Market Newsdesk

HERZLIYA, Israel, April 02, 2025 (GLOBE NEWSWIRE) — Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), a global commerce enablement and payments platform designed to help merchants scale their business by simplifying payments and maximizing loyalty, today announced the acquisition of Inepro Pay, a subsidiary of Inepro and a Nayax distributor in the Benelux region.

Acquiring Inepro Pay will expand Nayax’s reach in the Benelux region by consolidating a trusted partnership in-house, improving efficiency, and bringing Nayax closer to its customers in the region. Nayax will leverage Inepro Pay’s deep local expertise and skilled sales team to expand direct outreach, increase Nayax’s revenue while delivering faster and better support for the customers. Additionally, consolidating Inepro Pay under Nayax’s direct ownership will eliminate duplicate processes and reinforce a seamless merchant journey.

Europe is a core market for Nayax, accounting for around 36% of global revenues in 2024, and this strategic acquisition will accelerate growth with a new regional hub and catalyze further global expansion. Inepro Pay will become a full-service Nayax office in the Netherlands, joining our European offices in the United Kingdom and Germany. This is a significant milestone which reinforces Nayax as a leading commerce and payment solution in the heart of Europe.

“Our goal at Nayax has always been to simplify commerce and deepen customer loyalty for merchants worldwide,” said Yair Nechmad, CEO and Chairman of Nayax. “Inepro Pay has cultivated an unparalleled understanding of our products and customers as our distributor since 2015 in the Benelux region, and we’re confident that integrating their team and back-end operations will produce remarkable outcomes for businesses across Europe.”

“Our customers frequently tell us Nayax is the engine behind their success, unifying payments, operations, and loyalty into a powerful yet flexible retail solution which spares them the hassle of managing multiple vendors,” said Jeroen Pynenburg, CEO of Inepro Group. “It has been a privilege to build-up the Benelux Nayax representation in the last 10 years, and it is a natural moment for the team joining Nayax now. This will give the enhanced resources, sales tools, and operational backbone necessary to connect more merchants with a single, unified commerce platform.”

About
Nayax

Nayax is a global commerce enablement, payments and loyalty platform designed to help merchants scale their business. Nayax offers a complete solution including localized cashless payment acceptance, management suite, and loyalty tools, enabling merchants to conduct commerce anywhere, at any time. With foundations and global leadership in serving unattended retail, Nayax has transformed into a comprehensive solution focused on our customers’ growth across multiple channels. As of December 31, 2024, Nayax has 11 global offices, approximately 1,100 employees, connections to more than 80 merchant acquirers and payment method integrations and globally recognized as a payment facilitator. Nayax’s mission is to improve our customers’ revenue potential and operational efficiency. For more information, please visit www.nayax.com.

About
I
nepro

For more than 25 years, Inepro has been providing successful, modular solutions for authentication, payment, document accounting and telemetry in many different sectors. With 85+ people located in 8 countries, we work passionately together with our partners to come up with the best solutions. Every challenge is manageable for us. https://www.inepro.com/ 

Forward-Looking Statements

This
press
release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified
by the use of
forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others. Forward-looking statements include, but are not limited to, statements regarding our intent, belief or current expectations. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: our expectations regarding general market conditions, including as a result of the COVID-19 pandemic and other global economic trends; changes in consumer tastes and preferences; fluctuations in inflation, interest rate and exchange rates in the global economic environment; the availability of qualified personnel and the ability to retain such personnel; changes in commodity costs, labor, distribution and other operating costs; our ability to implement our growth strategy; changes in government regulation and tax matters; other factors that may affect our financial condition, liquidity and results of operations; general economic, political, demographic and business conditions in Israel, including the ongoing war in Israel that began on October 7, 2023 and global perspectives regarding that conflict; the success of operating initiatives, including advertising and promotional efforts and new product and concept development by us and our competitors; and other risk factors discussed under “Risk Factors” in our annual report on Form 20-F filed with the SEC on March 4, 2025 (our “Annual Report”). The preceding list is not intended to be an exhaustive list of
all of
our forward-looking statements. The forward-looking statements are based on our beliefs, assumptions and expectations of future performance,
taking into account
the information currently available to us. These statements are only estimates based upon our current expectations and projections about future events. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements.
In particular, you
should consider the risks provided under “Risk Factors” in our Annual Report. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Each forward-looking statement speaks only as of the date of the
particular statement
. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.

