On November 12, 2026 TScan Therapeutics, Inc. (Nasdaq: TCRX), a clinical-stage biotechnology company focused on the development of T cell receptor (TCR)-engineered T cell (TCR-T) therapies for the treatment of patients with cancer, reported financial results for the three months ended September 30, 2026, and provided a corporate update.

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"This quarter marked an important step in accelerating TScan’s solid tumor program. We are concentrating all our efforts on our in vivo-engineered TCR-T cell approach for solid tumor indications, where we see an opportunity to bring an exciting new treatment modality to patients in desperate need of better treatment options. Our team is working to advance our two lead candidates through preclinical development and complete the studies required to support clinical entry, with the goal of dosing our first patient by the fourth quarter of next year," said Gavin MacBeath, Ph.D., Chief Executive Officer. "At the same time, we are actively pursuing strategic partnerships to advance our heme malignancies and autoimmunity programs. We are excited about the progress we have made this year on our in vivo TCR-T candidates and look forward to sharing more of our preclinical data and FDA feedback in early 2027."

Recent Corporate Highlights

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In September, the Company announced a strategic reorganization to prioritize its in vivo solid tumor program. TScan’s first two therapeutic candidates, one targeting PRAME and the other targeting MAGE-A4, were advanced to IND-enabling studies.
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The Company also provided updated data in September from Cohort C of its Phase 1 ALLOHA study of TSC-101 in heme malignancies. At the time of the update, all 14 patients in Cohort C of the study showed complete donor chimerism at their last assessment, including the two patients who had previously relapsed. The Company paused further enrollment in the Phase 3 ALLOHA-2 study of TSC-101 due to insufficient capital needed to complete the trial and is actively seeking strategic partnerships. TScan remains committed to tracking the patients enrolled in Cohort C of the Phase 1 study, as well as the 7 patients who were enrolled on the treatment arm of the Phase 3 ALLOHA-2 study and the five patients enrolled on the control arm of ALLOHA-2.

Pipeline Progress and Upcoming Anticipated Milestones

Solid Tumor Program: The Company’s strategy is to treat patients with in vivo-engineered TCR-T therapy candidates, initially as singleplexed therapy and ultimately as multiplexed therapy. The Company currently has two candidates in IND-enabling studies: one targeting PRAME and the other targeting MAGE-A4.

Anticipated Milestones

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Disclose preclinical data and FDA feedback from pre-IND meetings on TSC-303-A02 (PRAME) and TSC-302-A02 (MAGE-A4) in Q1 2027.
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File the first IND for in vivo-engineered TCR-T for solid tumors in Q3 2027, with first patient dosed in Q4 2027.
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Report initial Phase 1 data on in vivo-engineered TCR-T in H1 2028.

Heme Malignancies Program: TScan’s TCR-T therapy candidate, TSC-101, is designed to treat residual disease and prevent relapse in patients with heme malignancies undergoing allogeneic hematopoietic cell transplantation (HCT). TScan is currently seeking strategic partners for this program.

Anticipated Milestones

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Share updated data on patients treated in Cohort C of the Phase 1 ALLOHA study at the upcoming 68th American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting and Exposition in Q4 2026.
Title: Phase 1 (ALLOHA) trial cohort C: TSC-101 eliminates recipient hematopoietic cells and demonstrates potential for improved outcomes in patients with AML, ALL, or MDS post-allogeneic RIC HCT

Publication Number: 4178

Presentation Date and Time: December 13, 2026, 6:00 – 8:00 pm E.T.

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Share updated data, including >1 year of follow-up time, on Cohort C patients of the ALLOHA study, and new data, including >6 months of follow-up time, on patients enrolled in the ALLOHA-2 study, in the first half of 2027.

Autoimmunity Program: The Company has discovered novel targets for ankylosing spondylitis and other HLA-B*27-associated autoimmune disorders and is currently seeking strategic partners for this program.

Third Quarter 2026 Financial Results

Revenue: Revenue for the third quarter of 2026 was $0.6 million, compared to $2.5 million for the third quarter of 2025. The decrease was primarily due to timing of research activities pursuant to the Company’s collaboration agreement with Amgen, which was terminated in August 2026.

