Author: Ravi Shankar

Multi-year colocation agreement with Expedient secures nearly 4 megawatts of data center capacity to support planned infrastructure deployments in the first half of 2027

PALO ALTO, Calif., Nov. 12, 2026 (GLOBE NEWSWIRE) — Smartbird, Inc. (NASDAQ: BIRD), the AI infrastructure company, today announced that it has signed a multi-year colocation agreement to secure more than 3.7 megawatts (MW) of IT capacity at a U.S.-based data center owned and operated by Expedient, a data center and cloud service provider delivering intelligent infrastructure for the AI era. The available capacity is intended to support the deployment of dedicated AI infrastructure targeted for the first half of 2027.

Securing this capacity marks another important milestone in Smartbird’s progress toward delivering dedicated, fully managed AI infrastructure to enterprise customers. The colocation agreement represents a concrete step toward establishing the physical infrastructure required for customer deployments. The capacity will support opportunities within Smartbird’s active customer pipeline as the company continues to develop solutions tailored to enterprise workloads.

This announcement follows Smartbird’s recent collaborations with WEKA and Supermicro, reflecting continued progress in assembling the technology stack, and operational capabilities required to support enterprise AI deployments.

As enterprises move AI applications from experimentation into production, access to suitable data center infrastructure has become an increasingly important requirement. Power availability, cooling capabilities, physical space, and deployment timelines can create significant challenges for organizations seeking to operate high-performance AI systems at scale.

Smartbird addresses these challenges by bringing together the infrastructure, technology, and operational capabilities required for each customer.

“We’re moving from building the foundation of Smartbird to putting the pieces in place for customer deployments,” said Nadia Carlsten, Ph.D., president and CEO of Smartbird. “Access to power and AI-ready data center capacity is one of the most important requirements for delivering infrastructure at scale. Securing capacity through this agreement with Expedient is a tangible step forward in our execution plans, strengthening our ability to serve customers and advancing our progress toward planned 2027 deployments.”

The data center facility will support Smartbird’s model of delivering dedicated AI infrastructure, providing customers with the performance, control, and security required for their workloads. It is able to accommodate high-density AI computing systems, including liquid-cooled racks, supporting a range of enterprise AI workloads and hardware configurations.

Expedient’s network of data centers provides points of delivery in strategic locations across the U.S. for cloud, colocation, and AI in facilities with 24x7x365 support. Expedient operates data centers in multiple U.S. cities and regions, including Boston, Baltimore, Cleveland, Columbus, Indianapolis, Pittsburgh, Memphis, Phoenix, Denver, Milwaukee, San Jose, Ashburn, and Chicago.

“The next phase of enterprise AI will be won on power, cooling, and the people who keep it running,” said Bryan Smith, CEO of Expedient. “Our role is to provide organizations with a ready place to run AI at scale, backed by U.S.-based engineers 24/7. We’re proud to support Smartbird as it prepares for its planned 2027 deployments.”

About Smartbird

Smartbird, Inc. (NASDAQ: BIRD) is an AI infrastructure company focused on making enterprise AI deployment simpler, more secure, and more cost-effective. Smartbird designs, deploys, and operates dedicated, fully managed AI infrastructure tailored to customers’ workloads and business requirements. With flexible deployment and ownership models, Smartbird enables enterprises, governments, and research organizations to run AI at production scale while maintaining control over their infrastructure, data, and costs. Learn more at www.smartbird.ai.

About Expedient

Expedient is a cloud service provider that guides organizations through every era of technology change. For 25 years, organizations have trusted Expedient to act as an extension of their team, helping them stabilize, optimize, and modernize without the complexity of doing it alone. Expedient unifies cloud, data, and AI into one seamless managed service, so teams can focus on what drives the business forward. Expedient is the first Nutanix Premier Service Provider, a two-time Nutanix Service Provider Partner of the Year, Americas, and one of 14 Broadcom Pinnacle tier VMware Cloud Service Providers in the U.S. Every solution is backed by a 100% SLA with 24/7 access to our U.S.-based engineers. Learn more at expedient.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Smartbird’s strategy, anticipated partnerships, expected data center and equipment availability and cluster deployments, anticipated customers, capital resources, and market opportunity. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Discussion of these and other factors that could cause our financial results and performance to differ materially from any results or performance anticipated, expressed, or implied by these forward-looking statements is included in the filings we make with the SEC, including our most recent Quarterly Report on Form 10-Q and our Annual Report on Form 10-K for the year ended December 31, 2025, and other reports we may file with the SEC from time to time. These forward-looking statements speak only as of the date of this press release, and we undertake no obligation to update them except as required by law.

Media Contacts

Smartbird:
press@smartbird.ai

Expedient:
Rachel Beckler Chief Marketing Officer
rachel.beckler@expedient.com

Investor Relations
ir@smartbird.ai

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c1b7fcf9-820a-4224-924c-e8ce9b255010

NEW YORK, Nov. 12, 2026 (GLOBE NEWSWIRE) — Xcel Brands, Inc. (NASDAQ: XELB) (“Xcel” or the “Company”), today announced that it will report its third quarter 2026 financial results on November 16, 2026. The Company will hold a conference call with the investment community on November 16, 2026, at 5:00 p.m. ET.

A webcast of the conference call will be available live on the Investor Relations section of Xcel’s website at https://xcelbrands.co/pages/events-and-presentations or directly at https://edge.media-server.com/mmc/p/hm8gb29z

Interested parties unable to access the conference call via the webcast may dial 800-715-9871 or 646-307-1963 and use the Conference ID 1412493. A replay of the webcast will be available on Xcel’s website.

About Xcel Brands

Xcel Brands, Inc. (NASDAQ: XELB) is a media and consumer products company engaged in the design, licensing, marketing, live streaming, and social commerce sales of branded apparel, footwear, accessories, home goods, pet products and other consumer products, and the development of creator or influencer-led brands and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as social commerce. Xcel owns the Halston and C. Wonder brands, as well as the co-branded creator or influencer-led brands Tower Hill by Christie Brinkley, Trust.Respect.Love by Cesar Millan, GemmaMade by Gemma Stafford, and Off/Duty by Coco Rocha, and holds a long-term license agreement in Mesa Mia by Jenny Martinez. Xcel also owns and manages the Longaberger by Shannon Doherty brand through its controlling interest in Longaberger Licensing, LLC. Xcel is pioneering a modern consumer products sales strategy which includes the promotion and sale of products under its brands through television, digital live-stream shopping, social commerce, brick-and-mortar retailers, and e-commerce channels to be everywhere its customer’s shop. The company’s previously owned and current brands have generated more than $5 billion in retail sales via livestreaming in television and digital channels alone and has over 20,000 hours of content production time in live-stream and social commerce. The brand portfolio reaches more than 46 million social media followers with broadcast reaching over 200 million households. Headquartered in New York City, Xcel Brands is led by an executive team with significant live streaming, production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. For more information, visit www.xcelbrands.com

For further information please contact:

Xcel Brands
media@xcelbrands.com

• Submission of Marketing Authorisation Application (MAA) to the European Medicines Agency (EMA) for botaretigene sparoparvovec (bota-vec) for the treatment of X-linked retinitis pigmentosa (XLRP) expected in December 2026 
• Submission of full Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for bota-vec expected in the first quarter of 2027
• 12-month data readout in pivotal Phase 2 AQUAx2 study of AAV2-hAQP1 for the treatment of radiation-induced xerostomia (RIX) mid-2027
• Upcoming oral presentation at ObesityWeek highlights AAV-BDNF program for the treatment of MC4R/BDNF genetic obesity (severe early-onset syndromic obesity)
• Strengthened leadership with the appointment of John Knighton as Executive Vice President of Global Manufacturing and Supply Chain and Alan M. Sebulsky to the Board of Directors

LONDON and NEW YORK, Nov. 12, 2026 (GLOBE NEWSWIRE) — MeiraGTx Holdings plc (Nasdaq: MGTX), a vertically integrated, clinical stage genetic medicines company, today announced financial and operational results for the third quarter ended September 30, 2026, and provided a corporate update.

“We are pleased to report that we have now completed much of the work towards submission of full global regulatory filings with the EMA and FDA for bota-vec for the treatment of XLRP. The MAA dossier is complete and awaiting submission and the BLA is expected to follow early next year,” said Alexandria Forbes, Ph.D., president and chief executive officer of MeiraGTx. “In parallel with these filings, we have been preparing our market access and commercial teams ahead of the anticipated launch of our first commercial product, bota-vec, in late 2027.”

Dr. Forbes continued, “We are actively preparing for our pivotal Phase 2 AQUAx2 12-month data readout for the treatment of radiation-induced xerostomia in mid-2027. As we progress these two lead programs through filing for potential approval and commercialization, we are also advancing several programs towards IND. Two of these programs use our transformative riboswitch platform: Ribo-Leptin for metabolic disease, and a novel target with riboswitch to treat neuropathic pain.”

“Other programs to highlight in the coming quarters, which we have spent years optimizing, are our dry AMD and Geographic Atrophy programs where we are advancing two novel targets,” said Dr. Forbes. “Using our internal and partnered AI technology, we have developed proprietary intravitreal capsids and strong cell specific promoters which can deliver a highly potent combination addressing both upstream and downstream pathways involved in the pathogenesis of dry AMD.”

Third Quarter 2026 and Recent Highlights

Botaretigene Sparoparvovec (bota-vec) for the Treatment of X-Linked Retinitis Pigmentosa (XLRP):

• The MAA dossier is complete and in publishing and the Company intends to submit it to the EMA in December 2026, subject to EMA confirmation of the submission date. The Company anticipates that this will be followed by the submission of the full BLA to the FDA in the first quarter of 2027.
• MeiraGTx holds all rights and interests in bota-vec following its May 2026 acquisition from Johnson & Johnson (J&J)*.
• XLRP is a rare inherited retinal disease with early onset and progressive degeneration to complete blindness by the third decade of life, with no currently approved treatment options. There are more than 20,000 XLRP-RPGR patients in the U.S. and EU alone.
• The Phase 3 LUMEOS study was a global, randomized study (n=95) in which all patients were treated bilaterally. Data highlight the potential of bota-vec to improve each of the domains of vision, and the safety profile was as expected and manageable, with no new safety signals and an improved inflammatory profile relative to the Phase 1/2 study.
• As the commercial manufacturer of bota-vec, MeiraGTx has successfully completed process performance qualification (PPQ) with Module 3 of the MAA complete. MeiraGTx holds a commercial license for its London, U.K. manufacturing facility and a commercial license for its QC facility in Shannon, Ireland.
• Bota-vec has been granted Fast Track and orphan drug designation from the FDA, and in the EU, has received Priority Medicines (PRIME), advanced therapy medicinal product (ATMP) classification, and orphan drug designation from the local regulatory authorities.

