Market Newsdesk

June 4, 2026 4:03 am

111, Inc. Announces First Quarter 2026 Unaudited Financial Results

PR Newswire

Continuing Transition toward a More Asset-Light and Operationally Efficient Business Model
Net Revenue of Promotional Products

⁽¹⁾

Increased by 70.2% and Gross Profit Rose by 75.0% Year-over-Year
Total Marketplace (MP) Service Revenue
Increased by 24.7%
Year-over-Year
Fulfillment Expenses as a Percentage of Revenue Improved by 10 Basis Points Year-over-Year

SHANGHAI, June 4, 2026 /PRNewswire/ — 111, Inc. (“111” or the “Company”) (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China, today announced its unaudited financial results for the first quarter ended March 31, 2026.

First Quarter 2026 Highlights

Net revenue amounted to RMB2.4 billion (US$342.4 million), representing a 33.1% decrease from RMB3.5 billion in the prior-year quarter. This decline was primarily attributable to the Company’s ongoing strategic transition toward a more asset-light and operationally efficient business model. As part of this initiative, the Company divested several underperforming subsidiaries last year and further optimized the fulfillment network through expanded warehouse partnership arrangements, enabling the transition to a warehouse partnership model—where recurring commission income will be generated rather than bearing operational and capital burdens. Meanwhile, total marketplace (MP) service revenue increased by 24.7% year-over-year, demonstrating growth of the Company’s marketplace service business and enhanced revenue quality.
Net revenue from promotional products amounted to RMB28.9 million, representing 70.2% year-over-year growth, accompanied by a 75.0% increase in gross profit. Furthermore, as of the current quarter, an increasing number of pharmaceutical companies have partnered with 111 to secure general distribution rights for products targeting small and medium-sized chain pharmacies, further strengthening the Company’s capabilities in brand building and market penetration. Among such products, “Cravit” has become the flagship offering, with sales growing from 84,000 boxes to 710,000 boxes year-over-year. This performance underscores the Company’s distinctive marketing expertise and has generated strong momentum for both upstream suppliers and downstream partners.
Fulfillment expenses were RMB61.2 million (US$8.9 million), representing a decrease of 34.6% from RMB93.6 million in the prior-year quarter. As a percentage of net revenue, fulfillment expenses improved to 2.6%, compared with 2.7% in the prior-year quarter, reflecting continued enhancement in operational efficiency and disciplined cost management.

(1) Promotional products are the Company’s core promoted pharmaceuticals featuring mainstream positioning and high gross margin.

Mr. Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111, commented, “During the first quarter of 2026, we continued to execute our strategic transition toward a more asset-light and platform-oriented operating model. The 24.7% year-over-year increase in total marketplace (MP) service revenue demonstrates steady progress of the strategic initiative and underscores our pursuit of high-quality, scalable and operationally efficient growth. Through ongoing SKU expansion, deeper collaboration with major third-party online platforms, and enhanced brand partnership strategies, our revenue of B2C business also achieved positive growth in this quarter.”

“Our promotional products have rapidly penetrated pharmacies nationwide via the 111 digital marketing platform, with the product lineup continuously expanding. Net revenue and gross profit from these products posted explosive year-over-year growth. Meanwhile, we are committed to securing general distribution rights for more pharmaceutical products like “Cravit” to consolidate market standing and maintain steady performance. This has proven to be a highly profitable and scalable business model, positioning us for sustained growth, and I look forward to sharing further progress and achievements in the coming quarters.”

“By optimizing our network and selectively exiting underperforming fulfillment centers, our fulfillment expenses declined by 34.6% year-over-year, outpacing the decrease in revenue. Meanwhile, fulfillment expenses as a percentage of net revenue improved by 10 basis points year-over-year, highlighting our capacity for sustained operational improvement and reflecting our commitment to prudent cost management.”

“Looking ahead, we believe these initiatives are gradually reshaping 111 from a transaction-driven pharmaceutical distributor into a more technology-enabled and intelligent healthcare platform business. We will continue to integrate AI-enabled capabilities across multiple operational scenarios, including intelligent demand forecasting, inventory optimization, fulfillment routing and merchant operation management. More importantly, we are deploying AI agent-based solutions in pharmacies and healthcare service scenarios to help customers better manage day-to-day operations. Leveraging a lean, intelligent operating model, we aim to expand margins, lift profitability and deliver long-term value to stakeholders.”

First Quarter 2026 Financial Results

Net revenue amounted to RMB2.4 billion (US$342.4 million), representing a decrease of 33.1% from RMB3.5 billion in the same quarter of last year, mainly attributable to the strategic optimization.

Gross segment profit

⁽²⁾
was RMB126.0 million (US$18.3 million), representing a year-over-year decrease of 35.4%.

(In thousands RMB)	For the three months ended March 31,
	2025	2026	YoY
B2B Net Revenue
Product	3,457,267	2,282,803	-34.0 %
Service	16,971	21,868	28.9 %

Sub-Total	3,474,238	2,304,671	-33.7 %

Cost of Products Sold ⁽³⁾	3,288,747	2,186,865	-33.5 %

Segment Profit	185,491	117,806	-36.5 %
Segment Profit %	5.3 %	5.1 %



(In thousands RMB)	For the three months ended March 31,
	2025	2026	YoY
B2C Net Revenue
Product	52,312	54,544	4.3 %
Service	2,729	2,369	-13.2 %

Sub-Total	55,041	56,913	3.4 %

Cost of Products Sold	45,437	48,761	7.3 %

Segment Profit	9,604	8,152	-15.1 %
Segment Profit %	17.4 %	14.3 %

(2) Gross segment profit represents net revenue less cost of goods sold.
(3) For segment reporting purposes, purchase rebates are allocated to the B2B segment and B2C segments primarily based on the amount of cost of products sold for each segment. Cost of products sold does not include other direct costs related to cost of product sales such as shipping and handling expense, payroll and benefits of logistic staff, logistic centers rental expenses and depreciation expenses, which are recorded in the fulfillment expenses. Cost of service revenue is recorded in the operating expense.

Operating costs and expenses were RMB2.4 billion (US$345.3 million), representing a decrease of 32.5% from RMB3.5 billion in the same quarter of last year.

Cost of products sold was RMB2.2 billion (US$324.1 million), representing a decrease of 32.9% from RMB3.3 billion in the same quarter of last year.
Fulfillment expenses were RMB61.2 million (US$8.9 million), representing a decrease of 34.6% from RMB93.6 million in the same quarter of last year. As a percentage of net revenue, fulfillment expenses accounted for 2.6% this quarter, down from 2.7% in the same quarter of last year.
Selling and marketing expenses were RMB58.0 million (US$8.4 million), representing a decrease of 14.6% from RMB67.9 million in the same quarter of last year. Excluding the share-based compensation expenses, selling and marketing expenses as a percentage of net revenue accounted for 2.4% in the quarter as compared to 1.9% in the same quarter of last year.
General and administrative expenses amounted to RMB12.6 million (US$1.8 million), representing a decrease of 31.1% from RMB18.3 million in the same quarter of last year. Excluding the share-based compensation expenses, general and administrative expenses as a percentage of net revenue accounted for 0.5% this quarter, maintaining the same as last year.
Technology expenses were RMB14.4 million (US$2.1 million), representing a decrease of 6.9% from RMB15.5 million in the same quarter of last year. Excluding the share-based compensation expenses, technology expenses as a percentage of net revenue accounted for 0.6% in the quarter as compared to 0.4% in the same quarter of last year.

Loss from operations was RMB20.0 million (US$2.9 million), compared with income from operations of RMB0.1 million in the same quarter of last year.

Non-GAAP loss from operations

⁽⁴⁾
was RMB18.8 million (US$2.7 million), compared with non-GAAP income from operations of RMB4.3 million in the same quarter of last year.

Net loss was RMB26.8 million (US$3.9 million), compared with RMB7.3 million in the same quarter of last year. As a percentage of net revenue, net loss accounted for 1.1% this quarter as compared to 0.2% in the same quarter of last year.

Non-GAAP net loss

⁽⁵⁾
was RMB25.7 million (US$3.7 million), compared with RMB3.2 million in the same quarter of last year. As a percentage of net revenue, non-GAAP net loss accounted for 1.1% this quarter as compared to 0.1% in the same quarter of last year.

Net loss attributable to ordinary shareholders was RMB37.0 million (US$5.4 million), compared with RMB17.6 million in the same quarter of last year. As a percentage of net revenue, net loss attributable to ordinary shareholders accounted for 1.6% this quarter as compared to 0.5% in the same quarter of last year.

Non-GAAP net loss attributable to ordinary shareholders

⁽⁶⁾
was RMB35.9 million (US$5.2 million), compared with RMB13.5 million in the same quarter of last year. As a percentage of net revenue, non-GAAP net loss attributable to ordinary shareholders accounted for 1.5% this quarter as compared to 0.4% in the same quarter of last year.

