Bavarian Nordic Receives USD 22.5 Million Contract for its Mpox and Smallpox Vaccine from the Government of Canada




Bavarian Nordic Receives USD 22.5 Million Contract for its Mpox and Smallpox Vaccine from the Government of Canada

COPENHAGEN, Denmark, February 18, 2026 – Bavarian Nordic A/S (OMX: BAVA) today announced a new order valued at USD 22.5 million from the Public Health Agency of Canada (PHAC) for the Company’s mpox and smallpox vaccine, MVA-BN^®.

This order, awarded under the existing 10-year contract framework established with PHAC in 2022, will ensure manufacturing of bulk vaccine product in 2026, with filling and supply of the final drug product to occur later.

With this award, Bavarian Nordic has now secured orders in its Public Preparedness business in 2026 for approximately DKK 1,400 million, an increase of DKK 100 million compared to latest communication. The full-year guidance for this business in 2026 remains unchanged at DKK 1,800-2,000 million.

“Public preparedness has remained a high priority in Canada for years, and we are proud to continue to support the government’s commitment to protecting its citizens against serious health threats, like mpox and smallpox,” said Paul Chaplin, President & CEO of Bavarian Nordic. “It is our aim to build and strengthen collaborations like this, as we have also done for decades with the US government through BARDA, and more recently with the EU through HERA, to facilitate a stronger public health response as a critical part of the defense against viral threats globally.”

About the mpox/smallpox vaccine
MVA-BN or Modified Vaccinia Ankara-Bavarian Nordic is the only non-replicating mpox vaccine approved in the U.S., Switzerland, Singapore and Mexico (marketed as JYNNEOS^®), Canada (marketed as IMVAMUNE^®), and the EU/EAA and United Kingdom (marketed as IMVANEX^®). Originally developed as a smallpox vaccine in collaboration with the U.S. government to ensure the supply of a smallpox vaccine for the entire population, including immunocompromised individuals who are not recommended vaccination with traditional replicating smallpox vaccines, MVA-BN has been indicated for use in the general population in individuals considered at risk for smallpox or mpox infection.

About Bavarian Nordic
Bavarian Nordic is a global vaccine company with a mission to improve health and save lives through innovative vaccines. We are a preferred supplier of mpox and smallpox vaccines to governments to enhance public health preparedness and have a leading portfolio of travel vaccines. For more information, visit www.bavarian-nordic.com.

Contact investors:
Europe: Disa Tuominen, IR Manager, detu@bavarian-nordic.com
US: Graham Morrell, Gilmartin Group, graham@gilmartinir.com, Tel: +1 781 686 9600

Contact media:
Nicole Seroff, Vice President Corporate Communications, nise@bavarian-nordic.com, Tel: +45 53 88 06 03

Attachment

• Bavarian Nordic Receives USD 22.5 Million Contract for its Mpox and Smallpox Vaccine from the Government of Canada

Zealand Pharma announces positive Phase 1a topline results with Kv1.3 channel blocker ZP9830




Zealand Pharma announces positive Phase 1a topline results with Kv1.3 channel blocker ZP9830

Press release – No. 4 / 2026

Zealand Pharma announces positive Phase 1a topline results with Kv1.3 channel blocker ZP9830

• Single doses of ZP9830 were well tolerated, with no serious or severe adverse events or dose-limiting safety findings observed at any dose level
• ZP9830 exhibited a pharmacokinetic profile in line with predictions based on preclinical data, and exploratory pharmacodynamic biomarkers showed robust, dose-dependent activity consistent with Kv1.3 target engagement
• ZP9830 is a highly potent and selective Kv1.3 channel blocker with potential to address a broad range of immune-mediated inflammatory disorders
• Development program is progressing rapidly and as planned, with Phase 1a multiple ascending dose data and Phase 1b/2a initiation expected in H2 2026

Copenhagen, Denmark, February 18, 2026 – Zealand Pharma A/S (Nasdaq: ZEAL) (CVR-no. 20045078), a biotechnology company transforming the future of metabolic health, today announced positive Phase 1a single ascending dose (SAD) topline results for the company’s Kv1.3 channel blocker, ZP9830. The first-in-human, single-center, randomized, double-blind, placebo-controlled, SAD part of the combined SAD/multiple ascending dose (MAD) Phase 1a trial was designed to evaluate safety, tolerability, pharmacokinetics (PK), and pharmacodynamics (PD) of ZP9830 following administration to healthy male participants.

