Emergent BioSolutions Reports Third Quarter 2025 Financial Results




Emergent BioSolutions Reports Third Quarter 2025 Financial Results

• Third Quarter 2025 Total Revenues of $231.1 million, above the high end of Q3 guidance by $21.0 million
• Third Quarter 2025 Net Income of $51.2 million and Net Income Margin of 22%
• Third Quarter 2025 Gross Margin % of 54% and Adjusted Gross Margin % of 61%, an expansion of 300 bps and 200 bps, respectively, versus prior year
• Third Quarter 2025 Adjusted EBITDA of $87.8 million and Adjusted EBITDA Margin of 38%
• Raising the Full Year 2025 Revenue and Profitability Guidance
• Strong Sequential Naloxone Revenue Growth, Primarily Driven by NARCAN^® Nasal Spray, QoQ Through Q3 2025

GAITHERSBURG, Md., Oct. 29, 2025 (GLOBE NEWSWIRE) — Emergent BioSolutions Inc. (NYSE: EBS) today reported financial results for the third quarter ended September 30, 2025.

“Following a strong second quarter, we are proud to again beat the high end of our third quarter 2025 revenue guidance by $21 million, with continued margin expansion that gives us confidence in meeting the higher end of our adjusted EBITDA guidance for 2025,” said Joe Papa, president and CEO of Emergent. “We remain confident in our products business as evidenced by the sequential growth of our naloxone franchise, where pricing has stabilized for NARCAN^® Nasal Spray, as well as continued demand from our international customers, who represent 34% of our medical countermeasures orders year to date. The Company has now secured eleven MCM contract modifications and product orders in 2025, highlighting the consistent global demand for medical countermeasures products, in a world where biological threats represent a growing risk. Our balance sheet is healthy, and we are judiciously deploying our capital to create shareholder value and build a long-term growth trajectory.”

FINANCIAL HIGHLIGHTS ⁽¹⁾

Q3 2025 vs. Q3 2024

Year to Date (“YTD”) 2025 vs YTD 2024

RECENT BUSINESS UPDATES

• Received $29 Million in MCM product orders from international government partner
• Secured $17 Million contract modification for Oral Suspension TEMBEXA^® (brincidofovir)
• Secured $56 Million contract modification for ACAM2000^® (Smallpox and Mpox (Vaccinia) Vaccine, Live)
• Secured $30 Million contract modification for CYFENDUS^® (Anthrax Vaccine Adsorbed, Adjuvanted)
• Secured $52 Million contract modification award for CNJ-016^® (Vaccinia Immune Globulin Intravenous, Human (VIGIV))
• Updated proprietary distribution platform, NARCANDirect^®, to offer KLOXXADO® Nasal Spray 8 mg and Convenience Kits
• Recognized multiple naloxone awareness days throughout the quarter, and applauded the over-the-counter availability of naloxone in U.S. House of Representatives buildings
• New Publication in Expert Review of Anti-infective Therapy Evaluates Brincidofovir as Potential Antiviral Treatment for Mpox

THIRD QUARTER 2025 FINANCIAL PERFORMANCE ⁽¹⁾

Revenues

The Company uses the following categories in discussing revenues:

• Naloxone — comprises contributions from NARCAN^® Nasal Spray and KLOXXADO^® Nasal Spray
• Anthrax MCM — comprises contributions from CYFENDUS^®, previously known as AV7909, BioThrax^®, Anthrasil^® and Raxibacumab
• Smallpox MCM — comprises contributions from ACAM2000^®, CNJ-016^® (VIGIV) and TEMBEXA^®
• Other Products — comprises contributions from BAT^® and RSDL^{® (3)}
• All Other Revenues — comprises revenues from the Services operating segment and contracts and grants revenues

Product Sales, net ⁽⁴⁾

Naloxone

For Q3 2025, revenues from Naloxone products decreased $20.4 million, or 21%, as compared with Q3 2024. The decrease was primarily driven by lower sales of OTC NARCAN^® and lower Canadian sales of branded NARCAN^®, primarily driven by an unfavorable price and volume mix, partially offset by an increase in KLOXXADO^® sales.

Anthrax MCM

For Q3 2025, revenues from Anthrax MCM products decreased $10.0 million, or 88%, as compared with Q3 2024. The decrease primarily reflects the impact of timing of USG sales of BioThrax^® as well as timing of international sales of CYFENDUS^® in the prior year period. Anthrax vaccine product sales are primarily made under annual purchase options exercised by the U.S. Government (“USG”). Fluctuations in revenues result from the timing of the exercise of annual purchase options, the timing of USG purchases, the availability of governmental funding and Company delivery of orders that follow.

Smallpox MCM

For Q3 2025, revenues from Smallpox MCM products decreased $49.1 million, or 37%, as compared with Q3 2024. The decrease was primarily due to lower USG ACAM2000^® and CNJ-016^® (VIGIV) sales due to timing, partially offset by an increase in international CNJ-016^® (VIGIV), ACAM2000^®, and TEMBEXA^® sales. Fluctuations in revenues from Smallpox MCM result from the timing of the exercise of annual purchase options in the existing procurement contracts, the timing of USG purchases, the availability of governmental funding and Company delivery of orders that follow.

Other Products

For Q3 2025, revenues from Other Product sales increased $27.4 million, or 91%, as compared with Q3 2024. The increase was primarily due to higher USG BAT^® sales due to timing, partially offset by a decrease in international sales orders.

All Other Revenues

Services

For Q3 2025, revenues from Services decreased $9.7 million, or 68%, as compared with Q3 2024. The decrease was primarily attributable to the decrease in revenue from the Company’s Camden facility in the current year period, which was sold to Bora Pharmaceuticals in the third quarter of 2024, partially offset by an increase in production at the Company’s Winnipeg facility.

Contracts and Grants

For Q3 2025, revenues from contracts and grants decreased $0.9 million, or 9%, as compared with Q3 2024. The decrease was due to declines in overall funded R&D projects, partially offset by an increase in development work in connection with Ebanga™.

Operating Expenses

Cost of Product and Services Sales, Net

For Q3 2025, cost of product and services sales, net decreased $36.7 million, or 30%, as compared with Q3 2024. The decrease was driven by decreases in cost of Services of $16.2 million, cost of MCM Product sales of $15.9 million and cost of Commercial Product sales of $4.6 million.

Research and Development Expenses

For Q3 2025, R&D expenses decreased $0.3 million, or 2% as compared with Q3 2024. The decrease was primarily due to decreases in overhead and severance related costs, partially offset by an increase in unfunded R&D project spend and in Ebanga™ related development work.

Selling, General and Administrative Expenses

For Q3 2025, SG&A expenses decreased $37.7 million, or 49%, as compared with Q3 2024. The decrease was primarily due to the absence of a one-time expense of $10.0 million recognized in the prior year period and the receipt of a one-time reimbursement of $10.5 million in the current year period related to settlements of our securities and shareholder litigation matters. These non-recurring items were coupled with decreases in compensation and other employee related expenses as a result of the restructuring initiatives that began during the first quarter of 2023, and lower marketing, professional services and legal expenses.

ADDITIONAL FINANCIAL INFORMATION⁽¹⁾

Capital Expenditures

For Q3 2025, capital expenditures decreased largely due to lower development activities across the Company’s facilities.

