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Rakovina Therapeutics Expands Strategic Engagement with Renowned AI Drug Discovery Pioneer Dr. Artem Cherkasov

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])

Pliant Therapeutics Provides Corporate Update and Reports Third Quarter 2026 Financial Results

On November 12, 2026 Pliant Therapeutics, Inc. (Nasdaq: PLRX), a clinical-stage biotechnology company focused on the discovery and development of integrin-based therapeutics, reported a corporate update and announced third quarter 2026 financial results.

"The third quarter reflected continued strong execution across the Organization, including robust FORTIFY enrollment and compelling proof-of-concept data generated from our integrin-mediated drug delivery platform," said Bernard Coulie, M.D., Ph.D., President and Chief Executive Officer of Pliant. "FORTIFY continues to enroll ahead of schedule, with a number of European sites onboarded during the quarter. In addition, we continue to explore the potential of our proprietary drug delivery platform with cross-species preclinical data demonstrating successful selective delivery of siRNA payloads to extrahepatic tissues. With emerging data continuing to inform our next steps, potential therapeutic applications and paths forward, we will provide a comprehensive overview of the program in the coming months."

Oncology Program
PLN-101095 is an oral, small molecule, dual selective inhibitor of αvβ8 and αvβ1 integrins designed to overcome checkpoint resistance by blocking TGF-β activation in the tumor microenvironment. Pliant is currently conducting FORTIFY, a Phase 1a/1b open-label, dose-escalation and indication expansion trial (NCT06270706), to evaluate the safety, tolerability, pharmacokinetics, and preliminary evidence of antitumor activity of PLN-101095, in combination with pembrolizumab, in patients with immune checkpoint inhibitor (ICI)-refractory advanced or metastatic solid tumors.

•Strong enrollment continues in FORTIFY, a Phase 1b indication expansion trial. FORTIFY will enroll up to 102 patients across three cohorts including non-small cell lung cancer (NSCLC), clear cell renal cell carcinoma (ccRCC) and tumors with high tumor mutational burden. Patients are treated for 14 days with PLN-101095 dosed at 1,000 mg twice daily as monotherapy, after which pembrolizumab is added as combination therapy. Enrollment remains strong, progressing ahead of schedule with active sites in the United States and Spain with additional countries onboarding in the next several months. Interim data is expected in 2027.

•Presentations at Annual Meeting of the Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper) highlight PLN-101095 Phase 1 biomarker data and mechanism of action.
◦Researchers from Pliant presented new biomarker data from the Phase 1 trial showing that early induction of immune activation biomarkers during PLN-101095 monotherapy was associated with subsequent clinical response following pembrolizumab initiation. These findings support the hypothesis that TGF-β pathway inhibition promotes immune activation, T-cell recruitment into the tumor microenvironment, and enhanced cytotoxic effector function.
◦Researchers from the National Cancer Institute presented data demonstrating that the blockade of integrins αvβ8 and αvβ1 in combination with anti-PD-1 reduced TGF-β signaling leading to modulation of fibroblastic cell populations in the tumor microenvironment and increased infiltration and activation of cytotoxic CD8+ T cells. This resulted in an improvement in anti-tumor activity and survival.

Selective, Targeted, Integrin-mediated Delivery Platform
Utilizing our fully annotated library of 15,000+ integrin binding molecules, as well as our biological knowledge of cell-specific integrin receptor expression, Pliant has created a selective, targeted integrin-mediated delivery platform for cell- and tissue-selective extrahepatic delivery of drug payloads, including RNAi. The platform has broad applicability across multiple disease areas utilizing a variety of drug payloads.

•Tissue Specificity, Potency and Durability – Pliant has initiated multiple RNAi delivery programs targeting specific tissues through unique integrin expression profiles. The most advanced compounds to date selectively target skeletal and skeletal/cardiac muscle, respectively. In non-human primate studies, we have observed >75% target gene knockdown at eight weeks while avoiding liver and other non-targeted tissues.