ZP9830 was well tolerated in this single ascending dose trial, with no dose-limiting safety findings or other safety concerns observed. All treatment-emergent adverse events (TEAEs) were non-serious and mild in severity. No clinically relevant safety findings were observed in vital signs, 12-lead electrocardiogram (ECG) recordings, physical examinations, or safety laboratory parameters. PK parameters increased in a dose-proportional manner across the investigated dose range, and data from the intravenous cohort indicated a very high bioavailability of the subcutaneous formulation.

“We are very pleased with the Phase 1a single ascending dose results, which demonstrated favorable safety and tolerability, and a PK/PD profile consistent with our expectations for a highly differentiated, immunological therapy with a novel mechanism of action,” said David Kendall, MD, Chief Medical Officer of Zealand Pharma. “Importantly, these data also underscore the strength of Zealand Pharma’s proprietary peptide engineering capabilities in addressing historically challenging targets and further reinforce our confidence in ZP9830 as a promising Kv1.3 channel blocker with potential in multiple autoimmune and inflammatory diseases with unmet medical need.”

About the Phase 1a trial
The first-in-human single ascending dose (SAD) part of the combined SAD/multiple ascending dose (MAD) Phase 1a trial (ClinicalTrials.gov ID: NCT06682975) was conducted in healthy male participants to investigate the effects of single ascending doses of ZP9830 administered subcutaneously across a wide dose range, as well as intravenously at one dose level. The main objectives were to assess safety, tolerability, and pharmacokinetics, with proof of mechanism as an additional exploratory objective. The SAD part of the trial included a suitable pharmacological model to explore immunomodulatory activity and provide early confirmation that ZP9830 affects immune cell biology as intended. The MAD part of this Phase 1a trial is ongoing and is evaluating the effects associated with extended exposure to ZP9830.

About ZP9830
ZP9830 is a potent and selective Kv1.3 channel blocker with the potential to treat a broad range of immune-mediated inflammatory diseases. Kv1.3 is a potassium ion channel that is selectively upregulated on effector memory T cells, which play a central role in autoimmunity and chronic inflammation through the release of pro-inflammatory cytokines that drive tissue damage.

The anti-inflammatory effects of Kv1.3 channel blockade have been demonstrated in preclinical models of immunological disorders. The selective expression of Kv1.3 on effector memory T cells makes it an attractive therapeutic target, as inhibition is expected to preserve the protective functions of the broader immune system.

About Zealand Pharma A/S
Zealand Pharma A/S (Nasdaq: ZEAL) is a biotechnology company focused on advancing medicines for obesity and metabolic health. Combining more than 25 years of peptide R&D expertise with a proprietary data platform that leverages advanced data‑driven and AI/ML approaches, Zealand Pharma aims to lead a new era in obesity and metabolic health.

To date, more than ten Zealand Pharma‑invented drug candidates have entered clinical development, of which two products have reached the market and three candidates are in late-stage development. The Company has collaborations with global pharmaceutical and biotechnology partners for research, development, and commercialization.
Founded in 1998, Zealand Pharma is headquartered in Copenhagen, Denmark, with a U.S. presence in Boston, Massachusetts. Learn more at www.zealandpharma.com.

Forward-looking statements
This press release contains “forward-looking statements”, as that term is defined in the Private Securities Litigation Reform Act of 1995 in the United States, as amended, even though no longer listed in the United States this is used as a definition to provide Zealand Pharma’s expectations or forecasts of future events regarding the research, development and commercialization of pharmaceutical products, the timing of the company’s pre-clinical and clinical trials and the reporting of data therefrom. These forward-looking statements may be identified by words such as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “plan,” “possible,” “potential,” “will,” “would” and other words and terms of similar meaning. You should not place undue reliance on these statements, or the scientific data presented. The reader is cautioned not to rely on these forward-looking statements. Such forward-looking statements are subject to risks, uncertainties and inaccurate assumptions, which may cause actual results to differ materially from expectations set forth herein and may cause any or all of such forward-looking statements to be incorrect, and which include, but are not limited to, unexpected costs or delays in clinical trials and other development activities due to adverse safety events, patient recruitment or otherwise; unexpected concerns that may arise from additional data, analysis or results obtained during clinical trials; our ability to successfully market both new and existing products; changes in reimbursement rules and governmental laws and related interpretation thereof; government-mandated or market-driven price decreases for our products; introduction of competing products; production problems at third party manufacturers; dependency on third parties, for instance contract research or development organizations; unexpected growth in costs and expenses; our ability to affect the strategic reorganization of our businesses in the manner planned; failure to protect and enforce our data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; regulatory authorities may require additional information or further studies, or may reject, fail to approve or may delay approval of our drug candidates or expansion of product labeling; failure to obtain regulatory approvals in other jurisdictions; exposure to product liability and other claims; interest rate and currency exchange rate fluctuations; unexpected contract breaches or terminations; inflationary pressures on the global economy; and political uncertainty. If any or all of such forward-looking statements prove to be incorrect, our actual results could differ materially and adversely from those anticipated or implied by such statements. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. All such forward-looking statements speak only as of the date of this company announcement and are based on information available to Zealand Pharma as of the date of this announcement. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Information concerning pharmaceuticals (including compounds under development) contained within this material is not intended as advertising or medical advice.

