Tag: GlobeNewswire

Q3 2026 ending cash expected to increase more than 50% versus Q2 2026

Pending HEI launch expected to expand Beeline’s home-finance offerings with a new product less tied to interest rates

PROVIDENCE, R.I. , Oct. 06, 2026 (GLOBE NEWSWIRE) — via IBN — Beeline Holdings, Inc. (NASDAQ: BLNE) (“Beeline” or the “Company”), a digital mortgage platform redefining the path to homeownership and property investment, today provided a preliminary update on its third-quarter 2026 performance and announced the pending launch of a Home Equity Investment (“HEI”) product as the Company continues to expand its product offering and reduce its dependence on traditional mortgage market cycles and volatile interest rates.  

Based on preliminary results, Beeline expects Q3 2026 revenue to be the second-highest quarterly revenue in Company history  and the highest since 2021, while achieving the highest margins in Company history.

The Company expects its Q3 2026 net loss to be lower than the second quarter 2026 net loss. The Company also expects its Q3 2026 adjusted EBITDA loss to improve to the lowest level in 5 years reflecting continued improvement in operating performance despite a mortgage environment challenged by elevated interest rates.

In addition, Beeline expects to end Q3 2026 with a cash position at least 50% higher than at the end of Q2 2026.

Management believes these results demonstrate the impact of Beeline’s strategic decision in April to shift its mortgage product mix toward Non-QM lending, particularly DSCR and Bank Statement loans serving property investors and self-employed borrowers.

“Q3 is expected to demonstrate that the strategic changes we made beginning in April are working,” said Nick Liuzza, CEO and Co-Founder of Beeline. “We expect to deliver the second-highest revenue quarter in our history and our highest margins ever and our lowest adjusted EBITDA loss since 2021, while strengthening our cash position. We believe the shift toward Non-QM was the right decision, and the results are beginning to demonstrate why.”

Liuzza continued, “Now we are preparing to add another significant growth opportunity with HEI. Homeowners have accumulated substantial equity, but higher interest rates can make accessing that equity through a traditional cash-out refinance or HELOC less attractive or, for some homeowners, unavailable. HEI gives us another way to serve those customers by providing access to home equity without a traditional loan or monthly principal and interest payment. Importantly, it also expands Beeline into a product category that is less directly tied to mortgage rates.”

Building Beyond the Traditional Mortgage Cycle

HEIs are growing in popularity, with more than $4 billion funded in the U.S. to date and institutional capital and securitization activity continuing to expand. Beeline’s model follows a mortgage-style process that incorporates applicable disclosures and documentation requirements, with the goal of providing a transparent, compliant and consumer-friendly experience.

Beeline is offering a HEI designed to provide homeowners with access to their home equity without traditional income documentation or required monthly payments. Structured as a loan, the HEI may have a 10-year term or align with the remaining term of the homeowner’s existing mortgage. Qualification requirements are generally less restrictive than those of a traditional mortgage, with credit scores as low as 500 potentially eligible in certain circumstances.

Management believes the emerging HEI category represents a significant opportunity as homeowners hold substantial accumulated equity while many remain reluctant to refinance existing low-rate mortgages or may not qualify for traditional home-equity financing.

By combining its growing Non-QM mortgage business with HEI, Beeline is building a broader home-finance platform designed to perform across different interest-rate environments.

“Our objective is to build a company that does not need interest rates to fall in order to grow,” Liuzza said. “Non-QM is already broadening our opportunity, and HEI gives us another large addressable market that is not driven by the same interest-rate dynamics as traditional mortgages. We believe the combination positions Beeline to continue building momentum regardless of where mortgage rates move.”

The Company will provide complete third quarter 2026 financial results in the Form 10-Q with full details, including the required reconciliations of non-GAAP to GAAP financial measures. The forecasts contained in this press release are subject to the completion of quarter-end financial close and auditor review processes and any adjustments which result therefrom.

About Beeline Holdings, Inc.

Beeline Holdings, Inc. (NASDAQ: BLNE) is a technology-driven mortgage and home-finance company focused on simplifying and accelerating the path to homeownership, property investment and home-equity access. Through its digital platform, Beeline offers mortgage products designed for traditional borrowers, self-employed borrowers and real estate investors and is expanding its platform into home equity investment products.

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 preliminary third-quarter financial results, expected revenue, margins, third quarter 2026 loss, adjusted EBITDA, cash position, the anticipated benefits of Beeline’s Non-QM strategy, the pending launch and potential growth and benefits of its HEI product.

Forward-looking statements are prefaced by words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “should,” “would,” “intend,” “seem,” “potential,” “appear,” “continue,” “future,” “believe,” “estimate,” “forecast,” “project,” “target,” and similar words. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. We caution you, therefore, against relying on any of these forward-looking statements. Our actual results may differ materially from those contemplated by the forward-looking statements for a variety of reasons, including, without limitation, the possibility that estimates, projections and assumptions on which the forward-looking statements are based prove to be incorrect including our revenue or operating results being less than expected  and adjustments that may result from financial statement close and auditor review processes,  future interest rate changes, the risks arising from the impact of affordability, inflation, tariffs, the war in the Middle East, and a recession which may result on the Company’s business, prospective customers, and on the national and global economy, our need for additional capital to meet future goals and milestone targets, our ability to attract homeowners to our products and services, our ability to comply with applicable regulatory requirements and new regulations and developments that may arise including the potential for regulatory changes regarding digital assets, artificial intelligence, and other areas that impact and may in the future impact the Company’s business, the possibility that our expectations and perceived benefits with respect to strategic transactions, and the risk that software and technology infrastructure on which we depend fails to perform as designed or intended. Additional information regarding these and other risks is contained in Beeline’s filings with the Securities and Exchange Commission, including the Risk Factors contained in the Company’s 2025 Annual Report on Form 10-K and our prospectus supplement dated March 10, 2026. Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Contacts

Investor Relations

ir@makeabeeline.com

Media Inquiries

press@makeabeeline.com

Corporate Communications:
IBN.Ai
Austin, Texas
www.IBN.Ai
512.354.7000 Office
Editor@IBN.Ai

Q3 2026 ending cash expected to increase more than 50% versus Q2 2026

Pending HEI launch expected to expand Beeline’s home-finance offerings with a new product less tied to interest rates

PROVIDENCE, R.I. , Oct. 06, 2026 (GLOBE NEWSWIRE) — via IBN — Beeline Holdings, Inc. (NASDAQ: BLNE) (“Beeline” or the “Company”), a digital mortgage platform redefining the path to homeownership and property investment, today provided a preliminary update on its third-quarter 2026 performance and announced the pending launch of a Home Equity Investment (“HEI”) product as the Company continues to expand its product offering and reduce its dependence on traditional mortgage market cycles and volatile interest rates.  

Based on preliminary results, Beeline expects Q3 2026 revenue to be the second-highest quarterly revenue in Company history  and the highest since 2021, while achieving the highest margins in Company history.

The Company expects its Q3 2026 net loss to be lower than the second quarter 2026 net loss. The Company also expects its Q3 2026 adjusted EBITDA loss to improve to the lowest level in 5 years reflecting continued improvement in operating performance despite a mortgage environment challenged by elevated interest rates.

In addition, Beeline expects to end Q3 2026 with a cash position at least 50% higher than at the end of Q2 2026.

Management believes these results demonstrate the impact of Beeline’s strategic decision in April to shift its mortgage product mix toward Non-QM lending, particularly DSCR and Bank Statement loans serving property investors and self-employed borrowers.

“Q3 is expected to demonstrate that the strategic changes we made beginning in April are working,” said Nick Liuzza, CEO and Co-Founder of Beeline. “We expect to deliver the second-highest revenue quarter in our history and our highest margins ever and our lowest adjusted EBITDA loss since 2021, while strengthening our cash position. We believe the shift toward Non-QM was the right decision, and the results are beginning to demonstrate why.”

Liuzza continued, “Now we are preparing to add another significant growth opportunity with HEI. Homeowners have accumulated substantial equity, but higher interest rates can make accessing that equity through a traditional cash-out refinance or HELOC less attractive or, for some homeowners, unavailable. HEI gives us another way to serve those customers by providing access to home equity without a traditional loan or monthly principal and interest payment. Importantly, it also expands Beeline into a product category that is less directly tied to mortgage rates.”

Building Beyond the Traditional Mortgage Cycle

HEIs are growing in popularity, with more than $4 billion funded in the U.S. to date and institutional capital and securitization activity continuing to expand. Beeline’s model follows a mortgage-style process that incorporates applicable disclosures and documentation requirements, with the goal of providing a transparent, compliant and consumer-friendly experience.

Beeline is offering a HEI designed to provide homeowners with access to their home equity without traditional income documentation or required monthly payments. Structured as a loan, the HEI may have a 10-year term or align with the remaining term of the homeowner’s existing mortgage. Qualification requirements are generally less restrictive than those of a traditional mortgage, with credit scores as low as 500 potentially eligible in certain circumstances.

Management believes the emerging HEI category represents a significant opportunity as homeowners hold substantial accumulated equity while many remain reluctant to refinance existing low-rate mortgages or may not qualify for traditional home-equity financing.

By combining its growing Non-QM mortgage business with HEI, Beeline is building a broader home-finance platform designed to perform across different interest-rate environments.

“Our objective is to build a company that does not need interest rates to fall in order to grow,” Liuzza said. “Non-QM is already broadening our opportunity, and HEI gives us another large addressable market that is not driven by the same interest-rate dynamics as traditional mortgages. We believe the combination positions Beeline to continue building momentum regardless of where mortgage rates move.”