R&D Expenses: Research and development (R&D) expenses for the third quarter of 2026 were $25.3 million, compared to $31.7 million for the third quarter of 2025. The decrease of $6.4 million was primarily driven by a decrease in laboratory supplies, research materials, and studies due to the timing in the purchase of supplies and consumables, and decrease spend on contracted services, as well as savings in connection with the 2025 workforce reduction. R&D expenses included non-cash stock compensation expense of $1.0 million and $1.7 million for the third quarter of 2026 and 2025, respectively.

G&A Expenses: General and administrative (G&A) expenses for the third quarter of 2026 were $8.3 million, compared to $7.9 million for the third quarter of 2025. The increase of $0.5 million was primarily due to costs incurred in connection with the 2026 reorganization. G&A expenses included non-cash stock compensation expense of $1.1 million and $1.3 million for the third quarter of 2026 and 2025, respectively.

Net Loss: Net loss was $33.1 million for the third quarter of 2026, compared to $35.7 million for the third quarter of 2025, and included net interest expense of $0.1 million and net interest income of $1.3 million, respectively.

Cash Position: Cash and cash equivalents as of September 30, 2026, were $73.0 million, excluding $5.0 million of restricted cash. The Company believes that its existing cash resources will be sufficient to fund its current operating plan into the fourth quarter of 2027. The Company did not achieve certain non-covenant related milestones by June 30, 2026 as provided under its existing debt agreement. The updated cash runway therefore reflects commencement of the two-year term loan amortization beginning in the fourth quarter of 2026.

Share Count: As of September 30, 2026, the Company had 67,779,255 issued and outstanding shares of common stock, consisting of 63,502,667 shares of voting common stock and 4,276,588 shares of non-voting common stock, as well as 62,246,707 outstanding pre-funded warrants to purchase shares of voting common stock at an exercise price of $0.0001 per share. Pro forma outstanding shares, inclusive of both common stock and pre-funded warrants, were 130,025,962 as of September 30, 2026.

(Press release, TScan Therapeutics, NOV 12, 2026, View Source [SID1234674688])

On November 12, 2026 Sutro Biopharma, Inc. (Sutro or the Company) (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), reported its financial results for the third quarter ended September 30, 2026 and recent business highlights.

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"Over the past year, we have delivered on our commitment to advance our next-generation ADCs with two programs, STRO-004 and STRO-006, entering the clinic in less than a year, and our dual-payload ADC, STRO-227, expected to follow in early 2027," said Jane Chung, Chief Executive Officer of Sutro. "Early data from STRO-004 give us confidence in its potential to deliver meaningful clinical benefit with our proprietary ADC platform. In addition, our collaboration partner Astellas has initiated patient dosing with a second dual-payload immunostimulatory ADC, further highlighting our strong execution and ability to deliver differentiated, novel dual-payload ADCs. Together these advances reflect our proficiency in translating platform innovation into a growing pipeline of therapies designed to improve patient outcomes and create long-term value."

Sutro Pipeline

STRO-004: Sutro’s potential best-in-class Tissue Factor (TF)-targeting DAR8 exatecan ADC is being evaluated in the ongoing Phase 1 STRIVE-01 study in patients with advanced solid tumors. As previously reported in August 2026, initial dose escalation in 49 heavily pretreated patients demonstrated encouraging early clinical activity, including confirmed and ongoing unconfirmed partial responses across three tumor types in RECIST-evaluable patients, alongside favorable tolerability and a differentiated pharmacokinetic profile. Dose optimization continues in backfill cohorts of selected indications. The Company plans to provide its next STRIVE-01 study update and initiate expansion cohorts in select indications in the first half of 2027.

