GlobeNewswire – Page 341

Oruka Therapeutics to Participate in Multiple Upcoming Conferences

Posted on November 3, 2026 by Ravi Shankar

MENLO PARK, Calif., Nov. 03, 2026 (GLOBE NEWSWIRE) — Oruka Therapeutics, Inc. (“Oruka”) (Nasdaq: ORKA), a clinical-stage biotechnology company developing novel biologics designed to set a new standard for the treatment of chronic skin diseases including plaque psoriasis and hidradenitis suppurativa, today announced its participation and presentation at multiple upcoming conferences:

Guggenheim 3^rd Annual Healthcare Innovation Conference
Date: November 10, 2026
Presentation Time: 11:00 AM EST

Stifel 2026 Healthcare Conference
Date: November 11, 2026
Presentation Time: 4:00 PM EST

UBS Global Biopharma Conference
Date: November 17, 2026
Presentation Time: 4:00 PM GMT

Jefferies Global Healthcare Conference
Date: November 18, 2026
Presentation Time: 4:30 PM GMT

Webcasts and replays of Oruka’s presentations will be available on the Oruka investor events website at https://ir.orukatx.com/news-events/events-presentations.

About Oruka Therapeutics
Oruka Therapeutics is developing novel biologics designed to set a new standard for the treatment of chronic skin diseases. Oruka’s mission is to offer patients suffering from inflammatory diseases like plaque psoriasis and hidradenitis suppurativa the greatest possible freedom from their condition by achieving high rates of disease clearance with dosing as infrequently as once or twice a year. For more information, visit www.orukatx.com and follow Oruka on LinkedIn.

Investor Contact:
Alan Lada
(650)-606-7911
alan.lada@orukatx.com

Posted in UncategorizedTagged GlobeNewswire

Sotera Health Reports Solid Third-Quarter and Year-to-Date 2026 Results

Posted on November 3, 2026 by Ravi Shankar

Q3 2026 net revenues increased 4.4% on both an as-reported and constant currency basis⁽¹⁾, compared to Q3 2025
Q3 2026 net income of $58 million or $0.20 per diluted share
Q3 2026 Adjusted EBITDA⁽¹⁾ increased 3.9%, or 4.0% on a constant currency basis
Q3 2026 Adjusted EPS⁽¹⁾ of $0.29, an increase of 12% per diluted share
Reaffirming full-year 2026 net revenues growth outlook of 5.25% – 6.75% and Adjusted EBITDA growth outlook of 5.75% – 7.25%, both on a constant currency basis

CLEVELAND, Nov. 03, 2026 (GLOBE NEWSWIRE) — Sotera Health Company (“Sotera Health” or the “Company”) (Nasdaq: SHC), a leading global provider of mission-critical end-to-end sterilization solutions, lab testing and advisory services for the healthcare industry, today announced financial results for the three- and nine-months ended September 30, 2026.

“We are pleased with our third-quarter performance, which included solid top- and bottom-line constant currency growth, along with nearly 100 basis points of sequential Adjusted EBITDA margin expansion,” said Alton Shader, Chief Executive Officer. “Our performance was supported by year-over-year constant currency revenue growth of 8.2% at Sterigenics and 9.2% growth at Nelson Labs. We remain focused on being a trusted partner to our customers, combining exceptional service with the quality, reliability and technical expertise needed to support critical healthcare products and the patients who depend on them.”

Shader continued, “Based on our year-to-date performance and expectations for the remainder of the year, we are reaffirming our 2026 constant currency revenue and Adjusted EBITDA outlook.”

Third-Quarter 2026 Highlights
(All comparisons are against third quarter of 2025, unless otherwise noted)

Delivered solid top- and bottom-line constant currency growth
Sequential Adjusted EBITDA margin⁽¹⁾ improved nearly 100 basis points to 52.5%
Sterigenics: 8.2% constant currency revenue growth; segment income margin improved 57 basis points
Nelson Labs: 9.2% constant currency revenue growth
Nordion: constant currency revenue down 11.5% due to expected Cobalt-60 (“Co-60”) harvest timing; segment income margins improved 71 basis points
Net cash provided by operating activities of $111 million
Continued deleveraging progress resulted in a Net Leverage Ratio⁽¹⁾ of 2.9x as of September 30, 2026, within the Company’s long-term goal of 2.0x to 3.0x
Achieved a credit rating upgrade from Moody’s Ratings in early October, reflecting continued progress in strengthening the Company’s balance sheet and reducing leverage
New Nelson Labs Annex-1 compliant cleanroom completed during the quarter

_{⁽¹⁾ This is a non-GAAP financial measure used throughout this press release; please refer to the section “Non-GAAP Financial Measures” for explanations of our non-GAAP financial measures and the schedules provided later in this release for reconciliations of reported GAAP to non-GAAP financial measures.¹}

Third-Quarter and Year-to-Date 2026 Highlights by Business Segment
(All comparisons are against the third quarter of 2025, unless otherwise noted)

Sterigenics

Sterigenics delivered strong third-quarter 2026 results, with net revenues up 8.5% to $209 million, or 8.2% on a constant currency basis. Segment income improved to $117 million, an increase of 9.6%. For the first nine months of 2026, Sterigenics net revenues increased 8.9% to $607 million, or 7.2% on a constant currency basis, compared to the same period in 2025. Segment income increased 9.6% to $332 million.

Net revenues growth for the third quarter was driven by pricing, improved volume and mix, and a foreign currency benefit. Segment income and segment income margin also benefited from these factors, partially offset by inflation.

Nordion

Nordion net revenues were $55 million for the third-quarter 2026, a decrease of 12.4%, or 11.5% on a constant currency basis, due to the expected year-over-year impact of Co-60 harvest schedules. Correspondingly, segment income decreased 11.4% to $34 million. For the first nine months of 2026, Nordion net revenues increased 6.1% to $146 million, or 6.2% on a constant currency basis, compared to the same period in 2025. Segment income increased 8.2% to $85 million.

The change in third-quarter net revenues and segment income for the quarter was driven by unfavorable volume and mix due to the expected timing of Co-60 harvest schedules and foreign exchange, partially offset by favorable pricing. Segment income margin improved, driven by operational productivity and favorable pricing, partially offset by inflation.

Nelson Labs

Nelson Labs delivered strong third-quarter 2026 net revenues growth of 8.8% to $61 million, or 9.2% on a constant currency basis. Nelson Labs third-quarter 2026 segment income increased 2.5% to $19 million. For the first nine months of 2026, Nelson Labs net revenues increased 4.9% to $173 million, or 3.7% on a constant currency basis, compared to the same period in 2025. Segment income decreased 2.4% to $54 million.

Net revenues and segment income growth for the third quarter were driven by favorable volume and mix as well as pricing, partially offset by foreign exchange. Segment income margin was impacted primarily by business mix.

Balance Sheet and Liquidity

As of September 30, 2026, Sotera Health had $2.2 billion of total debt and $412 million in unrestricted cash and cash equivalents, compared to $2.2 billion in total debt and $345 million of unrestricted cash and cash equivalents as of December 31, 2025. Sotera Health’s Net Leverage Ratio as of third-quarter 2026 improved to 2.9x, compared to 3.2x as of December 31, 2025.

Full-Year 2026 Outlook

Net revenues in the range of $1.233 billion to $1.250 billion, representing constant currency growth of 5.25% to 6.75%.
Adjusted EBITDA in the range of $632 million to $641 million, representing constant currency growth of 5.75% to 7.25%.
Full-year Adjusted EBITDA margins approximately flat versus 2025.
The foreign currency benefit to net revenues and Adjusted EBITDA has been revised to 70 basis points from 100 basis points in our previous outlook.
Interest expense narrowed to a range of $137 million to $140 million.
Tax rate applicable to Adjusted Net Income⁽²⁾ remains in the range of 27.0% to 28.0%.
Adjusted EPS range remains in the range of $0.95 to $1.01.
A weighted-average fully diluted share count remains in the range of 289 million to 291 million shares.
Capital expenditures remain in the range of $200 million to $225 million.

The Company does not provide a reconciliation for non-GAAP financial measures on a forward-looking basis where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items without unreasonable effort. The Company cannot reconcile its expected Adjusted EBITDA, Tax Rate Applicable to Adjusted Net Income, Adjusted Net Income and Adjusted EPS without unreasonable effort because certain items that impact net income, earnings per share and other reconciling metrics are out of the Company’s control and/or cannot be reasonably predicted at this time, including uncertainties caused by changes to the regulatory landscape, restructuring items and certain fair value measurements, all of which are potential adjustments for future earnings.

The outlook provided above contains a number of assumptions, including, among others, the Company’s current expectations regarding supply chain continuity, particularly for the supply of ethylene oxide (“EO”) and Co-60, and the impact of inflationary trends, including their impact on energy prices and the supply of labor. Our outlook is based on current plans and expectations and is subject to several known and unknown risks and uncertainties, including those set forth below under “Cautionary Note Regarding Forward-Looking Statements.”

Earnings Webcast

Sotera Health management will host a conference call and live webcast to discuss the Company’s operating highlights and financial results at 9:00 a.m. Eastern Daylight Time today. A live webcast of the conference call will be accessible at this link or via the Investor Relations section of the Company’s website at Presentation & Events | Sotera Health, along with accompanying materials. A replay of the webcast will be archived on the Company’s website.

Upcoming Events

Jefferies London Healthcare Conference at 12:00 p.m. Greenwich Mean Time, November 18, 2026
Piper Sandler 36th Annual Healthcare Conference at 11:00 a.m. Eastern Time, December 2, 2026

Cautionary Note Regarding Forward-Looking Statements
Unless expressly indicated or the context requires otherwise, the terms “Sotera Health,” “Company,” “we,” “us,” and “our” in this release refer to Sotera Health Company, a Delaware corporation, and, where appropriate, its subsidiaries on a consolidated basis. This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and reflects management’s expectations about future events and the Company’s operating plans and performance and speaks only as of the date hereof. Forward-looking statements present our current forecasts and estimates of future events. These statements do not strictly relate to historical or current results and can be identified by words such as “anticipate,” “appear,” “assume,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “may,” “plan,” “project,” “seek,” “should,” “strategy,” “will” and other terms of similar meaning or import in connection with any discussion of future operating, financial or other performance. These forward-looking statements are subject to risks, uncertainties and other factors and actual results may differ materially from those results projected in the statements. These forward-looking statements are subject to various risks, uncertainties and assumptions relating to our operations, financial results, financial condition, business, prospects, growth strategy and liquidity. These risks and uncertainties include, but are not limited to, a disruption in the availability or supply of, or increases in the price of, EO, Co-60 or our other direct materials, services and supplies, including as a result of geopolitical instability and/or sanctions against Russia by the United States, Canada, the United Kingdom and/or the European Union, or sanctions by Russia against those countries; fluctuations in foreign currency exchange rates; evolving changes in environmental, health and safety regulations; health and safety risks associated with the use, storage, transportation and disposal of potentially hazardous materials such as EO and Co-60; the impact and outcome of current and future legal proceedings and liability claims, including litigation related to the use, emissions and releases of EO from our current and former EO sterilization facilities and the possibility that additional claims will be made in the future; allegations of our failure to properly perform services and potential product liability claims, recalls, penalties and reputational harm; compliance with the extensive regulatory requirements to which we are subject, the related costs, and any failures to receive or maintain, or delays in receiving, required clearances or approvals; adverse changes in industry trends; competition we face; market conditions and changes, including inflationary trends and the impact of tariffs, that impact our long-term supply contracts with variable price clauses and increase our cost of revenues; business continuity hazards, including supply chain disruptions, federal government shutdowns, and other risks associated with our operations; the risks of doing business internationally, including global and regional economic and political instability and compliance with various applicable laws and potentially inconsistent laws and regulations in multiple jurisdictions; our ability to increase capacity at existing facilities, build new facilities in a timely and cost-effective manner and renew leases for our leased facilities; our ability to attract and retain qualified employees; severe health events or environmental events; cybersecurity incidents, unauthorized data disclosures, and our dependence on information technology systems; the risks associated with the introduction of artificial intelligence technology; an inability to pursue strategic transactions, find suitable acquisition targets, or integrate strategic acquisitions into our business successfully; our ability to maintain effective internal control over financial reporting; our reliance on intellectual property rights to maintain our competitive position and the risk of claims from third parties that we have infringed or misappropriated, or are infringing or misappropriating, their intellectual property rights; our ability to comply with rapidly evolving data privacy and security laws and regulations in various jurisdictions and any ineffective compliance efforts with such laws and regulations; our ability to generate profitability in future periods; impairment charges on our goodwill and other intangible assets with indefinite lives, as well as other long-lived assets and intangible assets with definite lives; the effects of unionization efforts and labor regulations in countries in which we operate; adverse changes to our tax positions in U.S. or non-U.S. jurisdictions or the interpretation and application of U.S. tax legislation or other changes in U.S. or non-U.S. taxation of our operations; and our significant degree of leverage and how this leverage could adversely affect our ability to raise additional capital, limit our ability to react to challenges facing our Company or broader changes in our industry or the economy, limit our flexibility in operating our business through restrictions contained in our debt agreements and/or prevent us from meeting our obligations under our existing and future agreements governing our indebtedness. For additional discussion of these risks and uncertainties, please refer to the Company’s filings with the Securities and Exchange Commission, such as its Annual Report on Form 10-K and quarterly reports. We do not undertake any obligation to publicly update or revise these forward-looking statements, except as otherwise required by law.