•Plug-and-Play Compatibility – Pliant’s integrin-directed small molecule delivery compounds can be loaded with RNAi payloads directed at any gene of interest. This allows a single compound to serve as the basis for rapid development of tissue-specific therapies to a broad array of indications. Additionally, while initial efforts are directed at RNAi, the platform is potentially capable of delivering a variety of therapeutic payloads.

•Initial Indications – Based on early findings showing the successful selective delivery of Pliant’s skeletal and cardiac muscle compounds, the Company plans to accelerate development with initial therapeutic programs focused in areas of high unmet need including neuromuscular diseases and rare cardiomyopathies where gene suppression modalities show promise.

Pliant plans to share additional details regarding muscle and cardiac, as well as other RNAi programs, including detailed preclinical data and specific indication and gene targets for development over the coming months.

A presentation on the platform, including preclinical data, titled "Pliant’s Selective Targeted Integrin-Mediated Drug Delivery Platform" can be found in the "Investors & Media" section of Pliant’s website at www.PliantRx.com.

Corporate Highlights
•Appointment of David Raben, M.D., as Chief Medical Officer. Dr. Raben is a leader in targeted immuno-oncology drug development and brings three decades of academic and biopharmaceutical oncology expertise. Most recently, Dr. Raben served as Chief Medical Officer at Bicara Therapeutics.
•Appointment of Craig Blanchette, Ph.D., as Senior Vice President, Research (RNAi). Dr. Blanchette is a recognized leader in RNAi drug discovery with a track record of advancing novel delivery platforms and therapeutics. Dr. Blanchette brings more than two decades of drug discovery and development expertise, having most recently served as Chief Scientific Officer at Switch Therapeutics.

Third Quarter 2026 Financial Results
•Research and development expenses were $17.9 million in the current and prior-year quarter. Expenses remained consistent as increased spending on PLN-101095 development in the current period was offset by decreased costs resulting from the termination of bexotegrast development in IPF and reduced personnel- related expenses, including stock based compensation, driven by decreased headcount compared to prior year.
•General and administrative expenses were $7.8 million, as compared to $10.3 million for the prior-year quarter. The decrease was primarily due to personnel-related expenses, including stock-based compensation, driven by decreased headcount compared to prior year.
•Net loss was $24.4 million as compared to $26.3 million for the prior-year quarter. The decrease was primarily due to lower operating expenses following the termination of bexotegrast development in IPF in 2025 and decreased personnel-related expenses, including stock-based compensation, driven by reduced headcount compared to prior year.
•As of September 30, 2026, the Company had cash, cash equivalents and short-term investments of $142.6 million which the Company expects to be sufficient to fund operations to mid-2028.

(Press release, Pliant Therapeutics, NOV 12, 2026, View Source [SID1234674682])

Parabilis Medicines Reports Third Quarter 2026 Financial Results and Provides Business Updates

On November 12, 2026 Parabilis Medicines (Nasdaq: PBLS), a clinical-stage biopharmaceutical company dedicated to creating extraordinary medicines for patients with serious diseases by unlocking historically undruggable targets, reported financial results and business updates for the third quarter ended September 30, 2026.

"With each successive clinical update, we are building a stronger foundation for zolucatetide as a unique medicine with the potential to make a meaningful difference for patients across multiple diseases," said Mathai Mammen, M.D., Ph.D., Chairman, Chief Executive Officer and President of Parabilis Medicines. "The updated results presented at ESMO (Free ESMO Whitepaper) further reinforce our confidence in the depth and consistency of desmoid tumor responses, alongside a favorable safety and tolerability profile. With our Phase 3 dosing, regimen and trial design aligned with the FDA, we are well positioned to initiate PEDESTAL in the first half of 2027, bringing us closer to delivering a potentially transformative treatment for patients with desmoid tumors."