^{*Janssen Pharmaceuticals, Inc., a Johnson & Johnson company}

AAV2-hAQP1 for the Treatment of Radiation-Induced Xerostomia:

• The pivotal Phase 2 AQUAx2 study (NCT05926765), a randomized, double-blind, placebo-controlled study at 30 sites in the U.S., Canada, and the U.K., completed enrollment in the second quarter of 2026 and remains on track for a 12-month pivotal data readout in mid-2027 which, if positive, could support a BLA submission by the end of 2027, with potential U.S. approval in 2028.
• The FDA granted Breakthrough Therapy Designation (BTD) to AAV2-hAQP1 in March 2026 for the treatment of grade 2 and grade 3 radiation-induced xerostomia, supported by three-year data from the 24-patient Phase 1 AQUAx study. Results demonstrated sustained, clinically meaningful improvements in both patient-reported outcomes and objective measures of salivary flow, with durable effects maintained from 12 months through 36 months post-treatment, and AAV2-hAQP1 continued to be safe and well-tolerated at each dose tested.
• In October 2026, MeiraGTx presented a poster at the European Society of Gene and Cell Therapy (ESGCT) 2026 Annual Congress (P0096) describing the development of a commercial in-vitro biological activity potency assay for AAV-AQP1. The calcein quenching-based, plate reader assay measures water transport in a surrogate cell line, with intra-assay variability below 20% CV, and is being validated to ICH Q2(R2) standards to support Quality Control release and future commercial licensing.

AAV-GAD for the Treatment of Parkinson’s Disease:

• The FDA granted Regenerative Medicine Advanced Therapy (RMAT) designation to AAV-GAD for the treatment of Parkinson’s disease not adequately controlled with medication in 2025, based on data demonstrating statistically significant efficacy in 2 double-blind sham-surgery controlled studies: a Phase 2 study (n=45) and a Phase 1/2 clinical bridging study (n=14) following the successful Phase 1 dose escalation study (n=14).
• The RMAT application also included analyses using novel AI technology developed by our JV partner, Hologen Limited, which demonstrated potential disease modification resulting from treatment.
• The JV with Hologen, Reogen Limited (Reogen), intends to initiate a Phase 3 study of AAV-GAD in the first quarter of 2027.

AAV-AIPL1 for LCA4:

• MeiraGTx has granted Eli Lilly and Company (Lilly) worldwide exclusive rights to AAV-AIPL1 for the treatment of Leber congenital amaurosis 4 (LCA4). Lilly also received exclusive access rights to certain of MeiraGTx’s gene therapy technologies for ophthalmology, and certain rights to the Company’s riboswitch technology for gene editing in the eye.
• MeiraGTx received an upfront payment of $75 million and is eligible to receive over $400 million in total milestone payments, as well as tiered royalties on licensed products.

Riboswitch Gene Regulation Technology Platform for in vivo Delivery:

• The Company’s riboswitch technology is a broadly applicable platform that provides a precise dose of any biologic therapeutic encoded by a transgene in response to a daily oral pill.
• We have demonstrated that the platform is gene agnostic and can be incorporated into any sequence delivered by any vector including lentivirus, AAV, CRISPR or LNPs providing a powerful mechanism for precisely controlling the level and timing of the production of biologic therapeutics in the body.
• The Company has prioritized its Ribo-Leptin program, followed by a second program focused on neuropathic pain, for planned IND submissions for first-in-human studies using both vector and small molecule.
• In order to expedite the use of the Company’s proprietary, optimized small molecule for both of these riboswitch targets, a single ascending dose/multiple ascending dose (SAD/MAD) study of the Company’s lead small molecule is expected to initiate in December 2026. Data from this study will inform dose selection for the planned first-in-human combination studies for each of the prioritized riboswitch programs next year.

Corporate and Leadership Updates

• In July 2026, MeiraGTx appointed John Knighton as Executive Vice President of Global Manufacturing and Supply Chain. Mr. Knighton brings more than 30 years of experience from J&J and GlaxoSmithKline. Most recently, he served as Vice President, Cell & Gene Therapy API Development at Janssen Pharmaceuticals, Inc., where he led a team that manufactured for the approval and commercialization of CARVYKTI® (a personalized CAR T-cell immunotherapy used to treat adult patients with relapsed or refractory multiple myeloma).
• In September 2026, MeiraGTx appointed Alan M. Sebulsky to its Board of Directors. Mr. Sebulsky has more than 40 years of experience in public company investment, financial strategy, and board leadership, most recently serving as Partner and Portfolio Manager at Adage Capital Management for 14 years. He is the Managing Member of Apothecary Capital, serves on the Board of Directors of Parabilis Medicines, Inc., and previously served on the boards and audit committees of Jazz Pharmaceuticals and Arrow International.

Upcoming Oral Presentation at ObesityWeek Highlighting AAV-BDNF Program for the Treatment of MC4R/BDNF Genetic Obesity (severe early-onset syndromic obesity)
Session Details: Brain Biology, Gene Therapy, and Treatment Outcomes Oral Session
Monday November 16, 2026
8:30 AM- 9:30 AM ET
Title: Restoration of the Leptin-Melanocortin Pathway via Hypothalamic AAV-BDNF Rescues Syndromic Obesity
Speaker: Josefa Sullivan
Location: Gaylord National Resort & Convention Center: Potomac AB, Ballroom Level, National Harbor, Maryland

As of September 30, 2026, MeiraGTx had cash and cash equivalents of approximately $184.7 million as well as $1.7 million in accounts receivable, $3.8 million in accounts receivable – related party, $0.6 million in unbilled receivables, $17.2 million in unbilled receivables – related party and $6.2 million in tax incentive receivables. Together with the additional $95.0 million upfront payment due from Hologen and associated reimbursements, the Company believes that it will have sufficient capital to fund operating expenses and capital expenditure requirements into the second half of 2028. This estimate does not include the $135.0 million in potential near-term cash consideration from Lilly upon achievement of certain development and regulatory approval milestones, or any subsequent tranches available under the royalty note purchase agreement with Oberland Capital Management LLC (Oberland Capital).

Financial Results

Cash, cash equivalents and restricted cash were $186.8 million as of September 30, 2026, compared to $17.1 million as of September 30, 2025.

Service revenue was $1.6 million for the three months ended September 30, 2026, compared to nil for the three months ended September 30, 2025. The increase of $1.6 million was due to revenue recognized for the contract manufacturing services provided to Lilly, as well as other support services related to the AAV-AIPL1 program, under the Lilly collaboration agreement and related agreements.

Service revenue – related party was $3.2 million for the three months ended September 30, 2026, compared to $0.4 million for the three months ended September 30, 2025. The increase of $2.8 million was primarily attributable to the development and transition services provided to Reogen under the Reogen collaboration agreement and related agreements in the current period, compared to PPQ services provided to J&J under the original asset purchase agreement and related agreements in 2025.

Cost of service revenue was $0.6 million for the three months ended September 30, 2026 compared to nil for the three months ended September 30, 2025. The increase of $0.6 million was attributable to costs incurred during the three months ended September 30, 2026 in connection with contract manufacturing services provided to Lilly, as well as other related costs associated with support services for the AAV-AIPL1 program under the Lilly collaboration agreement and related agreements.

Cost of service revenue – related party was $2.8 million for the three months ended September 30, 2026 compared to $0.3 million for the three months ended September 30, 2025. The increase of $2.5 million was primarily attributable to costs incurred during the current period related to the development and transition services provided to Reogen under the Reogen collaboration agreement and related agreements, compared to costs associated with PPQ services provided to J&J under the original asset purchase agreement and related agreements in 2025.

General and administrative expenses were $12.0 million for the three months ended September 30, 2026, compared to $13.6 million for the three months ended September 30, 2025. The decrease of $1.6 million was primarily due to decreases in legal fees, facilities costs, consulting fees and the allocation of certain general and administrative expenses to cost of service revenue and cost of service revenue – related party. These decreases were partially offset by an increase in personnel costs.

Research and development expenses were $39.3 million for the three months ended September 30, 2026, compared to $32.5 million for the three months ended September 30, 2025. The increase of $6.8 million was primarily attributable to increased clinical trial activities and manufacturing of clinical trial batch material related to the AAV2-hAQP1 program, higher expenses associated with the bota-vec program following the reacquisition from Janssen in the second quarter of 2026, and increased costs associated with the AAV-GAD program, primarily due to the allocation of manufacturing batch costs that were not recognized in cost of service revenue – related party. Manufacturing costs also increased primarily due to scheduled maintenance activities during the quarter, although this increase was fully offset by lower expenses associated with other preclinical ocular programs. In addition, expenses associated with other clinical ocular programs decreased.

Foreign currency loss was de minimis for the three months ended September 30, 2026 compared to a loss of $1.6 million for the three months ended September 30, 2025. The $1.6 million decrease in foreign currency loss was primarily due to the fluctuations in exchange rates, including the weakening of the U.S. dollar against the pound sterling and the strengthening against the euro which impacted the remeasurement of the Company’s intercompany payables and receivables.

Interest income was $1.2 million for the three months ended September 30, 2026 compared to $0.2 million for the three months ended September 30, 2025. The increase of $1.0 million was due to higher cash balances in interest bearing accounts during 2026 offset by lower interest rates.

Financial related costs, net reflected a gain of $1.6 million for the three months ended September 30, 2026 compared to an expense of $3.1 million for the three months ended September 30, 2025. The favorable change of $4.7 million was primarily due to a gain from the change in fair value of the royalty notes and lower interest expense following the termination of the notes purchase agreement with Perceptive Credit Holdings III, LP in the second quarter of 2026, partially offset by the transaction cost expensed in connection with the issuance of the royalty notes and subsequent change in fair value.

Other income was $0.4 million for the three months ended September 30, 2026 compared to nil for the three months ended September 30, 2025. The increase was primarily attributable to a $0.8 million gain from the change in fair value of the derivative liability associated with the right granted under the securities purchase agreement with Oberland Capital and a $0.4 million gain from the change in fair value of the equity option instrument, partially offset by a $0.8 million loss from the change in fair value of the contingent forward instrument.

Loss on equity method investee was $3.9 million for the three months ended September 30, 2026, compared to nil for the three months ended September 30, 2025. The loss primarily reflects the Company’s proportionate share of Reogen’s expenses associated with the ongoing research and development activities relating to the Reogen collaboration agreement.

Income tax expense was $0.6 million for the three months ended September 30, 2026 compared to nil for the three months ended September 30, 2025. The increase of $0.6 million was primarily driven by changes in assumptions used to estimate the annual effective tax rate based on the Company’s forecasted results for the full year.

