Market Newsdesk

MCLEAN, Va., March 25, 2025 (GLOBE NEWSWIRE) — Cycurion (Nasdaq: CYCU) (“Cycurion” or the “Company”), a trusted leader in IT cybersecurity solutions and AI, is proud to announce the launch of its new Managed Security Services Platform (MSSP), Cyber Shield™.

Kevin Kelly, Cycurion CEO stated, “Cyber Shield is the result of an extensive research and development process that optimizes our leading threat discovery and cybersecurity tools. The resulting best-in-class suite offers our customers a proven, all-encompassing solution to their security challenges. Cyber Shield is the optimal solution to address rapidly evolving security compliance requirements, significant increases in major data breaches and loss severity, and a lack of awareness of existing threats and vulnerabilities.”  

Cycurion’s Cyber Shield package includes the following capabilities and services:

• SOC as a Service: 24/7/365 security monitoring, Managed Detection and Response (MDR), Endpoint Detection and Response (EDR), and Threat and Vulnerability Management
• External Attack Surface Management (EASM): Identifying and managing vulnerabilities exposed to the external environment
• Cybersecurity Awareness and Training: Empowering employees with the knowledge to recognize and respond to threats
• Web Application Firewall: Utilizing the ARx Security Platform with AI for advanced protection, including integration with Cycurion’s SOC as a Service, C-Suite Dashboard, API protection, geo-gating, intelligent bot-mitigation, and AI enhancements
• Virtual CISO Support and Consulting: Expert advisory services tailored to meet the unique needs of diverse industries

“Many key industries, including healthcare, financial services, education, public safety, and state & local governments continue to face a severe shortage of trained and certified cybersecurity experts. Moreover, most businesses lack a full understanding of cybersecurity needs with limited funding, little protected IT infrastructure, and few policies in place to execute on these challenges. We believe that Cyber Shield is an integrated tool that provides the solution to many of these dilemmas,” concluded Mr. Kelly.

Cyber Shield is a competitive offering, designed for businesses of all sizes, including non-profits and associations. Please contact Cycurion to arrange for a demonstration of this next-generation, leading MSPP.

About Cycurion

Based in McLean, Virginia, Cycurion (NASDAQ: CYCU) is a forward-thinking provider of IT cybersecurity solutions and AI, committed to delivering secure, reliable, and innovative services to clients worldwide. Specializing in cybersecurity, program management, and business continuity, Cycurion harnesses its AI-enhanced ARx platform and expert team to empower clients and safeguard their operations. Along with its subsidiaries, Axxum Technologies, Cloudburst Security, and Cycurion Innovation, Inc., Cycurion serves government, healthcare, and corporate clients with a commitment to securing the digital future.

Forward-Looking Statements

This letter to our stockholders and press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the operations and prospective growth of Cycurion’s business. 

Many factors could cause Cycurion’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements described in this press release, including words such as “continue”, “expect”, “intend”, “will”, “hope”, “should”, “would”, “may”, “potential”, and other similar expressions. Such factors could include, among others, those detailed in its Registration Statement on Form S-4, as filed with the Securities and Exchange Commission (the “SEC”). Should one or more of these risks or uncertainties materialize, or should the assumptions set out in the section entitled “Risk Factors” in that filing with the SEC underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this press release and Cycurion does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. Cycurion cannot assure that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Individuals are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

Investor Contact:

CORE IR
[email protected]

Media Contact:

Phone: (703) 555-0123
Email: [email protected]

• Target Indications Also Include Peeling Skin Syndrome, SAM Syndrome, Palmoplantar Keratoderma and Severe Atopic Dermatitis
• Third Quoin Patent Application for Netherton Syndrome
• If Granted Company Would have Patent Protection for QRX003 for Netherton Syndrome Until 2045
  

ASHBURN, Va., March 25, 2025 (GLOBE NEWSWIRE) — Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) (the “Company” or “Quoin”), a late-stage clinical, specialty pharmaceutical company focused on the development and commercialization of therapeutic products that treat rare and orphan diseases, today announced it has filed a U.S. patent application for novel topical formulations to treat a number of skin diseases, including Netherton Syndrome (NS). Quoin’s lead product, QRX003, is currently being tested in four Netherton Syndrome clinical trials. Three of these trials are being conducted under Quoin’s open Investigational New Drug (IND) application with the US Food and Drug Administration (FDA). QRX003 is also currently being tested in a pediatric NS patient at the Children’s Hospital in Dublin, Ireland and the Company intends to expand this study to include additional children with NS in Spain, the United Kingdom and potentially other countries. The Company has recently reported positive initial clinical data from the two open label studies for which data is available. This patent application also includes Peeling Skin Syndrome for which Quoin has an ongoing Investigator Clinical Study in a pediatric patient in New Zealand. There are currently no FDA approved treatments for either Netherton Syndrome or Peeling Skin Syndrome.

“While we are fully focused on completing clinical testing for QRX003 in NS, we are also taking multiple steps to ensure that we have the broadest and most extensive patent protection around the product for this disease as well for other rare skin disease applications that we are pursuing or intend to pursue. If granted, this application would provide broad patent protection for our product until 2045.” said Dr. Michael Myers, Chief Executive Officer of Quoin.

