Market Newsdesk

May 31, 2026 8:02 pm

BriaCell Therapeutics Announces Pricing of Offering

PHILADELPHIA and VANCOUVER, British Columbia, May 31, 2026 (GLOBE NEWSWIRE) — BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXL, BCTXZ) (TSX: BCT) (“BriaCell” or the “Company”), a clinical-stage biotechnology company developing novel immunotherapies to transform cancer care, today announced the pricing of a best-efforts offering of 1,449,300 common shares. Each common share is being sold at an offering price of $3.25 per share. All of the common shares in the offering are being offered by the Company. Total gross proceeds from the offering, before deducting placement agent’s fees and other offering expenses, are expected to be approximately $4.7 million. The offering is expected to close on June 2, 2026, subject to satisfaction of customary closing conditions. The Company is relying upon the exemption set forth in Section 602.1 of the TSX Company Manual, which provides that the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq.

The Company intends to use the net proceeds from the offering for working capital requirements, general corporate purposes, and the advancement of business objectives.

ThinkEquity is acting as sole placement agent for the offering.

The securities described above are being offered and sold by the Company pursuant to a shelf registration statement on Form S-3 (File No. 333-276650), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 22, 2024 and declared effective on January 31, 2024. The offering is being made only by means of a written prospectus. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and can be accessed for free on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41^st Floor, New York, New York 10004.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About BriaCell Therapeutics Corp.

BriaCell is an immuno-oncology-focused biotechnology company developing targeted and effective approaches for the management of cancer. More information is available at https://briacell.com/.

Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on BriaCell’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully under the heading “Risk Factors” in the Company’s most recent Annual Report on Form 10-K, and under “Risks and Uncertainties” in the Company’s other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under the Company’s profiles on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Forward-looking statements contained in this announcement are made as of this date, and BriaCell Therapeutics Corp. undertakes no duty to update such information except as required under applicable law.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

Company Contact:

William V. Williams, MD
President & CEO
1-888-485-6340
[email protected]

Investor Relations Contact:
[email protected]

May 31, 2026 7:33 pm

Ascentage Pharma Presents Its First Dataset on MDM2-p53 Inhibitor Alrizomadlin (APG-115) in Pediatric Solid Tumors at ASCO 2026

ROCKVILLE, Md. and SUZHOU, China, May 31, 2026 (GLOBE NEWSWIRE) — Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855), a global, commercial-stage, integrated biopharmaceutical company engaged in the discovery, development and commercialization of novel therapies to address unmet medical needs in cancer, today announced that the Company presented its first dataset of alrizomadlin (APG-115), an MDM2-p53 inhibitor from the Company’s apoptosis-targeted pipeline, as monotherapy or in combination with lisaftoclax (APG-2575) in pediatric patients with relapsed/metastatic rhabdomyosarcoma (RMS) or other soft-tissue sarcomas (STSs), in a rapid oral presentation at the 62^nd American Society of Clinical Oncology (ASCO) Annual Meeting.

The ASCO Annual Meeting showcases cutting-edge research in clinical oncology and advanced cancer therapies and is the world’s largest gathering of the clinical oncology community. This year marks Ascentage Pharma’s ninth consecutive appearance at ASCO. A total of six studies involving three of the Company’s key assets were selected for presentation, including three rapid oral presentations.

The data presented demonstrated preliminary antitumor activity and a manageable tolerability profile of alrizomadlin in pediatric solid tumors. Results showed that alrizomadlin monotherapy demonstrated initial clinical benefit in pediatric rhabdomyosarcoma (RMS), with one pediatric patient achieving a complete response (CR). In combination with investigational selective Bcl-2 inhibitor lisaftoclax, encouraging antitumor activity was observed, with an objective response rate (ORR) of 23.5% among 17 response-evaluable patients, including one complete response in a patient with Ewing sarcoma and three partial responses (PRs). In terms of safety, alrizomadlin, either as monotherapy or in combination with lisaftoclax, demonstrated a manageable safety profile in pediatric patients with solid tumors.

Alrizomadlin is an orally administered, highly selective MDM2-p53 inhibitor independently developed by Ascentage Pharma. It is the first investigational agent of its class to enter clinical development in China and has global first-in-class potential. By blocking the MDM2-p53 protein-protein interaction, alrizomadlin restores the tumor suppressor activity of p53 and induces apoptosis in tumor cells. Recently, alrizomadlin was officially included by the Center for Drug Evaluation (CDE) of China’s National Medical Products Administration (NMPA) in the Pilot Program for the Support of Anti-tumor Drugs R&D for Kids, also known as the “SPARK Plan,” for development in pediatric solid tumors including neuroblastoma, rhabdomyosarcoma, and Ewing sarcoma.

Professor Yizhuo Zhang, principal investigator of the study from the Department of Pediatric Oncology at Sun Yat-sen University Cancer Center, said: “Relapsed/refractory pediatric sarcomas are associated with extremely poor prognosis and substantial unmet medical needs. The data presented at the ASCO meeting demonstrated a favorable tolerability profile and promising anti-tumor effect for alrizomadlin both as monotherapy and in combination with lisaftoclax, with the complete response (CR) cases being particularly encouraging. As a key candidate included in the SPARK Plan, alrizomadlin has the potential to become a first-in-class therapy, address unmet medical needs, and bring new hope for long-term survival to pediatric patients.”

Professor Yi Zhang, investigator of the study from the Department of Pediatrics at Beijing Tongren Hospital, Capital Medical University, said: “Treatment options for pediatric solid tumors, especially advanced soft-tissue sarcomas, remain very limited. The clinical data generated by the alrizomadlin combination regimen are therefore particularly meaningful. This apoptosis pathway-targeting therapy demonstrated favorable tolerability and encouraging objective response rates, further supporting the therapeutic potential of dual-target combination approaches in refractory pediatric tumors and providing valuable direction for future precision drug development in pediatric oncology.”

Yifan Zhai, MD, Chief Medical Officer of Ascentage Pharma, said: “Pediatric solid tumors continue to represent an area of significant unmet medical need. The data presented at ASCO mark our first presentation of alrizomadlin clinical data in pediatric solid tumor patients and demonstrated encouraging preliminary clinical benefit and tolerability. Importantly, alrizomadlin has already been included by the CDE in the SPARK Plan for potential development in multiple pediatric solid tumors. The data presented provide initial clinical evidence supporting this development strategy. We will continue to advance the related clinical studies with the goal of bringing new treatment options to pediatric patients in urgent need.”

Key highlights from the study presented at the 2026 ASCO Annual Meeting are as follows:

Alrizomadlin (APG-115) alone or in combination with Lisaftoclax (APG-2575) for the treatment of pediatric patients with relapsed/metastatic rhabdomyosarcoma (RMS) or other soft-tissue sarcomas (STSs)

Abstract #: 10012
Presentation Type: Rapid Oral Presentation
Session Title: Pediatric Oncology II
First Author: Yizhuo Zhang, MD, Department of Pediatric Oncology, Sun Yat-sen University Cancer Center, State Key Laboratory of Oncology in South China, Collaborative Innovation Center for Cancer Medicine
Key Highlights:

Research Background: This multicenter clinical trial conducted in China evaluated the safety and preliminary efficacy of alrizomadlin (APG-115) as monotherapy or in combination with lisaftoclax in heavily pretreated pediatric patients with relapsed/metastatic RMS, Ewing sarcoma (EWS), neuroblastoma (NB), and other solid tumors.
Efficacy Data: In the monotherapy arm, 1 patient with refractory RMS achieved CR. In the combination arm, among 17 response-evaluable pediatric patients with relapsed/refractory solid tumors, the ORR was 23.5%, including 1 CR in a patient with EWS, as well as PRs in 2 patients with RMS and 1 patient with NB. The disease control rate (DCR) was 70.6%.
Safety Data: No dose-limiting toxicities (DLTs) were observed in either the monotherapy or combination arm. Adverse events were primarily gastrointestinal and hematologic, with few serious adverse events and no treatment-related deaths or discontinuations.
Conclusion: The regimen demonstrated a manageable safety profile and preliminary antitumor activity in pediatric solid tumors, supporting further investigation.

* Alrizomadlin is currently under investigation and has not yet been approved by the US FDA.

About Ascentage Pharma

Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) (“Ascentage Pharma” or the “Company”) is a global, commercial stage, integrated biopharmaceutical company engaged in the discovery, development and commercialization of novel, differentiated therapies to address unmet medical needs in cancer. The Company has built a rich pipeline of innovative drug products and candidates that include inhibitors targeting key proteins in the apoptotic pathway, such as Bcl-2 and MDM2-p53, next-generation kinase inhibitors, and protein degraders.

The Company’s first approved product, olverembatinib, is the first novel third-generation BCR-ABL1 inhibitor approved in China for the treatment of patients with CML in chronic phase (CML-CP) with T315I mutations, CML in accelerated phase (CML-AP) with T315I mutations, and CML-CP that is resistant or intolerant to first and second-generation TKIs. It is covered by the China National Reimbursement Drug List (NRDL). Ascentage Pharma is currently conducting an FDA- and EMA-cleared registrational Phase III trial, called POLARIS-2, of olverembatinib for CML, as well as an FDA- and EMA-cleared registrational Phase III trials for patients with newly diagnosed Ph+ ALL, called POLARIS-1, and SDH-deficient GIST patients, called POLARIS-3.

The Company’s second approved product, lisaftoclax, is a novel Bcl-2 inhibitor for the treatment of various hematologic malignancies. Lisaftoclax has been approved by China’s National Medical Products Administration (NMPA) for the treatment of adult patients with chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) who have previously received at least one systemic therapy including Bruton’s tyrosine kinase (BTK) inhibitors. The Company is currently conducting four global registrational Phase III trials: the FDA- and EMA- cleared GLORA study of lisaftoclax in combination with BTK inhibitors in patients with CLL/SLL previously treated with BTK inhibitors for more than 12 months with suboptimal response; the GLORA-2 study in patients with newly diagnosed CLL/SLL; the GLORA-3 study in newly diagnosed, elderly and unfit patients with AML; and the FDA- and EMA-cleared GLORA-4 study in patients with newly diagnosed higher risk MDS.

Leveraging its robust R&D capabilities, Ascentage Pharma has built a portfolio of global intellectual property rights and entered into global partnerships and other relationships with numerous leading biotechnology and pharmaceutical companies, such as Takeda, AstraZeneca, Merck, Pfizer, and Innovent, in addition to research and development relationships with leading research institutions, such as Dana-Farber Cancer Institute, Mayo Clinic, National Cancer Institute and the University of Michigan. For more information, visit https://ascentage.com/

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release may be forward-looking statements, including statements that express Ascentage Pharma’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results of operations or financial condition. These forward-looking statements are subject to a number of risks and uncertainties as discussed in Ascentage Pharma’s filings with the SEC, including those set forth in the sections titled “Risk factors” and “Cautionary note regarding forward-looking statements” in its Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on April 29, 2026, the sections headed “Forward-looking Statements” and “Risks Factors” in the prospectus of the Company for its Hong Kong initial public offering dated October 16, 2019, and other filings with the SEC and/or The Stock Exchange of Hong Kong Limited where the Company’s ordinary shares are listed it has made or it makes from time to time that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements contained in this presentation do not constitute profit forecast by the Company’s management.

