Market Newsdesk

TORONTO, May 06, 2026 (GLOBE NEWSWIRE) — Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos”), an innovative global cannabis company, announced today that Spinach STIX^®, its latest innovation in its popular line-up of Spinach^® pre-rolls, is now available in more provinces across Canada. Spinach STIX^® is the brand’s first cylindrical-style pre-roll, designed to meet surging consumer interest in this highly sought-after format in the pre-roll category¹.

The pre-roll category remains one of the largest and most popular in the Canadian cannabis market, accounting for more than 33% of national retail dollar sales¹. Nationally, the demand for cylindrical-style pre-rolls, which represented more than $17 million in Canadian retail sales in the pre-roll category in March 2026¹, is driven by consumer demand for pre-rolls that deliver a portable and compact design, an even and consistent burn, and a balanced, smooth smoking experience.

“Introducing Spinach STIX^® into more provinces across Canada allows us to meet evolving consumer preferences by offering an alternative, sleek pre-roll option for consumers to enjoy the strains they love most from our portfolio,” said Mike Gorenstein, Chairman, President and CEO of Cronos. “We remain focused on optimizing our lineup of fantastic, high-quality products that have made Spinach^® one of the top and most reliable cannabis brands in Canada.”

Spinach STIX^® are available in the following curated selection of Cronos’ top-performing strains:

• Spinach STIX^® GMO Cookies
  • The Spinach^® brand’s #1 flower strain, featuring sweet and savory flavor notes
  • Indica | THC: 25%+ | 10×0.4g
• Spinach STIX^® Sour Chem
  • Featuring classic gasoline, chemical, and zesty citrus notes
  • Sativa | THC: 26%+ | 10×0.4g
• Spinach STIX^® Space Cake
  • Featuring berry, nutty, and citrusy flavors
  • Hybrid | THC: 24%+ | 10×0.4g

Spinach STIX^® pre-rolls are available now in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland, Nova Scotia, Ontario, and Saskatchewan. For more information and product availability, visit https://spinachcannabis.com/. To learn more about Spinach STIX^® and to stay up-to-date on Spinach^® products, follow @spinachwithfriends on Instagram.

¹
Hifyre Retail Analytics – National Retail Dollar
s
–
March
2026

About Cronos Group Inc. 
Cronos is an innovative global cannabis company focused on scaling leading consumer goods products through R&D and innovation. With a passion to responsibly elevate the consumer experience, Cronos is building an iconic brand portfolio. Cronos’ diverse international brand portfolio includes Spinach^®, PEACE NATURALS^®, LIT^®, and Lord Jones^®. For more information about Cronos and its brands, please visit: thecronosgroup.com. 

Forward-looking Statements
This press release may contain information that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws and court decisions (collectively, “Forward-looking Statements”). All information contained herein that is not clearly historical in nature may constitute Forward-looking Statements. In some cases, Forward-looking Statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify Forward-looking Statements. Some of the Forward-looking Statements contained in this press release include statements about expanded availability of Spinach STIX^® across Canadian provinces; continued consumer demand for cylindrical-style pre-rolls and the pre-roll category generally; anticipated consumer response to Spinach STIX^® and its design attributes; the Company’s intent to meet evolving consumer preferences through product format innovation; the Company’s focus on expanding and refining the Spinach^® product lineup; the continued positioning of Spinach^® as a top and reliable cannabis brand in Canada; the Company’s innovation strategy and development of high-quality consumer goods products; and Cronos’ intention to build an international iconic brand portfolio and develop disruptive intellectual property by advancing cannabis research, technology and product development. Forward-looking Statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks. Financial results, performance or achievements expressed or implied by those Forward-looking Statements and the Forward-looking Statements are not guarantees of future performance. A discussion of some of the material risks applicable to the Company can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, which has been filed on SEDAR+ and EDGAR and can be accessed at www.sedarplus.ca and www.sec.gov/edgar, respectively. Any Forward-looking Statement included in this press release is made as of the date of this press release and, except as required by law, Cronos disclaims any obligation to update or revise any Forward-looking Statement. Readers are cautioned not to put undue reliance on any Forward-looking Statement. 
 
For further information, please contact:
 
Media Relations Contact:
Emily Whalen
Communications
Tel: (416) 504-0004
[email protected]
 
Investor Relations Contact:
Harrison Aaron
Investor Relations
Tel: (416) 504-0004
[email protected]

SANTA CLARA, Calif., May 06, 2026 (GLOBE NEWSWIRE) — Applied Materials, Inc. today announced that members of its management team will participate in fireside chats at upcoming investor conferences.