Net loss attributable to ordinary shareholders for the quarter ended September 30, 2026 was $51.3 million, or $0.53 basic and diluted net loss per ordinary share, compared to a net loss attributable to ordinary shareholders of $50.5 million, or $0.62 basic and diluted net loss per ordinary share for the quarter ended September 30, 2025.

For more information related to our clinical trials, please visit www.clinicaltrials.gov

About MeiraGTx

MeiraGTx (Nasdaq: MGTX) is a vertically integrated, clinical-stage genetic medicines company with a broad pipeline with four late-stage clinical programs. Each of these programs use local delivery of small doses resulting in disease modifying effects in both inherited and more common diseases, in the eye, radiation-induced xerostomia, and Parkinson’s disease. MeiraGTx uses its innovative technology in optimization of capsids, promoters and novel translational control elements to develop best in class, potent, safe viral vectors. MeiraGTx’s broad pipeline is supported by end-to-end in-house manufacturing. MeiraGTx has built the most comprehensive manufacturing capabilities in the industry, including two facilities that are licensed for GMP viral vector production and a GMP QC facility with clinical and commercial licensure. In addition, MeiraGTx has developed a proprietary manufacturing platform process over 10 years based on more than 20 different viral vectors with leading yield and quality aspects and commercial readiness. Uniquely, MeiraGTx has developed a novel technology for in vivo delivery of any biologic therapeutic using oral small molecules. This transformative riboswitch gene regulation technology allows precise, dose-responsive control of gene expression by oral small molecules. MeiraGTx is focusing the riboswitch platform on the regulated in vivo delivery of metabolic peptides, including GLP-1, GIP, Glucagon, Amylin, PYY and Leptin, as well as cell therapy, CAR-T for liquid and solid tumors and autoimmune diseases, and additionally PNS targets addressing long term intractable pain. MeiraGTx has developed the technology to apply genetic medicine to common diseases, increasing efficacy, addressing novel targets, and expanding access in some of the largest disease areas where the unmet need remains high.

For more information, please visit www.meiragtx.com

Forward Looking Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our product candidate development and anticipated milestones regarding our pre-clinical and clinical data, reporting of such data and the timing of results of data and regulatory matters, the timing of regulatory submissions and the potential approval and commercial launch of our product candidates, our ability to manufacture product candidates, and statements regarding our collaborations, as well as statements that include the words “expect,” “will,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “could,” “should,” “would,” “continue,” “anticipate,” “eligible” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, our incurrence of significant losses; any inability to achieve or maintain profitability, raise additional capital, repay our debt obligations, identify additional and develop existing product candidates, successfully execute strategic transactions or priorities, bring product candidates to market, expansion of our manufacturing facilities and processes, successfully enroll patients in and complete clinical trials, accurately predict growth assumptions, recognize benefits of any orphan drug or rare pediatric disease designations, retain key personnel or attract qualified employees, or incur expected levels of operating expenses; the impact of pandemics, epidemics or outbreaks of infectious diseases on the status, enrollment, timing and results of our clinical trials and on our business, results of operations and financial condition; failure of early data to predict eventual outcomes; failure to obtain FDA or other regulatory approval for product candidates within expected time frames or at all; the novel nature and impact of negative public opinion of gene therapy; failure to comply with ongoing regulatory obligations; contamination or shortage of raw materials or other manufacturing issues; changes in healthcare laws; risks associated with our international operations; significant competition in the pharmaceutical and biotechnology industries; dependence on third parties; risks related to intellectual property; changes in tax policy or treatment; our ability to utilize our loss and tax credit carryforwards; litigation risks; and the other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, unless required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Thus, one should not assume that our silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Contacts

Investors:
MeiraGTx
Investors@meiragtx.com
or
Media:
Jordyn Temperato
LifeSci Communications
jtemperato@lifescicomms.com

MEIRAGTX HOLDINGS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (unaudited) (in thousands, except share and per share amounts)
		For the Three-Month Periods Ended September 30,								For the Nine-Month Periods Ended September 30,
		2026				2025				2026				2025
Revenues:
Service revenue		$	1,571			$	—			$	13,456			$	—
Service revenue – related party			3,243				410				108,442				6,027
License revenue – related party			—				—				204,643				—
Total revenue			4,814				410				326,541				6,027
Operating expenses:
Cost of service revenue			617				—				2,018				—
Cost of service revenue – related party			2,806				313				8,767				4,367
General and administrative			11,953				13,616				32,894				35,293
Research and development			39,316				32,532				129,132				98,807
Total operating expenses			54,692				46,461				172,811				138,467
(Loss) income from operations			(49,878	)			(46,051	)			153,730				(132,440	)
Other non-operating (expense) income:
Foreign currency (loss) gain			(1	)			(1,558	)			(4,304	)			10,753
Interest income			1,150				161				2,045				1,540
Financial related costs, net			1,635				(3,065	)			(4,722	)			(9,142	)
Other income (expense)			355				—				(4,868	)			—
Loss on equity method investee			(3,929	)			—				(75,831	)			—
Income tax expense			(613	)			—				(2,975	)			—
Net (loss) income		$	(51,281	)		$	(50,513	)		$	63,075			$	(129,289	)
Net (loss) income attributed to:
Net (loss) income attributed to shareholders			(51,212	)			(50,513	)			63,195				(129,289	)
Net loss attributed to non-controlling interest			(69	)			—				(120	)			—
Net (loss) income		$	(51,281	)		$	(50,513	)		$	63,075			$	(129,289	)
Other comprehensive (loss) gain:
Foreign currency translation (loss) gain attributed to shareholders			(23	)			1,213				826				(2,593	)
Foreign currency translation loss attributed to non-controlling interest			—				—				(4	)			—
Comprehensive (loss) income		$	(51,304	)		$	(49,300	)		$	63,897			$	(131,882	)
Net (loss) income per ordinary share:
Basic		$	(0.53	)		$	(0.62	)		$	0.70			$	(1.61	)
Diluted		$	(0.53	)		$	(0.62	)		$	0.68			$	(1.61	)
Weighted-average number of ordinary shares outstanding:
Basic			96,879,809				80,947,703				89,923,492				80,195,572
Diluted			96,879,809				80,947,703				93,446,129				80,195,572

MEIRAGTX HOLDINGS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (in thousands, except share and per share amounts)
		September 30,				December 31,
		2026				2025
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	184,650			$	65,931
Accounts receivable			1,748				—
Accounts receivable – related party			3,818				3,000
Unbilled receivables			597				—
Unbilled receivables – related party			17,214				—
Prepaid expenses			3,828				6,017
Tax incentive receivable			6,183				15,286
Other current assets			24,308				1,527
Total Current Assets			242,346				91,761
Property, plant and equipment, net			96,871				105,465
Intangible assets, net			17				578
Restricted cash			2,102				2,262
Other assets			1,371				1,147
Equity method and other investments			35,999				6,749
Right-of-use assets – operating leases, net			10,913				12,852
Right-of-use assets – finance leases, net			22,076				23,616
TOTAL ASSETS		$	411,695			$	244,430
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable		$	10,907			$	10,066
Accrued expenses			17,483				32,893
Lease obligations – operating leases, current			2,431				2,851
Lease obligations – finance leases, current			41				38
Deferred revenue, current			518				—
Deferred revenue – related party, current			4,740				1,776
Note payable, net, current			—				24,648
Corporate tax liability			2,198				—
Other current liabilities			14,084				50,283
Total Current Liabilities			52,402				122,555
Deferred revenue			427				—
Deferred revenue – related party			11,137				65,120
Lease obligations – operating leases			9,405				11,351
Lease obligations – finance leases			74				109
Asset retirement obligations			1,129				1,399
Note payable, net			121,900				49,689
TOTAL LIABILITIES			196,474				250,223
COMMITMENTS AND CONTINGENCIES (Note 13)
SHAREHOLDERS’ EQUITY (DEFICIT):
Ordinary Shares, $0.00003881 par value, 1,288,327,750 authorized, 97,619,453 and 81,120,931 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively			3				3
Capital in excess of par value			983,067				808,021
Treasury shares			(18,193	)			—
Accumulated other comprehensive gain			3,232				2,406
Accumulated deficit			(753,028	)			(816,223	)
Non-controlling interest			140				—
Total Shareholders’ Equity (Deficit)			215,221				(5,793	)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)		$	411,695			$	244,430

Initiated Phase 1 study of AP03, a fixed dose combination of nebulized pirfenidone and nintedanib, in healthy volunteers

Presented new AP01 data at ERS Congress and published detailed results from AP02 Phase 1 trials in Respiratory Research; data support Avalyn’s approach of delivering antifibrotic medicines directly to the lungs

 Ended the third quarter of 2026 with $386.6 million in cash, cash equivalents and marketable securities; cash runway projected into 2029

BOSTON, Nov. 12, 2026 (GLOBE NEWSWIRE) — Avalyn Pharma Inc. (Avalyn or the Company, Nasdaq: AVLN), a clinical-stage biopharmaceutical company pioneering inhaled therapies to transform the treatment paradigm of serious, rare respiratory diseases today announced financial results for the third quarter ended September 30, 2026, and recent business highlights.

“As we approach year end, I’m proud of the progress we’ve made across our portfolio and the strong foundation we’ve built for what we expect to be a transformational 2027, with data anticipated across all three of our programs,” said Lyn Baranowski, Chief Executive Officer of Avalyn. “We remain confident in the potential of inhaled therapies to transform the standard of care for pulmonary fibrosis by delivering effective, well-tolerated treatments both as monotherapies and in combination. With our monotherapy programs advancing through later stages of development, the initiation of our first-in-human study of our combination program, AP03, marks the next step in our portfolio expansion. Backed by a strong balance sheet and dedicated team, we are well-positioned to deliver on our key milestones and continue advancing our mission to address the significant unmet needs of people living with rare respiratory diseases.”

Recent Pipeline Progress

AP01 (inhaled pirfenidone)

• European Respiratory Society (ERS) International Congress 2026. In September, the Company presented two posters at the ERS Congress in Barcelona, Spain. The first poster highlighted data modeling AP01 distribution throughout the target regions in both healthy and idiopathic pulmonary fibrosis (IPF) lungs, demonstrating robust delivery to sites of fibrotic remodeling and active disease, even in the case of advanced fibrosis. The second poster described patient perspectives on IPF-focused clinical trial design and demonstrated a strong willingness to participate in clinical trials among survey respondents. The presentations and related distribution modeling videos are accessible on the Company’s publications section of the website.
• Results from the MIST study of AP01, a global Phase 2b clinical trial in patients with progressive pulmonary fibrosis (PPF) are anticipated in the second half of 2027.