(4) Non-GAAP income (loss) from operations represents income (loss) from operations excluding share-based compensation expenses.

(5) Non-GAAP net loss represents net loss excluding share-based compensation expenses, net of tax. Considering the impact of accretion of redeemable non-controlling interest for the first quarter 2026, non-GAAP net loss is used as a meaningful measurement of the operation performance of the Company.

(6) Non-GAAP net loss attributable to ordinary shareholders represents net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax.

As of March 31, 2026, the Company held cash and cash equivalents, restricted cash and short-term investments totaling RMB396.6 million (US$57.5 million), compared to RMB611.3 million as of December 31, 2025. Amount of RMB0.95 billion has been included in the balances of redeemable non-controlling interests and accrued expenses and other current liabilities. This amount is owed to a group of investors of 1 Pharmacy Technology pursuant to equity investments made in 2020, as previously disclosed in the Company’s annual report. To date, 111 had repaid approximately RMB282.2 million to all investors in 1 Pharmacy Technology as a result of the holders exercising their redemption rights. Following further discussions, investors representing 60.3% of the total outstanding principal amount have agreed to further restructure the redemption obligation at extended periods, if the holders exercise their redemption rights. For further details on the terms of 111’s arrangements with these investors, please see “Item 5. Operating and Financial Review and Prospects—B. Liquidity and Capital Resources” in the Company’s annual report for the fiscal year ended December 31, 2025.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses non-GAAP income from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS, as supplemental measures to review and assess its operating performance. The Company defines non-GAAP income from operations as income from operations excluding share-based compensation expenses. The Company defines non-GAAP net income (loss) as net loss excluding share-based compensation expenses, net of tax. The Company defines non-GAAP net loss attributable to ordinary shareholders as net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax. The Company defines non-GAAP loss per ADS as net loss attributable to ordinary shareholders per ADS excluding share-based compensation expenses, net of tax per ADS. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.

The Company believes that non-GAAP income from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in income from operations and net loss. Share-based compensation expenses is a non-cash expense that varies from period to period. As a result, management excludes the items from its internal operating forecasts and models. Management believes that the adjustments for share-based compensation expenses provide investors with a reasonable basis to measure the company’s core operating performance, in a more meaningful comparison with the performance of other companies. The Company believes that non-GAAP income from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS provide useful information about its operating results, enhances the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP income from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, or non-GAAP loss per ADS is that it does not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP measures, 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.

Reconciliation of the non-GAAP financial measures to the most comparable U.S. GAAP measures is included at the end of this press release.

Exchange Rate Information Statement

This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.8980 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 31, 2026.

Forward-Looking Statements

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. 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,” “target,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as 111’s strategic and operational plans, contain forward-looking statements. 111 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability comply with extensive and evolving regulatory requirements, its ability to compete effectively in the evolving PRC general health and wellness market, its ability to manage the growth of its business and expansion plans, its ability to achieve or maintain profitability in the future, its ability to control the risks associated with its pharmaceutical retail and wholesale businesses, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and 111 does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About 111, Inc.

111, Inc. (NASDAQ: YI) (“111” or the “Company”) is a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China. The Company provides consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy, 1 Pharmacy, and indirectly through its offline virtual pharmacy network. The Company also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation, electronic prescription service, and patient management service. In addition, the Company’s online platform, 1 Medicine, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to better serve their customers with cloud-based services. 111 also provides an omni-channel drug commercialization platform to its strategic partners, which includes services such as digital marketing, patient education, data analytics, and pricing monitoring.

For more information on 111, please visit: http://ir.111.com.cn/.

For more information, please contact:

111, Inc.
Investor Relations
Email: [email protected]

111, Inc.
Media Relations
Email: [email protected]
Phone: +86-021-2053 6666 (China)

111, Inc.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except for share and per share data)

	As of	As of
	December 31, 2025	March 31, 2026
	RMB	RMB	US$
ASSETS
Current assets:
Cash and cash equivalents	510,967	346,203	50,189
Restricted cash	50,337	30,383	4,405
Short-term investments	50,031	20,013	2,901
Accounts receivable, net	259,686	188,963	27,394
Notes receivable	58,617	74,349	10,778
Inventories	998,465	1,016,460	147,356
Prepayments and other current assets	196,756	185,383	26,875
Total current assets	2,124,859	1,861,754	269,898
Property and equipment, net	21,108	21,211	3,075
Intangible assets, net	868	788	114
Other non-current assets	9,285	9,345	1,355
Operating lease right-of-use assets	44,122	41,729	6,049
Total assets	2,200,242	1,934,827	280,491

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT
Current liabilities:
Short-term borrowings	187,631	257,631	37,349
Accounts payable	1,282,368	1,212,511	175,777
Accrued expense and other current liabilities	483,676	248,060	35,961
Total current liabilities	1,953,675	1,718,202	249,087
Long-term operating lease liabilities	29,965	26,310	3,814
Other non-current liabilities	2,181	2,181	316
Total liabilities	1,985,821	1,746,693	253,217

MEZZANINE EQUITY
Redeemable non-controlling interests	935,917	946,924	137,275

SHAREHOLDERS’ DEFICIT
Ordinary shares Class A	34	34	5
Ordinary shares Class B	25	25	4
Treasury shares	(5,887)	(5,887)	(853)
Additional paid-in capital	3,181,343	3,182,470	461,361
Accumulated deficit	(3,950,384)	(3,987,425)	(578,055)
Accumulated other comprehensive income	72,635	72,015	10,440
Total shareholders’ deficit	(702,234)	(738,768)	(107,098)
Non-controlling interest	(19,262)	(20,022)	(2,903)
Total deficit	(721,496)	(758,790)	(110,001)
Total liabilities, mezzanine equity and deficit	2,200,242	1,934,827	280,491

111, Inc.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(In thousands, except for share and per share data)

	For the three months ended March 31,
	2025	2026
	RMB	RMB	US$
Net revenues	3,529,279	2,361,584	342,358
Operating costs and expenses:
Cost of products sold	(3,334,184)	(2,235,626)	(324,098)
Fulfillment expenses	(93,566)	(61,224)	(8,876)
Selling and marketing expenses	(67,908)	(58,024)	(8,412)
General and administrative expenses	(18,341)	(12,636)	(1,832)
Technology expenses	(15,459)	(14,386)	(2,086)
Other operating income	324	346	50
Total operating costs and expenses	(3,529,134)	(2,381,550)	(345,254)
Income (Loss) from operations	145	(19,966)	(2,896)
Interest income	1,254	733	106
Interest expense	(8,732)	(7,858)	(1,139)
Foreign exchange gain	42	275	40
Other income, net	–	21	3
Loss before income taxes	(7,291)	(26,795)	(3,886)
Income tax expense	(16)	–	–
Net loss	(7,307)	(26,795)	(3,886)
Net loss attributable to non-controlling interest	1,745	761	110
Net loss attributable to redeemable non-controlling interest	445	1,672	242
Adjustment attributable to redeemable non-controlling interest	(12,532)	(12,679)	(1,838)
Net loss attributable to ordinary shareholders	(17,649)	(37,041)	(5,372)
Other comprehensive loss
Unrealized gains of available-for-sale securities,	–	116	17
Realized gains of available-for-sale debt securities	–	(134)	(19)
Foreign currency translation adjustments	(80)	(602)	(87)
Comprehensive loss	(17,729)	(37,661)	(5,461)
Loss per ADS:
Basic and diluted	(2.00)	(4.20)	(0.60)
Weighted average number of shares used in computation of loss per share
Basic and diluted	173,119,578	175,898,056	175,898,056

111, Inc.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)

	For the three months ended March 31,
	2025	2026
	RMB	RMB	US$

Net cash provided by (used in) operating activities	112,599	(91,722)	(13,297)
Net cash (used in) provided by investing activities	(1,088)	29,350	4,256
Net cash (used in) provided by financing activities	(72,981)	(122,025)	(17,690)
Effect of exchange rate changes on cash and cash equivalents, and restricted cash	(30)	(321)	(47)
Net increase (decrease) in cash and cash equivalents, and restricted cash	38,500	(184,718)	(26,778)
Cash and cash equivalents, and restricted cash at the beginning of the period	518,332	561,304	81,372
Cash and cash equivalents, and restricted cash at the end of the period	556,832	376,586	54,594

111, Inc.
Unaudited Reconciliation of GAAP and Non-GAAP Results
(In thousands, except for share and per share data)

	For the three months ended March 31,
	2025	2026
	RMB	RMB	US$

Income (loss) from operations	145	(19,966)	(2,896)
Add: Share-based compensation expenses	4,115	1,127	163
Non-GAAP income (loss) from operations	4,260	(18,839)	(2,733)

Net loss	(7,307)	(26,795)	(3,886)
Add: Share-based compensation expenses, net of tax	4,115	1,127	163
Non-GAAP net loss	(3,192)	(25,668)	(3,723)

Net loss attributable to ordinary shareholders	(17,649)	(37,041)	(5,372)
Add: Share-based compensation expenses, net of tax	4,115	1,127	163
Non-GAAP net loss attributable to ordinary shareholders	(13,534)	(35,914)	(5,209)

Loss per ADS ⁽⁷⁾: Basic and diluted	(2.00)	(4.20)	(0.60)
Add: Share-based compensation expenses per ADS ⁽⁷⁾, net of tax	0.40	0.20	0.00
Non-GAAP loss per ADS ⁽⁷⁾	(1.60)	(4.00)	(0.60)

(7) Every one ADS represents twenty Class A ordinary shares.

