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Assertio Announces Completion of Merger with Zydus Lifesciences and Fundamental Change and Make-Whole Fundamental Change Relating to its Outstanding 6.50% Convertible Senior Notes due 2027

On June 16, 2026 Assertio Holdings, Inc. (Nasdaq: ASRT) ("Assertio" or the "Company") reported the successful completion of its previously announced merger (the "Merger") with Zydus Lifesciences Ltd. ("Zydus Lifesciences") pursuant to the terms of the Agreement and Plan of Merger, dated as of May 13, 2026 (the "Merger Agreement"), between, among others, the Company, Zydus Worldwide DMCC, a limited liability company incorporated under the laws of the United Arab Emirates and a wholly-owned subsidiary of Zydus Lifesciences ("Zydus") and Zara Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of Zydus and Zydus Lifesciences ("Purchaser"). Assertio will continue to operate as a wholly-owned subsidiary of Zydus Lifesciences. Effective today, Assertio common stock has been delisted from the Nasdaq Stock Exchange. Assertio stockholders are receiving $23.50 per share in cash in connection with the acquisition.

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Assertio also reported that it has delivered a notice to holders of its 6.50% Convertible Senior Notes due 2027 (the "Notes"), pursuant to the Indenture, dated as of August 25, 2022, between the Company and U.S. Bank Trust Company, National Association, as Trustee (as supplemented from time to time, the "Indenture"), notifying holders of the Notes that, as a result of the consummation of the Merger, pursuant to the terms of the Merger Agreement, a "Fundamental Change," a "Make-Whole Fundamental Change" and a "Merger Event," each as defined in the Indenture, occurred effective as of June 16, 2026 (the "Effective Date").

As a result of the Fundamental Change, holders of the Notes have the right (the "Fundamental Change Repurchase Right") to require the Company to repurchase for cash (i) all of such holder’s Notes or (ii) any portion of the principal amount thereof that is equal to $1,000 or an integral multiple of $1,000, in each case, on July 17, 2026 (the "Fundamental Change Repurchase Date"), at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest thereon, if any, to, but excluding, the Fundamental Change Repurchase Date (the "Fundamental Change Repurchase Price"). Holders may exercise their Fundamental Change Repurchase Right by delivering their Notes for repurchase by book-entry transfer, in compliance with The Depository Trust Company ("DTC") procedures in connection with tendering beneficial interests in a global note for repurchase, at any time on or before 5:00 p.m., New York City time, on July 16, 2026.

Notwithstanding the Fundamental Change Repurchase Right, the Notes are convertible, at the option of the Holder, at any time until 5:00 p.m., New York City time, on July 16, 2026 (the "Conversion Period"). Pursuant to the terms of the Indenture, in connection with the consummation of the Merger and the occurrence of a Merger Event, the Company and the Trustee entered into a First Supplemental Indenture to the Indenture, providing that, following the Effective Date, the consideration due upon conversion of each $1,000 principal amount of Notes shall be solely an amount of cash equal to the Conversion Rate (as defined in the Indenture) multiplied by the merger consideration of $23.50 per share of the Company’s outstanding common stock. The Conversion Rate in effect immediately prior to the Merger Event, taking into account all adjustments, was 16.2799 shares of common stock per $1,000 principal amount of Notes, reflecting a Conversion Price of approximately $61.46 (after giving effect to the 1-for-15 reverse stock split effective December 26, 2025). As a result, holders will be entitled to receive approximately $382.58 in cash per $1,000 principal amount of Notes validly surrendered for conversion. The Company shall satisfy the Conversion Obligation (as defined in the Indenture) by paying cash to converting holders on the second business day immediately following the relevant Conversion Date (as defined in the Indenture). Holders may convert their Notes by delivering the appropriate instruction form pursuant to DTC’s book-entry conversion program and transferring such Notes to U.S. Bank Trust Company, National Association, as conversion agent, through the transmittal procedures of DTC, prior to the end of the Conversion Period. Holders may not convert any Notes with respect to which they have delivered a Fundamental Change Repurchase Notice (as defined in the Indenture) unless such Holder first withdraws such notice in accordance with the terms of the Indenture.

The trustee, paying agent and conversion agent for the Notes is:

U.S. Bank West Side Flats Operations Center
Mail Station – EP-MN-WS2N
60 Livingston Avenue
St Paul, MN 55107
Attn: Conversion Processing – Assertio Holdings

None of the Company, Zydus or any of their respective affiliates, or any of its or their respective boards of directors, employees, advisors or representatives, or U.S. Bank Trust Company, National Association, in its role as trustee, paying agent and conversion agent, is making any representation or recommendation to any holder as to whether or not to surrender or convert such holder’s Notes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

(Press release, Assertio Holdings, JUN 16, 2026, View Source [SID1234668764])

Cizzle Bio Announces Laboratory Validation of CIZ1B Biomarker Blood Test for Early Lung Cancer at OmniHealth Diagnostics

On June 16, 2026 Cizzle Bio, Inc., a Texas-based biotechnology company advancing biomarker blood tests for early detection of lung and gastric cancers, reported the laboratory validation of its proprietary CIZ1B biomarker blood test for early lung cancer at OmniHealth Diagnostics, a CLIA-certified, COLA-accredited clinical laboratory based in Dallas and a member of the Katharos Health family of laboratories. With laboratory validation complete, Cizzle Bio is now finalizing launch readiness activities in preparation for the test’s near-term availability to U.S. healthcare providers.