As a result of these factors, you should not rely on these forward-looking statements as predictions of future events. The forward-looking statements contained in this press release are based on Ascentage Pharma’s current expectations and beliefs concerning future developments and their potential effects and speak only as of the date of such statements. Ascentage Pharma does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

Investor Relations:
Stella Yang
Ascentage Pharma
[email protected]
+1 (301) 792-6286

Stephanie Carrington
ICR Healthcare
[email protected]
+1 (646) 277-1282

Media Relations:
Sean Leous
ICR Healthcare
[email protected]
+1 (646) 866-4012

May 31, 2026 7:33 pm

Ascentage Pharma Presents Data on Olverembatinib in CML-LBP and Ph+ BCP-ALL at ASCO 2026

ROCKVILLE, Md. and SUZHOU, China, May 31, 2026 (GLOBE NEWSWIRE) — Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855), a global, commercial-stage, integrated biopharmaceutical company engaged in the discovery, development and commercialization of novel therapies to address unmet medical needs in cancer, today announced results from a Phase Ib study evaluating olverembatinib (HQP1351), the company’s core product, in combination with bispecific T-cell engager antibody (immunotherapy) blinatumomab in patients with lymphoid blast phase chronic myeloid leukemia (CML-LBP) or Philadelphia chromosome-positive B-cell precursor acute lymphoblastic leukemia (Ph+ BCP-ALL) were presented in a rapid oral presentation at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting.

The ASCO Annual Meeting is the world’s most prominent scientific gathering in the clinical oncology community, showcasing cutting-edge research in clinical oncology and advanced cancer therapies. This year marks Ascentage Pharma’s ninth consecutive appearance at the ASCO Annual Meeting. A total of six studies involving three of the Company’s key assets were selected for presentation, including three rapid oral presentations.

Data from this rapid oral presentation marks the first disclosure of olverembatinib combined with blinatumomab in international patients. The combination regimen demonstrated encouraging clinical activity in patients with relapsed/refractory Ph+ BCP-ALL or CML-LBP, with strong response rates and minimal residual disease (MRD) clearance. In terms of safety, the combination regimen was generally well tolerated, with a safety profile consistent with individual agent toxicities.

Olverembatinib is a novel drug developed by Ascentage Pharma and represents the first third-generation BCR-ABL inhibitor approved in China. Olverembatinib is currently being jointly commercialized in China by Ascentage Pharma and Innovent Biologics. The drug is currently approved in China for: adult patients with tyrosine kinase inhibitor (TKI)-resistant chronic-phase chronic myeloid leukemia (CML-CP) or accelerated-phase CML (CML-AP) harboring the T315I mutation; and adult patients with CML-CP resistant to and/or intolerant of first- and second-generation TKIs, with all approved indications now covered by the China National Reimbursement Drug List (NRDL). Ascentage Pharma is currently conducting three global registrational Phase III studies to evaluate olverembatinib in multiple indications, including CML-CP, newly diagnosed Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL), and succinate dehydrogenase (SDH)-deficient gastrointestinal stromal tumors (GIST), with two of these studies having been cleared by the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA). Ascentage Pharma has signed an exclusive option agreement to enter into an exclusive license agreement with Takeda for olverembatinib. In the event that Takeda exercises the option, Takeda would license the global rights to develop and commercialize olverembatinib in all territories outside of, among others, mainland China, Hong Kong, Macau, and Taiwan, China.

Professor Elias Jabbour, MD, the principal investigator of the study from the Department of Leukemia at The University of Texas MD Anderson Cancer Center, stated: “Patients with relapsed or refractory Ph-positive ALL or CML in lymphoid blast phase have a significant unmet medical need. The promising activity and tolerability observed with the combination of olverembatinib and blinatumomab highlight its potential as a novel, chemotherapy-free strategy in this difficult-to-treat setting.”

Yifan Zhai, MD, Chief Medical Officer of Ascentage Pharma, said: “This rapid oral presentation marks the first validation in international patients of the therapeutic potential of olverembatinib combined with blinatumomab in CML-LBP and relapsed/refractory Ph+ BCP-ALL. These two diseases have long been considered among the most difficult-to-treat BCR-ABL-driven hematologic malignancies, representing terminal-stage settings with the poorest prognoses and fewest treatment options. The data presented are highly encouraging and may help to address the longstanding unmet need in blast phase disease. We look forward to advancing this program through further clinical studies and translating these findings into sustained patient benefit. Moving forward, we remain committed to our mission of addressing unmet clinical needs for patients worldwide by accelerating clinical development and bringing safe and effective therapies to patients as soon as possible.”

Key highlights from the study presented at the 2026 ASCO Annual Meeting are as follows:

Olverembatinib (HQP1351) combined with blinatumomab in patients with lymphoid blast phase chronic myeloid leukemia (CML-LBP) or Philadelphia chromosome-positive B-cell precursor acute lymphoblastic leukemia (Ph+ BCP-ALL)

Abstract #: 6513
Presentation Type: Rapid Oral Presentation
Session Title: Hematologic Malignancies—Leukemia, Myelodysplastic Syndromes, and Allotransplant
First Author: Elias Jabbour, MD, Department of Leukemia, The University of Texas MD Anderson Cancer Center
Key Highlights:

Background: Olverembatinib has previously demonstrated clinical activity in TKI-resistant Ph+ hematologic malignancies. This study evaluated olverembatinib combined with blinatumomab in patients with relapsed/refractory (R/R) Ph+ B-cell precursor acute lymphoblastic leukemia (Ph+ BCP-ALL) or CML-LBP across global sites.
Efficacy Data: A total of 91% (10/11) of patients achieved complete response (CR) or complete response with incomplete hematologic recovery (CRi). In addition, 67% (8/12) of patients achieved BCR::ABL1 negativity by PCR (≤0.01%), and 80% (8/10) achieved minimal residual disease (MRD) negativity by flow cytometry (≤0.01%).
Safety Data: The combination regimen demonstrated a manageable safety profile, with most adverse events (AEs) being grade 1-2, consistent with the known toxicities of each agent.
Conclusion: This study is the first to demonstrate the feasibility of olverembatinib combined with immunotherapy in international patients with CML-LBP and R/R Ph+ BCP-ALL.

* Olverembatinib is currently under investigation and has not yet been approved by the US FDA.

About Ascentage Pharma

Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) (“Ascentage Pharma” or the “Company”) is a global, commercial stage, integrated biopharmaceutical company engaged in the discovery, development and commercialization of novel, differentiated therapies to address unmet medical needs in cancer. The Company has built a rich pipeline of innovative drug products and candidates that include inhibitors targeting key proteins in the apoptotic pathway, such as Bcl-2 and MDM2-p53, next-generation kinase inhibitors, and protein degraders.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release may be forward-looking statements, including statements that express Ascentage Pharma’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results of operations or financial condition. These forward-looking statements are subject to a number of risks and uncertainties as discussed in Ascentage Pharma’s filings with the SEC, including those set forth in the sections titled “Risk factors” and “Cautionary note regarding forward-looking statements” in its Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on April 29, 2026, the sections headed “Forward-looking Statements” and “Risks Factors” in the prospectus of the Company for its Hong Kong initial public offering dated October 16, 2019, and other filings with the SEC and/or The Stock Exchange of Hong Kong Limited where the Company’s ordinary shares are listed it has made or it makes from time to time that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements contained in this presentation do not constitute profit forecast by the Company’s management.

Contact Information

Investor Relations:
Stella Yang
Ascentage Pharma
[email protected]
+1 (301) 792-6286

Stephanie Carrington
ICR Healthcare
[email protected]
+1 (646) 277-1282

Media Relations:
Sean Leous
ICR Healthcare
[email protected]
+1 (646) 866-4012

May 31, 2026 7:33 pm

Ascentage Pharma Presents Updated Clinical Data for Olverembatinib as Second-Line Therapy in CML-CP at ASCO 2026

ROCKVILLE, Md. and SUZHOU, China, May 31, 2026 (GLOBE NEWSWIRE) — Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855), a global, commercial-stage, integrated biopharmaceutical company engaged in the discovery, development and commercialization of novel, differentiated therapies to address unmet medical needs in cancer, today announced updated efficacy and safety data from a clinical study of its first approved product, olverembatinib (HQP1351), as a second-line therapy in patients with chronic-phase chronic myeloid leukemia (CML-CP) were presented in a rapid oral presentation at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting.

Data presented in this rapid oral presentation showed that, at cycle 24, patients with CML-CP treated with olverembatinib achieved a complete cytogenetic response (CCyR) rate of 91.3% and a major molecular response (MMR) rate of 60.9%. Responses deepened over time with longer treatment duration. Olverembatinib demonstrated a stable and manageable safety profile during long-term treatment, with no new safety signals identified. This longer follow-up study has generated more mature and encouraging results, further supporting the efficacy and safety of olverembatinib in patients with CML without the T315I mutation and reinforcing its potential role as a second-line treatment option for patients with CML-CP that failed first-line TKI therapy.

Olverembatinib is a novel drug developed by Ascentage Pharma and represents the first third-generation BCR-ABL1 inhibitor approved in China. Olverembatinib is currently being jointly commercialized in China by Ascentage Pharma and Innovent Biologics. The drug is currently approved in China for adult patients with tyrosine kinase inhibitor (TKI)-resistant CML-CP or accelerated-phase CML (CML-AP) harboring the T315I mutation; and adult patients with CML-CP resistant to and/or intolerant of first- and second-generation TKIs, with all approved indications now covered by the China National Reimbursement Drug List (NRDL). Ascentage Pharma is currently conducting three global registrational Phase III studies to evaluate olverembatinib in multiple indications, including CML-CP, newly diagnosed Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL), and succinate dehydrogenase (SDH)-deficient gastrointestinal stromal tumors (GIST), with two of these studies having been cleared by the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA). Ascentage Pharma has signed an exclusive option agreement to enter into an exclusive license agreement with Takeda for olverembatinib. In the event that Takeda exercises the option, Takeda would license the global rights to develop and commercialize olverembatinib in all territories outside of, among others, mainland China, Hong Kong, Macau, and Taiwan, China.