View original content:https://www.prnewswire.com/news-releases/111-inc-announces-first-quarter-2026-unaudited-financial-results-302791140.html

SOURCE 111, Inc.

June 4, 2026 4:03 am

Alvotech announces resubmission of U.S. Biologics License Applications for AVT05, a proposed biosimilar to Simponi® and Simponi Aria®, and AVT06, a proposed biosimilar to Eylea®

REYKJAVIK, Iceland, June 04, 2026 (GLOBE NEWSWIRE) — Alvotech (NASDAQ: ALVO; ALVO-SDB), a global biotechnology company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced the resubmission to the U.S. Food and Drug Administration (FDA) of Biologics License Applications (BLAs) for AVT05, a proposed biosimilar to Simponi^® and Simponi Aria^® (golimumab), and AVT06, a proposed biosimilar to Eylea^® (aflibercept) 2 mg.

Under a partnership with Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), Alvotech is responsible for the development and manufacturing of AVT05 and AVT06, while Teva is responsible for commercialization.

The resubmissions follow the submission of Alvotech’s response to the FDA’s Post-Application Action Letter (PAAL) related to the company’s Reykjavik manufacturing facility. In addition, the company has submitted responses to observations from a routine cGMP surveillance FDA inspection at the facility, completed in May 2026, and has continued to strengthen its quality systems and manufacturing operations as part of its ongoing enhancement program.

The company expects the FDA to conduct a six-month review of the resubmitted applications, consistent with the applicable regulatory timelines.

AVT03, Alvotech’s proposed biosimilar to Prolia^® and Xgeva^® (denosumab), is partnered with Dr. Reddy’s Laboratories Ltd. which, as applicant, is responsible for the U.S. regulatory submission.

“These resubmissions represent an important milestone following extensive work across our manufacturing and quality organization,” said Lisa Graver, Chief Executive Officer of Alvotech. “We have worked closely with the FDA throughout this process, including responding to the agency’s Post-Application Action Letter and supporting a routine inspection of our Reykjavik facility in May. As previously disclosed, we believe the outcome of the recent inspection demonstrated the strong cGMP fundamentals of the site and the robustness of the improvements implemented since last year. We remain focused on execution, operational discipline and bringing high-quality biosimilars to patients worldwide.”

AVT05 is a proposed biosimilar to Simponi^® and Simponi Aria^® (golimumab), biologic medicines used to treat a variety of chronic inflammatory conditions. AVT06 is a proposed biosimilar to Eylea^® (aflibercept) 2 mg, a biologic medicine used to treat several serious retinal disorders, including conditions that may lead to vision loss or blindness.

About AVT05

AVT05 is a biosimilar to Simponi^® (golimumab) that has been approved in multiple markets globally including in the European Economic Area (EEA), the United Kingdom, and Japan. In the United States, AVT05 is being developed as a biosimilar candidate to Simponi^® as a subcutaneous formulation and Simponi Aria^® as an intravenous formulation.

About AVT06

AVT06 is a biosimilar to Eylea^® (aflibercept) 2 mg that has been approved in multiple markets globally, including in the European Economic Area (EEA), the United Kingdom, Japan and Canada.

About AVT03

AVT03 is a biosimilar to Prolia^® and Xgeva^® (denosumab) that has been approved in multiple markets globally, including the EEA, the UK and Japan.

About Simponi^® and Simponi Aria^®

Simponi^® (golimumab) is a subcutaneous tumor necrosis factor (TNF) blocker and Simponi Aria^® (golimumab) is the intravenous formulation. Simponi and Simponi Aria are approved for a range of chronic inflammatory diseases including rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, ulcerative colitis and polyarticular juvenile idiopathic arthritis.

About Eylea^®

Eylea^® (aflibercept) is a vascular endothelial growth factor (VEGF) inhibitor indicated for the treatment of several retinal diseases including neovascular (wet) age-related macular degeneration, diabetic macular edema and retinal vein occlusion.

About Prolia^® and Xgeva^®

Prolia^® / Xgeva^® (denosumab) is a monoclonal antibody used to treat osteoporosis and to prevent skeletal-related events in patients with certain cancers involving bone.

Use of trademarks

Simponi^® and Simponi Aria^® are trademarks of Johnson & Johnson. Eylea^® is a trademark of Regeneron Pharmaceuticals Inc. Prolia^® and Xgeva^® are trademarks of Amgen. Reference to these trademarks does not imply any affiliation between Alvotech, Teva or Dr. Reddy’s and the trademark owners.

For further information, contact:

Media

Benedikt Stefansson
Sarah MacLeod
[email protected]

Investors

Dr. Balaji V Prasad
Benedikt Stefansson
[email protected]

About Alvotech

Alvotech is a biotechnology company, founded by Robert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in biosimilars by delivering high-quality, cost-effective products and services, enabled by a fully integrated approach and broad in-house capabilities. Five biosimilars are already approved and marketed in multiple global markets, including biosimilars to Humira^® (adalimumab), Stelara^® (ustekinumab), Simponi^® (golimumab), Eylea^® (aflibercept) and Prolia^®/Xgeva^® (denosumab). The current development pipeline includes nine disclosed biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the United States, Europe, Japan, China, and other Asian countries and large parts of South America, Africa and the Middle East. For more information, please visit https://www.alvotech.com. None of the information on the Alvotech website shall be deemed part of this press release.

For more information, please visit our investor portal, and our website or follow us on social media on LinkedIn, Facebook, Instagram and YouTube.

Alvotech Forward Looking Statements

Certain statements in this communication may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include, for example, Alvotech’s expectations regarding the regulatory progress and expected timing of BLA resubmission for AVT05 and AVT06, the adequacy of the improvements on cGMP since last year, competitive advantages, business prospects and opportunities including pipeline product development, future plans and intentions, the potential approval and commercial launch of its product candidates, the timing of regulatory approval, market launches and financial projections. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Alvotech and its management, are inherently uncertain and are inherently subject to risks, variability, and contingencies, many of which are beyond Alvotech’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to factors set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in documents that Alvotech may from time-to-time file or furnish with the SEC. There may be additional risks that Alvotech does not presently know or that Alvotech currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, assurance, prediction or definitive statement of a fact or probability. Alvotech does not undertake any duty to update these forward-looking statements or to inform the recipient of any matters of which any of them becomes aware of which may affect any matter referred to in this communication. Alvotech disclaims any and all liability for any loss or damage (whether foreseeable or not) suffered or incurred by any person or entity as a result of anything contained or omitted from this communication and such liability is expressly disclaimed.

June 4, 2026 4:03 am

WellSpan Health and Philips Announce Landmark Strategic Alliance, Accelerating Innovation and Research Across Central Pennsylvania and Northern Maryland

June 4, 2026

Seven-year collaboration puts WellSpan at the forefront of diagnostics and imaging in community health through a groundbreaking research and innovation strategy aimed at shaping the future of care delivery

Amsterdam and YORK, Pa. – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, and WellSpan Health, the leading health care system in Central Pennsylvania and Northern Maryland, today announced a landmark seven-year strategic alliance that establishes a new research and innovation collaboration and brings new advanced imaging and diagnostics technology products and platforms to patients across the region. The alliance is the latest addition to WellSpan’s growing innovation ecosystem, positioning the system as a national leader in the application of artificial intelligence and technology in health care.

“As WellSpan has grown in clinical capability, so has our responsibility to be more intentional about how we plan, deploy and support the life-saving technology our teams and patients rely on,” said Roxanna Gapstur, Ph.D., R.N., WellSpan president and CEO. “This collaboration gives us that foundation, bringing consistency and coordination across our entire system, advancing digital and AI-enabled care and building a leading research and co-development platform that will transform the future of health care. Community health systems like WellSpan are where most Americans receive care, and we are proving they belong at the center of health care innovation.”

The collaboration includes a research agreement and joint innovation strategy, the first of its kind between Philips and a U.S. community health system, which will focus on validating the performance of new tools and technology. Research is expected to examine how AI and digital tools are improving throughput, cost and workflow efficiency, aimed at advancing WellSpan’s commitment to reclaim more than half a million hours of workforce time annually.