Dr. Mammen continued, "We are also continuing to deliver on zolucatetide’s potential to become a pipeline in a product, advancing development in FAP, adamantinomatous craniopharyngioma (ACP), hepatocellular carcinoma (HCC) and other Wnt-driven diseases, while pursuing a scientifically grounded combination approach in MSS CRC through our collaboration with Revolution Medicines. In parallel, we are selectively advancing a broader pipeline of programs against other historically undruggable targets. The progress across our portfolio continues to strengthen our conviction in the ability of our HeliconTM platform to repeatedly translate breakthrough science into medicines that can meaningfully improve patients’ lives."

Recent Business Highlights and Anticipated Milestones

Continued Advancement of Zolucatetide

Desmoid tumors

•
Presented compelling clinical data from a June 22, 2026, data cut of the ongoing Phase 1/2 trial of zolucatetide at the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) Congress 2026, demonstrating:
o
An objective response rate (ORR) of 72.2% (13/18) among patients evaluable at the 32-week landmark who received a starting dose of ≥450 mg
o
A disease control rate (DCR) of 100%, with no disease progression, across all 46 response-evaluable patients receiving a starting dose of ≥450 mg
o
A favorable safety and tolerability profile now shown in 76 patients, with no treatment discontinuations due to treatment-related adverse events (TRAEs)
•
Reached alignment with the U.S. Food and Drug Administration (FDA) on a global Phase 3 trial design; plan to initiate the randomized, double-blind PEDESTAL Phase 3 registrational trial in the first half of 2027 with topline results anticipated in 2029
•
Selected for an oral presentation at the Connective Tissue Oncology Society (CTOS) Annual Meeting in November 2026, featuring data from the June 22, 2026, data cut
•
Initiated a Phase 1/2 clinical trial of zolucatetide in patients with desmoid tumors in China to support the planned inclusion of patients in China in the global PEDESTAL Phase 3 registrational trial
Familial adenomatous polyposis

•
Initiated a dose-ranging clinical cohort as part of the ongoing Phase 1/2 trial to evaluate zolucatetide in patients with FAP and identify the optimal dose and regimen
•
Anticipate disclosing translational data demonstrating on-target activity at a medical meeting in the first quarter of 2027

•
Anticipate disclosing clinical data from additional patients with FAP in the first quarter of 2027, building on compelling early observations of duodenal polyp reductions in two patients
Adamantinomatous craniopharyngioma

•
Anticipate disclosing updated clinical data from additional patients with ACP in the first half of 2027, building on encouraging early antitumor activity in three patients
Hepatocellular carcinoma and additional Wnt/β-catenin-driven tumors

•
Anticipate disclosing additional clinical data in HCC at a medical meeting in the first quarter of 2027, building on evidence of early activity in a heavily pretreated patient
•
Continue evaluating zolucatetide across additional Wnt/β-catenin-driven tumor types as part of the ongoing Phase 1/2 clinical trial
Clinical collaboration with Revolution Medicines in RAS G12D mutant MSS CRC

•
Entered into a clinical collaboration with Revolution Medicines (RevMed) to evaluate zolucatetide in combination with RevMed’s zoldonrasib, an investigational, oral RAS(ON) G12D-selective covalent tri-complex inhibitor, and cetuximab, an EGFR inhibitor, in patients with previously treated RAS G12D mutant MSS CRC; Parabilis will sponsor and conduct the study, with RevMed supplying zoldonrasib and equally sharing the costs of the trial
•
Supported by clinical translational data from the Phase 1/2 trial showing reciprocal upregulation of mitogen-activated protein kinase (MAPK) and downregulation of the Wnt pathway in patients with MSS CRC treated with zolucatetide, alongside a manageable safety and tolerability profile
•
Also supported by preclinical data showing enhanced tumor growth inhibition when zolucatetide was combined with zoldonrasib in a CRC patient-derived xenograft model
Advancement of the Helicon Platform and Discovery Pipeline