The Company will provide complete third quarter 2026 financial results in the Form 10-Q with full details, including the required reconciliations of non-GAAP to GAAP financial measures. The forecasts contained in this press release are subject to the completion of quarter-end financial close and auditor review processes and any adjustments which result therefrom.

About Beeline Holdings, Inc.

Beeline Holdings, Inc. (NASDAQ: BLNE) is a technology-driven mortgage and home-finance company focused on simplifying and accelerating the path to homeownership, property investment and home-equity access. Through its digital platform, Beeline offers mortgage products designed for traditional borrowers, self-employed borrowers and real estate investors and is expanding its platform into home equity investment products.

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 preliminary third-quarter financial results, expected revenue, margins, third quarter 2026 loss, adjusted EBITDA, cash position, the anticipated benefits of Beeline’s Non-QM strategy, the pending launch and potential growth and benefits of its HEI product.

Forward-looking statements are prefaced by words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “should,” “would,” “intend,” “seem,” “potential,” “appear,” “continue,” “future,” “believe,” “estimate,” “forecast,” “project,” “target,” and similar words. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. We caution you, therefore, against relying on any of these forward-looking statements. Our actual results may differ materially from those contemplated by the forward-looking statements for a variety of reasons, including, without limitation, the possibility that estimates, projections and assumptions on which the forward-looking statements are based prove to be incorrect including our revenue or operating results being less than expected  and adjustments that may result from financial statement close and auditor review processes,  future interest rate changes, the risks arising from the impact of affordability, inflation, tariffs, the war in the Middle East, and a recession which may result on the Company’s business, prospective customers, and on the national and global economy, our need for additional capital to meet future goals and milestone targets, our ability to attract homeowners to our products and services, our ability to comply with applicable regulatory requirements and new regulations and developments that may arise including the potential for regulatory changes regarding digital assets, artificial intelligence, and other areas that impact and may in the future impact the Company’s business, the possibility that our expectations and perceived benefits with respect to strategic transactions, and the risk that software and technology infrastructure on which we depend fails to perform as designed or intended. Additional information regarding these and other risks is contained in Beeline’s filings with the Securities and Exchange Commission, including the Risk Factors contained in the Company’s 2025 Annual Report on Form 10-K and our prospectus supplement dated March 10, 2026. Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Contacts

Investor Relations

ir@makeabeeline.com

Media Inquiries

press@makeabeeline.com

Corporate Communications:
IBN.Ai
Austin, Texas
www.IBN.Ai
512.354.7000 Office
Editor@IBN.Ai

GRAND FALLS-WINDSOR, Newfoundland and Labrador, Oct. 06, 2026 (GLOBE NEWSWIRE) — First Atlantic Nickel & Cobalt Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P210) (“First Atlantic” or the “Company”) is pleased to announce that it has closed a no-warrant, non-brokered private placement (the “Offering”) for aggregate gross proceeds of $3,492,000.90. Following this closing, the Company has raised aggregate gross proceeds of approximately $13.4 million from financings completed since September 2026. The Offering consisted of 4,207,230 flow-through common shares of the Company (each, an “FT Share”) issued at a price of $0.83 per FT Share. The price of $0.83 per FT Share represents a premium of approximately 22% to the closing price of the Company’s common shares on the TSX Venture Exchange (the “Exchange”) on October 5, 2026. Each FT Share qualifies as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada). No warrants were issued in connection with the Offering.

“Since September, First Atlantic has raised approximately $13.4 million, including this $3.49 million financing, a very significant development for the Pipestone XL Nickel-Cobalt Alloy Project that will accelerate our exploration and mining development. The funds allow us to significantly expand drilling at Alloy Max and the RPM Zone, drill new targets along the 30-kilometre trend that have never been tested, and develop the exploration access road north toward Atlantic Lake, opening areas that until now could only be reached by helicopter.”

“North America has limited smelting capacity to meet future nickel and cobalt demand. Pipestone XL is a significant, large-scale ophiolite complex approximately 30 kilometres long, where awaruite occurs disseminated in the ultramafic host rock over large areas. It has the potential to be a large source of both metals without smelting, moving directly into downstream refining and bypassing that midstream processing constraint. It is a scalable, environmentally sustainable solution that supports a resilient supply chain and reduces reliance on foreign offshore smelting.”

Adrian Smith, P.Geo., CEO of First Atlantic Nickel & Cobalt Corp.

First Atlantic welcomes calls directly from shareholders and prospective investors. For questions about the Company or the Pipestone XL project, or simply to learn more, investors are invited to call Rob Guzman, Investor Relations, at +1-844-592-6337 or email rob@fanickel.com.

This funding will allow the Company to significantly expand exploration and infill drilling at the Alloy Max and RPM Zones. It will also allow the Company to drill new, previously untested targets and areas of the project that have never been drilled.

The funding will also allow the Company to develop the full exploration access road that will eventually connect Grand Falls-Windsor to the historic Atlantic Lake Zone, designed to follow the magnetic anomaly further north inside the 30-kilometre nickel trend of the Pipestone Ophiolite Complex. As the road is developed, exploration and bedrock stripping along the route will test for additional occurrences of visible awaruite and potential new drill targets, as the Company aims to develop a multi-pit resource at the Pipestone XL Nickel-Cobalt Alloy Project. In each case, these expenditures will be funded only to the extent they qualify as Qualifying Expenditures (as defined below).

PIPESTONE XL: A DISTRICT-SCALE NICKEL-COBALT ALLOY PROJECT

Pipestone XL is First Atlantic’s wholly owned, district-scale project spanning the entire 30-kilometre Pipestone Ophiolite Complex in central Newfoundland, a belt of ultramafic rock enriched in nickel, cobalt, and chromium. The Project hosts multiple zones of awaruite (Ni₃Fe) mineralization, including RPM, Alloy Max, Super Gulp, Atlantic Lake, and Chrome Pond. The RPM Zone is the most advanced, with drilling having outlined magnetically recoverable awaruite over more than 1.2 kilometres of strike and more than 800 metres of width. Drilling is ongoing at Alloy Max, a second large-scale zone spanning approximately 4 kilometres of strike and up to 1.5 kilometres in width, making it larger than the RPM Zone.

Awaruite at Pipestone XL is the product of serpentinization, which drove sulphur out of the system and left a sulphur-free alloy which carries no acid mine drainage risk and can be concentrated by the Company’s ONSHORE MAX™ process without smelting, roasting, or high-pressure acid leaching. This smelter-free pathway addresses the midstream bottleneck in North America, where the United States has no operating nickel smelters and only two remain in Canada, and supports a vertically integrated supply chain moving directly from mine to downstream battery refining, stainless steel and specialty alloy production. The Company is also evaluating secondary chromium mineralization as a potential co-product, along with low-carbon Engineered Mineral Hydrogen (EMH) in partnership with VEMA Hydrogen¹. Investors can learn more about VEMA’s Engineered Mineral Hydrogen at https://www.vema.earth.

Figure 1: Map showing multiple target zones across the 30-kilometer nickel trend over total magnetic intensity (TMI) at the Pipestone XL Project highlighting the showing, the 30-kilometre Pipestone Ophiolite Complex and the RPM, Alloy Max, Super Gulp, Atlantic Lake and Chrome Pond Zones.

Pipestone XL is located in an established infrastructure corridor with year-round road access, nearby high-voltage transmission and clean hydroelectric power from the Bay d’Espoir generating station. It is also located approximately 200 kilometres from Gander International Airport and Vale’s Long Harbour nickel processing plant. This positioning aligns with growing U.S. and allied policy focus on critical mineral supply chains, including nickel’s addition to the U.S. critical minerals list in 2022, the January 2026 White House proclamation on processed critical minerals², the Company’s acceptance into the U.S. Defense Industrial Base Consortium³, and the June 2026 G7 Leaders’ Declaration naming nickel one of two pilot critical minerals for allied investment and offtake⁴.

Newfoundland and Labrador is consistently recognized as one of the world’s leading mining jurisdictions in the Fraser Institute’s Annual Survey of Mining Companies, ranking 7th globally on the Policy Perception Index in the most recent survey, published in February 2026, and placing in the global top 10 for overall investment attractiveness in each of the three prior surveys. Pipestone XL is positioned to become a secure and reliable North American source of nickel and cobalt for the stainless steel, electric vehicle, aerospace, and defense industries.

AWARUITE AT PIPESTONE XL: A SMELTER-FREE NICKEL-COBALT ALLOY (Ni₃Fe)

Awaruite is a naturally occurring, magnetic, sulphur-free nickel-iron-cobalt alloy (Ni₃Fe) containing approximately 77% nickel. Because it already exists in a metallic state, awaruite can be concentrated without smelting, roasting, or high-pressure acid leaching. Mineralogical and electron microprobe analysis at the Company’s RPM Zone has confirmed the awaruite averages 77.62% nickel and 1.69% cobalt, with grades as high as 86.68% nickel and 6.05% cobalt⁵.

Initial metallurgical test work using the Company’s ONSHORE MAX™ (Magnetic Alloy eXtraction) process upgraded rock samples from the project’s RPM Zone into a high-grade alloy concentrate averaging 67.4% nickel and grading up to 71.9% nickel and 1.76% cobalt⁶. Low-intensity magnetic separation first produced a magnetic concentrate grading approximately 1.6% nickel, which flotation then upgraded to the final concentrate. By comparison, a typical nickel concentrate grades 10% to 15% nickel, according to the Nickel Institute. This concentrate can move directly to downstream battery chemical refining or the manufacture of specialty alloys and stainless steel.

The absence of sulphur reduces acid mine drainage risk and related permitting challenges, positioning Pipestone XL to supply North American industries including stainless steel, electric vehicles, aerospace, and defence.