Public Relations Contact:  
Scott Gamm  
Strategy Voice Associates  
[email protected]  

Investor Relations Contact:  
Aaron Greenberg  
Chief Strategy Officer  
[email protected] 

CHATHAM, N.J., April 02, 2025 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP), a fully-integrated biopharmaceutical company with marketed products and a pipeline of development candidates, today announced that Seth Lederman M.D., Chief Executive Officer of Tonix Pharmaceuticals, will present at the 2025 Jones Trading Healthcare and Innovation Conference on Wednesday, April, 9, 2025, at 10:00 a.m. PT (1:00 p.m. ET) in Las Vegas, Nev.

Investors interested in arranging a meeting with the Company’s management during the conference should contact the Jones Trading conference coordinator. A live webcast of the presentation can be found under the IR Events tab of the Tonix website at www.tonixpharma.com.

Tonix Pharmaceuticals Holding Corp.

^*

Tonix is a fully-integrated biopharmaceutical company focused on transforming therapies for pain management and vaccines for public health challenges. Tonix’s development portfolio is focused on central nervous system (CNS) disorders. Tonix’s priority is to advance TNX-102 SL, a product candidate for the management of fibromyalgia, for which an NDA was submitted based on two statistically significant Phase 3 studies for the management of fibromyalgia and for which a PDUFA (Prescription Drug User Fee act) goal date of August 15, 2025 has been assigned for a decision on marketing authorization. The FDA has also granted Fast Track designation to TNX-102 SL for the management of fibromyalgia. TNX-102 SL is also being developed to treat acute stress reaction and acute stress disorder under a Physician-Initiated IND at the University of North Carolina in the OASIS study funded by the U.S. Department of Defense (DoD). Tonix’s CNS portfolio includes TNX-1300 (cocaine esterase), a biologic in Phase 2 development designed to treat cocaine intoxication that has FDA Breakthrough Therapy designation, and its development is supported by a grant from the National Institute on Drug Abuse. Tonix’s immunology development portfolio consists of biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-1500, which is an Fc-modified humanized monoclonal antibody targeting CD40-ligand (CD40L or CD154) being developed for the prevention of allograft rejection and for the treatment of autoimmune diseases. Tonix also has product candidates in development in infectious disease, including a vaccine for mpox, TNX-801. Tonix recently announced a contract with the U.S. DoD’s Defense Threat Reduction Agency (DTRA) for up to $34 million over five years to develop TNX-4200, small molecule broad-spectrum antiviral agents targeting CD45 for the prevention or treatment of infections to improve the medical readiness of military personnel in biological threat environments. Tonix owns and operates a state-of-the art infectious disease research facility in Frederick, Md. Tonix Medicines, our commercial subsidiary, markets Zembrace^® SymTouch^® (sumatriptan injection) 3 mg and Tosymra^® (sumatriptan nasal spray) 10 mg for the treatment of acute migraine with or without aura in adults.

* Tonix’s product development candidates are investigational new drugs or biologics; their efficacy and safety have not been established and have not been approved for any indication.

Zembrace SymTouch and Tosymra are registered trademarks of Tonix Medicines. All other marks are property of their respective owners.

This press release and further information about Tonix can be found at www.tonixpharma.com.

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on Tonix’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to the failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; risks related to the failure to successfully market any of our products; risks related to the timing and progress of clinical development of our product candidates; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payor reimbursement; limited research and development efforts and dependence upon third parties; and substantial competition. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in the Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the Securities and Exchange Commission (the “SEC”) on March 18, 2025, and periodic reports filed with the SEC on or after the date thereof. All of Tonix’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof.