REPORTABLE SEGMENT INFORMATION

The Company manages the business with a focus on three operating segments: (1) a Commercial Products segment consisting of NARCAN^® Nasal Spray and KLOXXADO^® Nasal Spray, which product is currently being integrated into our distribution network, NARCANDirect^®; (2) a MCM Products segment consisting of Anthrax – MCM, Smallpox – MCM and Other products and (3) a services segment consisting of our Bioservices offerings (“Services”). Commercial Products and MCM Products are our two reportable segments. In the first quarter of 2025, the Company’s determined that its Services operating segment no longer meets the quantitative thresholds of a reportable segment and did not meet the aggregation criteria set forth in Accounting Standards Codification 280, Segment Reporting, and as such is categorized within “All other revenues” along with “Contracts and Grants”. The Company evaluates the performance of these reportable segments based on revenues and segment adjusted gross margin, which is a non-GAAP financial measure. Segment revenue includes external customer sales, but does not include inter-segment services. The Company does not allocate contracts and grants revenue, R&D, SG&A, amortization of intangible assets, interest and other income (expense) or taxes to its evaluation of the performance of these segments.

THIRD QUARTER 2025 REPORTABLE SEGMENT RESULTS

Cost of Commercial Product sales decreased $4.6 million, or 10%, to $42.6 million for the quarter ended September 30, 2025. The decrease was primarily due to lower sales of OTC NARCAN^® and lower Canadian sales of branded NARCAN^®, partially offset by an increase in KLOXXADO^® sales

Commercial Products gross margin decreased $15.8 million, or 41%, to $22.9 million for the quarter ended September 30, 2025. Commercial Products gross margin percentage decreased 10 percentage points to 31% for the quarter ended September 30, 2025. The decrease was largely due to lower sales of OTC NARCAN^® and lower branded NARCAN^® sales, as well as an unfavorable price and volume mix, partially offset by an increase in KLOXXADO^® sales. Commercial Products segment adjusted gross margin in the current year period excludes the impact of intangible asset amortization of $9.4 million.

Cost of MCM product sales decreased $15.9 million, or 29%, to $38.1 million for the quarter ended September 30, 2025. The decrease was primarily due to lower production costs of ACAM2000^®, BioThrax^®, and CNJ-016^® (VIGIV), reflecting reduced volumes, combined with favorable manufacturing variances due to lower shut-down and severance costs, partially offset by an increase in costs related to higher BAT^® sales volume.

MCM Product gross margin decreased $15.8 million, or 14%, to $97.5 million for the quarter ended September 30, 2025. MCM Product gross margin percentage increased 3 percentage points to 68% for the quarter ended September 30, 2025. The increase in gross margin percentage was primarily due to a favorable sales mix which was weighted more heavily towards higher margin products and a decrease in shutdown and severance related costs compared with the third quarter of 2024. MCM Product segment adjusted gross margin in the current year period excludes the impacts of intangible asset amortization of $6.9 million and restructuring costs of $0.2 million.

YTD 2025 REPORTABLE SEGMENT RESULTS

Cost of Commercial Product sales decreased $49.2 million, or 32%, to $103.5 million for the nine months ended September 30, 2025. The decrease was primarily due to lower sales of OTC NARCAN^® and lower Canadian sales of branded NARCAN^®, partially offset by an increase in KLOXXADO^® sales.

Commercial Products gross margin decreased $96.9 million, or 63%, to $55.9 million for the nine months ended September 30, 2025. Commercial Products gross margin percentage decreased 16 percentage points to 30% for the nine months ended September 30, 2025. The decrease was largely due to lower sales of OTC NARCAN^® and lower branded NARCAN^® sales, as well as an unfavorable price, volume and product mix, partially offset by an increase in KLOXXADO^® sales. Commercial Products segment adjusted gross margin in the current year period excludes the impact of intangible asset amortization of $28.3 million and restructuring costs of $0.2 million.

Cost of MCM product sales decreased $33.2 million, or 23%, to $114.1 million for the nine months ended September 30, 2025. The decrease was primarily due to lower productions costs of CYFENDUS^®, BioThrax^®, and ACAM2000^® reflecting reduced volumes, no RSDL^® related costs in 2025 due to the sale of RSDL^® to SERB in the third quarter of 2024, combined with favorable manufacturing variances mostly due to lower shut-down and severance costs and lower Raxibacumab inventory reserves. These decreases were partially offset by higher costs for Anthrasil^®, TEMBEXA^®, CNJ-016^® (VIGIV) sales due to higher unit volume.

MCM Product gross margin decreased $2.3 million, or 1%, to $222.9 million for the nine months ended September 30, 2025. MCM Product gross margin percentage increased 5 percentage points to 62% for the nine months ended September 30, 2025. The increase in gross margin percentage was primarily due to a favorable sales mix which was weighted more heavily towards higher margin products and a decrease in shutdown and severance costs compared with the prior year period. MCM Product segment adjusted gross margin in the current year period excludes the impacts of intangible asset amortization of $20.5 million, inventory step-up provision of $1.8 million and restructuring costs of $(1.0) million.

2025 FINANCIAL FORECAST

The Company provides the following updated financial forecast for full year 2025, reflecting management’s expectations based on the most current information available.

FOOTNOTES

⁽¹⁾ All financial information included in this release is unaudited.

⁽²⁾ See “Non-GAAP Financial Measures” and the “Reconciliation of Non-GAAP Financial Measures” tables for the definitions and reconciliations of these non-GAAP financial measures to the most closely related GAAP financial measures.

⁽³⁾ Our MCM Products revenue in 2025 and forecasted revenue excludes revenues related to RSDL^®, which was sold during the third quarter of 2024.

⁽⁴⁾ Product sales, net are reported net of variable consideration including returns, rebates, wholesaler fees and prompt pay discounts in accordance with GAAP.

⁽⁵⁾ Our Commercial Products forecast consists of revenues for NARCAN^® Nasal Spray and revenues from distribution of KLOXXADO^® naloxone HCl nasal spray 8 mg pursuant to an agreement with Hikma Pharmaceuticals PLC in January 2025. 

CONFERENCE CALL, PRESENTATION SUPPLEMENT AND WEBCAST INFORMATION

Company management will host a conference call at 5:00 pm eastern time today, October 29, 2025, to discuss these financial results. The conference call and presentation supplement can be accessed from the Company’s website or through the following:

By phone
Advanced registration is required.
Visit https://register-conf.media-server.com/register/BI87c9854c104a472e92d2ff019fcc47cf to register and receive an email with the dial-in number, passcode and registrant ID.

By webcast
Visit https://edge.media-server.com/mmc/p/azeu358t/
A replay of the call can be accessed from the Emergent website.

ABOUT EMERGENT BIOSOLUTIONS INC.

At Emergent, our mission is to protect and save lives. For over 25 years, we’ve been at work preparing those entrusted with protecting public health. We deliver protective and life-saving solutions for health threats like smallpox, mpox, botulism, Ebola, anthrax and opioid overdose emergencies. To learn more about how we help prepare communities around the world for today’s health challenges and tomorrow’s threats, visit our website and follow us on LinkedIn, X, Instagram, Apple Podcasts and Spotify.

NON-GAAP FINANCIAL MEASURES

In the accompanying analysis of financial information, we sometimes use information derived from consolidated and segment financial information that may not be presented in our financial statements or prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Certain of these financial measures are considered not in conformity with GAAP (“non-GAAP financial measures”) under the United States Securities and Exchange Commission (“SEC”) rules. Specifically, we have referred to the following non-GAAP financial measures:

• Adjusted Net Income (Loss)
• Adjusted Net Income (Loss) per Diluted Share
• Adjusted EBITDA
• Adjusted EBITDA Margin
• Adjusted Gross Margin
• Adjusted Gross Margin %
• Segment Adjusted Gross Margin
• Segment Adjusted Gross Margin %

We define Adjusted Net Income (Loss) and Adjusted Net Income (Loss) per Diluted Share, which are non-GAAP financial measures, as net income (loss) and net income (loss) per diluted share, respectively, excluding the impact of non-cash amortization charges, impairments, severance and restructuring costs, inventory step-up provision, acquisition and divestiture costs, exit and disposal costs, loss (gain) on sale of business and assets held for sale, settlement charges, net, contingent consideration milestones, changes in fair value of financial instruments, other expense (income) items and tax effects. We use Adjusted Net Income (Loss) for the purpose of calculating Adjusted Net Income (Loss) per Diluted Share. Management uses Adjusted Net Income (Loss) per Diluted Share to assess total Company operating performance on a consistent basis. We believe that these non-GAAP financial measures, when considered together with our GAAP financial results and GAAP financial measures, provide management and investors with an additional understanding of our business operating results, including underlying trends.