Figure 2: USGS quote on awaruite nickel-iron-cobalt alloy.⁷

The gross proceeds of the Offering will be used to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures,” as those terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”), in connection with the exploration programs described above at the Company’s Pipestone XL Nickel-Cobalt Alloy Project and exploration activities at its Ophiolite X Project in Newfoundland. The Company will incur the Qualifying Expenditures on or before December 31, 2027 and renounce them in favour of subscribers effective December 31, 2026.

All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day, expiring on February 6, 2027, under applicable Canadian securities laws. The Offering remains subject to final acceptance by the Exchange.

No finder’s fees were paid in connection with the Offering.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws, and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.

INVESTOR INFORMATION

The Company’s common shares trade on the TSX Venture Exchange under the symbol “FAN”, on the OTCQB under the symbol “FANCF”, and on several German exchanges, including Frankfurt and Tradegate, under the symbol “P210”. Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at www.fanickel.com.

FOR MORE INFORMATION

First Atlantic Investor Relations, Robert Guzman. Tel: +1-844-592-6337 | Email: rob@fanickel.com

QUALIFIED PERSON

Adrian Smith, P.Geo., a director and the Chief Executive Officer of the Company, is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.

ABOUT FIRST ATLANTIC NICKEL & COBALT CORP.

First Atlantic Nickel & Cobalt Corp. (TSXV: FAN | OTCQB: FANCF | FSE: P210) is a critical mineral exploration company in Newfoundland and Labrador developing the Pipestone XL Nickel-Cobalt (Ni-Fe-Co) Alloy Project. The project spans the entire 30-kilometre Pipestone Ophiolite Complex, where multiple zones, including RPM, Alloy Max, Super Gulp, Atlantic Lake and Chrome Pond, contain awaruite (Ni₃Fe), a naturally occurring magnetic nickel-iron-cobalt alloy of approximately 77% nickel with no sulphur and no sulphides, along with secondary chromium mineralization. Awaruite’s sulphur-free composition removes acid mine drainage risk, while its magnetic properties enable processing through magnetic separation and flotation, eliminating the electricity requirements, emissions and environmental impacts of conventional smelting, roasting or high-pressure acid leaching, while reducing dependence on overseas nickel processing infrastructure.

The U.S. Geological Survey recognized awaruite’s strategic importance in its 2012 Annual Report on Nickel⁸, noting that these deposits may help alleviate prolonged nickel concentrate shortages since the natural alloy is much easier to concentrate than typical nickel sulphide. In 2026, initial metallurgical test work using the Company’s ONSHORE MAX™ (Magnetic Alloy eXtraction) process upgraded RPM Zone material into a high-grade alloy concentrate averaging 67.4% nickel and grading up to 71.9% nickel and 1.76% cobalt, demonstrating a smelter-free, mine-to-refinery pathway. First Atlantic is a member of the U.S. Defense Industrial Base Consortium. The Company is also advancing a parallel geologic hydrogen initiative at Pipestone XL, where the same serpentinization process that formed awaruite also generates natural hydrogen, and has signed a letter of intent with VEMA Hydrogen to jointly develop low-carbon Engineered Mineral Hydrogen (EMH) through a proposed 50/50 joint venture. The Pipestone XL project is located near existing infrastructure with year-round road access and proximity to hydroelectric power, providing favorable logistics for exploration and future development and strengthening First Atlantic’s role to establish a secure and reliable source of North American nickel and cobalt production for the stainless steel, electric vehicle, aerospace, and defense industries. This mission gained importance when the U.S. added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward looking statements

Certain information contained in this news release constitutes “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation (collectively, “forward-looking information”). Forward-looking information is often identified by words such as “anticipates,” “believes,” “expects,” “intends,” “plans,” “may,” “will,” “potential,” and similar expressions.

Forward-looking information in this news release includes statements regarding: final acceptance of the Offering by the Exchange; the intended use of proceeds, the qualification of expenditures as Canadian exploration expenses and flow-through mining expenditures, the incurrence of those expenditures by December 31, 2027 and their renunciation in favour of subscribers effective December 31, 2026; the scope, timing and anticipated results of exploration and metallurgical programs at the Pipestone XL Nickel-Cobalt Alloy Project and Ophiolite X Project, including district-scale drilling, the development of an exploration access road toward the historic Atlantic Lake Zone and exploration and bedrock stripping along its route; expansion and infill drilling at the Alloy Max and RPM Zones, drilling of previously untested targets and the identification of new drill targets; the Company’s aim to develop a multi-pit resource at the Pipestone XL Nickel-Cobalt Alloy Project; the potential capabilities, scalability and benefits of the ONSHORE MAX™ process; the potential to concentrate awaruite without smelting, roasting or high-pressure acid leaching; the suitability of concentrates for downstream refining and the manufacture of battery chemicals, specialty alloys and stainless steel; potential environmental and permitting benefits; and the potential for Pipestone XL to supply North American industrial markets.

This forward-looking information is based on management’s current expectations and assumptions, including that required regulatory approvals will be obtained; planned expenditures will satisfy applicable tax requirements and be incurred and renounced within the specified timelines; necessary permits, personnel, contractors, equipment and laboratory capacity will be available; exploration and metallurgical programs can be completed within anticipated budgets and schedules; the exploration access road can be developed along the planned route within anticipated budgets and schedules; further testing will support the applicability of initial metallurgical results to representative project material and larger-scale operations; any resulting concentrates will meet relevant downstream processing and customer specifications; and that further environmental studies will support the anticipated environmental benefits.

Forward-looking information is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These include failure to obtain regulatory approvals or complete additional financing; changes in market conditions, commodity prices, costs or the availability of financing; failure to incur sufficient qualifying expenditures within the required period, adverse tax determinations or changes in tax laws or their interpretation; exploration results that do not support anticipated mineralization or expansion targets; exploration results that do not support the delineation of mineral resources; permitting, access, cost or construction delays affecting development of the exploration access road; geological and metallurgical variability; the preliminary nature of test results and the risk that such results cannot be replicated at larger scale or achieved economically; concentrate impurities, recovery limitations or failure to meet downstream specifications; permitting delays, environmental liabilities and findings that differ from anticipated environmental benefits; operational, weather, equipment, contractor and laboratory delays; and other risks described in the Company’s continuous disclosure filings available on SEDAR+ at www.sedarplus.ca.

Initial metallurgical results do not establish commercial viability or guarantee future recoveries, concentrate quality or processing performance. There can be no assurance that the anticipated exploration, processing, environmental or commercial outcomes will be achieved.

Although management considers its expectations and assumptions reasonable as of the date of this news release, forward-looking information is not a guarantee of future performance. Readers are cautioned not to place undue reliance on it. Except as required by applicable securities laws, the Company undertakes no obligation to update forward-looking information to reflect subsequent events, circumstances or changes in expectations.

¹ https://fanickel.com/20260608-vema-hydrogen-and-first-atlantic-nickel-cobalt-sign-loi-to-develop-engineered-mineral-hydrogen-at-pipestone-xl-awaruite-project-in-newfoundland
² https://fanickel.com/20260115-first-atlantic-nickel-highlights-relevance-of-pipestone-xl-awaruite-nickel-cobalt-alloy-discovery-to-address-u-s–critical-mineral-supply-chain-vulnerabilities-identified-in-january-14-2026-white-house-proclamation
³ https://fanickel.com/20260331-first-atlantic-nickel-announces-acceptance-into-defense-industrial-base-consortium-dibc—pipestone-xl-smelter-free-nickel-cobalt-alloy-project-addresses-midstream-smelting-bottleneck-in-u-s–defense-supply-chain
⁴ https://fanickel.com/20260619-first-atlantic-nickel-cobalt-highlights-g7-leaders-declaration-on-critical-minerals-g7-names-nickel-one-of-only-two-pilot-minerals-for-a-new-allied-traceability-framework-moves-to-mobilize-equity-investment-and-offtake-and-establishes-a-critical-
⁵ https://fanickel.com/20260521-first-atlantic-nickel-cobalt-reports-electron-microprobe-analysis-returning-77-62-nickel-and-1-69-cobalt-in-awaruite-at-the-rpm-zone-pipestone-xl-project-a-rare-naturally-magnetic-ni-fe-co-high-grade-alloy-mineralogically-capable-of-bypassing-mid
⁶ https://fanickel.com/20260624-first-atlantic-nickel-cobalt-produces-high-grade-alloy-concentrate-up-to-71-9-nickel-and-1-76-cobalt-from-its-pipestone-xl-nickel-cobalt-alloy-project-using-its-first-ever-onshore-max-magnetic-alloy-extraction-recovery-concentration-process-unvei
⁷ https://d9-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/mineral-pubs/nickel/mcs-2012-nicke.pdf
⁸ https://d9-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/mineral-pubs/nickel/mcs-2012-nicke.pdf

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/448ace60-5570-46e8-a872-d671bdc932ad
https://www.globenewswire.com/NewsRoom/AttachmentNg/c98b10b1-2d62-453b-9af8-3491ba8675ae 

GRAND FALLS-WINDSOR, Newfoundland and Labrador, Oct. 06, 2026 (GLOBE NEWSWIRE) — First Atlantic Nickel & Cobalt Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P210) (“First Atlantic” or the “Company”) is pleased to announce that it has closed a no-warrant, non-brokered private placement (the “Offering”) for aggregate gross proceeds of $3,492,000.90. Following this closing, the Company has raised aggregate gross proceeds of approximately $13.4 million from financings completed since September 2026. The Offering consisted of 4,207,230 flow-through common shares of the Company (each, an “FT Share”) issued at a price of $0.83 per FT Share. The price of $0.83 per FT Share represents a premium of approximately 22% to the closing price of the Company’s common shares on the TSX Venture Exchange (the “Exchange”) on October 5, 2026. Each FT Share qualifies as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada). No warrants were issued in connection with the Offering.