•
Continued advancing wholly owned preclinical programs, including ERG and allosteric ARON degraders in prostate cancer and a β-catenin degrader program, alongside ongoing research under the strategic collaboration with Regeneron to develop Antibody-Helicon Conjugates (AHCs) targeting intracellular proteins

Corporate Updates

•
Appointed Craig L. Tendler, M.D., to the Board of Directors in August 2026, bringing extensive oncology drug development and regulatory experience
Upcoming Investor Conferences
•
Announced that Mathai Mammen, M.D., Ph.D., Chairman, CEO and President, will deliver a company presentation at the Jefferies Global Healthcare Conference in London, UK, on Monday, November 16, 2026, at 12:30 p.m. GMT / 7:30 a.m. EST, and participate in a fireside chat at the Evercore ISI 9th Annual Healthcare Conference on Monday, November 30, 2026, at 3:50 p.m. EST; webcasts will be available at View Source
Third Quarter 2026 Financial Results

Cash position and runway: Cash, cash equivalents and marketable securities were $1.1 billion as of September 30, 2026, compared to $27.7 million as of December 31, 2025. The Company’s cash, cash equivalents and marketable securities as of September 30, 2026, are expected to fund operations into 2030.

Revenue: Revenues for the quarter ended September 30, 2026, were $2.1 million from collaboration agreements, compared to no revenue for the comparable prior-year period.

R&D expenses: Research and development expenses were $45.6 million for the quarter ended September 30, 2026, compared to $28.2 million for the comparable prior-year period. The increase of $17.4 million was primarily driven by ongoing investment in the clinical development of zolucatetide across a number of indications and increased employee-related costs (including stock-based compensation) associated with increased hiring to support the advancing clinical pipeline.

G&A expenses: General and administrative expenses were $11.3 million for the quarter ended September 30, 2026, compared to $6.6 million for the comparable prior-year period. The increase of $4.7 million was primarily attributable to higher employee-related costs (including stock-based compensation) related to increased hiring to support the Company’s growth as it advances its clinical programs and expenses associated with operating as a public company.

Net loss: Net loss was $44.5 million for the quarter ended September 30, 2026, compared to $33.5 million for the comparable prior-year period. The increase in net loss of $11.0 million was primarily driven by increased operating costs.

(Press release, Parabilis Medicines, NOV 12, 2026, View Source [SID1234674681])

Nektar Therapeutics Announces Third Quarter 2026 Financial Results

On November 12, 2026 Nektar Therapeutics (Nasdaq: NKTR) reported its financial results for the third quarter ended September 30, 2026, and provided a business update.

Cash and investments in marketable securities on September 30, 2026, were $952.9 million as compared to $245.8 million on December 31, 2025.

"This was a pivotal quarter for Nektar as we moved rezpegaldesleukin quickly into Phase 3 development," said Howard Robin, President and Chief Executive Officer of Nektar. "We have now initiated all three global ZENITH AD registrational trials in atopic dermatitis and our global ZENITH AA registrational trial in alopecia areata is on track to begin in December, earlier than previously planned. The strong body of clinical and translational data generated to-date for rezpegaldesleukin reinforce our conviction in its novel and differentiated Treg mechanism, which targets multiple inflammatory pathways that underpin chronic autoimmune disease. We believe rezpegaldesleukin has the potential to offer an important new therapeutic approach for patients, and we’re focused on advancing to our topline data readouts in the summer of 2028 with the first BLA filing in 2029."

Revenue in the third quarter of 2026 was $9.4 million as compared to $11.8 million in the third quarter of 2025. Revenue for the first nine months of 2026 was $30.4 million as compared to $33.4 million in the first nine months of 2025.