Professor Weiming Li, the
Principal Investigator of this study from Union Hospital of Tongji Medical College, Huazhong University of Science and Technology, stated: “Overall, with longer treatment duration, olverembatinib not only helped patients achieve deeper responses, but also continued to provide durable clinical benefit while maintaining a favorable safety and tolerability profile, resulting in good patient adherence. These findings further support its role as a potential second-line treatment option for patients with CP-CML without the T315I mutation and provide stronger evidence for clinical practice. We also look forward to additional long-term follow-up data to further validate its efficacy and safety, and to provide stronger evidence-based support for the standardized use and guideline recommendations of olverembatinib in the second-line treatment setting, helping to deliver more optimized treatment options for patients and clinicians.”

Yifan Zhai, MD, Chief Medical Officer of Ascentage Pharma, said: “The updated data presented at ASCO once again demonstrated the consistent performance of olverembatinib in the second-line treatment of CML, further strengthening our confidence in advancing this therapy into earlier lines of treatment. We look forward to continuously accumulating evidence from second-line and earlier-line settings to further optimize the treatment pathway for patients with CML and help to deliver greater clinical benefit, longer survival, and improved quality of life. Moving forward, we will continue to uphold our mission of addressing unmet clinical needs for patients around the world by accelerating clinical development and bringing more safe and effective therapies to patients as soon as possible.”

Key highlights from the study presented at the 2026 ASCO Annual Meeting are as follows:
Updated efficacy and safety of Olverembatinib (HQP1351) as second-line therapy in patients with chronic-phase chronic myeloid leukemia (CP-CML)
Abstract #: 6510
Format: Rapid oral presentation
Session Title: Hematologic Malignancies—Leukemia, Myelodysplastic Syndromes, and Allotransplant
First Author: Weiming Li, MD, Department of Hematology, Union Hospital, Tongji Medical College, Huazhong University of Science and Technology, Wuhan, China
Key Highlights:

Research Background: This is a single-arm, multicenter, open-label study conducted in China, evaluating the efficacy and safety of olverembatinib as a second-line treatment.
Efficacy Data: Among 42 evaluable patients, olverembatinib demonstrated significant and progressively deepening anti-tumor activity, with a best CCyR rate of 76.2% and a best MMR rate of 47.6% at study cutoff. Responses continued to improve with longer treatment duration, reaching 91.3% and 60.9%, respectively, at cycle 24. High response rates were also observed in patients previously treated with second-generation TKIs.
Safety Data: In terms of safety, the overall incidence of treatment-related adverse events was 89.4%, most of which were manageable low-grade events, primarily including but not limited to skin hyperpigmentation, hyperuricemia, and increased creatine phosphokinase. Although some grade ≥3 hematologic toxicities were observed, they were all recoverable through supportive treatment.
Conclusion: Overall, olverembatinib demonstrated durable and progressively deepening efficacy while maintaining a manageable safety profile, highlighting its promising clinical potential.

* Olverembatinib is currently under investigation and has not yet been approved by the US FDA.

About Ascentage Pharma

Cautionary Note Regarding Forward-Looking Statements

Contact Information

Investor Relations:

Stella Yang
Ascentage Pharma
[email protected]
+1 (301) 792-6286

Stephanie Carrington
ICR Healthcare
[email protected]
+1 (646) 277-1282

Media Relations:

Sean Leous
ICR Healthcare
[email protected]
+1 (646) 866-4012

May 31, 2026 7:33 pm

Faraday Future Founder and Global CEO YT Jia Shares Weekly Investor Update: Total Sales and Shipments of EAI Robots Reached 69 Units in May, a New Record, Exceeding the Combined Total for the Months of March and April

Faraday Future Founder and Global CEO YT Jia Shares Weekly Investor Update: Total Sales and Shipments of EAI Robots Reached 69 Units in May, a New Record, Exceeding the Combined Total for the Months of March and April

FF has formally submitted a referral letter to the SEC regarding potentially illegal short selling and market manipulation, as we continue to fight illegal short selling.
The decentralized Data Factory has completed its first deployments on actual robots and is now ready to begin distributed data collection and training based on real-world robot operations.

LOS ANGELES–(BUSINESS WIRE)–
Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future”, “FF” or the “Company”), a California-based global Embodied AI (EAI) ecosystem company, today shared a weekly business update from YT Jia, Founder and Global CEO of FF.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260531020433/en/

Faraday Future Founder and Global CEO YT Jia Shares Weekly Investor Update: Total Sales and Shipments of EAI Robots Reached 69 Units in May, a New Record, Exceeding the Combined Total for the Months of March and April

“Welcome to Issue 57 of our weekly report. In the final week of May, we would like to highlight two pieces of good news: first, total sales and shipments of EAI robots reached 69 units in May, exceeding the combined total for March and April; second, the Company has formally submitted a referral letter to the SEC regarding potentially illegal short selling and market manipulation, as we continue to fight illegal short selling.

On the Device side of our Three-in-One strategy: robot device sales and shipments reached a new record high in May. This marks the continued acceleration of FF EAI robot sales and deployment, giving us greater confidence in achieving our shipment targets of 200 units in the first delivery season and 1,500 units for the full year. More importantly, it shows that FF’s multi-form EAI robot device roadmap is beginning to show early results. Unlike companies such as Tesla, which focus on a single general-purpose humanoid robot, FF is delivering EAI devices in multiple forms, including both humanoid and bionic robots. By addressing real-world needs in education, security and inspection, reception and guidance, healthcare, and other use cases, we aim to match the right device form with the right use case. Through the Robot Vocational Academy we’re building, we aim to help EAI robots enter the real physical world faster, speed up the shift toward specialized expertise and professional roles for robots, and accelerate their mass adoption and continuous evolution.

On the EAI Brain & Open-Source and Open Developer Platform side:

Strong developer talent is continuing to join our ecosystem. Among the first group of developers who have joined us, many come from leading universities such as Stanford, Carnegie Mellon, and UCI. As our developer ecosystem continues to grow, the development, availability, and iteration of Skills/Agents for a wide range of real-world use cases will continue to accelerate. This will help FF’s robotics products evolve beyond standalone hardware into an open ecosystem platform where hardware, brain, models, data, developers, and use cases work in synergy and grow together.

On the EAI Data Factory:

The decentralized Data Factory has completed its first deployments on actual robots and is now ready to begin distributed data collection and training based on real-world robot operations. FF’s B2B and B2C robot users — including home education, educational institutions, auto dealers, healthcare institutions, and others — will become real-world nodes for EAI data generation and feedback. At the same time, we completed the initial data delivery under our first data sales order this week. This further strengthens the Data Factory’s business and commercialization loops, amplifying the evolutionary flywheel effect across ‘Device-Data-Brain.’

Under our AI First Transformation Strategy:

FF’s Three-in-One ecosystem continues to make meaningful progress across all fronts. I also want to take this opportunity to extend an invitation to the generation of AI natives. If you’re passionate about AI, understand AI, and want to help shape how AI is applied in the real-world operations, we’d love to hear from you. Join us as we help define the future of human-robot collaboration and build the next generation of EAI products.

On the Capital Markets Front:

The Company has formally submitted a referral letter to the SEC regarding information related to suspected illegal short-selling activities targeting FF. We have requested that regulators review and investigate potential misconduct, including the dissemination of misleading information, defamation, attempts to manipulate investor sentiment, the creation of unwarranted market panic, and illegal profiting from market misconduct.

Going forward, we will continue to protect the interests of the company and our stockholders through appropriate legal and regulatory channels, ensuring that FF’s market value more accurately reflects its operating fundamentals, long-term potential and continue putting Stockholders First in everything we do.

In addition, over the past two weeks, Jerry Wang has represented FF at several major industry and investor events, including the Deutsche Bank Global Auto, Mobility & Robotics Conference and the Centurion One Miami conference, where he shared updates on FF’s progress in Physical AI, EAI robotics, and EAI vehicle development. On June 4, Jerry will also participate in the AI Investment Roundtable at the World Leaders Summit in New York, as we continue expanding our dialogue and engagement with leading institutional investors around the world.

Looking ahead, FF will soon hold an all-hands meeting at our new headquarters, where we will share additional goals and initiatives for Phase Two and Phase Three of our Five New Transformations with our team. I will also include this information in the upcoming weekly report. Thank you all. See you next week!”

ABOUT FARADAY FUTURE

Founded in 2014, Faraday Future (FF) is a U.S.-based Physical AI ecosystem company dedicated to reshaping the future of robotics and mobility solutions through AI innovation and technologies. FF focuses on two major product strategies within the Embodied AI (EAI) robotics business: EAI humanoid and bionic robots, and EAI automotive-focused robots. By building a Three-in-One ecosystem of “Device, Data, EAI Brain & Open-Source and Open Platform,” FF aims to create an evolutionary flywheel: scaled device delivery, data collection and training, continuous evolution of the EAI Brain, stronger product capability, and even larger-scale delivery and deployment. Through this flywheel, FF seeks to maximize its commercial value and lead to the advancement of Physical AI. For more information, please visit Faraday Future’s official website: https://www.ff.com/

FORWARD LOOKING STATEMENTS

This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “plan to,” “can,” “will,” “should,” “future,” “potential,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding potential future legal actions against alleged illegal market manipulation or similar improper activities, and FF’s entry into the embodied AI robotics market and robotics deliveries and development, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, that may affect actual results or outcomes include, among others: the Company’s ability to timely regain compliance with Nasdaq’s minimum bid requirement; the Company’s common stock will be suspended from trading on Nasdaq if its closing price is $0.10 or less for 10 consecutive trading days; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations, which it currently lacks; the availability of sufficient share capital to meet its current obligations and execute on its strategy, which the Company currently lacks; the agreement of stockholders to substantially increase the Company’s share capital, which could result in substantial additional dilution; the willingness of convertible debt investors to fund the Company while it lacks sufficient share capital for conversions; demand for the Company’s robotics products; the ability of B2B preorder companies to locate customers to purchase our robotics products, on which their nonbinding preorders substantially depend; competition in the robotics industry, which includes companies with far superior experience, funding and name recognition; the Company’s reliance on a single OEM for most of its robotics products; the Company’s ability to get the planned robotics products to comply with all applicable U.S. rules and regulations; the ability of the robotics OEM to timely supply robotics to the Company; tariff uncertainty for imported products, particularly from China; demand from automobile dealers for robotics products; the Company’s ability to homologate FX vehicles for sale; the Company’s ability to secure the necessary funding to execute on the FX strategy, which is substantial; the Company’s ability to secure an occupancy certificate covering all of its Hanford facility; the Company’s ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of substantial losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company’s control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company’s operations in China; the success of the Company’s remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company’s ability to develop and protect its technologies; the Company’s ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 14, 2026, and Form 10-K filed with the SEC on March 31, 2026, and other documents filed by the Company from time to time with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260531020433/en/

Investors (English): [email protected]

Investors (Chinese): [email protected]

Media: [email protected]

KEYWORDS: California New York United States North America

INDUSTRY KEYWORDS: Software Networks EV/Electric Vehicles Hardware Robotics Data Management Technology Other Education Automotive Artificial Intelligence Education Automotive Manufacturing Manufacturing

MEDIA:

Photo

Logo

May 31, 2026 6:03 pm

Cango Inc. Reports First Quarter 2026 Unaudited Financial Results

PR Newswire

DALLAS, May 31, 2026 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a leading Bitcoin miner leveraging its global operations to develop an integrated energy and AI compute platform, today announced its unaudited financial results for the first quarter ended March 31, 2026.

