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Celyad Oncology reports full year 2025 financial results and business highlights

On April 2, 2026 Celyad Oncology (Euronext: CYAD) (the "Company"), reported its financial results for the fiscal year ended December 31, 2025, and provides a business update.

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2025 business and operational highlights

The Company remains focused on partnering its intellectual property and has progressed in the discussions with potential partners for selected out-licensing of its technologies;
The Company discontinued its R&D activities and sold its research facility for €3 million.
Full year 2025 financial review

As of December 31, 2025, the Company’s Treasury position amounts to €1.7 million.

The Company projects that its existing cash and cash equivalents should be sufficient to fund operating expenses and capital expenditure requirements into third quarter 2026. Hence, its existing cash and cash equivalents will not be sufficient to fund its estimated operating and capital expenditures over at least the next 12 months from the date that the financial statements are issued.

Key financial figures for full-year 2025, compared with full-year 2024, are summarized below:

Selected key financial figures (€ millions) Full year 2025 Full year 2024
Revenue 0.02 0.2
Research and development expenses (3.4) (3.2)
General and administrative expenses (3.8) (3.2)
Other income/(expenses) 8.3 0.4
Operating profit/loss 0.9 (5.9)
Profit/loss for the period/year 0.8 (5.8)
Net cash used in operations (2.5) (2.8)
Treasury position (1) 1.7 4.2
(1) "Treasury position" is an alternative performance measure determined by adding Short-term investments and Cash and cash equivalents from the statement of financial position prepared in accordance with IFRS. Management’s purpose of this measure is to identify the level of cash available internally (excluding external sources of financing) within 12 months.

Research and Development (R&D) expenses were €3.4 million in 2025 as compared to €3.2 million in 2024, a year-over-year increase of €0.2 million. The increase in the Company’s R&D expenses is a consequence of the Company’s decision to discontinue its R&D activities and to restructure its organization accordingly and which has driven severance and other termination‑related costs incurred as part of the phased reduction of R&D operations.

General and Administrative (G&A) expenses were €3.8 million in 2025 as compared to €3.2 million in 2024, a increase of €0.6 million. General and administration expenses increased mainly due to higher employee expenses and share-based payments, mainly reflecting severance and other termination‑related costs incurred; these increases were partially offset by a decrease in consulting fees as reliance on external advisors declined in line with the scaled‑back corporate activities.

Until December 31, 2025, Management has determined that there has been no event (such as a firm sublicense or collaboration contract) that led to a change in fair value of the contingent consideration and other financial liabilities towards Dartmouth and Celdara.

The Company’s other income increased by €7.8 million mainly due to three elements:

• Grant income that resulted from the Company’s decision to stop several subsidized research contracts with the Walloon Region and to transfer the rights on the related research results to the Walloon Region;

• R&D tax credit: the current year income increases compared to December 31, 2024, due to the derecognition of the related liability as the conditions for recognizing the underlying grant income are fully fulfilled end of 2025;

• The gain on sale of property, plant and equipment in 2025 amounts to €2,3 million and relates to the Company’s divestment of its research facility in Mont‑Saint‑Guibert. Under the terms of an asset purchase agreement, the Company sold the research facility’s laboratory equipment and office furniture for a total consideration of €3 million.

Net profit for the year ending December 31, 2025, was €0.8 million, or €0.018 per share, compared to a net loss of €5.8 million, or 0.14€ per share, for the same period in 2024. The decrease in net loss between periods are primarily due to the elements explained here above.

Net cash used in operations for the year ending December 31, 2025, which excludes non-cash effects, amounted to €6.9 million, which is above the net cash used in operations of €5.7 million for the year ended December 31, 2024.

Alarm bell status

The net assets of the Company per 31 December 2025, on a BE-GAAP non-consolidated basis, having fallen below twenty-five percent of the Company’s capital, the board of directors will submit to the ordinary shareholders meeting on the 20th of May 2026 the proposal to continue the Company’s activities in accordance with article 7:228 of the Belgian Code for Companies and Associations. The board of directors will publish a special report in this respect, by the 17th of April 2026, together with the convening notice with proposed resolutions for the shareholders’ meeting.

Annual Report 2025

The Annual Report for the year ended December 31, 2025, will be published on April 02, 2026, and will be available on the Company’s website, www.celyad.com. The Company’s statutory auditor, BDO Réviseurs d’Entreprises SRL (or ‘BDO’), has confirmed that the completed audit has not revealed any material misstatement in the consolidated financial statements but that they will include in their audit opinion a paragraph referring to the existence of a material uncertainty about going concern. This was already the case last year and BDO also confirmed that the accounting data reported in the press release are consistent, in all material respects, with the consolidated financial statements from which it has been derived.