STRO-006: Sutro’s next-generation, highly selective integrin β6 (ITGB6)-targeting ADC with a DAR8 exatecan payload, is designed for the treatment of multiple solid tumors. In October 2026, the Company announced the first patient dosed in a Phase 1, open-label, multicenter study evaluating the safety, tolerability, pharmacokinetics and preliminary antitumor activity of STRO-006 as a monotherapy in adults with advanced or metastatic solid tumors. The dose-escalation portion will enroll patients with ITGB6-expressing tumor types, including head and neck cancer, non-small cell lung cancer, esophageal/gastric cancer, colorectal cancer, endometrial cancer, urothelial cancer and breast cancer, with dosing beginning at 1.5 mg/kg. The Company anticipates an initial Phase 1 data update in the second half of 2027.

STRO-227: Sutro’s DAR10 dual-payload ADC targeting PTK7, consists of MMAE (DAR2) and exatecan (DAR8) payloads to enable complementary mechanisms of action within a single molecule. The program is advancing toward initiation of a Phase 1 clinical trial in early 2027 and is a key component of Sutro’s strategy to expand its portfolio of ADCs designed for the potential to widen the therapeutic index and overcome resistance.

Next-Generation ADC Collaborations

Astellas: Two programs are advancing in the clinic under Sutro’s collaboration with Astellas focused on dual-payload immunostimulatory ADCs (iADCs). The first program, which targets TROP2, continues to actively dose patients.

The second program, targeting B7-H3, began dosing patients, resulting in a $10 million milestone payment received by Sutro in October 2026.

Recent Scientific Presentations

At the 17th Annual World ADC Conference held October 12–15, 2026, Sutro presented initial STRO-004 clinical safety and pharmacokinetic findings in a plenary session, along with new preclinical updates on STRO-006, STRO-227 and novel payload mechanisms, demonstrating the potential of the Company’s platform to deliver next-generation ADCs with a wider therapeutic index and the potential to overcome resistance to single-payload ADCs. The presentations are available in the Scientific Publications section of Sutro Biopharma’s website at www.sutrobio.com.

Investor Conferences

Management will participate in the following upcoming healthcare investor conferences. Where available, live webcasts of the presentations can be accessed on the Events & Presentations page in the Investor Relations section of the Company’s website at www.sutrobio.com. Archived replays will remain available for at least 30 days following each event.

UBS Global Biopharma Conference

Fireside Chat Date/Time: November 17 at 10:40 AM GMT
Location: London, UK

Jefferies Global Healthcare Conference

Fireside Chat Date/Time: November 18 at 1:30 PM GMT
Location: London, UK

Piper Sandler 38th Annual Healthcare Conference 
Fireside Chat Date/Time: December 2 at 1:30 PM EST
Location: New York, NY

Corporate Updates

In September, Sutro appointed Lucas Donigian as Senior Vice President, Business Development, bringing more than 20 years of biotechnology industry experience, with a background in business development, corporate strategy, and alliance management.

Third Quarter 2026 Financial Highlights

Cash, Cash Equivalents and Marketable Securities

As of September 30, 2026, Sutro had cash, cash equivalents and marketable securities of $142.2 million, as compared to $164.3 million as of June 30, 2026. Based on its current operating plan, the Company expects its cash runway to support operations into the first half of 2028.

Revenue

Revenue was $9.1 million for the quarter ended September 30, 2026, as compared to $9.7 million for the quarter ended September 30, 2025, with the 2026 amount related principally to the Astellas collaboration.

Research & Development (R&D) and General & Administrative (G&A) Expenses

Total R&D and G&A expenses for the quarter ended September 30, 2026 were $31.0 million, as compared to $48.6 million for the quarter ended September 30, 2025.

(Press release, Sutro Biopharma, NOV 12, 2026, View Source [SID1234674687])

On November 12, 2026 Silence Therapeutics plc, (Nasdaq: SLN), a global clinical-stage company developing novel siRNA (short interfering RNA) therapies, reported its financial results for the third quarter ended September 30, 2026, and provided an update on other recent business achievements.

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Recent Business Highlights

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On August 10, 2026, Silence reported positive topline results from its Phase 2 SANRECO trial of divesiran, an investigational siRNA therapy silencing TMPRSS6, in polycythemia vera, supporting a potentially best-in-class profile with once-every-three-month dosing.