Contacts
Adam Lange (Investors)
Vice President, Investor Relations
Zealand Pharma
alange@zealandpharma.com

Neshat Ahmadi (Investors)
Investor Relations Manager
Zealand Pharma
neahmadi@zealandpharma.com

Rachel James-Owens (Media)
Vice President, Corporate Communications and Media Relations
Zealand Pharma
RjamesOwens@zealandpharma.com

Amber Fennell, Jessica Hodgson, Sean Leous (Media)
ICR Healthcare
ZealandPharma@icrhealthcare.com
+44 (0) 7739 658 783

Novartis remibrutinib first therapy to achieve Phase III primary endpoint in chronic inducible urticaria (CIndU)




Novartis remibrutinib first therapy to achieve Phase III primary endpoint in chronic inducible urticaria (CIndU)

• Statistically significant and clinically meaningful results seen in RemIND trial with complete responses achieved in 3 CIndU types¹
• Remibrutinib, a highly selective oral BTK inhibitor, was well-tolerated and demonstrated a favorable safety profile, including no liver safety concerns¹
• Oral remibrutinib has potential to be first targeted therapy approved for CIndU, which affects estimated 29 million adults worldwide^2,3

Basel, February 18, 2026 – Novartis today announced positive topline results from its pivotal Phase III RemIND trial of oral remibrutinib in chronic inducible urticaria (CIndU)¹. The primary endpoint was met for the three most prevalent types of CIndU: symptomatic dermographism, cold urticaria and cholinergic urticaria, achieving significantly higher complete response rates versus placebo at Week 12¹. These data represent an important advance in the treatment of CIndU, demonstrating the potential of remibrutinib to be the first targeted therapy for CIndU and address a major unmet need.

“The positive RemIND trial results across three different types of CIndU underscore the potential of oral remibrutinib to achieve complete symptom relief for people living with CIndU and build on its recent FDA approval in chronic spontaneous urticaria (CSU),” said Angelika Jahreis, Global Head, Immunology Development, Novartis. “Today’s findings reinforce that remibrutinib could be the first targeted therapy to improve spontaneous and inducible forms of chronic urticaria, helping address a major gap in care for people living with these conditions.”

Novartis has submitted a supplemental New Drug Application (sNDA) to the U.S. Food and Drug Administration (FDA) seeking approval of remibrutinib for the treatment of symptomatic dermographism, the most prevalent type of CIndU. In the coming months, the full data set will be submitted to health authorities globally, and the RemIND trial findings will be presented in upcoming medical congresses.

About remibrutinib
Remibrutinib is a highly selective, oral BTK inhibitor that blocks the BTK pathway involved in the release of histamine, a key driver of hives (wheals) and swelling^4–6. By reducing histamine release, remibrutinib helps relieve the symptoms of CIndU^1,7. In the US and China, remibrutinib is approved for the treatment of adult patients with CSU who have an inadequate response to H1-antihistamines, under the brand name Rhapsido^®. Remibrutinib is being investigated in other immune-mediated conditions, such as hidradenitis suppurativa (HS) and food allergy, in addition to other indications in the company’s Neuroscience portfolio^8–11.

About RemIND trial
The RemIND trial (NCT05976243) is a global Phase III, multicenter, randomized, double-blind, placebo-controlled, parallel-group study evaluating the efficacy, safety, and tolerability of remibrutinib in adults with CIndU inadequately controlled by H1-antihistamines¹². The primary endpoint of RemIND is the proportion of complete responders at Week 12 assessed through provocation tests specific to three CIndU subtypes¹².

About Chronic Inducible Urticaria (CIndU)
CIndU is a chronic skin condition affecting an estimated 0.5 percent of the population or 29 million people worldwide^2,3. It is a form of chronic urticaria characterized by hives and/or swelling, with identifiable external triggers, like pressure, sunlight, friction, heat, cold or water¹³. CIndU differs from chronic spontaneous urticaria (CSU), which has no specific triggers¹⁴. CIndU places a significant burden on daily life, with many patients cycling through antihistamines without adequate relief¹⁵. With no approved targeted therapies available today, there remains a clear and longstanding gap in effective treatment options for these patients^15,16.