Total operating costs and expenses in the third quarter of 2026 were $67.2 million as compared to $43.5 million in the third quarter of 2025. Total operating costs and expenses were $169.6 million in the first nine months of 2026 as compared to $145.9 million in the first nine months of 2025. Operating expenses for 2026 reflect an increase in research and development (R&D) expenses for both the third quarter and first nine months of 2026 and an increase in general and administrative (G&A) expenses for the third quarter of 2026 but a decrease in G&A expenses for the first nine months of 2026.

R&D expense in the third quarter of 2026 was $44.1 million as compared to $27.3 million for the third quarter of 2025. R&D expense in the first nine months of 2026 was $118.9 million as compared to $87.6 million for the first nine months of 2025. R&D expense increased primarily due to activities to support the Phase 3 ZENITH AD program in atopic dermatitis and the Phase 3 ZENITH AA program in alopecia areata, as well as manufacturing activities associated with rezpegaldesleukin.

G&A expense was $24.6 million in the third quarter of 2026 as compared to $16.1 million in the third quarter of 2025. G&A expense was $50.8 million in the first nine months of 2026 as compared to $57.5 million in the first nine months of 2025. G&A expense increased for the third quarter of 2026 but decreased in the first nine months of 2026, primarily due to an increase in legal expenses in the third quarter of 2026 and a decrease in legal expenses in the first nine months of 2026.

Our non-cash loss from our equity method investment in Gannet BioChem was $0.6 million in the third quarter of 2026, as compared to $0.5 million in the third quarter of 2025. The non-cash loss from the equity method investment was $2.7 million in the first nine months of 2026, as compared to $7.4 million in the first nine months of 2025.

Net loss for the third quarter of 2026 was $55.7 million or $1.63 basic and diluted net loss per share as compared to a net loss of $35.5 million or $1.87 basic and diluted loss per share in the third quarter of 2025. Net loss in the first nine months of 2026 was $141.2 million or $4.60 basic and diluted net loss per share as compared to a net loss of $128.0 million or $8.14 basic and diluted loss per share in the first nine months of 2025.

Third Quarter 2026 and Recent Business Highlights

Atopic Dermatitis

● In October 2026, Nektar announced the initiation of ZENITH AD-3, the third and final registrational trial in the global Phase 3 ZENITH AD program evaluating rezpegaldesleukin in atopic dermatitis. ZENITH AD-3 is enrolling patients with prior systemic biologic and/or JAK inhibitor treatment experience. The goal is to support a broad label. Initial topline data from the ZENITH AD program are expected in mid-2028, with a BLA submission targeted for 2029.

● In September 2026, data from a 100-patient biomarker sub-study of the Phase 2b REZOLVE-AD study in atopic dermatitis were presented by collaborators at the Icahn School of Medicine at Mount Sinai in a late-breaking oral presentation at the European Academy of Dermatology and Venereology (EADV) Congress 2026. The results showed early molecular responses to rezpegaldesleukin as early as Week 2 across multiple immune pathways that are known to be dysregulated in patients with atopic dermatitis. Additionally, these early serum biomarker changes were associated with subsequent clinical responses at Week 16. These findings support rezpegaldesleukin as a Treg-directed approach to treating heterogeneous inflammatory diseases like atopic dermatitis.

● In August 2026, results from the 16-week induction period of the Phase 2b REZOLVE-AD were published in The Lancet. As previously announced, the study met all primary and key secondary endpoints on the 24 micrograms per kilogram Q2W regimen, including at least a 75% improvement in the Eczema Area and Severity Index (EASI-75), at least a 90% improvement in the Eczema Area and Severity Index (EASI-90), validated Investigator Global Assessment of Atopic Dermatitis (vIGA-ADTM) response, and Itch Numerical Rating Scale (NRS) response and body surface area (BSA). The full citation of this article can be accessed at: https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(26)01143-8/fulltext.

● In July 2026, Nektar announced the initiation of the first two global registrational trials in the Phase 3 ZENITH AD program evaluating rezpegaldesleukin in moderate-to-severe atopic dermatitis. The program will include a total of three randomized, double-blind, placebo-controlled trials: ZENITH AD-1, ZENITH AD-2 and ZENITH AD-3.