We define Adjusted EBITDA, which is a non-GAAP financial measure, as net income (loss) before depreciation and amortization, income tax provision, interest expense, net, excluding the impact of changes in fair value of financial instruments, acquisition and divestiture costs, severance and restructuring costs, loss (gain) on sale of business and assets held for sale, inventory step-up provision, contingent consideration milestones, impairments, settlement charges, net, exit and disposal costs and other expense (income) items. We define Adjusted EBITDA Margin, which is a non-GAAP financial measure, as Adjusted EBITDA divided by Total Revenues. We believe that these non-GAAP financial measures, when considered together with our GAAP financial results and GAAP financial measures, provide management and investors with a more complete understanding of our operating results, including underlying trends. In addition, EBITDA is a common alternative measure of operating performance used by many of our competitors. It is used by investors, financial analysts, rating agencies and others to value and compare the financial performance of companies in our industry, although it may be defined differently by different companies. Therefore, we also believe that this non-GAAP financial measure, considered along with corresponding GAAP financial measures, provides management and investors with additional information for comparison of our operating results with the operating results of other companies.

We define Adjusted Gross Margin, which is a non-GAAP financial measure, as Gross Margin, excluding the impact of intangible asset amortization, restructuring costs, changes in the fair value of financial instruments, settlement charges, net and inventory step-up provision. We define Adjusted Gross Margin %, which is a non-GAAP financial measure, as Adjusted Gross Margin as a percentage of Products and services sales, net.

We define Segment Adjusted Gross Margin, which is a non-GAAP financial measure, as a segment’s Gross Margin excluding the respective impact of intangible asset amortization, restructuring costs, changes in the fair value of financial instruments and inventory step-up provision. We define Segment Adjusted Gross Margin %, which is a non-GAAP financial measure, as Segment Adjusted Gross Margin as a percentage of a segment’s revenues.

Non-GAAP financial measures are not defined in the same manner by all companies and may not be comparable with other similarly titled measures of other companies. The determination of the amounts that are excluded from these non-GAAP financial measures are a matter of management judgment and depend upon, among other factors, the nature of the underlying expense or income amounts. Non-GAAP financial measures should be considered in addition to, but not as a substitute for or superior to, the information contained in our Consolidated Statements of Operations and Consolidated Statements of Cash Flows. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the financial tables accompanying this press release.

SAFE HARBOR STATEMENT

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements, other than statements of historical fact, including statements regarding the future performance of the Company or any of our businesses, our business strategy, future operations, future financial position, future revenues and earnings, our ability to achieve the objectives of our restructuring initiatives and divestitures, including our future results, projected costs, prospects, plans and objectives of management, are forward-looking statements. We generally identify forward-looking statements by using words like “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “confident,” “commit,” “forecast,” “future,” “outlook,” “goal,” “intend,” “may,” “plan,” “position,” “possible,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements. These forward-looking statements are based on our current intentions, beliefs, assumptions and expectations regarding future events based on information that is currently available. You should realize that if underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could differ materially from our expectations. Readers are, therefore, cautioned not to place undue reliance on any forward-looking statement contained herein. Any such forward-looking statement speaks only as of the date of this press release, and, except as required by law, we do not undertake any obligation to update any forward-looking statement to reflect new information, events or circumstances.

There are a number of important factors that could cause our actual results to differ materially from those indicated by such forward-looking statements, including, among others, the availability of USG funding for contracts related to procurement of our medical countermeasure (“MCM”) products, including CYFENDUS^® (Anthrax Vaccine Adsorbed (AVA) Adjuvanted), previously known as AV7909, ACAM2000^® (Smallpox (Vaccinia) Vaccine, Live), CNJ-016^® (Vaccinia Immune Globulin Intravenous (Human) (VIGIV)), BAT^® (Botulism Antitoxin Heptavalent (A,B,C,D,E,F,G)-(Equine)), BioThrax^® (Anthrax Vaccine Adsorbed) Ebanga™ (ansuvimab-zykl) and/or TEMBEXA^® (brincidofovir) among others, as well as contracts related to development of medical countermeasures; our ability to meet our commitments to quality and compliance in all of our manufacturing operations; our ability to negotiate additional USG procurement or follow-on contracts for our MCM products that have expired or will be expiring; the commercial availability and impact of a generic and competitive marketplace on future sales of NARCAN^® (naloxone HCL) Nasal Spray and over-the-counter NARCAN^® Nasal Spray; our ability to perform under our contracts with the USG, including the timing of and specifications relating to deliveries; the ability of our contractors and suppliers to maintain compliance with current good manufacturing practices and other regulatory obligations; our ability to negotiate new or further commitments related to the collaboration and deployment of capacity toward future commercial manufacturing related to our bioservices and under existing Bioservices contracts; our ability to collect reimbursement for raw materials and payment of service fees from our Bioservices customers; the results of pending government investigations and their potential impact on our business; our ability to satisfy the conditions of our litigation settlement agreements, and the potential impact of such agreements, including the funds to resolve related litigation, on our business; our ability to comply with the operating and financial covenants required by (i) our term loan facility under a credit agreement, dated August 30, 2024, among the Company, the lenders from time to time party thereto and OHA Agency LLC, as administrative agent, (ii) our revolving credit facility under a credit agreement, dated September 30, 2024, among the Company, certain subsidiary borrowers, the lenders from time to time party thereto and Wells Fargo, National Association, as Agent, and (iii) our 3.875% Senior Unsecured Notes due 2028; our ability to maintain adequate internal control over financial reporting and to prepare accurate financial statements in a timely manner; our ability to maintain sufficient cash flow from our operations to pay our substantial debt, both now and in the future; our ability to invest in our business operations as a result of our current indebtedness; the impact of our share and debt repurchase programs; the procurement of our product candidates by USG entities under regulatory authorities that permit government procurement of certain medical products prior to FDA marketing authorization, and corresponding procurement by government entities outside the United States; our ability to realize the expected benefits of the sale of our travel health business to Bavarian Nordic, the sale of our Drug Product facility in Baltimore-Camden to Bora Pharmaceuticals Injectables Inc., a subsidiary of Bora Pharmaceuticals Co., Ltd., the sale of RSDL^® to BTG International Inc., a subsidiary of SERB Pharmaceuticals and the sale of our Baltimore-Bayview drug substance manufacturing facility to Syngene International; our ability to realize the expected benefits from divestitures and restructuring activities; the success of our commercialization, marketing and manufacturing capabilities and strategy; our ability to identify and acquire companies, businesses, products or product candidates that satisfy our selection criteria; our ability to attract and retain qualified personnel; our ability to adequately secure and protect our intellectual property rights; our ability to realize the full benefits from our divestitures and sales of assets; the impact of cybersecurity incidents, including the risks from the unauthorized access, interruption, failure or compromise of our information systems or those of our business partners, collaborators or other third parties; and the accuracy of our estimates regarding future revenues, expenses, capital requirements and need for additional financing. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ materially from our expectations in any forward-looking statement. In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any forward-looking statements. Readers should consider this cautionary statement, as well as the risks identified in our periodic reports filed with the Securities and Exchange Commission, when evaluating our forward-looking statements.