“Since September, First Atlantic has raised approximately $13.4 million, including this $3.49 million financing, a very significant development for the Pipestone XL Nickel-Cobalt Alloy Project that will accelerate our exploration and mining development. The funds allow us to significantly expand drilling at Alloy Max and the RPM Zone, drill new targets along the 30-kilometre trend that have never been tested, and develop the exploration access road north toward Atlantic Lake, opening areas that until now could only be reached by helicopter.”

“North America has limited smelting capacity to meet future nickel and cobalt demand. Pipestone XL is a significant, large-scale ophiolite complex approximately 30 kilometres long, where awaruite occurs disseminated in the ultramafic host rock over large areas. It has the potential to be a large source of both metals without smelting, moving directly into downstream refining and bypassing that midstream processing constraint. It is a scalable, environmentally sustainable solution that supports a resilient supply chain and reduces reliance on foreign offshore smelting.”

Adrian Smith, P.Geo., CEO of First Atlantic Nickel & Cobalt Corp.

First Atlantic welcomes calls directly from shareholders and prospective investors. For questions about the Company or the Pipestone XL project, or simply to learn more, investors are invited to call Rob Guzman, Investor Relations, at +1-844-592-6337 or email rob@fanickel.com.

This funding will allow the Company to significantly expand exploration and infill drilling at the Alloy Max and RPM Zones. It will also allow the Company to drill new, previously untested targets and areas of the project that have never been drilled.

The funding will also allow the Company to develop the full exploration access road that will eventually connect Grand Falls-Windsor to the historic Atlantic Lake Zone, designed to follow the magnetic anomaly further north inside the 30-kilometre nickel trend of the Pipestone Ophiolite Complex. As the road is developed, exploration and bedrock stripping along the route will test for additional occurrences of visible awaruite and potential new drill targets, as the Company aims to develop a multi-pit resource at the Pipestone XL Nickel-Cobalt Alloy Project. In each case, these expenditures will be funded only to the extent they qualify as Qualifying Expenditures (as defined below).

PIPESTONE XL: A DISTRICT-SCALE NICKEL-COBALT ALLOY PROJECT

Pipestone XL is First Atlantic’s wholly owned, district-scale project spanning the entire 30-kilometre Pipestone Ophiolite Complex in central Newfoundland, a belt of ultramafic rock enriched in nickel, cobalt, and chromium. The Project hosts multiple zones of awaruite (Ni₃Fe) mineralization, including RPM, Alloy Max, Super Gulp, Atlantic Lake, and Chrome Pond. The RPM Zone is the most advanced, with drilling having outlined magnetically recoverable awaruite over more than 1.2 kilometres of strike and more than 800 metres of width. Drilling is ongoing at Alloy Max, a second large-scale zone spanning approximately 4 kilometres of strike and up to 1.5 kilometres in width, making it larger than the RPM Zone.

Awaruite at Pipestone XL is the product of serpentinization, which drove sulphur out of the system and left a sulphur-free alloy which carries no acid mine drainage risk and can be concentrated by the Company’s ONSHORE MAX™ process without smelting, roasting, or high-pressure acid leaching. This smelter-free pathway addresses the midstream bottleneck in North America, where the United States has no operating nickel smelters and only two remain in Canada, and supports a vertically integrated supply chain moving directly from mine to downstream battery refining, stainless steel and specialty alloy production. The Company is also evaluating secondary chromium mineralization as a potential co-product, along with low-carbon Engineered Mineral Hydrogen (EMH) in partnership with VEMA Hydrogen¹. Investors can learn more about VEMA’s Engineered Mineral Hydrogen at https://www.vema.earth.

Figure 1: Map showing multiple target zones across the 30-kilometer nickel trend over total magnetic intensity (TMI) at the Pipestone XL Project highlighting the showing, the 30-kilometre Pipestone Ophiolite Complex and the RPM, Alloy Max, Super Gulp, Atlantic Lake and Chrome Pond Zones.

Pipestone XL is located in an established infrastructure corridor with year-round road access, nearby high-voltage transmission and clean hydroelectric power from the Bay d’Espoir generating station. It is also located approximately 200 kilometres from Gander International Airport and Vale’s Long Harbour nickel processing plant. This positioning aligns with growing U.S. and allied policy focus on critical mineral supply chains, including nickel’s addition to the U.S. critical minerals list in 2022, the January 2026 White House proclamation on processed critical minerals², the Company’s acceptance into the U.S. Defense Industrial Base Consortium³, and the June 2026 G7 Leaders’ Declaration naming nickel one of two pilot critical minerals for allied investment and offtake⁴.

Newfoundland and Labrador is consistently recognized as one of the world’s leading mining jurisdictions in the Fraser Institute’s Annual Survey of Mining Companies, ranking 7th globally on the Policy Perception Index in the most recent survey, published in February 2026, and placing in the global top 10 for overall investment attractiveness in each of the three prior surveys. Pipestone XL is positioned to become a secure and reliable North American source of nickel and cobalt for the stainless steel, electric vehicle, aerospace, and defense industries.

AWARUITE AT PIPESTONE XL: A SMELTER-FREE NICKEL-COBALT ALLOY (Ni₃Fe)

Awaruite is a naturally occurring, magnetic, sulphur-free nickel-iron-cobalt alloy (Ni₃Fe) containing approximately 77% nickel. Because it already exists in a metallic state, awaruite can be concentrated without smelting, roasting, or high-pressure acid leaching. Mineralogical and electron microprobe analysis at the Company’s RPM Zone has confirmed the awaruite averages 77.62% nickel and 1.69% cobalt, with grades as high as 86.68% nickel and 6.05% cobalt⁵.

Initial metallurgical test work using the Company’s ONSHORE MAX™ (Magnetic Alloy eXtraction) process upgraded rock samples from the project’s RPM Zone into a high-grade alloy concentrate averaging 67.4% nickel and grading up to 71.9% nickel and 1.76% cobalt⁶. Low-intensity magnetic separation first produced a magnetic concentrate grading approximately 1.6% nickel, which flotation then upgraded to the final concentrate. By comparison, a typical nickel concentrate grades 10% to 15% nickel, according to the Nickel Institute. This concentrate can move directly to downstream battery chemical refining or the manufacture of specialty alloys and stainless steel.

The absence of sulphur reduces acid mine drainage risk and related permitting challenges, positioning Pipestone XL to supply North American industries including stainless steel, electric vehicles, aerospace, and defence.

Figure 2: USGS quote on awaruite nickel-iron-cobalt alloy.⁷

The gross proceeds of the Offering will be used to incur eligible “Canadian exploration expenses” that qualify as “flow-through mining expenditures,” as those terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”), in connection with the exploration programs described above at the Company’s Pipestone XL Nickel-Cobalt Alloy Project and exploration activities at its Ophiolite X Project in Newfoundland. The Company will incur the Qualifying Expenditures on or before December 31, 2027 and renounce them in favour of subscribers effective December 31, 2026.

All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day, expiring on February 6, 2027, under applicable Canadian securities laws. The Offering remains subject to final acceptance by the Exchange.

No finder’s fees were paid in connection with the Offering.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws, and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.

INVESTOR INFORMATION

The Company’s common shares trade on the TSX Venture Exchange under the symbol “FAN”, on the OTCQB under the symbol “FANCF”, and on several German exchanges, including Frankfurt and Tradegate, under the symbol “P210”. Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at www.fanickel.com.

FOR MORE INFORMATION

First Atlantic Investor Relations, Robert Guzman. Tel: +1-844-592-6337 | Email: rob@fanickel.com

QUALIFIED PERSON

Adrian Smith, P.Geo., a director and the Chief Executive Officer of the Company, is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.

ABOUT FIRST ATLANTIC NICKEL & COBALT CORP.

First Atlantic Nickel & Cobalt Corp. (TSXV: FAN | OTCQB: FANCF | FSE: P210) is a critical mineral exploration company in Newfoundland and Labrador developing the Pipestone XL Nickel-Cobalt (Ni-Fe-Co) Alloy Project. The project spans the entire 30-kilometre Pipestone Ophiolite Complex, where multiple zones, including RPM, Alloy Max, Super Gulp, Atlantic Lake and Chrome Pond, contain awaruite (Ni₃Fe), a naturally occurring magnetic nickel-iron-cobalt alloy of approximately 77% nickel with no sulphur and no sulphides, along with secondary chromium mineralization. Awaruite’s sulphur-free composition removes acid mine drainage risk, while its magnetic properties enable processing through magnetic separation and flotation, eliminating the electricity requirements, emissions and environmental impacts of conventional smelting, roasting or high-pressure acid leaching, while reducing dependence on overseas nickel processing infrastructure.

The U.S. Geological Survey recognized awaruite’s strategic importance in its 2012 Annual Report on Nickel⁸, noting that these deposits may help alleviate prolonged nickel concentrate shortages since the natural alloy is much easier to concentrate than typical nickel sulphide. In 2026, initial metallurgical test work using the Company’s ONSHORE MAX™ (Magnetic Alloy eXtraction) process upgraded RPM Zone material into a high-grade alloy concentrate averaging 67.4% nickel and grading up to 71.9% nickel and 1.76% cobalt, demonstrating a smelter-free, mine-to-refinery pathway. First Atlantic is a member of the U.S. Defense Industrial Base Consortium. The Company is also advancing a parallel geologic hydrogen initiative at Pipestone XL, where the same serpentinization process that formed awaruite also generates natural hydrogen, and has signed a letter of intent with VEMA Hydrogen to jointly develop low-carbon Engineered Mineral Hydrogen (EMH) through a proposed 50/50 joint venture. The Pipestone XL project is located near existing infrastructure with year-round road access and proximity to hydroelectric power, providing favorable logistics for exploration and future development and strengthening First Atlantic’s role to establish a secure and reliable source of North American nickel and cobalt production for the stainless steel, electric vehicle, aerospace, and defense industries. This mission gained importance when the U.S. added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward looking statements

Certain information contained in this news release constitutes “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation (collectively, “forward-looking information”). Forward-looking information is often identified by words such as “anticipates,” “believes,” “expects,” “intends,” “plans,” “may,” “will,” “potential,” and similar expressions.