Quoin is currently enrolling patients in three clinical trials being conducted under its open Investigational New Drug (IND) application, evaluating its QRX003 topical lotion as a potential treatment for Netherton Syndrome as well as in an Investigator led pediatric study. To date, Quoin remains the only company actively recruiting and testing subjects in multiple NS clinical trials that are being conducted under an open IND.

To find out more about Quoin’s clinical studies relating to Netherton Syndrome, please visit http://www.nethertonsyndromeclinicaltrials.com/.

About Quoin Pharmaceuticals Ltd.

Quoin Pharmaceuticals Ltd. is a clinical-stage specialty pharmaceutical company focused on developing and commercializing therapeutic products that treat rare and orphan diseases. We are committed to addressing unmet medical needs for patients, their families, communities and care teams. Quoin’s innovative pipeline comprises five products in development that collectively have the potential to target a broad number of rare and orphan indications, including Netherton Syndrome, Peeling Skin Syndrome, SAM Syndrome, Palmoplantar Keratoderma, Scleroderma, Epidermolysis Bullosa, Microcystic Lymphatic Malformations, Venous Malformations, Angiofibroma and others. For more information, go to: www.quoinpharma.com.

Cautionary Note Regarding Forward Looking Statements

The Company cautions that statements in this press release that are not descriptions of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “hope,” “plan,” “potential,” “anticipate,” “look forward,” “believe,” “may,” and “will,” among others. All statements that reflect the Company’s expectations, assumptions, projections, beliefs, or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements relating to: the Company obtaining patent protection for its Netherton Syndrome product until 2045; QRX003 having the potential to become the first approved treatment for Netherton Syndrome; the potential efficacy of QRX003 as a treatment for Netherton Syndrome; the progress or success of Quoin’s ongoing clinical trials; and Quoin’s products in development collectively having the potential to target a broad number of rare and orphan indications, including Netherton Syndrome, Peeling Skin Syndrome, SAM Syndrome, Palmoplantar Keratoderma, Scleroderma, Epidermolysis Bullosa Microcystic Lymphatic Malformations, Venous Malformations, Angiofibroma and others. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties including, but not limited to, the Company’s ability to protect its assets with the new patent applications; the Company’s ability to obtain regulatory approvals for the commercialization of its product candidates or to comply with ongoing regulatory requirements; the Company’s ability to deliver a safe and effective treatment for Netherton Syndrome; the Company may be unable to submit applications and initiate clinical development as and when planned; and other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and in other filings the Company has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.

For further information, contact:

Quoin Pharmaceuticals Ltd.
Michael Myers, Ph.D., CEO
[email protected]

Investor Relations
PCG Advisory
Jeff Ramson
[email protected]
(646) 863-6341

NDV-01 is a novel, sustained-release, intravesical gemcitabine/docetaxel, ready-for-use product candidate for the treatment of non-muscle invasive bladder cancer (NMIBC, U.S. prevalence of ~600,000 patients, with ~62,000 newly diagnosed patients annually)

Topline efficacy and safety Phase 2 data expected to be reported at the American Urological Association meeting (AUA), being held April 26-29, 2025 in Las Vegas

NDV-01 has the potential to be a first-line therapy for NMIBC,

presenting attractive clinical benefits for clinicians and patients

CORAL GABLES, Fla., March 25, 2025 (GLOBE NEWSWIRE) — Relmada Therapeutics, Inc. (Nasdaq: RLMD, “Relmada”, or “the Company”), a clinical-stage biotechnology company committed to advancing innovative breakthrough therapies, today announced the completion of an exclusive licensing agreement with Trigone Pharma, Ltd. (Trigone) for NDV-01, a novel sustained-release intravesical formulation of gemcitabine and docetaxel (gem/doce) for the treatment of Non-Muscle Invasive Bladder Cancer (NMIBC). The efficacy and safety of the NDV-01 are being evaluated in a Phase 2 study. First data are expected to be reported at the American Urological Association meeting (AUA), being held April 26-29, 2025 in Las Vegas.

“We are delighted to add NDV-01 to our pipeline as we believe it represents an exceptional value-creation opportunity for Relmada and our investors. The drug development expertise of our Team provides flexibility to be opportunistic and consider programs that have the potential to be high-value assets and that can demonstrate proof-of-concept in the near-term, regardless of therapeutic area. NDV-01 is an excellent fit with that profile,” said Sergio Traversa, CEO of Relmada Therapeutics.

“We believe Trigone’s novel intravesicular sustained-release formulation could enable NDV-01 to be a first-line therapy for non-muscle invasive bladder cancer, supported by several differentiators including robust published clinical evidence with the gem/doce combination, NDV-01’s good safety profile, easy dosing procedure, and superior drug delivery profile. Together, we believe these features could enable both inpatient and outpatient clinic use, sustained delivery out to 10 days, versus hours for conventional gem-doce delivery, and lead to NDV-01’s rapid and broad adoption,” continued Dr. Traversa.

Maged Shenouda, CFO of Relmada added, “We believe NDV-01 is an excellent strategic complement to our recently acquired asset, sepranolone, a unique, Phase 2b-ready neurosteroid with potential applications in the treatment of compulsion-related disorders. The addition of both NDV-01 and sepranolone to our development portfolio achieves our principal objectives of diversifying our pipeline while balancing its risk and upside potential. Our goal is to bring both programs to patients as soon as possible.”  