Investor Contact

Jessica Morris
Tonix Pharmaceuticals
[email protected]
(862) 799-8599

Peter Vozzo
ICR Healthcare
[email protected]
(443) 213-0505

Media Contact

Ray Jordan
Putnam Insights
[email protected]
(949) 245-5432

Indication and Usage

Zembrace^® SymTouch^® (sumatriptan succinate) injection (Zembrace) and Tosymra^® (sumatriptan) nasal spray are prescription medicines used to treat acute migraine headaches with or without aura in adults who have been diagnosed with migraine.

Zembrace and Tosymra are not used to prevent migraines. It is not known if Zembrace or Tosymra are safe and effective in children under 18 years of age.

Important Safety Information

Zembrace and Tosymra can cause serious side effects, including heart attack and other heart problems, which may lead to death. Stop use and get emergency help if you have any signs of a heart attack:

• discomfort in the center of your chest that lasts for more than a few minutes or goes away and comes back
• severe tightness, pain, pressure, or heaviness in your chest, throat, neck, or jaw
• pain or discomfort in your arms, back, neck, jaw or stomach
• shortness of breath with or without chest discomfort
• breaking out in a cold sweat
• nausea or vomiting
• feeling lightheaded

Zembrace and Tosymra are not for people with risk factors for heart disease (high blood pressure or cholesterol, smoking, overweight, diabetes, family history of heart disease) unless a heart exam shows no problem.

Do not use Zembrace or Tosymra if you have:

• history of heart problems
• narrowing of blood vessels to your legs, arms, stomach, or kidney (peripheral vascular disease)
• uncontrolled high blood pressure
• hemiplegic or basilar migraines. If you are not sure if you have these, ask your provider.
• had a stroke, transient ischemic attacks (TIAs), or problems with blood circulation
• severe liver problems
• taken any of the following medicines in the last 24 hours: almotriptan, eletriptan, frovatriptan, naratriptan, rizatriptan, ergotamines, or dihydroergotamine. Ask your provider for a list of these medicines if you are not sure.
• are taking certain antidepressants, known as monoamine oxidase (MAO)-A inhibitors or it has been 2 weeks or less since you stopped taking a MAO-A inhibitor. Ask your provider for a list of these medicines if you are not sure.
• an allergy to sumatriptan or any of the components of Zembrace or Tosymra

Tell your provider about all of your medical conditions and medicines you take, including vitamins and supplements.

Zembrace and Tosymra can cause dizziness, weakness, or drowsiness. If so, do not drive a car, use machinery, or do anything where you need to be alert.

Zembrace and Tosymra may cause serious side effects including:

• changes in color or sensation in your fingers and toes
• sudden or severe stomach pain, stomach pain after meals, weight loss, nausea or vomiting, constipation or diarrhea, bloody diarrhea, fever
• cramping and pain in your legs or hips; feeling of heaviness or tightness in your leg muscles; burning or aching pain in your feet or toes while resting; numbness, tingling, or weakness in your legs; cold feeling or color changes in one or both legs or feet
• increased blood pressure including a sudden severe increase even if you have no history of high blood pressure
• medication overuse headaches from using migraine medicine for 10 or more days each month. If your headaches get worse, call your provider.
• serotonin syndrome, a rare but serious problem that can happen in people using Zembrace or Tosymra, especially when used with anti-depressant medicines called SSRIs or SNRIs. Call your provider right away if you have: mental changes such as seeing things that are not there (hallucinations), agitation, or coma; fast heartbeat; changes in blood pressure; high body temperature; tight muscles; or trouble walking.
• hives (itchy bumps); swelling of your tongue, mouth, or throat
• seizures even in people who have never had seizures before

The most common side effects of Zembrace and Tosymra include: pain and redness at injection site (Zembrace only); tingling or numbness in your fingers or toes; dizziness; warm, hot, burning feeling to your face (flushing); discomfort or stiffness in your neck; feeling weak, drowsy, or tired; application site (nasal) reactions (Tosymra only) and throat irritation (Tosymra only).

Tell your provider if you have any side effect that bothers you or does not go away. These are not all the possible side effects of Zembrace and Tosymra. For more information, ask your provider.