The CIZ1B biomarker test is a novel, ELISA-based immunoassay that detects a protein variant associated with early-stage lung cancer using less than a tablespoon of blood. Designed to complement low-dose CT (LDCT) screening and other standard diagnostic approaches, the test can help clinicians assess cancer risk, clarify indeterminate findings and support clinical decision-making.

Because CIZ1B is offered as a laboratory-developed test (LDT), each CLIA-certified laboratory that performs the assay must complete its own validation process to verify analytical performance and ensure compliance with rigorous quality standards. Completion of the validation process at OmniHealth Diagnostics confirms the test’s readiness for use within a U.S. clinical laboratory environment and establishes a foundation for broader access as Cizzle Bio expands validation efforts with additional CLIA-certified laboratory partners.

Prior studies of the assay reported 95% sensitivity for stage I lung cancer detection and a 96% negative predictive value (NPV), supporting its potential role as an adjunctive tool for early detection.

"The laboratory validation of CIZ1B marks an important milestone in our mission to expand access to innovative tools for early cancer detection," said Bill Behnke, founder and chief executive officer of Cizzle Bio. "Lung cancer outcomes are closely tied to how early the disease is detected. By advancing a blood-based biomarker test, we aim to close critical gaps in early detection and help patients and their healthcare providers make more informed decisions about next steps in care."

Lung cancer remains the leading cause of cancer-related deaths in the United States and worldwide, with more than 229,000 new cases expected to be diagnosed in the United States in 2026, according to the American Cancer Society. Because symptoms often do not appear until the disease has advanced, lung cancer is frequently diagnosed at later stages, when five-year survival rates can fall to approximately 10%. By contrast, five-year survival rates approach 65% when lung cancer is detected early, according to the American Lung Association.

While approximately 14.2 million Americans are eligible for annual lung cancer screening under current U.S. Preventive Services Task Force guidelines, screening uptake remains low, and LDCT can produce false positives that lead to unnecessary follow-up procedures. The CIZ1B biomarker test may enhance risk stratification and reduce diagnostic uncertainty.

"We are committed to bringing high-quality diagnostic solutions into clinical practice," said Steve Kamalic, chief executive officer of OmniHealth Diagnostics. "Guided by a dedication to quality, scientific rigor, and clinical excellence, we are proud to partner with Cizzle Bio to help expand access to a promising new biomarker tool that may support earlier identification of lung cancer."

Built on more than three decades of research led by Professor Dawn Coverley, Ph.D., at the University of York, CIZ1B is being further evaluated in clinical studies with leading NCI-designated cancer centers, including Moffitt Cancer Center.

(Press release, Cizzle Bio, JUN 16, 2026, View Source [SID1234668763])

Niowave, Inc. and Ratio Therapeutics Sign Supply Agreement for Actinium-225 to Advance Targeted Alpha Therapies

On June 16, 2026 Niowave, Inc., a leading manufacturer of medical radioisotopes, and Ratio Therapeutics Inc. (Ratio), a clinical-stage pharmaceutical company developing radiopharmaceuticals for cancer treatment, reported a supply agreement for Actinium-225.

Under this agreement, Niowave will supply cGMP Actinium-225 to support Ratio’s development of targeted radiotherapeutics. The supply agreement provides Ratio with further reliable sourcing of Actinium-225 to support ongoing clinical trial activities and future program advancement.

Actinium-225 is a highly sought after alpha-emitting radioisotope with significant potential in targeted cancer therapies. When attached to targeting molecules, Actinium-225 delivers potent alpha radiation directly to cancer cells while minimizing damage to surrounding healthy tissue. As demand for targeted alpha therapies continues to grow, establishing a reliable domestic supply of Actinium-225 remains essential to clinical development and future commercialization.

"Niowave is the leading partner for companies with radiopharmaceutical programs that require a reliable, scalable supply of Actinium-225, and we are pleased to be working with Ratio," said Matt Burba, President and Chief Commercial Officer of Niowave. "Our agreement demonstrates the growing importance of medical radioisotopes, especially Actinium-225, and their potential to bring new hope to patients."