AP02 (inhaled nintedanib)

• Phase 1 Data Published in Respiratory Research. In September, Phase 1 data were published in Respiratory Research highlighting AP02’s lung-targeted delivery and encouraging tolerability profile. The findings demonstrated AP02’s potential to achieve substantially higher lung exposure and markedly lower systemic exposure as compared to oral nintedanib. AP02 was generally well-tolerated across both Phase 1 studies, with no serious adverse events reported. The paper, titled, “Nebulized nintedanib (AP02) for idiopathic pulmonary fibrosis demonstrates favorable safety and lung lining fluid exposures: Results from two Phase 1 safety, tolerability, and pharmacokinetic studies,” was published on September 21, 2026, and can be found on the Company’s publications section of the website.
• Results from the AURA study of AP02, a global Phase 2 clinical trial in patients with IPF, are anticipated in late 2027.

AP03 (inhaled combination of pirfenidone and nintedanib)

• Initiated Phase 1 Trial of AP03 in Healthy Volunteers. The Phase 1 trial is a randomized, double-blinded, placebo controlled, single-center study designed to assess the safety, tolerability, and pharmacokinetics of AP03 in healthy volunteers. It is expected to enroll at least 32 participants and will evaluate single ascending doses (SAD) and multiple ascending doses (MAD). The SAD cohort will begin with a combination dose of 50 mg pirfenidone plus 2 mg nintedanib, with additional doses to follow. Primary endpoints include safety and tolerability. Secondary endpoints will evaluate the pharmacokinetic profile of inhaled pirfenidone and nintedanib following single and multiple-dose administration.
• The study is cleared to proceed in Australia following Human Research Ethics Committee (HREC) and institutional approval, and notification to the Therapeutic Goods Administration under the Clinical Trial Notification (CTN) pathway. More information about the Phase 1 clinical trial ACTRN12626001341314 can be found here.
• Results from the Phase 1 healthy volunteer study of AP03 are anticipated in the second half of 2027.

Recent Corporate Highlights

• Robert J. Meyer, MD, Appointed to Avalyn’s Board of Directors. In September, we appointed Robert (Bob) J. Meyer, MD, a distinguished pulmonary physician and former senior U.S. Food and Drug Administration leader, to the Company’s Board of Directors.

Financial Results for Third Quarter 2026

Cash Position: Cash, cash equivalents, and marketable securities were $386.6 million as of September 30, 2026. The Company’s current cash, cash equivalents, and marketable securities are projected to be sufficient to fund operations into 2029.

Research & Development (R&D) Expenses: R&D expenses were $25.5 million for the third quarter of 2026, as compared to $22.1 million for the third quarter of 2025. The increase in R&D expenses was primarily driven by the ongoing AP01 and AP02 clinical trials and the AP01 open-label extension study, SAIL.

General & Administrative (G&A) Expenses: G&A expenses were $7.6 million for the third quarter of 2026, as compared to $3.2 million for the third quarter of 2025. The increase in G&A expenses was primarily driven by the increase of G&A headcount and personnel-related expenses, including stock-based compensation.

Net loss: Net loss was $29.7 million for the third quarter of 2026, as compared to $23.6 million for the third quarter of 2025.

About Avalyn Pharma

Avalyn aims to transform the treatment paradigm for pulmonary fibrosis and other serious, rare respiratory diseases. The Company is advancing optimized inhaled formulations of established antifibrotic medicines designed to deliver drug directly to the lungs, enhance local efficacy, and reduce systemic side effects. Avalyn’s AP01 program is an optimized inhaled formulation of pirfenidone currently being evaluated in MIST, a global Phase 2b clinical trial in patients with progressive pulmonary fibrosis (PPF). AP01 has indicated encouraging safety and clinical activity across Phase 1b and multi-year open-label extension trials, with long-term data supporting the potential to preserve lung function while improving tolerability relative to historical oral pirfenidone. Avalyn’s AP02 program is an optimized inhaled formulation of nintedanib currently being evaluated in AURA, a global Phase 2 clinical trial in patients with idiopathic pulmonary fibrosis (IPF). Avalyn is also advancing AP03, an inhaled fixed-dose combination of pirfenidone and nintedanib, designed to deliver multiple antifibrotic mechanisms through a single lung-targeted platform. By leveraging its proprietary drug-device approach and deep expertise in rare respiratory disease development, Avalyn aims to establish a new standard of care in pulmonary fibrosis through inhaled, lung-targeted therapies. For more information, please visit avalynpharma.com and follow the Company on LinkedIn.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” “will” and “aim” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, without limitation, implied and express statements about Avalyn’s beliefs and expectations regarding: topline data from the MIST Phase 2b trial of AP01 in patients with PPF expected in the second half of 2027; the ongoing enrollment in the AURA Phase 2 trial of AP02 in patients with IPF, including the planned enrollment of 160 patients, and the expected timing of topline data in late 2027; and the anticipation of data in the second half of 2027; the interpretation and potential implications of clinical data; the potential of its product candidates to address significant unmet needs in the treatment of pulmonary fibrosis and related diseases; the possibility that improved tolerability may translate into clinically meaningful benefit; the potential of AP02 to achieve higher lung exposure and lower systemic exposure than oral nintedanib and to deliver improved efficacy and reduced side effects; the advancement of its pulmonary fibrosis programs; the potential for the treatment paradigm for pulmonary fibrosis to move toward combination therapy; the potential for any of the Company’s product candidates to establish or contribute to a new standard of care; Avalyn’s expectations regarding having the resources and expertise needed to achieve its anticipated clinical and corporate milestones; and Avalyn’s expectations regarding the anticipated timeline of its cash runway and future financial performance.

Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks associated with: the risk that earlier results may not be indicative of future results; risks related to clinical trial site activation; delays in enrollment generally or enrollment rates that are lower than expected; delays related to assessment of clinical trial results; risks related to unexpected safety or efficacy data observed during clinical studies; risks related to volatile market and economic conditions; risks related to our ability to protect and maintain our intellectual property position or relationships with third-parties; the initiation, timing, progress and results of our current and future research and development programs; nonclinical studies and clinical trials; our ability to successfully complete our clinical trials; our ability to advance any product candidates that we may identify and successfully complete any clinical studies, including the manufacture of any such product candidates; the likelihood of our clinical trials demonstrating safety and efficacy of our product candidates; and risks related to needs for additional financing. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Avalyn’s current and future filings with the Securities and Exchange Commission, including those described from time to time under the caption “Risk Factors.” In addition, any forward-looking statements represent Avalyn’s views only as of today and should not be relied upon as representing its views as of any subsequent date. Avalyn explicitly disclaims any obligation to update any forward-looking statements subject to any obligations under applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

Investor Contact:
Cassie Saitow, Avalyn Pharma Inc.
Sr. Director, IR and Corporate Communications
ir@avalynpharma.com

Media Contact:
Kelly Donoghue, Avalyn Pharma Inc.
Sr. Manager, IR and Corporate Communications
pr@avalynpharma.com

AVALYN PHARMA INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(In thousands, except share and per share amounts)
(Unaudited)
	Three Months Ended September 30,								Nine Months Ended September 30,
	2026				2025				2026				2025
OPERATING EXPENSES:
Research and development	$	25,491			$	22,089			$	73,109			$	55,290
General and administrative		7,603				3,234				19,184				10,526
Total operating expenses		33,094				25,323				92,293				65,816
LOSS FROM OPERATIONS		(33,094	)			(25,323	)			(92,293	)			(65,816	)
OTHER INCOME (EXPENSE):
Interest income		3,756				1,793				7,577				4,668
Interest expense		(277	)			(1	)			(647	)			(1	)
Other expense		(40	)			(53	)			(96	)			(129	)
Total other income		3,439				1,739				6,834				4,538
NET LOSS	$	(29,655	)		$	(23,584	)		$	(85,459	)		$	(61,278	)

AVALYN PHARMA INC.
CONSOLIDATED BALANCE SHEET DATA
(In thousands)
(Unaudited)
	September 30,				December 31,
	2026				2025
Cash, cash equivalents, and marketable securities	$	386,598			$	138,359
Total assets		399,296				148,881
Total liabilities		29,046				15,316
Total stockholders’ equity (deficit) and redeemable convertible preferred stock	$	370,250			$	133,565

New order builds on the C$4.0 million Phase 1 contract announced in January 2026, bringing total contracted value to approximately C$5.47 million and extends PlantBrain™ to an additional production unit across five use cases

VANCOUVER, British Columbia, Nov. 12, 2026 (GLOBE NEWSWIRE) — Algo8 AI Inc. (CSE: AIOS) (“Algo8” or the “Company”), an Industrial Artificial Intelligence company, has received a follow-on purchase order of approximately C$1.47 million from one of the world’s top 25 tire manufacturers (the “Customer”). The Customer is a publicly listed company with 12 manufacturing plants, capacity of more than 35 million tires a year and annual revenue of approximately C$2.6 billion.

Key Highlights

• Total contracted value: Rises to approximately C$5.47 million with the Customer, up from approximately C$4.0 million announced in January 2026.
• Follow-on order: Approximately C$1.47 million purchase order extends PlantBrain™ to an additional production unit across five use cases.
• Approximately C$0.57 million in maintenance and support fees, payable over the four years after go-live.
• Additional performance-based fees, linked to the measurable value PlantBrain™ delivers at the facility.

This order continues the multi-plant digital transformation program first announced on January 20, 2026, under which Algo8 began Phase 1 implementation at one of the Customer’s manufacturing facilities under an initial contract of approximately C$4.0 million, with blueprinting completed at an additional site. The new order brings the total contracted value with the Customer to approximately C$5.47 million, an increase of approximately 37%. The C$1.47 million is payable in lump sums upon the completion of certain milestones as set out in the purchase order. The engagement is expected to be completed by October 2027.

The Customer manufactures a full range of passenger car, commercial vehicle, two- and three-wheeler, farm and off-the-road tires, which it supplies to vehicle manufacturers and replacement markets in more than 100 countries, and is adding new radial production lines across its plant network.

The expansion reflects Algo8’s land-and-expand model, in which customers progress from diagnostic to production deployment and multi-plant rollout within an existing relationship. With a 12-plant network and new capacity being added, the Customer offers opportunities for further PlantBrain™ deployments. The engagement begins with a 45–50 day blueprinting phase that reuses templates developed at the Customer’s other plants, then proceeds directly into implementation, with all use cases scheduled to be live on plant-floor tablets within approximately 270 days of project kickoff with full delivery within one year.