First Quarter of 2026 Financial and Operational Highlights

Financial Performance: In the first quarter of 2026, the Company generated total revenue of US$102.0 million, primarily driven by US$98.4 million from its Bitcoin mining business. The Company reported a net loss of US$261.1 million, primarily due to non-cash impairment charges on Bitcoin mining machines and changes in the fair value of Bitcoins, both resulting from the decline in bitcoin market prices. Long-term debt was reduced to US$30.6 million, down from US$557.6 million as of December 31, 2025. As of quarter-end, the Company held 1,026 Bitcoin in digital asset reserves.
Mining Operations and Costs: The Company continued to enhance operating efficiency while maintaining a disciplined operational footprint. Total hashrate was 37.01 EH/s, comprising 27.98 EH/s of self-mining capacity and 9.02 EH/s of leased hashrate capacity. During the quarter, the Company mined 1,266 Bitcoin. Ongoing fleet optimization and disciplined cost management drove a 9.0% sequential reduction in average cash cost per Bitcoin to US$76,928 compared to the fourth quarter of 2025, reinforcing the Company’s focus on operational efficiency.
AI Development: Building on its core infrastructure capabilities, the Company made meaningful progress in its strategic expansion into AI compute. During the quarter, the Company launched EcoHash, a new commercial platform leveraging Cango’s existing expertise in energy management and high-density computing. The Company is working on pilot deployment of modular, containerized compute units which supports a phased roadmap that begins with GPU compute leasing and scales toward a global AI compute network over time.

Mr. Paul Yu, Chief Executive Officer of Cango, said, “We are executing a disciplined strategy to strengthen our mining foundation while advancing into AI infrastructure through EcoHash. In recent months, we have seen positive developments, including continued cost reductions driven by our fleet upgrade strategy, as well as steady operational performance across our global mining footprint. At the same time, our EcoHash initiative continues to progress, with pilot deployments advancing on schedule. By leveraging our global energy network and operational expertise, we are well-positioned to enhance efficiency, capture emerging AI compute opportunities, and drive sustainable long-term value.”

Mr. Simon Tang, Chief Financial Officer of Cango, stated, “Despite a challenging quarter affected by industry adjustments and non-cash impacts, we made meaningful progress in improving our cost structure and strengthening our balance sheet. We reduced long-term debt, and achieved continued declines in mining cash costs through disciplined execution. Going forward, we remain focused on enhancing cash flow resilience, maintaining financial flexibility, and supporting the Company’s strategic transition into more efficient and diversified infrastructure.”

First Quarter 2026 Financial Results from Continuing Operations

REVENUES

During the quarter, total revenues were US$102.0 million, and revenues from Bitcoin mining were US$98.4 million. Compared with the fourth quarter of 2025, total revenue decreased approximately 43%, primarily reflecting the Company’s proactive reduction of operating hashrate as it phased out older, less efficient S19 series mining machines and transitioned some capacity to a leased hashrate.

OPERATING COSTS AND EXPENSES

During the quarter, total operating costs and expenses were US$356.4 million. These costs were primarily associated with the Company’s Bitcoin mining business, the recognition of impairment loss on mining machines, the loss on disposal of mining machines, and the loss from changes in fair value of receivable for Bitcoin collateral.

Cost of revenue (exclusive of depreciation shown below) was US$99.6 million, down from US$155.3 million in the fourth quarter of 2025. This was driven by lower electricity and hosting expenses following the hashrate reduction.
Depreciation was US$29.4 million.
General and administrative expenses, including related-party fees, totaled US$7.2 million.
Impairment loss from mining machines was US$49.0 million.
Loss on disposal of mining machines was US$20.3 million.
Loss from changes in fair value of receivable for Bitcoin collateral was US$151.8 million, compared to US$171.4 million in the fourth quarter of 2025. This non-cash loss was primarily driven by lower Bitcoin prices during the quarter.

LOSS FROM OPERATIONS

Loss from operations in the first quarter of 2026 was US$254.4 million, compared with an operating loss of US$26.9 million in the same period of 2025, primarily due to the decline in Bitcoin prices.

NET LOSS FROM CONTINUING OPERATIONS

Net loss from continuing operations in the first quarter of 2026 was US$261.1 million, compared with a net loss of US$28.3 million in the same period of 2025.

ADJUSTED EBITDA

Adjusted EBITDA loss in the first quarter of 2026 was US$-154.1 million compared with adjusted EBITDA loss of US$1.7 million in the same period of 2025.

BALANCE SHEET

As of March 31, 2026, the Company held:

Cash and cash equivalents of US$7.2 million, down from US$41.2 million at year-end 2025, mainly due to debt repayments and operational activities.
Receivable for Bitcoin collateral (non-current, related party) with a net value of US$68.2 million.
Mining machines with a net value of US$130.8 million.
Long-term debts (related party) of US$30.6 million, compared with US$557.6 million as of December 31, 2025.

The substantial reduction in both the receivable for Bitcoin collateral and the associated long-term debt reflects the Company’s proactive deleveraging efforts during the quarter.

Conference Call Information

The Company’s management will hold a conference call on Sunday, May 31, 2026, at 9:00 P.M. Eastern Time or Monday, June 1, 2026, at 9:00 A.M Hong Kong Time to discuss the financial results. Listeners may access the call by dialing the following numbers:

International: +1-412-902-4272
United States Toll Free: +1-888-346-8982
Mainland China Toll Free: 4001-201-203
Hong Kong, China Toll Free: 800-905-945
Conference ID: Cango Inc.

The replay will be accessible through June 7, 2026, by dialing the following numbers:

International: +1-412-317-0088
United States Toll Free: +1-855-669-9658
Access Code: 3013185

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at http://ir.cangoonline.com.

About Cango Inc.

Cango Inc. (NYSE: CANG) is a Bitcoin mining company with a vision to establish an integrated, global infrastructure platform capable of powering the future digital economy. The Company’s mining operations span over 40 sites across North America, the Middle East, South America, and East Africa.

Since entering the digital asset space in November 2024, Cango has activated pilot projects in both integrated energy solutions and distributed AI computing. In parallel, Cango continues to operate an online international used car export business through AutoCango.com.

For more information, please visit: www.cangoonline.com and follow us on: X and LinkedIn.

Use of Non-GAAP Financial Measure

As part of our review of business performance, we present adjusted EBITDA as a non-GAAP financial measure to help assess our core operating results. Adjusted EBITDA is defined as net income or loss before interest, taxes, depreciation, and amortization, impairment, results from discontinued operations and further excludes share-based compensation expenses, loss on disposal of mining machines and other non-operating income and expenses. We believe adjusted EBITDA can be an important financial measure because it allows management, investors, and our board of directors to evaluate and compare our operating results, including our return on capital and operating efficiency from period-to-period by making such adjustments.

While adjusted EBITDA is not a measure defined under U.S. GAAP, management uses it to evaluate performance, make strategic decisions, and set operating plans. Management believes it also helps investors gain a clearer understanding of our underlying performance by excluding certain costs and expenses that management believes are not indicative of the Company’s core operating results. The presentation of this non-GAAP financial measures is not meant to be considered in isolation or as a substitute for results or guidance prepared and presented in accordance with U.S. GAAP.

The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

Reconciliations of Cango’s non-GAAP financial measure to the most comparable U.S. GAAP measure are included at the end of this press release.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this announcement, contain forward-looking statements. Cango may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) , in its annual report on Form 20-F, its current reports on Form 6-K, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Cango’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: volatility in Bitcoin price and the resulting impact on the Company’s Bitcoin holdings, mining equipment and related receivables; Bitcoin network difficulty, halving events and the cost and availability of electricity; the Company’s ability to execute its AI compute strategy, including the commercialization and scaling of the EcoHash platform; the Company’s liquidity, indebtedness and ability to access additional financing; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Cango’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Cango does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact
Juliet Ye, Head of Communications
Cango Inc.
Email: [email protected]

Christensen Advisory
Tel: +852 2117 0861
Email: [email protected]

CANGO INC. UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in US dollar (“US$”), except for number of shares ）

	As of December 31, 2025	As of March 31, 2026
	US$	US$

ASSETS:
Current assets:
Cash and cash equivalents	41,243,627	7,171,427
Crypto currencies	42,545	7,887,617
Accounts receivable, net	1,661,702	2,486,551
Accounts receivable, net – related parties	1,064,440	56,852
Prepayments and other current assets, net	6,835,599	64,131,941
Other current assets, net – related party	74,270,770	55,203,008
Total current assets	125,118,683	136,937,396

Non-current assets:
Mining machines, net	248,745,505	130,802,268
Property, plant and equipment, net	18,797,925	18,664,448
Intangible assets, net	292,836	285,290
Operating lease right-of-use assets, net	2,079,937	1,923,121
Receivable for bitcoin collateral – non-current – related party	662,968,814	68,181,445
Other non-current assets, net	68,025,983	16,948,984
Other non-current assets, net – related party	6,955,650	6,955,650
Total non-current assets	1,007,866,650	243,761,206
TOTAL ASSETS	1,132,985,333	380,698,602

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accrued expenses and other current liabilities	82,329,075	46,712,830
Accrued expenses and other current liabilities – related parties	5,025,566	2,103,992
Income tax payable	88,792,503	88,362,240
Short-term lease liabilities	573,959	412,944
Total current liabilities	176,721,103	137,592,006

Non-current liabilities:
Long-term debts – related party	557,567,671	30,611,355
Deferred tax liability	1	1
Long-term operating lease liabilities	1,655,272	1,687,682
Total non-current liabilities	559,222,944	32,299,038
Total liabilities	735,944,047	169,891,044

Shareholders’ equity
Ordinary shares	44,171	49,796
Treasury shares	(103,424,568)	(104,429,322)
Additional paid-in capital	1,135,958,943	1,211,777,145
Accumulated deficit	(635,537,260)	(896,590,061)
Total Cango Inc.’s equity	397,041,286	210,807,558
Total shareholders’ equity	397,041,286	210,807,558
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,132,985,333	380,698,602

CANGO INC. UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Amounts in US dollar (“US$”), except for number of shares)