Tim Deane, Senior Vice President, Applied Global Services, will participate at the J.P. Morgan Global Technology, Media and Communications Conference on Wednesday, May 20 beginning at 5:00 a.m. PT / 8:00 a.m. ET.

Gary Dickerson, President and CEO, will participate at the Bernstein Strategic Decisions Conference on Thursday, May 28 beginning at 6:00 a.m. PT / 9:00 a.m. ET.

Brice Hill, Senior Vice President and CFO, will participate at the BofA Securities Global Technology Conference on Tuesday, June 2 beginning at 8:40 a.m. PT / 11:40 a.m. ET.

A live audio webcast of each session will be available on the Applied Materials website at: https://ir.appliedmaterials.com with a replay available the same day.

About Applied Materials

Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions that are at the foundation of virtually every new semiconductor and advanced display in the world. The technology we create is essential to advancing AI and accelerating the commercialization of next-generation chips. At Applied, we push the boundaries of science and engineering to deliver material innovation that changes the world. Learn more at www.appliedmaterials.com.

Contact:

Ricky Gradwohl (editorial/media) 408.235.4676
Mike Sullivan (financial community) 408.986.7977

• Net sales of
  $7.4
  billion, an increase of
  10.7%
• Net income of
  $239
  million, a decrease of
  25.8%
• Adjusted EBITDA
  
  ¹
  
  of
  $776
  million, a decrease of
  10.6%
• Raising full year 2026 Organic Sales
  
  ²
  
  guidance range to 8.5% to 9.5%

NORTHFIELD, Ill., May 06, 2026 (GLOBE NEWSWIRE) — Medline Inc. (“Medline” or the “Company”) (Nasdaq: MDLN), the largest provider of medical-surgical (“med-surg”) products and supply chain solutions serving all points of care³, today reported its operating results for the three months ended March 28, 2026.

“We started 2026 with strong momentum—growing with our existing customers, executing implementations at scale and winning new customers,” said Jim Boyle, chief executive officer of Medline. “This performance gives us confidence to raise our full year Organic Sales guidance while continuing disciplined investments in our people, infrastructure and capabilities to support our strong customer demand and position Medline for sustained growth.”

First
Quarter
2026
Results

First quarter 2026 net sales increased 10.7% to $7.4 billion, compared to $6.6 billion in the first quarter 2025, with Organic Sales¹ increasing 10.1%. This was primarily driven by implementation of new customer signings from 2025 and existing customer growth.

First quarter 2026 net income decreased 25.8% to $239 million, compared to $322 million in the first quarter 2025, primarily driven by higher costs of goods sold including the impact of tariffs, higher operating expenses to support new customer growth and an employee bonus related to the Company’s IPO. This was partially offset by higher net sales and lower interest expense.

First quarter 2026 Adjusted EBITDA¹ decreased 10.6% to $776 million, compared to $868 million in the first quarter 2025, primarily driven by higher costs of goods sold including the impact of tariffs and higher operating expenses to support new customer growth, partially offset by higher net sales.

Diluted earnings per share and Adjusted Diluted EPS¹ were $0.16 and $0.33, respectively.

Net cash provided by operating activities in the first quarter 2026 was $412 million, driven by net income, excluding the impact of non-cash items, partially offset by changes in working capital primarily due to increased trade accounts receivable related to sales growth and increased inventories.

Free Cash Flow¹ in the first quarter 2026 was $316 million, driven by net cash provided by operating activities, partially offset by capital expenditures, primarily related to continued enhancements and automation in the Company’s distribution centers and investments in its kitting manufacturing facilities.

2026 Guidance

The Company is increasing its full year 2026 outlook for Organic Sales² growth to 8.5% to 9.5%, compared to its previous outlook of 8% to 9%, and is maintaining its Adjusted EBITDA² outlook of $3.5 to $3.6 billion.

Webcast and Conference Call Instructions

The Company will host a live conference call and question and answer session with investors and analysts on May 6, 2026, at 8:30 a.m. CT / 9:30 a.m. ET to discuss its first quarter 2026 earnings results. The webcast can be accessed through Medline’s Investor Relations website at ir.medline.com. A replay of the call will be available following the event through the same website.

End Notes and Use of Non-GAAP Financial Measures

Certain amounts and percentages presented in this press release have a rounding element. As a result, the sum of the components may not equal the totals due to rounding.

