AVITA Medical Announces Positive Interim Results from Cohealyx® Study Demonstrating Accelerated Time to Skin Grafting

  • Mean time to graft reduced to 13.6 days vs. 33.2 days real-world benchmark (~20 day reduction)
  • Median time to graft of 11 days, with grafting as early as 5 days
  • Study ongoing with full dataset expected in 2026
  • Management to host Key Opinion Leader webinar at 4:30 p.m. ET on April 16 during the American Burn Association Annual Meeting

VALENCIA, Calif., April 14, 2026 (GLOBE NEWSWIRE) — AVITA Medical®, Inc. (NASDAQ: RCEL, ASX: AVH), a leading therapeutic acute wound care company, today announced positive interim results from its Cohealyx-I multi-center study demonstrating a reduction of nearly 20 days in mean time to skin grafting (13.6 days vs 33.2 days benchmark) for patients with full-thickness wounds. The results demonstrated statistical superiority (p<0.001) versus a literature-derived benchmark, based on the lower bound of the 95% confidence interval (28 days). The benchmark was derived from a meta-analysis of published data on leading dermal matrices, representing approximately 900 patients.

The interim analysis of 40 patients showed a median time to grafting of 11 days. Grafting was achieved as early as 5 days, with 25% grafted within 7 days, and 72% grafted within 14 days. Investigators reported 90% satisfaction at the time of grafting, including among predominantly first-time users, supporting consistent performance and potential for broader adoption in clinical practice.

“Preparing the wound bed efficiently remains one of the key challenges in managing full-thickness wounds,” said Derek Bell, MD, Professor of Plastic Surgery and Kessler Burn Director, University of Rochester Medical Center, Rochester. “These interim results show that Cohealyx supports vascularization and enables earlier grafting, which is central to improving patient outcomes. Importantly, these results were achieved across a myriad of diverse and complex wounds.”

“This data strengthens our belief that Cohealyx can set a new benchmark in wound bed preparation,” said Cary Vance, Interim Chief Executive Officer of AVITA Medical. “The meaningful reduction in time to grafting and high investigator satisfaction highlight its potential as a differentiated solution with the ability to drive broader adoption as we work to improve each stage of the wound healing pathway.”

The data will be presented by Dr. Bell and Jonathan E. Schoen, MD, MPH, FACS, FABA, Medical Director, UMCNO Verified Burn Center, and Associate Professor of Clinical Surgery, Section of Burns/Trauma/Critical Care Surgery, LSUHSC School of Medicine at New Orleans, during an AVITA Medical symposium on Wednesday April 15.

Virtual Analyst and Investor Event

AVITA Medical will host a KOL webinar featuring Dr. Bell and Lourdes Castañón, MD, FACS, University of Arizona, to review the data and case studies on Thursday, April 16, 2026, at 4:30 p.m. Eastern Time (Friday, April 17, 2026, at 6.30 a.m. Australian Eastern Standard Time).

Direct webcast link:
https://edge.media-server.com/mmc/p/vwo6fg3m.

To participate by phone, please register in advance to receive dial-in details and a personal PIN:
https://register-conf.media-server.com/register/BI762be1b80b6546b3ad117327e3bcdb68.

A replay of the webcast will be available shortly after the event under the Events & Presentations section of the AVITA Medical website at: https://ir.avitamedical.com/.

About Cohealyx

Cohealyx is a collagen-based dermal matrix designed to support vascularization and optimize the wound bed for closure. It is intended for use in staged surgical procedures for acute full-thickness wounds and integrates with AVITA Medical’s broader portfolio, including RECELL®, to support efficient progression through the healing pathway.

About Cohealyx-I

Cohealyx-I is a prospective, single-arm, post-market, multi-center study evaluating the safety and performance of Cohealyx in patients with full-thickness wounds following surgical excision. The primary endpoint is time to autografting, assessed against a literature-derived performance benchmark.

Patients underwent a staged surgical approach, with Cohealyx applied to the wound bed following excision and autografting performed once adequate vascularization was achieved. Secondary endpoints include graft take, wound healing, and safety outcomes.

Patients are followed for approximately six months post-grafting to assess durability of outcomes and monitor adverse events.

For more information, visit ClinicalTrials.gov (NCT06787690).

About AVITA Medical, Inc.

AVITA Medical is a leading therapeutic acute wound care company delivering transformative solutions. Our technologies are designed to optimize wound healing, effectively accelerating the time to patient recovery. At the forefront of our platform is RECELL®, approved by the FDA for the treatment of thermal burn and trauma wounds. RECELL harnesses the healing properties of a patient’s own skin to create Spray-On Skin™, offering an innovative solution for improved clinical outcomes at the point-of-care. In the U.S., AVITA Medical also holds the exclusive rights to market, sell, and distribute Cohealyx, an AVITA Medical-branded collagen-based dermal matrix, and the exclusive rights to manufacture, market, sell, and distribute PermeaDerm®, a biosynthetic wound matrix.

In international markets, RECELL is approved to promote skin healing in a wide range of applications, including thermal burn and trauma wounds. RECELL and RECELL GO® have received the CE mark in Europe; and RECELL is TGA-registered in Australia, and has PMDA approval in Japan.

To learn more, visit www.avitamedical.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements generally may be identified by the use of words such as “could,” “expect,” “may,” “potential,” “valued,” “will,” “would,” and similar words or expressions, and the use of future dates. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation: industry market conditions; failure to obtain and/or maintain regulatory approvals and comply with applicable regulations; supply chain disruptions that could affect our ability to manufacture our products; market reaction to growth or product initiatives; market penetration of our products; changes in the legal or regulatory environments; and other business effects, including the effects of industry, as well as other economic or political conditions outside of the Company’s control. Any forward-looking statements made herein are made as of the date of this release, and the Company undertakes no obligation to publicly update or revise any of these statements, except as required by law. For additional information and other important factors that may cause actual results to differ materially from forward-looking statements, please see the “Risk Factors” section of the Company’s latest Annual Report on Form 10-K and other publicly available filings for a discussion of these and other risks and uncertainties.

Investor & Media Contact:

Ben Atkins
Phone +1-805 341 1571
[email protected] | [email protected]

Authorized for release by the Chief Financial Officer of AVITA Medical, Inc.

©2026 AVITA Medical. AVITA Medical®, the AVITA Medical logo, Cohealyx®, RECELL®, RECELL GO®, and Spray-On SkinTM Cells are trademarks of AVITA Medical. PermeaDerm® is a registered trademark owned by Stedical Scientific, Inc. All other trademarks are the properties of their respective owners.



Tims China Announces Fourth Quarter and Full Year 2025 Financial Results

System Sales Increased 4.0% Year-over-Year to RMB359.4 Million

17 Net New Store Openings During the Fourth Quarter,

1,047 System-Wide Stores at Year-End 2025

31.0 Million Registered Loyalty Club Members at Year-End,

Representing 29.0% Year-over-Year Growth

SHANGHAI and NEW YORK, April 14, 2026 (GLOBE NEWSWIRE) — TH International Limited (Nasdaq: THCH), the exclusive operator of Tim Hortons coffee shops in China (“Tims China” or the “Company”), today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2025.

FOURTH QUARTER 2025 HIGHLIGHTS

  • Total revenues of RMB308.5 million (USD44.1 million), representing a 7.3% decrease from the same quarter of 2024.
  • System sales
    1 of RMB359.4 million (USD51.4 million), representing a 4.0% increase from the same quarter of 2024.
  • Net new store openings totaled 17 (a net openings of 40 made-to-order (“MTO”) stores and a net closure of 23 non-MTO stores, of which 13 were Tims Express stores).
  • Company owned and operated store contribution
    2, previously reported as adjusted store EBITDA, was RMB9.2 million (USD1.3 million), compared to RMB13.0 million in the same quarter of 2024.
  • Company owned and operated store contribution margin
    3, previously reported as adjusted store EBITDA margin, was 3.7%, compared to 4.8% in the same quarter of 2024.

_________________________
1 System sales is calculated as the gross merchandise value of sales generated from both company owned and operated stores and franchised stores.
2 Company owned and operated store contribution is calculated as fully burdened gross profit4 of company owned and operated stores excluding depreciation & amortization.
3 Company owned and operated store contribution margin is calculated as company owned and operated store contribution as a percentage of revenues from company owned and operated stores.
4 Fully burdened gross profit of company owned and operated stores, the most directly comparable GAAP measure to company owned and operated store contribution, was a loss of RMB17.0 million (USD2.4 million) for the three months ended December 31, 2025, compared to a loss of RMB23.1 million in the same quarter of 2024.

FULL YEAR 2025 HIGHLIGHTS

  • Total revenues were RMB1,316.2 million (USD188.2 million), representing a 5.4% decrease from 2024.
  • Net new store openings totaled 25 (a net openings of 138 made-to-order (“MTO”) stores and a net closure of 113 non-MTO stores, of which 64 were Tims Express stores).
  • Registered loyalty club members totaled 31.0 million members as of December 31, 2025, representing a 29.0% growth from 2024.

COMPANY MANAGEMENT STATEMENT

Mr. Yongchen Lu, CEO & Director of Tims China, stated, “In the fourth quarter, we achieved positive net new store openings and continued our strong momentum in system sales, achieving a 4.0% year-over-year growth. 2025 marked a critical transition year for the Company. We further solidified our differentiated strategic positioning in ‘Coffee + Freshly Prepared Food,’ completed made-to-order renovations at almost all system-wide stores, surpassed 31 million registered loyalty club members, and received over 10,000 individual sub-franchisee applications by year-end. In the meantime, our sub-franchise businesses maintained steady contribution to cash flows and profitability. Profits from other revenues achieved a year-over-year growth of 55.7% in 2025.”

Mr. Dong (Albert) Li, CFO of Tims China, commented, “Amidst macroeconomic volatility and intensive market competition, our team demonstrated strong resilience and achieved profitability improvements through enhanced operational efficiencies, supply chain optimizations, and rigorous cost controls. In 2025, our full-year adjusted corporate EBITDA margin improved by 1.0 percentage point year-over-year. Specifically, for the full year of 2025, food and packaging costs, labor costs, other store operating expenses (each as a percentage of revenues from company owned and operated stores), and adjusted general and administrative expenses as a percentage of total revenues decreased by 1.4 percentage points, 0.8 percentage points, 0.1 percentage points, and 0.7 percentage points, respectively.”