Financial Calendar 2026

May 20th, 2026 Annual shareholders meeting
September 23th, 2026 First Half 2026 Interim Results
The financial calendar is communicated on an indicative basis and may be subject to change.

(Press release, Celyad, APR 2, 2026, View Source [SID1234664147])

Calidi Biotherapeutics to Present New Data on Its Lead Asset CLD-401 at the AACR Annual Meeting in April 2026

On April 2, 2026 Calidi Biotherapeutics, Inc. (NYSE American: CLDI) ("Calidi" or the "Company"), a biotechnology company pioneering the development of targeted genetic medicines, reported it will present new data at the American Association of Cancer Research (AACR) (Free AACR Whitepaper) annual meeting in San Diego, California from April 17-22, 2026. The Company will showcase new data on CLD-401, a systemically delivered oncolytic virus that is designed to express high levels of IL-15 superagonist ("IL-15 SA") only in the tumor microenvironment ("TME"), currently in IND-enabling studies.

CLD-401 is the lead candidate from the Company’s RedTail platform, a systemically delivered virotherapy platform designed to selectively target tumors, remodel the TME, and enable high-level expression of therapeutic genetic payloads directly within the tumor. CLD-401 is engineered to express high levels of IL-15 SA, a known T- and NK-cell activator, in the TME. Data at AACR (Free AACR Whitepaper) will detail the pattern of CLD-401 mediated-IL-15 SA expression and the subsequent immune changes in the TME, leading to a robust therapeutic response. The Company expects to file an IND for CLD-401 by the end of 2026.

"We continue to advance the RedTail platform and its breakthrough capabilities through our lead asset, CLD-401," said Eric Poma, PhD, Chief Executive Officer of Calidi. "We expect to file an IND for CLD-401 by end of 2026 and enter the clinic shortly thereafter."

"The data we will present at AACR (Free AACR Whitepaper) will characterize the pharmacokinetic pattern of IL-15 SA expression and resulting changes in the TME" said Antonio F. Santidrian, PhD, Chief Scientific Officer and Head of Technical Operations at Calidi. "The ability of CLD-401 to induce high levels of IL15-SA expression in the TME but not systemically may dramatically alter the therapeutic window of cytokine treatment."

The Company continues to expand the functionality of the RedTail platform and is also actively pursuing strategic partnerships to accelerate clinical development and broaden the impact of its RedTail platform.

(Press release, Calidi Biotherapeutics, APR 2, 2026, View Source [SID1234664146])

Imfinzi plus Imjudo combined with lenvatinib and TACE demonstrated a statistically significant and clinically meaningful improvement in progression-free survival in embolisation-eligible unresectable liver cancer in EMERALD-3 Phase III trial

On April 2, 2026 AstraZeneca reported that positive high-level results from the EMERALD-3 Phase III trial showed Imfinzi (durvalumab) in combination with Imjudo (tremelimumab), lenvatinib and transarterial chemoembolisation (TACE) demonstrating a statistically significant and clinically meaningful improvement in the primary endpoint of progression-free survival (PFS) versus TACE alone for patients with unresectable hepatocellular carcinoma (HCC) eligible for embolisation.

At this interim analysis for overall survival (OS), a key secondary endpoint, this combination also demonstrated a trend toward OS improvement versus TACE alone.

Patients in the investigational arms were treated with the STRIDE regimen (Single Tremelimumab Regular Interval Durvalumab), with or without lenvatinib, before TACE, and then alongside TACE.

Although not formally tested at this time, data for the treatment arm evaluating the STRIDE regimen plus TACE versus TACE alone showed strong trends toward improved PFS and OS. The trial will continue to follow OS and other key secondary endpoints in both investigational arms.

HCC is the most common type of liver cancer.1 In 2026, more than 200,000 patients with HCC will be eligible for embolisation, a standard-of-care procedure that blocks the blood supply to the tumour and can also deliver chemotherapy directly to the liver.2-4 However, most patients who receive embolisation experience disease progression or recurrence within six to ten months.5

Ghassan Abou-Alfa, MD, JD, MBA, PhD(hc), Attending Physician, Professor of Medicine at Memorial Sloan Kettering Cancer Center, and principal investigator in the trial said, "Dual immunotherapy with durvalumab and tremelimumab in the STRIDE regimen represents a meaningful advance for patients with embolisation-eligible liver cancer, who currently lack systemic treatment options to keep their cancer from progressing or recurring, with a trend of improving survival. EMERALD‑3 shows we can now significantly reduce the risk of disease progression with STRIDE as the immunotherapy backbone alongside lenvatinib and TACE."

Susan Galbraith, Executive Vice President, Oncology Haematology R&D, AstraZeneca, said: "EMERALD‑3 now shows that bringing the dual immunotherapy STRIDE regimen earlier, alongside TACE and lenvatinib, can further improve outcomes in earlier‑stage liver cancer. This builds on the HIMALAYA Phase III trial data in patients with advanced, unresectable disease, where the STRIDE regimen has already demonstrated durable overall survival benefit. We are discussing these positive data with global regulatory authorities while awaiting the final results from the key secondary endpoints."