_{⁽²⁾This is a non-GAAP financial measure used throughout this press release; please refer to the section “Non-GAAP Financial Measures” for explanations of our Non-GAAP financial measures and the schedules provided later in this release for reconciliations of reported GAAP to Non-GAAP financial measures.}

Non-GAAP Financial Measures

To supplement our consolidated financial statements presented in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), we consider Adjusted EBITDA, Adjusted EBITDA margin, Tax Rate Applicable to Adjusted Net Income, Adjusted Net Income, Adjusted EPS, Net Debt, Net Leverage Ratio and constant currency, each of which is a financial measure not based on any standardized methodology prescribed by GAAP.

We define Adjusted Net Income as net income (loss) before amortization and certain other adjustments that we do not consider in our evaluation of our ongoing operating performance from period to period.
We define Adjusted EBITDA as Adjusted Net Income before interest expense, depreciation (including depreciation of Co-60 used in our operations) and income tax provision applicable to Adjusted Net Income.
Adjusted EBITDA margin is equal to Adjusted EBITDA divided by net revenues.
We define Adjusted EPS as Adjusted Net Income divided by the weighted average number of diluted shares outstanding.
Our Net Debt is equal to our total debt, net of unamortized debt issuance costs and debt discounts, less cash and cash equivalents.
Our Net Leverage Ratio is equal to Net Debt divided by Adjusted EBITDA.
Tax Rate Applicable to Adjusted Net Income represents the difference between the income tax provision as determined under U.S. GAAP and the income tax benefit/provision associated with pre-tax adjustments used to calculate Adjusted Net Income.

Constant currency is a non-GAAP financial measure we use to assess performance excluding the impact of foreign currency exchange rate changes. We calculate constant currency net revenues by translating prior year net revenues in local currency at the average exchange rates applicable for the current period. The translated results are then used to determine year-over-year percentage increases or decreases. We generally refer to such amounts calculated on a constant currency basis as excluding the impact of foreign currency exchange rates. These results should be considered in addition to, not as a substitute for, results reported in accordance with GAAP. Results on a constant currency basis, as we present them, may not be comparable to similarly titled measures used by other companies and are not measures of performance presented in accordance with GAAP.

We use these non-GAAP financial measures as the principal measures of our operating performance. Management believes these measures allow management to more effectively evaluate our operating performance and compare the results of our operations from period to period without the impact of certain non-cash items and non-routine items that we do not expect to continue at the same level in the future and other items that are not core to our operations. We believe that these measures are useful to our investors because they provide a more complete understanding of the factors and trends affecting our business than could be obtained without these measures and their disclosure. In addition, we believe these measures will assist investors in making comparisons to our historical operating results and analyzing the underlying performance of our operations for the periods presented. Our management also uses these measurements in their financial analysis and operational decision-making and Adjusted EBITDA serves as the key metric for the attainment of our primary annual incentive program. These measures may be calculated differently from, and therefore may not be comparable to, a similarly titled measure used by other companies.

About Sotera Health

Sotera Health Company is a leading global provider of mission-critical end-to-end sterilization solutions, lab testing and advisory services for the healthcare industry. Sotera Health goes to market through three businesses – Sterigenics^®, Nordion^® and Nelson Labs^®. Sotera Health is committed to its mission, Safeguarding Global Health^®.

Updates on recent developments in matters relevant to investors can be found on the Investor Relations section of the Sotera Health website at Investor Relations | Sotera Health. For developments related to EO, updates can be found at Ethylene Oxide | Sotera Health.

INVESTOR RELATIONS CONTACTS

Jason Peterson
Vice President Investor Relations, Sotera Health
IR@soterahealth.com

MEDIA CONTACTS

Kristin Gibbs
Chief Marketing Officer, Sotera Health
kgibbs@soterahealth.com

Source: Sotera Health Company

Sotera Health Company Consolidated Statements of Operations (in thousands, except per share amounts) (unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Revenues:
Service	$	277,092		$	255,529		$	797,025		$	736,713
Product		47,794			55,783			129,281			123,463
Total net revenues		324,886			311,312			926,306			860,176
Cost of revenues:
Service		127,098			114,337			372,766			335,259
Product		16,999			19,414			47,719			45,303
Total cost of revenues		144,097			133,751			420,485			380,562
Gross profit		180,789			177,561			505,821			479,614
Selling, general and administrative expenses		64,140			63,294			200,507			195,248
Amortization of intangible assets		3,004			3,090			9,050			27,715
Illinois EO litigation settlements		—			—			—			64,943
Interest expense, net		34,122			39,147			103,272			120,674
Loss on refinancing of debt		—			1,087			936			1,167
Foreign exchange gain, net		(1,095	)		(1,528	)		(5,412	)		(612	)
Other income, net		(3,114	)		(464	)		(6,928	)		(6,530	)
Income before income taxes		83,732			72,935			204,396			77,009
Provision for income taxes		25,341			24,535			65,773			33,907
Net income		58,391			48,400			138,623			43,102

Earnings per share:
Basic	$	0.20		$	0.17		$	0.49		$	0.15
Diluted		0.20			0.17			0.48			0.15
Weighted average number of common shares outstanding:
Basic		285,997			284,067			285,557			283,855
Diluted		289,217			286,745			288,271			286,019

Sotera Health Company Segment Data (in thousands) (unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Segment revenues:
Sterigenics	$	209,305		$	192,845		$	607,011		$	557,368
Nordion		55,024			62,805			146,182			137,793
Nelson Labs		60,557			55,662			173,113			165,015
Total net revenues	$	324,886		$	311,312		$	926,306		$	860,176
Segment income:
Sterigenics	$	117,487		$	107,155		$	332,026		$	302,904
Nordion		33,724			38,048			85,415			78,947
Nelson Labs		19,454			18,987			53,616			54,913
Total segment income		170,665			164,190			471,057			436,764
Less adjustments:
Interest expense, net		34,122			39,147			103,272			120,674
Depreciation and amortization^(a)		32,450			28,290			96,522			103,972
Share-based compensation^(b)		7,791			8,047			29,616			23,465
Loss on refinancing of debt^(c)		—			1,087			936			1,167
Gain on foreign currency and derivatives not designated as hedging instruments, net^(d)		(2,101	)		(167	)		(5,747	)		(1,294	)
Business optimization expenses^(e)		2,387			3,098			5,267			7,575
Professional services relating to EO sterilization facilities^(f)		11,656			11,152			34,860			37,515
Illinois EO litigation settlements^(g)		—			—			—			64,943
Accretion of asset retirement obligation^(h)		628			601			1,935			1,738
Consolidated income before income taxes	$	83,732		$	72,935		$	204,396		$	77,009

(a)	Includes depreciation of Co-60 held at gamma irradiation sites, and excludes accelerated depreciation associated with business optimization activities.
(b)	Represents share-based compensation expense related to employees and non-employee Directors.
(c)	Represents the write-off of unamortized debt issuance costs and discounts, as well as certain other costs incurred related to the Term Loans and the Revolving Credit Facility.
(d)	Represents the effects of (i) fluctuations in foreign currency exchange rates and (ii) non-cash mark-to-fair value of embedded derivatives relating to certain customer and supply contracts at Nordion.
(e)	Represents (i) certain costs related to divestitures, acquisitions and the integration of acquisitions, (ii) professional fees and other costs associated with business optimization, cost saving and other process enhancement projects, and (iii) legal, consulting, and other fees associated with the secondary offerings and shareholder engagement.
(f)	Represents litigation and other professional fees associated with our EO sterilization facilities.
(g)	Represents (i) the cost to settle 97 pending and threatened EO claims against Sterigenics in Illinois pursuant to the term sheet entered into on April 3, 2025 and (ii) the cost to settle 129 pending and threatened EO claims against Sterigenics in Illinois pursuant to the term sheet entered into on July 23, 2025.
(h)	Represents non-cash accretion of asset retirement obligations (“ARO”) related to Co-60 gamma and EO processing facilities, which are based on estimated site remediation costs for any future decommissioning of these facilities and are accreted over the life of the asset.

Sotera Health Company Condensed Consolidated Balance Sheets (in thousands) (unaudited)

	As of September 30,		As of December 31,
	2026		2025
Assets
Current assets:
Cash and cash equivalents	$	412,393	$	346,456
Accounts receivable, net		152,771		139,329
Inventories, net		49,629		54,375
Other current assets		86,235		73,250
Total current assets		701,028		613,410
Property, plant, and equipment, net		1,198,761		1,130,564
Operating lease assets		29,242		33,393
Other intangible assets, net		264,837		288,227
Goodwill		1,091,217		1,103,232
Other assets		102,317		94,364
Total assets	$	3,387,402	$	3,263,190
Liabilities and equity
Total current liabilities	$	223,688	$	249,584
Long-term debt, less current portion		2,123,216		2,126,724
Other noncurrent liabilities		213,913		209,772
Deferred income taxes		93,342		71,075
Total liabilities		2,654,159		2,657,155
Total equity		733,243		606,035
Total liabilities and equity	$	3,387,402	$	3,263,190

Sotera Health Company Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited)

	Nine Months Ended September 30,
		2026			2025
Operating activities:
Net income	$	138,623		$	43,102
Adjustments to reconcile net income to net cash provided by operating activities:
Non-cash items		150,412			121,455
Changes in operating assets and liabilities		(60,556	)		19,534
Net cash provided by operating activities		228,479			184,091
Investing activities:
Purchases of property, plant and equipment		(145,450	)		(87,319	)
Other investing activities		5,275			2,874
Net cash used in investing activities		(140,175	)		(84,445	)
Financing activities:
Payments on long-term borrowings		(7,097	)		(82,547	)
Payments of debt issuance costs		(1,140	)		(3,919	)
Shares withheld for employee taxes on equity awards		(9,359	)		(3,861	)
Other financing activities		618			(2,032	)
Net cash used in financing activities		(16,978	)		(92,359	)
Effect of exchange rate changes on cash and cash equivalents		(5,389	)		14,874
Net increase in cash and cash equivalents, including restricted cash		65,937			22,161
Cash and cash equivalents, including restricted cash, at beginning of period		346,456			278,865
Cash and cash equivalents, including restricted cash, at end of period	$	412,393		$	301,026

Supplemental disclosures of cash flow information:
Cash paid during the period for interest	$	106,179		$	129,600
Cash paid during the period for income taxes, net of tax refunds received		39,795			47,607
Purchases of property, plant and equipment included in accounts payable		30,620			17,215

Sotera Health Company Non-GAAP Financial Measures (in thousands, except per share amounts) (unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Net income	$	58,391		$	48,400		$	138,623		$	43,102
Amortization of intangible assets		5,526			5,648			16,691			36,246
Share-based compensation^(a)		7,791			8,047			29,616			23,465
Loss on refinancing of debt^(b)		—			1,087			936			1,167
Gain on foreign currency and derivatives not designated as hedging instruments, net^(c)		(2,101	)		(167	)		(5,747	)		(1,294	)
Business optimization expenses^(d)		2,387			3,098			5,267			7,575
Professional services relating to EO sterilization facilities^(e)		11,656			11,152			34,860			37,515
Illinois EO litigation settlements^(f)		—			—			—			64,943
Accretion of asset retirement obligation^(g)		628			601			1,935			1,738
Income tax benefit associated with pre-tax adjustments^(h)		(1,790	)		(2,596	)		(13,366	)		(44,081	)
Adjusted Net Income		82,488			75,270			208,815			170,376
Interest expense, net		34,122			39,147			103,272			120,674
Depreciation⁽ⁱ⁾		26,924			22,642			79,831			67,726
Income tax provision applicable to Adjusted Net Income^(j)		27,131			27,131			79,139			77,988
Adjusted EBITDA^(k)	$	170,665		$	164,190		$	471,057		$	436,764

Net Revenues	$	324,886		$	311,312		$	926,306		$	860,176
Adjusted EBITDA Margin		52.5	%		52.7	%		50.9	%		50.8	%
Weighted average number of shares outstanding:
Basic		285,997			284,067			285,557			283,855
Diluted		289,217			286,745			288,271			286,019
Earnings per share:
Basic	$	0.20		$	0.17		$	0.49		$	0.15
Diluted		0.20			0.17			0.48			0.15
Adjusted earnings per share:
Basic	$	0.29		$	0.26		$	0.73		$	0.60
Diluted		0.29			0.26			0.72			0.60

(a)	Represents share-based compensation expense related to employees and non-employee Directors.
(b)	Represents the write-off of unamortized debt issuance costs and discounts, as well as certain other costs incurred related to the Term Loans and the Revolving Credit Facility.
(c)	Represents the effects of (i) fluctuations in foreign currency exchange rates and (ii) non-cash mark-to-fair value of embedded derivatives relating to certain customer and supply contracts at Nordion.
(d)	Represents (i) certain costs related to divestitures, acquisitions and the integration of acquisitions, (ii) professional fees and other costs associated with business optimization, cost saving and other process enhancement projects, and (iii) legal, consulting, and other fees associated with the secondary offerings and shareholder engagement.
(e)	Represents litigation and other professional fees associated with our EO sterilization facilities.
(f)	Represents (i) the cost to settle 97 pending and threatened EO claims against Sterigenics in Illinois pursuant to the term sheet entered into on April 3, 2025 and (ii) the cost to settle 129 pending and threatened EO claims against Sterigenics in Illinois pursuant to the term sheet entered into on July 23, 2025.
(g)	Represents non-cash accretion of ARO related to Co-60 gamma and EO processing facilities, which are based on estimated site remediation costs for any future decommissioning of these facilities and are accreted over the life of the asset.
(h)	Represents the income tax impact of adjustments calculated based on the tax rate applicable to each item. We eliminate the effect of tax rate changes as applied to tax assets and liabilities and unusual items from our presentation of Adjusted Net Income.
(i)	Includes depreciation of Co-60 held at gamma irradiation sites, and excludes accelerated depreciation associated with business optimization activities.
(j)	Represents the difference between the income tax provision as determined under U.S. GAAP and the income tax benefit associated with pre-tax adjustments described in footnote (h).
(k)	$27.6 million and $24.1 million of the adjustments for the three months ended September 30, 2026 and 2025, respectively, and $82.8 million and $72.7 million of the adjustments for the nine months ended September 30, 2026 and 2025, respectively, are included in cost of revenues, primarily consisting of amortization of intangible assets, depreciation, and accretion of ARO.