(1)	Organic Sales, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow, and Net Leverage are non-GAAP financial measures. See discussion of these measures and reconciliations to GAAP at the end of this press release for more information.
(2)	Guidance for Adjusted EBITDA and Organic Sales is provided on a non-GAAP basis only because certain information necessary to calculate the most comparable GAAP measure is unavailable due to the uncertainty and inherent difficulty of predicting the occurrence and the future financial statement impact of such items impacting comparability, including, but not limited to, inventory-related adjustments, stock-based compensation, litigation (gains) charges, net, transaction-related costs, the impact of currency, and other non-core (gains) charges, among other items. Therefore, as a result of the uncertainty and variability of the nature and amount of future adjustments, which could be significant, the Company is unable to provide a reconciliation of these measures with reasonable certainty and without unreasonable effort.
(3)	Based on our 2025 net sales relative to the publicly reported net sales of med-surg products by companies that are both med-surg manufacturers and distributors.

Forward Looking Statements

This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. Words such as “anticipate,” “assume,” “believe” “contemplate,” “continue,” “could,” “estimate,” “expect,” “foreseeable,” “intend,” “may,” “plan,” “potentially,” “predict,” “project,” “seek,” “should,” “will,” or “would,” or similar conditional or future expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements related to the Company’s industry, business strategy, costs, and cost savings, goals and expectations, market position, future operations, margins, profitability, annual guidance, and other financial and operating information. The forward-looking statements are based on management’s current expectations and are subject to various risks, uncertainties, and changes in circumstances, many of which are beyond the Company’s control, that could cause actual results to differ materially.

Factors that may cause actual results to differ from expected results include, but are not limited to inherent risks in the Company’s global operations; the Company’s ability to derive fully the anticipated benefits from its existing or future acquisitions, joint ventures, investments, dispositions, or other strategic transactions; consolidation in the healthcare industry; competition and accelerating pricing pressure and changes in technology; changes to the U.S. and global healthcare environments; increases in shipping costs or service issues with the Company’s third-party shippers; significant challenges or delays in the Company’s sourcing of new products and technologies; the Company’s concentration in and dependence on certain healthcare provider customers and Group Purchasing Organizations; the Company’s dependence on the proper functioning of its critical facilities and distribution networks; quality problems, recalls and product liability claims; the Company’s failure to establish and maintain Prime Vendor relationships; increased pressure to maintain or decrease the price of the Company’s goods and services; failure by or loss of a third-party manufacturer or supplier or other manufacturing or supply-related impacts; the Company’s reliance on the proper function, security, and availability of its information technology systems and data, as well as those of third parties throughout its global supply chain and the impact of a breach, cyber-attack, or other disruption to these systems or data; the Company’s ability to comply with extensive and complex laws and governmental regulations and the cost of any adverse regulatory action; the Company’s use or its third-party service providers’ or business partners’ use of artificial intelligence, automated decision-making and machine learning technologies and the evolving regulatory framework in this area; the Company’s ability to comply with laws and regulations relating to reimbursement of healthcare goods and services; uncertain global and domestic macro-economic and political conditions, including as a result of global geopolitical conflicts and tensions, such as the ongoing conflicts in Ukraine and the Middle East; the Company’s substantial indebtedness and the significant operating and financial restrictions on the Company’s subsidiaries imposed by the Company’s debt agreements; the dual class structure of the Company’s common stock; the volatility of the market price of the Company’s Class A common stock; and other factors.

The Company disclaims any intent or obligation to update, revise, or withdraw any forward-looking statement in this press release, except as required by applicable law or regulation.

The Company uses its investor relations website at ir.medline.com, press releases, public conference calls and webcasts, and social media as routine channels of distribution to communicate important, and often material, information about Medline to investors and the public, including information about its financial performance and results, analyst and investor presentations, investor days, products, solutions, sustainability initiatives, and corporate governance practices. You are encouraged to follow these channels, in addition to our SEC filings, for timely information about the Company. The information on the Company’s websites is not part of this press release and is not incorporated by reference into any filings the Company makes with the SEC.

Non-GAAP Financial Measures

The non-GAAP financial measures provided in this press release should be viewed in addition to, and not as an alternative for, results prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

To supplement the financial information provided, the Company has presented Organic Sales, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, Adjusted Diluted EPS, Free Cash Flow, and Net Leverage, which are considered non-GAAP financial measures. The non-GAAP financial measures presented may differ from similarly titled non-GAAP financial measures presented by other companies, and other companies may not define these non-GAAP financial measures in the same way. These measures are not substitutes for their comparable GAAP financial measures, such as net income/(loss), net income margin, diluted earnings per share, net cash from operating activities, net sales, or other measures prescribed by GAAP, and there are limitations to using non-GAAP financial measures.