Alopecia Areata

● In October 2026, data from the 52-week treatment extension cohort and the 6-month off-treatment period in the global Phase 2b REZOLVE-AA study in patients with severe-to-very-severe alopecia areata were presented at EADV 2026. As previously reported, continued rezpegaldesleukin treatment through Week 52 demonstrated clear and consistent separation from placebo on key measures of efficacy. Among the patients who achieved a SALT Score ≤20 from the 52-week treatment cohort, 75% (6/8) maintained that response after four months off treatment and 63% (5/8) maintained it after six months off treatment. Hair regrowth continued for 6 months off treatment with 19% of patients achieving SALT Score ≤10, an improvement from 7% at the end of 52 weeks of treatment. These data support evaluation of less frequent rezpegaldesleukin dosing (Q4W or Q12W) beyond the 52-week induction period for patients who achieve a SALT Score ≤20. The presentations at EADV were discussed on a conference call and webinar hosted by Nektar on October 1st. Dr. Benjamin Ungar, Director of the Alopecia Center of Excellence and Director of the Rosacea & Seborrheic Dermatitis Clinic at the Kimberly and Eric J. Waldman Department of Dermatology at Mount Sinai also participated in the call. A replay can be accessed on the company website here.

Conference Call to Discuss Third Quarter 2026 Financial Results

Nektar management will host a conference call to review the results beginning at 5:00 p.m. Eastern Time/2:00 p.m. Pacific Time, today, November 12, 2026.

This press release and live audio-only webcast of the conference call can be accessed through a link that is posted on the Home Page and Investors section of the Nektar website: View Source The web broadcast of the conference call will be available for replay through December 12, 2026.

To access the conference call, please pre-register here. All registrants will receive dial-in information and a PIN allowing them to access the live call.

(Press release, Nektar Therapeutics, NOV 12, 2026, View Source [SID1234674680])

Moleculin Secures Australian Patent for Annamycin Formulation Technology

On November 12, 2026 Moleculin Biotech, Inc. (Nasdaq: MBRX) ("Moleculin" or the "Company") reported the grant of an Australian patent covering the preparation of preliposomal Annamycin lyophilizate, strengthening the Company’s intellectual property protection for a key aspect of Annamycin’s formulation technology.

Australian Patent No. 2020303572 was granted to Moleculin and The Board of Regents of The University of Texas System. The patent titled, "Preparation of Preliposomal Annamycin Lyophilizate," addresses the preparation of Annamycin’s formulation.

"Securing this patent in Australia represents another step in our efforts to build a strong international intellectual property position around Annamycin," said Walter Klemp, Chairman and Chief Executive Officer of Moleculin. "Our formulation technology is an important component of Annamycin’s development, and protecting this technology across international markets supports our broader intellectual property strategy."

Expanding International Protection for Annamycin Formulation Technology

The Australian patent is part of Moleculin’s broader global intellectual property portfolio covering complementary technologies associated with Annamycin, the Company’s investigational anthracycline.

The patent portfolio includes granted or allowed patents in the United States, Canada, China, Europe, India, Israel, Japan, Mexico, Singapore and Taiwan. The application has also been accepted in South Africa, where formal grant is pending, while applications remain pending in additional jurisdictions, including South Korea.

Moleculin’s global patent strategy also encompasses additional technology areas, including methods for reconstituting liposomal Annamycin and lung-targeted anticancer therapies using liposomal Annamycin. Together, these efforts reflect the Company’s focus on establishing intellectual property protection across multiple aspects of Annamycin’s development and in key international markets.

Annamycin is an investigational anthracycline designed to address limitations associated with conventional anthracyclines. The drug candidate is being evaluated in clinical development for acute myeloid leukemia (AML) and other difficult-to-treat cancers.

(Press release, Moleculin, NOV 12, 2026, View Source [SID1234674679])