“There is a significant unmet need for effective treatments for patients with non-muscle invasive bladder cancer who don’t respond to BCG¹ therapy,” said Yair Lotan, MD, Professor of Urology, and Chief of Urologic Oncology at UT Southwestern Medical Center at Dallas, Texas. “Based on multiple clinical studies, the combination of gemcitabine and docetaxel has shown impressive efficacy with a manageable safety profile.”

“What makes NDV-01 particularly promising is its sustained-release formulation, securing prolonged dwell time and extensive treatment exposure to bladder tumors and enhancing anti-cancer effects. This innovative approach has the potential not only to improve treatment effectiveness but also to improve patient compliance by offering a convenient in-office treatment alternative to current hospital-based therapies, significantly reducing the burden on patients and healthcare systems,” said Dan Touitou, B Pharm, MBA, CEO of Trigone.

1. BCG = Bacillus Calmette-Guerin
   

About the Clinical Program for NDV-01

NDV-01 is currently being evaluated in a Phase 2, Single-Arm Study (NCT06663137) to assess safety and efficacy in patients with high-grade non-muscle invasive bladder cancer (HG-NMIBC). The study was designed to enroll up to 70 subjects with localized, non-metastatic, HG-NMIBC (ECOG score of 2 of less).

Topline data from the first 20 patients in the study are expected to be presented at the American Urological Association meeting (AUA), being held April 26-29, 2025 in Las Vegas.

Strategic Outlook

Relmada continues to evaluate additional strategic product opportunities to leverage the extensive development capability that the Company has built over the past several years. Relmada anticipates hosting an investor update on NDV-01’s next development steps later in 2025.

About the NDV-01 License Agreement

Under the terms of the agreement, Relmada will make a $3.5 million upfront payment and issue 3,017,420 shares of our common stock, which represent 10% of Relmada’s outstanding shares, for exclusive worldwide rights to NDV-01, excluding Israel, India and South Africa. (The shares will be locked up for 12 months unless we agree otherwise.) In addition, Relmada will pay up to $200 million in development, regulatory and sales milestones pending successful commercialization. Relmada will also pay a royalty of 3% on any net sales. Following the completion of the ongoing Phase 2 study, Relmada will assume responsibility for NDV-01’s development, manufacturing and commercialization.  

About NDV-01

NDV-01 is an investigational, innovative sustained-release formulation of two complementary, well-established, chemotherapy agents, gemcitabine and docetaxel (gem/doce). It is designed for intravesical dosing and intended to be an in-office ready-to-use therapy that is administered rapidly and requires no anesthesia or new or dedicated equipment to employ. NDV-01 forms a spherical soft matrix within the bladder that sequesters drug and releases it as the matrix gradually dissolves.

NDV-01’s formulation is specifically designed to maximize local drug concentration and prolong exposure to gem/doce, while minimizing systemic toxicity. Unlike conventional intravesical instillations, NDV-01 is designed to avoid peaks and troughs in drug concentration, ensuring a gradual and sustained release of gem/doce over a 10-day period. This approach may potentially improve overall efficacy, reduce side effects, reduce the frequency of dosing and improve patient compliance and outcomes. NDV-01 has the potential to be a first line (1L) therapy for HG-NMIBC, with further potential for use in patients who have failed other therapies, including BCG immunotherapy, and expansion into other NMIBC subtypes, including intermediate-grade disease.

NDV-01 is protected by several patents related to methods of treatment and formulation whose terms go out to 2038.

About Gem/Doce in HG-NMIBC

Gemcitabine and docetaxel (Gem/Doce) therapy in HG-NMIBC has been widely adopted in clinical practice. The highest efficacy has been demonstrated in sequential intravesical treatment (Kates et al., 2020). A literature review suggests that there have been no major side effects reported in published studies or real-world experience. The combination has not been approved by the FDA or EMA.

A Large and Growing Market for NMIBC Therapies

More than 90% of the approximately 83,000 new U.S. cases of urothelial cancer are estimated to be bladder cancer. For the overall bladder cancer population, 5-year survival ranges from 70 to 96% of patients, moving to 6% for patients with advanced disease. Roughly 75% of bladder cancer cases are classified as non-muscle invasive (NMIBC) and approximately 50% of cases are classified as high-grade disease, considered to have increased risk of progression and recurrence. Sources indicate that NMIBC has a 50-75% recurrence rate (over seven years) and that the U.S. prevalence of NMIBC is approximately 450,000 patients.

The US NMIBC market is estimated to be a multi-billion opportunity. Global numbers are higher, in line with projections for significant growth due to the increasing incidence of bladder cancer and the demand for effective, minimally invasive potential therapies like NDV-01. Approved treatment options remain limited (mainly the immunotherapy, BCG, which has been supply constrained for some time), with high recurrence rates leading to frequent re-treatment and progression. Other emerging programs include immunotherapy combinations, single agent chemotherapy formulations and targeted therapies. NDV-01 stands out based on the large body of published data that support the efficacy of treatment with gemcitabine and docetaxel, its ease of administration and potential for durability of action. Expansion beyond first-line treatment into use as a salvage treatment or in other subgroups of NMIBC, including naïve patients, could further increase the opportunity for NDV-01.

About Trigone Pharma Ltd.

Trigone Pharma Ltd. is a privately-held specialty pharmaceutical company focused on the development of a proprietary sustained-release platform designed to enhance the efficacy and safety of established therapeutic agents for urologic diseases into the urinary bladder with clear unmet medical needs.