Forward-looking information in this news release includes statements regarding: final acceptance of the Offering by the Exchange; the intended use of proceeds, the qualification of expenditures as Canadian exploration expenses and flow-through mining expenditures, the incurrence of those expenditures by December 31, 2027 and their renunciation in favour of subscribers effective December 31, 2026; the scope, timing and anticipated results of exploration and metallurgical programs at the Pipestone XL Nickel-Cobalt Alloy Project and Ophiolite X Project, including district-scale drilling, the development of an exploration access road toward the historic Atlantic Lake Zone and exploration and bedrock stripping along its route; expansion and infill drilling at the Alloy Max and RPM Zones, drilling of previously untested targets and the identification of new drill targets; the Company’s aim to develop a multi-pit resource at the Pipestone XL Nickel-Cobalt Alloy Project; the potential capabilities, scalability and benefits of the ONSHORE MAX™ process; the potential to concentrate awaruite without smelting, roasting or high-pressure acid leaching; the suitability of concentrates for downstream refining and the manufacture of battery chemicals, specialty alloys and stainless steel; potential environmental and permitting benefits; and the potential for Pipestone XL to supply North American industrial markets.

This forward-looking information is based on management’s current expectations and assumptions, including that required regulatory approvals will be obtained; planned expenditures will satisfy applicable tax requirements and be incurred and renounced within the specified timelines; necessary permits, personnel, contractors, equipment and laboratory capacity will be available; exploration and metallurgical programs can be completed within anticipated budgets and schedules; the exploration access road can be developed along the planned route within anticipated budgets and schedules; further testing will support the applicability of initial metallurgical results to representative project material and larger-scale operations; any resulting concentrates will meet relevant downstream processing and customer specifications; and that further environmental studies will support the anticipated environmental benefits.

Forward-looking information is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These include failure to obtain regulatory approvals or complete additional financing; changes in market conditions, commodity prices, costs or the availability of financing; failure to incur sufficient qualifying expenditures within the required period, adverse tax determinations or changes in tax laws or their interpretation; exploration results that do not support anticipated mineralization or expansion targets; exploration results that do not support the delineation of mineral resources; permitting, access, cost or construction delays affecting development of the exploration access road; geological and metallurgical variability; the preliminary nature of test results and the risk that such results cannot be replicated at larger scale or achieved economically; concentrate impurities, recovery limitations or failure to meet downstream specifications; permitting delays, environmental liabilities and findings that differ from anticipated environmental benefits; operational, weather, equipment, contractor and laboratory delays; and other risks described in the Company’s continuous disclosure filings available on SEDAR+ at www.sedarplus.ca.

Initial metallurgical results do not establish commercial viability or guarantee future recoveries, concentrate quality or processing performance. There can be no assurance that the anticipated exploration, processing, environmental or commercial outcomes will be achieved.

Although management considers its expectations and assumptions reasonable as of the date of this news release, forward-looking information is not a guarantee of future performance. Readers are cautioned not to place undue reliance on it. Except as required by applicable securities laws, the Company undertakes no obligation to update forward-looking information to reflect subsequent events, circumstances or changes in expectations.

¹ https://fanickel.com/20260608-vema-hydrogen-and-first-atlantic-nickel-cobalt-sign-loi-to-develop-engineered-mineral-hydrogen-at-pipestone-xl-awaruite-project-in-newfoundland
² https://fanickel.com/20260115-first-atlantic-nickel-highlights-relevance-of-pipestone-xl-awaruite-nickel-cobalt-alloy-discovery-to-address-u-s–critical-mineral-supply-chain-vulnerabilities-identified-in-january-14-2026-white-house-proclamation
³ https://fanickel.com/20260331-first-atlantic-nickel-announces-acceptance-into-defense-industrial-base-consortium-dibc—pipestone-xl-smelter-free-nickel-cobalt-alloy-project-addresses-midstream-smelting-bottleneck-in-u-s–defense-supply-chain
⁴ https://fanickel.com/20260619-first-atlantic-nickel-cobalt-highlights-g7-leaders-declaration-on-critical-minerals-g7-names-nickel-one-of-only-two-pilot-minerals-for-a-new-allied-traceability-framework-moves-to-mobilize-equity-investment-and-offtake-and-establishes-a-critical-
⁵ https://fanickel.com/20260521-first-atlantic-nickel-cobalt-reports-electron-microprobe-analysis-returning-77-62-nickel-and-1-69-cobalt-in-awaruite-at-the-rpm-zone-pipestone-xl-project-a-rare-naturally-magnetic-ni-fe-co-high-grade-alloy-mineralogically-capable-of-bypassing-mid
⁶ https://fanickel.com/20260624-first-atlantic-nickel-cobalt-produces-high-grade-alloy-concentrate-up-to-71-9-nickel-and-1-76-cobalt-from-its-pipestone-xl-nickel-cobalt-alloy-project-using-its-first-ever-onshore-max-magnetic-alloy-extraction-recovery-concentration-process-unvei
⁷ https://d9-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/mineral-pubs/nickel/mcs-2012-nicke.pdf
⁸ https://d9-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/mineral-pubs/nickel/mcs-2012-nicke.pdf

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/448ace60-5570-46e8-a872-d671bdc932ad
https://www.globenewswire.com/NewsRoom/AttachmentNg/c98b10b1-2d62-453b-9af8-3491ba8675ae 

WALTHAM, Mass., Oct. 06, 2026 (GLOBE NEWSWIRE) — Zenas BioPharma, Inc. (“Zenas” or the “Company”) (Nasdaq: ZBIO), a clinical-stage global biopharmaceutical company committed to being a leader in the development and commercialization of transformative therapies for patients living with autoimmune and inflammatory diseases, today announced that it will host a virtual R&D event on Tuesday, October 27, 2026, from 8:00 – 9:30 a.m. ET.

The event will include presentations from Zenas’ management team on the overall R&D pipeline including obexelimab, our investigational bifunctional monoclonal antibody targeting CD19 and FcyRIIb, currently being evaluated in systemic lupus erythematosus, as well as the ongoing development of ZB021, Zenas’ oral IL-17AA/AF inhibitor. Dr. Joseph F. Merola, MD, MMSc, Dermatologist, Rheumatologist, President of the Rheumatologic Dermatology Society, Medical and Scientific Board of the Lupus Foundation of America, will provide key insights into the biology and clinical considerations.

Conference Call Information

To access the live webcast of the call, please visit the “Events and Presentations” page in the Investor & Media Relations section of the Zenas BioPharma website. A replay of the webcast will be available following the call.

About Zenas BioPharma, Inc.
Zenas is a clinical-stage global biopharmaceutical company focused on the development and commercialization of therapies for autoimmune diseases and inflammatory conditions. Zenas combines our experienced leadership team with a disciplined global product candidate acquisition approach to identify, acquire and develop product candidates with the potential to deliver clinically meaningful benefits to patients. Zenas is advancing two late-stage, potential franchise molecules, obexelimab and orelabrutinib. Obexelimab, Zenas’ lead product candidate, is a bifunctional monoclonal antibody designed to bind CD19 and FcγRIIb to inhibit the activity of B cells implicated in many autoimmune diseases without depleting them. Zenas believes that the unique mechanism of action of obexelimab and its self-administered, subcutaneous injection regimen may enable sustained control across multiple chronic autoimmune diseases. Orelabrutinib is a potentially best-in-class, highly selective CNS-penetrant, oral, small molecule BTK inhibitor. Orelabrutinib’s mechanism of action targets pathogenic B cells not only in the periphery but also within the CNS. Additionally, it directly modulates macrophages and microglial cells in the CNS, with the potential to address compartmentalized inflammation and disease progression in MS. Zenas’ earlier stage programs include ZB021, a novel, potentially best-in-class, oral, IL-17AA/AF inhibitor, ZB022, a preclinical, potentially best-in-class, oral, brain-penetrant, TYK2 inhibitor, and ZB014, a preclinical, half-life extended anti-CD19 and FcγRIIb monoclonal antibody. For more information about Zenas BioPharma, please visit https://zenasbio.com/ and follow us on LinkedIn.