Sotera Health Company Non-GAAP Financial Measures ($’s in thousands) (unaudited)

	As of September 30,			As of December 31,
		2026			2025
Current portion of long-term debt	$	13,933		$	13,973
Long-term debt		2,123,216			2,126,724
Current portion of finance leases		3,565			3,465
Finance leases less current portion		103,546			93,835
Total Debt		2,244,260			2,237,997
Less: cash and cash equivalents		(412,384	)		(344,621	)
Net Debt	$	1,831,876		$	1,893,376

Adjusted EBITDA^(a)	$	628,094		$	593,801
Net Leverage	2.9x			3.2x

(a)	Represents Adjusted EBITDA for the twelve months ended September 30, 2026 and December 31, 2025, respectively. Refer to the reconciliation of net income (the most comparable GAAP measure) to Adjusted EBITDA on the following page.

Sotera Health Company Non-GAAP Financial Measures (in thousands) (unaudited)

	Twelve Months Ended September 30,			Twelve Months Ended December 31,
		2026			2025
Net income	$	173,470		$	77,949
Amortization of intangible assets		22,243			41,798
Share-based compensation^(a)		37,219			31,068
Loss on refinancing of debt^(b)		1,231			1,462
(Gain) loss on foreign currency and derivatives not designated as hedging instruments, net^(c)		(4,395	)		58
Business optimization expenses^(d)		5,760			8,068
Professional services relating to EO sterilization facilities^(e)		43,570			46,225
Illinois EO litigation settlements^(f)		—			64,943
Accretion of asset retirement obligation^(g)		2,518			2,321
Income tax provision (benefit) associated with pre-tax adjustments^(h)		2,237			(28,478	)
Adjusted Net Income		283,853			245,414
Interest expense, net		138,320			155,722
Depreciation⁽ⁱ⁾		106,735			94,630
Income tax provision applicable to Adjusted Net Income^(j)		99,186			98,035
Adjusted EBITDA^(k)	$	628,094		$	593,801

Net revenues	$	1,229,747		$	1,163,617
Adjusted EBITDA margin		51.1	%		51.0	%

(a)	Represents share-based compensation expense related to employees and non-employee Directors.
(b)	Represents the write-off of unamortized debt issuance costs and discounts, as well as certain other costs incurred related to the Term Loans and the Revolving Credit Facility.
(c)	Represents the effects of (i) fluctuations in foreign currency exchange rates and (ii) non-cash mark-to-fair value of embedded derivatives relating to certain customer and supply contracts at Nordion.
(d)	Represents (i) certain costs related to divestitures, acquisitions and the integration of acquisitions, (ii) professional fees and other costs associated with business optimization, cost saving and other process enhancement projects, and (iii) legal, consulting, and other fees associated with the secondary offerings and shareholder engagement.
(e)	Represents litigation and other professional fees associated with our EO sterilization facilities.
(f)	Represents (i) the cost to settle 97 pending and threatened EO claims against Sterigenics in Illinois pursuant to the term sheet entered into on April 3, 2025 and (ii) the cost to settle 129 pending and threatened EO claims against Sterigenics in Illinois pursuant to the term sheet entered into on July 23, 2025.
(g)	Represents non-cash accretion of ARO related to Co-60 gamma and EO processing facilities, which are based on estimated site remediation costs for any future decommissioning of these facilities and are accreted over the life of the asset.
(h)	Represents the income tax impact of adjustments calculated based on the tax rate applicable to each item. We eliminate the effect of tax rate changes as applied to tax assets and liabilities and unusual items from our presentation of Adjusted Net Income.
(i)	Includes depreciation of Co-60 held at gamma irradiation sites and excludes accelerated depreciation associated with business optimization activities.
(j)	Represents the difference between the income tax provision as determined under GAAP and the income tax provision (benefit) associated with pre-tax adjustments described in footnote (h).
(k)	$110.0 million and $99.9 million of the adjustments for the twelve months ended September 30, 2026 and December 31, 2025, respectively, are included in cost of revenues, primarily consisting of amortization of intangible assets, depreciation, and accretion of asset retirement obligations.

Posted in UncategorizedTagged GlobeNewswire

Strata Critical Medical Announces Third Quarter 2026 Results

Posted on November 3, 2026 by Ravi Shankar

Revenue increased 50.3% year-over-year to $74.1 million in Q3 2026
Clinical revenue increased 20.3% sequentially in Q3 2026 vs Q2 2026
Q3 2026 net loss from continuing operations of $(7.6) million or (10.3)% of revenue
Adjusted EBITDA⁽¹⁾ of $9.6 million in Q3 2026; Adjusted EBITDA margin of 13.0%
Cash flow from operating activities was $9.5 million in Q3 2026; Free Cash Flow⁽¹⁾ was $8.6 million in Q3 2026
Announced $20 million share repurchase authorization; will be deployed along with continued M&A strategy execution

NEW YORK, Nov. 03, 2026 (GLOBE NEWSWIRE) — Strata Critical Medical, Inc. (Nasdaq: SRTA, “Strata” or the “Company”), today announced financial results for the third quarter ended September 30, 2026. Financial results in this release, including all comparisons to prior year periods, reflect continuing operations only.

GAAP FINANCIAL RESULTS
(in thousands except percentages, unaudited)

	Three Months Ended September 30,								Nine Months Ended September 30,
		2026			2025		% Change			2026			2025		% Change
Revenue:
Logistics	$	44,899		$	46,507		(3.5) %		$	140,738		$	127,563		10.3	%
Transplant Clinical		15,217			1,199		NM⁽²⁾			37,577			1,199		NM⁽²⁾
Other Clinical		13,965			1,592		NM⁽²⁾			35,656			1,592		NM⁽²⁾
Total Clinical		29,182			2,791		NM⁽²⁾			73,233			2,791		NM⁽²⁾
Total revenue	$	74,081		$	49,298		50.3	%	$	213,971		$	130,354		64.1	%
Gross profit:
Logistics	$	9,335		$	9,990		(6.6) %		$	27,388		$	26,050		5.1	%
Clinical		7,485			664		NM⁽²⁾			18,764			664		NM⁽²⁾
Total gross profit	$	16,820		$	10,654		57.9	%	$	46,152		$	26,714		72.8	%

Gross margin		22.7	%		21.6	%	110bps			21.6	%		20.5	%	110bps

Selling, general and administrative	$	15,140		$	15,912		(4.9) %		$	44,741		$	41,534		7.7	%
SG&A as a percentage of revenue		20.4	%		32.3	%	(1,190bps)			20.9	%		31.9	%	(1,100bps)
Amortization of intangible assets		5,511			364		1,414.0	%		13,624			1,128		1,107.8	%
Total operating expenses	$	20,651		$	16,276		26.9	%	$	58,365		$	42,662		36.8	%
Operating loss from continuing operations	$	(3,831	)	$	(5,622	)	(31.9) %		$	(12,213	)	$	(15,948	)	(23.4) %
Net loss from continuing operations	$	(7,615	)	$	(9,657	)	(21.1) %		$	(15,729	)	$	(14,678	)	7.2	%
Net loss from continuing operations as a percentage of revenue	(10.3) %			(19.6) %			930bps		(7.4) %			(11.3) %			390bps

NON-GAAP⁽¹⁾ FINANCIAL RESULTS
(in thousands except percentages, unaudited)

	Three Months Ended September 30,								Nine Months Ended September 30,
		2026			2025		% Change			2026			2025		% Change
Revenue:
Logistics	$	44,899		$	46,507		(3.5) %		$	140,738		$	127,563		10.3	%
Transplant Clinical		15,217			1,199		NM⁽²⁾			37,577			1,199		NM⁽²⁾
Other Clinical		13,965			1,592		NM⁽²⁾			35,656			1,592		NM⁽²⁾
Total Clinical		29,182			2,791		NM⁽²⁾			73,233			2,791		NM⁽²⁾
Total revenue	$	74,081		$	49,298		50.3	%	$	213,971		$	130,354		64.1	%
Gross profit:
Logistics ⁽³⁾	$	9,335		$	9,990		(6.6) %		$	27,388		$	26,050		5.1	%
Clinical ⁽⁴⁾		7,485			664		NM⁽²⁾			18,764			664		NM⁽²⁾
Total gross profit	$	16,820		$	10,654		57.9	%	$	46,152		$	26,714		72.8	%

Gross margin:
Logistics		20.8	%		21.5	%	(70bps)			19.5	%		20.4	%	(90bps)
Clinical		25.6	%		23.8	%	NM⁽²⁾			25.6	%		23.8	%	NM⁽²⁾
Total gross margin		22.7	%		21.6	%	110bps			21.6	%		20.5	%	110bps

Adjusted SG&A	$	8,926		$	7,463		19.6	%	$	27,255		$	22,249		22.5	%
Adjusted SG&A as a percentage of revenue		12.0	%		15.1	%	(310bps)			12.7	%		17.1	%	(440bps)
Adjusted EBITDA	$	9,606		$	4,214		128.0	%	$	23,903		$	7,096		236.9	%
Adjusted EBITDA as a percentage of revenue		13.0	%		8.5	%	450bps			11.2	%		5.4	%	580bps

“Our strong third quarter results speak for themselves,” said Melissa Tomkiel, Co-CEO and General Counsel. “We demonstrated additional market share gains in our clinical business, continued sequential margin improvement, and a reduction in our Adjusted SG&A base quarter-over-quarter, even following our significant growth and the completion of three acquisitions during Q2.”

Tomkiel continued, “Strategically, this quarter puts a spotlight on the scalability and cash generation potential of our business model with a record $8.6 million of Free Cash Flow in Q3. Tactically, we are happy to see Logistics gross margins back up above our 20% target faster than we anticipated.”

“Given Strata’s improved cash generation coupled with the receipt of our first passenger sale earn-out, we are now in a position to both accelerate our target pace of acquisitions as well as opportunistically return cash to shareholders through our new buyback program,” said Will Heyburn, Co-CEO and CFO. “We have an excellent pipeline of opportunities to deploy capital at mid-single-digit cash flow multiples with a focus on opportunities that will further enhance our overall margin and free cash conversion profile.”

Heyburn continued, “We are also pleased to report that we are pacing ahead of the medium-term goals we set out last year. The underlying driver of our financial performance is simple: better service, architected for efficiency, delivered in partnership with our customers to prioritize their individual preferences and our shared goal to save more lives.”