This is the most important information to know about Zembrace and Tosymra but is not comprehensive. For more information, talk to your provider and read the Patient Information and Instructions for Use. You can also visit https://www.tonixpharma.com or call 1-888-869-7633.

You are encouraged to report adverse effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch, or call 1-800-FDA-1088.

During the first 16 weeks of the Extension phase of the RewinD-LB clinical study neflamapimod slowed clinical progression compared to controls, as assessed by Clinical Dementia Rating Sum of Boxes (CDR-SB) and Clinical Global Impression of Change (CGIC)

Neflamapimod was associated with a reduced incidence of falls in the Extension phase of the study and new data to be presented at AD/PD™ 2025
demonstrates
improvements on endpoints measuring cognitive fluctuations and working memory

The results demonstrate proof-of-concept for neflamapimod as a treatment for dementia with Lewy bodies (DLB)

BOSTON, April 02, 2025 (GLOBE NEWSWIRE) — CervoMed Inc. (NASDAQ: CRVO), a clinical stage company focused on developing treatments for age-related neurologic disorders (CervoMed or the Company), today announced that investigators plan to present results, including new results, from the Extension phase of the Phase 2b RewinD-LB study that show neflamapimod demonstrated a clinically meaningful effect on slowing clinical progression in patients with DLB in an oral presentation during the 19^th International Conference on Alzheimer’s and Parkinson’s Disease and Related Neurologic Disorders (AP/PD™) on Saturday, April 5, 2025.

“The RewinD-LB Extension phase results for neflamapimod are highly encouraging. We are seeing a clear and meaningful effect on clinical worsening over time in patients with DLB, as assessed by CDR-SB and CGIC, which is further supported by positive data across several additional clinical endpoints,” stated Stephen Gomperts, MD, PhD, Associate Professor of Neurology at Harvard Medical School, Director, Lewy Body Dementia Unit at the Massachusetts General Hospital and site Principal Investigator for the RewinD-LB study. “Importantly, these results validate and replicate prior clinical trial results and are consistent with the scientific hypothesis that neflamapimod can provide clinical benefit by arresting the loss of cholinergic neuron function in the basal forebrain.”

“The presentation of the Extension phase data at AD/PD™ 2025 is an opportunity to share our findings and engage deeply with the DLB medical community as we plan for pivotal development and work to bring neflamapimod to patients as rapidly as possible,” said John Alam, MD, Co-Principal Investigator of the RewinD-LB study and CEO of CervoMed. “The positive findings across the primary outcome measure and multiple additional clinically important endpoints evaluated in the first 16 weeks of the Extension phase strengthen our belief that neflamapimod has the potential to be a transformative therapy for patients with DLB.”

16-Week Results from the Extension Phase of the Phase 2b RewinD-LB Study

¹

Overview

Of the 159 participants randomized in the initial 16-week double-blind, placebo-controlled phase (Initial phase) of the study, 152 completed the Initial phase and 149 entered the extension phase (Extension
phase), during which all participants received neflamapimod. As previously announced, during the Extension phase, 55 participants continued to receive the same batch of capsules (Old Capsules) utilized in the Initial phase of the study, while 94 participants received a new batch of capsules (New Capsules) for at least 8 weeks during the Extension phase, approximately half of which received only the New Capsules. In the Initial phase of the study, there were no discernible differences in clinical outcome between the neflamapimod (administered in Old Capsules) and placebo, which was hypothesized to be the result of sub-therapeutic plasma drug concentrations observed with the Old Capsules.

The New Capsules achieved target plasma drug concentrations, which has allowed CervoMed and clinical investigators to compare clinical outcomes between participants receiving the New Capsules (representing an active drug arm) and the Old Capsules (representing a control arm), as well as analyses that compared New Capsules administered during the Extension phase to placebo during the Initial phase of the study. For the comparison to placebo, the Old Capsules served as an important negative control. Participants and site personnel were blinded as to whether New or Old Capsules were being dispensed during the first 16 weeks of the Extension.