Trademarks

Emergent^®, BioThrax^®, BaciThrax^®, BAT^®, Trobigard^®, Anthrasil^®, CNJ-016^®, ACAM2000^®, ​NARCAN^®, CYFENDUS^®, TEMBEXA^® and any and all Emergent BioSolutions Inc. brands, products, services and feature names, logos and slogans are trademarks or registered trademarks of Emergent BioSolutions Inc. or its subsidiaries in the United States or other countries. All other brands, products, services and feature names or trademarks are the property of their respective owners, including KLOXXADO^®, which is a registered trademark of Hikma Pharmaceuticals USA Inc.

EmblemHealth and Prime Therapeutics Pioneer New Pharmacy Benefit Collaboration




EmblemHealth and Prime Therapeutics Pioneer New Pharmacy Benefit Collaboration

Unique partnership, in collaboration with Amazon Pharmacy and Judi Health, brings transparent pricing, digital convenience, and fast, free home delivery of prescription medications for members

NEW YORK, Oct. 29, 2025 (GLOBE NEWSWIRE) — EmblemHealth, one of the largest not-for-profit health insurers in the nation, today announced a new pharmacy benefit collaboration with Prime Therapeutics LLC (Prime Therapeutics) designed to reshape the member experience surrounding prescription drugs. Together with Judi Health and Amazon Pharmacy as the preferred home delivery pharmacy partner, this collaboration will pioneer a new pharmacy benefit management approach focused on more competitive pricing and easier access to medications when and where members need them.

Prime Therapeutics is a trusted pharmacy solutions organization, which operates with a transparent and conflict-free pricing model. Through its agreement with Prime Therapeutics, EmblemHealth will utilize a unique technology-enabled platform that facilitates real-time, competitive referrals for specialty prescription drugs rather than relying on a specific network. This drives competitive pricing on some of the most expensive medications where the value is then passed directly to those it serves.

The collaboration also introduces advanced digital tools that give members greater visibility into their pharmacy benefits and prescription costs. Prime Therapeutics’ cloud-based solution Judi®, powered by Judi Health, operates on a cutting-edge digital platform that surfaces deep clinical insights as well as improved cost transparency. When combining Judi with utilization of a mobile app that provides real-time savings alerts, personalized medication comparisons, and digital access to their pharmacy benefits card, EmblemHealth is giving customers greater line of sight into the true cost of their medications.

Amazon Pharmacy will provide members with fast, reliable home delivery—often available same-day—transparent pricing, and 24/7 access to pharmacist support. Members will enjoy the seamless experience of buying their medication or ordering refills on their personal devices and having the medications quickly and conveniently delivered to their doorsteps. In addition to providing a digital experience through Amazon Pharmacy, EmblemHealth members will gain access to Prime Therapeutics’ robust network of pharmacies nationwide. 

“We are dedicated to providing a simpler and more transparent experience to members who have diverse needs and rely on their medications for their health and wellbeing,” stated EmblemHealth’s Chief Medical Officer, Dr. Daniel Knecht. “This strategic collaboration places our members at the forefront, ensuring they have an exceptional, convenient, and affordable solution that is both seamless and responsive to their unique healthcare journeys.”

For more information on EmblemHealth Plans or to speak to a specialist, call for help finding the right plan. Call 888-225-6133 (TTY: 711) seven days a week from 8:00 a.m. to 8:00 p.m.

About EmblemHealth

EmblemHealth is one of the nation’s largest not-for-profit health insurers, serving members across New York’s diverse communities with a full range of commercial and government-sponsored health insurance plans for employers, individuals, and families. With a commitment to value-based care, EmblemHealth partners with top hospitals and doctors, including its AdvantageCare Physicians, to deliver quality, affordable, convenient care. At more than a dozen EmblemHealth Neighborhood Care locations, members and nonmembers can receive community-based health and wellness guidance and resources. For more information, visit emblemhealth.com. 

About Prime Therapeutics

Prime Therapeutics LLC (Prime) is a pharmacy solutions partner that delivers savings, simplicity and support to customers and members. Prime provides care to millions of people across the country through pharmacy benefit management, specialty and medical drug management, and state government solutions. Prime creates a new standard for the industry by doing what’s right through a conflict-free approach, offering a holistic specialty experience, accessing the most modern technology, and emphasizing purpose beyond profits. To learn more, visit PrimeTherapeutics.com or follow Prime on LinkedIn.

Contact: 
EmblemHealth Public Relations Office | Email: press@emblemhealth.com

Tevogen Senior Management Engages with Business and Community Leaders and Highlights Recent Progress




Tevogen Senior Management Engages with Business and Community Leaders and Highlights Recent Progress

WARREN, N.J., Oct. 29, 2025 (GLOBE NEWSWIRE) — Tevogen (“Tevogen Bio Holdings Inc.” or “Company”) (Nasdaq: TVGN), in ongoing community, industry, and academic engagements, has continued to underscore its biopharma model centered on sustainability and patient affordability, highlighting the Company’s significant progress toward making precision medicine accessible to all.

“The full potential of T cell therapies has yet to be explored. To matter, they must be accessible, off-the-shelf, well tolerated with durable persistence, and, most importantly, affordable for the masses through low development costs,” Ryan Saadi, MD, MPH, Founder of Tevogen, shared while speaking to industry leaders. “Our biotech initiative is developing exactly that across cancers, neurologic diseases, and viral infections, and dose-finding clinical data for TVGN 489 align with this profile. With over 20 million Long COVID patients just in the U.S., and families contacting us from around the world about TVGN 489, we’re doing everything possible to expedite.”

“Tevogen is hoping to develop exactly that across cancers and viral infections and our dose-finding clinical data for TVGN 489 aligns with this profile. With over 20 million Long COVID patients just in the U.S., and families contacting us from around the world about TVGN 489, we’re doing everything possible to expedite.”

Recent Financial Announcements

• Values TVGN 489 at $9–$11 billion rNPV, its first clinical product from the proprietary ExacTcell™ allogeneic T cell platform.
• Estimates 5-Year top-line revenue of ∼$6.5 billion for product focused on liver cancer prevention with high-risk chronic Hepatitis B infection.

Recent Artificial Intelligence Announcements

• Tevogen.AI completes alpha and begins beta build of proprietary PredicTcell™ model with Microsoft and Databricks.
• Observes drastic time reduction in target analysis translating to potential savings of billions in drug development costs.
• Tevogen.AI receives international patent publication for AI technology predicting immunologically active peptides.

Recent Corporate Announcements

• Headquarters expanded to centralizes R&D and AI teams.
• Long COVID contact channel, longCOVID@tevogen.com, created which has received inquiries from every major continent, underscoring the global demand for durable solutions.

Intellectual Property:

Tevogen Bio received two granted patents in December 2021 and one in January 2022 from the United States Patent and Trademark Office (USPTO) for Covid-19 Peptide Specific T-Cells and Methods of Treating and Preventing Covid-19.

• Patent Number 11207401
• Patent Number 11219684
• Patent Number 11191827

In June 2022, a Patent Cooperation Treaty (PCT) application covering Virus Specific T-Cells and Methods of Treating and Preventing Viral Infections was published. This application entered the National Stage in the US, Australia, Canada, Europe, Hong Kong, and Japan.

• Publication Number WO 2022/125746

In February 2023, a PCT application covering Methods for Developing CD3+CD8+ Cells Against Multiple Viral Epitopes for Treatment of Viral Infections Including Variants Evolving to Escape Previous Immunity was published. This application entered the National Stage in the US, Australia, Canada, Europe, Japan, Qatar, Saudi Arabia, and United Arab Emirates.

• Publication Number WO 2023/009770

In June 2025, a PCT application covering Systems and Methods for Predicting Immunologically Active Peptides with Machine Learning Models was published.

