25,634
Short-term investments			17,599				30,317
Prepaid expenses and other current assets			4,886				8,650
Total current assets			188,373				198,427
Property and equipment, net			97				102
Deferred tax asset			107,247				106,639
Operating lease right-of-use assets			11,070				11,560
Other long-term assets			256				256
Total assets		$	307,043			$	316,984
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	879			$	4,394
Accrued expenses			19,339				28,798
Current portion of operating lease liability			2,203				2,161
Total current liabilities			22,421				35,353
Liability related to sale of future royalties			249,819				256,493
Long-term taxes payable			3,619				3,619
Operating lease liability, net of current portion			10,364				10,934
Stockholders’ equity:
Preferred stock, $0.001 par value, 10,000 shares authorized and no shares issued or outstanding at September 30, 2026 and June 30, 2026, respectively			—				—
Common stock, $0.001 par value, 500,000 shares authorized, 29,941 shares and 29,728 shares issued and outstanding at September 30, 2026 and June 30, 2026, respectively			30				30
Additional paid in capital			658,658				652,269
Accumulated other comprehensive loss			(181	)			(151	)
Accumulated deficit			(637,687	)			(641,563	)
Total stockholders’ equity			20,820				10,585
Total liabilities and stockholders’ equity		$	307,043			$	316,984

AnaptysBio, Inc. Statements of Operations and Comprehensive Income (in thousands, except per share data) (unaudited)
		Three Months Ended September 30,
		2026				2025
Collaboration revenue		$	30,274			$	76,320
Operating expenses:
Research and development			(1,267	)			(2,035	)
General and administrative			11,636				1,083
Total operating expenses			10,369				(952	)
Income from operations			19,905				77,272
Other income (expense), net:
Interest income			1,438				1,861
Sublease income			667				—
Non-cash interest expense for the sale of future royalties			(18,742	)			(22,515	)
Total other expense, net			(16,637	)			(20,654	)
Income before income taxes			3,268				56,618
Benefit (provision) for income taxes			608				(269	)
Income from continuing operations			3,876				56,349
Loss from discontinued operations, net of tax			—				(41,236	)
Net income			3,876				15,113
Other comprehensive income:
Unrealized (loss) gain on available for sale securities			(30	)			53
Total comprehensive income		$	3,846			$	15,166
Net income (loss) per common share:
Income from continuing operations – basic		$	0.13			$	2.02
Loss from discontinued operations – basic			—				(1.48	)
Net income per common share – basic		$	0.13			$	0.54
Income from continuing operations – diluted		$	0.11			$	1.94
Loss from discontinued operations – diluted			—				(1.42	)
Net income per common share – diluted		$	0.11			$	0.52
Weighted-average number of shares outstanding:
Basic			29,847				27,833
Diluted			35,072				29,018