The most prevalent CIndU subtypes are symptomatic dermographism, cold urticaria, and cholinergic urticaria¹⁷. Symptomatic dermographism manifests with itchy hives caused by shear force on skin, such as friction or light scratching, which appear in less than 5 minutes after contact and usually last 30 minutes¹³. Cold urticaria occurs after skin exposure to cold, leading to wheals or angioedema that develop within minutes after exposure and are usually limited to exposed areas¹³. Cholinergic urticaria manifests with characteristic small, punctate hives triggered by active or passive heating of the body, including exercise, strong emotions, or bathing in hot water ¹³. 

About Novartis Immunology
At Novartis, we’re advancing bold science with the goal of bringing relief and a renewed sense of hope to people living with autoimmune diseases. Building on our legacy of first-in-class innovation across rheumatology, dermatology and allergy, and a diverse industry-leading pipeline, we’re committed to shaping what’s next in Immunology.

Disclaimer
This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as “potential,” “can,” “will,” “plan,” “may,” “could,” “would,” “expect,” “anticipate,” “look forward,” “believe,” “committed,” “investigational,” “pipeline,” “launch,” or similar terms, or by express or implied discussions regarding potential marketing approvals, new indications or labeling for the investigational or approved products described in this press release, or regarding potential future revenues from such products. You should not place undue reliance on these statements. Such forward-looking statements are based on our current beliefs and expectations regarding future events, and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that the investigational or approved products described in this press release will be submitted or approved for sale or for any additional indications or labeling in any market, or at any particular time. Nor can there be any guarantee that such products will be commercially successful in the future. In particular, our expectations regarding such products could be affected by, among other things, the uncertainties inherent in research and development, including clinical trial results and additional analysis of existing clinical data; regulatory actions or delays or government regulation generally; global trends toward health care cost containment, including government, payor and general public pricing and reimbursement pressures and requirements for increased pricing transparency; our ability to obtain or maintain proprietary intellectual property protection; the particular prescribing preferences of physicians and patients; general political, economic and business conditions, including the effects of and efforts to mitigate pandemic diseases; safety, quality, data integrity or manufacturing issues; potential or actual data security and data privacy breaches, or disruptions of our information technology systems, and other risks and factors referred to in Novartis AG’s current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.

About Novartis
Novartis is an innovative medicines company. Every day, we work to reimagine medicine to improve and extend people’s lives so that patients, healthcare professionals and societies are empowered in the face of serious disease. Our medicines reach more than 300 million people worldwide.

Reimagine medicine with us: Visit us at https://www.novartis.com and connect with us on LinkedIn, Facebook, X/Twitter and Instagram.