Forward-Looking Statements
This press release contains “forward-looking statements.” In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations, and assumptions. All statements other than statements of historical facts contained in this press release are forward-looking statements. Forward looking statements include, but are not limited to, the anticipated timing or likelihood of regulatory submissions and approvals, and the outcome of interactions with regulatory authorities; the therapeutic potential of the Company’s product candidates; the Company’s expectations regarding the potential commercialization, estimated market size and market opportunities of its product candidates; and the timing of reporting the topline results of obexelimab in SLE. The forward-looking statements in this press release speak only as of the date of this press release and are subject to a number of known and unknown risks, uncertainties and assumptions that could cause the Company’s actual results, performance or achievements to differ materially from those anticipated in the forward-looking statements. These risks and uncertainties include, but are not limited to: the Company’s limited operating history, incurrence of substantial losses since the Company’s inception and anticipation of incurring substantial and increasing losses for the foreseeable future; the Company’s need for substantial additional financing to achieve the Company’s goals; the uncertainty of clinical development; potential competition, including from large and specialty pharmaceutical and biotechnology companies; the Company’s ability to realize the benefits of the Company’s current or future collaborations or licensing arrangements; the Company’s ability to obtain regulatory approval to commercialize its product candidates; risks related to the manufacturing of the Company’s product candidates and the risk that the Company’s third-party manufacturers may encounter difficulties in production; the Company’s ability to obtain and maintain sufficient intellectual property protection for the Company’s product candidates; the Company’s reliance on third parties to conduct the Company’s preclinical studies and clinical trials; the Company’s compliance with the its license obligations; significant political, trade, and regulatory developments, including changes in relations between the U.S. and China; risks related to the operations of the Company’s suppliers, many of which are located outside of the United States, including the Company’s current sole contract manufacturing organization for obexelimab drug substance and drug product, WuXi Biologics (Hong Kong) Limited, and our partner, InnoCare, both of which are located in China; the risk that the Company’s indebtedness could adversely affect the Company’s financial condition or restrict the Company’s future operations; and other risks and uncertainties described in the section “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as supplemented from time to time by our subsequent filings with the Securities and Exchange Commission (the “SEC”), as well as other information we file with the SEC. The forward-looking statements in this press release are based upon information available to the Company as of the date of this press release and while the Company believes such information forms a reasonable basis for such statements, such information may be limited or incomplete. Because forward-looking statements are inherently subject to risks and uncertainties, these forward-looking statements should not be relied upon as guarantees of future events. Moreover, the Company operates in an evolving environment. New risks and uncertainties may emerge from time to time, and management cannot predict all risks and uncertainties. Except as required by applicable law, the Company does not undertake to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

The Zenas BioPharma word mark, logo mark, and the “lightning bolt” design are trademarks of Zenas BioPharma, Inc. or its affiliated companies. All rights reserved.

Contacts:

Investors:
Argot Partners
Zenas@argotpartners.com

Media:
Kristin Ainsworth
SVP, U.S. Commercial Strategy & Corporate Affairs
612.839.6748

WALTHAM, Mass., Oct. 06, 2026 (GLOBE NEWSWIRE) — Zenas BioPharma, Inc. (“Zenas” or the “Company”) (Nasdaq: ZBIO), a clinical-stage global biopharmaceutical company committed to being a leader in the development and commercialization of transformative therapies for patients living with autoimmune and inflammatory diseases, today announced that it will host a virtual R&D event on Tuesday, October 27, 2026, from 8:00 – 9:30 a.m. ET.

The event will include presentations from Zenas’ management team on the overall R&D pipeline including obexelimab, our investigational bifunctional monoclonal antibody targeting CD19 and FcyRIIb, currently being evaluated in systemic lupus erythematosus, as well as the ongoing development of ZB021, Zenas’ oral IL-17AA/AF inhibitor. Dr. Joseph F. Merola, MD, MMSc, Dermatologist, Rheumatologist, President of the Rheumatologic Dermatology Society, Medical and Scientific Board of the Lupus Foundation of America, will provide key insights into the biology and clinical considerations.

Conference Call Information

To access the live webcast of the call, please visit the “Events and Presentations” page in the Investor & Media Relations section of the Zenas BioPharma website. A replay of the webcast will be available following the call.

About Zenas BioPharma, Inc.
Zenas is a clinical-stage global biopharmaceutical company focused on the development and commercialization of therapies for autoimmune diseases and inflammatory conditions. Zenas combines our experienced leadership team with a disciplined global product candidate acquisition approach to identify, acquire and develop product candidates with the potential to deliver clinically meaningful benefits to patients. Zenas is advancing two late-stage, potential franchise molecules, obexelimab and orelabrutinib. Obexelimab, Zenas’ lead product candidate, is a bifunctional monoclonal antibody designed to bind CD19 and FcγRIIb to inhibit the activity of B cells implicated in many autoimmune diseases without depleting them. Zenas believes that the unique mechanism of action of obexelimab and its self-administered, subcutaneous injection regimen may enable sustained control across multiple chronic autoimmune diseases. Orelabrutinib is a potentially best-in-class, highly selective CNS-penetrant, oral, small molecule BTK inhibitor. Orelabrutinib’s mechanism of action targets pathogenic B cells not only in the periphery but also within the CNS. Additionally, it directly modulates macrophages and microglial cells in the CNS, with the potential to address compartmentalized inflammation and disease progression in MS. Zenas’ earlier stage programs include ZB021, a novel, potentially best-in-class, oral, IL-17AA/AF inhibitor, ZB022, a preclinical, potentially best-in-class, oral, brain-penetrant, TYK2 inhibitor, and ZB014, a preclinical, half-life extended anti-CD19 and FcγRIIb monoclonal antibody. For more information about Zenas BioPharma, please visit https://zenasbio.com/ and follow us on LinkedIn.

Forward-Looking Statements
This press release contains “forward-looking statements.” In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations, and assumptions. All statements other than statements of historical facts contained in this press release are forward-looking statements. Forward looking statements include, but are not limited to, the anticipated timing or likelihood of regulatory submissions and approvals, and the outcome of interactions with regulatory authorities; the therapeutic potential of the Company’s product candidates; the Company’s expectations regarding the potential commercialization, estimated market size and market opportunities of its product candidates; and the timing of reporting the topline results of obexelimab in SLE. The forward-looking statements in this press release speak only as of the date of this press release and are subject to a number of known and unknown risks, uncertainties and assumptions that could cause the Company’s actual results, performance or achievements to differ materially from those anticipated in the forward-looking statements. These risks and uncertainties include, but are not limited to: the Company’s limited operating history, incurrence of substantial losses since the Company’s inception and anticipation of incurring substantial and increasing losses for the foreseeable future; the Company’s need for substantial additional financing to achieve the Company’s goals; the uncertainty of clinical development; potential competition, including from large and specialty pharmaceutical and biotechnology companies; the Company’s ability to realize the benefits of the Company’s current or future collaborations or licensing arrangements; the Company’s ability to obtain regulatory approval to commercialize its product candidates; risks related to the manufacturing of the Company’s product candidates and the risk that the Company’s third-party manufacturers may encounter difficulties in production; the Company’s ability to obtain and maintain sufficient intellectual property protection for the Company’s product candidates; the Company’s reliance on third parties to conduct the Company’s preclinical studies and clinical trials; the Company’s compliance with the its license obligations; significant political, trade, and regulatory developments, including changes in relations between the U.S. and China; risks related to the operations of the Company’s suppliers, many of which are located outside of the United States, including the Company’s current sole contract manufacturing organization for obexelimab drug substance and drug product, WuXi Biologics (Hong Kong) Limited, and our partner, InnoCare, both of which are located in China; the risk that the Company’s indebtedness could adversely affect the Company’s financial condition or restrict the Company’s future operations; and other risks and uncertainties described in the section “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as supplemented from time to time by our subsequent filings with the Securities and Exchange Commission (the “SEC”), as well as other information we file with the SEC. The forward-looking statements in this press release are based upon information available to the Company as of the date of this press release and while the Company believes such information forms a reasonable basis for such statements, such information may be limited or incomplete. Because forward-looking statements are inherently subject to risks and uncertainties, these forward-looking statements should not be relied upon as guarantees of future events. Moreover, the Company operates in an evolving environment. New risks and uncertainties may emerge from time to time, and management cannot predict all risks and uncertainties. Except as required by applicable law, the Company does not undertake to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

The Zenas BioPharma word mark, logo mark, and the “lightning bolt” design are trademarks of Zenas BioPharma, Inc. or its affiliated companies. All rights reserved.

Contacts:

Investors:
Argot Partners
Zenas@argotpartners.com

Media:
Kristin Ainsworth
SVP, U.S. Commercial Strategy & Corporate Affairs
612.839.6748

Former senior Biogen and Roche executive brings deep experience across Alzheimer’s clinical development, launch readiness, commercialization and global medical strategy

Appointment strengthens commercial and development leadership as PMN310 advances toward 12-month topline data expected in Q1 2027

CAMBRIDGE, Mass.,, Oct. 06, 2026 (GLOBE NEWSWIRE) — ProMIS Neurosciences Inc. (Nasdaq: PMN) (“ProMIS” or the “Company”), a clinical-stage biotechnology company developing therapeutics targeting toxic misfolded proteins in neurodegenerative diseases, including Alzheimer’s disease, today announced the appointment of Ivana Rubino, Ph.D., as Chief Commercial Officer, effective October 5, 2026.

Dr. Rubino brings more than 15 years of global biopharmaceutical leadership experience, with deep expertise in neuroscience and particularly in Alzheimer’s disease, spanning clinical development strategy, medical affairs, launch readiness, market development and commercialization. During her time at Biogen and F. Hoffmann-La Roche, Dr. Rubino led and helped shape Alzheimer’s disease programs across late-stage development, scientific and medical strategy, market preparation and commercialization planning. Her experience includes global leadership supporting the LEQEMBI® franchise, preparation for next-generation Alzheimer’s therapies, and the build-out of large global medical organizations across the United States, Europe and other major markets. She also held senior global leadership roles across multiple sclerosis, spinal muscular atrophy and neuropsychiatry.

“Ivana joins ProMIS at an important point in the evolution of PMN310 and our Alzheimer’s program,” said Neil Warma, President and Chief Executive Officer of ProMIS Neurosciences. “She brings a rare combination of scientific depth and experience advancing major Alzheimer’s programs through launch readiness and commercialization at Biogen and Roche. Ivana’s broad neuroscience and strategic experience will help us build the capabilities needed for ProMIS’ next stage of growth, and her extensive background in Alzheimer’s disease will be particularly valuable as we move toward our 12-month PRECISE-AD topline readout of PMN310 in the first quarter of 2027.”

