On April 30, 2026 Rakovina Therapeutics Inc. ("Rakovina" or the "Company") (TSX-V: RKV) (FSE: 7J0), a biopharmaceutical company advancing next-generation cancer therapies through artificial intelligence (AI)-powered drug discovery, reported its financial results for the fourth quarter and fiscal year ended December 31, 2025, and provided a corporate update.

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As Rakovina enters 2026, the Company is advancing its three primary drug discovery programs toward key value-creating milestones. For kt-5000, lead optimization continues with Variational AI, with lead candidate selection and IND-enabling studies targeted for the second half of 2026. For kt-3283, in vivo ADME and efficacy testing of the LNP formulation is underway with NanoPalm. For kt-2000, a second round of AI output and in vitro testing is advancing. Across all programs, the Company intends to progress pharmaceutical partnership discussions as preclinical data matures.

"Completing the first phase of our restructuring marks an important inflection point for Rakovina," said Kim Oishi, CEO of Rakovina. "Through the recent debenture restructuring, new financing, and the strengthening of our board and executive team, we are well on our way to repositioning the Company for success. As we continue to put our financial house in order, we are sharpening our focus on execution — advancing our DDR inhibitor pipeline, expanding our strategic partnerships, and unlocking the full potential of our world-class AI-driven drug discovery engine to deliver value for our shareholders."

2025 Highlights and Recent Developments

Leadership and Board

On January 27, 2026, Rakovina appointed Kim Oishi as Chief Executive Officer. Mr. Oishi brings over 25 years of capital markets experience, including as founder of Grand Rock Capital Inc. and partner at First Growth Equity Partners Inc.
On January 27, 2026, Rakovina welcomed Frank Holler to its Board of Directors. Mr. Holler has been directly involved in the founding and development of a number of Canada’s leading biopharma companies, including ID Biomedical Corp., Angiotech Pharmaceuticals Inc. and Xenon Pharmaceuticals Inc.
On May 5, 2025, Rakovina appointed Dr. David Kideckel, PhD, MBA as Chief Financial Officer. Dr. Kideckel brings over 20 years of life sciences and capital markets experience, with prior senior operational and finance positions at both public and private companies, including at Johnson & Johnson, Alexion Pharmaceuticals (acquired by AstraZeneca), and ATB Cormark Capital Markets.
On April 29, 2025, Rakovina appointed Yevgeniy Meshcherekov and Dr. David Kideckel to the Board, with Mr. Meshcherekov assuming Chair of the Audit Committee.
Financing and Capital Structure

On March 5, 2026, Rakovina closed a non-brokered private placement of convertible debenture units for gross proceeds of $1,000,000 and concurrently restructured $1,587,131 in existing debentures through a combination of share settlements (3,265,585 shares at $0.12) and replacement debentures, significantly strengthening the Company’s balance sheet.
On July 15, 2025, Rakovina common shares became eligible for electronic clearing and settlement through the Depository Trust Company (DTC), broadening access for U.S. investors.
On June 24, 2025, Rakovina completed a 10-to-1 share consolidation of its issued and outstanding common shares.
On June 6, 2025, Rakovina closed a non-brokered private placement of equity units for gross proceeds of $3,555,150, concurrent with a $1,350,000 convertible debenture financing.
On January 30, 2025, Rakovina listed its common shares on the Frankfurt Stock Exchange (FSE) under the ticker symbol "7J0", broadening access to European investors.
AI Platform Partnerships

On January 8, 2026, Rakovina expanded its collaboration with Variational AI and its Enki generative AI platform for continued lead optimization of the kt-5000 dual ATR-mTOR inhibitor program.
On August 12, 2025, Rakovina and NanoPalm Ltd. (Riyadh, Saudi Arabia) announced a non-binding Letter of Intent to form a joint venture to co-develop AI-discovered oncology therapies, beginning with kt-3283 delivered via NanoPalm’s patterned lipid nanoparticle (pLNP) system designed using its EnsaliX AI platform.
Scientific and Clinical Milestones