• Publication Number WO2025/129197

Tevogen Bio also has one provisional patent application in place as of December 2024 for its approach to leveraging artificial intelligence in expediting target detection to accelerate product development:

• AI Algorithms to Predict T Cell Receptor Engagement to Specific HLA+ Peptide Complexes

Forward Looking Statements

This press release contains certain forward-looking statements, including without limitation statements relating to: Tevogen’s plans for its research and manufacturing capabilities; expectations regarding future growth; expectations regarding the healthcare and biopharmaceutical industries; and Tevogen’s development of, the potential benefits of, and patient access to its product candidates for the treatment of infectious diseases and cancer. Forward-looking statements can sometimes be identified by words such as “may,” “could,” “would,” “expect,” “anticipate,” “possible,” “potential,” “goal,” “opportunity,” “project,” “believe,” “future,” and similar words and expressions or their opposites. These statements are based on management’s expectations, assumptions, estimates, projections and beliefs as of the date of this press release and are subject to a number of factors that involve known and unknown risks, delays, uncertainties and other factors not under the company’s control that may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations expressed or implied by these forward-looking statements.

Factors that could cause actual results, performance, or achievements to differ from those expressed or implied by forward-looking statements include, but are not limited to: that Tevogen will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; changes in the markets in which Tevogen competes, including with respect to its competitive landscape, technology evolution, or regulatory changes; changes in domestic and global general economic conditions; the risk that Tevogen may not be able to execute its growth strategies or may experience difficulties in managing its growth and expanding operations; the risk that Tevogen may not be able to develop and maintain effective internal controls; the failure to achieve Tevogen’s commercialization and development plans and identify and realize additional opportunities, which may be affected by, among other things, competition, the ability of Tevogen to grow and manage growth economically and hire and retain key employees; the risk that Tevogen may fail to keep pace with rapid technological developments to provide new and innovative products and services or make substantial investments in unsuccessful new products and services; risks related to the ability to develop, license or acquire new therapeutics; the risk of regulatory lawsuits or proceedings relating to Tevogen’s business; uncertainties inherent in the execution, cost, and completion of preclinical studies and clinical trials; risks related to regulatory review, approval and commercial development; risks associated with intellectual property protection; Tevogen’s limited operating history; and those factors discussed or incorporated by reference in Tevogen’s Annual Report on Form 10-K.

You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Tevogen undertakes no obligation to update any forward-looking statements, except as required by applicable law.

Contacts

Tevogen Bio Communications

T: 1 877 TEVOGEN, Ext 701

Communications@Tevogen.com

CORRECTION – Solana Company Announces Updated SOL Holdings and Industry Leading Staking Yield




CORRECTION – Solana Company Announces Updated SOL Holdings and Industry Leading Staking Yield

NEWTOWN, Pa., Oct. 29, 2025 (GLOBE NEWSWIRE) — In a release issued under the same headline on Wednesday, October 29th by Solana Company (NASDAQ: HSDT), please note that in the first sentence of the third paragraph, the increase of the amount of “SOL” held should be roughly 0.1 million, not 1 million. The corrected release follows: 

Solana Company (NASDAQ: HSDT) (the “Company” or “HSDT”) today announced its updated Solana (“SOL”) token and cash holdings as of Oct. 29 at 12:00 am ET, as well as its current staking performance.

This update reflects the Company’s continued execution of its mission to maximize SOL per share through disciplined execution of its digital asset treasury strategy including capital deployment, active onchain management, and transparent reporting.

As of Oct. 29, the Company and its subsidiaries collectively hold over 2.3 million SOL, which is an increase of roughly 0.1 million since our last update on Oct. 6. The Company and its subsidiaries also collectively hold in excess of $15 million of cash and stablecoins, which it intends to use to further the digital asset strategy.

For the month of October through October 27^th (the latest complete epoch), the Company’s average gross staking yield was 7.03% APY. This performance was approximately 36 basis points better than the 6.67% APY stake-weighted average of the top 10 validators over that same period. Solana Company’s SOL holdings are primarily staked through institutional-grade validator infrastructure, with rewards automatically restaked to compound returns. This staking yield translates to consistent daily onchain revenue generation while preserving full liquidity and custody of underlying assets.

“Our strategy integrates disciplined capital markets execution with high-performance on–chain yield,” said Cosmo Jiang, General Partner at Pantera Capital and Board Observer at the Company. “HSDT has increased its SOL holdings by roughly 5% in less than a month. Additionally, with a gross staking yield of over 7%, our Solana holdings are compounding and outperforming benchmarks by more than 35 basis points. This consistent alpha demonstrates the strength of our active management mode, which captures both onchain productivity and capital markets efficiency.”

“Institutional engagement with Solana Company has accelerated following key network milestones and ecosystem developments,” said Joseph Chee, Executive Chairman of Solana Company and Chairman of Summer Capital. “We remain focused on transparency and growth, operating at the intersection of capital markets and blockchain innovation. The goal is to develop a compounding vehicle that grows intrinsic value through disciplined capital allocation and long-term alignment with the Solana network’s success.”

Solana remains one of the world’s fastest-growing blockchain networks, processing over 3,500 transactions per second and maintaining approximately 3.7 million daily active wallets. The network is among the leaders in transaction revenue and user adoption, offering an estimated 7% native staking yield, positioning SOL as a financially productive asset for long-term treasuries.

Created in partnership with Pantera Capital and Summer Capital, The Solana Company serves as the market’s dedicated vehicle for institutional participation in the Solana ecosystem. Its approach integrates capital markets access, onchain management, and long-term staking to compound SOL-denominated returns. Through transparent disclosures on asset composition, yield, and performance, the Company provides investors with a structured, regulated channel to capture Solana’s growth.

For additional information, including the latest Chairman’s Note and corporate presentation, please visit https://www.solanacompany.co/investor-relations.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements are statements other than historical facts and include, without limitation, statements regarding the potential for and amount of additional cash proceeds from warrant exercises, the anticipated use of proceeds from the announced Offering, future stockholder approvals, future announcements and priorities, expectations regarding management, corporate governance, market position, business strategies, future financial and operating performance, and other projections or statements of plans and objectives.

These forward-looking statements are based on current expectations, estimates, assumptions, and projections, and involve known and unknown risks, uncertainties, and other factors—many of which are beyond the Company’s control—that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Important factors that may affect actual results include, among others, the Company’s ability to execute its growth strategy; its ability to raise and deploy capital effectively; developments in technology and the competitive landscape; the market performance of SOL; and other risks and uncertainties described under “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the SEC on March 25, 2025, and in other subsequent filings with the SEC. These filings are available at www.sec.gov. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

About Solana Company
Solana Company (NASDAQ: HSDT) is a listed digital asset treasury dedicated to acquiring and holding Solana (SOL). Created in partnership with Pantera Capital and Summer Capital, Solana Company’s objective is to maximize SOL per share through strategic use of capital markets and onchain opportunities, offering public market investors direct exposure to Solana’s secular growth.

For more information, please visit www.solanacompany.co or follow us on X (@Solana_Company).