	For three months ended March 31
	2025	2026
	US$	US$

Revenues	144,154,046	102,000,984
Bitcoin mining income	144,144,312	98,443,880
Other revenues	9,734	3,027,230
Other revenues from related parties	–	529,874
Operating cost and expenses:
Cost of revenue (exclusive of depreciation shown below)	112,661,702	99,578,785
Cost of revenue (depreciation)	21,344,844	29,372,199
General and administrative	10,028,269	6,549,346
General and administrative – related parties	–	647,653
Provision (Net recovery) for credit losses	289,231	(979,753)
Impairment loss from mining machines	–	49,038,548
Loss from changes in fair value of receivable for bitcoin collateral	26,735,505	151,838,430
Loss on disposal of mining machines	–	20,307,212
Total operation cost and expense	171,059,551	356,352,420

Loss from operations	(26,905,505)	(254,351,436)
Interest income	294,192	2,134
Interest expense	(1,310,597)	–
Interest expense – related party	–	(6,702,867)
Foreign exchange loss, net	(27,690)	(632)
Other income	112,870	–
Net loss before income taxes	(27,836,730)	(261,052,801)
Income tax expenses	(431,183)	–
Net loss from continuing operations	(28,267,913)	(261,052,801)

Discontinued operations:
Loss from discontinued operations	(3,907,013)	–
Net loss from discontinued operations	(3,907,013)	–

Net loss attributable to Cango Inc.’s shareholders	(32,174,926)	(261,052,801)
Losses per ordinary share:
Basic	–	–
Discontinued operations	(0.02)	–
Continuing operations	(0.14)	(0.73)
Basic	(0.16)	(0.73)
Diluted	–	–
Discontinued operations	(0.02)	–
Continuing operations	(0.14)	(0.73)
Diluted	(0.16)	(0.73)
Weighted average shares used to compute losses per ordinary share:
Basic	207,566,173	358,611,981
Diluted	207,566,173	358,611,981

Other comprehensive income, net of tax
Foreign currency translation adjustment	(5,279,250)	–

Total comprehensive loss	(37,454,176)	(261,052,801)
Total comprehensive loss attributable to Cango Inc.’s shareholders	(37,454,176)	(261,052,801)

CANGO INC. RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS (Amounts in US dollar (“US$”), except for number of shares

	For three months ended March 31
	2025	2026
	(Unaudited)	(Unaudited)
	US$	US$

Net loss	(32,174,926)	(261,052,801)
Less: Discontinued operations:
Loss from discontinued operations	(3,907,013)	–
Loss on discontinued operations	(3,907,013)	–
Net loss from continuing operations	(28,267,913)	(261,052,801)

Add: Interest expense	1,310,597	6,702,867
Add: Income tax expenses	431,183	–
Add: Depreciation and amortization	21,349,999	29,389,003
Cost of revenue	21,344,844	29,372,199
General and administrative	5,155	16,804

Add: Impairment loss from mining machines	–	49,038,548
Add: Loss on disposal of mining machines	–	20,307,212
Less: Other income	112,870	–

Add: Share-based compensation expenses	3,545,188	1,536,295
General and administrative	3,545,188	1,536,295

Non-GAAP adjusted EBITDA	(1,743,816)	(154,078,876)
Non-GAAP adjusted EBITDA attributable to Cango Inc.’s shareholders	(1,743,816)	(154,078,876)

View original content to download multimedia:https://www.prnewswire.com/news-releases/cango-inc-reports-first-quarter-2026-unaudited-financial-results-302786436.html

SOURCE Cango Inc.

May 31, 2026 5:46 pm

GOSS FINAL DEADLINE ALERT: Gossamer Bio Investors With Losses May Seek to Lead the Class Action After Executives Allegedly Concealed Placebo Risk: HBSS

SAN FRANCISCO, May 31, 2026 (GLOBE NEWSWIRE) — A securities class action lawsuit has been filed against Gossamer Bio, Inc. (NASDAQ: GOSS) and an executive, seeking to represent investors who purchased or otherwise acquired Gossamer securities between June 16, 2025 and February 20, 2026.

The lawsuit follows Gossamer’s bombshell announcement on February 23, 2026 that top-line results for its Phase 3 PROSERA study did not meet the primary endpoint (the change from baseline in six-minute-walk distance at week 24). The study evaluated seralutinib for the treatment of pulmonary arterial hypertension (“PAH”).

The developments, including the trial failure and 80% stock drop, prompted national shareholder rights firm Hagens Berman to commence an investigation into the alleged pending claims that Gossamer violated federal securities laws. The firm encourages Gossamer investors who suffered substantial losses on Class Period GOSS investments to submit your losses now.

The firm also encourages persons with knowledge who may be able to assist the investigation to contact its attorneys.

View our latest video summary of the allegations: youtu.be/TOr_OsDdBXY

Class Period: June 16, 2025 – Feb. 20, 2026
Lead Plaintiff Deadline: June 1, 2026
Visit:www.hbsslaw.com/investor-fraud/goss
Contact the Firm Now: [email protected]
844-916-0895

Gossamer Bio, Inc. (GOSS) Securities Class Action:

The litigation is focused on the propriety of Gossamer’s disclosures about the Phase 3 PROSERA trial design, including its patient recruitment protocol and site-level monitoring.

In the past, Gossamer has emphasized that seralutinib is a “potential first-in-class therapeutic[,]” which “represents the possibility of a multi-billion-dollar opportunity across multiple indications[.]”

As recently as mid-November 2025, the company’s management cited the highly successful Merck Phase 3 STELLAR study of sotatercept for treating PAH. Gossamer’s management said, “if you look at their data, the best performing region was Latin America, and we have actually more patients coming from those same geographies and same sites.” Management also assured investors that “we have gone to the places where precedent studies have shown the greatest amount of efficacy, as well as having an entry criteria that is ensuring that we have patients who, we believe, will really show an improvement based upon, again background disease at week 24.”

The complaint alleges that, unknown to investors, Gossamer knew of or recklessly disregarded the trial design issues with the Phase 3 PROSERA study and, instead, crafted a narrative assuring investors that it would meet its primary endpoint. Also unknown to investors, patients at the study’s Latin America sites were largely heavily-treated and performing particularly well on placebo.

Investors’ expectations were dashed on February 23, 2026. That day, Gossamer announced that PROSERA did not meet its primary endpoint and therefore efficacy was not statistically significant.

Management said during the conference call that day, “[t]he overall treatment effect and statistical parameters were materially diluted by an outsize placebo response and meaningful regional heterogeneity, which compressed the pool placebo-adjusted difference.” More specifically, management revealed that in “Latin America, outsized placebo improvements materially compressed the pool treatment difference.”

The market swiftly reacted, sending the price of Gossamer shares down by 80%.

After the Class Period, on April 9, 2026, the company revealed that since February 24, 2026 it has not met the minimum share bid price ($1) required for continued listing on the Nasdaq Global Select Market.

“We’re focused on whether Gossamer may have misled investors about the PROSERA trial design, including patient entry criteria, as alleged in the pending lawsuit,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.

If you invested in Gossamer Bio and have substantial losses, or have knowledge that will assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to additional frequently asked questions about the Gossamer case and the firm’s investigation, read more »

Whistleblowers: Persons with non-public information regarding Gossamer Bio should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman

Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Contact:

Reed Kathrein, 844-916-0895

May 31, 2026 4:35 pm

Berkshire Hathaway to Acquire Taylor Morrison Home Corporation for $8.5 Billion

PR Newswire

All-cash transaction delivers significant and certain value for Taylor Morrison shareholders; purchase price represents approximately 24% premium to latest closing stock price
Transaction provides attractive opportunity for Taylor Morrison team members and partners to execute continued growth trajectory with the strength of Berkshire Hathaway

SCOTTSDALE, Ariz. and OMAHA, Neb., May 31, 2026 /PRNewswire/ — Taylor Morrison Home Corporation (NYSE: TMHC) and Berkshire Hathaway Inc. (NYSE: BRK.A) (NYSE: BRK.B) jointly announced today that they have reached a definitive agreement for Berkshire Hathaway to acquire Taylor Morrison for $72.50 per common share in cash, representing a total equity value for Taylor Morrison of approximately $6.8 billion and total enterprise value of approximately $8.5 billion. The acquisition price represents a 24% premium to Taylor Morrison’s latest closing price of $58.50 on May 29, 2026.

Sheryl Palmer, Taylor Morrison’s Chairman and Chief Executive Officer, said, “Joining Berkshire Hathaway is a once-in-a-lifetime opportunity to propel Taylor Morrison into its next, and most exciting, chapter, supported by Berkshire’s unmatched capital strength and long-term investment philosophy. This transaction is a testament to the value of Taylor Morrison’s talented team members, trusted brand, community-minded development approach, and diversified portfolio. Over the last 13 years as a public company, we built a track record of strategic growth—expanding our geographic footprint, integrating acquisitions with discipline, and deepening our competitive strengths across procurement, brand, and customer experience. Berkshire Hathaway’s long-term orientation is uniquely well-suited to the multi-year investment cycle of homebuilding, and this combination will allow us to scale the Taylor Morrison platform in ways that would not be possible as a standalone company. I am deeply grateful to our stockholders for the confidence they have placed in Taylor Morrison over the past 13 years, and I could not be more excited about what this next chapter holds for our dedicated team members and partners who make this company extraordinary every day.”

“Berkshire is acquiring a best-in-class national homebuilder, led by an exceptional team and backed by a trusted reputation for customer experience,” said Greg Abel, Berkshire Hathaway’s Chief Executive Officer. “We are excited to welcome Taylor Morrison into Berkshire’s portfolio, reflecting our long-standing commitment to housing, exemplified by Clayton Homes and our other building products businesses. Over time, we expect to unify our site-built homebuilding operations into a combined platform enabling us to deliver the dream of homeownership to more Americans.”

Taylor Morrison is a leading national community developer and homebuilder with over 350 communities concentrated in prime locations across 21 markets in 12 states. The company serves a diverse range of homebuyers in the entry-level, move-up, and resort lifestyle segments under its Taylor Morrison and Esplanade brands and develops rental communities under its Yardly brand. It also provides financial services to its customers, including mortgage, title and escrow, and homeowners’ insurance.

Upon completion of the acquisition, Taylor Morrison will continue to be led by Taylor Morrison’s existing management team, including Chief Executive Officer Sheryl Palmer.

Transaction Details

The transaction is expected to close in the second half of 2026, subject to customary closing conditions, including approval by Taylor Morrison stockholders and receipt of required regulatory approvals. Upon completion of the transaction, Taylor Morrison Home Corporation will become a private company and its common stock will no longer be listed and traded on the NYSE.

Goldman Sachs & Co. LLC and Moelis & Company LLC are serving as financial advisors, Simpson Thacher & Bartlett LLP is serving as legal advisor, and Mayer Brown LLP is serving as financial services regulatory counsel to Taylor Morrison.

About Berkshire Hathaway

Berkshire Hathaway and its subsidiaries engage in diverse business activities including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing, services and retailing. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.