References

1. Data on files
2. Maurer M, et al. How to approach Chronic Inducible Urticaria, The Journal of Allergy and Clinical Immunology, 2018, Volume 6, Issue 4, Pages 1119-1130
3. World Population Prospects, Department of Economic and Social Affairs Population Division, United Nations. Available from: https://population.un.org/wpp/downloads?folder=Standard%20Projections&group=Population [Last accessed: February 2026]
4. Maurer M, Berger W, Giménez-Arnau A, et al. Remibrutinib, a novel BTK inhibitor, demonstrates promising efficacy and safety in chronic spontaneous urticaria. J Allergy Clin Immunol 2022; 150: 1498-1506. 
5. Angst D, Gessier F, Janser P, et al. Discovery of LOU064 (remibrutinib), a potent and highly selective covalent inhibitor of Bruton’s Tyrosine Kinase. J Med Chem 2020; 63: 5102-5118. 
6. Powell RJ, Leech SC, Till S, et al. BSACI guideline for the management of chronic urticaria and angioedema. Clin Exp Allergy 2015; 45: 547-565.
7. Patient. Antihistamines. Last updated 12 October 2022. Available from: https://patient.info/allergies-blood-immune/allergies/antihistamines [Last accessed: February 2026].  
8. ClinicalTrials.gov. NCT03827798. Study of efficacy and safety of investigational treatments in patients with moderate to severe hidradenitis suppurativa. Available from: https://clinicaltrials.gov/ct2/show/NCT03827798. [Last accessed: February 2026]
9. ClinicalTrials.gov. NCT05432388. Study of efficacy, safety and tolerability of remibrutinib in adult participants with an allergy to peanuts. Available from: https://clinicaltrials.gov/study/NCT05432388 [Last accessed: February 2026].
10. ClinicalTrials.gov. NCT05147220. Efficacy and safety of remibrutinib compared to teriflunomide in participants with relapsing multiple sclerosis (RMS) (REMODEL-1). Available from: https://clinicaltrials.gov/study/NCT05147220 [Last accessed: February 2026].
11. ClinicalTrials.gov. NCT05156281. Efficacy and safety of remibrutinib compared to teriflunomide in participants with relapsing multiple sclerosis (RMS) (REMODEL-2). Available from: https://clinicaltrials.gov/study/NCT05156281 [Last accessed: February 2026].
12. ClinicalTrials.gov. NCT05976243. A Study to Investigate Efficacy, Safety, and Tolerability of Remibrutinib Compared With Placebo in Adults With CINDU Inadequately Controlled by H1-antihistamines. Available from: https://clinicaltrials.gov/study/NCT05976243 [Last accessed: February 2026].
13. Pozderac I, et al. Chronic inducible urticaria: classification and prominent features of physical and non-physical types. Acta Dermatovenerol Alp Pannonica Adriat. 2020;29(3):141–8
14. Zuberbier et al. The international EAACI/GA²LEN/EuroGuiDerm/APAAACI guideline for the definition, classification, diagnosis and management of urticaria. Allergy.2022;77(3):734–66
15. M Kern B, et al. Physician estimation of the prevalence and clinical impact of chronic urticaria: results of the global, multicenter UCARE CU-PAPER study, Frontiers in allergy, 2026, volume 6:1732893
16. Munoz M, et al. New insights into chronic inducible urticaria. Current Allergy and Asthma Reports, 2024 volume 24, 457-469
17. Kolkhir P, et al. Urticaria. Nat Rev Dis Primers. 2022;8(61)

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Defeating the “Cold Chain” Barrier: Bio Usawa and Nanoly Bioscience Announce Strategic $500 Million Licensing Agreement for Breakthrough DynaShield™ Technology




Defeating the “Cold Chain” Barrier: Bio Usawa and Nanoly Bioscience Announce Strategic $500 Million Licensing Agreement for Breakthrough DynaShield™ Technology

SAN FRANCISCO and LOS ANGELES and KIGALI, Rwanda, Feb. 17, 2026 (GLOBE NEWSWIRE) — Bio Usawa, a leader in expanding global access to biopharmaceuticals, and Nanoly Bioscience, a pioneer in chemical stabilization, today announced a definitive licensing agreement for DynaShield™ technology.

The deal valued at up to $500 million grants Bio Usawa exclusive, worldwide rights to use and sublicense the DynaShield™ technology across its portfolio and in third-party biologic and vaccine products, enabling broad commercial deployment across multiple therapeutic platforms.

Storing and transporting biologics traditionally require a continuous “cold chain”—a specialized temperature-controlled supply chain that is often fragile, expensive, and inaccessible in many parts of the world.

The DynaShield™ technology uses a specialized polymer scaffold to shield delicate proteins from thermal degradation. This allows critical medical products to remain stable outside of refrigeration for extended periods.

“Our mission is to make biologics affordable and accessible,” said Dr. Menghis Bairu, CEO of Bio Usawa. “By eliminating the cold chain requirement through this technology, we are removing the single greatest logistical barrier to health equity. This $500 million investment reflects our confidence that this technology will redefine global drug access.”

“Bio Usawa is the ideal partner to take the DynaShield™ technology to the global stage,” said Dr. Balaji Sridhar, CEO of Nanoly Bioscience. “Their manufacturing scale and commitment to underserved markets align perfectly with our vision of a world where access to life-saving medicine isn’t limited by the reach of a refrigerator.”

Impact on Global Health
This collaboration is expected to reduce significantly the overhead costs of biologic and vaccine distribution and decrease the high rates of spoilage currently seen in last-mile delivery.

For example, according to the World Health Organization, up to 50 percent of vaccines are wasted globally each year, largely due to cold chain failures, logistics breakdowns, and temperature control issues (WHO Vaccine Wastage Fact Sheet; WHO Immunization Supply Chain and Logistics reports).

In addition, industry analyses estimate that cold-chain temperature excursions and logistics failures cost the biopharmaceutical sector approximately $20 billion to $35 billion annually in spoiled product, reshipment costs, and compliance losses (IQVIA Institute for Human Data Science; Biopharma Cold Chain Sourcebook; industry logistics reports).

By enabling room-temperature stability, DynaShield™ has the potential to reduce substantially the vaccine and biologic wastage rates, lower distribution costs, and expand reliable access to life-saving therapies worldwide—particularly in regions where controlled refrigeration infrastructure remains limited.