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SANRECO Phase 2 results have been accepted for oral presentation at the upcoming American Society of Hematology (ASH) (Free ASH Whitepaper) 2026 Annual Meeting, being held December 12-15, 2026 in New Orleans, LA. You can find the presentation details here.

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On October 19, 2026, Silence announced (press release) that it has entered into a definitive agreement to be acquired by Merck KGaA, Darmstadt, Germany. The transaction is expected to close in the first quarter of 2027, subject to the satisfaction of customary closing conditions.

Third Quarter 2026 Financial Highlights

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Cash Position: Cash and cash equivalents were $247.7 million as of September 30, 2026. This includes $201.3 million in gross proceeds from an upsized public offering announced on August 11, 2026.

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R&D Expenses: Research and development (R&D) expenses were $9.3 million for the three months ended September 30, 2026, compared to $20.5 million for the three months ended September 30, 2025. The $11.2 million decrease is mainly due to the zerlasiran Phase 3 readiness being completed in 2025 as well as reduced personnel costs.

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G&A Expenses: General and administrative (G&A) expenses were $4.9 million for the three months ended September 30, 2026, compared to $5.8 million for the three months ended September 30, 2025. The $0.9 million decrease is mainly due to an effort to reduce administrative costs.

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Net Loss: Net loss was $12.4 million, or $0.08 basic and diluted net loss per share for the three months ended September 30, 2026, compared to a net loss of $21.0 million, or $0.15 basic and diluted net loss per share for the three months ended September 30, 2025.

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Total outstanding shares were 186,609,073 ordinary shares (including shares in the form of American Depositary Shares) as of September 30, 2026.

(Press release, Silence Therapeutics, NOV 12, 2026, View Source [SID1234674686])

On November 12, 2026 SELLAS Life Sciences Group, Inc. (NASDAQ: SLS) ("SELLAS’’ or the "Company"), a late-stage clinical biopharmaceutical company focused on the development of novel therapies for a broad range of cancer indications, reported financial results for the third quarter ended September 30, 2026, and provided a corporate update.

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"We continue to execute across both of our clinical programs as we approach several important milestones," said Angelos Stergiou, MD, ScD h.c., President and Chief Executive Officer of SELLAS Life Sciences. "In our ongoing Phase 3 REGAL trial of GPS, we are focused on completing the final analysis following the announcement of 80th event, and we expect to announce topline primary endpoint results this month. If successful, we believe GPS could be a transformative new immunotherapy for AML patients in second complete remission. In parallel, enrollment and dosing continue in our Phase 2 trial of tambiciclib (SLS009) in newly diagnosed AML, with preliminary topline data expected in the fourth quarter. As announced earlier this month, we look forward to presenting our Phase 2 data in relapsed/refractory AML at the upcoming ASH (Free ASH Whitepaper) in December. We were also encouraged by the preclinical data presented at AACR (Free AACR Whitepaper) in pancreatic cancer models, including in resistance to a RAS inhibitor, and we are continuing our preparations for clinical development in that indication. With $134.7 million in cash and cash equivalents as of September 30, we are well positioned to further advance these programs."
Recent Corporate Highlights:

Phase 3 REGAL Trial of GPS: Ongoing Phase 3 trial in AML patients who have achieved complete remission following second-line salvage therapy. In October 2026, the Company announced the required pre-specified 80th event occurred, triggering the customary database lock, blinded data review procedures before statistical analysis, unblinding, and disclosure of topline results, which the Company expects to report this month.
Ongoing dosing of SLS009 in earlier-line AML: 40 patients have been enrolled, and enrollment and dosing continue in the ongoing 80-patient Phase 2 trial in newly diagnosed AML patients, including those who become refractory early to AZA/VEN treatment identified through extensive transcriptomics, genomics, and proteomics models. Preliminary topline data is expected in Q4 2026. Additional information about the trial can be found at clinicaltrials.gov (NCT04588922).