Third Quarter Ended September 30, 2026 Financial Highlights

Total revenue increased 50.3% to $74.1 million in Q3 2026 versus $49.3 million in the prior year period driven by Clinical acquisitions partially offset by Logistics. On a pro forma⁽¹⁾ basis, revenue increased 8.5% year-over-year in Q3 2026.
Logistics revenue decreased 3.5% to $44.9 million in Q3 2026 versus $46.5 million in the prior year period. On a sequential basis, Logistics revenue decreased 6.9%, towards the high end of our guidance framework and consistent with seasonal transplant industry volume declines.
Clinical revenue increased to $29.2 million in Q3 2026 versus $2.8 million in the prior year period driven by a full quarter contribution from the Keystone acquisition that closed in Q3 2025 and three acquisitions that closed in Q2 2026. Clinical revenue increased 20.3% sequentially in Q3 2026, driven primarily by the full quarter impact of recent acquisitions as well as modest organic sequential growth.
Gross profit increased 57.9% to $16.8 million in Q3 2026 versus $10.7 million in the prior year period driven by growth in Clinical and Clinical acquisitions partially offset by Logistics.
Gross margin increased 110 basis points to 22.7% in Q3 2026 versus 21.6% in the prior year period driven primarily by the positive mix impact of our larger Clinical segment, which also saw margin expansion versus 2025, partially offset by a decline in Logistics gross margin.
Logistics gross profit decreased 6.6% to $9.3 million in Q3 2026 versus $10.0 million in the prior year period. Logistics gross margin of 20.8% in Q3 2026 declined versus 21.5% the prior year period driven primarily by an increase in fuel surcharge pass through revenue, and a reduction in average distances between donor and recipient, industry-wide and at Strata, which results in lower margins on owned aircraft. Logistics gross margin rebounded 240 basis points sequentially to 20.8% from 18.4% in Q2 2026.
Clinical gross profit increased to $7.5 million in Q3 2026 versus $0.7 million in Q3 2025, driven primarily by a full quarter contribution from the Keystone acquisition that closed in Q3 2025 and three acquisitions that closed in Q2 2026. Clinical gross margin increased to 25.6% in Q3 2026 versus 23.8% in Q3 2025. Clinical gross margin declined 50 basis points versus 26.1% in Q2 2026 primarily due to investments in staff and training to support future growth.
Total Selling, General and Administrative expenses decreased $0.8 million to $15.1 million in Q3 2026 versus $15.9 million in Q3 2025. Adjusted SG&A⁽¹⁾ increased $1.5 million to $8.9 million in Q3 2026 versus $7.5 million in Q3 2025 driven primarily by the acquisitions in Clinical. On a sequential basis, Adjusted SG&A⁽¹⁾ decreased $0.2 million in Q3 2026 versus Q2 2026.
Net loss from continuing operations improved by $2.0 million to $(7.6) million in Q3 2026 versus $(9.7) million in Q3 2025.
Adjusted EBITDA⁽¹⁾ was $9.6 million in Q3 2026 versus $4.2 million in Q3 2025. Adjusted EBITDA margin rose to 13.0% in Q3 2026 versus 8.5% in Q3 2025. The 450 basis points increase in Adjusted EBITDA margin versus Q3 2025 was driven by the increase in Clinical gross margin and a reduction in Adjusted SG&A as a percentage of revenue, partially offset by a decrease in Logistics gross margin.
Cash flow from operating activities was $9.5 million in Q3 2026.
Free Cash Flow was $8.6 million in Q3 2026.
Ended Q3 2026 with $41.6 million in cash and short-term investments.

Business Highlights and Recent Updates

Announced a $20 million share repurchase authorization, which will be utilized alongside our M&A strategy.
Launched a new cardiothoracic surgical locum tenens business line to address customer demand, enabling increased opportunities for Strata surgeons to cover traditional surgical needs in addition to transplant.
Received the EBITDA earn-out from the Passenger business sale during the quarter, settled in Joby Aviation stock that we sold for net proceeds of $15.3 million. Up to an additional $27.5 million of retention earn-out and indemnity holdback release may be received by Q1 2027.

Financial Outlook

Today, we are reiterating our 2026 guidance:

Revenue of $285-295 million
Adjusted EBITDA⁽²⁾of $33-35 million
Free cash flow, before aircraft and engine acquisitions⁽²⁾ of $15-22 million

Pro forma, assuming all acquisitions completed in 2026 closed on January 1, 2026, our 2026 revenue and Adjusted EBITDA guidance would be approximately:

Revenue of $295-305 million
Adjusted EBITDA⁽²⁾of $36-38 million

Conference Call

The Company will conduct a conference call starting at 8:00 a.m. ET on November 3, 2026 to discuss the results for the third quarter ended September 30, 2026.

A live audio-only webcast of the call may be accessed from the Investor Relations section of the Company’s website at https://ir.stratacritical.com/. An archived replay of the call will be available on the Investor Relations section of the Company’s website for one year.

(1) See “Use of Non-GAAP Financial Information” and “Key Metrics and Non-GAAP Financial Information” sections attached to this release for an explanation of Non-GAAP measures used and reconciliations to the most directly comparable GAAP financial measure.
(2) We have not reconciled the forward-looking Adjusted EBITDA and free cash flow, before aircraft and engine acquisitions guidance included above to the most directly comparable GAAP measures because this cannot be done without unreasonable effort due to the variability and low visibility with respect to certain costs, the most significant of which are, with respect to Adjusted EBITDA, incentive compensation (including stock-based compensation), transaction-related expenses, and certain fair value measurements, which are potential adjustments to future earnings, and with respect to free cash flow, before aircraft and engine acquisitions, changes in operating assets and liabilities. We expect the variability of these items to have a potentially unpredictable, and a potentially significant, impact on our future GAAP financial results.

Use of Non-GAAP Financial Information

Strata believes that the non-GAAP measures discussed below, viewed in addition to and not in lieu of our reported U.S. generally accepted accounting principles (“GAAP”) results, provide useful information to investors by providing a more focused measure of operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. The non-GAAP measures presented herein may not be comparable to similarly titled measures presented by other companies. Adjusted EBITDA, Adjusted SG&A, Free Cash Flow, Free Cash Flow before aircraft and engine acquisitions, and pro forma revenue have all been reconciled to the nearest GAAP measure in the tables within this press release.

Adjusted EBITDA – Strata reports Adjusted EBITDA, which is a non-GAAP financial measure. Strata defines Adjusted EBITDA as net income (loss) from continuing operations adjusted to exclude: (1) depreciation and amortization; (2) stock-based compensation; (3) change in fair value of warrant liabilities and other assets and liabilities; (4) interest income and expense; (5) income tax; (6) realized gains and losses on short-term investments; and (7) certain other non-recurring items that management does not believe are indicative of the Company’s ongoing operating performance and would impact the comparability of results between periods.

Adjusted SG&A – Strata defines Adjusted selling, general and administrative (“SG&A”) expenses as SG&A adjusted to exclude: (1) depreciation; (2) stock-based compensation; and (3) other non-cash items and certain other non-recurring items that management does not believe are indicative of the Company’s ongoing operating performance that would impact the comparability of results between periods.

Free Cash Flow, and Free Cash Flow before aircraft and engine acquisitions – Strata defines Free Cash Flow as net cash provided by / (used in) operating activities less capital expenditures and capitalized software development costs (net of proceeds from disposals). Free Cash Flow before aircraft and engine acquisitions is defined as Free Cash Flow excluding cash outflows related to aircraft and engine acquisitions. Strata believes these measures provide valuable insights into the Company’s cash-generating capacity. In particular, Free Cash Flow before aircraft and engine acquisitions highlights the cash generated by Strata’s continuing operations prior to the impact of aircraft and engine acquisitions, which are discretionary and strategic in nature.

Pro forma revenue – Strata defines pro forma revenue as reported revenue adjusted to include the revenue of the OVPA, LPS and HLT-NRP acquisitions and the Keystone acquisition as if each had occurred at the beginning of the annual period preceding the year of acquisition. Strata believes this measure is useful to investors because it facilitates the evaluation of period-over-period revenue growth of the combined business on a comparable basis. Pro forma revenue is presented for informational purposes only and is not necessarily indicative of the results that would have been achieved had the acquisitions occurred on those dates or of future results.

Financial Results

STRATA CRITICAL MEDICAL, INC.
Condensed Consolidated Balance Sheets
(in thousands, except share data, unaudited)

	September 30, 2026			December 31, 2025
Assets
Current assets:
Cash and cash equivalents	$	35,136		$	30,968
Restricted cash		265			264
Accounts receivable, net of allowance of $195 and $1,066 at September 30, 2026 and December 31, 2025, respectively		42,772			39,958
Short-term investments		6,505			30,263
Prepaid expenses and other current assets		40,461			24,739
Total current assets		125,139			126,192

Non-current assets:
Property and equipment, net		39,622			36,444
Intangible assets, net		58,830			47,502
Goodwill		101,918			88,210
Operating right-of-use asset		3,287			3,107
Other non-current assets		88			24,017
Total assets	$	328,884		$	325,472

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses	$	14,358		$	19,142
Operating lease liability, current		858			652
Other current liabilities		29,902			—
Total current liabilities		45,118			19,794

Non-current liabilities:
Warrant liability		—			1,530
Operating lease liability, non-current		2,765			2,655
Deferred tax liability		271			348
Other non-current liabilities		4,355			22,073
Total liabilities		52,509			46,400

Stockholders’ Equity
Preferred stock, $0.0001 par value, 2,000,000 shares authorized; no shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively		—			—
Common stock, $0.0001 par value; 400,000,000 shares authorized; 89,317,857 and 86,702,183 shares issued at September 30, 2026 and December 31, 2025, respectively		7			7
Additional paid-in capital		437,896			424,616
Accumulated other comprehensive income		—			—
Accumulated deficit		(161,528	)		(145,551	)
Total stockholders’ equity		276,375			279,072
Total liabilities and stockholders’ equity	$	328,884		$	325,472

STRATA CRITICAL MEDICAL, INC.
Condensed Consolidated Statements of Operations
(in thousands, except share data, unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Revenue	$	74,081		$	49,298		$	213,971		$	130,354
Cost of revenue		57,261			38,644			167,819			103,640
Gross profit		16,820			10,654			46,152			26,714

Operating expenses
Selling, general and administrative		15,140			15,912			44,741			41,534
Amortization of intangible assets		5,511			364			13,624			1,128
Total operating expenses		20,651			16,276			58,365			42,662

Operating loss from continuing operations		(3,831	)		(5,622	)		(12,213	)		(15,948	)

Other non-operating income (loss)
Interest income, net		146			1,127			950			3,603
Change in fair value of warrant liabilities		—			33			1,530			2,862
Change in fair value of assets and other liabilities		(2,649	)		—			(4,715	)		—
Realized loss from sales of short-term investments		(1,281	)		(5,195	)		(1,281	)		(5,195	)
Total other non-operating income (loss)		(3,784	)		(4,035	)		(3,516	)		1,270

Loss from continuing operations before income taxes		(7,615	)		(9,657	)		(15,729	)		(14,678	)
Income tax expense from continuing operations		—			—			—			—
Net loss from continuing operations		(7,615	)		(9,657	)		(15,729	)		(14,678	)
Net income (loss) from discontinued operations		—			67,073			(248	)		64,858
Net income (loss)	$	(7,615	)	$	57,416		$	(15,977	)	$	50,180

Basic and diluted earnings (loss) per share
Continuing operations	$	(0.09	)	$	(0.12	)	$	(0.18	)	$	(0.18	)
Discontinued operations		—			0.81			—			0.80
Total basic and diluted earnings (loss) per share	$	(0.09	)	$	0.70		$	(0.18	)	$	0.62

Weighted-average number of shares outstanding:
Basic		88,274,370			82,454,657			86,614,558			81,223,912
Diluted		88,274,370			82,454,657			86,614,558			81,223,912

STRATA CRITICAL MEDICAL, INC.
Condensed Consolidated Statements of Cash Flows
(in thousands, unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Cash Flows From Operating Activities:
Net income (loss)	$	(7,615	)	$	57,416		$	(15,977	)	$	50,180
Adjustments to reconcile net income (loss) to net cash and restricted cash provided by / (used in) operating activities:
(Gain) loss on sale of business		—			(60,435	)		344			(60,435	)
Depreciation and amortization		7,312			1,704			18,887			5,177
Stock-based compensation		5,049			1,680			13,790			11,246
Change in fair value of warrant liabilities		—			(33	)		(1,530	)		(2,862	)
Change in fair value of other assets and liabilities		2,649			—			4,715			—
Transaction costs paid related to sale of business		—			(5,964	)		—			(5,964	)
Acquisition consideration allocated to seller transaction expenses		—			(44,339	)		—			(44,339	)
Realized loss from sale of short-term investments		1,281			5,195			1,281			5,195
Realized foreign exchange gain		—			(812	)		—			(798	)
Accretion of interest income on held-to-maturity securities		(60	)		(224	)		(506	)		(1,732	)
Deferred tax expense (benefit)		—			554			(96	)		558
Non-cash capital contribution		339			—			672			—
Other		189			(26	)		315			388
Changes in operating assets and liabilities:
Prepaid expenses and other current assets		(1,107	)		2,426			(1,301	)		776
Accounts receivable		1,356			(1,774	)		839			(8,551	)
Other non-current assets		2			592			79			666
Operating right-of-use assets/lease liabilities		21			(29	)		136			(90	)
Accounts payable and accrued expenses		54			7,481			(2,591	)		8,395
Deferred revenue		(12	)		(709	)		(27	)		1,583
Net cash provided by / (used in) operating activities (includes discontinued operations)		9,458			(37,297	)		19,030			(40,607	)