Media Contacts:

Neutrolis Presented First-in-Human Proof-of-Concept Data Validating DNASE1L3-Mediated Neutrophil Extracellular Trap (NET) Clearance as a Therapeutic Approach in Autoimmunity at American College of Rheumatology Convergence 2025




Neutrolis Presented First-in-Human Proof-of-Concept Data Validating DNASE1L3-Mediated Neutrophil Extracellular Trap (NET) Clearance as a Therapeutic Approach in Autoimmunity at American College of Rheumatology Convergence 2025

– First-in-human data validating direct targeting of NETs as a novel therapeutic approach in autoimmunity and inflammatory diseases

– DNASE1L3 analogue therapy degrades NETs and results in rapid, multi-organ clinical response in treatment-refractory systemic lupus erythematosus (SLE) with DNASE1L3-Deficiency

– Building on these results, Neutrolis is advancing its next-generation DNASE1L3 analogue into Phase 2a trials in SLE and Rheumatoid Arthritis (RA) in 2026

CAMBRIDGE, Mass., Oct. 29, 2025 (GLOBE NEWSWIRE) — Neutrolis Inc., a clinical-stage biotech company focused on targeting Neutrophil Extracellular Traps (NETs) to revolutionize the treatment of inflammatory disorders, today announced positive first-in-human clinical data demonstrating that its DNASE1L3 analogue achieved rapid, multi-organ clinical improvement and robust target engagement consistent with its mechanism of NET degradation. The results support NET clearance as a novel, disease-modifying approach in SLE and other autoimmune and inflammatory disorders. Full data was presented today at the American College of Rheumatology (ACR) Convergence 2025 8:45 AM CT in Chicago.

“SLE and RA are typically managed with immunosuppressive drugs to reduce inflammation and prevent the immune system from attacking healthy tissues, however, these treatments can increase the risk of infections and other complications,” said Daniel Wallace, M.D., Professor of Medicine, Cedars-Sinai Medical Center at the David Geffen School of Medicine at UCLA. “There is a significant unmet medical need for new non-immunosuppressive therapies such as DNASE1L3 analogues that is designed to clear NETs and has the potential to reduce disease activity without compromising the adaptive immune system’s ability to fight infections.”

The early clinical development program consisted of a Phase 1a/b study (NCT04941183) and a compassionate use program. The Phase 1a/b study evaluated Neutrolis’s DNASE1L3 analogue therapy in both healthy volunteers and patients with high NET burden. The placebo-controlled, double-blind, single ascending dose study enrolled 35 healthy adults and 16 hospitalized patients with severe COVID-19, a disease characterized by elevated NET formation, across dose levels ranging from 0.01 to 10 mg/kg. In addition, the therapy was administered under compassionate use to a 16-year-old patient with severe, treatment-refractory SLE with DNASE1L3-deficiency. This patient, who presented with longstanding multi-organ involvement, received five weekly doses of 3 mg/kg alongside standard-of-care therapies. Treatment resulted in rapid (within six hours) and sustained clinical improvement across multiple organ systems, including resolution of vasculitic rash, complete resolution of active arthritis, and improvement in episcleritis.

“We are encouraged by these preliminary findings, which add to the growing body of evidence that NETs play a central role in autoimmunity,” said Andreas Reiff, M.D., Chief Medical Officer of Neutrolis. “The temporal association observed between NET reduction and clinical improvement in this patient suggests that DNASE1L3 therapy has the potential to address disease at its source. These results provide important guidance as we design future studies aimed at evaluating this mechanism across a broader patient population.”

Across all clinical data, DNASE1L3 therapy was generally well tolerated and produced robust, sustained increases in circulating DNASE1L3 levels. Infusion-related reactions were uncommon. Pharmacodynamic activity consistent with NET degradation was demonstrated by increases in MPO–DNA complexes and cell-free DNA in both the SLE and COVID-19 cohorts as early as four hours post-infusion, with no such changes observed in healthy volunteers.

Advancement of Next-Generation DNASE1L3 Analogue (NTR-1011)

Building on these findings, Neutrolis has advanced NTR-1011, an optimized DNASE1L3 analogue fused to human serum albumin designed for subcutaneous delivery with enhanced stability and pharmacokinetics. NTR-1011 represents the lead program within Neutrolis’s exDNASE™ platform, maintaining the validated mechanism of restoring NET clearance demonstrated with NTR-441. Phase 2a studies in patients with SLE and RA are planned in 2026.

Podium Presentation Details:

Title: Early Evidence of Proof-of-Concept of an Albumin-DNASE1L3 Fusion Protein (NTR-441) for the Rapid Enzymatic Inactivation of NETs in SLE with DNASE1L3-Deficiency

Presenter: Toby Fox, PhD, Co-founder and Chief Scientific Officer of Neutrolis

Abstract Number: LB22

Session Name: (LB19–LB24) Late-Breaking Abstracts

Session Date/Time: Wednesday, October 29, 8:00 AM – 9:30 AM CT

Presentation Time: 8:45 AM – 9:00 AM CT

About Neutrolis Inc.

Neutrolis is a clinical-stage biotechnology company pioneering a new class of rapid-acting, non-immunosuppressive therapies that directly target Neutrophil Extracellular Traps (NETs), a root cause of tissue damage and chronic inflammation. Unlike conventional approaches that broadly suppress immune responses, Neutrolis’s therapies harness the body’s own mechanisms to precisely degrade and inactivate NETs, offering broad potential across inflammatory disorders.

The company’s lead program, based on DNASE1L3, is the first therapeutic strategy designed to dismantle pathogenic NETs and prevent their downstream inflammatory effects, restoring immune balance. By targeting this upstream driver of disease, Neutrolis aims to deliver transformational, disease-modifying treatments for conditions such as lupus, rheumatoid arthritis and other chronic immune disorders with high unmet need where current therapies remain inadequate.

For more information, please visit www.neutrolis.com.

Investor Contact/ Media Contact

ir@neutrolis.com

Virginia Cannabis Dispensary Cannisco Unveils New Brand Identity as East Coast Collective Transitions




Virginia Cannabis Dispensary Cannisco Unveils New Brand Identity as East Coast Collective Transitions

Shenandoah Valley-Based Hemp Company Rebrands to Reflect Commitment to Quality, Integrity, and Seed-to-Sale Excellence

Shenandoah Valley, Virginia, Oct. 29, 2025 (GLOBE NEWSWIRE) — Cannisco, formerly East Coast Collective, today announced its complete brand transformation, marking a new chapter for one of Virginia’s most trusted vertically integrated hemp and cannabis wellness companies. The rebrand reflects the company’s unwavering commitment to transparency, local craftsmanship, and delivering products that customers can trust completely.

Cannisco co-founders at their Shenandoah Valley cultivation facilities, where locally grown hemp becomes trusted wellness products.

Founded by Eric Spanbauer and Brett Gauthier, Cannisco operates from its headquarters in Manassas with cultivation facilities nestled in Virginia’s fertile Shenandoah Valley. The company maintains complete oversight of its entire production process, from seed to sale, ensuring every tincture, edible, topical, and flower product meets rigorous quality standards.

Addressing an Industry Trust Gap

Today’s cannabis and hemp consumers navigate a confusing marketplace flooded with brands that make ambitious promises but often fall short on quality, safety, and transparency. In an industry still earning public trust, Cannisco emerges as a company that values integrity as much as innovation, offering customers clarity in a crowded field.

“Our goal has always been to build something that stands apart, something built on integrity,” said a media spokesperson at Cannisco. “With this rebrand, we’re making it clear who we are and what we stand for. This is more than a new name—it’s the start of a new chapter for us and for Virginia’s hemp community, one where customers know their wellness products are made with care, honesty, and accountability.”

Vertical Integration Ensures Quality at Every Step

Cannisco’s seed-to-sale model sets the company apart in Virginia’s hemp industry. By maintaining direct oversight of cultivation, processing, and product development, Cannisco eliminates the uncertainties that plague many competitors. The company partners exclusively with certified processors and employs CO₂ extraction methods to preserve purity and potency. Each batch undergoes third-party lab testing to ensure safety, consistency, and regulatory compliance.

This meticulous approach reflects Cannisco’s core mission: to create products with no mystery ingredients, no vague sourcing, and no compromise on quality. The company’s Shenandoah Valley cultivation facility benefits from the region’s ideal growing conditions, while its Manassas headquarters serves as the hub for innovation and customer service.