Phase 2 Data of Tambiciclib (SLS009) in Combination with Azacitidine and Venetoclax in Relapsed/Refractory AML to be presented at upcoming 2026 American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting: In November, the Company announced that it will present data from its completed Phase 2 study of tambiciclib (SLS009) for the treatment of relapsed or refractory acute myeloid leukemia (r/r AML) at the 68th American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting and Exposition, being held December 12–15, 2026, in New Orleans, Louisiana. Patients with relapsed/refractory monocytic AML achieved a 54% ORR with a median overall survival (mOS) of 5.8 months and patients with TP53-mutated AML achieved a 57% ORR and a mOS of 8.8 months, comparing favorably to historical outcomes in these adverse-risk settings of ~2.5 months.

The Phase 2 trial evaluated SLS009, a highly selective CDK9 inhibitor, in combination with azacitidine (AZA) and venetoclax (VEN) for the treatment of patients with r/r AML after prior VEN-based treatment.

Presented Preclinical Data Demonstrating SLS009 Activity in Pancreatic Cancer Models at the 2026 AACR (Free AACR Whitepaper) Conference on Pancreatic Cancer: In September, the Company presented preclinical data from studies evaluating SLS009 (tambiciclib), its highly selective cyclin-dependent kinases 9 (CDK9) inhibitor, in patient-derived organoid models of pancreatic ductal adenocarcinoma (PDAC). The data were presented at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) Conference on Pancreatic Cancer: New Frontiers in Biology and Therapeutic Development. The studies, conducted in collaboration with researchers at the University of Wisconsin–Madison, evaluated SLS009 in MYC-amplified PDAC models, including a model resistant to the recently approved RAS inhibitor daraxonrasib (RMC-6236), as well as in combination with the BET inhibitor ZEN3694. MYC amplification is a biologically recognized mechanism of RAS targeting resistance.

The findings support further investigation of CDK9 inhibition as a strategy to enhance RAS-directed therapy and potentially address MYC-associated resistance in pancreatic cancer. The BET combination data provide additional mechanistic support for SLS009-based approaches designed to disrupt MYC-dependent transcriptional programs and suggest the potential to enhance BET inhibition at lower drug exposures.

Financial Results for the Third Quarter 2026:

Research and Development Expenses: Research and development expenses for the quarter ended September 30, 2026, were $7.0 million, compared to $4.2 million for the same period in 2025. Research and development expenses were $18.4 million for the nine months ended September 30, 2026, compared to $11.3 million for the same period in 2025. The increase was primarily due to increases in manufacturing costs, clinical and regulatory consulting, and clinical trial expenses in preparation for a potential Biologics License Application (BLA) for GPS following the final analysis of the REGAL study.

General and Administrative Expenses: General and administrative expenses for the third quarter of 2026 were $4.3 million, as compared to $2.9 million for the same period in 2025. General and administrative expenses for the nine months ended September 30, 2026 were $12.8 million compared to $8.7 million for the same period in 2025. The increase was primarily due to increases in non-cash stock-based compensation and professional fees.
Net Loss: The net loss was $10.1 million for the third quarter of 2026, or a basic and diluted loss per share of $0.05, as compared to a net loss of $6.8 million for the third quarter of 2025, or a basic and diluted loss per share of $0.06. The net loss was $28.1 million for the nine months ended September 30, 2026, or a basic and diluted loss per share of $0.15, as compared to a net loss of $19.2 million for the same period in 2025, or a basic and diluted loss per share of $0.20.

Cash Position: As of September 30, 2026, cash and cash equivalents totaled approximately $134.7 million.

(Press release, Sellas Life Sciences, NOV 12, 2026, View Source [SID1234674685])

On November 12, 2026 Rakovina Therapeutics Inc. (TSX-V: RKV) (FSE: 7JO0) (OTCMKTS: RKVTF), a biopharmaceutical company advancing innovative cancer therapies through AI-powered drug discovery, reported an expanded strategic advisory engagement with Dr. Artem (Art) Cherkasov, PhD, an existing member of the Company’s Scientific Advisory Board (SAB).

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Dr. Cherkasov, an internationally recognized pioneer in computational drug discovery, artificial intelligence and precision cancer therapeutics, will continue to serve on Rakovina’s Scientific Advisory Board while taking on a more active role as Advisor AI Drug Discovery supporting the Company’s evaluation of new AI technologies, advancement of its discovery programs and pursuit of strategic partnerships.