FOURTH QUARTER 2025 FINANCIAL RESULTS

Total revenues were RMB308.5 million (USD44.1 million) for the three months ended December 31, 2025, representing a decrease of 7.3% from RMB332.6 million in the same quarter of 2024. Total revenues comprise:


  • Revenues from Company owned and operated stores
    were RMB248.7 million (USD35.6 million) for the three months ended December 31, 2025, representing a decrease of 8.0% from RMB270.2 million in the same quarter of 2024. The decrease was primarily attributable to closures of certain underperforming stores and a 1.4% decline in same-store sales growth for company owned and operated stores in the fourth quarter of 2025. The decrease was also attributable to an 8.4% year-over-year decrease in average ticket size, partially offset by a 3.0% increase in the number of orders from 9.5 million in the fourth quarter of 2024 to 9.8 million in the same quarter of 2025.

  • Other revenues
    were RMB59.8 million (USD8.6 million) for the three months ended December 31, 2025, representing a decrease of 4.3% from RMB62.5 million in the same quarter of 2024. The decrease was primarily due to less franchised stores were opened in the fourth quarter of 2025 compared to that in the same quarter of 2024.

Company owned and operated store costs and expenses were RMB257.3 million (USD36.8 million) for the three months ended December 31, 2025, representing a decrease of 9.4% from RMB283.9 million in the same quarter of 2024. Company owned and operated store costs and expenses comprise:


  • Food and packaging costs
    were RMB73.1 million (USD10.5 million) for the three months ended December 31, 2025, representing a decrease of 13.8% from RMB84.8 million in the same quarter of 2024, which was in line with the revenue trend. As we continued to benefit from higher efficiencies in supply chains and cost reduction on raw materials, logistic and warehousing expenses, food and packaging costs as a percentage of revenues from company owned and operated stores decreased by 2.0 percentage points from 31.4% in the fourth quarter of 2024 to 29.4% in the same quarter of 2025.

  • Rental and property management fees
    were RMB52.6 million (USD7.5 million) for the three months ended December 31, 2025, representing a decrease of 7.4% from RMB56.9 million in the same quarter of 2024, which was in line with the revenue trend as the number of our company-owned and operated stores decreased from 576 as of December 31, 2024 to 562 as of December 31, 2025. Rental and property management fees as a percentage of revenues from company owned and operated stores increased slightly by 0.2 percentage points from 21.0% in the fourth quarter of 2024 to 21.2% in the same quarter of 2025.

  • Payroll and employee benefits expenses
    were RMB50.6 million (USD7.2 million) for the three months ended December 31, 2025, representing a decrease of 7.9% from RMB54.9 million in the same quarter of 2024, which was in line with the revenue trend. Payroll and employee benefits expenses as a percentage of revenues from company owned and operated stores remained stable at 20.3% in both the fourth quarter of 2024 and 2025.

  • Delivery costs
    were RMB33.0 million (USD4.7 million) for the three months ended December 31, 2025, representing an increase of 15.5% from RMB28.6 million in the same quarter of 2024, which was in line with the 29.2% increase in delivery orders from 4.8 million in the fourth quarter of 2024 to 6.2 million in the same quarter of 2025. Delivery costs as a percentage of revenues from company owned and operated stores increased by 2.7 percentage points to 13.3% in the fourth quarter of 2025, compared to 10.6% in the same quarter of 2024, which was primarily due to delivery revenue as a percentage of revenues from company owned and operated stores increased from 51.8% in Q4 2024 to 65.6% in Q4 2025.

  • Other operating expenses
    were RMB21.7 million (USD3.1 million) for the three months ended December 31, 2025, representing a decrease of 4.4% from RMB22.7 million in the same quarter of 2024, which was in line with the revenue trend. Other operating expenses as a percentage of revenues from company owned and operated stores increased by 0.3 percentage points to 8.7% in the fourth quarter of 2025, compared to 8.4% in the same quarter of 2024.

  • Store depreciation and amortization expenses
    were RMB26.2 million (USD3.7 million) for the three months ended December 31, 2025, representing a decrease of 27.3% from RMB36.1 million in the same quarter of 2024, which was primarily due to impairment on property and equipment in relation to company owned and operated store closures and the reduced capital expenditures per store as a result of our initiatives to improve store unit economics. Store depreciation and amortization as a percentage of revenues from company owned and operated stores decreased by 2.9 percentage points to 10.5% in the fourth quarter of 2025, compared to 13.4% in the same quarter of 2024.

Costs of other revenues were RMB41.5 million (USD5.9 million) for the three months ended December 31, 2025, representing a decrease of 14.4% from RMB48.5 million in the same quarter of 2024, which was in line with the revenue trend. Costs of other revenues as a percentage of other revenues decreased by 8.3 percentage points from 77.7% in the fourth quarter of 2024 to 69.4% in the same quarter of 2025 due to higher margin we generated from franchise business during the fourth quarter of 2025.

Marketing expenses were RMB16.3 million (USD2.3 million) for the three months ended December 31, 2025, representing an increase of 18.4% from RMB13.8 million in the same quarter of 2024, as we expanded our branding initiatives and promotional offers. Accordingly, marketing expenses as a percentage of total revenues increased by 1.2 percentage points from 4.1% in the fourth quarter of 2024 to 5.3% in the same quarter of 2025.

General and administrative expenses were RMB63.0 million (USD9.0 million) for the three months ended December 31, 2025, representing a decrease of 17.4% from RMB76.3 million in the same quarter of 2024, which was primarily due to a RMB9.7 million (USD1.4 million) decrease in credit loss of account receivables. As a result of the foregoing, adjusted general and administrative expenses, which excludes: (i) share-based compensation expenses of RMB0.4 million (USD0.1 million), (ii) professional fees related to financing programs of RMB15.2 million (USD2.2 million); and (iii) reversal of impairment losses of rental deposits of RMB1.2 million (USD0.2 million), were RMB48.6 million (USD7.0 million), representing a decrease of 36.9% from RMB77.1 million in the same quarter of 2024. Adjusted general and administrative expenses as a percentage of total revenues decreased by 7.4 percentage points from 23.2% in the fourth quarter of 2024 to 15.8% in the same quarter of 2025. For more information on the Company’s non-GAAP financial measures, please see “Use of Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Measures to the Most Directly Comparable GAAP Measures” set forth at the end of this earnings release.

Franchise and royalty expenses were RMB15.4 million (USD2.2 million) for the three months ended December 31, 2025, representing an increase of 10.3% from RMB14.0 million in the same quarter of 2024, which was primarily due to an increase in the number of systemwide stores from 1,022 as of December 31, 2024 to 1,047 as of December 31, 2025 and a higher royalty rate applicable. Accordingly, franchise and royalty expenses as a percentage of total revenues increased by 0.8 percentage points, from 4.2% in the fourth quarter of 2024 to 5.0% in the same quarter of 2025.

Impairment losses of long-lived assets were RMB31.2 million (USD4.5 million) for the three months ended December 31, 2025, compared to RMB15.9 million in the same quarter of 2024, which was primarily due to an increase in the number of planned closures of underperforming company owned and operated stores.

As a result of the foregoing, operating loss was RMB118.6 million (USD17.0 million) for the three months ended December 31, 2025, compared to RMB117.2 million in the same quarter of 2024.

Adjusted Corporate EBITDA was a loss of RMB35.4 million (USD5.1 million) for the three months ended December 31, 2025, compared to a loss of RMB49.4 million in the same quarter of 2024. Adjusted Corporate EBITDA margin was negative 11.6% in the fourth quarter of 2025, compared to negative 14.9% in the same quarter of 2024.

Net loss from continuing operations was RMB227.2 million (USD32.5 million) for the three months ended December 31, 2025, compared to RMB138.9 million for the same quarter of 2024. Adjusted net loss was RMB75.7 million (USD10.8 million) for the three months ended December 31, 2025, compared to RMB98.0 million for the same quarter of 2024. Adjusted net loss margin was negative 24.7% in the fourth quarter of 2025, compared to negative 29.5% in the same quarter of 2024.

Net loss was RMB227.2 million (USD32.5 million) for the three months ended December 31, 2025, compared to RMB132.4 million for the same quarter of 2024.

Basic and diluted loss per ordinary share was RMB7.01 (USD1.00) in the fourth quarter of 2025, compared to RMB4.05 in the same quarter of 2024. Adjusted basic and diluted net loss per ordinary share was RMB2.36 (USD0.34) in the fourth quarter of 2025, compared to RMB2.99 in the same quarter of 2024.

Liquidity

As of December 31, 2025, the Company’s total cash and cash equivalents, restricted cash and time deposits were RMB129.7 million (USD18.5 million), compared to RMB184.2 million as of December 31, 2024. The change was primarily attributable to cash disbursements on the back of the expansion of our business, partially offset by the draw-down of additional bank borrowings.

KEY OPERATING DATA

Tims only For the three months ended or as of
(Exclude the discontinued business) Sep 30,   Dec 31,   Mar 31,   Jun 30,   Sep 30,   Dec 31,
2024   2024   2025   2025   2025   2025
                       
Total stores 946     1,022     1,024     1,015     1,030     1,047  
Company owned and operated stores 564     576     569     566     551     562  
Franchised stores 382     446     455     449     479     485  
Made to order (MTO) stores 485     632     652     692     730     770  
Non-MTO stores 461     390     372     323     300     277  
Same-store sales growth for system-wide stores -21.7 %   -13.3 %   -7.8 %   -4.8 %   1.3 %   -2.4 %
Same-store sales growth for company owned and operated stores -20.7 %   -12.3 %   -6.5 %   -3.6 %   3.3 %   -1.4 %
Registered loyalty club members (in thousands) 22,815     24,045     25,150     26,192     27,900     31,021  
Company owned and operated store contribution (Renminbi in thousands) 39,922     12,973     17,154     27,176     21,786     9,164  
Company owned and operated store contribution margin 13.3 %   4.8 %   6.7 %   9.6 %   7.7 %   3.7 %
                                   