In addition, the innovation component of this relationship will allow WellSpan, together with Philips Research, to co-develop net-new products and features that advance care delivery. This work will draw on Philips’ R&D pipeline to design and develop future generations of health care technology, with WellSpan serving as both a proving ground and a co-creator.

A long-term commercial agreement establishes Philips as WellSpan’s preferred vendor across all applicable imaging modalities (CT, MR, digital X-ray, ultrasound, and image-guided therapy). The agreement covers all 12 WellSpan hospitals, as well as its diagnostic imaging centers and ambulatory surgery centers, ensuring a consistent experience for patients wherever they need care. A defining feature of the commercial agreement is its structured approach to technology lifecycle management: WellSpan and Philips will align equipment, service, training and upgrade planning under a single coordinated framework, enabling more consistent imaging availability across sites, reducing gaps in access for patients and laying the foundation for continued innovation.

“This collaboration builds on a long-standing relationship between Philips and WellSpan, and it also marks an important evolution in how we work together,” said Roy Jakobs, CEO, Royal Philips. “By combining our health technology leadership with WellSpan’s clinical expertise and research focus, we’re creating a long-term alliance designed to drive measurable improvements in patient care quality, operational performance and innovation. Together, we’re establishing a scalable, AI-driven, platform-based approach that supports clinicians today while shaping how care is delivered in the future.”

*The opinions and clinical experiences presented herein are specific to the featured topic(s) and are not linked to any specific patient and are for information purposes only. The medical experience(s) derived from specified topic(s) may not be predictive of all patients. Individual results may vary depending on a variety of patient-specific attributes and related factors. Nothing in this news announcement is intended to provide specific medical advice or to take the place of written law or regulations.

Contact:

Avi Dines
Philips North America
Tel: +1-781-690-3814
Email: [email protected]

Jayme Maniatis
Philips Global External Relations
Tel.: +1 617 894 8368
E-mail: [email protected]

Contact:

Ryan Coyle
WellSpan Health
Tel: +1-717-851-3151
Email: [email protected]

About WellSpan Health

WellSpan Health’s vision is to reimagine healthcare through the delivery of comprehensive, equitable health and wellness solutions throughout our continuum of care. As an integrated delivery system focused on leading in value-based care, we encompass more than 2,700 employed providers, more than 250 locations, 12 award-winning hospitals, home care and a behavioral health organization serving Central Pennsylvania and Northern Maryland. Our high-performing Medicare Accountable Care Organization (ACO) is the region’s largest and one of the best in the nation. With a team 23,000 strong, WellSpan experts provide a range of services, from wellness and employer services solutions to advanced care for complex medical and behavioral conditions. Our clinically integrated network of 3,000 aligned physicians and advanced practice providers is dedicated to providing the highest quality and safety, inspiring our patients and communities to be their healthiest.

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home.

Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2025 sales of approximately EUR 18 billion and employs approximately 64,300 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

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WellSpan York Hospital

June 4, 2026 4:03 am

Expro Strengthens Longstanding Partnership With Deployment of Solus™ Technology in the Gulf of America

Expro Strengthens Longstanding Partnership With Deployment of Solus™ Technology in the Gulf of America

The multi-million-dollar agreement builds on a collaboration spanning more than two decades.

HOUSTON–(BUSINESS WIRE)–
Expro (NYSE: XPRO), a leading provider of energy services, has signed a new contract extension for up to five years, including the deployment of one of Expro’s latest technologies, with a global operator to continue delivering subsea completion and intervention services in the Gulf of America (GoA) – reinforcing a partnership that has spanned more than two decades.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260604694670/en/

Solus™ – Expro’s Shear and Seal Valve

Building on the success of recent projects this contract extension will include the deployment of Solus™, Expro’s Shear and Seal Valve. The valve is designed to provide an additional layer of safety and reliability during subsea operations, supporting well integrity in challenging offshore environments, and demonstrates Expro’s commitment to bring new technology to the market. This new agreement will run for up to five years.

Under the contract, Expro will provide Subsea Landing String Services, drawing on the Company’s subsea well access expertise from its North and Latin America (NLA) region. This system is designed to enable safe and efficient well intervention and completion activities, offering flexibility to meet the customer’s evolving operational needs.

Daniel More, Vice President Subsea Well Access of Expro said: “This contract represents the continued strength of our long-term relationship with the global operator and underlines their confidence in Expro’s subsea capabilities. We’re extremely proud of the success we’ve achieved together and look forward to supporting their ongoing projects in the Gulf of America with safe, reliable, and efficient subsea services.”

Notes to Editors

Working for clients across the well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what Expro considers to be best-in-class safety and service quality. Expro’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions.

With roots dating to 1938, Expro has approximately 7,000 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in more than 60 countries.

For more information, please visit and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release, and oral statements made from time to time by representatives of the Company, may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the success, safety and efficiency of the Company’s subsea services, and future growth, and are indicated by words or phrases such as “anticipate,” “outlook,” “estimate,” “expect,” “project,” “believe,” “envision,” “goal,” “target,” “can,” “will,” and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company’s expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260604694670/en/

Media Contact

[email protected]

KEYWORDS: United States North America Texas

INDUSTRY KEYWORDS: Alternative Energy Energy Other Energy Oil/Gas

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Solus™ – Expro’s Shear and Seal Valve

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June 4, 2026 3:04 am

Kennedy Wilson and APG Form €2 Billion Residential Joint Venture to Develop and Manage over 3,400 Private Rented Homes in Ireland

Kennedy Wilson and APG Form €2 Billion Residential Joint Venture to Develop and Manage over 3,400 Private Rented Homes in Ireland

Platform to develop three sites in Dublin, delivering approximately 2,300 new homes

DUBLIN, Ireland–(BUSINESS WIRE)–
Kennedy Wilson (NYSE: KW), a global real estate investment company, announces the formation of a new residential joint venture with APG, on behalf of, amongst others, Dutch pension fund ABP, one of the world’s largest pension investors, to create a €2 billion residential development and asset management platform. The venture will encompass more than 3,400 private rented homes across both operating and development assets, further strengthening Kennedy Wilson’s position as the leader in residential real estate in the Irish market. Upon completion of the developments, Kennedy Wilson’s owned and managed Irish portfolio will extend to approximately 6,900 residential units.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260604996457/en/

Player Wills – Dublin, Ireland

A Platform Built for Scale

The joint venture comprises two complementary investment opportunities. The first sees Kennedy Wilson acquire a minority equity interest in APG’s existing Cherrywood portfolio in south Dublin, one of Ireland’s largest multi-family communities. The over 1,100-unit portfolio is already fully developed and occupied, and APG will retain a majority interest. The second will also see Kennedy Wilson acquire a minority equity interest in, and develop and deliver, approximately 2,300 new private rented sector units across the Player Wills, Bailey Gibson and Clonliffe sites.

Development of Player Wills, Bailey Gibson and Clonliffe Sites

Once developed, all three sites will transform long-derelict industrial and institutional land in established Dublin neighbourhoods into vibrant new residential communities. Each site holds full planning permission, with construction commencing immediately on over 700 units at the former Player Wills cigarette factory on the South Circular Road in Dublin 8. Construction on the remaining 1,500+ units across the Bailey Gibson and Clonliffe schemes is expected to commence early 2027.

John Keegan, Head of Capital Formation, EMEA at Kennedy Wilson, commented: “This joint venture marks a significant milestone for Kennedy Wilson in Ireland and represents a compelling opportunity to partner with one of the world’s largest pension funds to deliver much-needed private rental homes at scale. These developments span from the regeneration of former industrial sites at Player Wills and Bailey Gibson to the landmark Clonliffe development. They are all projects that will transform communities, create lasting amenities for local residents, and make a meaningful contribution to supporting Ireland’s housing delivery targets.

“As a long-term investor in Ireland over the past 15 years, we are proud to have been one of the most active developers and asset managers in Ireland, delivering more than 1,800 homes in Dublin and having stewardship for a portfolio of approximately 3,500 owned units today. Our proven track record of delivery, combined with our ambition to further grow this platform through future development, reflects our continued confidence in the Irish market and Kennedy Wilson’s long-term commitment to Ireland.”

Robert-Jan Foortse, Head of Real Estate Europe, APG, commented: “We are pleased to enter into this partnership with Kennedy Wilson, marking an important next step for APG in Ireland and reflecting our continued conviction in the Irish residential market. Building on the strong progress we have seen at Cherrywood, this portfolio and pipeline can deliver high-quality homes at scale, help transform neighborhoods and contribute to vibrant, sustainable communities in a market with acute demand for housing.

“We believe long-term institutional capital like ours can play an important role in supporting the delivery of well-managed housing and creating places where people want to live. For our pension fund clients and their participants, this is the type of long-term residential investment we seek, combining attractive financial fundamentals with meaningful social relevance, with the latter further cementing the long-term resilience of the former.”