Positive effects seen with the New Capsules of neflamapimod compared to controls on multiple clinical endpoints:

• Improvement on primary outcome measures, change in CDR-SB, with the New Capsules both vs. Old Capsules (p<0.001) during first 16 weeks of the Extension phase and vs. placebo (p=0.003) utilizing all data in the study through to week 32 (includes Initial phase and first 16 weeks of the Extension phase).¹
• The magnitude of the effect on the CDR-SB was for all participants a mean improvement of 0.73 points with the New Capsules compared to the Old Capsules, and a mean 0.81 points in participants whose screening plasma ptau181 was less than 2.2 pg/mL (indicating absence of Alzheimer’s disease (AD) co-pathology); both exceeding the 0.5-point treatment group difference considered to be clinically meaningful (Tarawneh and Pankratz, Alzheimers Res Ther 2024;16:3).
• The percentage of participants who had clinically meaningfully worsening (i.e. increased greater than or equal to 1.5 points on the CDR-SB) during the first 16 weeks of the Extension phase was 40% lower on a relative basis (26.8% vs. 45.1%) in New Capsule recipients compared to Old Capsule recipients; and 62% lower (17.7% vs. 45.8%) in participants whose screening plasma ptau181 was less than 2.2 pg/mL.
• Improvement on Alzheimer’s Disease Cooperative Study (ADCS)-CGIC in participants administered New Capsules both in comparison to Old Capsules (p=0.035) during the Extension phase and in a within-participant comparison to placebo treatment during the Initial phase (p=0.039). The improvement compared to placebo in the within-participant analysis was not seen with the Old Capsules.
• Based on evaluation of 95% confidence intervals, improvement with New Capsules versus Old Capsules seen on Dementia Cognitive Fluctuation Scale and International Shopping List Test-Recognition (measuring working memory); and positive trends were seen on 12-item Neuropsychiatric Inventory (NPI-12), Timed Up and Go (TUG) and Unified Parkinson’s Disease Rating Scale Part III (Motor). These new analyses support the positive findings previously reported for the CDR-SB and the ADCS-CGIC.

Old and New Capsules have similar overall safety and tolerability profile:

• Both Old and New Capsules demonstrated comparable tolerability profiles and no new safety signals were identified during the Extension phase.
• Lower incidence of falls with the New Capsules (4% vs.15.2% with Old Capsules during the Extension phase, p=0.025, and 19.7% with placebo in the Initial phase, p=0.007) in participants with screening ptau181 < 2.2 pg/mL.

About the RewinD-LB Phase 2b Study in Dementia with Lewy Bodies and Next Steps

The RewinD-LB clinical study is a randomized, 16-week, double-blind, placebo-controlled clinical study evaluating oral neflamapimod (40mg TID), with a 32-week neflamapimod only treatment Extension phase, in 159 patients with DLB. Patients with AD co-pathology, as assessed by plasma ptau181 levels, were excluded from the study. Compared to patients with “pure” DLB – who may comprise up to 50% of the total diagnosed DLB patient population at any given time – DLB patients with AD co-pathology have significant, irreversible neuronal loss in the hippocampus that limits response to treatment. The primary outcome measure in the study is change in the CDR-SB, and secondary endpoints include Alzheimer’s Disease Cooperative Study – CGIC, the TUG test, and a cognitive test battery. The RewinD-LB study is funded primarily by a $21.3 million grant from the National Institutes of Health’s National Institute on Aging, which is expected to be disbursed over the course of the study as costs are incurred. The study includes 43 sites across in the United States, the United Kingdom, and the Netherlands). Participants completing the 16-week Initial phase of the study were able to continue in the study while receiving neflamapimod treatment for an additional 32-week Extension phase, within which the same efficacy assessments were conducted during the first 16 weeks as were obtained during the Initial phase.

CervoMed expects to complete the full 32-weeks of the Extension phase of the RewinD-LB study and engage with regulatory authorities to discuss finalizing Phase 3 plans for neflamapimod after these additional data become available later in 2025.