For more information, please visit https://trigonepharma.com/

About Relmada Therapeutics, Inc.

Relmada Therapeutics is a clinical-stage biotechnology company committed to advancing innovative breakthrough therapies that have the potential to bring meaningful clinical benefits to targeted patient populations.

Lead investigational program, NDV-01, for High-Grade Non-Muscle Invasive Bladder Cancer, is being evaluated in a Phase 2 study. In addition, preparations are underway to advance sepranolone, a Phase 2b-ready investigational program for compulsion-related disorders including Tourette’s Syndrome, into further studies.

For more information, visit www.relmada.com.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by us or on our behalf. This press release contains statements which constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as “if”, “may”, “expects”, “anticipates”, “believes”, “will”, “will likely result”, “will continue”, “plans to”, “potential”, “promising”, and similar expressions. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including potential for Phase 2 data to be presented at an upcoming medical conference, potential for Phase 2 data to deliver positive results supporting further development, potential for clinical trials to deliver statistically and/or clinically significant evidence of efficacy and/or safety, failure of top-line results to accurately reflect the complete results of the trial, failure of planned or ongoing preclinical and clinical studies to demonstrate expected results, potential failure to secure FDA agreement on the regulatory path for NDV-01 or that future NDV-01 clinical results will be acceptable to the FDA, failure to secure adequate NDV-01 drug supply and the other risk factors described under the heading “Risk Factors” set forth in the Company’s reports filed with the SEC from time to time. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Relmada undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results and that the risks described herein should not be a complete list.

Investor Contact:

Brian Ritchie
LifeSci Advisors
[email protected]

Media Inquiries:

Corporate Communications
[email protected]

LOUISVILLE, Ky., March 25, 2025 (GLOBE NEWSWIRE) — Creative Realities, Inc. (“Creative Realities,” “CRI,” or the “Company”) (NASDAQ: CREX), a leading provider of digital signage and media solutions, is pleased to announce the successful completion of its Systems and Organizations Controls (SOC) 2 Type 1 audit. This audit achieved compliance with the leading industry standards for customer data security. This report shows CRI’s ongoing commitment to providing our customers with secure and reliable SaaS products.

“This is a significant achievement for our company and our customers. To reach this point, CRI has matured and grown as an organization, improving everything we do. We’ve enhanced our software and cloud infrastructure to make them more secure and highly available. These changes ensure we stay compliant with best practices and provide great products for our clients,” said Bart Massey, Executive Vice President of Software Development at CRI.

Developed by the American Institute of Certified Public Accountants (AICPA), a SOC 2 information security standard is a report that validates controls relevant to security, availability, integrity, confidentiality, and privacy. The audit was completed with the help of Johanson Group LLP, a premier certification body that helps organizations obtain and maintain global compliance standards. Ensuring that all parts of CRI’s applications and business processes were compliant with SOC 2 requirements took around nine months.

“Partnering with Johanson Group LLP has brought in a third-party auditor to validate our policies and ensure we follow best practices. We take our commitment to SOC II principles seriously, and with the completion of this report, we have a qualified independent auditor who confirms it,” Massey added.

SOC 2 has a rigorous requirement on how companies handle customer data and information, so compliance guarantees that established and implemented organizational practices are in place to safeguard customer data. CRI’s case involves its software products and all the administrative functions needed to support them.

CRI is actively working to complete Type 2 compliance. Type 1 focuses on evaluating processes, infrastructure and policies. Type 2 provides independent verification that the company’s ongoing operations continue to follow the practices and principles specified and required by Type 1.

More information on Creative Realities’ SOC 2 Type 1 compliance process will be available soon on cri.com.

About Creative Realities, Inc.

Creative Realities designs, develops and deploys digital signage-based experiences for enterprise-level networks utilizing its Clarity™, ReflectView™, and iShowroom™ Content Management System (CMS) platforms. The Company is actively providing recurring SaaS and support services across diverse vertical markets, including but not limited to retail, automotive, digital-out-of-home (DOOH) advertising networks, convenience stores, foodservice/QSR, gaming, theater, and stadium venues. In addition, the Company assists clients in utilizing place-based digital media to achieve business objectives such as increased revenue, enhanced customer experiences, and improved productivity. This includes the design, deployment, and day to day management of Retail Media Networks to monetize on-premise foot traffic utilizing its AdLogic™ and AdLogic CPM+™ programmatic advertising platforms.

Contacts

Media Inquiries

Breanne Ngo
[email protected]

Investor Relations

Chris Witty
[email protected] 
646-438-9385
[email protected]
https://investors.cri.com/ 

OTTAWA, Ontario and DHAKA, Bangladesh, March 25, 2025 (GLOBE NEWSWIRE) — Telesat (NASDAQ and TSX: TSAT), one of the world’s largest and most innovative satellite operators, and ADN Telecom Limited (DSE & CSE: ADNTEL), a leading telecommunications company, providing the latest digital communications and satellite services in Bangladesh, signed and jointly announced today a multi-year partnership to deliver Telesat Lightspeed low earth orbit (LEO) connectivity solutions across Bangladesh and South Asia.

Leveraging over 55 years of satellite operations and engineering excellence, Telesat designed its state-of-the-art LEO network to meet the resilient, mission-critical connectivity requirements of telecom, enterprise and government customers. The fully funded Telesat Lightspeed constellation is well underway, with the first satellite launches beginning in the second half of next year.