KEY DEFINITIONS

  • Same-store sales growth. The percentage change in the sales of stores that have been operating for 12 months or longer during a certain period compared to the same period from the prior year. The same-store sales growth for any period of more than a month equals to the arithmetic average of the same-store sales growth of each month covered in the period. If a store was closed for seven days or more during any given month, its sales during that month and the same month in the comparison period are excluded for purposes of measuring same-store sales growth.
  • Net new store openings. The gross number of new stores opened during the period minus the number of stores permanently closed during the period.
  • System sales. Gross merchandise value of sales generated from both company owned and operated stores and franchised stores.
  • Company owned and operated store contribution (previously reported as adjusted store EBITDA). Calculated as fully burdened gross profit of company owned and operated stores excluding depreciation and amortization.
  • Company owned and operated store contribution margin (previously reported as adjusted store EBITDA margin). Calculated as company owned and operated store contribution as a percentage of revenues from company owned and operated stores.
  • Adjusted general and administrative expenses. Calculated as general and administrative expenses excluding share-based compensation expenses, expenses related to the issuance of certain ordinary shares to CF Principal Investments LLC in November 2022 (the “Commitment Shares”), offering costs related to the ESA (the “ESA Offering Costs”), expenses related to 200,000 of our ordinary shares that may be purchased from our controlling shareholder by a holder of our convertible notes at its option pursuant to the terms of an Option Agreement dated September 28, 2022 (the “Option Shares”), professional fees related to warrant exchange and other financing programs, and impairment losses of rental deposits.
  • Adjusted corporate EBITDA. Calculated as operating loss for continuing operations excluding certain non-cash expenses consisting of depreciation and amortization, share-based compensation expenses, impairment losses of long-lived assets, loss on disposal of property and equipment, expenses related to the Commitment Shares, the ESA Offering Costs, the Option Shares, professional fees related to warrant exchange and other financing programs, and impairment losses of rental deposits.
  • Adjusted corporate EBITDA margin. Calculated as adjusted corporate EBITDA as a percentage of total revenues.
  • Adjusted net loss. Calculated as net loss for continuing operations excluding share-based compensation expenses, impairment losses of long-lived assets, loss on disposal of property and equipment, expenses related to the Commitment Shares, the ESA Offering Costs, the Option Shares, professional fees related to warrant exchange and other financing programs, impairment losses of rental deposits, changes in fair value of convertible notes, changes in fair value of warrant liabilities, changes in fair value of ESA derivative liabilities, loss of the debt extinguishment and gain on disposal of Popeyes business.
  • Adjusted net loss margin. Calculated as adjusted net loss as a percentage of total revenues.
  • Adjusted basic and diluted net loss per ordinary share. Calculated as adjusted net loss attributable to the Company’s ordinary shareholders divided by weighted-average number of basic and diluted ordinary shares.

RECENT BUSINESS DEVELOPMENTS

To celebrate the dual anniversaries with its over 31 million registered loyalty club members, Tims China partnered with Air Canada to launch a special “Maple Journey” campaign in February 2026, offering four round-trip tickets between Shanghai and a city of choice in Canada. This exclusive promotion serves as a heartfelt thank-you to Chinese consumers for their support over the past seven years, connecting Shanghai and Canada through both coffee and travel. Tims China’s connection with travel extends beyond this partnership. In recent years, the brand has expanded into key transportation hubs, including airports, high-speed rail stations, and highway service areas, bringing Tims stores to major transit points. Whether in the air or on the move across cities, travelers can enjoy a delicious and trusted Tims experience.

USE OF NON-GAAP FINANCIAL MEASURES

The Company uses non-GAAP financial measures, namely company owned and operated store contribution, company owned and operated store contribution margin, adjusted general and administrative expenses, adjusted corporate EBITDA, adjusted corporate EBITDA margin, adjusted net loss, adjusted net loss margin, and adjusted basic and diluted net loss per ordinary share in evaluating its operating results and for financial and operational decision-making purposes. The Company defines (i) company owned and operated store contribution as fully burdened gross profit of company owned and operated stores excluding depreciation and amortization; (ii) company owned and operated store contribution margin as company owned and operated store contribution as a percentage of revenues from company owned and operated stores; (iii) adjusted general and administrative expenses as general and administrative expenses excluding share-based compensation expenses, expenses related to the Commitment Shares, the ESA Offering Costs, the Option Shares, professional fees related to warrant exchange and other financing programs, and impairment losses of rental deposits; (iv) adjusted corporate EBITDA as operating loss for continuing operations excluding certain non-cash expenses consisting of depreciation and amortization, share-based compensation expenses, impairment losses of long-lived assets, loss on disposal of property and equipment, expenses related to the Commitment Shares, the ESA Offering Costs, the Option Shares, professional fees related to warrant exchange and other financing programs, and impairment losses of rental deposits; (v) adjusted corporate EBITDA margin as adjusted corporate EBITDA as a percentage of total revenues; (vi) adjusted net loss as net loss for continuing operations excluding share-based compensation expenses, impairment losses of long-lived assets, loss on disposal of property and equipment, expenses related to the Commitment Shares, the ESA Offering Costs, the Option Shares, professional fees related to warrant exchange and other financing programs, impairment losses of rental deposits, changes in fair value of convertible notes, changes in fair value of warrant liabilities, changes in fair value of ESA derivative liabilities, loss of the debt extinguishment and gain on disposal of Popeyes business; (vii) adjusted net loss margin as adjusted net loss as a percentage of total revenues; and (viii) adjusted basic and diluted net loss per ordinary share as adjusted net loss for continuing operations attributable to the Company’s ordinary shareholders divided by weighted-average number of basic and diluted ordinary share. The Company believes company owned and operated store contribution, company owned and operated store contribution margin, adjusted general and administrative expenses, adjusted corporate EBITDA, adjusted corporate EBITDA margin, adjusted net loss, adjusted net loss margin, and adjusted basic and diluted net loss per ordinary share enhance investors’ overall understanding of its financial performance and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.

These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. As these non-GAAP financial measures have limitations as analytical tools and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures, which should be considered when evaluating the Company’s performance. For reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, “Reconciliation of Non-GAAP Measures to the Most Directly Comparable GAAP Measures.” The Company encourages investors and others to review its financial information in its entirety and not rely on any single financial measure.

EXCHANGE RATE INFORMATION

This earnings release contains translations of certain RMB amounts into U.S. dollars (“USD”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB6.9931 to USD1.00, the exchange rate in effect on December 31, 2025 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred could be converted into USD or RMB, as the case may be, at any rate or at all.

CONFERENCE CALL

The Company will hold a conference call today, on Tuesday, April 14, 2026, at 8:00 am Eastern Time (on Tuesday, April 14, 2026, at 8:00 pm Beijing Time) to discuss the financial results.

Participants are strongly encouraged to pre-register for the conference call, by using the weblink provided below.

https://register-conf.media-server.com/register/BIa8caf52166d74ea2961e15361ea8e13f

Participants may also view the live webcast by registering through below weblink:

https://edge.media-server.com/mmc/p/ro58awqs 

The webcast features a ‘Submit Your Question’ tab at the top, where you will have the opportunity to submit your questions before and during the call.

A live and archived webcast of the conference call will also be available at the Company’s Investor Relations website at https://ir.timschina.com under “Events and Presentations”.

FORWARD-LOOKING STATEMENTS

Certain statements in this earnings release may be considered forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, such as the Company’s ability to further grow its business and store network, optimize its cost structure, improve its operational efficiency, and achieve profitable growth. Forward-looking statements are statements that are not historical facts and generally relate to future events or the Company’s future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, as the case may be, are inherently uncertain and subject to material change. Factors that may cause actual results to differ materially from current expectations include various factors beyond management’s control, including, but not limited to, general economic conditions and other risks, uncertainties and factors set forth in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 20-F, and other filings it makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Except as required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.

STATEMENT REGARDING PRELIMINARY UNAUDITED FINANCIAL INFORMATION

The unaudited financial information set out in this earnings release is preliminary and subject to potential adjustments. Adjustments to the consolidated financial statements may be identified when audit work has been performed for the Company’s year-end audit, which could result in significant differences from this preliminary unaudited financial information. Accordingly, you should not place undue reliance upon these preliminary estimates. The preliminary unaudited financial information included in this press release has been prepared by, and is the responsibility of, the Company’s management. The Company’s auditor has not audited, reviewed, compiled, or applied agreed-upon procedures with respect to such preliminary financial data. Accordingly, the Company’s auditor does not express an opinion or any other form of assurance with respect thereto. Upon completion of the year-end audit, the Company’s audited financial results may differ materially from its preliminary estimates.

ABOUT TH INTERNATIONAL LIMITED

TH International Limited (Nasdaq: THCH) (“Tims China”) is the parent company of the exclusive master franchisees of Tim Hortons coffee shops in mainland China, Hong Kong and Macau. Tims China was founded by Cartesian Capital Group and Tim Hortons Restaurants International, a subsidiary of Restaurant Brands International (TSX: QSR) (NYSE: QSR).

The Company’s philosophy is rooted in world-class execution and data-driven decision making and centered around true local relevance, continuous innovation, genuine community, and absolute convenience. For more information, please visit https://www.timschina.com.

INVESTOR AND MEDIA CONTACTS

Investor Relations

[email protected]

Public and Media Relations

Patty Yu
[email protected]

TH INTERNATIONAL LIMITED AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands of RMB and US$, except for number of shares)
           
  As of
  December 31, 2024   December 31, 2025
  RMB   RMB   US$
           
ASSETS          
Current assets:          
Cash and cash equivalents 152,368     121,795     17,416  
Restricted Cash 31,869     7,916     1,132  
Amount due from related parties 5,858     195     28  
Accounts receivable, net 30,526     17,692     2,530  
Inventories 37,578     36,793     5,261  
Prepaid expenses and other current assets 158,882     142,235     20,340  
Total current assets 417,081     326,626     46,707  
           
Non-current assets:          
Property and equipment, net 502,159     332,070     47,485  
Intangible assets, net 97,019     81,014     11,585  
Operating lease right-of-use assets 493,308     348,916     49,894  
Other non-current assets 53,967     88,051     12,592  
Total non-current assets 1,146,453     850,051     121,556  
Total assets 1,563,534     1,176,677     168,263  
           
LIABILITIES AND SHAREHOLDERS’ EQUITY          
Current liabilities:          
Bank borrowings, current 381,263     395,088     56,497  
Accounts payable 223,838     199,152     28,478  
Contract liabilities 39,678     37,197     5,319  
Amount due to related parties 48,117     17,414     2,490  
Convertible notes, at fair value 473,716          
Operating lease liabilities 178,115     180,806     25,855  
Other current liabilities 191,205     172,605     24,683  
Total current liabilities 1,535,932     1,002,262     143,322  
           
Non-current liabilities:          
Convertible notes, at fair value 464,847     1,152,723     164,837  
Contract liabilities 8,022     10,133     1,449  
Operating lease liabilities 380,075     240,282     34,360  
Other non-current liabilities 7,673     7,712     1,103  
Total non-current liabilities 860,617     1,410,850     201,749  
Total liabilities 2,396,549     2,413,112     345,071  
           