About CervoMed

CervoMed is a clinical-stage company focused on developing treatments for age-related neurologic disorders. The Company is currently developing neflamapimod, an investigational, orally administered small molecule brain penetrant that inhibits p38 mitogen-activated protein kinase alpha. Neflamapimod has the potential to treat synaptic dysfunction, the reversible aspect of the underlying neurodegenerative processes that causes clinical disease expression in DLB and certain other major neurological disorders. Neflamapimod is currently being evaluated in a Phase 2b study in patients with DLB.

Forward-Looking Statements

This press release includes express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, regarding the intentions, plans, beliefs, expectations or forecasts for the future of the Company, including, but not limited to, the Company’s financial position and cash runway, the therapeutic potential of neflamapimod, the anticipated timing and achievement of clinical and development milestones, including the completion the RewinD-LB Phase 2b clinical study and the Company’s announcement of additional data therefrom, any other expected or implied benefits or results, including that any initial clinical results observed with respect to neflamapimod in the AscenD-LB study or RewinD-LB study will be replicated in later trials, and the timing of the initiation of any potential future trials or interactions with regulatory authorities, including the Company’s need to acquire sufficient funding for any Phase 3 trial of neflamapimod in DLB. Terms such as “believes,” “estimates,” “anticipates,” “expects,” “plans,” “aims,” “seeks,” “intends,” “may,” “might,” “could,” “might,” “will,” “should,” “approximately,” “potential,” “target,” “project,” “contemplate,” “predict,” “forecast,” “continue,” or other words that convey uncertainty of future events or outcomes (including the negative of these terms) may identify these forward-looking statements. Although there is believed to be reasonable basis for each forward-looking statement contained herein, forward-looking statements by their nature involve risks and uncertainties, known and unknown, many of which are beyond the Company’s control and, as a result, actual results could differ materially from those expressed or implied in any forward-looking statement. Particular risks and uncertainties include, among other things, those related to: the Company’s available cash resources and the availability of additional funds on acceptable terms; the results of the Company’s clinical trials, including RewinD-LB; the likelihood and timing of any regulatory approval of neflamapimod or the nature of any feedback the Company may receive from the U.S. Food and Drug Administration; the ability to implement business plans, forecasts, and other expectations in the future; general economic, political, business, industry, and market conditions, inflationary pressures, and geopolitical conflicts; and the other factors discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (SEC) on March 17, 2025, and other filings that the Company may file from time to time with the SEC. Any forward-looking statements in this press release speak only as of the date hereof (or such earlier date as may be identified). The Company does not undertake any obligation to update such forward-looking statements to reflect events or circumstances after the date of this press release, except to the extent required by law.

Contacts:

Investors

PJ Kelleher
LifeSci Advisors
[email protected]
617-430-7579

Media

Argot Partners
[email protected] 
212-600-1902

¹ Though all analyses reported are exploratory in nature, along with 95% confidence intervals which are reported for all endpoints, p-values are reported for the CDR-SB and CGIC to provide a measure of the probability that any differences identified between the treatment groups are due to chance.

HOUSTON, TX, April 02, 2025 (GLOBE NEWSWIRE) — Prairie Operating Co. (Nasdaq: PROP) (the “Company” or “Prairie”), today announced the launch of an 11-well development program at the Rusch Pad in Weld County, Colorado. The first well was spud on April 1, 2025, utilizing Precision E-Drilling Rig 461, as part of the Company’s continued strategy to expand production and enhance operational efficiencies in the Denver-Julesburg (“DJ”) Basin.

The Rusch Pad development will consist of eleven two-mile lateral wells, alternating between the Niobrara A, B, and C Chalks and the Codell Sandstone. Drilling is expected to be completed by early June, with hydraulic fracturing commencing shortly after. Initial production is anticipated in early August. To minimize environmental impact, Prairie will deploy Precision’s E-rig 461, powered by natural gas generators with battery backup to enhance efficiency and reduce emissions.

“The Rusch Pad development is an important step in Prairie’s ongoing growth strategy following the closing of the Bayswater acquisition,” said Edward Kovalik, Chairman and CEO of Prairie. “With this new development, we are expanding our production footprint, optimizing our asset base, and further positioning Prairie for long-term success. We remain committed to disciplined capital deployment and maximizing shareholder value.”