About Taylor Morrison

Headquartered in Scottsdale, Arizona, Taylor Morrison (NYSE: TMHC) is one of the nation’s leading community developers and homebuilders. It serves entry-level, move-up, and resort lifestyle homebuyers and renters under its family of brands—including Taylor Morrison, Esplanade, and Yardly. Taylor Morrison has been recognized as America’s Most Trusted® Builder by Lifestory Research since 2016, was honored as one of Fortune’s World’s Most Admired Companies in 2026, and on Forbes’ Most Trusted and Best Companies in America lists in 2025.

Cautionary Statement Regarding Forward Looking Statements

This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include, but are not limited to, statements concerning Taylor Morrison’s expectations, plans, intentions, strategies or prospects with respect to the proposed Merger. These statements are often identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “hope,” “hopeful,” “likely,” “may,” “optimistic,” “possible,” “potential,” “preliminary,” “project,” “should,” “will,” “would” or the negative or plural of these words or similar expressions or variations. Forward-looking statements are made based upon management’s current expectations and beliefs and are not guarantees of future performance. Such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by the forward-looking statements. These factors include, among others: (i) the ability of the parties to complete the proposed transaction on the anticipated terms and timing, or at all, (ii) the satisfaction or waiver of other conditions to the completion of the proposed transaction, including obtaining required shareholder and regulatory approvals; (iii) the risk that Taylor Morrison’s stock price may fluctuate during the pendency of the proposed transaction and may decline if the proposed transaction is not completed; (iv) potential litigation relating to the proposed transaction that could be instituted against the Company or its directors or officers, including the delay, expense or other effects of any outcomes related thereto; (v) the risk that disruptions from the proposed transaction will harm Taylor Morrison’s business, including current plans and operations, including during the pendency of the proposed transaction; (vi) the ability of Taylor Morrison to retain, motivate, and hire key personnel; (vii) the diversion of management’s time and attention from ordinary course business operations to completion of the proposed transaction and integration matters; (viii) potential adverse reactions or changes to business relationships resulting from the announcement, pendency or completion of the proposed transaction; (ix) legislative, regulatory and economic developments; (x) potential business uncertainty, including changes to existing business relationships, during the pendency of the proposed transaction that could affect Taylor Morrison’s financial performance; (xi) certain restrictions during the pendency of the proposed transaction that may impact Taylor Morrison’s ability to pursue certain business opportunities or strategic transactions; (xii) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, outbreaks of war or hostilities or global pandemics, as well as management’s response to any of the aforementioned factors; (xiii) the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xiv) unexpected costs, liabilities or delays associated with the transaction; (xv) the response of competitors to the transaction; (xvi) the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed transaction, including in circumstances requiring Taylor Morrison to pay a termination fee; and (xvii) other risks set forth under the heading “Risk Factors,” of Taylor Morrison’s Annual Report on Form 10-K for the year ended December 31, 2025 and in Taylor Morrison’s subsequent filings with the Securities and Exchange Commission (“SEC”). You should not rely upon forward-looking statements as predictions of future events. Actual results and outcomes could differ materially from the results described in or implied by such forward-looking statements. Forward-looking statements speak only as of the date hereof, and, except as required by law, Taylor Morrison undertakes no obligation to update or revise these forward-looking statements.

Additional Information and Where to Find It

This communication does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities or a solicitation of any vote or approval. This communication relates to a proposed acquisition of Taylor Morrison by Berkshire Hathaway. In connection with this proposed acquisition, Taylor Morrison plans to file one or more proxy statements or other documents with the SEC. This communication is not a substitute for any proxy statement or other document that Taylor Morrison may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF TAYLOR MORRISON ARE URGED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Any definitive proxy statement(s) (if and when available) will be mailed to stockholders of Taylor Morrison. Investors and security holders will be able to obtain free copies of these documents (if and when available) and other documents filed with the SEC by Taylor Morrison through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Taylor Morrison will be available free of charge on the Investor Relations portion of Taylor Morrison’s internet website at www.taylormorrison.com or upon written request to: Investor Relations, Taylor Morrison Home Corporation, 4900 N. Scottsdale Road, Suite 2000, Scottsdale, Arizona 85251, or by email at [email protected].

Participants in the Solicitation

Taylor Morrison, its directors and certain of its executive officers may be considered participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of Taylor Morrison is set forth in its Proxy Statement on Schedule 14A for its 2026 annual meeting of stockholders (the “2026 Proxy”), which was filed with the SEC on April 10, 2026. To the extent that holdings of Taylor Morrison’s securities by its directors or executive officers have changed since the amounts set forth in the 2026 Proxy for its 2026 annual meeting of stockholders, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement relating to the proposed transaction and other relevant materials to be filed with the SEC when they become available. These documents can be obtained free of charge from the sources indicated above.

Contacts:

Berkshire Hathaway

Marc D. Hamburg
Charles C. Chang
(402) 346-1400

Taylor Morrison

Investors:
Mackenzie Aron
(407) 906-6262
[email protected]

Media:
Jaclyn Rygg
(480) 376-0641
[email protected]

View original content:https://www.prnewswire.com/news-releases/berkshire-hathaway-to-acquire-taylor-morrison-home-corporation-for-8-5-billion-302786507.html

SOURCE Taylor Morrison Home Corporation

May 31, 2026 4:33 pm

Berkshire Hathaway to Acquire Taylor Morrison Home Corporation for $8.5 Billion

Berkshire Hathaway to Acquire Taylor Morrison Home Corporation for $8.5 Billion

All-cash transaction delivers significant and certain value for Taylor Morrison shareholders; purchase price represents approximately 24% premium to latest closing stock price
Transaction provides attractive opportunity for Taylor Morrison team members and partners to execute continued growth trajectory with the strength of Berkshire Hathaway

SCOTTSDALE, Ariz. & OMAHA, Neb.–(BUSINESS WIRE)–
Taylor Morrison Home Corporation (NYSE: TMHC) and Berkshire Hathaway Inc. (NYSE: BRK.A; BRK.B) jointly announced today that they have reached a definitive agreement for Berkshire Hathaway to acquire Taylor Morrison for $72.50 per common share in cash, representing a total equity value for Taylor Morrison of approximately $6.8 billion and total enterprise value of approximately $8.5 billion. The acquisition price represents a 24% premium to Taylor Morrison’s latest closing price of $58.50 on May 29, 2026.

Upon completion of the acquisition, Taylor Morrison will continue to be led by Taylor Morrison’s existing management team, including Chief Executive Officer Sheryl Palmer.

Transaction Details

About Berkshire Hathaway

About Taylor Morrison

Headquartered in Scottsdale, Arizona, Taylor Morrison (NYSE: TMHC) is one of the nation’s leading community developers and homebuilders. It serves entry-level, move-up, and resort lifestyle homebuyers and renters under its family of brands—including Taylor Morrison, Esplanade, and Yardly. Taylor Morrison has been recognized as America’s Most Trusted^® Builder by Lifestory Research since 2016, was honored as one of Fortune’s World’s Most Admired Companies in 2026, and on Forbes’ Most Trusted and Best Companies in America lists in 2025.

Cautionary Statement Regarding Forward Looking Statements

Additional Information and Where to Find It

Participants in the Solicitation

View source version on businesswire.com: https://www.businesswire.com/news/home/20260531630893/en/

Berkshire Hathaway

Marc D. Hamburg

Charles C. Chang

(402) 346-1400

Taylor Morrison

Investors:

Mackenzie Aron

(407) 906-6262

[email protected]

Media:

Jaclyn Rygg

(480) 376-0641

[email protected]

KEYWORDS: Arizona Nebraska United States North America

INDUSTRY KEYWORDS: Finance Professional Services Residential Building & Real Estate Construction & Property Insurance

MEDIA:

May 31, 2026 2:55 pm

Diana Shipping Inc. Sends Letter to Genco Shipping & Trading Shareholders Making the Case for Electing Six Independent Nominees With Proven Track Records of Creating Shareholder Value

Details Why the Entrenched Genco Board Should Not Be Trusted to Act in Shareholders’ Best Interests

Contrasts Diana’s Six Accomplished, Independent Nominees Against a Board That Has Spent Six Months and Over $13 Million Protecting Itself and Management

Releases Video Message to Genco Shareholders from CEO Semiramis Paliou Outlining the Compelling Value of Diana’s Offer and the Urgent Need for Board Change

Calls on Genco Shareholders to Elect a Board That Will Finally Put Shareholders First by Voting the

GOLD

Universal Proxy Card

“FOR”

Diana’s Six Independent Director Nominees

ATHENS, Greece, May 31, 2026 (GLOBE NEWSWIRE) — Diana Shipping Inc. (NYSE: DSX) (“Diana” or “the Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels that is the largest shareholder of Genco Shipping & Trading Limited (NYSE: GNK) (“Genco”), today sent an open letter to Genco shareholders making the definitive case for electing Diana’s six independent director nominees to the Genco Board of Directors (the “Genco Board”) — Gustave Brun-Lie, Paul Cornell, Chao Sih Hing Francois, Jens Ismar, Viktoria Poziopoulou and Quentin Soanes — at Genco’s 2026 Annual Meeting of Shareholders to be held on June 18, 2026.

In today’s letter, Diana draws a sharp contrast between its six independent nominees — accomplished shipping, finance, M&A and legal executives with proven track records of creating and maximizing shareholder value — and the entrenched Genco Board, which has consistently prioritized management’s compensation and control over the interests of the shareholders it is supposed to represent.

Semiramis Paliou, Diana’s Chief Executive Officer, commented:

“The Genco Board has spent more than $13 million of shareholder money trying to convince shareholders that the directors currently governing Genco are responsible stewards. They are not. This is a board led by a CEO/Chairman who combined the roles to consolidate his power and avoid independent oversight, where the compensation committee chair has spent 20 years approving outsized pay packages for an executive with whom he has personal and financial ties, and where three of six directors own zero shares. We have now increased our offer to $24.80 per share — our third proposal — and still the Board has not engaged to date. Our six nominees are different in every respect that matters — they are genuinely independent, deeply experienced, and committed to one thing: finally ensuring this board acts in the interests of Genco’s real owners.”

In connection with today’s letter, Diana also released a video message from Chief Executive Officer Semiramis Paliou in which she speaks directly to Genco shareholders about the value of Diana’s offer, the case for board change, and the importance of acting immediately. The video is available at www.CashforGenco.com and is embedded below.

Diana urges all Genco shareholders to vote the GOLD universal proxy card “FOR” each of its six independent nominees and WITHHOLD on Genco’s nominees. Diana also urges shareholders to tender their shares pursuant to Diana’s tender offer at $24.80 per share in cash. The proxy vote and the tender offer are independent of each other — shareholders can and should act on both opportunities.