Shareholders’ equity:          
Ordinary shares 10     10     1  
Additional paid-in capital 1,818,421     1,821,605     260,486  
Accumulated losses (2,668,505 )   (3,102,994 )   (443,722 )
Accumulated other comprehensive income 9,185     38,393     5,490  
Treasury shares          
Total deficit attributable to shareholders of the Company (840,889 )   (1,242,986 )   (177,745 )
Non-controlling interests 7,874     6,551     937  
Total shareholders’ deficit (833,015 )   (1,236,435 )   (176,808 )
           
Commitments and Contingencies          
           
Total liabilities and shareholders’ deficit 1,563,534     1,176,677     168,263  
           

                       
TH INTERNATIONAL LIMITED AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS)
(Amounts in thousands of RMB and US$, except for per share data)
                       
  For the three months ended December 31,   For the year ended December 31,
  2024   2025   2024   2025
  RMB   RMB   US$   RMB   RMB   US$
Revenues:                      
Company owned and operated stores 270,152     248,654     35,557     1,188,293     1,068,169     152,747  
Other revenues 62,473     59,806     8,552     202,865     248,027     35,467  
Total revenues 332,625     308,460     44,109     1,391,158     1,316,196     188,214  
                       
Costs and expenses, net:                      
Company owned and operated stores                      
Food and packaging 84,797     73,131     10,458     374,086     321,948     46,038  
Rental and property management fee 56,854     52,633     7,526     241,425     220,885     31,586  
Payroll and employee benefits 54,880     50,563     7,230     231,542     199,342     28,506  
Delivery costs 28,584     33,027     4,723     119,171     130,649     18,682  
Other operating expenses 22,745     21,733     3,108     95,036     84,317     12,057  
Store depreciation and amortization 36,074     26,213     3,748     129,614     107,930     15,434  
Company owned and operated store costs and expenses 283,934     257,300     36,793     1,190,874     1,065,071     152,303  
                       
Costs of other revenues 48,532     41,531     5,939     153,612     171,326     24,499  
Marketing expenses 13,764     16,298     2,331     64,849     63,457     9,074  
General and administrative expenses 76,321     63,034     9,014     210,323     204,341     29,222  
Franchise and royalty expenses 13,952     15,388     2,200     57,761     62,736     8,971  
Other operating costs and expenses 315     1,950     279     10,794     3,283     469  
Loss on disposal of property and equipment 431     1,213     173     4,147     6,470     925  
Impairment losses of long-lived assets 15,901     31,232     4,466     56,287     60,320     8,626  
Other income 3,338     869     124     8,408     3,455     494  
Total costs and expenses, net 449,812     427,077     61,071     1,740,239     1,633,549     233,595  
                       
Operating loss (117,187 )   (118,617 )   (16,962 )   (349,081 )   (317,353 )   (45,381 )
                       
Interest income 982     648     93     3,203     3,528     504  
Interest expenses (3,706 )   (4,017 )   (574 )   (22,448 )   (16,679 )   (2,385 )
Foreign currency transaction gain/(loss) (933 )   (627 )   (91 )   3,484     (1,120 )   (159 )
Loss of the debt extinguishment     (73,078 )   (10,450 )   (10,657 )   (73,078 )   (10,450 )
Changes in fair value of Deferred Contingent consideration             (16,941 )        
Changes in fair value of convertible notes (17,413 )   (31,493 )   (4,503 )   (65,874 )   (30,627 )   (4,380 )
                       
Loss from continuing operations before income taxes (138,257 )   (227,184 )   (32,487 )   (458,314 )   (435,329 )   (62,251 )
Income tax expenses (616 )           (2,115 )   (484 )   (69 )
Net loss from continuing operations (138,873 )   (227,184 )   (32,487 )   (460,429 )   (435,813 )   (62,320 )
                       
Discontinued operations:                      
Income from discontinued operations before income taxes (including gain on disposal of Popeyes business RMB66,203 thousand in 2024) before income taxes 6,485             51,444          
Income tax expenses                      
Net income from discontinued operations 6,485             51,444          
                       
Net loss (132,388 )   (227,184 )   (32,487 )   (408,985 )   (435,813 )   (62,320 )
                       
Less: Net income/(loss) attributable to non-controlling interests (830 )   936     134     3,096     (1,323 )   (189 )
Net income/(loss) attributable to shareholders of the Company                      
-from continuing operations (138,043 )   (228,120 )   (32,621 )   (463,525 )   (434,490 )   (62,131 )
-from discontinued operations 6,485             51,444          
Basic and diluted loss per Ordinary Share (4.05 )   (7.01 )   (1.00 )   (12.70 )   (13.36 )   (1.91 )
                       
Net loss (132,388 )   (227,184 )   (32,487 )   (408,985 )   (435,813 )   (62,320 )
                       
Other comprehensive income/(loss)                      
Amounts reclassified from accumulated other comprehensive income     5,851     837         5,851     837  
Fair value changes of convertible notes due to instrument-specific credit risk, net of nil income taxes (1,282 )   4,544     650     (1,495 )   2,005     287  
Foreign currency translation adjustment, net of nil income taxes (16,577 )   11,771     1,683     (10,812 )   21,354     3,053  
                       
Total comprehensive loss (150,247 )   (205,018 )   (29,317 )   (421,292 )   (406,603 )   (58,143 )
                       
Less: Comprehensive income/(loss) attributable to non-controlling interests (830 )   936     134     3,096     (1,323 )   (189 )
Comprehensive loss attributable to shareholders of the Company (149,417 )   (205,954 )   (29,451 )   (424,388 )   (405,280 )   (57,954 )
                                   

TH INTERNATIONAL LIMITED AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands of RMB and US$)
                       
  For the three months ended December 31,   For the year ended December 31,
  2024   2025   2024   2025
  RMB   RMB   US$   RMB   RMB   US$
Net cash provided by/(used in) operating activities (31,629 )   (9,600 )   (1,373 )   (39,667 )   (12,707 )   (1,817 )
Net cash used in investing activities 13,222     4,142     592     (8,037 )   (62,833 )   (8,985 )
Net cash provided by/(used in) financing activities 9,800     (25,085 )   (3,587 )   26,004     21,702     3,103  
Effect of foreign currency exchange rate changes on cash (3,890 )   925     132     2,350     (688 )   (99 )
Net decrease in cash (12,497 )   (29,618 )   (4,236 )   (19,350 )   (54,526 )   (7,798 )
Cash and cash equivalents and restricted cash, at beginning of the period 196,734     159,329     22,784     203,587     184,237     26,346  
Cash and cash equivalents and restricted cash, at end of the period 184,237     129,711     18,548     184,237     129,711     18,548  
                                   

TH INTERNATIONAL LIMITED AND SUBSIDIARIES  
RECONCILIATION OF NON-GAAP MEASURES TO THE MOST DIRECTLY COMPARABLE GAAP MEASURES  
(Unaudited, amounts in thousands of RMB and US$, except for number of shares and per share data)  
                                           
A. Company owned and operated store contribution                                          
    For the three months ended December 31,   For the year ended December 31,  
    2024     2025     2024     2025    
    RMB   % of Revenues – company owned and operated stores   RMB   US$   % of Revenues – company owned and operated stores   RMB   % of Revenues – company owned and operated stores   RMB   US$   % of Revenues – company owned and operated stores  
Revenues – company owned and operated stores   270,152     100.0     248,654     35,557     100.0     1,188,293     100.0     1,068,169     152,747     100.0    
Food and packaging costs – company owned and operated stores   (84,797 )   (31.4 )   (73,131 )   (10,458 )   (29.4 )   (374,086 )   (31.5 )   (321,948 )   (46,038 )   (30.1 )  
Rental expenses – company owned and operated stores   (56,854 )   (21.0 )   (52,633 )   (7,526 )   (21.2 )   (241,425 )   (20.3 )   (220,885 )   (31,586 )   (20.7 )  
Payroll and employee benefits – company owned and operated stores   (54,880 )   (20.3 )   (50,563 )   (7,230 )   (20.3 )   (231,542 )   (19.5 )   (199,342 )   (28,506 )   (18.7 )  
Delivery costs – company owned and operated stores   (28,584 )   (10.6 )   (33,027 )   (4,723 )   (13.3 )   (119,171 )   (10.0 )   (130,649 )   (18,682 )   (12.2 )  
Other operating expenses – company owned and operated stores   (22,745 )   (8.4 )   (21,733 )   (3,108 )   (8.7 )   (95,036 )   (8.0 )   (84,317 )   (12,057 )   (7.9 )  
Store depreciation and amortization   (36,074 )   (13.4 )   (26,213 )   (3,748 )   (10.5 )   (129,614 )   (10.9 )   (107,930 )   (15,434 )   (10.1 )  
Franchise and royalty expenses – company owned and operated stores   (9,319 )   (3.5 )   (8,403 )   (1,202 )   (3.5 )   (39,420 )   (3.3 )   (35,748 )   (5,112 )   (3.4 )  
Fully-burdened gross (loss) profit – company owned and operated stores   (23,101 )   (8.6 )   (17,049 )   (2,438 )   (6.9 )   (42,001 )   (3.5 )   (32,650 )   (4,668 )   (3.1 )  
Store depreciation and amortization   36,074     13.4     26,213     3,748     10.6     129,614     10.9     107,930     15,434     10.1    
                                           
Company owned and operated store contribution   12,973     4.8     9,164     1,310     3.7     87,613     7.4     75,280     10,766     7.0    
Company owned and operated store contribution margin   4.8 %   4.8 %   3.7 %   3.7 %   3.7 %   7.4 %   7.4 %   7.0 %   7.0 %   7.0 %  
                                           
B. Adjusted general and administrative expenses                                          
    For the three months ended December 31,   For the year ended December 31,  
    2024     2025     2024     2025    
    RMB   % of Total Revenues   RMB   US$   % of Total Revenues   RMB   % of Total Revenues   RMB   US$   % of Total Revenues  
General and administrative expenses from continuing operations   (76,321 )   (23.0 )   (63,034 )   (9,014 )   (20.4 )   (210,323 )   (15.2 )   (204,341 )   (29,222 )   (15.5 )  
Adjusted for:                                          
Share-based compensation expenses   (741 )   (0.2 )   436     62     0.1     519         2,827     404     0.2    
Professional fees related to financing programs           15,232     2,178     4.9     10,464     0.8     16,239     2,322     1.2    
Impairment losses of rental deposits           (1,235 )   (177 )   (0.4 )   2,457     0.2     7,615     1,089     0.6    
Adjusted General and administrative expenses   (77,062 )   (23.2 )   (48,601 )   (6,951 )   (15.8 )   (196,883 )   (14.2 )   (177,660 )   (25,407 )   (13.5 )  
                                           