The Rusch Pad development follows the recent closing of Prairie’s acquisition of Bayswater assets, which significantly expanded the Company’s position in the DJ Basin. Prairie is currently focused on integrating these assets, capturing operational efficiencies, and executing its development program to drive production growth and cash flow generation.

About Prairie Operating Co.

Prairie Operating Co. is a Houston-based publicly traded independent energy company engaged in the development and acquisition of oil and natural gas resources in the United States. The Company’s assets and operations are concentrated in the oil and liquids-rich regions of the Denver-Julesburg (DJ) Basin, with a primary focus on the Niobrara and Codell formations. The Company is committed to the responsible development of its oil and natural gas resources and is focused on maximizing returns through consistent growth, capital discipline, and sustainable cash flow generation. More information about the Company can be found at www.prairieopco.com.

Forward-Looking Statement

The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  All statements, other than statements of present or historical fact included herein, are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “strive”, “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on the Company’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. The Company cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. There may be additional risks not currently known by the Company or that the Company currently believes are immaterial that could cause actual results to differ from those contained in the forward-looking statements. Additional information concerning these and other factors that may impact the Company’s expectations can be found in the Company’s periodic filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K/A filed with the SEC on March 6, 2025, and any subsequently filed Quarterly Report and Current Report on Form 8-K. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

Investor Relations Contact:

Wobbe Ploegsma
[email protected] 
832.274.3449

The undisclosed target is a central regulator of inflammation that is distinct from the previously disclosed STAT6 program

Nurix DEL-AI drug discovery engine generated a drug discovery program to this previously undruggable target

Nurix received a $15 million license extension fee from Sanofi under its 2019 collaboration agreement, bringing the total amount received by Nurix to date to $105 million

Nurix is eligible for an additional $465 million in development, regulatory and commercial milestones for this program as well as potential future royalties and retains an option to co-develop and co-promote in the United States with the parties splitting U.S. profits and losses

SAN FRANCISCO, April 02, 2025 (GLOBE NEWSWIRE) — Nurix Therapeutics, Inc. (Nasdaq: NRIX), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, announced today that Sanofi has exclusively licensed an undisclosed Nurix program targeting a previously undruggable transcription factor for autoimmune diseases. The undisclosed target is a central regulator of the inflammation response and is distinct from the previously disclosed STAT6 degrader program.

“Using our DEL-AI platform, we successfully identified novel binders from which we derived a series of targeted protein degraders and stand-alone target binders for this previously undruggable target,” said Gwenn M. Hansen, Ph.D., chief scientific officer of Nurix. “This high value target is a transcription factor involved in the regulation of proinflammatory cytokines serving as a central regulator of inflammation response in autoimmune diseases where targeted protein degradation could offer an innovative treatment option.”

“Sanofi’s dedication to this program expands our mutual drug discovery pipeline in autoimmune disease and speaks to the productivity of our collaboration,” said Arthur T. Sands, M.D., Ph.D., president and chief executive officer of Nurix. “In addition, the highly novel nature of this target further validates the power of Nurix’s DEL-AI discovery platform to drive the discovery and development of truly innovative drugs. Partnerships are an important part of Nurix’s business model, adding non-dilutive capital and expanding our pipeline by retaining product opt-in rights in the United States. To date, Nurix has received $460 million from partners, including $105 million in payments received from the Sanofi collaboration. We look forward to continuing to advance these programs together with Sanofi, with the shared goal of providing new therapeutic options for patients with autoimmune and inflammatory disorders.”

Under the collaboration agreement, Nurix is deploying its proprietary DEL-AI drug discovery platform to identify novel agents that use E3 ligases to induce degradation of specified drug targets. Sanofi has the right to license drug candidates resulting from the work, and Nurix has the option to co-develop and co-promote up to two future products in the United States after studies to assess dosing, efficacy, and safety that provide clinical proof of concept. For those programs for which Nurix exercises its option to co-develop and co-promote, the parties will split U.S profits and losses evenly and Nurix will be eligible to receive royalties on ex-U.S. sales on all optioned products. For programs that Nurix does not exercise its option, Nurix will receive milestones and royalties based on global development and sales. Upon signing the agreement in December 2019, Sanofi made an upfront payment of $55 million to Nurix and one year later paid an additional $22 million to expand the scope of the collaboration. Including this $15 million license extension fee, Nurix has received a total of $105 million from Sanofi as part of this collaboration and remains eligible for up to $465 million in development, regulatory, and commercial milestones per licensed program as well as royalties on future sales.