About Bio Usawa
Bio Usawa is a biopharmaceutical company dedicated to the manufacturing and distribution of high-quality biosimilars and essential biologics. With a focus on emerging markets, Bio Usawa strives to bridge the gap in healthcare accessibility through innovation and localized production.

About Nanoly Bioscience
Nanoly Bioscience is a biotech firm specializing in the stabilization of high value biologics. The DynaShield™ platform is engineered to protect biologics from temperature fluctuations, ensuring efficacy from the point of manufacture to the point of care.

Media Contact:
Press Office, Bio Usawa
media@biousawa.com
+1 (555) 012-3456
Investor Relations:
ir@nanoly.com

HCW Biologics Announces Pricing of $1.5 Million Follow-On Offering Priced At-The-Market Under NASDAQ Rules




HCW Biologics Announces Pricing of $1.5 Million Follow-On Offering Priced At-The-Market Under NASDAQ Rules

MIRAMAR, Fla., Feb. 17, 2026 (GLOBE NEWSWIRE) — HCW Biologics Inc. (the “Company”), (NASDAQ: HCWB), a U.S.-based clinical-stage biopharmaceutical company focused on discovering and developing innovative immunotherapies to extend health span by targeting the link between chronic inflammation and disease, today announced the pricing of its follow-on offering of an aggregate of 2,477,292 units at a purchase price of $0.6055 per unit priced at-the-market under Nasdaq rules. Each unit consists of one share of common stock (or pre-funded warrant in lieu thereof) and one warrant, each to purchase one share of common stock. The warrant will have an exercise price of $0.6055 per share, will be exercisable upon shareholder approval, and will expire on the five-year anniversary from such date of shareholder approval. The shares of common stock (or pre-funded warrants) and the warrant comprising the units are immediately separable and will be issued separately in this offering. The closing of the offering is expected to occur on or about February 19, 2026, subject to the satisfaction of customary closing conditions.

Maxim Group LLC is acting as the sole placement agent for the offering.

The gross proceeds from the offering, before deducting the placement agent’s fees and other offering expenses, are expected to be approximately $1.5 million. The Company intends to use the net proceeds from this offering for funding preclinical and clinical development, including the clinical trials for HCW9302, and general corporate purposes.

In addition, the Company has entered into a privately negotiated agreement with the holder of certain existing outstanding warrants to purchase up to 3,020,410 shares of common stock (the “Existing Warrants”) to reduce the exercise price of such Existing Warrants from $2.41 per share to $0.6055 per share. The reduction of the exercise price of the Existing Warrants is subject to shareholder approval.

The securities described above are being offered pursuant to a registration statement on Form S-1, as amended (File No. 333-293396), which was declared effective by the Securities and Exchange Commission (the “SEC”) on February 17, 2026. The offering is being made only by means of a prospectus which forms a part of the effective registration statement. A preliminary prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus, when available, may be obtained on the SEC’s website at www.sec.gov and may also be obtained by contacting Maxim Group LLC at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Prospectus Department, or by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com.

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

About HCW Biologics:

HCW Biologics Inc. (NASDAQ: HCWB) is a clinical-stage biopharmaceutical company developing proprietary immunotherapies to treat diseases promoted by chronic inflammation, especially age-related and senescence-associated diseases. The Company’s immunotherapeutics represent a new class of drugs that it believes have the potential to fundamentally change the treatment of cancer and many other diseases and conditions that are promoted by chronic inflammation — and in doing so, improve patients’ quality of life and potentially extend longevity. Chronic inflammation, including inflammaging, is believed to be a significant contributing factor to senescence-associated diseases and conditions that diminish health span, including many types of cancer, autoimmune diseases, and neurodegenerative diseases, as well as many indications that impact quality-of-life that are not life-threatening. The Company’s lead product candidate, HCW9302, was developed using the Company’s legacy TOBI™ (Tissue factOr-Based fusIon) platform. The Company has created another drug discovery technology, the TRBC platform, which is not based on Tissue Factor. The TRBC platform has the capability to construct immunotherapeutics that not only activate and target immune responses but are also equipped with receptors that specifically target cancerous or infected cells. This platform is a versatile scaffold that enables the creation of multiple classes of immunotherapeutic compounds: Class I: Multi-Functional Immune Cell Stimulators; Class II: Second-Generation Immune Checkpoint Inhibitors; Class III: Multi-Specific Targeting Fusions and Enhanced Immune Cell Engagers. These novel immunotherapeutics are being developed for treatment of a wide range of disease indications, including oncology, autoimmune diseases, and improving quality of life conditions. The Company has constructed over 50 molecules using the TRBC platform. HCW9302 is the lead product candidate for the Company’s clinical development program for autoimmune diseases and other proinflammatory conditions. The Company has dosed the first patient in a Company-sponsored, multi-center Phase 1 clinical trial to evaluate HCW9302 in an autoimmune disease (NCT07049328). The IND-enabling process is underway for three TRBC-based molecules which were selected as the lead product candidates for other clinical development programs in cancer and age-related diseases based on promising preclinical data. The Company has two licensing programs in which it has licensed exclusive rights for some of its proprietary molecules.