C. Adjusted corporate EBITDA and adjusted corporate EBITDA margin                                      
    For the three months ended December 31,   For the year ended December 31,  
    2024     2025     2024     2025    
    RMB   % of Total Revenues   RMB   US$   % of Total Revenues   RMB   % of Total Revenues   RMB   US$   % of Total Revenues  
Operating loss from continuing operations   (117,187 )   (35.3 )   (118,617 )   (16,962 )   (38.5 )   (349,081 )   (25.1 )   (317,353 )   (45,381 )   (24.1 )  
Adjusted for:                                          
Depreciation and amortization   44,243     13.3     36,341     5,197     11.8     167,721     12.1     146,412     20,937     11.1    
Share-based compensation expenses   (741 )   (0.2 )   438     63     0.1     519     0.0     2,829     405     0.2    
Impairment losses of rental deposits       0.0     (1,235 )   (177 )   (0.4 )   2,457     0.2     7,615     1,089     0.6    
One-off expense of store closure   7,909     2.4             0.0     11,090     0.8             0.0    
Professional fees related to financing programs       0.0     15,232     2,178     4.9     10,464     0.8     16,239     2,322     1.2    
Impairment losses of long-lived assets   15,901     4.8     31,232     4,466     10.1     56,287     4.0     60,320     8,626     4.6    
Loss on disposal of property and equipment   431     0.1     1,213     173     0.4     4,147     0.3     6,470     925     0.5    
Adjusted Corporate EBITDA   (49,444 )   (14.9 )   (35,396 )   (5,062 )   (11.6 )   (96,396 )   (6.9 )   (77,468 )   (11,077 )   (5.9 )  
                                           
                                           
D. Adjusted net loss and adjusted net loss margin                                          
    For the three months ended December 31,   For the year ended December 31,  
    2024     2025     2024     2025    
    RMB   % of Total Revenues   RMB   US$   % of Total Revenues   RMB   % of Total Revenues   RMB   US$   % of Total Revenues  
Net loss from continuing operations   (138,873 )   (41.8 )   (227,184 )   (32,487 )   (73.7 )   (460,429 )   (33.1 )   (435,813 )   (62,320 )   (33.1 )  
                                           
Adjusted for:                                          
Share-based compensation expenses   (741 )   (0.2 )   438     63     0.1     519         2,829     405     0.2    
Professional fees related to financing programs           15,232     2,178     4.9     10,464     0.8     16,239     2,322     1.2    
Impairment losses of long-lived assets   15,901     4.8     31,232     4,466     10.1     56,287     4.0     60,320     8,626     4.6    
Impairment losses of rental deposits           (1,235 )   (177 )   (0.4 )   2,457     0.2     7,615     1,089     0.6    
One-off expense of store closure   7,909     2.4                 11,090     0.8                
Loss on disposal of property and equipment   431     0.1     1,213     173     0.4     4,147     0.3     6,470     925     0.5    
Loss of the debt extinguishment           73,078     10,450     23.7     10,657     0.8     73,078     10,450     5.6    
Changes in fair value of Deferred Contingent consideration                       16,941     1.2                
Changes in fair value of convertible notes   17,413     5.2     31,493     4,503     10.2     65,874     4.7     30,627     4,380     2.3    
Adjusted Net loss   (97,960 )   (29.5 )   (75,733 )   (10,831 )   (24.7 )   (281,993 )   (20.3 )   (238,635 )   (34,123 )   (18.1 )  
                                           
E. Adjusted basic and diluted net loss per Ordinary Share                                          
    For the three months ended December 31,   For the year ended December 31,  
    2024     2025     2024     2025    
    RMB   Unadjusted and Adjusted Basic and diluted loss per Ordinary Share   RMB   US$   Unadjusted and Adjusted Basic and diluted loss per Ordinary Share   RMB   Unadjusted and Adjusted Basic and diluted loss per Ordinary Share   RMB   US$   Unadjusted and Adjusted Basic and diluted loss per Ordinary Share  
Net income/(loss) attributable to shareholders of the Company   (131,558 )   (4.05 )   (228,120 )   (32,621 )   (1.00 )   (412,081 )   (12.70 )   (434,490 )   (62,131 )   (1.91 )  
Add:                                          
Net income/(loss) from discontinuing operations to shareholders of the Company   6,485     0.20             0.00     51,444     1.59                
                                           
Net loss from continuing operations to shareholders of the Company (138,043 )   (4.25 )   (228,120 )   (32,621 )   (1.00 )   (463,525 )   (14.29 )   (434,490 )   (62,131 )   (1.90 )  
Adjusted for:                                          
Share-based compensation expenses   (741 )   (0.02 )   438     63         519     0.02     2,829     405     0.01    
Professional fees related to financing programs           15,232     2,178     0.07     10,464     0.32     16,239     2,322     0.07    
Impairment losses of long-lived assets   15,901     0.49     31,232     4,466     0.14     56,287     1.73     60,320     8,626     0.27    
Impairment losses of rental deposits           (1,235 )   (177 )   (0.01 )   2,457     0.08     7,615     1,089     0.03    
One-off expense of store closure   7,909     0.24                 11,090     0.34                
Loss on disposal of property and equipment   431     0.01     1,213     173     0.01     4,147     0.13     6,470     925     0.03    
Loss of the debt extinguishment           73,078     10,450     0.32     10,657     0.33     73,078     10,450     0.32    
Changes in fair value of Deferred Contingent consideration                       16,941     0.52                
Changes in fair value of convertible notes   17,413     0.54     31,493     4,503     0.13     65,874     2.03     30,627     4,380     0.13    
Adjusted Net loss attributable to shareholders of the Company   (97,130 )   (2.99 )   (76,669 )   (10,965 )   (0.34 )   (285,089 )   (8.79 )   (237,312 )   (33,934 )   (1.04 )  
Weighted average shares outstanding used in calculating basic and diluted loss per share   32,494,265     N/A     32,519,377     32,519,377     N/A     32,444,772     N/A     32,519,377     32,519,377     N/A    
Adjusted basic and diluted net loss per Ordinary Share   (2.99 )       (2.36 )   (0.34 )       (8.79 )       (7.30 )   (1.04 )      
                                           



Accenture Federal Services to Deliver Early Operating Capability for DOE’s Genesis Mission CM2US

Accenture Federal Services to Deliver Early Operating Capability for DOE’s Genesis Mission CM2US

Six-month sprint with DOE’s National Laboratories will fuse lab data with commercial AI to secure U.S. critical mineral supply chains

ARLINGTON, Va.–(BUSINESS WIRE)–
To help secure the backbone of U.S. energy and defense, Accenture Federal Services will lead a high-velocity engineering and integration sprint to deliver an early capability for the U.S. Department of Energy’s (DOE) Genesis Mission. This sprint will focus on advancing the Critical Mineral and Materials to Unlock Supply (CM2US) initiative, which is led by DOE’s National Laboratories in partnership with Accenture.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260414097017/en/

In a powerful alliance with all U.S. Department of Energy National Laboratories and commercial leaders like Databricks Federal, Accenture Federal Services isbuilding a scalable digital infrastructure to accelerate the delivery of the American Science and Security Platform.

This early capability will operationalize AI-powered workflows together with DOE mission data for the Genesis Mission’s Critical Mineral Supply Challenges, allowing CM2US scientists and engineers to collaborate on real-world data and research challenges – using advanced technologies – as soon as early summer to secure the nation’s most vital supply chains.

“The Genesis Mission is a generational opportunity that demands bold action and Accenture Federal Services is well-positioned to deliver it,” said Ron Ash, CEO of Accenture Federal Services. “Together with our partners, we are rapidly turning vision into reality—standing up a live, secure, AI‑ready environment where researchers can detect risks, model scenarios, and strengthen America’s critical mineral supply chain with unprecedented velocity. When world‑class science becomes real‑world mission advantage at speed and scale, the nation wins.”

“Databricks Federal is proud to support the Genesis Mission and the Department of Energy’s goal to double the pace of American scientific discovery,” said Rory Patterson, Chairman of the Board of Databricks Federal. “As a company founded by researchers, we understand that breakthroughs require more than just compute—they require an open, unified data and AI platform. By bringing data engineering, analytics, and AI into a single governed environment, we are helping the DOE National Laboratories turn massive datasets into mission-critical insights at the speed of innovation.”

“We are laying the groundwork for a scalable solution that will power scientists across the U.S. to deliver insights and outcomes at a pace that I never thought possible. What we have been able to achieve in weeks is something that I didn’t think possible in years—until now,” said Frank Alexander, Senior AI Scientist at DOE’s Argonne National Laboratory.

This rapid progress reflects the power of a unified ecosystem of DOE’s National Labs together with top commercial innovators collaborating to build a common platform that advances the Genesis Mission challenge at mission scale to meet the program’s ambitious timelines.

“Energy security starts with visibility, speed and strategic partners,” said Angie Sheffield, Director of AI Strategy for Energy at Accenture Federal Services. “By empowering researchers to connect DOE’s world-class instruments and peerless scientific datasets with commercial AI technologies in an integrated platform, CM2US moves beyond automation to intelligence – so we can discover, decide, and deliver faster on a supply chain that powers American industry.”

These efforts mark a decisive step toward delivering the Genesis Mission’s Initial Operating Capability and securing America’s critical mineral future, bringing a new model for American scientific leadership and energy security closer to reality.

About Accenture Federal Services

Accenture Federal Services is a US subsidiary of Accenture LLP that government agencies choose to drive impactful change. Our 15,000 people are committed to powering reinvention for the federal government with the same commercial technology, competitive drive and technical edge that is transforming global industry—ensuring that federal enterprises can be as modern, fast, and efficient as the country it serves. See how we reinvent at www.accenturefederal.com.