Through this partnership, Telesat will provide Telesat Lightspeed services and a Smart Virtual Network Operator (VNO) capability for ADN Telecom to manage and deliver innovative, customized connectivity solutions for their enterprise, maritime and government customers. ADN Telecom will participate in early field trial testing of Telesat Lightspeed services and commence full-time services in late 2027 with industry-leading committed information rates and guaranteed SLAs.

“We are honored to be selected by ADN Telecom to provide multi-Gbps connectivity and unique service advantages to enhance their operations and drive profitable, long-term growth,” said Glenn Katz, Telesat’s Chief Commercial Officer. “Our MEF 3.0 standards-based LEO services will be seamlessly integrated with ADN’s terrestrial network to expand the reach of their offerings in Bangladesh and internationally.”

“Integrating the highly advanced Telesat Lightspeed enterprise-class LEO network capabilities into our leading service offerings is another example of our commitment to delivering innovative technologies to help our customers thrive,” stated Asif Mahmood, Chairman of ADN Telecom Limited. “After a thorough review of next-generation satellite technologies, we believe the Telesat Lightspeed services will provide the most flexible, secure and resilient architecture to power our future offerings.”

Telesat and ADN Telecom will work collaboratively to secure local regulatory approvals for Telesat Lightspeed services in the country.

About Telesat

Backed by a legacy of engineering excellence, reliability and industry-leading customer service, Telesat (NASDAQ and TSX: TSAT) is one of the largest and most innovative global satellite operators. Telesat works collaboratively with its customers to deliver critical connectivity solutions that tackle the world’s most complex communications challenges, providing powerful advantages that improve their operations and drive profitable growth.

Continuously innovating to meet the connectivity demands of the future, Telesat Lightspeed, the company’s state-of-the-art Low Earth Orbit (LEO) satellite network, has been optimized to meet the rigorous requirements of telecom, government, maritime and aeronautical customers. Telesat Lightspeed will redefine global satellite connectivity with ubiquitous, affordable, high-capacity, secure and resilient links with fibre-like speeds. For updates on Telesat, follow us on LinkedIn, X, or visit www.telesat.com.

About ADN Telecom Limited

ADN Telecom Limited (DSE & CSE: ADNTEL), the flagship entity of ADN Group, is a pioneer in advanced telecommunications services and satellite communication in Bangladesh. ADN Telecom’s advanced infrastructure and forward-thinking technology solutions are crafted to meet the complex demands of local and international markets, with consistently connecting people and businesses through dependable and cutting-edge next-generation enterprise-class digital services and solutions.

With over 23 years of experience in innovative Telecom services , ADN Telecom serves a broad spectrum of industries and enterprises, including government agencies, defense entities, and the financial sectors. Renowned for its excellence in satellite communications and other digital solutions, the company is instrumental in developing latest digital network infrastructure delivering critical communication solutions, even in challenging terrains and during national emergencies. To learn more and stay updated on ADN Telecom, please follow us on LinkedIn, or visit https://adntel.com.bd/.

Media Contacts:

W2 Communications for Telesat
[email protected]

Tanvir Hafiz for ADN Telecom
[email protected]

Forward-Looking Statements Safe Harbor

This news release contains statements that are not based on historical fact and are “forward-looking statements’’ within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws. When used herein, statements which are not historical in nature, or which contain the words “will,” “ensures” or similar expressions, are forward-looking statements. Actual results may differ materially from the expectations expressed or implied in the forward-looking statements as a result of known and unknown risks and uncertainties. All statements made in this press release are made only as of the date set forth at the beginning of this release. Telesat Corporation undertakes no obligation to update the information made in this release in the event facts or circumstances subsequently change after the date of this press release.

These forward-looking statements are based on Telesat Corporation’s current expectations and are subject to a number of risks, uncertainties and assumptions. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond Telesat Corporation’s control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. There are numerous risks and uncertainties associated with Telesat’s business and the Telesat Lightspeed constellation. Known risks and uncertainties include but are not limited to: inflation and rising interest rates; Telesat’s ability to meet the funding conditions of its funding agreements with the Government of Canada and Government of Quebec; technological hurdles, including our and our contractors’ development and deployment of the new technologies required to complete the constellation in time to meet our schedule, or at all; the availability of services and components from our and our contractors’ supply chains; competition; risks associated with domestic and foreign government regulation, including access to sufficient orbital spectrum to be able to deliver services effectively and access to sufficient geographic markets in which to sell those services; Telesat’s ability to develop significant commercial and operational capabilities; risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures or impaired satellite performance; and volatility in exchange rates. The foregoing list of important factors is not exhaustive. Investors should review the other risk factors discussed in Telesat Corporation’s annual report on Form 20-F for the year ended December 31, 2023, that was filed on March 28, 2024, with the United States Securities and Exchange Commission (“SEC”) and the Canadian securities regulatory authorities at the System for Electronic Document Analysis and Retrieval (“SEDAR”), and may be accessed on the SEC’s website at https://www.sec.gov/ and SEDAR’s website at https://www.sedarplus.ca/ as well as our subsequent reports on Form 6-K filed with the SEC and also available on SEDAR.