"Niowave’s expertise and growing production capabilities make them an important partner as we continue advancing our radiopharmaceutical pipeline," said John Babich, Ph.D., Chief Scientific Officer of Ratio Therapeutics. "This agreement supports our efforts to secure the Actinium-225 supply needed for ongoing clinical development while reinforcing our broader strategy of building the infrastructure and partnerships necessary to bring targeted alpha therapies to patients."

(Press release, Ratio Therapeutics, JUN 16, 2026, View Source [SID1234668762])

Verastem Oncology Doses First Patient in TARGET-D 201 Phase 2 Registration-Directed Trial of VS-7375 Oral KRAS G12D (ON/OFF) Inhibitor for KRAS G12D-Mutated Metastatic Pancreatic Cancer

On June 16, 2026 Verastem Oncology (Nasdaq: VSTM), a biopharmaceutical company committed to advancing new medicines for patients with RAS/MAPK pathway-driven cancers, reported that the first patient has been dosed in the TARGET-D 201 Phase 2 registration-directed trial (NCT07644559) evaluating VS-7375, an investigational oral KRAS G12D (ON/OFF) inhibitor with best-in-class potential, to treat patients with KRAS G12D-mutated metastatic pancreatic ductal carcinoma (mPDAC).

"Dosing the first patient in the TARGET-D 201 trial marks an important milestone in the development of VS-7375 for patients with KRAS G12D-mutated metastatic pancreatic cancer, where unmet need remains high," said Michael Kauffman, M.D., Ph.D., president of development at Verastem Oncology. "We believe VS-7375 has a differentiated profile, including potent KRAS G12D target inhibition and sustained target coverage, supporting its potential to play a significant role in treating multiple KRAS G12D-mutated tumor types. With three registration-directed Phase 2 clinical trials now underway across pancreatic, non-small cell lung, and colorectal cancers, and FDA Fast Track designations in pancreatic and non-small cell lung cancers, we are focused on accelerating development of VS-7375 as quickly as possible across multiple tumor types where no approved treatments exist."

TARGET-D 201 is a Phase 2, open-label, multi-center study to evaluate VS-7375 at 900 mg once daily (QD) both as monotherapy and in combination with full-dose cetuximab in patients with second-line metastatic pancreatic ductal carcinoma. The study is also evaluating VS-7375 900 mg and cetuximab in the first-line mPDAC setting, representing a potential chemotherapy-free frontline regimen. FDA Fast Track Designation was previously granted for VS-7375 for the treatment of KRAS G12D-mutated advanced or metastatic pancreatic cancer in both the first- and second-line treatment settings.

In June 2025, Verastem initiated TARGET-D 101, its Phase 1/2 dose escalation, dose expansion, and combination clinical trial evaluating VS-7375 in patients with advanced KRAS G12D-mutated pancreatic, non-small cell lung, colorectal, and other solid tumor cancers. Enrollment is ongoing with monotherapy dose escalation progressing from 400 mg through 900 mg QD doses without dose-limiting toxicities or major safety concerns observed to date. The study is currently evaluating a 1200 mg QD monotherapy dose and a 900 mg QD dose of VS-7375 in combination with full-dose cetuximab, as well as combinations with either gemcitabine plus nab-paclitaxel or carboplatin/pemetrexed/pembrolizumab.

About Pancreatic Cancer
Pancreatic cancer is the third leading cause of cancer-related death in the U.S. and seventh leading cause of cancer-associated mortality worldwide. Metastatic pancreatic cancer, or stage IV disease, occurs when the cancer spreads beyond the pancreas to distant organs. More than 90% of pancreatic cancers harbor KRAS mutations, underscoring the central role of KRAS in the development and the progression of the disease. Approximately 40% of pancreatic tumors harbor a KRAS G12D mutation, the most prevalent subtype in pancreatic cancer. Each year, more than 30,000 people in the U.S. and over 240,000 people globally are diagnosed with metastatic pancreatic cancer. There has been minimal progress with treatment, and the five-year survival rate remains approximately 3%. Current treatment approaches may include surgery, chemotherapy, radiation therapy, targeted therapies, or a combination of these modalities.

About KRAS G12D
KRAS G12D represents 26% of all KRAS mutations, making it the most prevalent KRAS mutation in human cancers. When the KRAS gene is mutated, it can promote cancer development and growth. Patients with KRAS G12D-mutant tumors often have poorer outcomes, underscoring the need for therapies designed specifically to inhibit this mutation potently and for a long duration. The KRAS G12D mutation occurs most commonly in pancreatic (40%), colorectal (15%), endometrial (8%), biliary tract (7-15%), and non-small cell lung (5%) cancers. Currently, no therapies are approved by the U.S. Food and Drug Administration specifically targeting KRAS G12D mutations in cancer.