A Statement of Purpose

The transition from East Coast Collective to Cannisco represents more than aesthetic changes. It’s a bold declaration of the company’s values and vision for the future of hemp wellness. Cannisco aims to be recognized not only for its exceptional products but also for its principles, establishing itself as the best cannabis dispensary in Virginia for consumers seeking transparency and craftsmanship in every purchase.

The rebrand positions Cannisco to redefine modern hemp wellness through clean, sustainable, and locally crafted products. By embracing radical transparency and uncompromising quality standards, the company invites consumers to experience hemp not as a commodity but as a cultivated expression of trust between grower and customer.

About Cannisco

Cannisco is a vertically integrated hemp and cannabis wellness company based in Manassas, Virginia, with cultivation operations in the Shenandoah Valley. The company specializes in premium CBD and cannabis products, including tinctures, edibles, topicals, and flower, all produced under direct oversight from seed to sale. Cannisco partners with certified processors, utilizes CO₂ extraction methods, and subjects every batch to third-party lab testing to ensure the highest standards of safety, purity, and potency. For more information, visit CanniscoHemp.com.

Frequently Asked Questions

Q: What makes Cannisco different from other cannabis dispensaries in Virginia?

A: Cannisco operates as a vertically integrated, seed-to-sale company, meaning they maintain complete oversight of cultivation, processing, and product development. Their products are grown in Virginia’s Shenandoah Valley, processed using CO₂ extraction methods, and undergo third-party lab testing for safety and potency. This transparency and local craftsmanship set Cannisco apart from competitors who may rely on external suppliers or less rigorous quality control measures.

Q: Why did East Coast Collective rebrand to Cannisco?

A: The rebrand reflects the company’s evolution and commitment to transparency, quality, and integrity in the hemp and cannabis industry. Founders Eric Spanbauer and Brett Gauthier chose the new name to clearly communicate their values and vision: providing customers with trustworthy, locally crafted wellness products backed by rigorous testing and honest sourcing practices.

Q: What types of products does Cannisco offer?

A: Cannisco offers a comprehensive line of CBD and cannabis wellness products, including tinctures, edibles, topicals, and flower. All products are cultivated in the Shenandoah Valley, processed with CO₂ extraction to preserve purity, and third-party lab tested to ensure consistency, safety, and compliance with regulatory standards.

Cannisco champions transparency and quality with its seed-to-sale approach to hemp and cannabis wellness products.

About Cannisco

Cannisco is a vertically integrated hemp dispensary based in Virginia, managing its operations from seed to sale. They grow their hemp in the Shenandoah Valley, partner with certified processors for CO₂ extraction, and subject every batch to third-party lab testing to ensure safety, compliance, and potency. Cannisco offers a curated lineup of premium CBD, THC, and full-spectrum hemp wellness products — from edibles, tinctures, and topicals to flower — all crafted with transparency and care.

Press inquiries

Cannisco
https://canniscohemp.com
Gemma Mora
ghm@eastcoastcollective.com
571-206-4878
1057 US-211
Luray, VA
22835

MapLight Therapeutics Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares




MapLight Therapeutics Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional Shares

SAN FRANCISCO and BOSTON, Oct. 29, 2025 (GLOBE NEWSWIRE) — MapLight Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on improving the lives of patients suffering from debilitating central nervous system disorders, today announced the closing of its initial public offering of 16,962,500 shares of common stock at an initial public offering price of $17.00 per share, which includes the exercise in full by the underwriters of their option to purchase an additional 2,212,500 shares of common stock.

In addition to the shares sold in the initial public offering, MapLight announced the closing of the concurrent sale of 476,707 shares of common stock at the initial public offering price per share in a private placement to affiliates of Goldman Sachs & Co. LLC, including certain investment funds managed by Goldman Sachs & Co. LLC. The sale of the shares of common stock in the private placement was not registered under the Securities Act of 1933, as amended (the “Securities Act”). 

The gross proceeds to MapLight from the initial public offering and the concurrent private placement, before deducting underwriting discounts and commissions and offering expenses, were $296.3 million. All of the shares of common stock were offered by MapLight.

The shares began trading on the Nasdaq Global Select Market on October 27, 2025 under the symbol “MPLT.”

Morgan Stanley, Jefferies, Leerink Partners and Stifel acted as joint book-running managers for the offering.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission, and became automatically effective on October 25, 2025 pursuant to Section 8(a) of the Securities Act. The offering of the shares is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@leerink.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, or by email at syndprospectus@stifel.com.

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

About MapLight

MapLight Therapeutics is a clinical-stage biopharmaceutical company focused on improving the lives of patients suffering from debilitating central nervous system disorders. The company was founded by globally recognized leaders in psychiatry and neuroscience research to address the lack of circuit-specific pharmacotherapies available for patients. MapLight’s lead product candidate, ML-007C-MA, is an oral, extended-release, fixed-dose combination of an investigational M1/M4 muscarinic agonist, ML-007, co-formulated with a peripherally acting anticholinergic. ML-007C-MA is currently being evaluated in Phase 2 clinical trials for the treatment of schizophrenia and Alzheimer’s disease psychosis.

For investor inquiries: investors@maplightrx.com

For media inquiries: media@maplightrx.com

Lite Strategy Announces $25M Share Repurchase Program, Signaling Shift From Initial Litecoin Accumulation to Active Capital Market Operations




Lite Strategy Announces $25M Share Repurchase Program, Signaling Shift From Initial Litecoin Accumulation to Active Capital Market Operations

LITS Board of Directors Reaffirms Commitment to Driving Long-Term Stockholder Value

SAN DIEGO, Oct. 29, 2025 (GLOBE NEWSWIRE) — Lite Strategy, Inc. (NASDAQ: LITS) (“Lite Strategy” or “LITS”) today announced its Board of Directors has authorized a program to repurchase shares of the Company’s Common Stock, par value $0.00000002 per share (the “Common Stock”), up to an aggregate amount of $25 million. The share repurchase program is effective immediately, and provides for shares to be repurchased in the open market or through negotiated transactions.

“Our top priority is to enhance stockholder value,” said Board Member Joshua Riezman, U.S. Chief Strategy Officer at GSR, which is advising the Company on its treasury strategy, “and the share repurchase program is one of the tools LITS can now use to optimize its nearly 1 million Litecoin treasury and deliver potentially accretive returns to stockholders. When LITS trades at a material discount to mNAV, we have the ability to use the repurchase program to step in and buy back shares. Conversely, when the stock trades at a premium to mNAV, we can use our existing at-the-market offering program to sell stock in order to raise capital to acquire additional Litecoin over the long-term. This disciplined flexibility has the potential to set true active digital asset treasury companies apart from passive structures like exchange-traded funds, by being able to adapt and monetize changing market conditions.”

The Company may in the future enter into a Rule 10b5-1 trading plan to effect a portion of the authorized purchases, if criteria set forth in the plan are met. Such a plan would enable the Company to repurchase its shares during periods outside of its normal trading windows, when the Company typically would not be active in the market.

The time of purchases and the exact number of shares to be purchased under the share repurchase program will depend on market conditions. The share repurchase program does not include specific price targets or timetables and may be suspended or terminated by the Company at any time. The Company intends to finance the purchases using available working capital.

About Lite Strategy, Inc. (LITS)

Lite Strategy, Inc. (NASDAQ: LITS) is the first U.S.-listed public company to adopt Litecoin as its primary reserve asset. Formerly MEI Pharma, the Company has expanded its business model beyond its portfolio of drug candidates to focus on pioneering institutional-grade digital asset treasury strategies, in partnership with leading innovators across blockchain, finance, and technology.

For more information, please visit https://litestrategy.com/.