Cash Flows From Investing Activities:
Acquisitions, net of cash acquired		(995	)		(65,174	)		(35,818	)		(65,174	)
Cash transfer related to sale of business		—			(1,241	)		(290	)		(1,241	)
Capitalized software development costs		(415	)		(297	)		(1,031	)		(1,258	)
Purchase of property and equipment, net of proceeds from disposal		(400	)		(2,898	)		(8,069	)		(7,747	)
Purchase of held-to-maturity investments		—			(49,855	)		(6,254	)		(146,258	)
Proceeds from maturities of held-to-maturity investments		—			51,700			30,500			203,000
Proceeds from sale of short-term investments		15,271			70,163			15,271			70,163
Net cash (used in) / provided by investing activities (includes discontinued operations)		13,461			2,398			(5,691	)		51,485

Cash Flows From Financing Activities:
Proceeds from the exercise of common stock options		4			65			59			139
Taxes paid related to net share settlement of equity awards		(4,086	)		(1,852	)		(8,874	)		(7,309	)
Payments for debt issuance costs		(17	)		—			(355	)		—
Net cash used in financing activities (includes discontinued operations)		(4,099	)		(1,787	)		(9,170	)		(7,170	)

Effect of foreign exchange rate changes on cash balances		—			(616	)		—			(339	)
Net increase / (decrease) in cash and cash equivalents and restricted cash		18,820			(37,302	)		4,169			3,369
Cash and cash equivalents and restricted cash – beginning		16,581			60,318			31,232			19,647
Cash and cash equivalents and restricted cash – ending	$	35,401		$	23,016		$	35,401		$	23,016

Reconciliation to condensed consolidated balance sheets (includes discontinued operations)
Cash and cash equivalents	$	35,136		$	22,753		$	35,136		$	22,753
Restricted cash		265			263			265			263
Total cash and cash equivalents and restricted cash	$	35,401		$	23,016		$	35,401		$	23,016

Supplemental cash flow information
Cash paid for:
Income taxes paid	$	491		$	—		$	584		$	23
Non-cash investing and financing activities:
Common stock received for sale of business	$	16,551		$	75,357		$	16,551		$	75,357
Contingent consideration and indemnity holdback receivable from sale of business in contingent consideration and other non-current assets, respectively		—			36,233			—			36,233
New leases under ASC 842 entered into during the period	$	—		$	397		$	1,317		$	1,597
Contingent consideration in accounts payable and accrued expenses and other current and non-current liabilities		352			9,215			3,302			9,215
Common stock issued for acquisition		—			8,414			4,267			8,414
Return of escrowed share consideration previously in accounts payable and accrued expenses		1,989			—			1,989			—
Reclassification of escrowed share consideration from accounts payable and accrued expenses to equity		3,366			—			3,366			—
Purchases of property and equipment and capitalized software in accounts payable and accrued expenses		515			284			574			518
Non-cash proceeds from disposal of property and equipment included in other current assets		100			—			100			—

Key Metrics and Non-GAAP Financial Information

RECONCILIATION OF TOTAL SG&A TO ADJUSTED SG&A EXPENSE
(in thousands except percentages, unaudited)

	Three Months Ended September 30,						Three Months Ended June 30,			Nine Months Ended September 30,
		2026			2025			2026			2026			2025
Total Selling, general and administrative	$	15,140		$	15,912		$	13,996		$	44,741		$	41,534
Adjustments to reconcile SG&A to Adjusted SG&A
Subtract:
Depreciation		89			58			101			257			133
Stock-based compensation		5,049			1,646			3,706			13,790			10,372
Legal expenses and regulatory advocacy fees⁽¹⁾		50			5,045			(83	)		176			5,748
Contingent consideration compensation (earn-out)⁽²⁾		339			—			333			672			—
M&A transaction costs and integration of the acquired company⁽³⁾		395			1,134			652			1,697			1,168
Reorganization and rebranding costs related to the sale of the Passenger business⁽⁴⁾		210			—			172			801			—
Corporate staff costs included in the sold Passenger business⁽⁵⁾		—			566			—			—			1,864
Other⁽⁶⁾		82			—			—			93			—
Adjusted SG&A	$	8,926		$	7,463		$	9,115		$	27,255		$	22,249
Adjusted SG&A as a percentage of revenue		12.0	%		15.1	%		12.6	%		12.7	%		17.1	%

(1) For the three and nine months ended September 30, 2026, includes the settlement fees related to one legal matter and legal fees relating to one specific litigation, partially offset by the reversal of a provision that had previously been adjusted in the calculation of Adjusted EBITDA. For the three months ended June 30, 2026, includes the reversal of a provision that had previously been adjusted in the calculation of Adjusted EBITDA, partially offset by legal fees relating to one specific litigation. For the three and nine months ended September 30, 2025, comprised of legal fees related to the Drulias class action lawsuit, for which the parties entered into a Stipulation of Settlement to fully resolve the matter in December 2025. We consider those matters to be non-recurring and not representative of the legal and regulatory advocacy costs typically incurred in the ordinary course of business.

(2) Represents contingent consideration in connection with the Keystone acquisition, where part of the Seller earnout was allocated to a vendor.

(3) For the three and nine months ended September 30, 2026 and 2025, and the three months ended June 30, 2026, consists of M&A transaction costs (including legal fees and professional fees related to financial, legal, and tax due diligence); and costs of integrating Keystone into a public company environment, including enterprise resource planning migration and software development costs to enhance its internally developed software to meet internal control standards.
(4) For the three and nine months ended September 30, 2026, and the three months ended June 30, 2026, consists of rebranding costs related to the decommissioning of the Blade brand and the introduction of the Strata brand; one-time reorganization costs related to the restructuring of Strata headquarters staff following the transfer of certain positions to Joby Aviation; and software application costs incurred to separate our software from the Passenger platform.
(5) Represents corporate staff costs related to employees who transferred to Joby Aviation following the sale of the Passenger business on August 29, 2025. This adjustment is intended to enhance period-to-period comparability by excluding from all periods, costs associated with transferred employees whose corporate functions were not replaced. Under U.S. GAAP (ASC 205-20), these costs were required to remain in continuing operations prior to the divestiture because they were not directly attributable to discontinued operations.
(6) Consists of non-cash realized loss from disposal of fixed assets.

RECONCILIATION OF NET INCOME (LOSS) FROM CONTINUING OPERATIONS TO ADJUSTED EBITDA
(in thousands except percentages, unaudited)

	Three Months Ended September 30,						Three Months Ended June 30,			Nine Months Ended September 30,
		2026			2025			2026			2026			2025
Net loss from continuing operations	$	(7,615	)	$	(9,657	)	$	(10,516	)	$	(15,729	)	$	(14,678	)
Add (deduct):
Depreciation and amortization		7,312			1,445			8,515			18,887			3,892
Stock-based compensation		5,049			1,646			3,706			13,790			10,372
Change in fair value of warrant liabilities		—			(33	)		(71	)		(1,530	)		(2,862	)
Change in fair value of assets and other liabilities		2,649			—			5,510			4,715			—
Realized loss from sales of short-term investments ⁽¹⁾		1,281			5,195			—			1,281			5,195
Interest income, net		(146	)		(1,127	)		(331	)		(950	)		(3,603	)
Legal expenses and regulatory advocacy fees⁽²⁾		50			5,045			(83	)		176			5,748
Contingent consideration compensation (earn-out)⁽³⁾		339			—			333			672			—
M&A transaction costs and integration of the acquired company⁽⁴⁾		395			1,134			652			1,697			1,168
Reorganization and rebranding costs related to the sale of the Passenger business⁽⁵⁾		210			—			172			801			—
Corporate staff costs included in the sold Passenger business⁽⁶⁾		—			566			—			—			1,864
Other⁽⁷⁾		82			—			—			93			—
Adjusted EBITDA	$	9,606		$	4,214		$	7,887		$	23,903		$	7,096
Adjusted EBITDA as a percentage of revenue		13.0	%		8.5	%		10.9	%		11.2	%		5.4	%

(1) Consists of realized loss on the sale of securities of Joby Aviation received as consideration in the Passenger business divestiture, including earn-out consideration received in the current period.
(2) For the three and nine months ended September 30, 2026, includes the settlement fees related to one legal matter and legal fees relating to one specific litigation, partially offset by the reversal of a provision that had previously been adjusted in the calculation of Adjusted EBITDA. For the three months ended June 30, 2026, includes the reversal of a provision that had previously been adjusted in the calculation of Adjusted EBITDA, partially offset by legal fees relating to one specific litigation. For the three and nine months ended September 30, 2025, comprised of legal fees related to the Drulias class action lawsuit, for which the parties entered into a Stipulation of Settlement to fully resolve the matter in December 2025. We consider those matters to be non-recurring and not representative of the legal and regulatory advocacy costs typically incurred in the ordinary course of business.
(3) Represents contingent consideration in connection with the Keystone acquisition, where part of the Seller earnout was allocated to a vendor.
(4) For the three and nine months ended September 30, 2026 and 2025, and the three months ended June 30, 2026, consists of M&A transaction costs (including legal fees and professional fees related to financial, legal, and tax due diligence); and costs of integrating Keystone into a public company environment, including enterprise resource planning migration and software development costs to enhance its internally developed software to meet internal control standards.
(5) For the three and nine months ended September 30, 2026, and the three months ended June 30, 2026, consists of rebranding costs related to the decommissioning of the Blade brand and the introduction of the Strata brand; one-time reorganization costs related to the restructuring of Strata headquarters staff following the transfer of certain positions to Joby Aviation; and software application costs incurred to separate our software from the Passenger platform.
(6) Represents corporate staff costs related to employees who transferred to Joby Aviation following the sale of the Passenger business on August 29, 2025. This adjustment is intended to enhance period-to-period comparability by excluding from all periods, costs associated with transferred employees whose corporate functions were not replaced. Under U.S. GAAP (ASC 205-20), these costs were required to remain in continuing operations prior to the divestiture because they were not directly attributable to discontinued operations.
(7) Consists of non-cash realized loss from disposal of fixed assets.

RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW MEASURES
(in thousands, unaudited)

	Three Months Ended September 30, 2026
Net cash provided by operating activities	$	9,458
Capitalized software development costs		(415	)
Purchase of property and equipment, net of proceeds from disposal		(400	)
Free cash flow	$	8,643
Aircraft and engine acquisition capital expenditures⁽¹⁾		—
Free cash flow before aircraft and engine acquisitions	$	8,643

(1) Represents capital expenditures for aircraft and engine acquisitions, excluding capitalized maintenance subsequent to initial acquisition.

RECONCILIATION OF REVENUE TO PRO FORMA REVENUE
(in thousands except percentages, unaudited)

	Three Months Ended September 30,
		2026		2025	% Change
Revenue	$	74,081	$	49,298	50.3	%
Impact of OVPA, LPS and HLT-NRP acquisitions⁽¹⁾		—		4,811	NM⁽³⁾
Impact of Keystone acquisition⁽²⁾		—		14,178	NM⁽³⁾
Pro forma revenue	$	74,081	$	68,287	8.5	%

(1) Represents revenue of OVPA (acquired April 30, 2026), LPS (acquired June 2, 2026) and HLT-NRP (acquired June 22, 2026) for periods prior to their respective acquisition dates.
(2) Represents revenue of Keystone for the period prior to its acquisition on September 16, 2025.
(3) Not meaningful.

Pro forma revenue is derived from the unaudited pro forma information included in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, is not a measure of organic growth and is not necessarily indicative of the results that would have been achieved had the acquisitions occurred on those dates.

SEQUENTIAL QUARTER COMPARISON
(in thousands except percentages, unaudited)

	Three Months Ended September 30,			Three Months Ended June 30,
		2026			2026		% Change
Revenue:
Logistics	$	44,899		$	48,240		(6.9) %
Transplant Clinical		15,217			12,521		21.5	%
Other Clinical		13,965			11,745		18.9	%
Total Clinical		29,182			24,266		20.3	%
Total revenue	$	74,081		$	72,506		2.2	%
Gross profit:
Logistics ⁽¹⁾	$	9,335		$	8,888		5.0	%
Clinical ⁽²⁾		7,485			6,327		18.3	%
Total gross profit	$	16,820		$	15,215		10.5	%

Gross margin:
Logistics		20.8	%		18.4	%	240bps
Clinical		25.6	%		26.1	%	(50bps)
Total gross margin		22.7	%		21.0	%	170bps

Adjusted SG&A	$	8,926		$	9,115		(2.1) %

(1) Net of depreciation expense of $1,329 and $1,417 for the three months ended September 30, 2026 and June 30, 2026, respectively.
(2) Net of depreciation expense of $382 and $370 for the three months ended September 30, 2026 and June 30, 2026, respectively.

About Strata Critical Medical

Strata is a time-critical logistics and medical services provider to the U.S. healthcare industry. We operate one of the nation’s largest air transport and surgical services networks for transplant hospitals and organ procurement organizations, offering an integrated “one call” solution for donor organ recovery.