About Nurix Therapeutics, Inc.

Nurix Therapeutics is a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, the next frontier in innovative drug design aimed at improving treatment options for patients with cancer and inflammatory diseases. Nurix’s wholly owned, clinical stage pipeline includes degraders of Bruton’s tyrosine kinase (BTK), a B-cell signaling protein, and inhibitors of Casitas B-lineage lymphoma proto-oncogene B (CBL-B), an E3 ligase that regulates activation of multiple immune cell types including T cells and NK cells. Nurix also is advancing multiple potentially first-in-class or best-in-class degraders and degrader antibody conjugates (DACs) in its preclinical pipeline. Nurix’s partnered drug discovery pipeline consists of preclinical stage degraders of IRAK4 and STAT6, as well as multiple additional programs under collaboration agreements with Gilead Sciences, Inc., Sanofi S.A. and Pfizer Inc., within which Nurix retains certain options for co-development, co-commercialization and profit sharing in the United States for multiple drug candidates. Powered by a fully AI-integrated discovery engine capable of tackling any protein class, and coupled with unparalleled ligase expertise, Nurix’s dedicated team has built a formidable advantage in translating the science of targeted protein degradation into clinical advancements. Nurix aims to establish degrader-based treatments at the forefront of patient care, writing medicine’s next chapter with a new script to outmatch disease. Nurix is headquartered in San Francisco, California. For additional information visit http://www.nurixtx.com.

Forward-Looking Statements

This press release contains statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When or if used in this press release, the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “should,” “will,” and similar expressions and their variants, as they relate to Nurix, may identify forward-looking statements. All statements that reflect Nurix’s expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements regarding: Nurix’s future plans and prospects, including its plans for the Nurix-Sanofi collaboration; the potential benefits of the Nurix-Sanofi collaboration; Nurix’s expectations with respect to the programs described in this press release; the potential achievement of collaboration milestones and license payments; the extent to which targeted protein degraders and stand-alone target binders may address a range of diseases, including autoimmune diseases; and the potential advantages of Nurix’s scientific approach and DEL-AI platform. Forward-looking statements reflect Nurix’s current beliefs, expectations, and assumptions. Although Nurix believes the expectations and assumptions reflected in such forward-looking statements are reasonable, Nurix can give no assurance that they will prove to be correct. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, which could cause Nurix’s actual activities and results to differ materially from those expressed in any forward-looking statement. Such risks and uncertainties include, but are not limited to: (i) the ability of each party to perform its obligations under the Nurix-Sanofi collaboration; (ii) whether the parties will be able to successfully conduct and complete preclinical development, clinical development and commercialization of any drug candidates under the Nurix-Sanofi collaboration; (iii) the unexpected emergence of adverse events or other undesirable side effects during preclinical and clinical development; (iv) whether Nurix will be able to fund development activities and achieve development goals, including those under the Nurix-Sanofi collaboration; (v) risks and uncertainties relating to the timing and receipt of payments from Nurix’s collaboration partners, including milestone payments and royalties on future potential product sales; and (vi) other risks and uncertainties described under the heading “Risk Factors” in Nurix’s Annual Report on Form 10-K for the fiscal year ended November 30, 2024, and other SEC filings. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. The statements in this press release speak only as of the date of this press release, even if subsequently made available by Nurix on its website or otherwise. Nurix disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.

Contacts:

Investors

Jason Kantor, Ph.D.
Nurix Therapeutics, Inc.
[email protected]

Elizabeth Wolffe, Ph.D.
Wheelhouse Life Science Advisors
[email protected]

Media

Aljanae Reynolds
Wheelhouse Life Science Advisors
[email protected]