Scope of the Engagement

Algo8’s Industrial AI Operating System will connect the systems the Customer already runs in the production unit, including Siemens and Rockwell PLCs, SCADA, MES and SAP, across approximately 180 production assets in chemical preparation, mixing, extrusion, stock preparation, building, curing (114 presses) and final finish. The deployment includes:

• An AI-driven production planning and scheduling engine optimizing machine, shift and SKU-level schedules against demand, capacity, material availability and workforce constraints
• Digital logbooks replacing paper-based shift, maintenance, wastage and shutdown records for up to 250 users, with offline capability
• A centralized data platform integrating plant-floor and business systems, supporting real-time and batch processing
• Asset, inventory, energy and production dashboards
• Digital and AI twins of assets, processes, inventory and energy, including generative AI-based failure mode and effects analysis (FMEA) and accelerated root cause identification

The order terms also contemplate maintenance and support fees totalling approximately C$0.57 million over the four years following go-live, as well as performance-linked fees tied to measured gross value added at the facility, in addition to the potential recurring support fees disclosed in January 2026.

Management Commentary

“A repeat order from one of the world’s top 25 tire manufacturers validates our model: prove value at one plant, then expand across the network,” said Nandan Mishra, Chief Executive Officer and Co-Founder of Algo8. “Every use case in this program connects to systems the plant already operates, which is what lets us take a production unit of this scale to live AI-driven scheduling and digital twins inside a year.”

“Templates and integrations built at the Customer’s earlier sites are being reused here, which compresses blueprinting to under two months and lowers delivery cost with every additional plant,” said Himanshu Singh, Chief Technology Officer and Co-Founder of Algo8. “Tire manufacturing is one of the most complex continuous-process environments in heavy industry, and multi-plant programs across a manufacturing network of this size are where PlantBrain™ proves its value.”

Engagement of Market Maker

The Company also announces that it has engaged the services of DS Market Solutions Inc. (“DS Market”) to provide equity trading advisory and liquidity provider services in accordance with the policies of the Canadian Securities Exchange (“CSE”). DS Market will trade common shares of the Company on the CSE and other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company’s common shares.

Under the terms of the engagement, DS Market will receive compensation of C$5,000 per month, payable monthly in advance. The engagement is effective November 1, 2026, on a month-to-month basis and may be terminated by either party upon thirty (30) days’ notice. There are no performance factors contained in the engagement and DS Market will not receive shares or options as compensation. DS Market and the Company are unrelated and unaffiliated entities, and at the time of the engagement, neither DS Market nor its principals have any interest, directly or indirectly, in the securities of the Company.

About DS Market Solutions Inc.

DS Market Solutions Inc. is an equity trading advisor to issuers seeking to enhance liquidity in their publicly traded securities. DS Market Solutions can be contacted at davidsears@dsmarketsolutions.com and via its website at https://www.dsmarketsolutions.com. DS Market’s address is 1160 Walden Circle, Unit 6, Mississauga, Ontario.

About Algo8 AI Inc.

Algo8 AI Inc. (CSE: AIOS) is an Industrial Artificial Intelligence company. Its Industrial AI Operating System, anchored by the flagship PlantBrain™ platform, connects the operational and business systems customers already run and combines industrial context with generative, agentic, predictive and physical AI to turn industrial data into decisions and actions. Large-scale manufacturing, energy and infrastructure operators use it to optimize production scheduling, maintenance, quality, energy use and throughput, driving productivity and progressively more autonomous operations. The platform is delivered to customers globally, from initial diagnostic through deployment and ongoing support.

On behalf of the Board of Directors of Algo8 AI Inc.

Brandon Kou
President and Director

For further information, please contact:
Daniel Gordon
Investor Relations
Phone: 416-827-8761
Email: daniel@adcap.ca
Website: algo8.ai/investors

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including, without limitation, the anticipated implementation, the scope, stages and value of the Customer engagement, the potential expansion to additional plants or production units, potential maintenance, support and performance-linked fees, the Company’s land-and-expand strategy, potential operational and financial benefits of the purchase order, future platform development, the timeline of the engagement and the applicability of Algo8’s technologies to additional industrial use cases, are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “expects”, “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “will” occur.

Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release, including, among other things, that the deployment will deliver the anticipated operational improvements at the production unit across the five use cases, PlantBrain™ will operate as expected and provide the anticipated benefits to the Customer, the Customer will accept the deliverables and make the required milestone payments under the purchase order, the use cases will go live within the anticipated timeline, the engagement will be completed by October 2027, the maintenance, support and performance-linked fees contemplated by the order terms will become payable, exchange rates will not change materially from current rates and the program will lead to the potential expansion to additional plants or production units and result in further deployments across the Customer’s operations.

These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important risks that may cause actual results to vary include, without limitation, the risk that the deployment will not deliver the anticipated operational improvements at the production unit across the five use cases, PlantBrain™ will not operate as expected and will not provide the anticipated benefits to the Customer, the Customer will not accept the deliverables or make the required milestone payments under the purchase order, the use cases will not go live within the anticipated timeline, the engagement will not be completed by October 2027, the order will be modified, delayed or terminated, the maintenance, support and performance-linked fees will not become payable, payments denominated in Indian rupees will be adversely affected by exchange rate fluctuations, the program will not lead to the potential expansion to additional plants or production units or result in further deployments across the Customer’s operations, and the risks and uncertainties described in the Company’s continuous disclosure filings available under its profile on SEDAR+.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.

The audit engagement supports GBHL’s planned S-1 registration statement as PyX works toward functional prototypes of Core and Vault

LAS VEGAS, Nov. 12, 2026 (GLOBE NEWSWIRE) — PyX Wallets Inc., formerly Global Entertainment Holdings, Inc. (OTC: GBHL) (“GBHL” or the “Company”), today announced that it and PYX Wallets Inc., a Delaware corporation (“PYX”), have engaged FM Financial Services LLC, a Public Company Accounting Oversight Board (PCAOB)-registered firm, to audit their financial statements. The audits are now underway. In its November 4, 2026 update, GBHL shared a video interview with PyX Wallets Chief Executive Officer Ryan Contardi. Contardi discussed why PyX selected GBHL as its public company partner and the path ahead for PyX Core and PyX Vault. PYX acquired control of GBHL under the stock purchase agreement. The change of control remains subject to final transfer agent processing and the Nevada court’s final order discharging the custodianship.

Audit Engagement

FM Financial Services will audit two years of GBHL’s financial statements, covering the fiscal years ended December 31, 2024 and 2025, and review its interim financial information for the first three quarters of 2026. The audit will examine GBHL’s historical opening balances, liabilities and equity transactions. The firm will conduct a separate audit of PYX’s financial statements since inception, including the accounting for the stock purchase transaction. FM Financial Services expects to issue separate audit reports for GBHL and PYX.

S-1 Registration Statement

The Company has begun preparing a registration statement on Form S-1 and plans to file it with the U.S. Securities and Exchange Commission (SEC) upon completion of the audits. GBHL expects to include the audited financial statements in the filing, which is part of its plan to become an SEC reporting company and provide periodic public financial disclosures. The Company looks forward to completing the audits and taking this next step as a public company. A national securities exchange listing remains a longer-term goal, subject to applicable requirements.

PyX Core and PyX Vault

PyX Core is a titanium smart wallet in development for everyday card security. The design pairs a side-mounted fingerprint sensor and motorized card access with RFID/NFC shielding and USB-C charging. The planned mobile app would let users manage authorized fingerprints, lock or unlock the wallet and check device status. GPS tracking is intended to help users locate a missing wallet. PyX Vault adds a hardware crypto wallet designed to keep private keys offline. Users would prepare a transaction in the mobile or desktop app, check the details on the wallet’s display and approve the transaction on the device. Prototype testing will guide design refinements and preparations for certification and an initial production run.

“We’re building Core so a touch of your finger opens the wallet and gives you access to the cards you carry every day. With Vault, you can also review and approve a crypto transaction right on the device,” said Ryan Contardi, Founder and Chief Executive Officer of PyX Wallets. “Our next milestone is to get working prototypes of both wallets in hand and test them with the mobile and desktop apps.”

Name and Symbol Change

The Company is preparing a submission to FINRA to reflect its Nevada legal name, PyX Wallets Inc., in market records and request a new trading symbol. GBHL remains the OTC symbol while the corporate action is pending. Separately, the Company plans to pursue the OTC quotation process under SEC Rule 15c2-11. If that process requires a Form 211, a FINRA member broker-dealer would submit it.

About PYX Wallets Inc. (Delaware)

PYX Wallets Inc. is a Delaware consumer hardware company developing smart wallets for physical card and digital asset security. For more information, visit www.pyxwallets.com

About PyX Wallets Inc. (formerly Global Entertainment Holdings, Inc.)

PyX Wallets Inc. is a Nevada corporation previously named Global Entertainment Holdings, Inc. Its common stock is quoted on OTC Markets under the symbol GBHL.

Investor Contact
info@pyxwallets.com

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements about completion of the audits and interim review, the planned S-1 registration statement, transfer agent processing and the court’s final custodianship order, FINRA processing and OTC quotation, a potential exchange listing, and product development and commercialization.

Actual results may differ materially. The availability of historical financial records and completion of audit procedures may affect the SEC filing timetable. Court, transfer agent and regulatory processes, development costs and the results of product testing may also affect the Company’s plans. Final product features and manufacturing schedules may change as development progresses.

Source: PyX Wallets Inc. (formerly Global Entertainment Holdings, Inc.)

LAVAL, Québec, Nov. 12, 2026 (GLOBE NEWSWIRE) — Savaria Corporation (“Savaria” or the “Corporation”) (TSX: SIS), one of the global leaders in the accessibility industry, announces that its Chief Financial Officer, Stephen Reitknecht, will be resigning from his position effective December 31, 2026, to pursue another professional opportunity. In light of this upcoming departure, Savaria has begun the process of identifying a successor. Marjorie Yale, Vice-President, Finance who has been with Savaria since August 2019, who oversees all financial reporting activities, will serve as interim Chief Financial Officer effective January 1, 2027. Mr. Reitknecht will ensure an orderly transition of responsibilities.

“On behalf of the Board of Directors and our entire team, I would like to thank Steve for his many contributions since he joined Savaria in 2020 and wish him the best of luck in this next phase of his career,” said Sébastien Bourassa, Savaria’s President and Chief Executive Officer.

About Savaria Corporation

Savaria Corporation (corp.savaria.com) is one of the global leaders in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as elevators for home and commercial use, stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and dumbwaiters. In addition, Savaria manufactures and markets a comprehensive selection of pressure management products, medical beds, as well as an extensive line of medical equipment and solutions for the safe movement of patients, such as transfer, lifting and repositioning aids. The Corporation operates a sales network of dealers worldwide and direct sales offices in North America, Europe (UK, Netherlands, Switzerland, Italy, Germany, Poland and Czech Republic) and Australia. Savaria employs approximately 2,600 people globally and its plants are located across Canada, the United States, Mexico, Europe and China.