About Accenture

Accenture (NYSE:ACN) is a leading solutions and services company that helps the world’s leading enterprises reinvent by building their digital core and unleashing the power of AI to create value at speed across the enterprise, bringing together the talent of our approximately 786,000 people, our proprietary assets and platforms, and deep ecosystem relationships. Our strategy is to be the reinvention partner of choice for our clients and to be the most client-focused, AI-enabled, great place to work in the world. Through our Reinvention Services we bring together our capabilities across strategy, consulting, technology, operations, Song and Industry X with our deep industry expertise to create and deliver solutions and services for our clients. Our purpose is to deliver on the promise of technology and human ingenuity, and we measure our success by the 360° value we create for all our stakeholders. Visit us at accenture.com.

Deirdre Blackwood

Accenture Federal Services

[email protected]

KEYWORDS: Virginia United States North America

INDUSTRY KEYWORDS: Technology Other Energy Utilities Finance Consulting Public Policy/Government Energy Professional Services Artificial Intelligence Other Technology Networks White House/Federal Government Data Management Security

MEDIA:

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Clearmind Medicine’s CMND-100 Meets Primary Endpoint in FDA-Approved Phase I/IIa Clinical Trial for Alcohol Use Disorder

Vancouver, Canada, April 14, 2026 (GLOBE NEWSWIRE) — Clearmind Medicine Inc. (Nasdaq: CMND) (“Clearmind” or the “Company”), a clinical-stage biotech company focused on the discovery and development of novel, non-hallucinogenic, second generation, neuroplastogen-derived therapeutics to solve major under-treated health problems, today announced that CMND-100, the Company’s proprietary non-hallucinogenic MEAI-based oral drug candidate, for the treatment of Alcohol Use Disorder (AUD) has met the primary endpoint in its FDA-approved Phase I/IIa clinical trial.

Results from the third cohort of the trial indicated a high safety profile for CMND-100, even at the higher dosage administered to date. The data demonstrated that the drug candidate was well tolerated, with no serious adverse events reported in the third cohort and continued favorable overall tolerability, consistent with the safety outcomes observed in prior cohorts.

The Phase I/IIa clinical trial is a multinational, multicenter study designed to evaluate the safety, tolerability, pharmacokinetics, and preliminary efficacy of CMND-100 in patients with moderate to severe AUD. Meeting the primary safety and tolerability endpoint in this dose-escalation stage, including at the higher dosage in the third cohort, supports continued advancement of CMND-100 as a potential novel, non-hallucinogenic treatment option for AUD.

About Clearmind Medicine Inc.

Clearmind is a clinical-stage neuroplastogens pharmaceutical biotech company focused on the discovery and development of non-hallucinogenic, second generation, neuroplastogen-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods, or supplements.

The Company’s intellectual portfolio currently consists of nineteen patent families, including 31 granted patents. The Company intends to seek additional patents for its compounds whenever warranted and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio.

Shares of Clearmind are listed for trading on Nasdaq under the symbol “CMND.”

For further information, visit: https://www.clearmindmedicine.com or contact:

Investor Relations
[email protected]
www.Clearmindmedicine.com

Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses the timing and progress of its clinical trials. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report on Form 20-F for the fiscal year ended October 31, 2025 and subsequent filings with the SEC. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Clearmind is not responsible for the contents of third-party websites.



FirstService Completes Two Tuck-Under Acquisitions


Adds Paul Davis Restoration and California Closets Company-Owned Operations in Key Midwest U.S. Markets

TORONTO, April 14, 2026 (GLOBE NEWSWIRE) — FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”) today announced that it has completed two acquisitions which further add to the company-owned operations within its Paul Davis Restoration and California Closets business lines. Terms of the transactions were not disclosed.

Paul Davis Restoration recently expanded its company-owned platform with the acquisition of its franchised operation covering the Cleveland and Akron, Ohio markets. This business provides mitigation, contents, reconstruction and mold remediation services to residential property owners, as well as commercial and institutional accounts. The existing leadership team will retain an ownership interest and continue to run day-to-day operations across this Ohio region. This acquisition furthers our strategy of selectively acquiring franchises within our aggregate network of approximately 375 locations across North America.

California Closets acquired the franchised territories encompassing the metropolitan areas of Indianapolis, Indiana; Louisville and Lexington, Kentucky; and Cincinnati, Ohio. This acquisition further expands the owned operations of the California Closets brand into additional markets with significant future growth potential.

“We continue to advance our company-owned strategies at Paul Davis and California Closets as opportunities present themselves,” said Scott Patterson, CEO of FirstService. “These tuck-under acquisitions bolster our presence and ability to capitalize on the growth opportunities in major markets across North America,” he concluded.

ABOUT FIRSTSERVICE CORPORATION

FirstService Corporation is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential, North America’s largest manager of residential communities; and FirstService Brands, one of North America’s largest providers of essential property services delivered through individually branded company-owned operations and franchise systems.

FirstService generates approximately $5.5 billion in annual revenues and has more than 30,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term track record of creating value and superior returns for shareholders. The Common Shares of FirstService trade on the NASDAQ and the Toronto Stock Exchange under the symbol “FSV”, and are included in the S&P/TSX 60 Index. More information is available at www.firstservice.com.

COMPANY CONTACTS:

Jeremy Rakusin

CFO

FirstService Corporation

(416) 960-9566



XCharge to Participate in the Webull Corporate Connect Webinar Series for Clean Energy Sector on April 15, 2026

HAMBURG, Germany and AUSTIN, Texas, April 14, 2026 (GLOBE NEWSWIRE) — XCHG Limited (“XCharge” or the “Company”) (Nasdaq: XCH), an integrated EV charging and energy solutions company, today announced that it will participate in the Webull Corporate Connect Webinar Series for the Clean Energy Sector, to be held virtually on April 15, 2026.

Joel A. Gallo, Chief Financial Officer of XCharge, will discuss the Company’s financial performance, while Aatish Patel, Chief Operating Officer of XCharge, will present on operations and deployment strategy for high-power EV Charging infrastructure.

Details of the presentation are as follows:
Date and Time: Wednesday, April 15, 2026, at 1:00 PM ET
Presenters: Joel A. Gallo, Chief Financial Officer, and Aatish Patel, Chief Operating Officer
Registration Link: Here

About XCharge 

XCharge (NASDAQ: XCH), founded in 2015, is an integrated EV charging and energy solutions company. With dual headquarters in Hamburg, Germany and Austin, Texas, the Company offers comprehensive EV charging solutions, which primarily include the DC fast chargers and the advanced battery-integrated DC fast chargers as well as its accompanying services. Through the combination of XCharge’s proprietary charging technology, energy storage system technology and accompanying services, the Company enhances EV charging efficiency and unlocks the value of energy storage and management. Committed to providing innovative and efficient EV charging solutions, XCharge is actively working toward establishing a global green future that is critical to long-term growth and development.

About Webull Financial

Webull Financial is a leading online brokerage platform committed to empowering self-directed investors with innovative tools and cutting-edge technology. With low-cost trading on a wide range of assets, advanced charting tools, and real-time market data, Webull is revolutionizing the way individuals approach investing. The user-centric approach and commitment to staying at the forefront of industry trends underscore the mission to provide a seamless and rewarding experience for traders of all levels. Through the Webull Group, Webull Financial and its affiliates combine to serve tens of millions of users from over 180 countries worldwide. Securities and futures trading is offered to customers by Webull Financial LLC (“Webull Financial”), a broker-dealer registered with the Securities and Exchange Commission (SEC) and a futures commission merchant registered with the Commodity Futures Trading Commission (CFTC). Webull Financial is a member of the Financial Industry Authority (FINRA), the National Futures Association (NFA), and the Securities Investor Protection Corporation (SIPC). All investing is subject to risk, including the possible loss of principal. For more information about Webull, visit www.webull.com.

Safe Harbor Statement 

This press release contains forward-looking statements. Such statements are made pursuant the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about XCHG Limited’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “objective,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in XCHG Limited’s filings with the United States Securities and Exchange Commission.
All information provided in this press release is as of the date of this press release, and XCHG Limited does not undertake any duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact:

XCharge
IR Department
Email: [email protected]

Water Tower Research Asia
Feifei Shen, CFA
Tel: +86 134-6656-6136
Email: [email protected]



Anavex Life Sciences Highlights New Scientific Findings on Shared Biology Between Autism and Alzheimer’s Disease

Findings underpin the scientific rationale for Anavex’s targeted autophagy approach with orally administered blarcamesine

Convergence of impaired autophagy and synaptic dysfunction across neurodevelopmental and neurodegenerative conditions aligns with blarcamesine’s mechanism of action

These findings support Anavex’s intent to advance blarcamesine into pivotal clinical studies to further evaluate its potential in addressing unexpectedly common CNS disease mechanisms

NEW YORK, April 14, 2026 (GLOBE NEWSWIRE) — Anavex Life Sciences Corp. (“Anavex” or the “Company”) (Nasdaq: AVXL), a clinical-stage biopharmaceutical company focused on developing innovative treatments for Alzheimer’s disease, Parkinson’s disease, schizophrenia, neurodevelopmental, neurodegenerative, and rare diseases, including Rett syndrome, and other central nervous system (CNS) disorders, today announced new findings on the shared biology between autism spectrum disorder (ASD) and Alzheimer’s disease (AD), a core area of Anavex’ development plans with its autophagy enhancing orally administered blarcamesine.


Key Highlights

  • Multiple peer-reviewed publications point to biological link between autism spectrum disorder (ASD) and Alzheimer’s disease (AD), including shared disruptions in autophagy.
  • Epidemiological data show that autistic adults may be diagnosed with Alzheimer’s and related dementias at rates up to 8 times higher than the general population, with onset occurring years or decades earlier than typical.
  • Converging human genetic evidence links numerous high-confidence ASD risk genes — including TSC1/TSC2, PTEN, SHANK3, and FMRP — to impaired cellular autophagy, establishing autophagy dysfunction as a shared molecular substrate across genetically diverse forms of ASD.
  • Synaptic dysfunction in ASD is now understood to arise, in substantial part, from a failure of autophagy-dependent synaptic pruning — causing an excess of poorly regulated synaptic connections and disrupted excitatory–inhibitory balance in neural circuits.
  • The brain’s extracellular matrix (ECM) is pathologically altered in ASD and is bidirectionally coupled to autophagy.
  • Restoration of autophagy impairment, now emerging as a central shared pathway in both ASD and AD, is precisely the biological system targeted by blarcamesine through its activation of SIGMAR1.
  • Blarcamesine has demonstrated restoration of autophagy through SIGMAR1 activation in preclinical models and has shown clinical effects in Phase IIb/III trials in early Alzheimer’s disease, Phase II/III in Rett syndrome (a neurodevelopmental disorder caused by MECP2 mutation), and Phase II in Parkinson’s disease dementia.
  • Collectively, these data provide a scientific basis for advancing blarcamesine into pivotal clinical studies, subject to further evaluation and regulatory considerations.