About Kennedy Wilson

Kennedy Wilson (NYSE: KW) is a leading real estate investment company with $36 billion of assets under management in high growth markets across the United States, the UK and Ireland. Drawing on decades of experience, its relationship-oriented team excels at identifying opportunities and building value through market cycles, closing more than $60 billion in total transactions across the property spectrum over the past 17 years. Kennedy Wilson owns, operates, and builds real estate within its high-quality, core real estate portfolio and through its investment management platform, where the company targets opportunistic equity and debt investments alongside partners. For further information, please visit www.kennedywilson.com

About APG

As the largest pension services provider in the Netherlands APG manages approximately €601 billion (December 2025) in pension assets for 4.7 million participants. APG provides executive consultancy, asset management, pension administration and pension communication. With approximately 3,700 employees we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, and Singapore. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects.

For further information, please visit: https://apg.nl/en/

KW-IR

View source version on businesswire.com: https://www.businesswire.com/news/home/20260604996457/en/

Kennedy Wilson

Investors

Daven Bhavsar, CFA

Head of Investor Relations

+1 (310) 887-3431

[email protected]

Irish Media

Sam Moore

+353 87 737 9089

[email protected]

U.S. Media

Emily Heidt

Managing Director, Communications

+1 (310) 887-3499

[email protected]

KEYWORDS: California Netherlands North America United States Ireland Europe

INDUSTRY KEYWORDS: Commercial Building & Real Estate Personal Finance Construction & Property Finance Asset Management Professional Services REIT Residential Building & Real Estate

MEDIA:

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June 4, 2026 2:04 am

Aeva Technologies, Inc. Announces Pricing of Follow-On Offering

Aeva Technologies, Inc. Announces Pricing of Follow-On Offering

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Aeva Technologies, Inc. (“Aeva” or the “Company”, Nasdaq: AEVA), a leader in next-generation sensing and perception systems, today announced the pricing of its follow-on public offering of 4,494,382 shares of its common stock, at a price to the public of $22.25 per share. Closing of the offering is expected to occur on June 5, 2026, subject to customary closing conditions. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 674,157 shares of its common stock at the public offering price, less the underwriting discounts and commissions. The Company expects to use the net proceeds from the offering for general corporate purposes, including to meet the accelerating commercial interest in AI infrastructure and Co-Packaged Optics (CPO) in addition to the growing demand for existing applications.

Morgan Stanley, Goldman Sachs & Co. LLC and Oppenheimer & Co. are acting as book-running managers for the offering.

The securities described above are being offered pursuant to an automatically effective shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 3, 2026. A preliminary prospectus supplement and accompanying prospectus and the final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and may be obtained, when available, by contacting Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email to: [email protected], Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by email to: [email protected] or Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26^th Floor, New York, NY 10004, telephone: 212-667-8055, or by email to: [email protected].

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

About Aeva Technologies, Inc.

Aeva’s mission is to bring the next wave of perception to a broad range of applications from automated driving, manufacturing automation and smart infrastructure, to robotics and consumer devices. Aeva is accelerating autonomy with its groundbreaking perception platform that integrates lidar-on-chip technology, system-on-chip processing, and perception algorithms onto silicon leveraging silicon photonics. Aeva 4D LiDAR sensors uniquely detect velocity and position simultaneously, allowing automated devices like vehicles and robots to make more intelligent and safe decisions.

Aeva, the Aeva logo, Aeva 4D LiDAR, Aeva Atlas, Aeries, Aeva Eve, Aeva Omni, Aeva CityOS, Aeva Ultra Resolution, Aeva CoreVision, and Aeva X1 are trademarks/registered trademarks of Aeva, Inc. All rights reserved. Third-party trademarks are the property of their respective owners.

Forward-Looking Statements

Except for historical information, certain statements in this press release, including statements regarding the completion of the offering are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to risks, uncertainties and assumptions about Aeva and its business, including, without limitation, the satisfaction of the closing conditions related to the offering, and the expected use of net proceeds from the offering. Such forward-looking statements involve substantial risks and uncertainties that relate to future events and the actual results could differ significantly from those expressed or implied by the forward-looking statements. Any forward-looking statements are based on Aeva’s current expectations, estimates and assumptions regarding future events and are applicable only as of the dates of such statements. Aeva makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change, except as required by law. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Aeva’s business in general, please refer to the “Risk Factors” section in the preliminary prospectus supplement and in Aeva’s Annual Report on Form 10-K filed with the SEC on March 20, 2026.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260603175632/en/

Media:

Michael Oldenburg

[email protected]

Investors:

Andrew Fung

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Other Manufacturing Technology Automotive Vehicle Technology Manufacturing Audio/Video Hardware Robotics Consumer Electronics

MEDIA:

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June 4, 2026 1:05 am

Pharming announces U.S. FDA acceptance of sNDA resubmission for Joenja® (leniolisib) to treat children aged 4 to 11 years with APDS

If approved, Joenja will be the first approved treatment in the U.S. for children with activated phosphoinositide 3-kinase delta (PI3Kδ) syndrome (APDS), a rare primary immunodeficiency
Supplemental New Drug Application (sNDA) resubmission seeks approval for 40 mg and 50 mg twice-daily dosing
Separate sNDA for lower weight pediatric patients planned for second half 2026

Leiden, the Netherlands, June 4, 2026: Pharming Group (Euronext: PHARM; Nasdaq: PHAR) today announced that the U.S. Food and Drug Administration (FDA) has accepted its resubmitted supplemental New Drug Application (sNDA) seeking approval for Joenja® (leniolisib), an oral, selective phosphoinositide 3-kinase delta (PI3Kδ) inhibitor, as a treatment for children aged 4 to 11 years with activated phosphoinositide 3-kinase delta syndrome (APDS), a rare primary immunodeficiency. Following the Complete Response Letter (CRL) received on January 30, 2026, and a subsequent Type A meeting with the FDA on March 26, 2026, the resubmission seeks approval of 40 mg and 50 mg twice-daily dosing for pediatric patients weighing 27 kg or more, who represent a meaningful proportion of the identified pediatric patient population. The resubmission includes additional data requested by the FDA on analytical methods used for production batch testing. The FDA has assigned a Prescription Drug User Fee Act (PDUFA) target action date of October 24, 2026.

A separate sNDA seeking approval for lower doses for patients weighing less than 27 kg is planned for this summer.

Fabrice Chouraqui, Chief Executive Officer of Pharming, commented:

“We are pleased that the FDA has accepted our resubmission, bringing us one step closer to potentially making Joenja available to younger patients living with APDS. These young patients and their families continue to face the significant burden of this rare disease, and there is a clear need for an approved targeted treatment. We look forward to the continued collaboration with the FDA to help bring Joenja to the broader pediatric APDS population as quickly as possible.”

The resubmission is supported by positive data from the open-label, multinational, single-arm Phase III study in children aged 4 to 11 years, which showed improvements over 12 weeks in two clinically relevant hallmarks of APDS, reduced lymphadenopathy and increased naïve B cells, together indicating a correction of the underlying immune defect. The improvements in lymphoproliferation and immunophenotype correction were seen across all dose levels investigated and were consistent with the improvements previously reported in adolescent and adult patients. All treatment emergent adverse events were reported to be mild to moderate in nature. There were no drug related serious adverse events, and all patients completed the 12-week treatment period.

Joenja received approval from the FDA for the treatment of APDS in adult and pediatric patients 12 years of age and older in March 2023.

About Activated Phosphoinositide 3-Kinase δ Syndrome (APDS)

APDS is a rare primary immunodeficiency that was first characterized in 2013. APDS is caused by variants in either one of two identified genes known as PIK3CD or PIK3R1, which are vital to the development and function of immune cells in the body. Variants of these genes lead to hyperactivity of the PI3Kδ (phosphoinositide 3-kinase delta) pathway, which causes immune cells to fail to mature and function properly, leading to immunodeficiency and dysregulation.^1,2^,³ APDS is characterized by a variety of symptoms, including severe, recurrent sinopulmonary infections, lymphoproliferation, autoimmunity, and enteropathy.^4,⁵ Because these symptoms can be associated with a variety of conditions, including other primary immunodeficiencies, it has been reported that people with APDS are frequently misdiagnosed and suffer a median 7-year diagnostic delay.⁶ As APDS is a progressive disease, this delay may lead to an accumulation of damage over time, including permanent lung damage and lymphoma.^4-7 A definitive diagnosis can be made through genetic testing. APDS affects approximately 1 to 2 people per million worldwide.⁸

About leniolisib

Leniolisib is an oral small molecule phosphoinositide 3-kinase delta (PI3Kẟ) inhibitor approved as the first and only targeted treatment of activated phosphoinositide 3-kinase delta (PI3Kδ) syndrome (APDS) in the U.S., U.K., Australia and Israel in adult and pediatric patients 12 years of age and older and in Japan for patients 4 years of age and older. Leniolisib inhibits the production of phosphatidylinositol-3-4-5-trisphosphate, which serves as an important cellular messenger and regulates a multitude of cell functions such as proliferation, differentiation, cytokine production, cell survival, angiogenesis, and metabolism. Results from a randomized, placebo-controlled Phase III clinical trial demonstrated statistically significant improvement in the coprimary endpoints, reflecting a favorable impact on the immune dysregulation and deficiency seen in these patients, and open label extension data has supported the safety and tolerability of long-term leniolisib administration.^9,10
Leniolisib is currently under regulatory review for the treatment of APDS in Canada and several other countries. Leniolisib is also being evaluated in two Phase II clinical trials in primary immunodeficiencies (PIDs) with immune dysregulation. The safety and efficacy of leniolisib has not been established for PIDs with immune dysregulation beyond APDS.