Cautionary Notice Regarding Forward-Looking Statements

Certain information in this press release may constitute “forward-looking statements” regarding Savaria, Stephen Reitknecht and Marjorie Yale. Most frequently, but not invariably, forward-looking statements are identified by the use of such terms as “plan”, “expect”, “should”, “could”, “budget”, “expected”, “estimated”, “forecast”, “intend”, “anticipate”, “believe”, variants thereof (including negative variants) or statements that certain events, results or shares “could”, “should” or “will” occur or be achieved. Such statements involve known and unknown risks, uncertainties and other factors liable to cause actual results, performance or achievements to differ materially from those set forth in or underlying the forward- looking statements. Such factors notably include general, economic, competitive, political and social uncertainties, the risks set forth under “Risks and Uncertainties” in Savaria’s latest Annual MD&A as well as other risks detailed from time to time in reports filed by Savaria with securities regulators in Canada. Although Savaria has attempted to identify the key elements liable to cause actual measures, events or results to differ from those described in the forward-looking statements, other factors could have an impact on the reality and produce unexpected results. The forward-looking statements contained herein are valid at the date of this press release. Savaria undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by law. As there can be no assurance that these forward-looking statements will prove accurate, actual future results and events could differ materially from those anticipated therein. Accordingly, readers are strongly advised not to unduly rely on these forward-looking statements.

For further information:
Marcel Bourassa Executive Chairman 1. 800.661.5112  marcelb@savaria.com	Sébastien Bourassa President and CEO 1. 800.661.5112  sb@savaria.com

Facebook : https://www.facebook.com/savariabettermobility
Instagram :https://www.instagram.com/savariacorp/
LinkedIn: https://ca.linkedin.com/company/savaria

Surpasses $6 million full-year gross profit target in nine months as Imperium liquidity pool positions grow to approximately $41 million

WAYNE, Pa., Nov. 12, 2026 (GLOBE NEWSWIRE) — BTCS Inc. (Nasdaq: BTCS) (“BTCS” or the “Company”), short for Blockchain Technology Consensus Solutions, a company focused on decentralized finance operations and blockchain infrastructure, today announced its financial results for the quarter ended September 30, 2026 (“Q3 2026”). The Company also launched its updated corporate website at www.btcs.com and released an updated investor presentation and a new company primer available at www.btcs.com/investors/.

“The third quarter was a breakout quarter for BTCS and Imperium,” said Charles Allen, Chief Executive Officer. “BTCS delivered a record $3.5 million in gross profit at an 86% gross margin, surpassing our full-year gross profit target of $6 million with a full quarter remaining in 2026. That performance was driven by Imperium, where we grew our paired liquidity pool positions from approximately $8 million to approximately $41 million and expanded into a multi-chain strategy with the integration of Base. Looking to the fourth quarter, we intend to keep scaling Imperium, and we expect it to remain the leading driver of our business.”

Financial Highlights

Third Quarter 2026 Financial Summary

• Total revenues increased 67% to $4.1 million for Q3 2026, compared to $2.4 million in Q2 2026, driven by growth in Imperium’s DeFi revenues.
• Gross profit grew to $3.5 million (86% margin) for Q3 2026, a record for the Company and a 134% increase from Q2 2026 gross profit of $1.5 million (61% margin). Gross profit also increased 222% compared to $1.1 million in Q3 2025. The improvement reflects the expansion of Imperium’s paired liquidity pool positions and the growing contribution of its higher-margin DeFi revenues.
• Year-to-date gross profit reached $6.0 million for the nine months ended September 30, 2026, compared to $1.1 million for the same period in 2025, achieving the Company’s full-year 2026 gross profit target of $6 million in the first nine months of the year.
• DeFi revenues (Imperium) increased 133% quarter-over-quarter to $3.5 million for Q3 2026 from $1.5 million in Q2 2026, representing approximately 86% of total revenues for Q3 2026, compared to approximately 61% of total revenues in Q2 2026.
• Blockchain infrastructure revenues, comprising NodeOps and Builder+, decreased to $0.6 million for Q3 2026, compared to $0.9 million in Q2 2026, reflecting variability in block-building and the Company’s continued prioritization of capital and resource deployment toward Imperium.
• Net income for Q3 2026 was $54.5 million, compared to a net loss of $34.9 million in Q2 2026. Net income was primarily driven by $58.3 million of non-cash unrealized gains on digital assets resulting from ETH price appreciation during the quarter and $3.6 million of realized gains on digital asset transactions, partially offset by a $5.7 million impairment loss on intangible digital assets. Results excluding these items would have been materially lower, and future results may vary significantly with digital asset prices.

Balance Sheet Overview

• Total assets were $176.1 million as of September 30, 2026, compared to $89.3 million as of June 30, 2026, primarily reflecting increases in the fair value of digital asset holdings due to ETH price appreciation and the deployment of $27.0 million of new DeFi protocol borrowings.
• Digital assets held in liquidity pool positions grew to $40.9 million as of September 30, 2026, from $7.6 million as of June 30, 2026, as Imperium scaled its paired liquidity pool strategy across Ethereum mainnet and Base.
• Total liabilities increased to $80.0 million as of September 30, 2026, compared to $50.4 million as of June 30, 2026, presented net of unamortized debt discounts of $3.4 million and $4.3 million, respectively. Loans payable to DeFi protocols were $63.0 million as of September 30, 2026, compared to $36.0 million as of June 30, 2026, reflecting $27.0 million of new DeFi protocol borrowings during the quarter to support the expansion of Imperium’s paired liquidity pool positions. These borrowings are collateralized by digital assets and may be subject to liquidation if collateral values decline. The Company continues to actively monitor collateral levels across its DeFi positions.
• Common shares outstanding (including unvested restricted common stock) were 53.1 million as of September 30, 2026. During Q3 2026, the Company received net proceeds of approximately $1.5 million from sales under its At-The-Market (“ATM”) Agreement.

Michael Prevoznik, Chief Financial Officer, stated, “This quarter showed what Imperium can do at scale. Gross profit more than doubled quarter-over-quarter and our gross margin expanded to 86%, as DeFi revenues grew to represent the large majority of our total revenue. Reaching our $6 million gross profit target in nine months is a meaningful milestone, and we remain focused on scaling revenue and gross profit while managing our balance sheet with discipline.”

Company Commentary and Outlook

Imperium remains BTCS’s core strategic focus for 2026. During the third quarter, the Company significantly scaled Imperium’s paired liquidity pool positions and, in September, expanded Imperium onto Base, an Ethereum Layer-2 network created by Coinbase, marking the business line’s first expansion beyond Ethereum mainnet. Operating across multiple networks allows Imperium to dynamically allocate liquidity where volume and demand shift, and management views Base as one step in a broader multi-chain roadmap.

“Integrating Base was a major milestone for our engineering team this quarter,” said Ben Hunter, Chief Technology Officer. “Expanding Imperium beyond Ethereum mainnet gave us access to another deep pool of on-chain activity, and our team built and deployed the strategies needed to operate there. We are continuing to refine our existing strategies while evaluating additional networks and opportunities that we believe could further scale Imperium.”

Having surpassed its full-year gross profit target of $6 million through the first nine months of 2026, the Company expects Imperium to remain the primary driver of revenue and gross profit through the remainder of the year. The Company continues to evaluate additional strategies and networks for Imperium that it believes may further scale the business.

As previously announced, in September Imperium completed the preparatory compliance steps for tokenized-equity liquidity provisioning under the SEC’s Covered Firm exemption. Management views tokenized equities as a natural extension of Imperium, which already operates in automated market maker pools. BTCS has not yet commenced or committed capital to tokenized-equity liquidity provisioning, and there can be no assurance that it will do so.

Management believes that institutional adoption of digital assets and the tokenization of real-world assets could increase demand for on-chain liquidity and create additional revenue opportunities for the Company.

“Hitting our gross profit target a quarter early reflects the strategy we have been building toward and the hard work from our team,” said Mr. Allen. “We believe Imperium gives BTCS a differentiated way to generate revenue from Ethereum’s on-chain economy, and with a multi-chain approach, we believe we have substantial room to grow. Looking ahead, I remain optimistic about continued institutional adoption of digital assets and see two major drivers shaping the future of on-chain finance: the tokenization of real-world assets and the rise of agentic AI. Tokenization has the potential to bring a broader range of financial assets on-chain, while AI agents could increasingly use these same rails to transact and make payments autonomously. We believe both trends could expand the scale and scope of activity on-chain, creating greater demand for accessible liquidity. Through Imperium, we are building the capabilities to help meet that demand and position BTCS for these emerging opportunities.”

About BTCS:

BTCS Inc. (“BTCS” or the “Company”), short for Blockchain Technology Consensus Solutions, is a Nasdaq-listed operating company that offers public-market access to the blockchain economy. Imperium, the Company’s decentralized finance (“DeFi”) business, deploys capital into on-chain liquidity markets, including automated market maker pools on Ethereum and Layer-2 networks, to generate recurring, high-margin revenue. Imperium draws on the protocol-level expertise of BTCS’s Ethereum infrastructure operations, Builder+ (block building) and NodeOps (staking). BTCS funds its growth through the DeFi/TradFi Accretion Flywheel, an integrated approach to raising capital, accumulating digital assets and deploying them on chain. Learn more at www.btcs.com.

Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the Company’s growth prospects, revenue expectations (including from Imperium), profitability and margin targets (including the Company’s gross profit target for 2026), the expansion of Imperium onto Base and additional networks, the potential expansion of Imperium into tokenized-equity liquidity provisioning and the Company’s ability to rely on the SEC’s Covered Firm exemption, the Company’s ability to scale its liquidity pool positions, the tokenization of real-world assets and the adoption of agentic AI, market positioning, business strategy, regulatory developments (including the CLARITY Act), and expectations for digital asset markets. Words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “predict,” “intend,” “target,” “seek,” “positioned” or similar expressions identify forward-looking statements. These statements are based on current expectations and assumptions and are subject to risks and uncertainties, including volatility in digital asset markets, including the market price of ETH and other digital assets, and concentration risk from the Company’s Ethereum-first strategy; the significant contribution of unrealized gains on digital assets to the Company’s net income, which may reverse in future periods; regulatory developments affecting digital assets and blockchain technology, including the uncertain outcome of pending legislation such as the CLARITY Act and the regulation of DeFi protocols and Layer-2 networks; competition in block-building, staking, and DeFi markets; operational risks associated with Builder+, Imperium, and NodeOps, including smart contract vulnerabilities, DeFi protocol failures, counterparty risks, impermanent loss and liquidity risks associated with DeFi lending, borrowing, and liquidity provision activities, and the Company’s reliance on third-party DeFi protocols; risks related to the Company’s use of leverage and collateralization requirements, including increased DeFi protocol borrowings and the risk of liquidation of collateral; the risk that results achieved in prior periods, including the Company’s third quarter 2026 gross profit, may not be indicative of future results; risks that a qualifying Tokenized Securities Venue may not become operational, that the SEC’s exemptive relief may be modified, withdrawn or expire, or that tokenized-equity markets may not develop as anticipated; risks that the Company’s multi-chain expansion strategy may not produce the anticipated benefits; technological implementation challenges, cybersecurity risks, and potential loss or theft of digital assets; risks related to the Ethereum network and Layer-2 networks such as Base, including fluctuations in transaction volumes and blockspace demand, and changes in network protocols, consensus mechanisms, or gas fee structures; general economic and market conditions; and other risks set forth in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2025. Undue reliance should not be placed on forward-looking statements, which speak only as of the date of this release. The Company expressly disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

For more information, follow us on:
X: https://x.com/NasdaqBTCS
LinkedIn: https://www.linkedin.com/company/nasdaq-btcs
Facebook: https://www.facebook.com/NasdaqBTCS

Investor Relations:
Charles Allen – CEO
X: @Charles_BTCS
Email: ir@btcs.com

Financials

The tables below are derived from the Company’s unaudited condensed financial statements included in its Quarterly Report on Form 10-Q filed on November 12, 2026, with the Securities and Exchange Commission. Please refer to the Form 10-Q for complete financial statements, accompanying notes, and further information regarding the Company’s results of operations and financial condition for the fiscal quarters ended September 30, 2026 and 2025. Please also refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 for a discussion of risk factors applicable to the Company and its business.

BTCS Inc. Condensed Balance Sheets (Unaudited)
		September 30,				December 31,
		2026				2025
Assets:
Current assets:
Cash and cash equivalents		$	463,250			$	1,526,395
Stablecoins			859,577				1,539,064
Digital assets – treasury			225,384				2,388,607
Digital assets – DeFi			125,097,651				177,718,244
Digital assets – staked			7,730,236				30,657,401
Digital assets – liquidity pool positions			40,947,203				–
Digital assets – non-fungible tokens			20,867				41,690
Prepaid expenses			147,031				146,031
Total current assets			175,491,199				214,017,432
Investments (Cost $600,000)			600,000				600,000
Property and equipment, net			11,834				14,390
Total Assets		$	176,103,033			$	214,631,822
Liabilities and Stockholders’ Equity:
Current liabilities:
Accounts payable and accrued expenses		$	60,763			$	38,525
Accrued compensation			1,623,092				1,609,208
Accrued interest			766,468				225,115
Loans payable – DeFi protocol			63,007,700				61,500,000
Convertible notes payable, net – current portion			14,505,171				–
Warrant liabilities			–				–
Total current liabilities			79,963,194				63,372,848
Convertible notes payable, net – non-current portion			–				11,842,195
Total liabilities			79,963,194				75,215,043
Commitments and contingencies (Note 11)
Stockholders’ equity:
Preferred Stock, $0.001 par value per share; 20,000,000 shares authorized, of which:
Series V Preferred Stock; 15,671,405 and 15,671,405 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively			1,975,701				1,975,701
Common Stock, $0.001 par value per share; 975,000,000 shares authorized; 53,110,329 and 46,852,737 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively			53,110				46,853
Additional paid-in capital			316,947,516				310,695,935
Accumulated deficit			(222,836,488	)			(173,301,710	)
Total stockholders’ equity			96,139,839				139,416,779
Total Liabilities and Stockholders’ Equity		$	176,103,033			$	214,631,822

BTCS Inc. Condensed Statements of Operations (Unaudited)
		For the Three Months Ended								For the Nine Months Ended
		September 30,								September 30,
		2026				2025				2026				2025
Revenues
Blockchain infrastructure revenues		$	587,025			$	4,215,224			$	2,667,025			$	8,676,357
DeFi revenues			3,505,656				723,279				6,019,472				726,843
Total revenues			4,092,681				4,938,503				8,686,497				9,403,200
Cost of revenues
Blockchain infrastructure costs			571,388				3,843,634				2,638,576				8,265,426
DeFi costs			20,850				6,916				39,000				6,916
Total cost of revenues			592,238				3,850,550				2,677,576				8,272,342
Gross profit			3,500,443				1,087,953				6,008,921				1,130,858
Operating expenses:
Professional fees			140,176				887,200				818,115				1,461,026
General and administrative			226,522				610,568				799,399				1,254,770
Research and development			86,156				145,592				248,655				548,386
Compensation and related expenses			2,820,513				763,804				8,007,276				2,245,406
Marketing			190,193				256,165				275,804				524,198
Impairment loss on intangible digital assets			5,710,662				–				11,162,156				–
Realized (gains) losses on digital asset transactions			(3,576,215	)			4,407,773				30,608,647				8,567,681
Unrealized gain on digital assets			(58,345,378	)			(73,724,881	)			(1,240,388	)			(67,987,220	)
Loss on extinguishment of debt			–				8,731				–				8,731
Total operating expenses			(52,747,371	)			(66,645,048	)			50,679,664				(53,377,022	)
Other income (expenses):
Interest expense			(1,715,043	)			(1,496,529	)			(4,864,035	)			(1,718,423	)
Change in fair value of warrant liabilities			–				(647,663	)			–				(587,813	)
Total other income (expenses)			(1,715,043	)			(2,144,192	)			(4,864,035	)			(2,306,236	)
Net income (loss)		$	54,532,771			$	65,588,809			$	(49,534,778	)		$	52,201,644
Basic net income (loss) per share attributable to common stockholders		$	1.15			$	1.48			$	(1.06	)		$	1.83
Diluted net income (loss) per share attributable to common stockholders		$	1.10			$	1.30			$	(1.06	)		$	1.48
Basic weighted average number of common shares outstanding			47,420,927				44,233,030				46,940,068				28,575,472
Diluted weighted average number of common shares outstanding			50,675,409				50,298,201				46,940,068				35,223,608

BTCS Inc. Condensed Statements of Cash Flows (Unaudited)
		For the Nine Months Ended
		September 30,
		2026				2025
Cash flows from operating activities:
Net income (loss)		$	(49,534,778	)		$	52,201,644
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation expense			4,676				2,693
Stock-based compensation			4,631,620				3,850,662
Blockchain infrastructure revenue settled in digital assets			(2,667,025	)			(8,676,357	)
DeFi revenue settled in digital assets			(6,019,472	)			(726,843	)
Blockchain-based payments settled in digital assets			2,564,815				8,115,551
DeFi interest expense settled in digital assets			855,983				1,453
Blockchain network fees settled in digital assets			2,290				10,050
Change in fair value of warrant liabilities			–				587,813
Amortization on debt discount and issuance costs			2,662,976				754,394
Realized losses on digital asset transactions			30,608,647				8,567,681
Unrealized gains on digital assets			(1,240,388	)			(67,987,220	)
Impairment loss on intangible digital assets			11,162,156				–
Changes in operating assets and liabilities:
Stablecoins			2,981,564				(292,088	)
Prepaid expenses and other current assets			(1,000	)			(90,768	)
Accounts payable and accrued expenses			22,238				16,391
Accrued compensation			865,978				(2,855,467	)
Accrued interest			541,353				681,173
Net cash used in operating activities			(2,558,367	)			(5,839,238	)
Cash flows from investing activities:
Purchase of productive digital assets			–				(143,359,741	)
Proceeds from the sale of productive digital assets			–				3,240,171
Purchase of investments			–				(400,000	)
Purchase of property and equipment			(2,120	)			(8,022	)
Sale of property and equipment			–				1,750
Net cash used in investing activities			(2,120	)			(140,525,842	)
Cash flows from financing activities:
Net proceeds from issuance common stock/ At-the-market offering			1,497,342				135,160,842
Payments for shares repurchased			–				(3,000,000	)
Proceeds from issuance of convertible notes, net			–				16,843,500
Payments of debt issuance costs			–				(130,989	)
Net cash provided by financing activities			1,497,342				148,873,353
Net increase (decrease) in cash			(1,063,145	)			2,508,273
Cash, beginning of period			1,526,395				1,977,778
Cash, end of period		$	463,250			$	4,486,051
Supplemental disclosure of cash flow information:
Cash paid for interest		$	803,724			$	298,567
Supplemental disclosure of non-cash investing, financing and other activities:
Series V Preferred Stock Distribution		$	–			$	180,688
Non-cash discount on convertible notes			–				1,017,026
Dividends distributions paid in ETH			(723,218	)			–
Issuance of common stock upon non-cash exercise of warrants and stock options			–				8,134,516
DeFi borrowing activity:
Stablecoins received against ETH collateral from new DeFi borrowing			28,000,000				57,947,000
ETH swapped to stablecoins to fund settlement of DeFi borrowing principal			26,492,300				1,447,000
ETH swapped to stablecoins to fund settlement of DeFi interest			855,983				1,453
Extinguishment of USDT-denominated debt via on-chain protocol debt swap			–				1,500,000
Issuance of GHO-denominated debt via on-chain protocol debt swap			–				(1,500,000	)
Liquidity pool activity:
ETH swapped into stablecoins for liquidity pool deployment			23,814,365				–
Stablecoins swapped into ETH for liquidity pool deployment			(62,830,517	)			–
LP fee rewards (ETH) swapped into stablecoins, pending redeployment			1,427,606				–
Deployments of digital assets into liquidity pool positions			(287,305,499	)			–
Withdrawals of digital assets from liquidity pool positions			242,362,060				–
Other digital asset activity:
Digital assets swapped for stablecoins			117,247				–
Digital assets swapped to acquire NFTs			–				191,256

CEO interview to focus on underlying business fundamentals, technology-enabled recurring revenue opportunities, capital discipline and measurable long-term execution

LOS ANGELES, California, Nov. 12, 2026 (GLOBE NEWSWIRE) — OFA Group (Nasdaq: OFAL) (the “Company” or “OFA”), a technology-driven architecture, real estate development and asset management company, today announced that Chief Executive Officer Larry Wong will participate in an investor interview addressing recent share-price volatility, the Company’s reported asset base, its AI technology commercialization strategy and the development of its Japan business initiatives.

The discussion is intended to provide shareholders and prospective investors with additional context for evaluating OFA’s business fundamentals and strategic priorities beyond short-term stock-price movements. Management will also outline the operating milestones through which it believes investors can assess the Company’s execution over time.