The safety profile for each combination was consistent with the known profiles of each medicine, and there were no new safety findings.

These data will be presented at a forthcoming medical meeting and shared with global regulatory authorities.

(Press release, AstraZeneca, APR 2, 2026, View Source [SID1234664130])

INOVIO Announces Proposed Public Offering

On April 1, 2026 INOVIO Pharmaceuticals, Inc. (Nasdaq: INO), a biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from HPV-related diseases, cancer, and infectious diseases, reported that it intends to offer and sell shares of its common stock and accompanying Series A warrants and Series B warrants to purchase shares of its common stock (or pre-funded warrants to purchase its common stock in lieu thereof), in an underwritten public offering. All of the securities in the proposed offering will be sold by INOVIO. INOVIO intends to grant the underwriter a 30-day option to purchase additional shares of its common stock and/or accompanying Series A and Series B warrants to purchase shares of its common stock in an amount up to 15% of the securities offered in the public offering under the same terms and conditions. The proposed offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

Piper Sandler is acting as sole manager for the offering.

A shelf registration statement relating to the shares of common stock and accompanying Series A and Series B warrants offered in the offering described above was filed with the Securities and Exchange Commission ("SEC") on November 9, 2023 and declared effective by the SEC on January 31, 2024. The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus, when available, may also be obtained by contacting: Piper Sandler & Co., 350 North 5th Street, Suite 1000, Minneapolis, Minnesota 55401, Attention: Prospectus Department, by telephone at (800) 747-3924, or by e-mail at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered 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.

(Press release, Inovio, APR 2, 2026, View Source [SID1234664124])

OneMedNet, Onco-Innovations and Inka Health Announces Collaboration Aimed to Accelerate Potential for Oncology Drug Development Using Real-World Data and AI

On April 1, 2026 OneMedNet Corporation (Nasdaq: ONMD) (the "OneMedNet," the "Company," "we," "us" or "our"), a leading provider of regulatory decision-grade, AI-ready Real-World Data (RWD), reported that Inka Health, a wholly-owned subsidiary of Onco-Innovations Limited (CBOE CA: ONCO) (OTCQB: ONNVF) (Frankfurt: W1H, WKN: A3EKSZ) has entered into a collaboration with OneMedNet Inc., under which Onco-Innovations and Inka Health will have access to OneMedNet’s iRWD platform— powered by Palantir (PLTR) Foundry— providing it access to U.S. real-world oncology data. The agreement is intended to accelerate development timelines, reduce clinical and regulatory risk, and strengthen evidence generation for Onco-Innovations’ proprietary PNKP Inhibitor Technology targeting PTEN/SHP1-deficient cancers.

Under the agreement, Inka Health is gaining access to OneMedNet’s iRWD platform through a selective pilot program following technical evaluation and qualification. The collaboration will initially focus on applying real-world data and advanced analytics to support Onco’s PNKP Inhibitor Technology’s development strategy, including patient responder identification, indication expansion beyond advanced metastatic colorectal cancer, and complementary evidence generation to inform clinical and regulatory decision-making. Inka Health also intends to use OneMedNet’s iRWD platform to improve and further develop the core model of SynoGraph, its causal-inference based AI platform that aims to predict the success and safety of potential new cancer treatments by analyzing multimodal medical data.

Importantly, this engagement reflects the original architectural intent of the iRWD platform: to enable rapid identification and characterization of rare and molecularly defined patient populations at scale. By combining multi-modal data, longitudinal clinical context, and AI-augmented search capabilities, the platform is purpose-built to locate hard-to-find cohorts, —such as PTEN/SHP1-deficient tumors—, and accelerate innovation in areas where traditional trial recruitment and evidence development can be challenging.

"This collaboration demonstrates exactly what our iRWD platform was designed to do—find and characterize rare, high-value patient populations to accelerate innovation," said Aaron Green, CEO & President of OneMedNet. "By bringing together regulatory-grade real-world data, multi-modal clinical depth, and Palantir-powered AI, we can help oncology innovators de-risk development, move faster, and generate meaningful evidence in complex disease segments."

"Access to high-quality U.S. oncology real-world data is a critical enabler for PNKP Inhibitor Technology," said Thomas O’Shaunghnessy, CEO of Onco-Innovations. "This collaboration allows us to better understand real-world patient populations with PTEN/SHP1-deficient tumors, identify potential responders, and explore additional indications—, helping us de-risk development while improving capital efficiency for shareholders."

(Press release, Onco-Innovations, APR 1, 2026, View Source [SID1234664144])