Forward-Looking Statements

Certain information contained in this press release that are not historical in nature are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 including, without limitation, statements regarding our future actions, prospective products and activities, future performance or results. You should be aware that our actual results could differ materially from those contained in the forward-looking statements, which are based on management’s current expectations and are subject to a number of risks and uncertainties, including, but not limited to, risk relating to being able to repurchase our shares in the market on attractive e terms or at all, maintaining our current listing on Nasdaq, our ability to retain and attract senior management and other key employees, fluctuations in the market price of LTC and any associated impairment charges that we may incur as a result of a decrease in the market price of LTC below the value at which LTC is carried on our balance sheet, changes in the accounting treatment relating to our LTC holdings, our ability to achieve profitable operations, government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services including our LTC treasury strategy, the demand for our products and our customers’ economic condition, the impact of competitive products and pricing, our proprietary rights, general economic conditions and other risk factors detailed in our annual report and other filings with the SEC. We do not intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements.

Contacts:

Justin J. File

Acting CEO, CFO

858-369-7199

investor@litestrategy.com

Source: Lite Strategy, Inc.

Creative Medical Technology Holdings Announces Agreements for Exercise of Warrants for $4.2 Million Gross Proceeds




Creative Medical Technology Holdings Announces Agreements for Exercise of Warrants for $4.2 Million Gross Proceeds

PHOENIX, Oct. 29, 2025 (GLOBE NEWSWIRE) — Creative Medical Technology Holdings, Inc., (Nasdaq: CELZ) (the “Company”), a clinical-stage biotechnology company pioneering regenerative immunotherapy, today announced that it has entered into agreements with certain holders of its existing warrants for the immediate exercise of outstanding warrants to purchase up to an aggregate of 1,116,136 shares of common stock of the Company originally issued in March 2025, at their current exercise price of $3.75 per share. The shares of common stock issuable upon exercise of the existing warrants are registered pursuant to an effective registration statement on Form S-3 (File No. 333-286346). The aggregate gross proceeds from the exercise of the existing warrants is expected to total approximately $4.2 million, before deducting financial advisory fees.

Roth Capital Partners is acting as the Company’s financial advisor for this transaction.

In consideration for the immediate exercise of the existing warrants for cash, the Company will issue new unregistered warrants to purchase shares of common stock. The new warrants will be exercisable for an aggregate of up to 2,790,340 shares of common stock, at an exercise price of $3.75 per share, subject to the reduction of such exercise price to the lowest “VWAP” of the Company’s common stock on any trading day during the five trading day period following the issuance date of the new warrants. The new warrants will be exercisable for a period of five years following shareholder approval of the exercise of the warrants. As part of the transaction, the Company also agreed to reduce the exercise price of certain warrants issued in May 2022 to $4.73 per share.

The transaction is expected to close on or about October 29, 2025, subject to satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

The new warrants described above were offered in a private placement pursuant to an applicable exemption from the registration requirements of the Securities Act of 1933, as amended (the “1933 Act”) and, along with the shares of common stock issuable upon their exercise, have not been registered under the 1933 Act, and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (“SEC”) or an applicable exemption from such registration requirements. The Company has agreed to file a registration statement with the SEC covering the resale of the shares of common stock issuable upon exercise of the new warrants.

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

About Creative Medical Technology Holdings, Inc. 

Creative Medical Technology Holdings, Inc. is a clinical-stage biotechnology company pioneering regenerative medicine solutions across multiple indications. The Company leverages cutting-edge cell therapy technologies to develop transformative treatments aimed at improving patient outcomes.

Forward-Looking Statements

This news release may contain forward-looking statements, including but not limited to comments regarding the closing of the offering and the use of proceeds therefrom, the timing and content of upcoming clinical trials and laboratory results, marketing efforts, funding, etc. Forward-looking statements address future events and conditions, which may involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. See the periodic and other reports filed by Creative Medical Technology Holdings, Inc. with the Securities and Exchange Commission and available on the Commission’s website at www.sec.gov.

Contact: 

Creative Medical Technology Holdings, Inc.
IR@CreativeMedicalTechnology.com

Investor Relations:
Devin Sullivan, Managing Director
The Equity Group Inc.
dsullivan@equityny.com

National Survey Reveals Persistent Gaps in Pediatric Care Experiences Among U.S. Families




National Survey Reveals Persistent Gaps in Pediatric Care Experiences Among U.S. Families

Zarminali Pediatrics releases data emphasizing the need for more connected, coordinated care

CHICAGO, Oct. 29, 2025 (GLOBE NEWSWIRE) — Zarminali Pediatrics, the first outpatient pediatric destination purpose-built to provide elevated, seamlessly coordinated primary and specialty care nationwide, today released comprehensive findings from a new survey of U.S. parents that highlight the need for more accessible, tech-forward solutions.

Zarminali conducted the survey to better understand the evolving needs of today’s families, gathering insights that will directly inform their development of a more modern, multispecialty pediatric practice. Key findings from the survey include:

• Parents need more accessible care: 95% of parents noted the importance of being able to reach their pediatrician’s office outside of business hours. During regular hours, 52% have had to delay or skip a visit due to limited availability; despite this, only 13% used telehealth as an alternative.
• Parents need clearer communication: Around 56% of parents feel rushed through appointments, with 48% leaving appointments feeling unclear about next steps.
• Parents want seamless coordination: 79% of parents have to repeatedly share their child’s medical history because different providers don’t have shared access to information. Nearly 90% of parents said a centralized system for their child’s full health history would be helpful, yet only 1 in 10 have access to a centralized Electronic Health Record (EHR).
• Parents want technology that works for them: Approximately half of parents would feel more supported if they had access to easy-to-use patient portals (50%) or a mobile app (48%) for resources and communication. While parents across generations see digital tools as a valuable source of support, their specific preferences differ by age group. For example, Millennial parents are significantly more likely to favor mobile apps, 46% compared to 27% of Gen X parents.

Read the full report and its findings here.

“Our national survey confirmed that parents across the country are ready for a new model of care that addresses the growing health challenges facing our kids,” said Danish Qureshi, founder and CEO of Zarminali Pediatrics. “The time for simply patching a broken system is past us. The future of pediatric care lies in a new, collaborative approach that delivers compassionate, tech-enabled support tailored to the unique needs of every family.”

The survey’s findings come as Zarminali recently welcomed its new Chief Technology Officer, Syed Hassan, who will lead the company’s efforts to bridge the gaps in care that parents and clinicians are navigating with innovative, thoughtful technology. Hassan brings over 20 years of experience designing thoughtful technology platforms for consumers across healthcare and beyond, most notably driving development of an industry-leading healthcare platform at Hims & Hers.

Since launching in late 2024, Zarminali has grown its footprint rapidly. Earlier this month, the company unveiled its first de novo clinic, built from the ground up in Michigan. The newest location marks five clinics in the state, with more on the way. Today, Zarminali has clinics across two states with plans for eight additional states in the coming months. Guided by data-driven insight and close partnerships with families, Zarminali is building a collaborative pediatric care experience that reflects the needs of families nationwide.

To visit Zarminali Pediatrics or learn more about how the company is shaping the future of comprehensive, family-centered care at a national scale, check out their website: zarminali.com  

About Zarminali Pediatrics
Zarminali Pediatrics is building the nation’s leading pediatric multispecialty group, focused on supporting families to shape healthy futures for their children – from birth through adulthood – by completely transforming the way pediatric care is delivered nationwide. Zarminali is tackling today’s challenges of increased administrative burden on clinicians and a siloed approach to pediatric care through intentional design of care delivery, enhanced by leading technology and collaborative, expert care teams. We are leading the way towards a healthier future for pediatric patients and a happier future for pediatric clinicians nationwide. Visit zarminali.com for more information or follow our journey to provide more connected care on Facebook, Instagram or LinkedIn.

Media Contact
LaunchSquad for Zarminali Pediatrics
zarminali@launchsquad.com