Shareholders who have already voted the WHITE card can change their vote by signing, dating and returning the enclosed GOLD universal proxy card. Only the latest-dated proxy will count. Please act as soon as possible — the tender offer expires at 5:00 p.m., New York City time, on June 26, 2026, unless further extended, and the Annual Meeting is on June 18, 2026.

For additional information about Diana’s six independent nominees, its case for change, and other materials related to its proxy campaign, please visit www.CashforGenco.com.

For assistance voting or tendering shares, contact Diana’s proxy solicitor and information agent, Okapi Partners LLC, toll-free at (855) 305-0857 or by email at [email protected].

The full text of Diana’s letter to shareholders is below.

May 31, 2026

Dear Fellow Genco Shareholder:

We have written to you several times about the compelling value of our fully financed, all-cash offer, which had now been increased to $24.80 per share, to acquire Genco Shipping & Trading Limited (“Genco”), and the refusal to date of the Genco Board of Directors (the “Genco Board”) led by Chairman and CEO John Wobensmith to engage with us. The Genco Board and management team have instead spent more than $13 million of shareholder money — and counting — by hiring at least seven advisors (including two law firms, two investment banks and two public relations firms) to mislead you into believing that Genco’s current stock price reflects their performance and suggest that our offer is insufficient, and to support their refusal to even engage with Diana as it pursues a value-enhancing transaction benefitting shareholders.

The facts are as follows: (1) Diana’s purchases of Genco shares and all-cash offer have artificially inflated Genco’s share price to a level it could not sustain on its own, (2) Diana’s all-cash offer of $24.80 per share represents premium value compared to Genco’s undisturbed trading price preceding our initial offer, and is priced at approximately 1.0x Genco’s net asset value (“NAV”) at cyclically high asset values, when comparable industry buyouts trade at an average of around 0.80x NAV. In the absence of our offer, the value of your investment is at risk — the share price could revert to the approximately 30% discount to NAV at which Genco and industry peers have traded since 2020. That would put the stock price in the area of $18.00 per share — a level none of us want.

We believe that only meaningful board refreshment will ensure Genco explores all opportunities to maximize value on your behalf and have nominated six outstanding business leaders for election to the Genco Board at Genco’s Annual Meeting to be held on June 18. As this date approaches, we urge you to focus on the most fundamental question facing you as a shareholder: Who do you want to be responsible for the value of your investment?

You can elect Diana’s nominees — who are independent of Diana and committed to acting in the best interests of ALL Genco shareholders — or you can reelect Genco’s existing directors who have demonstrated a self-serving pattern of entrenchment, favoring their and management’s interests over value creation for shareholders.

A Genco Board That Works for Management — Not Shareholders

We believe the time has come to replace the Genco Board, which, as part of their misinformation campaign to divert your attention from our attractive offer, desperately wants you to believe they are a model of good governance. Do not be deceived. They are not what they claim to be. Consider the facts:

John Wobensmith currently serves as both Chairman and CEO of Genco, having served as the CEO of Genco since 2017 and as an executive officer of Genco since 2005. It is highly concerning that Wobensmith added the Chairman role in August 2025 – as Diana was in the process of acquiring Genco shares – to consolidate his power and further entrench himself atop Genco. He has limited independent oversight and, therefore, is able to run the Genco Board and Genco in a manner that preserves his role as Genco’s sole leader and serves his own financial interests. The facts bear this out. He has averaged $4.5 million annually since becoming CEO – significantly above the industry median at comparable companies. A majority of his Genco stock was pledged as collateral for personal loans — a fact buried in a footnote in Genco’s proxy. Wobensmith has now supposedly repaid these loans, but only after we highlighted the existence of these pledges for investors. In his previous role as Genco’s CFO, he received $17.5 million in compensation in 2014, the year Genco filed for bankruptcy. Notably, he is a two-time bankruptcy filer, as he was also a director of Ultrapetrol (Bahamas) when it filed in 2017.
Kathleen Haines has been a Genco director since 2017. Haines was handpicked by Wobensmith to serve as “Lead Independent Director” but has neither the independence nor the leadership experience to act as an effective counterbalance to Wobensmith. Haines was introduced to Genco by former Chairman James Dolphin, with whom she served on the OSG America board. In that role, they were named co-defendants in three shareholder class action lawsuits alleging they were not truly independent. Aside from OSG America (an MLP) and Genco, Haines has not served on any other public company boards – a curious lack of boardroom experience for a lead independent director. On her Genco biography, her employer is listed as Holbridge Capital Advisors, which has no corporate registration on file anywhere in the United States. According to Genco’s own proxy statement, Ms. Haines beneficially owns zero shares of Genco common stock.
Basil Mavroleon has served on the Genco Board since 2005 (with the exception of a one-year period following Genco’s 2014 bankruptcy overseen by Wobensmith and Mavroleon) and chairs the Compensation Committee as a supposedly “independent director” — a characterization that cannot be sustained upon any degree of scrutiny. A shipbroker by trade, Mavroleon has longstanding financial and personal ties to Wobensmith through AMA Capital Partners, the merchant bank where Wobensmith worked before joining Genco. Under Mavroleon’s leadership, the Compensation Committee has lavished extraordinary compensation on Wobensmith dating back to Genco’s 2014 bankruptcy and before. In fact, Wobensmith’s compensation increased in 2025 even though Genco turned $76 million of 2024 net income into a net loss of $4.4 million in 2025. When management missed its own performance targets, Mavroleon’s committee moved the goalposts closer rather than hold Wobensmith and other executives accountable. Tellingly, after Diana announced its cash offer, Genco’s “independent” compensation committee, led by Mavroleon, determined it was an appropriate time to adopt a new enhanced severance plan covering Wobensmith, other members of Genco management and unnamed additional Genco employees that would result in significant costs to the Company (the full amount of which Genco refuses to disclose). After more than two decades on the Genco Board, according to Genco’s own proxy statement, Mavroleon beneficially owns just 739 shares of Genco stock.
Arthur Regan joined the Genco Board in 2016 at Apollo Global’s explicit request. Genco itself acknowledged at the time — in its own proxy materials — that his appointment would give Apollo Global “the perspective of a significant stockholder,” meaning he was appointed not as an independent director but as a stakeholder representative. When Apollo Global sold its entire stake, Regan remained on the board without any public reassessment of his independence. In fact, Regan served as a Genco executive (Executive Chairman) from November 2016 until May 2021, a four-and-a-half-year period during which Wobensmith served under him as an executive officer. Regan now chairs the Nominating and Corporate Governance Committee, the body responsible for evaluating the independence of others.
Karin Orsel and Paramita Das round out a Genco Board that has collectively failed to provide meaningful independent oversight. Ms. Orsel has served on the Genco Board since 2021, a period during which the Genco Board lumped excessive compensation on Wobensmith and others while performance declined — and she has a duty to shareholders that she has not fulfilled. Ms. Das, the only new director in the last five years, brings no shipping industry operating experience to a company whose future depends on exactly that. Neither has taken any visible action to hold management accountable or advocate for the interests of the shareholders they have a duty to represent. Moreover, according to Genco’s own proxy statement, neither beneficially own any Genco shares.

On May 27, 2026, Diana increased its all-cash offer to $24.80 per share — a 39% premium to Genco’s undisturbed share price — our latest attempt to enter into good faith negotiations with Genco regarding a transaction. This offer price is supported by Diana’s all-cash tender offer, which we have extended to June 26, 2026.

To date, this Genco Board has rejected our all-cash, fully financed premium offers without a single meeting, phone call, or request for clarification. Not once in six months has Genco offered to make diligence materials confidentially available to Diana in order to demonstrate the value that Genco claims to exist above our offer price. Why would you want directors who are so desperate to retain control and protect the management team that they will not even explore what Genco might be able to get in a good faith negotiation with a motivated buyer?

Diana’s Nominees: Six Independent Directors with Proven Track Records of Creating Value

As Genco’s largest shareholder, our interests are aligned with yours and we have delivered the rare opportunity to replace the recalcitrant Genco Board. Our six nominees are accomplished, fully independent shipping and finance executives with no ties to Diana and no agenda other than ensuring the Genco Board finally acts in your interests. Their records speak for themselves:

Jens Ismar served as CEO of Western Bulk for 11 years, growing the operated fleet from 60 to 150 vessels and leading the company’s listing on the Oslo Stock Exchange. At Bergesen, he organized the VLGC and gas markets into pools, improving revenues and service levels while overseeing fleet renewal. He has served on the boards of multiple public companies and has been directly involved in driving shareholder value through active board engagement, including the sale of Ocean Yield at a 26% premium.
Paul Cornell co-founded Quintana Maritime in 2005, grew it into one of the world’s largest drybulk carriers, and sold it in 2008 for a significant return to investors. He subsequently co-founded a second Quintana entity, grew it to approximately 14 drybulk carriers and sold it for an attractive return to Golden Ocean. He has managed over the course of his career the successful negotiation and exit of approximately $1.2 billion in portfolio company investments through Quintana Capital.
Chao Sih Hing Francois transformed Wah Kwong Marine Transport from a traditional shipowner into a diversified maritime services group over seven years, growing its ship management business from 30 to approximately 100 vessels under technical management and completing 80 newbuilding supervision projects. He is Co-founder and Chairman of the Hong Kong Chamber of Shipping and Chairman of the Bureau Veritas Global Marine and Offshore Advisory Council.
Gustave Brun-Lie has nearly 40 years of shipping experience and helped build RS Platou into one of Norway’s leading shipbroking houses, developing its newbuilding desk into a top-tier broker across vessel types and expanding into LNG carriers and cruise vessels. He has also served in board roles at a number of leading shipping industry companies including Wilhelmsen Ship Management and Torvik’s Rederi.
Viktoria Poziopoulou has approximately 35 years of shipping legal experience, including advising on the sale of an entire privately held drybulk fleet to a public company. She has been involved in structuring financings, refinancings and restructurings with cumulative value exceeding $2 billion, and overseeing sale, purchase and newbuilding contracts for more than 200 vessels. She served as General Counsel of Pavimar S.A., Quintana Shipping Ltd. and NYSE-listed Excel Maritime Carriers.
Quentin Soanes took Braemar from a privately held firm to a publicly listed company on the London Stock Exchange, led an acquisition strategy that delivered double and triple-digit IRRs, and served as Chairman of the Baltic Exchange from 2012 to 2014. He has served as Executive Chairman of Sterling Shipping Services Ltd.