About VS-7375, an Oral KRAS G12D (ON/OFF) Inhibitor & the TARGET-D Clinical Program
VS-7375 is a potential best-in-class, potent, and selective investigational oral KRAS G12D dual ON/OFF inhibitor. It is designed to uniquely bind to both the active (ON) and inactive (OFF) states of KRAS G12D, with the potential to inhibit KRAS G12D signaling and tumor growth more completely than compounds that block KRAS G12D only in the OFF state or only in the ON state.

In June 2025, Verastem initiated TARGET-D 101, a Phase 1/2 dose escalation, dose expansion, and combination clinical trial evaluating the safety and efficacy of VS-7375 in patients with advanced KRAS G12D mutant solid tumors. Verastem has further expanded the VS-7375 clinical program with the initiation of three Phase 2 registration-directed, open-label clinical trials: TARGET-D 201 (NCT07644559) in metastatic pancreatic ductal carcinoma, TARGET-D 202 in advanced non-small cell lung cancer, and TARGET-D 203 in metastatic colorectal cancer.

In July 2025, the U.S. Food and Drug Administration (FDA) granted Fast Track Designation (FTD) to VS-7375 for the first-line treatment of patients with KRAS G12D-mutated locally advanced or metastatic adenocarcinoma of the pancreas and for the treatment of patients with KRAS G12D-mutated locally advanced or metastatic pancreatic ductal carcinoma who have received at least one prior line of standard systemic therapy. In June 2026, the FDA also granted FTD to VS-7375 for the treatment of adult patients with KRAS G12D-mutated unresectable locally advanced or metastatic non-small cell lung cancer (NSCLC) who have received platinum-based chemotherapy and an anti-PD-(L)1 antibody either concurrently or sequentially.

In December 2023, Verastem selected VS-7375 as its lead program from its collaboration with GenFleet Therapeutics, which aims to advance three oncology discovery programs related to RAS/MAPK pathway-driven cancers. The collaboration provides Verastem with an exclusive option to obtain a license for each of the three compounds in the collaboration after the successful completion of pre-determined milestones in a Phase 1 trial. In January 2025, Verastem exercised its license for VS-7375. The licenses would give Verastem development and commercialization rights outside the GenFleet markets of mainland China, Hong Kong, Macau, and Taiwan. GenFleet is developing VS-7375 as GFH375 in China.

(Press release, Verastem, JUN 16, 2026, View Source [SID1234668761])

Vivesto reports positive results from i.v. Cantrixil PK/toxicology study

On June 16, 2026 Vivesto AB, an oncology-focused development company, reported positive results from its exploratory pharmacokinetic (PK) and toxicology study with Cantrixil. The study is the first conducted with Cantrixil administrated intravenously (i.v.) in a larger animal species (dog). The data support continued development of Cantrixil toward a Phase I clinical trial in acute myeloid leukemia (AML) in humans, and a pilot study in dogs with cancer.

The study results demonstrate that i.v. Cantrixil was well tolerated at all dose levels, with no adverse findings, no cardiovascular effects, and no signs of local irritation or toxicity at the injection site. Pharmacokinetic parameters, including blood concentration levels and half-life, were consistent with expectations and complement prior preclinical data.

"We are pleased to report that intravenous administration of Cantrixil was well tolerated and that both primary objectives were met in this exploratory study. We now have important information to complete the preclinical package needed to prepare a Phase I clinical trial in human AML, and the pharmacokinetic and safety data required to initiate a pilot study in dogs with cancer," says Erik Kinnman, CEO of Vivesto.

In the PK/toxicology study, four dogs received increasing i.v. doses of Cantrixil in three rounds at 2, 5 and 10 mg/kg. The study design and day 7 assessments support the intended once-weekly dosing frequency for both humans and dogs.

Cantrixil was well tolerated by all dogs, with no adverse or toxicologically relevant findings. No cardiovascular adverse effects were reported, a particularly important finding as cardiovascular toxicity is a known and often dose-limiting risk for cytotoxic agents. Furthermore, there were no local signs of irritation or toxicity at the injection site.
Hematological and clinical biochemistry parameters, which were analyzed before treatment start and 7 days after each treatment administration, a common timepoint for assessing cytotoxic agents, showed no alterations.

The pharmacokinetic parameters of Cantrixil, including blood concentration levels, were in line with previous observations from the in vivo study performed in a mouse model of AML earlier last year. Drug half-life was as expected, confirming that the i.v. formulation performs as intended and is consistent with existing preclinical documentation.

Together with previous findings, these new results support the continued advancement of Cantrixil toward a Phase I clinical trial in AML in humans, in parallel with continued CMC development to produce clinical trial material.

As previously announced, Vivesto is also developing Cantrixil for dogs with cancer, building on its anti-cancer mechanism of action and synergies with the company’s existing veterinary oncology program.

(Press release, Vivesto, JUN 16, 2026, View Source [SID1234668760])