As Chief Commercial Officer, Dr. Rubino will lead ProMIS’ commercial and market preparation strategy for PMN310, including market access and payer planning, patient and physician pathway development, key opinion leader and advocacy engagement, launch readiness and lifecycle strategy. She will also work closely with the Chief Medical Officer on pivotal development strategy and evidence generation, and will contribute to regulatory strategy, business development and the positioning of ProMIS’ broader neuroscience pipeline.

“Neuroscience has been at the center of my career, and I have had the privilege of working across several areas in which major scientific advances have transformed what is possible for patients,” said Dr. Rubino. “Alzheimer’s disease is perhaps one of the clearest examples: although we have made significant progress, meaningful scientific, clinical and access challenges remain. What attracted me to ProMIS was both the differentiated science behind PMN310 and the broader potential of the company’s approach to targeting toxic misfolded proteins. If the clinical data in the ongoing Alzheimer’s trial continue to be supportive, PMN310 could represent an important next step in Alzheimer’s treatment. I am excited to help translate the science into development and commercial strategies that can ultimately create meaningful value for patients, families and the neuroscience community.”

Dr. Rubino joins ProMIS from Biogen, where she most recently served as Vice President and Global Head, Alzheimer’s Disease & Multiple Sclerosis Medical, leading global medical strategy, launch readiness and lifecycle optimization, serving as alliance medical strategy leader with Eisai, and supporting the global development and expansion of LEQEMBI, including 52 market approvals.

Previously at Biogen, Dr. Rubino held senior global leadership roles across Alzheimer’s disease, neuropsychiatry and neuromuscular disease. She built and scaled a global Alzheimer’s disease medical organization of more than 100 professionals, and served as Executive Director, Global Head of Medical – Alzheimer’s Disease & Neuromuscular Disease.

Prior to Biogen, Dr. Rubino held a series of increasingly senior medical affairs, commercial and regulatory roles at F. Hoffmann-La Roche AG in Basel, Switzerland, across Alzheimer’s disease, spinal muscular atrophy, multiple sclerosis and neuropsychiatry.

Dr. Rubino holds a Ph.D. in Immunology and Molecular Biology from the University of Lausanne, an M.Sc. in Cellular and Molecular Biology from the University of Milan, and an M.Sc. in Genetics from the University of Paris VII.

Inducement Grant

In connection with Dr. Rubino’s appointment, effective October 5, 2026, ProMIS granted Dr. Rubino an inducement award of a non-qualified stock option to purchase 80,000 of the Company’s common shares in accordance with Nasdaq Listing Rule 5635(c)(4). The inducement award has an exercise price of $9.37 per share, which is equal to the closing price of the Company’s common shares as reported by Nasdaq on October 5, 2026. The option has a 10-year term; 25% of the underlying shares vested on Dr. Rubino’s hire date and the remainder vest in equal monthly installments over the subsequent 36 months, subject to continued service. The option is subject to the terms of the Company’s 2026 Inducement Plan and the applicable stock option agreement.

About PMN310
PMN310 is ProMIS’ lead investigational antibody for Alzheimer’s disease. It is a humanized monoclonal antibody designed to selectively recognize toxic amyloid-beta oligomers while avoiding monomers and amyloid plaque. ProMIS is evaluating PMN310 in the PRECISE-AD Phase 1b clinical study in patients with mild cognitive impairment due to Alzheimer’s disease or mild Alzheimer’s disease, with unblinded 12-month topline results expected in the first quarter of 2027. The Company is also advancing development of a subcutaneous formulation intended to support greater convenience and flexibility in future treatment.

About ProMIS Neurosciences Inc.
ProMIS Neurosciences Inc. is a clinical-stage biotechnology company developing therapeutic antibodies and vaccines targeting toxic misfolded proteins implicated in neurodegenerative diseases. Its proprietary discovery platform is designed to identify disease-specific epitopes on misfolded proteins and has generated programs in Alzheimer’s disease and other neurodegenerative disorders.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws, including statements regarding the timing and results of clinical trials; the potential therapeutic, safety, access and commercial profile of PMN310; the expected timing and nature of topline clinical data of PMN310; development of a subcutaneous formulation; future clinical, regulatory and commercialization plans; and the expected contributions of Dr. Rubino. These statements reflect current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including risks described in ProMIS’ filings with the U.S. Securities and Exchange Commission. ProMIS undertakes no obligation to update forward-looking statements except as required by law.

Contacts
Investor Relations
ProMIS Neurosciences Inc.
IR@promisneurosciences.com

Former senior Biogen and Roche executive brings deep experience across Alzheimer’s clinical development, launch readiness, commercialization and global medical strategy

Appointment strengthens commercial and development leadership as PMN310 advances toward 12-month topline data expected in Q1 2027

CAMBRIDGE, Mass.,, Oct. 06, 2026 (GLOBE NEWSWIRE) — ProMIS Neurosciences Inc. (Nasdaq: PMN) (“ProMIS” or the “Company”), a clinical-stage biotechnology company developing therapeutics targeting toxic misfolded proteins in neurodegenerative diseases, including Alzheimer’s disease, today announced the appointment of Ivana Rubino, Ph.D., as Chief Commercial Officer, effective October 5, 2026.

Dr. Rubino brings more than 15 years of global biopharmaceutical leadership experience, with deep expertise in neuroscience and particularly in Alzheimer’s disease, spanning clinical development strategy, medical affairs, launch readiness, market development and commercialization. During her time at Biogen and F. Hoffmann-La Roche, Dr. Rubino led and helped shape Alzheimer’s disease programs across late-stage development, scientific and medical strategy, market preparation and commercialization planning. Her experience includes global leadership supporting the LEQEMBI® franchise, preparation for next-generation Alzheimer’s therapies, and the build-out of large global medical organizations across the United States, Europe and other major markets. She also held senior global leadership roles across multiple sclerosis, spinal muscular atrophy and neuropsychiatry.

“Ivana joins ProMIS at an important point in the evolution of PMN310 and our Alzheimer’s program,” said Neil Warma, President and Chief Executive Officer of ProMIS Neurosciences. “She brings a rare combination of scientific depth and experience advancing major Alzheimer’s programs through launch readiness and commercialization at Biogen and Roche. Ivana’s broad neuroscience and strategic experience will help us build the capabilities needed for ProMIS’ next stage of growth, and her extensive background in Alzheimer’s disease will be particularly valuable as we move toward our 12-month PRECISE-AD topline readout of PMN310 in the first quarter of 2027.”

As Chief Commercial Officer, Dr. Rubino will lead ProMIS’ commercial and market preparation strategy for PMN310, including market access and payer planning, patient and physician pathway development, key opinion leader and advocacy engagement, launch readiness and lifecycle strategy. She will also work closely with the Chief Medical Officer on pivotal development strategy and evidence generation, and will contribute to regulatory strategy, business development and the positioning of ProMIS’ broader neuroscience pipeline.

“Neuroscience has been at the center of my career, and I have had the privilege of working across several areas in which major scientific advances have transformed what is possible for patients,” said Dr. Rubino. “Alzheimer’s disease is perhaps one of the clearest examples: although we have made significant progress, meaningful scientific, clinical and access challenges remain. What attracted me to ProMIS was both the differentiated science behind PMN310 and the broader potential of the company’s approach to targeting toxic misfolded proteins. If the clinical data in the ongoing Alzheimer’s trial continue to be supportive, PMN310 could represent an important next step in Alzheimer’s treatment. I am excited to help translate the science into development and commercial strategies that can ultimately create meaningful value for patients, families and the neuroscience community.”

Dr. Rubino joins ProMIS from Biogen, where she most recently served as Vice President and Global Head, Alzheimer’s Disease & Multiple Sclerosis Medical, leading global medical strategy, launch readiness and lifecycle optimization, serving as alliance medical strategy leader with Eisai, and supporting the global development and expansion of LEQEMBI, including 52 market approvals.

Previously at Biogen, Dr. Rubino held senior global leadership roles across Alzheimer’s disease, neuropsychiatry and neuromuscular disease. She built and scaled a global Alzheimer’s disease medical organization of more than 100 professionals, and served as Executive Director, Global Head of Medical – Alzheimer’s Disease & Neuromuscular Disease.

Prior to Biogen, Dr. Rubino held a series of increasingly senior medical affairs, commercial and regulatory roles at F. Hoffmann-La Roche AG in Basel, Switzerland, across Alzheimer’s disease, spinal muscular atrophy, multiple sclerosis and neuropsychiatry.

Dr. Rubino holds a Ph.D. in Immunology and Molecular Biology from the University of Lausanne, an M.Sc. in Cellular and Molecular Biology from the University of Milan, and an M.Sc. in Genetics from the University of Paris VII.

Inducement Grant

In connection with Dr. Rubino’s appointment, effective October 5, 2026, ProMIS granted Dr. Rubino an inducement award of a non-qualified stock option to purchase 80,000 of the Company’s common shares in accordance with Nasdaq Listing Rule 5635(c)(4). The inducement award has an exercise price of $9.37 per share, which is equal to the closing price of the Company’s common shares as reported by Nasdaq on October 5, 2026. The option has a 10-year term; 25% of the underlying shares vested on Dr. Rubino’s hire date and the remainder vest in equal monthly installments over the subsequent 36 months, subject to continued service. The option is subject to the terms of the Company’s 2026 Inducement Plan and the applicable stock option agreement.

About PMN310
PMN310 is ProMIS’ lead investigational antibody for Alzheimer’s disease. It is a humanized monoclonal antibody designed to selectively recognize toxic amyloid-beta oligomers while avoiding monomers and amyloid plaque. ProMIS is evaluating PMN310 in the PRECISE-AD Phase 1b clinical study in patients with mild cognitive impairment due to Alzheimer’s disease or mild Alzheimer’s disease, with unblinded 12-month topline results expected in the first quarter of 2027. The Company is also advancing development of a subcutaneous formulation intended to support greater convenience and flexibility in future treatment.