Reframing Brain Disorders: Converging Pathways in Neurodevelopment and Neurodegeneration

For decades, autism and Alzheimer’s disease were treated as conditions on opposite ends of the lifespan — one affecting brain development in early childhood, the other driving decline in old age. New research is adding a critical new twist. A landmark April 2025 study published in JAMA analyzed Medicare and Medicaid records covering more than 114,000 autistic adults and found that dementia prevalence among this population was dramatically elevated compared to the general population.¹ A separate recent 2026 paper in Frontiers in Neuroscience identified convergent disruptions in two critical systems shared by both conditions: The autophagy network and the synaptic regulation machinery.²

Autophagy is the cell’s natural process for clearing misfolded proteins, damaged organelles, lipids, and other cellular waste. In autism, excess synaptic connections form which are not properly pruned during development. In Alzheimer’s disease, impaired autophagy, worsened by ApoE4 lipoproteins, allows toxic protein aggregates — including amyloid-beta and fibrillary tau — to accumulate unchecked. Both conditions, in essence, share a common driver of disease pathogenesis: A failure of the brain’s housekeeping system.


Synaptic Dysfunction in ASD: When the Brain’s Pruning Mechanism Fails

The human brain is sculpted by a process of exuberant synapse formation followed by selective elimination — synaptic pruning — that removes excess connections and renders neural circuits fully functional. Autophagy is a core cellular mechanism enabling this pruning. A landmark Neuron study³ found excess dendritic spines in postmortem ASD cortical tissue compared to controls — direct evidence of failed pruning correlating with impaired autophagy. Blocking neural autophagy genetically reproduced core ASD features: Excess synapse density, impaired social behavior, and repetitive behaviors; restoring autophagy normalized both synaptic architecture and behavior. Microglia, the brain’s resident immune cells, depend equally on autophagy for synapse elimination.⁴ The downstream consequence of both failures is a disruption of excitatory–inhibitory balance — a core pathobiological signature of ASD.⁵,


The Genetic Architecture of ASD Converges on Autophagy

ASD is genetically heterogeneous, yet genome analyses repeatedly converge on a common theme: Mutations and copy-number variants in genes whose protein products regulate autophagy. Among the most studied are mutations in TSC1/TSC2 and PTEN genes, whose loss of function suppresses autophagy and is associated with high rates of ASD alongside epilepsy and intellectual disability.⁷ Fragile-X syndrome — the most common inherited cause of intellectual disability and autism — likewise involves reduced autophagic flux in hippocampal neurons, with activation of autophagy rescuing aberrant spine morphology, synaptic plasticity, and cognition in preclinical models.⁵ SHANK3 mutations further alter autophagy-dependent protein homeostasis at the synapse.⁸ Whole-exome sequencing has additionally identified copy-number variants in core autophagy genes in sporadic ASD cases.⁹ This genetic convergence is not coincidental; it is pathobiologically instructive.


The Brain’s Extracellular Matrix and Autophagy: A Bidirectional Relationship

A third dimension of ASD biology is receiving growing attention: The extracellular matrix (ECM) — the structural scaffold of proteins and proteoglycans surrounding all brain cells. Its most specialized form, the perineuronal net (PNN), enwraps key inhibitory interneurons and governs critical-period synaptic plasticity and circuit stability.¹⁰ PNN architecture is consistently altered in genetic ASD mouse models and in postmortem human ASD brain tissue.¹¹,¹² The ECM and autophagy are bidirectionally coupled: The ECM modulates intracellular autophagic activity, while autophagic flux is required for normal ECM remodeling and synaptic structural integrity.¹³,¹⁴,¹⁵ PNN disruption has also been identified as relevant for Alzheimer’s disease,¹⁶ reinforcing that the brain’s ECM is not a passive structural scaffold but an active participant in the same homeostatic networks that autophagy governs — and that blarcamesine targets through SIGMAR1 activation.


Why This Matters for Anavex and Blarcamesine

Blarcamesine is an investigational oral therapy that activates SIGMAR1, a key intracellular chaperone protein that sits at a critical junction of cellular homeostasis. Peer-reviewed research has established that SIGMAR1 activation by blarcamesine restores impaired autophagy by stimulating ULK1 phosphorylation — a central signaling node that initiates the formation of autophagosomes, the cellular organelles responsible for engulfing and recycling damaged proteins and organelles.

This mechanism was first demonstrated at the molecular level in a 2019 publication in Cells, which showed that blarcamesine enhances autophagic flux in human cells and increases proteostasis capacity in the roundworm C. elegans, ultimately rescuing the organism from paralysis caused by protein aggregation.¹⁷ A 2025 iScience publication further elucidated the molecular protein binding mechanism of blarcamesine to SIGMAR1 and GABARAP, a core autophagy protein.¹⁸

The emerging picture of ASD — as a condition with co-contribution of autophagy failure, synaptic pruning deficits, convergent genetic disruption of protein homeostasis pathways, and ECM dysregulation — maps directly onto the disease biology that blarcamesine is designed to address. The therapeutic rationale is not inferential; it is mechanistically grounded in the same autophagic machinery that blarcamesine has been shown to restore across multiple model systems and in human clinical trials.


Clinical Evidence Across the Lifespan

Anavex’s clinical development program spans both neurodegenerative and neurodevelopmental conditions, reflecting precisely the kind of cross-lifespan therapeutic strategy that the emerging autism–Alzheimer’s research now suggests is needed:

Alzheimer’s Disease: In the Phase IIb/III ANAVEX®2-73-AD-004 trial, once-daily oral blarcamesine significantly slowed cognitive and functional decline in patients with early Alzheimer’s disease over 48 weeks, supported by biomarker evidence including improved plasma Aβ42/40 ratio and significant reduction in brain atrophy in key brain areas. A precision medicine approach demonstrated that patients carrying wild-type SIGMAR1 (the ABCLEAR1 population, representing approximately 70% of the global population) showed enhanced clinical responses. This approach was further amplified in the ABCLEAR3 population, including the brain’s extracellular matrix (ECM) wild-type protein COL24A1.

Rett Syndrome: The AVATAR trial demonstrated clinical effects in adult patients with Rett syndrome, a severe neurodevelopmental disorder caused by mutations in the MECP2 gene — one of the genes now identified as key for brain development. Treatment was associated with changes in disease-relevant biomarkers, including a significant increase in GABA levels. Open-label extension data indicated disease-modifying effects. A Phase II/III pediatric trial (EXCELLENCE) has also been completed.

Parkinson’s Disease Dementia: Blarcamesine has shown proof-of-concept efficacy in a Phase II study in Parkinson’s disease dementia, a condition also linked to impaired autophagy and protein aggregation (alpha-synuclein). Advanced clinical development in Parkinson’s disease is ongoing.

“The growing recognition that neurodevelopmental and neurodegenerative conditions share fundamental disease biology — particularly around autophagy — validates the foundational science behind Anavex’s platform,” said Wolfgang Liedtke, MD, PhD, Senior Vice President and Global Head of Neurology at Anavex. “We are looking forward to proceeding with pivotal clinical trials on the principle that restoring cellular homeostasis through SIGMAR1 activation may address disease biology across the CNS, from childhood through old age.”

“As independent researchers from institutions including Mount Sinai, Boston University, Drexel University, and the Karolinska Institute continue to map the molecular connections between autism and Alzheimer’s, the therapeutic rationale for a precision medicine approach targeting autophagy with blarcamesine has never been more encouraging,” said Christopher U. Missling, PhD, President and Chief Executive Officer of Anavex. “Anavex’s unique precision medicine approach recognizes autophagy dysfunction as a common upstream contributor preceding diverse downstream pathologies across the age spectrum.”

This release discusses investigational uses of an agent in development and is not intended to convey conclusions about efficacy or safety. There is no guarantee that any investigational uses of such product will successfully complete clinical development or gain health authority approval.

About Anavex Life Sciences Corp.

Anavex Life Sciences Corp. (Nasdaq: AVXL) is a publicly traded biopharmaceutical company dedicated to the development of novel therapeutics for the treatment of neurodegenerative, neurodevelopmental, and neuropsychiatric disorders, including Alzheimer’s disease, Parkinson’s disease, schizophrenia, Rett syndrome, and other central nervous system (CNS) diseases, pain, and various types of cancer. Anavex’s lead drug candidate, blarcamesine (ANAVEX®2-73), has successfully completed a Phase 2a and a Phase 2b/3 clinical trial for Alzheimer’s disease, a Phase 2 proof-of-concept study in Parkinson’s disease dementia, and both a Phase 2 and a Phase 3 study in adult patients and one Phase 2/3 study in pediatric patients with Rett syndrome. Blarcamesine is an orally available drug candidate designed to restore cellular homeostasis by targeting SIGMAR1 and muscarinic receptors. Preclinical studies demonstrated its potential to halt and/or reverse the course of Alzheimer’s disease. Blarcamesine also exhibited anticonvulsant, anti-amnesic, neuroprotective, and anti-depressant properties in animal models, indicating its potential to treat additional CNS disorders, including epilepsy. The Michael J. Fox Foundation for Parkinson’s Research previously awarded Anavex a research grant, which fully funded a preclinical study to develop blarcamesine for the treatment of Parkinson’s disease. We believe that ANAVEX®3-71, which targets SIGMAR1 and M1 muscarinic receptors, is a promising clinical stage drug candidate demonstrating disease-modifying activity against the major hallmarks of Alzheimer’s disease in transgenic (3xTg-AD) mice, including cognitive deficits, amyloid, and tau pathologies. In preclinical trials, ANAVEX®3-71 has shown beneficial effects on mitochondrial dysfunction and neuroinflammation. Further information is available at www.anavex.com. You can also connect with the Company on Twitter,Facebook, Instagram, and LinkedIn.

Forward-Looking Statements

Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including the risks set forth in the Company’s most recent Annual Report on Form 10-K filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and Anavex Life Sciences Corp. undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.