‒ Q4 2024 Net Revenue of $31.2mm; 2024 Net Revenue of $43.5mm ‒

‒ Q4 Net Income of $13.5mm and Adjusted EBITDA of $15.3mm ‒

‒ Conference Call Scheduled for Today at 8:30 a.m. Eastern Time ‒

BERKELEY HEIGHTS, N.J., March 25, 2025 (GLOBE NEWSWIRE) — CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions, today announced financial results for the fourth quarter and full year ended December 31, 2024 and provided an update on its business.

Recent Corporate Highlights:

• CorMedix today reports its second full quarter of DefenCath sales since commencing outpatient launch in July 2024 and first partial year of DefenCath sales. The Company reported net sales of $31.2 million for the fourth quarter and $43.5 million for full year 2024, largely driven by successful implementation by its outpatient dialysis customers.
• The Company’s fourth quarter of 2024 was the first profitable commercial quarter in CorMedix history, with net income of $13.5 million and adjusted EBITDA of $15.3 million.
• The Company previously announced a partnership with Syneos Health to build a dedicated inpatient sales team. The staffing of this team is nearly complete and the Company expects the team to initiate activity in the early part of the second quarter. CorMedix has started to see increased DefenCath utilization at a number of larger hospitals and anticipates further inpatient growth throughout 2025 as the new field team commences activity.
• CorMedix previously announced a partnership with WSI to provide marketing and promotional support for DefenCath to VA facilities and this team has commenced activities in the first quarter.
• CorMedix began identifying investigator sites for its Phase 3 study of DefenCath in patients receiving Total Parenteral Nutrition, or TPN, and expects patient enrollment to commence in the second quarter of 2025. In addition, the Company recently submitted an application for Orphan Drug Status for this indication to the FDA.
• CorMedix is announcing preliminary net revenue guidance for first half of 2025 of $50 – $60 million, based on the run rate of current purchasing customers, with more than $33 million expected in first quarter. In addition, the Company reiterates its previously announced cash operating expense guidance for 2025 of $72 – $78 million.
• Cash and short-term investments, excluding restricted cash, at December 31, 2024 amounted to $51.7 million. The Company currently anticipates ending first quarter of 2025 with more than $75 million in cash and short-term investments.

Joe Todisco, CorMedix CEO, commented, “I am proud of the Company’s recent progress as we execute on our launch objectives and increase patient access to DefenCath across settings of care. We have seen continued growth from existing customers throughout the first quarter and we are focused on growing our patient base in 2025 with both existing and new accounts.”

4

^th

Quarter and Full Year 2024 Financial Highlights

For the fourth quarter of 2024, CorMedix recorded $31.2 million in net revenue from sales of DefenCath, and recorded net income of $13.5 million, or $0.22 per share, compared with a net loss of $14.8 million, or $0.26 per share, in the fourth quarter of 2023. The net income was driven primarily by the launch of DefenCath and net sales in the period.

Operating expenses in the fourth quarter 2024 were $17.1 million, compared with $15.7 million in the fourth quarter of 2023, an increase of approximately 9%.  The increase was driven primarily by higher general and administrative (G&A) expenses, which increased approximately 36% and to a lesser extent by an increase in selling and marketing (S&M), which increased approximately 1%. These increases were partially offset by a decrease in research and development (R&D) expenses of approximately 26%. The increases in S&M and G&A were primarily driven by new personnel hired in late 2023 or throughout 2024, inclusive of our sales force and support for the commercial launch of DefenCath during 2024. Additionally, as a result of the transition to commercial operations, certain medical affairs, other personnel and consulting expenses previously classified in R&D are included in G&A expense in 2024.

For the year ended December 31, 2024, CorMedix recorded $43.5 million in net revenue from sales of DefenCath, and recorded a net loss of $17.9 million, or $0.30 per share, compared with a net loss during the year ended December 31, 2023 of $46.3 million, or $0.91 per share. The decrease in net loss was driven primarily by DefenCath net revenue, offset by an increase in operating expenses, primarily due to increased commercial activities for DefenCath.

Operating expenses during the year ended December 31, 2024 amounted to $62.6 million compared with $49.0 million during 2023, an increase of $13.6 million, or 28%. The increase was primarily due to costs related to marketing and commercial activities in support of the launch of DefenCath, partially offset by a decrease in R&D expenses, attributable to the marketing approval of DefenCath.

Total cash on hand, cash equivalents and short-term investments as of December 31, 2024 amounted to $51.7 million, excluding restricted cash of $0.1 million. The Company believes that it has sufficient resources to fund operations for at least twelve months from the filing of its Annual Report on Form 10-K.

Conference Call Information

The management team of CorMedix will host a conference call and webcast today, March 25, 2025, at 8:30AM Eastern Time, to discuss recent corporate developments and financial results. Call details and dial-in information are as follows:

About CorMedix
CorMedix Inc. is a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of life-threatening conditions and diseases. The Company is focused on commercializing its lead product DefenCath^® (taurolidine and heparin) which was approved by the FDA on November 15, 2023. CorMedix commercially launched DefenCath in inpatient settings in April 2024 and in outpatient settings in July 2024. CorMedix is commencing clinical studies in adult Total Parenteral Nutrition (TPN) patients and pediatric hemodialysis (HD) patient populations in 2025 and also intends to develop DefenCath as a catheter lock solution for use in other therapeutic areas. For more information visit: www.cormedix.com.

Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to risks and uncertainties. Forward-looking statements are often identified by the use of words such as, but not limited to, “anticipate,” “believe,” “can,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “will,” “plan,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions or variations intended to identify forward-looking statements. All statements, other than statements of historical facts, regarding management’s expectations, beliefs, goals, plans or CorMedix’s prospects should be considered forward-looking statements. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, and readers are directed to the Risk Factors identified in CorMedix’s filings with the SEC, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from CorMedix. CorMedix may not actually achieve the goals or plans described in its forward-looking statements, and such forward-looking statements speak only as of the date of this press release. Investors should not place undue reliance on these statements. CorMedix assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

Non-GAAP Financial Measures

This release includes certain non-GAAP financial measures, including EBITDA and adjusted EBITDA, which are intended as supplemental measures of the Company’s performance that are not required by or presented in accordance with GAAP. Management uses these non-GAAP measures internally to evaluate and manage the Company’s operations and to better understand its business because they facilitate a comparative assessment of the Company’s operating performance relative to its performance based on results calculated under GAAP. These non-GAAP measures also isolate the effects of some items that vary from period to period without any correlation to core operating performance and eliminate certain charges that management believes do not reflect the Company’s operations and underlying operational performance.

The Company believes that these non-GAAP measures also provide useful information to investors regarding certain financial and business trends relating to the Company’s financial condition and operating results and facilitate an evaluation of the financial performance of the Company and its operations on a consistent basis. Providing this information therefore allows investors to make independent assessments of the Company’s financial performance, results of operations and trends while viewing the information through the eyes of management.

These non-GAAP measures are subject to limitations. The non-GAAP measures presented in this release may not be comparable to similarly titled measures used by other companies because other companies may not calculate one or more in the same manner. Additionally, the non-GAAP performance measures exclude significant expenses and income that are required by GAAP to be recorded in the Company’s financial statements; do not reflect changes in, or cash requirements for, working capital needs. Further, our historical adjusted results are not intended to project our adjusted results of operations or financial position for any future period. To compensate for these limitations, management presents and considers these non-GAAP measures in conjunction with the Company’s GAAP results; no non-GAAP measure should be considered in isolation from or as alternatives to any measure determined in accordance with GAAP. Readers should review the reconciliations included below, and should not rely on any single financial measure to evaluate the Company’s business.

Investor Contact:

Dan Ferry
Managing Director
LifeSci Advisors
[email protected]
(617) 430-7576

• Preclinical and Phase 1 data suggest that ratutrelvir can be used without ritonavir and may reduce the likelihood of COVID rebound and the risk of long COVID due to a longer treatment regimen
• Preparations are underway for FDA interactions and initiation of Phase 2 studies
• Data presentation to be provided at the Investor Event on March 31, 2025 at 10:00 AM ET

NEWTOWN, Pa., March 25, 2025 (GLOBE NEWSWIRE) — Traws Pharma, Inc. (NASDAQ: TRAW) (“Traws Pharma”, “Traws” or “the Company”), a clinical-stage biopharmaceutical company developing novel therapies to target critical threats to human health from respiratory viral diseases, today announced that positive data supporting the potential for ratutrelvir, a main protease inhibitor, as a treatment for COVID-19, were presented on March 20, 2025 in a poster at the International Conference for Antiviral Research (ICAR 2025), held in Las Vegas, Nevada.

Robert R. Redfield, MD, Chief Medical Officer for Traws Pharma and former Director of the U.S. Centers for Disease Control and Prevention (CDC), commented, “Traws designed ratutrelvir to overcome the limitations of current COVID treatments. COVID continues to be a significant cause of mortality for older adults with underlying medical conditions and people who are immunocompromised¹. Requirement to use the boosting agent ritonavir with widely used treatment² increases drug-drug interaction risk for patients with complex medical conditions and may limit patient eligibility for therapy³. Data presented at ICAR provide support that ratutrelvir treatment does not require co-administration of a metabolism inhibitor such as ritonavir, significantly simplifying ease of use, a key potential differentiator.”

C. David Pauza, PhD, Chief Science Officer for Traws Pharma, added: “Recent publications cite a relationship between the probability of slow viral clearance being associated with higher risk for long COVID⁴. Ratutrelvir suppressed replication of 18 different strains of SARS-CoV-2 in laboratory tests, maintained human blood levels within the predicted therapeutic window (>EC₉₀), and did not require coadministration of ritonavir. Data presented at ICAR 2025 shows that ratutrelvir is highly active against native virus and nirmatrelvir-resistant strains and omicron variants. Additionally, we know that the patterns of drug resistance mutations selected in vitro using ratutrelvir are largely distinct from the emerging clinical data on drug resistance to nirmatrelvir (protease inhibitor in Paxlovid™)⁴ and ensitrelvir⁵. Ratutrelvir is differentiated from these drugs in terms of in vitro potency, human pharmacokinetics, and drug resistance patterns.”

“We believe ratutrelvir has the potential to be a highly differentiated, broadly active treatment for COVID. Preparations are underway to meet with the FDA to align on a path forward and initiate Phase 2 studies,” noted Werner Cautreels, PhD, Chief Executive Officer for Traws Pharma. “We plan to host an Investor Event on Monday, March 31, 2025 at 10:00 AM ET to present an overview of preclinical and human data on ratutrelvir and outline potential next steps towards approval.”

To register for the virtual Investor Event, click here.