Strata’s core services include air and ground logistics, surgical organ recovery, organ placement and normothermic regional perfusion for the transplant industry, as well as perfusion staffing and equipment solutions for cardiovascular surgery centers.

For more information, visit www.srta.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and may be identified by the use of words such as “will”, “anticipate”, “believe”, “could”, “continue”, “expect”, “estimate”, “may”, “plan”, “outlook”, “future”, “target”, and “project” and other similar expressions and the negatives of those terms. These statements, which involve risks and uncertainties, are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to Strata’s future prospects, developments and business strategies. In particular, such forward-looking statements include statements concerning Strata’s future plans and business strategies, financial and operating performance (including the discussion of financial outlook and guidance for 2026 and beyond), acquisition opportunities, results of operations, and industry environment and growth opportunities. These statements are based on management’s current expectations and beliefs, as well as a number of assumptions concerning future events. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Strata’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include: our continued net losses or failure to achieve or maintain profitability; our ability to realize the anticipated benefits of strategic transactions, including the recently completed divestment of the Passenger business and acquisition and integration of Keystone; any future acquisitions or partnerships; harm to our reputation and brand; negative publicity, litigation, claims or regulatory scrutiny; our ability to provide high-quality customer support and maintain trusted relationships with customers; our reliance on contractual relationships with transplant centers, hospitals, Organ Procurement Organizations and strategic partners; adoption and effective utilization of our integrated clinical and logistics offerings by medical customers; competition; our dependence on the availability and utilization of organ donors and transplant volumes; insufficient reimbursement or funding for organ transport and related services; risks inherent in organ transportation operations; risks associated with ground transportation operations; advancements in preservation technology or alternative transport methods; aviation safety risks; the effects of climate change, extreme weather events or environmental developments affecting our operations; terrorist attacks, geopolitical conflict or security events affecting aviation or healthcare infrastructure; the volatility in aircraft fuel availability or cost; our ability to obtain additional capital or financing; restrictions under our credit agreement; our ability to manage our growth; insurance market conditions; our dependence on key personnel and our ability to attract and retain qualified professionals; employment-related claims, workforce litigation or labor market challenges; our ability to maintain our company culture as we grow; fluctuations in financial results and the non-comparability of historical financial statements; risks associated with purchasing aircraft or evolving from an asset-light model; risks associated with directly operating aircraft; our reliance on maintaining efficient aircraft utilization to manage costs, operating efficiency and margins; changes in regulatory frameworks; our reliance on third-party aircraft operators; the availability of sufficient third-party aircraft capacity; workforce disruptions, operations interruptions or financial difficulties affecting third-party operators or service workers; risks arising from illegal, improper, or otherwise inappropriate operation of branded aircraft by third-party operators; our reliance on third-party cloud infrastructure, hosting providers and other technology vendors; interruptions, defects, failures or vulnerabilities in our technology systems or those of third-party providers; cybersecurity incidents, data breaches or misuse of artificial intelligence technologies; our ability to protect and enforce intellectual property rights; risks associated with our use of open-source software; our operations within highly regulated environments; the impact of any litigation or regulatory investigations that we may be subject to; our ability to comply with privacy, data protection, consumer protection and security laws; the expansion of environmental regulations; our ability to maintain effective disclosure controls and procedures; and other factors beyond our control. Additional factors can be found in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, each as filed with the U.S. Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and Strata undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.

Contacts

Mathew Schneider
investors@srta.com

Posted in UncategorizedTagged GlobeNewswire

Foghorn Therapeutics to Participate in Three Upcoming Investor Conferences in November

Posted on November 3, 2026 by Ravi Shankar

WATERTOWN, Mass., Nov. 03, 2026 (GLOBE NEWSWIRE) — Foghorn^® Therapeutics Inc. (Nasdaq: FHTX), a biotechnology company pioneering a new class of medicines against challenging targets in oncology and immunology & inflammation, today announced that management will participate in the Guggenheim Third Annual Healthcare Innovation Conference, Stifel 2026 Healthcare Conference, and Jefferies 2026 London Healthcare Conference.

Guggenheim Third Annual Healthcare Innovation Conference

Fireside Chat: Tuesday, November 10, 2026, at 3:30 p.m. ET
Presenter: Adrian Gottschalk, President and Chief Executive Officer
Registration link: Register here
Management will also participate in one-on-one meetings

Stifel 2026 Healthcare Conference

Presentation: Wednesday, November 11, 2026, at 10:00 a.m. ET
Presenter: Adrian Gottschalk, President and Chief Executive Officer
Management will also participate in one-on-one meetings

Jefferies 2026 London Healthcare Conference

Fireside Chat: Monday, November 16, 2026, at 4:30 p.m. GMT
Presenter: Adrian Gottschalk, President and Chief Executive Officer
Management will also participate in one-on-one meetings

A webcast of the Guggenheim fireside chat can be accessed under “Events & Presentations” in the Investors section of the Company’s website here and will be available for 90 days.

About Foghorn Therapeutics
Foghorn^® Therapeutics is a biotechnology company developing novel medicines against challenging biological targets through multiple modalities and approaches, including oral small molecules, targeted protein degradation and induced proximity. The Company is advancing programs in oncology as well as immunology & inflammation. Foghorn brings together deep biological understanding and small-molecule drug discovery expertise to pursue challenging targets with selectivity. Visit our website at www.foghorntx.com for more information on the Company, and follow us on X and LinkedIn.

Contact:
Karin Hellsvik, Foghorn Therapeutics Inc.
khellsvik@foghorntx.com

Posted in UncategorizedTagged GlobeNewswire

MTY Announces CEO Leadership Transition

Posted on November 3, 2026 by Ravi Shankar

Mr. Victor E. Mandel, Current Board Director, Appointed Chief Executive Officer

MONTREAL, Nov. 03, 2026 (GLOBE NEWSWIRE) — MTY Food Group Inc. (“MTY” or the “Company”) (TSX: MTY), one of the largest franchisors and operators of multiple restaurant concepts worldwide, announced today that the Board of Directors of the Company has appointed Mr. Victor E. Mandel, current MTY director, as Chief Executive Officer, effective immediately, replacing Mr. Eric Lefebvre. In connection with his appointment, Mr. Mandel will step down as Chair and member of the Audit, Compensation, and Governance and Nominating committees, effective immediately.

The Company and Mr. Lefebvre have mutually agreed that Mr. Lefebvre will depart the Company and step down from the Board of Directors, effective immediately. Mr. Stanley Ma, Chairman of the Board commented: “We thank Mr. Lefebvre for his contributions to the Company during his tenure”.

Mr. Ma continued “Mr. Mandel is uniquely qualified to lead MTY through the next phase of strategic deployment and growth. Mr. Mandel is a seasoned senior leader with deep experience in the US market. With Mr. Mandel’s extensive understanding of our business, he’s already well positioned to execute on our priorities of strategically growing sales of our franchise network.”

Mr. Mandel, commented: “Through my service on the Board, I have seen the incredible dedication of our employees. I look forward to working closely with them, our management team and the Board to build on our strong brands. Our focus is on executing our asset-light value creation strategies to drive profitability, pursue growth opportunities and generate strong free cash flow. This is an opportunity to establish a new chapter for MTY, grounded in accountability, operational excellence and a clear commitment to delivering value for our shareholders. I look forward to sharing our roadmap with shareholders.”

Mr. Mandel’s experience includes work as Chairman, CFO and Director of various public companies as well as Vice President in the Investment Research Department at Goldman Sachs. Mr. Mandel has an MBA in Finance from The Wharton School as well as an undergraduate degree in Computer Science from Harvard University.

ABOUT MTY FOOD GROUP INC.

MTY Group franchises and operates quick-service, fast casual and casual dining restaurants over 80 different banners in Canada, the US and Internationally. Based in Montreal, MTY is a family whose heart beats to the rhythm of its brands, the very soul of its multi-branded strategy. For over 45 years, it has been increasing its presence by delivering new concepts of restaurants, making acquisitions, and forging strategic alliances, which have allowed it to reach new heights year after year. By combining new trends with operational know-how, the brands forming the MTY Group now touch the lives of millions of people every year. With 6,966 locations, the many flavors of the MTY Group hold the key to responding to the different tastes and needs of today’s consumers as well as those of tomorrow.

FORWARD-LOOKING STATEMENTS

Forward-looking information Certain information in this News Release may constitute “forward-looking” information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Company or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this News Release, this information may include words such as “anticipate”, “estimate”, “may”, “will”, “expect”, “believe”, “plan” and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this News Release. Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Company’s Management Discussion and Analysis, which can be found on SEDAR+’s at www.sedarplus.ca.

For more information, please contact Victor Mandel, Chief Executive Officer, at 1-514-336-8885 or by email at ir@mtygroup.com, or visit our website: www.mtygroup.com or SEDAR+’s website at www.sedarplus.com under the Company’s name.

Posted in UncategorizedTagged GlobeNewswire

Talen Energy Reports Third Quarter 2026 Results, Reaffirms 2026 Guidance, and Introduces 2027 Guidance

Posted on November 3, 2026 by Ravi Shankar

Earnings Release Highlights

Third quarter GAAP Net Income (Loss) Attributable to Stockholders of $138 million.
Third quarter Adjusted EBITDA of $669 million and Adjusted Free Cash Flow of $433 million.
Announced $1.5 billion accelerated share repurchase program (“ASR”) expected to be complete by the end of the first quarter 2027. Upsized share repurchase program (“SRP”) to $3.0 billion through December 31, 2028 (including the ASR).
Reaffirming 2026 Adjusted EBITDA and Adjusted Free Cash Flow guidance ranges to $2,050 million – $2,200 million and $1,225 million – $1,325 million, respectively.
Introducing 2027 Adjusted EBITDA and Adjusted Free Cash Flow guidance ranges of $2,500 million – $2,850 million and $1,500 million – $1,750 million, representing approximately 26% and 27% growth at the midpoints compared with 2026 guidance.

HOUSTON, Nov. 03, 2026 (GLOBE NEWSWIRE) — Talen Energy Corporation (“Talen,” “TEC,” the “Company,” “we,” or “our”) (NASDAQ: TLN), a leading independent power producer, today reported its third quarter 2026 financial results and other highlights.

“Talen delivered $669 million of Adjusted EBITDA and $433 million of Adjusted Free Cash Flow in the third quarter. With nine months behind us, we are reaffirming the midpoint and are narrowing the range of our 2026 guidance. We are also introducing our 2027 guidance that reflects strong PJM fundamentals and a full year of contributions from our recently acquired assets,” said Talen Chief Executive Officer Mac McFarland.

Talen President Terry Nutt added, “Share repurchases remain the benchmark against which we evaluate capital allocation. This quarter, we increased our share repurchase program to $3.0 billion, including a $1.5 billion accelerated share repurchase program. We have now repurchased more than one third of the shares outstanding at emergence.” He continued, “Growing demand across PJM strengthens the outlook for our fleet and supports our focus on increasing Adjusted Free Cash Flow per share over the coming years.”

Operating Results (Unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
(Millions of Dollars Unless Otherwise Stated)		2026			2025			2026			2025
GAAP Net Income (Loss) Attributable to Stockholders	$	138		$	207		$	109		$	144
Adjusted EBITDA		669			363			1,516			653
Adjusted Free Cash Flow		433			223			995			232
Total Generation (TWh)^(a)		23.9			11.1			53.5			28.1
Capacity Factor		75.4	%		56.6	%		64.3	%		47.2	%

__________________
^{(a) Total generation is net of station use consumption, where applicable. Volumes associated with acquired and sold generation facilities are presented for the periods in which Talen owned the facilities.}

For the quarter ended September 30, 2026, Talen reported GAAP Net Income (Loss) Attributable to Stockholders of $138 million, Adjusted EBITDA of $669 million, and Adjusted Free Cash Flow of $433 million. Compared with the quarter ended September 30, 2025:

GAAP Net Income (Loss) Attributable to Stockholders decreased by $(69) million primarily due to higher net income associated with the contribution of acquired generation facilities, higher settled power prices and generation volumes (net of realized hedges), and higher capacity revenues. Such amounts were outweighed by unrealized mark-to-market losses on commodity derivative contracts and an increase in interest expense associated with acquisition financings.
Adjusted EBITDA increased by $306 million primarily due to the contribution of acquired generation facilities, higher settled power prices and generation volumes (net of realized hedges), and higher capacity revenues.
Adjusted Free Cash Flow increased by $210 million primarily due to the contribution of acquired generation facilities, higher settled power prices and generation volumes (net of realized hedges), and higher capacity revenues, which were partially offset by higher cash interest payments associated with acquisition financings.

See “Non-GAAP Financial Measures” for details and reconciliations of GAAP to non-GAAP financial measures.