In April 2026, Rakovina presented two posters at the 2026 AACR (Free AACR Whitepaper) Annual Meeting in San Diego. For kt-5000, a prototype lead candidate demonstrated in vivo tumour growth inhibition comparable to ceralasertib in an LNCaP prostate model, with significantly improved tolerability and no signs of hematological toxicity. For kt-3283 LNP, successful characterization of the EnsaliX-designed formulation confirmed uniform particle size, stable colloidal behavior, and surface features predicted to enhance cellular uptake.
On November 24, 2025, Rakovina presented two posters at the Society for Neuro-Oncology (SNO) Annual Meeting, reporting CNS penetrance, metabolic stability, and in vivo tolerability for lead candidates in both the kt-5000 and kt-2000 programs.
On November 18, 2025, Rakovina announced that President & CSO Prof. Mads Daugaard was invited to present and participate as a panelist at the 9th Annual DNA Damage Response (DDR) Inhibitors Summit in January 2026.
On October 27, 2025, Rakovina presented pre-clinical data at the AACR (Free AACR Whitepaper)-NCI-EORTC International Conference confirming potent ATR inhibition and CNS penetration for the kt-5000 series – a milestone differentiator in the DDR inhibitor space.
On August 26, 2025, Rakovina announced that President & CSO Prof. Mads Daugaard was invited to speak at the 13th Tuscany Retreat on Cancer Research & Apoptosis (August 23-30), highlighting Rakovina’s DDR-targeted drug discovery and development accomplishments.
On April 28-29, 2025, Rakovina presented pre-clinical data on the kt-2000 and kt-5000 programs at the 2025 American Association for Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting.
The Company’s preclinical kt-3283 program continues to demonstrate superior cytotoxicity versus FDA-approved olaparib and vorinostat across multiple tumor types, as reported in a peer-reviewed publication in Clinical Cancer Research.
Pipeline Progress

On July 23, 2025, Rakovina announced that its kt-5000 program had identified potent ATR inhibitor hits during early-stage screening.
On March 12, 2025, Rakovina received the first synthesized batch of AI-generated ATR inhibitor compounds from its Variational AI collaboration.
On January 13, 2025, Rakovina achieved a shortlist of AI-generated CNS-penetrant ATR-targeting molecules, completing the initial AI-driven candidate generation phase for kt-5000.
On January 6, 2025, Rakovina received initial synthesized AI-generated PARP inhibitor compounds for in vitro and in vivo validation in the kt-2000 program.
Summary Financial Results for the Fourth Quarter and Year Ended December 31, 2025

All dollar amounts reflected in Canadian dollars unless otherwise stated.

At December 31, 2025, the Company had a working capital deficit of approximately $2,149,223 and cash and cash equivalents of $298,758. For the three- and twelve-months ended December 31, 2025, the Company reported a net loss of $1,893,159 and $8,680,576, respectively. Research and development expenses were $828,931 and $4,603,002; general and administrative expenses were $972,872 and $3,684,750 for the three- and twelve-months ended December 31, 2025, respectively. Total operating expenses for the three- and twelve-months ended December 31, 2025 were $1,801,803 and $8,287,752, respectively.

Subsequent to year-end, the Company strengthened its balance sheet through approximately $1.0 million in new convertible debenture financing and the restructuring of $1,587,131 in existing debentures, as further described in the Company’s audited financial statements and MD&A for the year ended December 31, 2025, filed on SEDAR+.

Selected Financial Information As at December 31, 2025 ($)
Cash & cash equivalents 298,758
Working capital (deficit) (2,149,223)
Intangible assets 3,439,896
Total Assets 4,240,407
Total liabilities 4,100,682
Deficit (23,678,505)
Total equity 139,725
Three months ended Dec 31, 2025 ($) Three months ended Dec 31, 2024 ($) Year ended Dec 31, 2025 ($) Year ended Dec 31, 2024 ($)
Expenses
Research and development 828,931 744,533 4,603,002 2,341,600
General and administrative 972,872 650,268 3,684,750 1,446,451
Net loss before other items 1,801,803 1,394,801 8,287,752 3,788,051
Other items
Interest income (773) – (797) (5,819)
Interest expense 146,338 45,793 274,596 182,177
Accretion expense (37,860) 23,291 132,100 86,363
Loss (gain) on settlement of debt – 18,815 – 18,815
Loss (gain) on modification of convertible debt (18,623) – (18,623) –
Foreign exchange loss 2,275 1,288 5,548 3,031
Total other expense (income) 91,357 89,187 392,824 284,567
Net loss and comprehensive loss (1,893,159) (1,483,988) (8,680,576) (4,072,618)
Rakovina Therapeutics’ financial statements as filed with SEDAR+ can be accessed from the Company’s website at: View Source

(Press release, Rakovina Therapeutics, APR 30, 2026, View Source;utm_medium=rss&utm_campaign=rakovina-therapeutics-inc-announces-2025-financial-results-and-provides-corporate-update [SID1234664977])