Forward-Looking Statements

Statements in this press release contain “forward-looking statements” that are subject to substantial risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “expect,” “believe,” “will,” “may,” “should,” “estimate,” “project,” “outlook,” “forecast” or other similar words and include, the statements on the closing of the offering and the satisfaction of closing conditions and use of proceeds in the offering, the Company’s ability to develop new immunotherapeutic treatments for non-oncology or oncology indications; the capabilities of the Company’s new platform and the effectiveness of new fusion proteins developed using the new platform. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ include, but are not limited to, the risks and uncertainties that are described in the section titled “Risk Factors” in the annual report on Form 10-K filed with the United States Securities and Exchange Commission (the “SEC”) on March 28, 2025 and in other filings filed from time to time with the SEC. Forward-looking statements contained in this press release are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Company Contact:

Rebecca Byam
CFO
HCW Biologics Inc.
rebeccabyam@hcwbiologics.com

BrightSpring Health Services, Inc. to Host Investor Day on March 17, 2026




BrightSpring Health Services, Inc. to Host Investor Day on March 17, 2026

LOUISVILLE, Ky., Feb. 17, 2026 (GLOBE NEWSWIRE) — BrightSpring Health Services, Inc. (“BrightSpring” or the “Company”) (NASDAQ: BTSG) announced today that it will host an Investor Day on Tuesday, March 17, 2026 starting at 8:30 a.m. ET. The event will feature presentations by several members of BrightSpring’s leadership team, as well as Q&A sessions throughout the day.

A live and archived webcast of the event will be available on the Company’s investor relations website at https://ir.brightspringhealth.com under the “Events & Presentations” section, where related presentation materials will be posted. The webcast registration may be accessed directly here.

In-person attendance is limited and is by invitation only. Institutional investors and analysts who are interested in attending should contact ir@brightspringhealth.com.

About BrightSpring Health Services

BrightSpring Health Services provides complementary home- and community-based pharmacy and provider health solutions for complex populations in need of specialized and/or chronic care. Through the Company’s service lines, including pharmacy, home health care and primary care, and rehabilitation and behavioral health, we provide comprehensive and integrated care and clinical solutions in all 50 states to over 450,000 customers, clients and patients daily. BrightSpring has consistently demonstrated strong and industry-leading quality metrics across its services lines, while improving the quality of life and health for high-need individuals and reducing overall costs to the healthcare system.

Contact

Investor Relations:
David Deuchler, CFA
Gilmartin Group LLC
ir@brightspringhealth.com

Media Contact:
Leigh White
leigh.white@brightspringhealth.com
502.630.7412

HealthEquity Delivers Record Q4 and Standout Fiscal 2026 Sales Metrics




HealthEquity Delivers Record Q4 and Standout Fiscal 2026 Sales Metrics

Announces earnings date and upcoming investor conferences

DRAPER, Utah, Feb. 17, 2026 (GLOBE NEWSWIRE) — HealthEquity, Inc. (NASDAQ: HQY) (“HealthEquity” or the “Company”), the nation’s largest health savings account (“HSA”) custodian by number of accounts and leading provider of complementary consumer-directed benefits (“CDBs”), today announced its HSAs, HSA Assets, and Total Accounts as of its fiscal year ended January 31, 2026. The Company also reaffirmed its guidance for fiscal 2026 and 2027, provided an updated HSA cash repricing schedule, and announced upcoming events and presentations.

The total number of HSAs as of January 31, 2026 was 10.6 million, an increase of 7% from 9.9 million as of January 31, 2025. The Company closed fiscal year 2026 with 17.8 million Total Accounts, an increase of 4% from 17.0 million as of January 31, 2025. HSA Assets grew to $36.5 billion as of January 31, 2026, an increase of 14% from $32.1 billion a year earlier. Fourth-quarter new HSAs from sales rose 17% year over year. HSA investments increased 26% year over year to $18.5 billion.