Reaffirming 2026 Guidance and Introducing 2027 Guidance

(Millions of Dollars)	2026E	2027E
Adjusted EBITDA	$2,050 – $2,200	$2,500 – $2,850
Adjusted Free Cash Flow	$1,225 – $1,325	$1,500 – $1,750

Upsize of SRP and ASR

In September 2026, the Board of Directors approved the upsizing of the Company’s existing SRP from $1.5 billion to an aggregate remaining capacity of $3.0 billion. Additionally, the Company entered into an ASR program, authorized under the SRP, to repurchase an aggregate of $1.5 billion of TEC common stock.

On October 1, 2026, the Company received and retired approximately 3.8 million shares of TEC common stock repurchased under the ASR program, which is equivalent to 80% of the aggregate $1.5 billion value of the ASR program. The final settlement is expected to be completed no later than the first quarter of 2027. The repurchases were funded by net proceeds of $1.3 billion from the capacity monetization and cash on hand.

During the third quarter 2026, we repurchased 600,000 shares of TEC common stock for approximately $204 million, separate from the ASR program. Upon completion of the ASR program at current prices, we will have repurchased approximately 19.5 million shares of TEC common stock for a total of approximately $4.0 billion since the start of 2024, with $1.5 billion remaining under our SRP through year end 2028. All share repurchase amounts exclude transaction costs.

PJM Capacity Monetization

On October 1, 2026, Talen closed on a capacity monetization agreement to sell rights to approximately $1.5 billion in future PJM capacity cash flows for the 2027/2028 and 2028/2029 PJM capacity years and used the net proceeds of $1.3 billion to fund the ASR.

Balance Sheet and Liquidity

We are focused on maintaining our net leverage target of 3.5x net debt-to-Adjusted EBITDA. As of October 30, 2026, Talen had total available liquidity of approximately $1.6 billion, comprised of $220 million of unrestricted cash and $1.4 billion of available capacity under the Revolving Credit Facility.

Update on Hedging Activities

As of September 30, 2026, including the impact of the Nuclear Production Tax Credit, we had hedged approximately 80% of our expected generation volumes for October – December 2026, approximately 70% for 2027 and approximately 35% for 2028. Talen’s hedging program is a key component of our comprehensive risk policy and supports the objective of increasing cash flow stability while maintaining upside optionality.

Earnings Call

Talen will hold an earnings call on Tuesday, November 3, 2026, at 8 a.m. ET (7 a.m. CT). To listen to the earnings call, please register in advance for the webcast here. For participants joining the call via phone, please register here prior to the start time to receive dial-in information. A digital replay will be archived for approximately one year and available on the Events page of Talen’s Investor Relations website linked here.

About Talen

Talen Energy (NASDAQ: TLN) is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 15.5 GW of power infrastructure in the United States, including 2.2 GW of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with generation in the Mid-Atlantic, Ohio, Indiana, and Montana. Our team is committed to generating power safely and reliably and delivering the most value per megawatt produced. Talen is also powering the digital infrastructure revolution. We are well-positioned to serve this growing industry, as artificial intelligence data centers increasingly demand more reliable power. Talen is headquartered in Houston, Texas. For more information, visit https://www.talenenergy.com/.

Investor Relations:

Bill Appicelli
Senior Vice President, Investor Relations
InvestorRelations@talenenergy.com

Media:

Taryne Williams
Director, Corporate Communications
Taryne.Williams@talenenergy.com

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this communication, or incorporated by reference into this communication, are forward-looking statements. Throughout this communication, we have attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecasts,” “goal,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” or other forms of these words or similar words or expressions or the negative thereof, although not all forward-looking statements contain these terms. Forward-looking statements address future events and conditions concerning, among other things, the leadership transition, the timing, size, completion, and impacts of the capacity monetization, ASR, and remaining SRP, capital expenditures, earnings, litigation, regulatory matters, hedging, liquidity and capital resources, accounting matters, expectations, beliefs, plans, objectives, goals, strategies, future events or performance, shareholder returns and underlying assumptions. Forward-looking statements are subject to substantial risks and uncertainties that could cause our future business, financial condition, results of operations or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this communication. All of our forward-looking statements include assumptions underlying or relating to such statements that may cause actual results to differ materially from expectations and are subject to numerous factors that present considerable risks and uncertainties.

TALEN ENERGY CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	Three Months Ended September 30,						Nine Months Ended September 30,
(Millions of Dollars, except share data)		2026			2025			2026			2025
Energy and other revenues	$	1,187		$	604		$	2,943		$	1,552
Capacity revenues		323			166			767			303
Unrealized gain (loss) on derivative instruments		(183	)		42			(507	)		(23	)
Operating Revenues		1,327			812			3,203			1,832
Fuel and energy purchases		(626	)		(259	)		(1,546	)		(677	)
Nuclear fuel amortization		(27	)		(27	)		(73	)		(71	)
Unrealized gain (loss) on derivative instruments		(7	)		(6	)		(48	)		(31	)
Energy Expenses		(660	)		(292	)		(1,667	)		(779	)
Operating Expenses
Operation, maintenance and development		(167	)		(131	)		(542	)		(469	)
General and administrative (Includes stock-based compensation of $(51), $(15), $(120) and $(42))		(76	)		(38	)		(198	)		(113	)
Depreciation, amortization and accretion		(157	)		(61	)		(352	)		(205	)
Other operating income (expense), net		(12	)		(27	)		(51	)		(43	)
Operating Income (Loss)		255			263			393			223
Nuclear decommissioning trust funds gain (loss), net		18			81			130			149
Interest expense and other finance charges		(148	)		(67	)		(481	)		(203	)
Gain (loss) on sale of assets, net		66			25			69			36
Other non-operating income (expense), net		4			2			36			9
Income (Loss) Before Income Taxes		195			304			147			214
Income tax benefit (expense)		(57	)		(97	)		(38	)		(70	)
Net Income (Loss) Attributable to Stockholders	$	138		$	207		$	109		$	144
Per Common Share
Net Income (Loss) Attributable to Stockholders – Basic	$	2.90		$	4.52		$	2.35		$	3.15
Net Income (Loss) Attributable to Stockholders – Diluted	$	2.88		$	4.25		$	2.33		$	2.96
Weighted-Average Number of Common Shares Outstanding – Basic (in thousands)		47,625			45,684			46,388			45,694
Weighted-Average Number of Common Shares Outstanding – Diluted (in thousands)		47,973			48,582			46,757			48,588

TALEN ENERGY CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(Millions of Dollars, except share data)	September 30, 2026			December 31, 2025
Assets
Cash and cash equivalents	$	335		$	689
Restricted cash and cash equivalents		14			63
Accounts receivable		304			196
Inventory, net		316			278
Derivative instruments		122			56
Other current assets		61			67
Total current assets		1,152			1,349
Property, plant and equipment, net		11,858			7,546
Nuclear decommissioning trust funds		1,976			1,900
Derivative instruments		9			4
Other noncurrent assets		92			106
Total Assets	$	15,087		$	10,905
Liabilities and Equity
Long-term debt, due within one year	$	29		$	29
Accrued interest		169			60
Accounts payable and other accrued liabilities		391			281
Derivative instruments		617			101
Stock-based compensation liabilities		2			501
Other current liabilities		82			78
Total current liabilities		1,290			1,050
Long-term debt		9,540			6,782
Derivative instruments		243			67
Postretirement benefit obligations		203			229
Asset retirement obligations and accrued environmental costs		500			494
Deferred income taxes		938			486
Acquired contract liabilities		734			662
Other noncurrent liabilities		36			42
Total Liabilities	$	13,484		$	9,812
Commitments and Contingencies
Stockholders’ Equity
Common stock ($0.001 par value, 350,000,000 shares authorized)^(a)	$	—		$	—
Additional paid-in capital		2,562			1,709
Accumulated retained earnings (deficit)		(947	)		(612	)
Accumulated other comprehensive income (loss)		(35	)		(4	)
Total Stockholders’ Equity		1,580			1,093
Noncontrolling interests		23			—
Total Equity		1,603			1,093
Total Liabilities and Stockholders’ Equity	$	15,087		$	10,905

__________________
^{(a) 47,316,772 and 45,687,828 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively.}

TALEN ENERGY CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
	Nine Months Ended September 30,
(Millions of Dollars)		2026			2025
Operating Activities
Net Income (Loss)	$	109		$	144
Non-cash reconciliation adjustments:
Unrealized (gains) losses on derivative instruments		535			68
Depreciation, amortization and accretion		285			208
Nuclear decommissioning trust funds (gain) loss, net (excluding interest and fees)		(88	)		(112	)
Nuclear fuel amortization		73			71
Deferred income taxes		14			44
Stock-based compensation		120			42
(Gain) loss on sales of assets, net		(66	)		(36	)
Other		30			38
Changes in assets and liabilities:
Accounts receivable		(70	)		(57	)
Inventory, net		(14	)		35
Other assets		23			202
Accounts payable and accrued liabilities		61			(91	)
Accrued interest		109			36
Collateral received (posted), net		(68	)		(7	)
Cash settlement of stock-based awards		(500	)		—
Other liabilities		(63	)		(161	)
Net cash provided by (used in) operating activities		490			424
Investing Activities
Property, plant and equipment expenditures		(348	)		(72	)
Nuclear fuel expenditures		(101	)		(94	)
Nuclear decommissioning trust funds investment purchases		(564	)		(1,852	)
Nuclear decommissioning trust funds investment sale proceeds		530			1,827
Cornerstone Acquisition, net		(2,569	)		—
Proceeds from the sale of assets		73			40
Other		16			(5	)
Net cash provided by (used in) investing activities		(2,963	)		(156	)
Financing Activities
Debt issuances		4,000			—
Debt repayments		(1,222	)		(13	)
Deferred financing costs		(59	)		(29	)
Revolving credit facility borrowings		500			75
Revolving credit facility repayments		(500	)		(75	)
Share repurchases		(502	)		(103	)
Tax payments related to net-settled stock-based awards		(141	)		—
Other		(6	)		9
Net cash provided by (used in) financing activities		2,070			(136	)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents		(403	)		132
Beginning of period cash and cash equivalents and restricted cash and cash equivalents		752			365
End of period cash and cash equivalents and restricted cash and cash equivalents	$	349		$	497

Non-GAAP Financial Measures

Adjusted EBITDA and Adjusted Free Cash Flow, which we use as measures of our performance and liquidity, are not financial measures prepared under GAAP. Non-GAAP financial measures do not have definitions under GAAP and may be defined and calculated differently by, and not be comparable to, similarly titled measures used by other companies. Non-GAAP measures are not intended to replace the most comparable GAAP measures as indicators of performance. Generally, a non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that excludes (or includes) amounts that are included in (or excluded from) the most directly comparable measure calculated and presented in accordance with GAAP. Management cautions readers not to place undue reliance on the following non-GAAP financial measures, but to also consider them along with their most directly comparable GAAP financial measures. Non-GAAP measures have limitations as analytical tools and should not be considered in isolation or as a substitute for analyzing our results as reported under GAAP.

Adjusted EBITDA

We use Adjusted EBITDA to: (i) assist in comparing operating performance and readily view operating trends on a consistent basis from period to period without certain items that may distort financial results; (ii) plan and forecast overall expectations and evaluate actual results against such expectations; (iii) communicate with our Board of Directors, shareholders, creditors, analysts, and the broader financial community concerning our financial performance; (iv) set performance metrics for our annual short-term incentive compensation; and (v) assess compliance with our indebtedness.

Adjusted EBITDA is computed as net income (loss) adjusted, among other things, for certain: (i) nonrecurring charges; (ii) non-recurring gains; (iii) non-cash and other items; (iv) unusual market events; (v) any depreciation, amortization, or accretion; (vi) mark-to-market gains or losses; (vii) gains and losses on the nuclear facility decommissioning trust (“NDT”); (viii) gains and losses on asset sales, dispositions, and asset retirement; (ix) impairments, obsolescence, and net realizable value charges; (x) interest expense; (xi) income taxes; (xii) legal settlements, liquidated damages, and contractual terminations; (xiii) development expenses; (xiv) noncontrolling interests, except where otherwise noted; and (xv) other adjustments. Such adjustments are computed consistently with the provisions of our indebtedness to the extent that they can be derived from the financial records of the business.

Additionally, we believe investors commonly adjust net income (loss) information to eliminate the effect of nonrecurring restructuring expenses and other non-cash charges, which can vary widely from company to company and from period to period and impair comparability. We believe Adjusted EBITDA is useful to investors and other users of our financial statements to evaluate our operating performance because it provides an additional tool to compare business performance across companies and between periods. Adjusted EBITDA is widely used by investors to measure a company’s operating performance without regard to such items described above. These adjustments can vary substantially from company to company and period to period depending upon accounting policies, book value of assets, capital structure, and the method by which assets were acquired.