About Pharming Group N.V.

Pharming Group N.V. (EURONEXT Amsterdam: PHARM/Nasdaq: PHAR) is a global biopharmaceutical company dedicated to transforming the lives of patients with rare, debilitating, and life-threatening diseases. We develop and commercialize a portfolio of innovative medicines, including small molecules and biologics. Pharming is headquartered in Leiden, the Netherlands, with U.S. and European operations.

For more information, visit www.pharming.com and find us on LinkedIn.

 
Forward-looking Statements
This press release may contain forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in these statements. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, “milestones”, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. Examples of forward-looking statements may include statements with respect to timing and progress of Pharming’s preclinical studies and clinical trials of its product candidates, Pharming’s clinical and commercial prospects, and Pharming’s expectations regarding its projected working capital requirements and cash resources, which statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to the scope, progress and expansion of Pharming’s clinical trials and ramifications for the cost thereof; and clinical, scientific, regulatory, commercial, competitive and technical developments. In light of these risks and uncertainties, and other risks and uncertainties that are described in Pharming’s 2025 Annual Report and the Annual Report on Form 20-F for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission, the events and circumstances discussed in such forward-looking statements may not occur, and Pharming’s actual results could differ materially and adversely from those anticipated or implied thereby. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Any forward-looking statements speak only as of the date of this press release and are based on information available to Pharming as of the date of this release. Pharming does not undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information.

Inside Information

This press release relates to the disclosure of information that qualifies, or may have qualified, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

References

Lucas CL, et al. Nat Immunol. 2014;15(1):88-97.
Elkaim E, et al. J Allergy Clin Immunol. 2016;138(1):210-218.
Nunes-Santos C, Uzel G, Rosenzweig SD. J Allergy Clin Immunol. 2019;143(5):1676-1687.
Coulter TI, et al. J Allergy Clin Immunol. 2017;139(2):597-606.
Maccari ME, et al. Front Immunol. 2018;9:543.
Jamee M, et al. Clin Rev Allergy Immunol. 2020 Dec;59(3):323-333.
Condliffe AM, Chandra A. Front Immunol. 2018;9:338.
Vanselow S, et al. Frontiers in Immunology. 2023;14:1208567.
Rao VK, et al Blood. 2023 Mar 2;141(9):971-983.
Rao VK, et al. J Allergy Clin Immunol 2024;153:265-74.

For further public information, contact:

Investor Relations

Michael Levitan, VP Investor Relations & Capital Markets
T: +1 (908) 705 1696
E: [email protected]

Media Relations

Global: Saskia Mehring, Head of Corporate Communications
T: +31 6 28 32 60 41
E: [email protected]

U.S.: Christina Skrivan (Precision AQ on behalf of Pharming)
T: +1 (636)-352-7883

Netherlands: Leon Melens (LifeSpring Life Sciences Communication on behalf of Pharming)
T: +31 6 53 81 64 27

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Pharming announces U.S. FDA acceptance of sNDA resubmission for Joenja_EN_4JUN26 (3)

June 4, 2026 1:03 am

EULAR 2026: Dapirolizumab Pegol Shows Potential to Reduce Flare Rates and Maintain Disease Control in Systemic Lupus Erythematosus

Steroid use reduction and disease control: In additional results from the Phase 3 PHOENYCS GO study, dapirolizumab pegol (DZP) plus standard of care was associated with sustained disease control at lower glucocorticoid doses through Week 48 compared with placebo plus standard of care, supporting reduced long-term steroid exposure
Reduced flare rates and immune marker improvements: In other findings presented at EULAR 2026, improvements in immunological markers and reduced flare rates were observed, supporting the potential of dapirolizumab pegol to address the complex burden of SLE

BRUSSELS, Belgium and CAMBRIDGE, Mass., June 04, 2026 (GLOBE NEWSWIRE) — UCB (Euronext Brussels: UCB) and Biogen Inc. (Nasdaq: BIIB) today announced data, comprising two posters and three abstracts, at the European Alliance of Associations for Rheumatology (EULAR) 2026 Congress, demonstrating the clinical profile of dapirolizumab pegol (DZP), an investigational biologic in patients with systemic lupus erythematosus (SLE).

Systemic lupus erythematosus (SLE) is a chronic autoimmune disease affecting multiple organs, including skin, joints and kidneys, often requiring long-term treatment to control disease activity.¹ Patients with SLE frequently experience flares, transient worsening of disease activity that can lead to permanent organ damage, increased morbidity, and even early mortality.² Many patients rely on steroid-based therapy to manage flares; however, prolonged steroid use is associated with significant cumulative toxicity, making steroid tapering while maintaining disease control a key goal in SLE management.^3,4

“Achieving and maintaining durable disease control while reducing glucocorticoid exposure is one of the central challenges in managing SLE,” said Megan E. B. Clowse, M.D., MPH, Chief of the Division of Rheumatology and Immunology, Duke University, and primary author of the PHOENYCS GO primary results. “The Phase 3 PHOENYCS GO data showed patients receiving dapirolizumab pegol were more likely to maintain disease control while tapering steroids – an important finding given strong evidence that cumulative steroid exposure and uncontrolled disease activity are major drivers of organ damage accrual, morbidity and mortality in SLE.”

Post hoc analyses displayed in one of the posters from the PHOENYCS GO program showed that, in patients with baseline glucocorticoid dose >7.5 mg/day prednisone equivalent, treatment with DZP plus standard of care was associated with a higher proportion of patients achieving control of disease activity while enabling glucocorticoid tapering to ≤7.5 mg/day through Week 48, compared with placebo plus standard of care.⁵ Importantly, these findings suggest that higher proportions of patients receiving DZP plus standard of care versus placebo plus standard of care achieved sustained glucocorticoid tapering while also achieving BICLA response, achieving SRI-4 response, or remaining free from moderate or severe BILAG-2004 flares through Week 48.⁵

“At UCB, our mission is to help improve the lives of people living with serious inflammatory diseases by advancing therapies that address unmet needs,” said Donatello Crocetta, Chief Medical Officer and Head of Global Medical Affairs at UCB. “These data showed the potential of dapirolizumab pegol to reduce long-term glucocorticoid use while maintaining disease control, an important goal for people living with SLE and the clinicians who care for them.”

Additional EULAR 2026 presentations highlighted the breadth of data from the PHOENYCS GO program, including:

Improvements in key immunological markers, including reduced anti-dsDNA antibodies and increased complement proteins C3 and C4 in patients with abnormal levels at baseline (Poster POS1364).⁶
Lower rates of moderate or moderate/severe BILAG-2004 flares with DZP plus standard of care versus placebo plus standard of care through Week 48, using alternative definitions of flares to increase measurement sensitivity (Abstract AB1163).⁷
Insights into how symptoms and flares are assessed in SLE, including fatigue as a burdensome patient-reported symptom that can be difficult to capture in clinical trials (Abstracts AB1184 and AB1125).^8,9

Together, these findings support the importance of tools that can measure patient experience and help inform more meaningful assessment of disease impact in both clinical practice and research.^8,9

“Systemic lupus erythematosus is a biologically complex disease, and these EULAR data further characterize dapirolizumab pegol’s impact across clinical, biological and patient-reported outcomes,” said Diana Gallagher, MD, Head of Immunology, MS and Alzheimer’s Development Units at Biogen. “Delivering this data reflects the strength of the UCB and Biogen collaboration and our shared commitment to advancing evidence that may help address the complex and multifaceted needs of people living with SLE.”

The EULAR data follow the recent publication of the Phase 3 PHOENYCS GO study in The Lancet, reporting clinically meaningful improvements in disease activity with dapirolizumab pegol at Week 48.¹⁰In the Phase 3 PHOENYCS GO study, DZP demonstrated a generally favorable safety profile, with safety findings consistent with previous DZP studies.^10,11Treatment-emergent adverse events were more common with DZP plus standard of care versus placebo plus standard of care, while serious treatment-emergent adverse events were less frequent in the DZP plus standard of care arm, and discontinuations due to treatment-emergent adverse events were low in both groups.¹⁰

About Dapirolizumab Pegol

Dapirolizumab pegol is a novel investigational humanized Fc-free polyethylene glycol (PEG)-conjugated antigen-binding (Fab’) fragment.¹¹ Dapirolizumab pegol inhibits CD40L signaling, which has been shown to reduce B-cell activation and autoantibody production, mitigate type 1 interferon (IFN) secretion and attenuate T-cell and antigen-presenting cell (APC) activation.¹¹ Dapirolizumab pegol is presently in Phase 3 clinical development for the treatment of systemic lupus erythematosus (SLE) under a collaboration between UCB and Biogen.^12,13

Dapirolizumab pegol is an investigational biologic currently in clinical development. The safety and efficacy have not been established, and it is not approved by any health authority worldwide.