Dr. Cherkasov’s expanded role fits closely with Rakovina’s AI strategy, which has three elements: strengthening the Company’s relationships with leading AI drug-discovery platforms, including securing exclusivity in its DNA-damage response (DDR) field; using multiple AI platforms, each specialized for different aspects of biochemistry and drug development, rather than relying on a single tool; and considering strategic alternatives, including mergers and acquisitions, that could add technologies, programs or scale.

Rakovina has been executing this strategy. On November 10, 2026, the Company announced an exclusive, worldwide and perpetual licence for DDR oncology drug discovery to the Artemis.AI platform, which incorporates Dr. Cherkasov’s Deep Docking technology, from Artemis Therapeutics Inc. ("Artemis"), where Dr. Cherkasov is a co-founder and Chief Technology Officer. On October 14, 2026, Rakovina announced that it had secured exclusivity over the optimized target product profile for its kt-5000 ATR inhibitor program from Variational AI Inc. ("Variational AI"), and on October [22], 2026, it reported that the kt-5000AI program, designed using Variational AI’s Enki generative AI platform, is advancing toward development candidate selection. On October 1, 2026, Rakovina announced a collaboration with Boston-based Celvion Therapeutics ("Celvion") to apply Celvion’s EMphora AI platform to real-world clinical data for its ATR inhibitor program, and on October 28, 2026, the companies reported the results of their first analysis. These news releases are available on the Company’s website at www.rakovinatherapeutics.com and on SEDAR+ at www.sedarplus.ca.

"Our strategy is to build the strongest position we can in AI-enabled DDR drug discovery: exclusive access to the best platforms in our field, the flexibility to apply the right specialized AI to each problem, and openness to strategic transactions that can accelerate our growth," said Kim Oishi, Chief Executive Officer of Rakovina Therapeutics. "Art has been using AI to accelerate drug discovery for more than 20 years and has an internationally recognized track record, and few people are better placed to judge which AI technologies will deliver results in the lab. His expanded involvement will help us evaluate emerging technologies, deepen our AI partnerships and assess corporate development opportunities as we execute our growth strategy."

A World-class Scientific Leader with a Track Record of Commercial Innovation

Dr. Cherkasov is a Professor in the Department of Urologic Sciences at the University of British Columbia (UBC), a Tier 1 Canada Research Chair in Precision Cancer Drug Design and a Senior Scientist at the Vancouver Prostate Centre.

Over the course of his distinguished career, he has established an exceptional international reputation for applying computational science, machine learning and artificial intelligence to accelerate pharmaceutical discovery and therapeutic innovation.

His accomplishments include:

Pioneer of Deep Docking: Developed the groundbreaking AI-enabled drug discovery platform capable of screening billions of molecular structures against specific biological targets, dramatically accelerating the identification of potential drug candidates.

Landmark Roche / UBC Pharmaceutical Agreement: His research and computational drug discovery work contributed to a landmark licensing and commercialization agreement between UBC and Roche involving a potential treatment for advanced prostate cancer. Announced in 2015, the agreement included potential milestone payments of up to US$141.7 million, plus royalties, representing one of the most significant pharmaceutical commercialization agreements in UBC’s history.

COVID-19 AI Research Breakthrough: During the pandemic, Dr. Cherkasov led an interdisciplinary research initiative applying Deep Docking to identify potential inhibitors of SARS-CoV-2. Working with NVIDIA, Dell Technologies and UBC Advanced Research Computing, his team computationally screened approximately 40 billion molecular structures in just 19 days, identifying promising candidates for further investigation.

International AI Drug Discovery Recognition: His Deep Docking technology achieved first-place results in two international CACHE drug discovery challenges, including initiatives focused on Parkinson’s disease and COVID-19.

Extensive Intellectual Property and Research Portfolio: Dr. Cherkasov has co-authored more than 200 peer-reviewed scientific publications, contributed to more than 80 patent filings and helped advance eight drug candidates that have been licensed to pharmaceutical companies and commercial partners.