“HealthEquity delivered a standout fiscal 2026 sales year, driven by a record fourth quarter and our strongest year yet for HSA additions—adding more than one million new HSA accounts from sales,” said Scott Cutler, President and CEO of HealthEquity.

“Against softer U.S. job growth, we generated record new HSA sales as employers turned to HSAs to address rising healthcare costs. Open-enrollment execution drove increased utilization of HSA-eligible plans with enterprise clients, higher retail enrollment supported by product enhancements, and early momentum among newly eligible American families.”

“We maintained high client retention and are entering the new fiscal year with a growing enterprise pipeline. As healthcare affordability pressures persist nationally, we are advocating for regulatory changes so more Americans can take greater control over how they pay for healthcare.”

Dr. Steve Neeleman, Founder and Vice Chair, added, “We’re encouraged by bipartisan efforts to broaden access to HSAs and expand categories of HSA-eligible expenses. HSAs put families in control of their healthcare dollars and help Americans make more informed healthcare decisions.”

Total Accounts (unaudited)

* Not meaningful

HSA Assets (unaudited)

HSA cash maturity schedule (unaudited)

The following table summarizes the amount of HSA cash expected to reprice by fiscal year and the respective average annualized yield as of January 31, 2026:

(1)  Excludes $0.7 billion of HSA cash held in floating-rate contracts as of January 31, 2026.

Business outlook

HealthEquity reaffirmed its previously provided outlook for the fiscal year that ended January 31, 2026, and the fiscal year ending January 31, 2027.

The Company expects fiscal 2026 results to be near the top end of previously provided ranges. Based on the strong sales results reported today, the Company intends to provide updated full guidance for fiscal 2027 when it reports fiscal 2026 year-end results in March.

Please see the Company’s press releases dated December 3, 2025, and January 12, 2026, for details regarding previously issued outlooks.

Upcoming events and presentations

The Company set the date for reporting its fourth quarter and fiscal year 2026 results.

The Company also announced that its management team plans to present and meet with investors at the following upcoming conferences:

About HealthEquity

HealthEquity and its subsidiaries provide HSAs and other consumer-directed benefits for more than 17 million accounts in partnership with employers, benefits advisors, and health and retirement plan providers who share our mission to save and improve lives by empowering healthcare consumers. For more information, visit www.healthequity.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, including but not limited to, statements regarding our New HSAs from Sales, HSA Assets, Total Accounts, industry, business strategy, plans, goals and expectations concerning our markets and market position, product expansion, future operations, expenses and other results of operations, revenue, margins, profitability, acquisition synergies, future efficiencies, tax rates, capital expenditures, liquidity and capital resources and other financial and operating information. When used in this discussion, the words “may,” “believes,” “intends,” “seeks,” “aims,” “anticipates,” “plans,” “estimates,” “expects,” “should,” “assumes,” “continues,” “could,” “will,” “future” and the negative of these or similar terms and phrases are intended to identify forward-looking statements in this press release.

Forward-looking statements reflect our current expectations regarding future events, results or outcomes. These expectations may or may not be realized. Although we believe the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to be correct. Some of these expectations may be based upon assumptions, data or judgments that prove to be incorrect. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, risks related to the following:

• our ability to adequately place and safeguard our custodial assets, or the failure of any of our depository or insurance company partners;
• our ability to compete effectively in a rapidly evolving healthcare and benefits administration industry;
• our dependence on the continued availability and benefits of tax-advantaged HSAs and other CDBs;
• the impact of fraudulent account activity involving our member accounts or our third-party service providers on our reputation and financial results;
• our ability to successfully identify, acquire and integrate additional portfolio purchases or acquisition targets;
• the significant competition we face and may face in the future, including from those with greater resources than us;
• our reliance on the availability and performance of our technology and communications systems;
• potential future cybersecurity breaches of our technology and communications systems and other data interruptions, including resulting costs and liabilities, reputational damage and loss of business;
• the current uncertain healthcare environment, including changes in healthcare programs and expenditures and related regulations;
• our ability to comply with current and future privacy, healthcare, tax, ERISA, investment adviser and other laws applicable to our business;
• our reliance on partners and third-party vendors for distribution and important services;
• our ability to develop and implement updated features for our technology platforms and communications systems; and
• our reliance on our management team and key team members.

For a detailed discussion of these and other risk factors, please refer to the risks detailed in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K for the fiscal year ended January 31, 2025, and subsequent periodic and current reports. Past performance is not necessarily indicative of future results. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Investor Relations Contact
Richard Putnam
801-727-1000
rputnam@healthequity.com

Certain terms