About UCB

UCB, Brussels, Belgium (www.ucb.com), is a global biopharmaceutical company focused on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases of the immune system or of the central nervous system. With approximately 9,000 people in approximately 40 countries, the company generated revenue of €7.7 billion in 2025. UCB is listed on Euronext Brussels (symbol: UCB).

About Biogen

Founded in 1978, Biogen is a leading biotechnology company that pioneers innovative science to deliver new medicines to transform patient’s lives and to create value for shareholders and our communities. We apply deep understanding of human biology and leverage different modalities to advance first-in-class treatments or therapies that deliver superior outcomes. Our approach is to take bold risks, balanced with return on investment to deliver long-term growth.

We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media – Facebook, LinkedIn, X, YouTube.

Forward-looking Statements – UCB

This document contains forward-looking statements, including, without limitation, statements containing the words “potential”, “believes”, “anticipates”, “expects”, “intends”, “plans”, “seeks”, “estimates”, “may”, “will”, “continue” and similar expressions. These forward-looking statements are based on current plans, estimates and beliefs of management. All statements, other than statements of historical facts, are statements that could be deemed forward-looking statements, including estimates of revenues, operating margins, capital expenditures, cash, other financial information, expected legal, arbitration, political, regulatory or clinical results or practices and other such estimates and results. By their nature, such forward-looking statements are not guaranteeing future performance and are subject to known and unknown risks, uncertainties, and assumptions which might cause the actual results, financial condition, performance or achievements of UCB, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements contained in this document.

Important factors that could result in such differences include but are not limited to: global spread and impacts of wars, pandemics and terrorism, the general geopolitical environment, climate change, changes in general economic, business and competitive conditions, the inability to obtain necessary regulatory approvals or to obtain them on acceptable terms or within expected timing, costs associated with research and development, changes in the prospects for products in the pipeline or under development by UCB, effects of future judicial decisions or governmental investigations, safety, quality, data integrity or manufacturing issues, supply chain disruption and business continuity risks; potential or actual data security and data privacy breaches, or disruptions of UCB’s information technology systems, product liability claims, challenges to patent protection for products or product candidates, competition from other products including biosimilars or disruptive technologies/business models, changes in laws or regulations, exchange rate fluctuations, changes or uncertainties in laws and/or rules pertaining to tax and duties or the administration of such laws and/or rules, and hiring, retention and compliance of employees. There is no guarantee that new product candidates will be discovered or identified in the pipeline, or that new indications for existing products will be developed and approved. Movement from concept to commercial product is uncertain; preclinical results do not guarantee safety and efficacy of product candidates in humans. So far, the complexity of the human body cannot be reproduced in computer models, cell culture systems or animal models. The length of the timing to complete clinical trials and to get regulatory approval for product marketing has varied in the past and UCB expects similar unpredictability going forward. Products or potential products which are the subject of partnerships, joint ventures or licensing collaborations may be subject to disputes between the partners or may prove to be not as safe, effective or commercially successful as UCB may have believed at the start of such partnership. UCB’s efforts to acquire other products or companies and to integrate the operations of such acquired companies may not be as successful as UCB may have believed at the moment of acquisition. Also, UCB or others could discover safety, side effects or manufacturing problems with its products and/or devices after they are marketed. The discovery of significant problems with a product similar to one of UCB’s products that implicate an entire class of products may have a material adverse effect on sales of the entire class of affected products. Moreover, sales may be impacted by international and domestic trends toward managed care and health care cost containment, including pricing pressure, political and public scrutiny, customer and prescriber patterns or practices, and the reimbursement policies imposed by third-party payers as well as legislation affecting biopharmaceutical pricing and reimbursement activities and outcomes. Finally, a breakdown, cyberattack or information security breach could compromise the confidentiality, integrity and availability of UCB’s data and systems.

Given these uncertainties, the public is cautioned not to place any undue reliance on such forward-looking statements. These forward-looking statements are made only as of the date of this document, and do not reflect any potential impacts from the evolving event or risk as mentioned above as well as any other adversity, unless indicated otherwise. The company continues to follow the development diligently to assess the financial significance of these events, as the case may be, to UCB.

UCB expressly disclaims any obligation to update any forward-looking statements in this document, either to confirm the actual results or to report or reflect any change in its forward-looking statements with regard thereto or any change in events, conditions or circumstances on which any such statement is based, unless such statement is required pursuant to applicable laws and regulations.

Biogen Safe Harbor

This news release contains forward-looking statements, including, among others, relating to: the potential benefits, safety and efficacy of dapirolizumab pegol (DZP); the potential of dapirolizumab pegol to address the needs of people living with systemic lupus erythematosus (SLE), including the potential to help patients maintain disease control while tapering steroids; the anticipated benefits, risks and potential of Biogen’s collaboration arrangements with UCB; the potential of Biogen’s commercial business and pipeline programs, including dapirolizumab pegol; potential regulatory discussions, submissions and approvals and the timing thereof; and the risks and uncertainties associated with drug development and commercialization. These forward-looking statements may be accompanied by such words as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “guidance,” “hope,” “intend,” “may,” “objective,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “prospect,” “should,” “target,” “will,” “would,” and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements. Given their forward-looking nature, these statements involve substantial risks and uncertainties that may be based on inaccurate assumptions and could cause actual results to differ materially from those reflected in such statements.

These forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. Given their nature, we cannot assure that any outcome expressed in these forward-looking statements will be realized in whole or in part. We caution that these statements are subject to risks and uncertainties, many of which are outside of our control and could cause future events or results to be materially different from those stated or implied in this document, including, among others, factors relating to: uncertainty of our long-term success in developing, licensing, or acquiring other product candidates or additional indications for existing products; expectations, plans, prospects and timing of actions relating to product approvals, approvals of additional indications for our existing products, sales, pricing, growth, reimbursement and launch of our marketed and pipeline products; the potential impact of increased product competition in the biopharmaceutical and healthcare industry, as well as any other markets in which we compete, including increased competition from new originator therapies, generics, prodrugs and biosimilars of existing products and products approved under abbreviated regulatory pathways; our ability to effectively implement our corporate strategy; difficulties in obtaining and maintaining adequate coverage, pricing, and reimbursement for our products; the drivers for growing our business, including our dependence on collaborators and other third parties for the development, regulatory approval, and commercialization of products and other aspects of our business, which are outside of our full control; risks related to commercialization of biosimilars, which is subject to such risks related to our reliance on third-parties, intellectual property, competitive and market challenges and regulatory compliance; the risk that positive results in a clinical trial may not be replicated in subsequent or confirmatory trials or success in early stage clinical trials may not be predictive of results in later stage or large scale clinical trials or trials in other potential indications; risks associated with clinical trials, including our ability to adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during clinical trials, regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates; and the occurrence of adverse safety events, restrictions on use with our products, or product liability claims; and any other risks and uncertainties that are described in other reports we have filed with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov.

These statements speak only as of the date of this presentation and the discussions during this conference call and are based on information and estimates available to us at this time. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. Investors are cautioned not to put undue reliance on forward-looking statements. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and in our subsequent reports on Form 10-Q. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements whether as a result of any new information, future events, changed circumstances or otherwise.

Biogen Digital Media Disclosure

From time to time, we have used, or expect in the future to use, our investor relations website (investors.biogen.com), the Biogen LinkedIn account (linkedin.com/company/biogen-) and the Biogen X account (https://x.com/biogen) as a means of disclosing information to the public in a broad, non-exclusionary manner, including for purposes of the SEC’s Regulation Fair Disclosure (Reg FD). Accordingly, investors should monitor our investor relations website and these social media channels in addition to our press releases, SEC filings, public conference calls and websites, as the information posted on them could be material to investors.