Significant Research Leadership: His work at UBC and the Vancouver Prostate Centre has attracted more than CAD $80 million in research funding, supporting advances in computational drug discovery, molecular modelling, cheminformatics and precision oncology.

Dr. Cherkasov’s career exemplifies the potential of AI to fundamentally transform traditional drug discovery by enabling researchers to explore vastly larger chemical spaces, prioritize promising compounds and accelerate the transition from computational predictions to experimental validation.

"AI and computational approaches are fundamentally changing how we discover and develop new therapeutics, creating significant opportunities to accelerate innovation," said Dr. Art Cherkasov. "Realizing this potential requires the integration of scientific expertise, advanced technologies and strategic collaboration. I am pleased to expand my involvement with Rakovina and look forward to working with the team to strengthen its discovery capabilities, explore new opportunities and help shape the Company’s next phase of growth."

The Company believes that realizing the full potential of AI-driven drug discovery requires more than computational capabilities alone. Rakovina combines expertise in AI-enabled drug design with established wet-laboratory research capabilities and deep experience in oncology drug development, enabling the Company to advance promising AI-generated compounds through experimental validation, biological testing and further preclinical development. This integrated approach positions Rakovina to translate computational discoveries into tangible therapeutic opportunities.

"Art brings exceptional expertise in computational drug discovery that complements Rakovina’s strengths in cancer biology, experimental validation and preclinical drug development," said Dr. Mads Daugaard, President and Chief Scientific Officer of Rakovina Therapeutics. "The true potential of AI-driven drug discovery lies in our ability to translate computational predictions into compounds with demonstrated biological activity and therapeutic potential. By combining Art’s expertise with our established wet-laboratory capabilities and oncology research experience, we see significant opportunities to strengthen our discovery programs and accelerate the advancement of promising new cancer therapeutics."

Securities for Services Arrangement

In connection with his expanded role, the Company has entered into a consulting agreement with Dr. Cherkasov effective November 15, 2026, for a term of up to 24 months (the "Consulting Agreement"). Under the Consulting Agreement, Dr. Cherkasov will continue to serve on the Company’s Scientific Advisory Board and will provide advice on AI-enabled drug discovery and development and scientific and technical due diligence on new AI platforms. The services do not include investor relations, promotional or market-making activities.

Dr. Cherkasov will receive compensation of $160,000 per year, of which $100,000 is payable in cash in equal monthly instalments and $60,000 ($15,000 per quarter) is payable in common shares of the Company ("Shares") under a securities-for-services arrangement in accordance with section 6.2 of TSX Venture Exchange ("TSXV") Policy 4.4 – Security Based Compensation.

Shares will be issued quarterly in arrears, only after the services for the applicable quarter have been provided. The number of Shares for each quarter will be determined after the end of that quarter by dividing $20,000 by a deemed price per Share that will not be less than the Discounted Market Price (as defined in TSXV policies) on the date of determination. No warrants will be issued under the arrangement.

Dr. Cherkasov is Non-Arm’s Length Party of the Company. He is a co-founder, director and Chief Technology Officer of Artemis Therapeutics Inc., which is expected to receive Shares as consideration for the Artemis.AI licence announced on November 10, 2026. The arrangement will not result in the creation of a new Control Person. The issuance of Shares is subject to TSXV acceptance, and the Shares will be subject to a hold period of four months and one day from the date of issuance under applicable securities laws. The Company will issue a news release each quarter disclosing the number of Shares issued under the arrangement.

Joint Webinar

Rakovina Therapeutics will host a joint webinar with Artemis Therapeutics on November 18th at 11:30AM PCT (Vancouver time) to discuss the recently announced collaboration between the two companies. The webinar will feature Mr. Kim Oishi CEO of Rakovina, Mr. Frank Holler, CEO of Artemis and Dr. Artem Cherkasov, Co-Founder and CTO of Artemis.

(Press release, Rakovina Therapeutics, NOV 12, 2026, View Source;utm_medium=rss&utm_campaign=rakovina-therapeutics-expands-strategic-engagement-with-renowned-ai-drug-discovery-pioneer-dr-artem-cherkasov [SID1234674683])