“We recognize the concerns of shareholders regarding OFA’s recent stock performance,” said Larry Wong, Chief Executive Officer of OFA Group. “We believe our long-term potential should be assessed through our reported assets, technology portfolio, business opportunities and, most importantly, our ability to turn those resources into measurable operating results. We cannot control daily market trading, but we can focus on commercial execution, responsible capital allocation and transparent communication. Those are the foundations on which we intend to build sustainable shareholder value.”

Reported Asset Base and a Focus on Value Creation

As of June 30, 2026, OFA reported approximately $19.81 million in total assets, including approximately $15.18 million in net intangible assets associated with technology platforms and related intellectual property. These are historical balance-sheet amounts, not independent appraisals of current fair market value. Total assets are not equivalent to net assets, equity value or market capitalization and must be evaluated together with liabilities, liquidity, operating results, impairment considerations and future financing requirements.

OFA’s strategy is to translate its reported asset base and technology investments into tangible commercial progress. Management believes that sustained execution and improved visibility into operating results are essential to supporting informed assessments of the Company’s long-term prospects.

Commercializing AI Solutions for Architecture and Construction

OFA has introduced QikBIM, an AI-powered Building Information Modeling platform, and PlanAId, an AI-assisted solution designed to help architecture and construction professionals identify potential building-code issues during the design process. These offerings are intended to address practical workflow challenges in the architecture, engineering and construction industries.

The Company’s commercial objective is to expand beyond traditional project-based professional services toward scalable software solutions, including potential recurring subscription revenue. Management intends to emphasize customer adoption, product development, commercialization progress and revenue generation as meaningful measures of execution. The timing, scale and profitability of any such revenue remain uncertain, and the Company is not announcing new customer, revenue or subscription metrics in this release.

“Our objective is not simply to develop AI technology,” Mr. Wong said. “It is to create useful products that address real customer needs and can ultimately support a more scalable business model. We expect investors to judge that strategy by adoption, revenue development and operating performance—not by promises alone.”

Advancing a Long-Term Asset Management and Development Platform in Japan

On October 9, 2026, OFA announced that its wholly owned subsidiary, OFA Japan Asset Management Co., Ltd., had completed the acquisition and title registration of the former Tokawaen property in Choshi, Japan. Ownership of the approximately 7,062-square-meter residential-zoned coastal parcel was registered with the Chiba District Legal Affairs Bureau on October 1, 2026. OFA is evaluating the site for a potential premium senior living and wellness-oriented concept; the project is at an early conceptual stage, and no development application has been submitted to Choshi City.

Separately, OFA Japan Asset Management was selected by Choshi City as the preferred negotiation rights holder for the proposed Music Park development in Choshi’s Shiomicho area and has entered into a provisional agreement with the City. A definitive lease agreement has not been signed, and discussions regarding lease terms are ongoing. On October 19, 2026, OFA also announced its participation in the market sounding survey for the Naarai Port Green Space Utilization Project, covering approximately 3.71 hectares of coastal green space owned by Chiba Prefecture and Choshi City. Participation in the sounding survey is preliminary and does not constitute a selection, award or agreement. Together, these initiatives reflect the Company’s interest in building a longer-term presence in Japanese asset management, development and related operations.

The Japan opportunities are at different stages. Except for the completed Tokawaen acquisition as previously announced, the referenced initiatives should not be interpreted as completed property acquisitions, executed development agreements, approved projects or assured sources of future revenue. They remain subject, as applicable, to negotiations, regulatory approvals, financing, development planning, construction and other conditions.

Responding to Market Volatility with Execution and Transparency

OFA recognizes that significant volatility and unusually high trading volume in OFAL shares, including on October 9, 2026, have generated investor questions.

Daily reported short-sale volume is not the same as outstanding short interest, and trading statistics alone do not establish the causes of price movements or indicate improper trading activity. OFA does not draw conclusions about specific market participants from trading data. The Company remains committed to fair disclosure, regulatory compliance and timely communication of material corporate developments.

“We understand that investors want clarity during periods of market volatility,” Mr. Wong added. “Our strongest response is to keep advancing the business, maintain financial discipline and communicate material progress accurately and consistently. We believe confidence must be earned through results.”

Priorities for the Next Stage of Growth

During the interview, management will discuss the priorities it believes are most relevant to evaluating future progress: (i) commercial adoption and revenue development of QikBIM and PlanAId; (ii) disciplined planning and execution of Japan asset management and development initiatives; (iii) prudent liquidity management, financing decisions and capital allocation; and (iv) transparent reporting of material operating and strategic milestones. These priorities are objectives rather than commitments to achieve particular financial results or timelines.

“OFA’s investment story extends beyond any single trading day,” Mr. Wong concluded. “Our responsibility is to demonstrate progress through real business activity, practical innovation, careful stewardship of capital and sustainable growth. We remain focused on earning long-term shareholder trust.”

Interview Availability

The interview, titled “Beyond the Stock Price: Understanding OFA Group’s Assets, Technology and Long-Term Value,” is scheduled to be available on YouTube on November 19, 2026.

About OFA Group

OFA Group (Nasdaq: OFAL) provides architecture, design and project management services and is pursuing technology-enabled business opportunities, including AI-assisted architectural software, real estate development and asset management. Additional information is available in the Company’s filings with the U.S. Securities and Exchange Commission.

Media Contact
Susan Fortner
President, BPR International
Susan@BPRInternational
614.562.0054

Investor Relations
OFA Group | Website: https://ofagroup.com | Email: info@ofagroup.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable U.S. securities laws. Such statements include, without limitation, statements concerning OFA’s strategy, objectives, anticipated capabilities and commercialization of QikBIM and PlanAId, potential customer adoption and subscription or other revenue, Japan asset management and development initiatives, anticipated operating milestones, financing and capital allocation, and long-term growth and shareholder value. Forward-looking statements may be identified by words such as “believe,” “expect,” “intend,” “plan,” “aim,” “anticipate,” “may,” “will,” “could,” “should,” “potential,” and similar expressions. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that may cause actual results to differ materially from those expressed or implied. Such factors include, among others, the Company’s liquidity and capital requirements; potential additional financing and dilution; going-concern risks; Nasdaq continued listing compliance; market volatility; technology development, competition, product acceptance and customer adoption; execution and profitability of commercialization plans; intellectual-property valuation and potential impairment; property and project approvals, negotiations, financing and construction risks in Japan; and other risks described in OFA’s filings with the U.S. Securities and Exchange Commission, including applicable risk factors. Readers should not place undue reliance on these statements. Forward-looking statements speak only as of the date hereof, and OFA undertakes no obligation to update them except as required by law.

Designs relate to the high-purity gas systems the Company delivers alongside its software-led factory monitoring solutions

WUXI, China, Nov. 12, 2026 (GLOBE NEWSWIRE) — HUHUTECH International Group Inc. (Nasdaq: HUHU) (“HUHUTECH” or the “Company”), a system integration provider that designs and implements integrated facility management systems and industrial automation monitoring systems for the optoelectronic, semiconductor, telecom, and logistics industries, today announced that its subsidiary, Jiangsu HUHU Electromechanical Technology Co., Ltd., has received Notices of Grant from the China National Intellectual Property Administration (“CNIPA”) for two utility model patent applications: “High-Sealing-Performance Multi-Gas Compression Purifier” (Application No. 202522531299.X) and “Flow Control Valve and Mass Flow Controller” (Application No. 202522694773.0). The patents are expected to be formally granted, with certificates issued, in approximately two months upon completion of customary registration formalities.

HUHUTECH’s business is built on two core offerings: High-Purity Process Systems (“HPS”), gas and chemical supply systems that the Company designs, installs and services for its customers, and its software-led Factory Management & Control System (“FMCS”), which consolidates a facility’s monitoring systems into a single control center. The Company completed 284 system integration projects in fiscal year 2025.

The purifier design automates filter cleaning without stopping the unit or removing the filter by hand, and is intended to reduce maintenance labor and support continuous operation where an uninterrupted gas supply is required.

HUHUTECH develops its own facility monitoring and control software, which forms the core of its FMCS offering and provides real-time data acquisition, alarm and early-warning notification, and historical data analysis for gas, chemical, process cooling water, wastewater and central utility systems. Its modular design allows customers to add detectors, gas cabinets or valve manifold boxes without reprogramming the control system, reducing errors and downtime as facilities expand. The software runs on Windows, Linux, Android and iOS and supports mobile access for facility teams.

Upon grant of these two patents, the Company’s intellectual property portfolio will comprise 37 software copyrights, 4 invention patents, and 38 utility model patents.

“Software sits at the center of what we deliver, from engineering design through installation and ongoing monitoring,” said Mr. Yujun Xiao, Chief Executive Officer of HUHUTECH. “Our in-house monitoring software helps customers spot problems early, and this purifier design is intended to reduce the hands-on maintenance their gas systems require. As our work grows across Asia, Europe, and the United States, we plan to apply our software and these new designs in the systems we deliver.”

About HUHUTECH International Group Inc.

HUHUTECH International Group Inc. (Nasdaq: HUHU) is a professional system integration provider that designs and implements integrated facility management systems and industrial automation monitoring systems for the optoelectronic, semiconductor, telecom, and logistics industries. Through its operating subsidiaries in the People’s Republic of China, Japan, the United States, Germany, and Singapore, the Company delivers customized fixed-price engagements spanning project planning, system coding, hardware installation and configuration, and also supplies related equipment. HUHU China holds a first-class construction enterprise qualification and maintains “high-tech enterprise” tax status in the PRC through December 2028. The Company is headquartered in Wuxi, Jiangsu Province, China. For more information, visit https://ir.huhutech.com.cn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the expected grant of the two patents and issuance of the patent certificates, and the Company’s plans to apply its software and the new designs in the systems it delivers. These statements are identified by words such as “expect,” “anticipate,” “believe,” “intend,” “plan,” “will,” and similar expressions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. These factors include, among others, the Company’s ability to secure and complete system integration contracts; customer concentration and the collectability of accounts receivable; competitive conditions in the optoelectronic, semiconductor, telecom and logistics end markets; the pace of customer adoption in newly entered geographies; the Company’s ability to obtain and renew bank financing; currency exchange fluctuations and PRC restrictions on the conversion and remittance of RMB; changes in PRC, Japanese, U.S., German and Singaporean law, taxation and trade policy; and the additional risks described under “Item 3.D. Risk Factors” in the Company’s annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. Copies are available at www.sec.gov. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Company Contact

Email: ir@huhutech.com
Website: www.huhutech.com  

Investor Relations Contact

Matthew Abenante, IRC
President
Strategic Investor Relations LLC
Phone: +1 (347) 947-2093
Email: matthew@strategic-ir.com
Web: www.strategic-ir.com  

# # #