Adjusted Free Cash Flow

Adjusted Free Cash Flow is utilized by our chief operating decision makers to evaluate cash flow activities. Adjusted Free Cash Flow is computed as Adjusted EBITDA reduced by capital expenditures (including nuclear fuel but excluding development, growth, and (or) conversion capital expenditures), cash payments for interest and finance charges, cash payments for income taxes (excluding income taxes paid from the NDT, taxes paid or deductions taken as a result of strategic asset sales, and benefits of the Nuclear PTC utilized to reduce income taxes paid), and pension contributions.

We believe Adjusted Free Cash Flow is useful to investors and other users of our financial statements in evaluating our operating performance because it provides them with an additional tool to determine a company’s ability to meet future obligations and to compare business performance across companies and across periods. Adjusted Free Cash Flow is widely used by investors to measure a company’s levered cash flow without regard to items such as ARO settlements; nonrecurring development, growth and conversion expenditures; and cash proceeds or payments for the sale or purchase of assets, which can vary substantially from company to company and from period to period depending upon accounting methods, book value of assets, capital structure, and the method by which assets were acquired.

Adjusted EBITDA / Adjusted Free Cash Flow Reconciliation

The following table presents a reconciliation of the GAAP financial measure of “Net Income (Loss)” presented on the Consolidated Statements of Operations to the non-GAAP financial measures of Adjusted EBITDA and Adjusted Free Cash Flow:

	Three Months Ended September 30,						Nine Months Ended September 30,
(Millions of Dollars)		2026			2025			2026			2025
Net Income (Loss)	$	138		$	207		$	109		$	144
Adjustments
Interest expense and other finance charges		148			67			481			203
Income tax (benefit) expense		57			97			38			70
Depreciation, amortization and accretion^(a)		122			61			273			198
Nuclear fuel amortization^(a)		27			27			73			71
Unrealized (gain) loss on commodity derivative contracts		190			(36	)		555			54
Nuclear decommissioning trust funds (gain) loss, net		(18	)		(81	)		(130	)		(149	)
Stock-based and other long-term incentive compensation expense		54			18			127			49
(Gain) loss on asset sales, net		(66	)		(25	)		(69	)		(36	)
Non-cash impairments and other charges		1			1			2			11
Acquisition and divestiture activities^(b)		2			8			39			12
Operational and other restructuring activities		4			3			11			6
Other		10			16			7			20
Total Adjusted EBITDA	$	669		$	363		$	1,516		$	653
Capital expenditures, net		(77	)		(65	)		(200	)		(164	)
Interest and finance charge payments		(149	)		(36	)		(303	)		(143	)
Income taxes		(1	)		—			5			(51	)
Pension contributions		(9	)		(39	)		(23	)		(63	)
Total Adjusted Free Cash Flow	$	433		$	223		$	995		$	232

_______________
^{(a) Includes the periodic amortization of fair value adjustments associated with acquired fuel supply contract liabilities and intangible assets.}
^{(b) Includes the non-recurring: (i) advisory fees associated with completed acquisitions and divestitures; (ii) remaining settlements on contracts of divested assets; and (iii) non-recurring finance fees charged to the Consolidated Statement of Operations associated with acquisition financing fee arrangements.}

Adjusted EBITDA / Adjusted Free Cash Flow Reconciliation: 2026E and 2027E Guidance

	2026E						2027E
(Millions of Dollars)	Low			High			Low			High
Net Income (Loss)	$	960		$	1,080		$	1,105		$	1,405
Adjustments
Interest expense and other finance charges		460			480			585			615
Income tax (benefit) expense		15			25			50			70
Depreciation, amortization and accretion		515			515			650			650
Nuclear fuel amortization		100			100			110			110
Adjusted EBITDA	$	2,050		$	2,200		$	2,500		$	2,850
Capital expenditures, net	$	(325	)	$	(335	)	$	(355	)	$	(385	)
Interest and finance charge payments		(460	)		(480	)		(585	)		(615	)
Income taxes		(15	)		(25	)		(50	)		(70	)
Pension contributions		(25	)		(35	)		(10	)		(30	)
Adjusted Free Cash Flow	$	1,225		$	1,325		$	1,500		$	1,750

_______________
^{Note: Figures are rounded to the nearest $5 million.}

Posted in UncategorizedTagged GlobeNewswire

Parabilis Medicines to Participate in Upcoming November Investor Conferences

Posted on November 3, 2026 by Ravi Shankar

CAMBRIDGE, Mass., Nov. 03, 2026 (GLOBE NEWSWIRE) — Parabilis Medicines (Nasdaq: PBLS), a clinical-stage biopharmaceutical company dedicated to creating extraordinary medicines for patients with serious diseases by unlocking historically undruggable targets, today announced that Mathai Mammen, M.D., Ph.D., Chairman, CEO and President of Parabilis Medicines, and other members of its management team, are scheduled to participate in the following investor conferences in November:

Guggenheim Healthcare Innovation Conference
November 9-11, 2026, Boston, MA
Fireside Chat: Monday, November 9, 2026, at 8:30 a.m. EST

Jefferies Global Healthcare Conference
November 16-19, 2026, London, UK
Company Presentation: Monday, November 16, 2026, at 12:30 p.m. GMT / 7:30 a.m. EST

Evercore ISI 9^th Annual Healthcare Conference
November 30 – December 2, 2026, Miami, FL
Fireside Chat: Monday, November 30, 2026, at 3:50 p.m. EST

Live webcasts of the fireside chats and company presentation will be available in the Investors section of the Company’s website at investors.parabilismed.com. Replays of the webcasts will be available following the events.

About Parabilis Medicines
Parabilis Medicines (Nasdaq: PBLS) is a clinical-stage biopharmaceutical company dedicated to creating extraordinary medicines for patients with serious diseases by unlocking biologically important targets long considered undruggable. The company has pioneered a new class of alpha-helical peptides – Helicons™ – capable of modulating intracellular proteins that have historically been beyond the reach of conventional medicines. The company’s lead investigational medicine, zolucatetide, is the first and only direct inhibitor of the β-catenin:TCF interaction, a central node in the Wnt/β-catenin pathway that has eluded drug developers for decades. Zolucatetide is being evaluated in the clinic across multiple Wnt/β-catenin-driven diseases, including desmoid tumors, familial adenomatous polyposis (FAP), adamantinomatous craniopharyngioma (ACP), hepatocellular carcinoma (HCC) and a range of other rare and common solid tumor indications. Beyond zolucatetide, Parabilis is pursuing a follow-on β-catenin degrader program and advancing additional Helicon-based programs focused on other challenging targets, including ERG and allosteric AR^ONin prostate cancer, where we believe our medicines could have life-altering impact. For more information, visit www.parabilismed.com or follow us on LinkedIn.

Contacts
Media Contact
Jessica Freifeld
media@parabilismed.com

Investor Contact
Tom Kotarakos
investors@parabilismed.com

Posted in UncategorizedTagged GlobeNewswire

Opus Genetics to Present at the Guggenheim Annual Healthcare Innovation Conference

Posted on November 3, 2026 by Ravi Shankar

RESEARCH TRIANGLE PARK, N.C., Nov. 03, 2026 (GLOBE NEWSWIRE) — Opus Genetics, Inc. (Nasdaq: IRD) (“Opus Genetics” or the “Company”), a clinical-stage biopharmaceutical company developing gene therapies to restore vision and prevent blindness in patients with inherited retinal diseases (IRDs), announced today that management will participate in a Fireside Chat at the Guggenheim Annual Healthcare Innovation Conference on Tuesday, November 10, 2026 at 11:00 a.m. ET.

A link to the live and archived webcast may be accessed on Opus Genetics’ website under the Investors section: Events.

About Opus Genetics

Opus Genetics is a clinical-stage biopharmaceutical company developing gene therapies to restore vision and prevent blindness in patients with inherited retinal diseases (IRDs). The Company is developing one-time treatments designed to address the underlying genetic causes of severe retinal disorders. The Company’s pipeline includes seven AAV-based programs, led by OPGx-LCA5 for LCA5-related mutations and OPGx-BEST1 for BEST1-related retinal degeneration, with OPGx-RDH12 cleared to enter the clinic, and additional candidates targeting, MERTK, RHO, CNGB1 and NMNAT1. The Company is based in Research Triangle Park, N.C. For more information, visit www.opusgtx.com.

Contacts:

Investors
Jenny Kobin
Remy Bernarda
IR Advisory Solutions
ir@opusgtx.com

Media
Kimberly Ha
KKH Advisors
917-291-5744
kimberly.ha@kkhadvisors.com

Source: Opus Genetics, Inc.

Posted in UncategorizedTagged GlobeNewswire

Cartesian Therapeutics Announces New Employment Inducement Grant

Posted on November 3, 2026 by Ravi Shankar

FREDERICK, Md., Nov. 03, 2026 (GLOBE NEWSWIRE) — Cartesian Therapeutics, Inc. (NASDAQ: RNAC) (the “Company”), a late clinical-stage biotechnology company pioneering cell therapy for autoimmune diseases, today announced the granting of an inducement award to one new employee. On November 2, 2026, the Company issued to this employee an option to purchase an aggregate of 50,000 shares of the Company’s common stock with an exercise price of $6.34, the closing trading price of the Company’s common stock on the Nasdaq Global Market on the date of grant. The option was granted pursuant to the Company’s Amended and Restated 2018 Employment Inducement Incentive Award Plan and was approved by the Company’s board of directors. The option vests as to 25% on November 2, 2027, and then in thirty-six substantially equal monthly installments thereafter such that the option will be fully vested on November 2, 2030. The option has a ten-year term. The option was granted under Rule 5635(c)(4) of the Nasdaq Listing Rules as an inducement material to the employee’s entry into employment with the Company.

About Cartesian Therapeutics

Cartesian Therapeutics is a late clinical-stage company pioneering cell therapy for the treatment of autoimmune diseases. The Company’s lead asset, Descartes-08, is a CAR-T in Phase 3 clinical development for patients with generalized myasthenia gravis, Phase 2 clinical development in myositis, specifically dermatomyositis and antisynthetase syndrome, and in Phase 1/2 clinical development for pediatric autoimmune diseases, including juvenile dermatomyositis. For more information, please visit www.cartesiantherapeutics.com or follow the Company on LinkedIn or X.

Contact Information:
Investor Contact:
Megan LeDuc
Associate Director, Investor Relations
megan.leduc@cartesiantx.com

Media Contact:
David Rosen
Argot Partners
david.rosen@argotpartners.com

Posted in UncategorizedTagged GlobeNewswire

ProMIS Neurosciences to Report Third Quarter 2026 Financial Results and Business Update on November 12, 2026

Posted on November 3, 2026 by Ravi Shankar

Company to host investor conference call and webcast at 4:30 p.m. ET.

Cambridge, Massachusetts, Nov. 03, 2026 (GLOBE NEWSWIRE) — ProMIS Neurosciences Inc. (Nasdaq: PMN), a clinical-stage biotechnology company developing antibody therapeutics and vaccines targeting toxic misfolded proteins in neurodegenerative diseases, today announced it will report financial results for the third quarter ended September 30, 2026, and provide corporate updates on November 12, 2026. The company will host a conference call and webcast on the same day at 4:30 p.m. ET.

Conference Call and Webcast Information:

Date:	November 12, 2026
Time:	4:30 p.m. Eastern Time
Dial-in:	1-877-407-9208 (U.S. Investors) 1-201-493-6784 (International)
Conference I.D.:	13762779
CallMe^TM:	Click Here
Webcast:	Click Here

A replay of the webcast will be available in the Investors section of the ProMIS website following the completion of the call.

ProMIS has also published an investor Q&A outlining the scientific rationale that differentiates PMN310 from other amyloid-targeting approaches, available in the Investors section of the ProMIS website: PMN310 Scientific and Clinical Update (November 2026).

About ProMIS Neurosciences Inc.

ProMIS Neurosciences is a clinical-stage biotechnology company committed to the discovery and development of therapeutic antibodies and vaccines selective for toxic oligomers associated with the development and progression of neurodegenerative and other misfolded protein diseases. The Company’s proprietary target discovery engine, EpiSelect™, has been shown to predict novel targets known as Disease Specific Epitopes (DSEs) on the molecular surface of misfolded proteins that cause neurodegenerative and other misfolded protein diseases, including Alzheimer’s disease (AD), amyotrophic lateral sclerosis (ALS), frontotemporal dementia (FTD), multiple system atrophy (MSA), and Parkinson’s disease (PD). ProMIS’ lead asset in Phase 1b development, PMN310, is a humanized IgG1 monoclonal antibody designed to selectively target only the toxic oligomers of amyloid-beta (AβOs), believed to be among the earliest and most damaging drivers of Alzheimer’s disease, while avoiding binding to amyloid plaques and vascular deposits. ProMIS has offices in Cambridge, Massachusetts (USA) and Toronto, Ontario (CAN).

Investor Relations Contact
Carie Pierce
VP Investor Relations & External Affairs
IR@ProMISNeurosciences.com

Media Contact
Maggie Whitney
LifeSci Communications
mwhitney@lifescicomms.com

For further information:
Visit us at www.promisneurosciences.com

Posted in UncategorizedTagged GlobeNewswire