The Contrast Could Not Be Clearer — Consider It Carefully Before You Vote

	Diana’s nominees	Genco Board
Independence	✓ Fully independent — no business ties to Diana, each other, or Genco management	✗ Long-standing ties to Genco and Wobensmith that make directors non-independent
Track record	✓ A slate of executives with experience in operations, M&A, capital allocation, legal and other critical areas who have built companies, taken them public, and delivered measurable returns across drybulk, LNG and broader shipping markets	✗ Have presided over declining performance at Genco; Wobensmith was CFO during Genco’s 2014 bankruptcy and on the board of Ultrapetrol when it filed in 2017
Compensation	✓ Will set pay based on actual performance and shareholder returns	✗ CEO pay is the industry’s highest in the last five years despite a 2025 net loss; management comp up 77% as net income fell from $182M to -$4M; bonus metric quietly changed to enable a 100% payout when targets were missed
Board refreshment	✓ Six new, independent voices with 200+ combined years of shipping, finance and governance experience	✗ Mavroleon has served 20 years; Haines 9 years; only one director has served less than five years
Governance	✓ Committed to dismantling entrenchment measures adopted without shareholder approval	✗ Adopted a poison pill without shareholder approval; approved a new, costly, management-favorable, enhanced severance plan after Diana made its offer and began its proxy contest; continues to maintain a proxy put that could trigger a debt default if directors are replaced
Perspective on Diana’s offer	✓ Will explore all opportunities to maximize value for all shareholders	✗ Rejected all-cash, fully financed offer without a single meeting, phone call, or request for clarification; to date has spent over $13M of shareholder money doing so

Each of Diana’s nominees brings something the Genco Board cannot offer shareholders: genuine independence, a proven record of value creation, and a commitment to exploring all opportunities to maximize value for all shareholders. The Genco Board has had a golden opportunity to do exactly that — and for six months it has refused.

Do Not Wait Until June 18 to Make Your Voice Heard — Vote the GOLD Card Today

We urge you to vote the GOLD universal proxy card “FOR” each of our six independent nominees and WITHHOLD on Genco’s nominees. We also urge you to tender your shares pursuant to Diana’s tender offer at $24.80 per share in cash. The proxy vote and the tender offer are independent of each other — you can and should do both.

If you have already voted the WHITE card, you can change your vote by signing, dating and returning the enclosed GOLD universal proxy card. Only your latest-dated proxy will count. Please act as soon as possible — the tender offer expires at 5:00 p.m., New York City time, on June 26, 2026, unless further extended, and the Annual Meeting is on June 18, 2026.

For assistance voting or tendering your shares, contact our proxy solicitor and information agent, Okapi Partners LLC, toll-free at (855) 305-0857 or by email at [email protected].

Sincerely,

Semiramis Paliou
Chief Executive Officer and Director
Diana Shipping Inc. (NYSE: DSX)

About Diana Shipping Inc.

Diana Shipping Inc. (“Diana”) (NYSE: DSX) is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels. Diana’s vessels are employed primarily on short to medium-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

About Star Bulk Carriers Corp.

Star Bulk Carriers Corp. (“Star Bulk”) is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk’s vessels transport major bulks, which include iron ore, minerals and grain, and minor bulks, which include bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, New York, Stamford and Singapore.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this communication and other statements made by Diana or Star Bulk, as applicable, may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include, but are not limited to, statements regarding the intent, beliefs, expectations, objectives, goals, future events, performance or strategies and other statements of Diana, Star Bulk or their respective management teams, which are other than statements of historical facts.

Diana and Star Bulk desire to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. These forward-looking statements relate to, among other things, Diana’s proposal to acquire Genco and the anticipated benefits of such a transaction, and Diana’s ability to finance such transaction. Forward looking statements can be identified by words such as “believe,” “will,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.

The forward-looking statements in this press release and in other statements made by Diana or Star Bulk, as applicable, are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in Diana’s or Star Bulk’s records, Genco’s public filings and disclosures and data available from third parties. Although Diana or Star Bulk, as applicable, believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond their control, Diana or Star Bulk, as applicable, cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

The forward-looking statements in this communication are based on current expectations, assumptions, and estimates, and are subject to numerous risks and uncertainties. These include, without limitation, risks relating to: (i) the possibility that the proposed transaction may not proceed; (ii) the ability to obtain regulatory or shareholder approvals, if required; (iii) the risk that Genco’s Board of Directors or management may continue to oppose the proposal or not respond to further attempted engagement by Diana; (iv) failure to realize anticipated benefits of the transaction; (v) changes in the financial or operating performance of Diana, Star Bulk or Genco; (vi) the possibility that shareholders of Genco will not elect to tender their shares of common stock of Genco in connection with the Offer (as defined below) or that the conditions to consummation of the Offer are not satisfied; and (vii) general economic, market, and industry conditions. These and other risks are described in documents filed by Diana with, or furnished by Diana to, the U.S. Securities and Exchange Commission (“SEC”), including its Annual Report on Form 20-F for the fiscal year ended December 31, 2025, and its other subsequent documents filed with, or furnished to, the SEC, and are described in documents filed by Star Bulk with, or furnished by Star Bulk to, the SEC, including its Annual Report on Form 20-F for the fiscal year ended December 31, 2025, and its other subsequent documents filed with, or furnished to, the SEC. Neither Diana nor Star Bulk undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.

Important Additional Information and Where to Find It

Diana and certain other Participants (as defined below) have filed a definitive proxy statement and accompanying GOLD universal proxy card with the SEC to be used to solicit proxies for, among other matters, the election of Diana’s director nominees to the board of directors of Genco at Genco’s 2026 Annual Meeting, the passage of Diana’s proposal to repeal, at Genco’s 2026 Annual Meeting, by-laws of Genco not publicly disclosed by Genco on or prior to August 28, 2025 and a proposal that the board of directors of Genco conduct a process to explore strategic alternatives (such definitive proxy statement and the accompanying universal GOLD proxy card are available here).

Shareholders of Genco are strongly advised to read the Participants’ proxy statement and other proxy materials, including the accompanying GOLD proxy card, as they become available because they will contain important information. The Participants’ definitive proxy statement, and other proxy materials when filed, are available at no charge on the SEC’s website at www.sec.gov.

The definitive proxy statement and other relevant documents filed by Genco with the SEC are also available, without charge, by directing a request to Diana’s proxy solicitor, Okapi Partners LLC, at its toll-free number (855) 305-0857 or via email at [email protected].

Certain Information Regarding Participants in the Solicitation

The participants in the proxy solicitation (the “Participants”) are Diana; Semiramis Paliou, Director and Chief Executive Officer of Diana; Simeon Palios, Director and Chairman of Diana; Ioannis G. Zafirakis, Director and President of Diana; Maria Dede, co-Chief Financial Officer and Treasurer of Diana; Margarita Veniou, Chief Corporate Development, Governance & Communications Officer and Secretary of Diana; Evangelos Sfakiotakis, Chief Technical Investment Officer of Diana; Maria-Christina Tsemani, Chief People and Culture Officer of Diana; Anastasios Margaronis, Director of Diana; Kyriacos Riris, Director of Diana; Apostolos Kontoyannis, Director of Diana; Eleftherios Papatrifon, Director of Diana; Simon Frank Peter Morecroft, Director of Diana; and Jane Sih Ho Chao, Director of Diana; Diana’s nominees, Jens Ismar, Gustave Brun-Lie, Quentin Soanes, Paul Cornell, Chao Sih Hing Francois, and Vicky Poziopoulou; Star Bulk Carriers Corp. (“Star Bulk”); Petros Pappas, Director and Chief Executive Officer of Star Bulk; and Hamish Norton, President of Star Bulk.

As of the date hereof, Diana is the beneficial owner of 6,264,548 shares of Genco common stock, representing approximately 14.4% of the outstanding shares of common stock of Genco. As of the date hereof, none of Semiramis Paliou, Simeon Palios, Ioannis G. Zafirakis, Maria Dede, Margarita Veniou, Evangelos Sfakiotakis, Maria-Christina Tsemani, Anastasios Margaronis, Kyriacos Riris, Apostolos Kontoyannis, Eleftherios Papatrifon, Simon Frank Peter Morecroft, Jane Sih Ho Chao, Jens Ismar, Gustave Brun-Lie, Quentin Soanes, Paul Cornell, Chao Sih Hing Francois, Vicky Poziopoulou, Star Bulk, Petros Pappas, or Hamish Norton beneficially owns any Genco common stock.

Information Regarding the Offer

On May 4, 2026, Diana commenced a tender offer (the “Offer”), through its wholly owned subsidiary 4 Dragon Merger Sub Inc., to purchase all outstanding shares of Genco common stock at $23.50 per share in cash. On May 27, 2026, Diana (i) increased the offer price from $23.50 per share in cash to $24.80 per share in cash, and (ii) extended the expiration of the Offer to 5:00 p.m., New York City time, on June 26, 2026, unless further extended. To the extent that Genco declares a cash dividend or other distribution on the Genco shares, the offer price will be reduced by the amount payable per share.

The Offer is conditioned upon, among other things: (i) Genco entering into a definitive merger agreement with Diana substantially in the form of the merger agreement included with the Offer documents; (ii) Genco shareholders validly tendering a majority of Genco’s outstanding shares on a fully diluted basis; (iii) the termination or inapplicability of Genco’s shareholder rights plan; (iv) the Genco Board’s approval of the transaction under certain affiliate transaction provisions in Genco’s charter and (v) other customary conditions. Satisfaction of the merger agreement condition, the shareholder rights plan condition and the affiliate transaction condition is solely within the control of Genco and the members of the Genco Board.

If the Offer is successfully completed, Diana intends to consummate a second-step merger as promptly as practicable, in which any remaining Genco shareholders who did not tender their shares in the Offer would receive the same $24.80 per share in cash that was paid in the Offer. As a result, if the Offer is completed and the second-step merger is consummated, all Genco shareholders — whether or not they tender their shares — would receive $24.80 per share in cash. Importantly, shareholders who tender in the Offer may receive their cash sooner than those whose shares are acquired in the second-step merger.

The Offer to Purchase and related Letter of Transmittal are being mailed to Genco shareholders and will be filed with the U.S. Securities and Exchange Commission. Copies of these materials will be available at no charge on the SEC’s website at www.sec.gov.

Questions and requests for assistance regarding the Offer may be directed to Okapi Partners LLC, the information agent for the Offer, toll-free at (855) 305-0857 or by email at [email protected].

Corporate Contact:

Margarita Veniou
Chief Corporate Development, Governance &
Communications Officer and Board Secretary
Telephone: + 30-210-9470-100
Email: [email protected]
Website: www.dianashippinginc.com
X: @Dianaship

Investor Relations Contact:

Nicolas Bornozis / Daniela Guerrero
Capital Link, Inc.
230 Park Avenue, Suite 1540
New York, N.Y. 10169
Tel.: (212) 661-7566
Email: [email protected]

Bruce Goldfarb / Chuck Garske / Lisa Patel
Okapi Partners
(212) 297-0720
[email protected]

Media Contact:

Mark Semer / Grace Cartwright
Gasthalter & Co.
Tel: (212) 257-4170
[email protected]