For Further Information:

Anavex Life Sciences Corp.
Research & Business Development
Toll-free: 1-844-689-3939
Email: [email protected]

Investors:

Andrew J. Barwicki
Investor Relations
Tel: 516-662-9461
Email: [email protected]

References

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  2. Phillips WT et al. “Pathophysiologic similarities between autism spectrum disorder and Alzheimer’s disease: therapeutic possibilities.” Frontiers in Neuroscience. 2026;19:1737007.
  3. Tang G et al. “Loss of mTOR-dependent macroautophagy causes autistic-like synaptic pruning deficits.” Neuron. 2014;83(5):1131–1143.
  4. Kim HJ et al. “Deficient autophagy in microglia impairs synaptic pruning and causes social behavioral defects.” Molecular Psychiatry. 2017;22(11):1576–1584.
  5. Yan J et al. “Activation of autophagy rescues synaptic and cognitive deficits in fragile X mice.” PNAS. 2018;115(41):E9707–E9716.
  6. Hui KK et al. “GABARAPs dysfunction by autophagy deficiency in adolescent brain impairs GABA₁ receptor trafficking and social behavior.” Sci Adv. 2019;5(4):eaau8237.
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  10. Fawcett JW et al. “The roles of perineuronal nets and the perinodal extracellular matrix in neuronal function.” Nat Rev Neurosci. 2019;20(8):451–465.
  11. Burket JA et al. “Region-Specific Alterations of Perineuronal Net Expression in Postmortem Autism Brain Tissue.” Front Psychiatry. 2022;13:872615.
  12. Adeyelu TT et al. “Behavioral regulation by perineuronal nets in the prefrontal cortex of the CNTNAP2 mouse model of autism spectrum disorder.” Front Behav Neurosci. 2023;17:1114789.
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Profound Medical to Participate in the 2026 Bloom Burton & Co. Healthcare Investor Conference

TORONTO, April 14, 2026 (GLOBE NEWSWIRE) — Profound Medical Corp. (NASDAQ:PROF; TSX:PRN) (“Profound” or the “Company”), a commercial-stage medical device company that develops and markets AI-powered, MRI-guided, incision-free therapies for the ablation of diseased tissue, today announced that management will present an update on the Company’s business at the 2026 Bloom Burton & Co. Healthcare Investor Conference on Wednesday, April 22, 2026 at 10:00 a.m. Eastern Time at the Metro Toronto Convention Centre.

The presentation will be broadcast live and archived on the Company’s website at www.profoundmedical.com under “IR Calendar” in the Investors section.

About Profound Medical Corp.

Profound is a commercial-stage medical device company and an innovator in interventional MRI procedures, enabling precise, incision-free therapies that improve clinical confidence, procedural control, and patient outcomes. By leveraging real-time MRI guidance, Profound’s technologies are designed to replace uncertainty with clarity across treatment planning, delivery, and confirmation.

The company’s flagship platform, TULSA-PRO®, enables MRI-guided, incision-free prostate therapy designed for precision and flexibility. The TULSA Procedure™ allows physicians to see, treat, and confirm therapy in real time, supporting personalized treatment strategies across the continuum of prostate care—from whole-gland to subtotal, hemi, multifocal, and focal treatment. This approach enables individualized care for the full spectrum of prostate disease, including prostate cancer and/or benign prostatic hyperplasia (BPH), while minimizing side effects typically associated with surgery or radiation, such as urinary incontinence and/or erectile dysfunction.

Profound also commercializes Sonalleve®, an MRI-guided therapy that provides a non-surgical treatment option for pain palliation of bone metastases, desmoid tumors, and osteoid osteoma, as well as for common gynecologic conditions including uterine fibroids and adenomyosis. Sonalleve delivers targeted therapy with no incisions, no blood loss during the procedure, no overnight hospital stay, and faster recovery — and, in gynecologic applications, enables uterine-sparing treatment that may help preserve fertility. Profound is also exploring additional clinical applications for Sonalleve, including non-invasive ablation of abdominal cancers and hyperthermia-based cancer therapies.

Profound Medical’s technologies are approved across major global markets. TULSA-PRO is cleared or approved in the United States, Europe, Canada, Saudi Arabia, India, Australia/New Zealand, and the UAE, while Sonalleve is cleared or approved in the United States (HDE), Europe, Canada, China, and Saudi Arabia.

Through real-time MRI guidance and data-driven innovation, Profound is advancing the future of MRI-guided therapy — expanding access to precise, personalized, and incision-free treatment options worldwide.

For further information, please contact:

Stephen Kilmer
Investor Relations
[email protected]
T: 647.872.4849



Praxis Precision Medicines Announces FDA Acceptance of New Drug Application for Ulixacaltamide HCl in Patients with Essential Tremor

FDA assigned PDUFA target action date of January 29, 2027

No advisory committee meeting expected

BOSTON, April 14, 2026 (GLOBE NEWSWIRE) — Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a fully integrated, leading central nervous system (CNS) precision neuroscience biopharmaceutical company, today announced that the U.S. Food and Drug Administration (FDA) has accepted for review its New Drug Application (NDA) for ulixacaltamide HCl for the treatment of essential tremor (ET) in adults. The FDA has set a target action date under the Prescription Drug User Fee Act (PDUFA) of January 29, 2027 and is not planning to hold an advisory committee meeting.

“Today’s announcement brings us one step closer to delivering something patients living with essential tremor have been waiting for, a therapy developed specifically for their condition,” said Marcio Souza, president and chief executive officer. “We look forward to continuing to work with the FDA through the review process while we prepare for the commercial launch.”

Ulixacaltamide for treatment of essential tremor 

The NDA is supported by positive results from the Essential3 Phase 3 program, which comprised two simultaneously enrolled pivotal studies in adults with essential tremor. The statistically and clinically significant results from the Essential3 program provide the primary evidence of effectiveness for the NDA submission. Ulixacaltamide was generally well tolerated, with a safety profile consistent with previous trials and no drug-related serious adverse events. Ulixacaltamide received Breakthrough Therapy Designation (BTD) from the FDA in December 2025.

About Ulixacaltamide

Ulixacaltamide is a differentiated and highly selective small molecule inhibitor of T-type calcium channels designed to block abnormal neuronal burst firing in the Cerebello-Thalamo-Cortical (CTC) circuit correlated with tremor activity. Ulixacaltamide has received Breakthrough Therapy Designation from the FDA and is the most advanced program within Praxis’ Cerebrum™ small molecule platform.

About Praxis 
Praxis Precision Medicines is a fully integrated, leading central nervous system (CNS) precision neuroscience biopharmaceutical company, translating insights from genetic epilepsies into the development of therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance. Praxis is applying genetic insights to the discovery and development of therapies for rare and more prevalent neurological disorders through our proprietary small molecule platform, Cerebrum™, and antisense oligonucleotide (ASO) platform, Solidus™, using our understanding of shared biological targets and circuits in the brain. Praxis has established a diversified, multimodal CNS portfolio including multiple programs across movement disorders and epilepsy, with four late-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on Facebook,LinkedIn and X/Twitter

Forward-Looking Statements 
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 and other federal securities laws, including express or implied statements regarding Praxis’ future expectations, plans and prospects, including, without limitation, statements regarding the anticipated timing of clinical trials, the anticipated timing of regulatory submissions and interactions and potential market opportunity and commercial potential of Praxis’ product candidates, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “endeavor,” “estimate,” “expect,” “anticipate,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will” or “would” and similar expressions that constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. 

The express or implied forward-looking statements included in this press release are only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation: uncertainties inherent in clinical trials; the expected timing of clinical trials, data readouts and the results thereof, and submissions for regulatory approval or review by governmental authorities; regulatory approvals to conduct trials; and other risks concerning Praxis’ programs and operations as described in its Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made with the Securities and Exchange Commission. Although Praxis’ forward-looking statements reflect the good faith judgment of its management, these statements are based only on information and factors currently known by Praxis. As a result, you are cautioned not to rely on these forward-looking statements. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Praxis undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.



Investor Contact: 

Praxis Precision Medicines 
[email protected] 
857-702-9452 
 
Media Contact: 

Dan Ferry 
LifeSci Advisors 
[email protected]
617-430-7576

Sanara MedTech Inc. to Report First Quarter 2026 Financial Results on May 12, 2026

FORT WORTH, TX, April 14, 2026 (GLOBE NEWSWIRE) — Sanara MedTech Inc. (“Sanara,” the “Company”, “we,” “our” or “us”) (Nasdaq: SMTI), a medical technology company focused on developing and commercializing transformative technologies to improve clinical outcomes and reduce healthcare expenditures in the surgical market, announced today that it will report its first quarter 2026 financial results on Tuesday, May 12, 2026 before the U.S. financial markets open.

The Company will host a conference call and webcast on May 12, 2026 at 8:00 a.m. Eastern Time to discuss the results of the quarter ended March 31, 2026 and hold a question and answer session at the end of the call. The toll-free number to call for this teleconference is 888-506-0062 (international callers: 973-528-0011) and the access code is 931324. A telephonic replay of the conference call will be available through Tuesday, May 26, 2026, by dialing 877-481-4010 (international callers: 919-882-2331) and entering the replay passcode: 53818.

A live webcast of Sanara’s conference call is accessible by clicking here and will be made available under the ”Events” section of the Company’s Investor Relations website, https://ir.sanaramedtech.com/. An online replay will be available for approximately one year following the conclusion of the live broadcast.

About Sanara MedTech Inc.

Sanara MedTech Inc. is a medical technology company focused on developing and commercializing transformative technologies to improve clinical outcomes and reduce healthcare expenditures in the surgical market. The Company develops, markets and distributes surgical products to surgeons at hospitals and surgical centers. Each of the Company’s products and technologies are designed to achieve the goal of providing better clinical outcomes at a lower overall cost for patients. Sanara’s products are primarily sold in the North American surgical tissue repair market. Sanara markets and distributes CellerateRX® Surgical Activated Collagen® Powder, BIASURGE® Advanced Surgical Solution, FORTIFY TRG® Tissue Repair Graft and FORTIFY FLOWABLE® Extracellular Matrix, as well as a portfolio of advanced biologic products including: ACTIGEN® Verified Inductive Bone Matrix, ALLOCYTE® Plus Advanced Viable Bone Matrix, BiFORM® Bioactive Moldable Matrix and TEXAGEN® Amniotic Membrane Allograft to the surgical market. The Company believes it can drive its pipeline from concept to preclinical and clinical development while meeting quality and regulatory requirements. The Company strives to be one of the most innovative and comprehensive providers of effective surgical solutions and is continually seeking to expand its offerings for patients requiring treatments in the United States. For more information, please visit SanaraMedTech.com.

Investor Relations Contact:

Jack Powell or Mike Piccinino, CFA
ICR Healthcare
[email protected]