References:

Pons-Estel GJ, Alarcón GS, Scofield L, et al. Understanding the epidemiology and progression of systemic lupus erythematosus. Semin Arthritis Rheum. 2010;39(4):257-68.
Thanou A, Jupe E, Purushothaman M, et al. Clinical disease activity and flare in SLE: current concepts and novel biomarkers. J Autoimmun. 2021;119:102615. doi:10.1016/j.jaut.2021.102615.
Palmowski A, Pankow A, Terziyska K, et al. Continuing versus tapering low-dose glucocorticoids in patients with rheumatoid arthritis and systemic lupus erythematosus in states of low disease activity or remission: a systematic review and meta-analysis of randomised trials. Semin Arthritis Rheum. 2024;64:152349. doi:10.1016/j.semarthrit.2023.152349.
Fanouriakis A, Kostopoulou M, Alunno A, et al. 2019 update of the EULAR recommendations for the management of systemic lupus erythematosus. Ann Rheum Dis. 2019;78(6):736–45. doi:10.1136/annrheumdis-2019-215089.
Morand EF, Bertsias G, Carter LM, et al. Glucocorticoid-sparing maintenance of disease control in patients with systemic lupus erythematosus: 48-week results from a phase 3 trial of dapirolizumab pegol. Ann Rheum Dis. 2026;85(Suppl 1):POS0730.
Dörner T, Pisetsky DS, Fava A, et al. Dapirolizumab pegol treatment and improvement in laboratory markers of disease activity in patients with systemic lupus erythematosus: 48-week results from a phase 3 trial. Ann Rheum Dis. 2026;85(Suppl 1):POS1364.
Furie RA, Bertsias G, Carter LM, et al. Dapirolizumab pegol and flare reduction in patients with systemic lupus erythematosus in a 48-week phase 3 trial: an updated post hoc analysis of alternative definitions of flares that reflect clinical practice. Ann Rheum Dis. 2026;85(Suppl 1):AB1163.
de la Loge C, Touma Z, Gordon C, et al. Measuring fatigue in systemic lupus erythematosus: measurement properties of the FATIGUE-PRO total score using data from a phase 3 trial of dapirolizumab pegol. Ann Rheum Dis. 2026;85(Suppl 1):AB1184.
Mosca M, Anjohrin S, Rawlings A, et al. Physicians’ perspectives on recognition of flares in patients with systemic lupus erythematosus in the clinic: real world insights from the United States and Europe. Ann Rheum Dis. 2026;85(Suppl 1):AB1125.
Clowse MEB, Isenberg DA, Merrill JT, et al. Efficacy and safety of the CD40 ligand inhibitor dapirolizumab pegol in systemic lupus erythematosus (PHOENYCS GO): a randomised, double-blind, placebo-controlled, phase 3 trial. Lancet. Published online May 29, 2026. doi:10.1016/S0140-6736(26)00691-4.
Furie RA, Bruce IN, Dörner T, et al. Phase 2 randomized, placebo-controlled trial of dapirolizumab pegol in patients with moderate to severe active systemic lupus erythematosus (SLE). Rheumatology (Oxford). 2021;60(11): 5397-407.
ClinicalTrials.gov. NCT04294667. https://clinicaltrials.gov/study/NCT04294667. Accessed May 29, 2026.
ClinicalTrials.gov. NCT06617325. https://clinicaltrials.gov/study/NCT06617325. Accessed May 29, 2026.

MEDIA CONTACT:
UCB
Adriaan Snauwaert
+32 497 70 23 46
[email protected]

CORPORATE COMMUNICATIONS
UCB
Laurent Schots
+32 2 559 92 6
[email protected]

Biogen
Madeleine Shin
+ 1 781 464 3260
[email protected]

INVESTOR CONTACT:
UCB
Yvonne Naughton
+44 175 344 7521
[email protected]

Biogen
Tim Power
+ 1 781 464 2442
[email protected]

June 3, 2026 11:01 pm

Jade Biosciences Announces Pricing of Public Offering of Common Stock

SAN FRANCISCO and VANCOUVER, British Columbia, June 03, 2026 (GLOBE NEWSWIRE) — Jade Biosciences, Inc. (“Jade” or the “Company”) (Nasdaq: JBIO), a clinical-stage biotechnology company focused on developing best-in-class therapies for autoimmune diseases, today announced the pricing of a public offering of 10,000,000 shares of its common stock. The shares of common stock are being sold to the public at a price of $15.00 per share. The gross proceeds to Jade from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be $150.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on June 5, 2026, subject to the satisfaction of customary closing conditions. In addition, Jade has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares of common stock to be sold in the public offering are being sold by Jade.

Jade intends to use the net proceeds from this offering, together with its existing cash, cash equivalents, and investments, to fund clinical trials, preclinical studies, and manufacturing in support of its programs, as well as for additional research and development activities, capital expenditures, working capital and other general corporate purposes.

Jefferies, TD Cowen and UBS Investment Bank are acting as joint book-running managers for the offering. LifeSci Capital is acting as passive book-running manager for the offering. BTIG is acting as a lead manager for the offering.

The securities described above are being offered by Jade pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed with the Securities and Exchange Commission (“SEC”) and was declared effective on May 15, 2026. A preliminary prospectus supplement and accompanying prospectus relating to this offering has been filed with the SEC and a final prospectus supplement and accompanying prospectus relating to this offering will be filed with the SEC. The offering may be made only by means of a prospectus supplement and accompanying prospectus. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at [email protected]; TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected]; and UBS Securities LLC, Attention: Prospectus Department, 11 Madison Avenue, New York, NY 10010, or by email at [email protected]. Electronic copies of the final prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov.

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

About Jade Biosciences, Inc.

Jade Biosciences is a clinical-stage biotechnology company focused on developing best-in-class therapies that address critical unmet needs in autoimmune diseases. Jade’s lead candidate, JADE101, targets the cytokine APRIL, and is currently being evaluated for the treatment of immunoglobulin A nephropathy. Jade’s pipeline also includes JADE201, an afucosylated anti-BAFF-R monoclonal antibody, as well as JADE301, an undisclosed antibody program. Jade was launched based on assets licensed from Paragon Therapeutics, an antibody discovery engine founded by Fairmount.

Forward Looking Statements

Certain statements in this communication, other than purely historical information, may constitute “forward-looking statements” within the meaning of the federal securities laws, including for purposes of the “safe harbor” provisions under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, our expectations regarding the expected closing of the offering and the anticipated use of net proceeds therefrom. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Jade’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the offering, as well as the other risks, uncertainties and factors more fully described in Jade’s most recent filings with the Securities and Exchange Commission (including the Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 and its subsequent filings). Should one or more of these risks or uncertainties materialize, or should any of Jade’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Jade does not undertake or accept any duty to release publicly any updates or revisions to any forward-looking statements, except as required by law. This communication does not purport to summarize all of the conditions, risks and other attributes of an investment in Jade.

Jade Biosciences Contact

Priyanka Shah
[email protected]
[email protected]
908-447-6134

June 3, 2026 10:55 pm

Sunshine Silver Mining & Refining Announces Pricing of Initial Public Offering

PR Newswire

KELLOGG, Idaho, June 3, 2026 /PRNewswire/ — Sunshine Silver Mining & Refining Company (the “Company” or “Sunshine”) today announced the pricing of its initial public offering (“IPO”) of 20,000,000 shares of its common stock at a public offering price of $13.50 per share. In connection with the offering, Sunshine has granted the underwriters a 30-day option to purchase an additional 3,000,000 shares of its common stock at the IPO offering price, less underwriting discounts and commissions.

SSMR Logo

Sunshine’s common stock is expected to begin trading on the New York Stock Exchange on June 4, 2026, under the ticker symbol “SSMR.” The offering is expected to close on June 5, 2026, subject to customary closing conditions.

Morgan Stanley, Scotiabank and BMO Capital Markets are acting as joint lead book-running managers for the proposed offering. Canaccord Genuity, Citigroup and RBC Capital Markets are acting as joint bookrunners.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the proposed offering may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; Scotia Capital (USA) Inc., 250 Vesey Street, 24th Floor, New York, NY 10281, Attention: Equity Capital Markets, or by telephone at (212) 255-6854, or by email at [email protected]; and BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, or by email at [email protected].

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 Sunshine Silver Mining & Refining Company

The Company is dedicated to bringing the historic, permitted Sunshine Mine back into production. As the largest mineral rights holder in Idaho’s Coeur d’Alene Mining District – the most prolific silver district in U.S. history – Sunshine benefits from favorable mining regulations, an existing skilled labor force, mine suppliers and strong support for mining from the local population and government. The Sunshine Mine is one of the highest-grade primary silver resources in the world, and the Company is one of the few U.S.-based entities with a vertically integrated mine-to-mill-to-refinery platform, supported by a permitted onsite silver refinery and the major permits required for antimony production.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the Company’s business strategy, the Company’s plans and objectives for future operations and industry trends. These statements are not historical facts but rather are based on the Company’s current expectations and projections regarding its business, operations and other factors relating thereto. Words such as “may,” “might,” “could,” “would,” “achieve,” “budget,” “scheduled,” “forecasts,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” and similar expressions are used to identify these forward-looking statements. All forward-looking statements speak only as of the date on which they are made. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions concerning future events that are difficult to predict. Therefore, actual future events or results may differ materially from these statements. We caution you not to place undue reliance on these forward-looking statements.

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SOURCE Sunshine Silver Mining & Refining