Ratutrelvir poster:

Data in the poster suggest that ratutrelvir could be used for COVID-19 therapy without ritonavir. Phase 1 results helped Traws define a target Phase 2 dose and treatment regimen and demonstrated excellent overall safety and tolerability:

• Potent Preclinical Suppression of Resistant Virus: Laboratory studies show that ratutrelvir is a highly active suppressor of COVID-19 replication of original and Omicron variants
• Pharmacokinetic (PK) Results Do Not Require a Metabolism Inhibitor: Drug exposure studies show that ratutrelvir metabolism is not induced by ten days of treatment at 600 mg/day and trough blood plasma levels of drug are maintained at four times the EC₉₀. These data provide support that ratutrelvir treatment does not require coadministration of a metabolism inhibitor such as ritonavir, significantly simplifying ease of use, a key differentiator
• Phase 1 data also show potential safety and attractive PK for a 10-day regimen: Data from single- and multiple ascending dose (SAD, MAD) studies demonstrated excellent safety/tolerability at all doses tests

At the selected Phase 2 dose and regimen of 600 mg/day for 10 days, ratutrelvir established and maintained 24-hour trough blood levels of approximately 13-times the EC₅₀ and drug levels remained above the EC₉₀ for 2 days after treatments cessation. The 10-day dosing regimen is intended to achieve optimal viral suppression and reduce the rates for clinical rebound

About Ratutrelvir

Ratutrelvir is an investigational oral, small molecule Mpro (3CL protease) inhibitor designed to be a broadly acting treatment for COVID-19, to be used without ritonavir. It has demonstrated in vitro activity against a range of COVID-19 strains. Preclinical and Phase 1 studies show that ratutrelvir does not require co-administration with a metabolic inhibitor, such as ritonavir, which could avoid ritonavir-associated drug-drug interactions³, and potentially enable wider patient use. Phase 1 data also show that ratutrelvir’s pharmacokinetic (PK) profile demonstrated maintenance of target blood plasma levels approximately 13 times above the EC₅₀ using the target Phase 2 dosing regimen of 600 mg/day for ten days, which may also reduce the likelihood of clinical rebound and, consequently, reduce the risk for long COVID.⁴ Industry data indicate that COVID treatment represents a potential multi-billion dollar market opportunity^7,8.

Source information:

1. https://www.cdc.gov/covid/risk-factors/index.html
2. https://s28.q4cdn.com/781576035/files/doc_financials/2024/q4/Q4-2024-PFE-Earnings-Release-Final.pdf
3. 
   https://ascpt.onlinelibrary.wiley.com/doi/pdf/10.1002/cpt.2646
   
4. Carly Herbert et al. (2025) Clinical Infectious Diseases.
   
   https://doi.org/10.1093/cid/ciae539
   
5. Tamura, T.J, et al., 2024, JAMA Network Open
   
   7
   
   :
   e2435431-e2435431
6. Uehara, T., H.et al., (2025). “Ensitrelvir treatment–emergent amino acid substitutions in SARS-CoV-2 3CLpro detected in the SCORPIO-SR phase 3 trial.”
   
   Antiviral Research
   
   
   236
   
   : 106097
7. Pfizer.com 10K report 2024, Feb 27, 2025 ;
8. Merck.& Co 10K, Feb 25 2025

Paxlovid is a registered trademark of Pfizer Inc.

About Traws Pharma, Inc.

Traws Pharma is a clinical stage biopharmaceutical company dedicated to developing novel therapies to target critical threats to human health in respiratory viral diseases. We are advancing novel investigational antiviral agents that have potent activity against difficult to treat or resistant virus strains that threaten human health. Our product candidates are intended to be safe, with simple dosing regimens. We strive to utilize accelerated clinical trial strategies with a commitment to patients who are especially vulnerable.

The Company’s two antiviral programs are investigational oral small molecules targeting bird flu and seasonal influenza, and COVID-19. Tivoxavir marboxil is in development as a single dose treatment for bird flu and seasonal influenza, targeting the influenza cap-dependent endonuclease (CEN). Ratutrelvir is in development as a COVID treatment, targeting the Main protease (Mpro or 3CL protease), without the need for co-administration of ritonavir.

For more information, please visit www.trawspharma.com and follow us on LinkedIn.

Forward-Looking Statements

Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties including statements regarding the Company, its business and product candidates, including the potential opportunity, benefits, effectiveness, safety, and the clinical and regulatory plans for tivoxavir marboxil and ratutrelvir. The Company has attempted to identify forward-looking statements by terminology including “believes”, “estimates”, “anticipates”, “expects”, “plans”, “intends”, “may”, “could”, “might”, “will”, “should”, “preliminary”, “encouraging”, “approximately” or other words that convey uncertainty of future events or outcomes. Although Traws believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including the success and timing of Traws’ clinical trials, Traws’ interactions with and guidance from the FDA, collaborations, market conditions, regulatory requirements and pathways for approval, the ongoing need for improved therapy to reduce the frequency of clinical rebound and the concomitant risk for long COVID, and those discussed under the heading “Risk Factors” in Traws’ filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements contained in this release speak only as of its date. Traws undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events, except to the extent required by law.

Traws Pharma Contact:

Nora Brennan
Traws Pharma, Inc.
[email protected]
www.trawspharma.com

Investor Contact:

Bruce Mackle
LifeSci Advisors, LLC
646-889-1200
[email protected]