About ProMIS Neurosciences Inc.
ProMIS Neurosciences Inc. is a clinical-stage biotechnology company developing therapeutic antibodies and vaccines targeting toxic misfolded proteins implicated in neurodegenerative diseases. Its proprietary discovery platform is designed to identify disease-specific epitopes on misfolded proteins and has generated programs in Alzheimer’s disease and other neurodegenerative disorders.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws, including statements regarding the timing and results of clinical trials; the potential therapeutic, safety, access and commercial profile of PMN310; the expected timing and nature of topline clinical data of PMN310; development of a subcutaneous formulation; future clinical, regulatory and commercialization plans; and the expected contributions of Dr. Rubino. These statements reflect current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including risks described in ProMIS’ filings with the U.S. Securities and Exchange Commission. ProMIS undertakes no obligation to update forward-looking statements except as required by law.

Contacts
Investor Relations
ProMIS Neurosciences Inc.
IR@promisneurosciences.com

• European Affiliate, based in Amsterdam, to support upcoming marketing authorization submissions, OCU410 Phase 3 development program, and potential commercialization in Europe

MALVERN, Pa., Oct. 06, 2026 (GLOBE NEWSWIRE) — Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN), a biotechnology company focused on developing and commercializing novel gene therapies to address blindness diseases, today announced the appointment of Jolanda Crombach, MSc PharmD, as General Manager of the Company’s European affiliate. Ms. Crombach, an accomplished pharmaceutical executive with more than 20 years of industry experience, will lead the Company’s newly established European affiliate, headquartered in Amsterdam, Netherlands.

“As we advance our three Phase 3 modifier gene therapy programs toward regulatory submissions and potential commercialization, establishing a strong presence in Europe is an important component of our growth strategy,” said Shankar Musunuri, PhD, MBA, Chairman, Chief Executive Officer and Co-founder of Ocugen. “Jolanda is ideally suited to lead this important expansion. Her extensive pharmaceutical leadership experience, deep understanding of the European healthcare environment and track record of building organizations will be invaluable as we develop our European operations and prepare to potentially bring transformative, one-time treatment gene therapies to patients.”

Under Ms. Crombach’s leadership, the European affiliate will build the team and infrastructure to support Ocugen’s three late-stage modifier gene therapy programs addressing major blindness diseases, including OCU400 for retinitis pigmentosa, OCU410 for GA secondary to dry age-related macular degeneration, and OCU410ST for Stargardt disease. All three development programs are in Phase 3, with key data readouts expected in 2027 and 2028, followed by global regulatory submissions, including Marketing Authorization Application submissions in Europe.

Ms. Crombach brings a proven track record of building and leading organizations across the European life sciences sector. Most recently, she served as Managing Director and Board Member of Moderna Netherlands, where she built the company’s Netherlands affiliate from the ground up and subsequently led its operations. Prior to Moderna, she held leadership roles spanning commercial, market access, medical, corporate and public affairs at MSD (Merck) and Pfizer. She began her career as a pharmacist and holds a MSc PharmD degree from Utrecht University in the Netherlands.

“I am excited to join Ocugen and contribute to the Company’s mission of developing innovative gene therapies for people living with blindness diseases,” said Jolanda Crombach, General Manager of European Affiliate, Ocugen. “Ocugen has built an innovative pipeline addressing significant unmet needs in ophthalmology, and I look forward to working with the team to establish a strong European organization and help expand access to these potentially transformative gene therapies for patients across Europe.”

About Ocugen, Inc.
Ocugen, Inc. is a pioneering biotechnology company developing gene therapies for blindness diseases. The Company’s breakthrough modifier gene therapy platform has the potential to address significant unmet medical needs across large patient populations through a gene-agnostic approach. Unlike traditional gene therapies and gene-editing technologies that target a single gene mutation, Ocugen’s modifier gene therapies are designed to address the underlying disease biology by restoring balance across multiple gene networks. The Company is currently advancing programs for inherited retinal diseases and other causes of blindness that affect millions worldwide, including retinitis pigmentosa, Stargardt disease, and geographic atrophy, an advanced form of dry age-related macular degeneration. Discover more at www.ocugen.com and follow us on LinkedIn and X.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding strategy, business plans and objectives for Ocugen’s clinical programs, plans and timelines for the preclinical and clinical development of Ocugen’s product candidates, including the therapeutic potential, clinical benefits and safety thereof, expectations regarding timing, success and data announcements of current ongoing preclinical and clinical trials, including the timing of enrollment and data readouts, the ability to initiate new clinical programs, statements regarding qualitative assessments of available data, potential benefits, expectations for ongoing clinical trials, anticipated regulatory filings and anticipated development timelines, statements regarding potential market size and commercial possibilities of Ocugen’s product candidates, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations, including, but not limited to, the risks that preliminary, interim and top-line clinical trial results may not be indicative of, and may differ from, final clinical data; that unfavorable new clinical trial data may emerge in ongoing clinical trials or through further analyses of existing clinical trial data; that earlier non-clinical and clinical data and testing may not be predictive of the results or success of later clinical trials; and that clinical trial data are subject to differing interpretations and assessments, including by regulatory authorities. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Contacts:

Investors:
Candice Masse
astr partners
candice.masse@astrpartners.com

Media:
Chris Clark
chris.clark@ocugen.com

• European Affiliate, based in Amsterdam, to support upcoming marketing authorization submissions, OCU410 Phase 3 development program, and potential commercialization in Europe

MALVERN, Pa., Oct. 06, 2026 (GLOBE NEWSWIRE) — Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN), a biotechnology company focused on developing and commercializing novel gene therapies to address blindness diseases, today announced the appointment of Jolanda Crombach, MSc PharmD, as General Manager of the Company’s European affiliate. Ms. Crombach, an accomplished pharmaceutical executive with more than 20 years of industry experience, will lead the Company’s newly established European affiliate, headquartered in Amsterdam, Netherlands.

“As we advance our three Phase 3 modifier gene therapy programs toward regulatory submissions and potential commercialization, establishing a strong presence in Europe is an important component of our growth strategy,” said Shankar Musunuri, PhD, MBA, Chairman, Chief Executive Officer and Co-founder of Ocugen. “Jolanda is ideally suited to lead this important expansion. Her extensive pharmaceutical leadership experience, deep understanding of the European healthcare environment and track record of building organizations will be invaluable as we develop our European operations and prepare to potentially bring transformative, one-time treatment gene therapies to patients.”

Under Ms. Crombach’s leadership, the European affiliate will build the team and infrastructure to support Ocugen’s three late-stage modifier gene therapy programs addressing major blindness diseases, including OCU400 for retinitis pigmentosa, OCU410 for GA secondary to dry age-related macular degeneration, and OCU410ST for Stargardt disease. All three development programs are in Phase 3, with key data readouts expected in 2027 and 2028, followed by global regulatory submissions, including Marketing Authorization Application submissions in Europe.

Ms. Crombach brings a proven track record of building and leading organizations across the European life sciences sector. Most recently, she served as Managing Director and Board Member of Moderna Netherlands, where she built the company’s Netherlands affiliate from the ground up and subsequently led its operations. Prior to Moderna, she held leadership roles spanning commercial, market access, medical, corporate and public affairs at MSD (Merck) and Pfizer. She began her career as a pharmacist and holds a MSc PharmD degree from Utrecht University in the Netherlands.

“I am excited to join Ocugen and contribute to the Company’s mission of developing innovative gene therapies for people living with blindness diseases,” said Jolanda Crombach, General Manager of European Affiliate, Ocugen. “Ocugen has built an innovative pipeline addressing significant unmet needs in ophthalmology, and I look forward to working with the team to establish a strong European organization and help expand access to these potentially transformative gene therapies for patients across Europe.”

About Ocugen, Inc.
Ocugen, Inc. is a pioneering biotechnology company developing gene therapies for blindness diseases. The Company’s breakthrough modifier gene therapy platform has the potential to address significant unmet medical needs across large patient populations through a gene-agnostic approach. Unlike traditional gene therapies and gene-editing technologies that target a single gene mutation, Ocugen’s modifier gene therapies are designed to address the underlying disease biology by restoring balance across multiple gene networks. The Company is currently advancing programs for inherited retinal diseases and other causes of blindness that affect millions worldwide, including retinitis pigmentosa, Stargardt disease, and geographic atrophy, an advanced form of dry age-related macular degeneration. Discover more at www.ocugen.com and follow us on LinkedIn and X.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding strategy, business plans and objectives for Ocugen’s clinical programs, plans and timelines for the preclinical and clinical development of Ocugen’s product candidates, including the therapeutic potential, clinical benefits and safety thereof, expectations regarding timing, success and data announcements of current ongoing preclinical and clinical trials, including the timing of enrollment and data readouts, the ability to initiate new clinical programs, statements regarding qualitative assessments of available data, potential benefits, expectations for ongoing clinical trials, anticipated regulatory filings and anticipated development timelines, statements regarding potential market size and commercial possibilities of Ocugen’s product candidates, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations, including, but not limited to, the risks that preliminary, interim and top-line clinical trial results may not be indicative of, and may differ from, final clinical data; that unfavorable new clinical trial data may emerge in ongoing clinical trials or through further analyses of existing clinical trial data; that earlier non-clinical and clinical data and testing may not be predictive of the results or success of later clinical trials; and that clinical trial data are subject to differing interpretations and assessments, including by regulatory authorities. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Contacts:

Investors:
Candice Masse
astr partners
candice.masse@astrpartners.com

Media:
Chris Clark
chris.clark@ocugen.com