Management uses these non-GAAP financial measures to assist in comparing the Company’s performance on a consistent basis for purposes of business decision making by removing the impact of certain items that management believes do not directly reflect the Company’s ongoing operating performance. The Company believes Organic Sales, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income, and Adjusted Diluted EPS provide important comparability of ongoing operating performance, allowing investors and management to assess the Company’s operating performance on a consistent basis. The Company believes Free Cash Flow and Net Leverage provide a measure of the Company’s core operating performance, the cash-generating capabilities of the Company’s business operations, and are factors used in determining the Company’s borrowing capacity and the amount of cash available for debt repayments, acquisitions, and other corporate purposes.

Management believes that presenting the Company’s non-GAAP financial measures is useful to investors because it (i) provides investors with meaningful supplemental information regarding financial performance by excluding certain items that we do not consider indicative of our ongoing operating performance, (ii) permits investors to view performance using the same tools that management uses to budget, make operating and strategic decisions, and evaluate historical performance, and (iii) otherwise provides supplemental information that may be useful to investors in evaluating the Company’s results. The Company believes that the presentation of these non-GAAP financial measures, when considered together with the corresponding GAAP financial measures and the reconciliations to those measures, provides investors with additional understanding of the factors and trends affecting the Company’s business than could be obtained absent these disclosures.

Definitions



Organic Sales

is defined as net sales excluding, when they occur, the impact of acquisitions, divestitures, and changes in foreign exchange rates from the net sales changes. The changes in foreign currency exchange rates from the net sales changes are calculated by translating current period GAAP results at the prior period foreign currency exchange rates and comparing these amounts to the current period GAAP results at the current period foreign currency exchange rates.

Adjusted EBITDA

is defined as net income (loss) adjusted for (i) interest expense, net, (ii) provision for income taxes, (iii) depreciation and amortization, (iv) inventory-related adjustments, (v) stock-based compensation, (vi) litigation (gains) charges, net, (vii) transaction-related costs, and (viii) other non-core (gains) charges. Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by net sales.

Adjusted Net Income

is defined as net income (loss) adjusted for (i) intangible asset amortization, (ii) inventory-related adjustments, (iii) stock-based compensation, (iv) litigation (gains) charges, net, (v) transaction-related costs, (vi) other non-core (gains) charges, and (vii) tax impacts related to non-GAAP adjustments, noncontrolling interests conversion, and retained tax receivable agreement (“TRA”) benefits. Adjusted Diluted EPS is defined as Adjusted Net Income divided by adjusted weighted-average number of common stock, diluted. The adjusted weighted shares calculation assumes the impact of certain antidilutive securities that were excluded from the U.S. GAAP diluted earnings per share.

Free Cash Flow

is defined as net cash provided by/(used for) operating activities less net capital expenditures. The use of this non-GAAP measure does not imply or represent the residual cash flow for discretionary expenditures since the Company has certain non-discretionary obligations such as debt service that are not deducted from the measure.

Net Leverage

is defined as net debt (total debt less cash, cash equivalents and short-term investments) divided by Adjusted EBITDA.

Medline

Medline is the largest provider of medical-surgical products and supply chain solutions serving all points of care. Through its unique offering of world-class products, supply chain resilience and clinical practice expertise, Medline delivers improved clinical, financial and operational outcomes. Headquartered in Northfield, Illinois, the Company employs more than 45,000 people worldwide and operates in more than 100 countries. To learn more about how Medline makes healthcare run better, visit www.medline.com.

Investor Relations:

Karen King
Global Head of Investor Relations

Patrick Flaherty
Director, Investor Relations

(847) 247-7222
[email protected]

Media Relations:

Ben Fox
Vice President, Corporate Communications
(224) 327-9999
[email protected]

Financial Tables

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(in millions, except per share amounts)		Three months ended
		March 28, 2026				March 29, 2025				$ Change				% Change
Net sales		$	7,352			$	6,644			$	708			10.7	%
Cost of goods sold			5,511				4,820				691			14.3	%
Gross profit			1,841				1,824				17			0.9	%
Gross margin %			25.0	%			27.5	%
Operating expense
Selling, general and administrative expenses			1,228				1,070				158			14.8	%
Amortization of intangible assets			176				175				1			0.6	%
Other operating expenses			15				8				7			87.5	%
Total operating expense			1,419				1,253				166			13.2	%
Operating income			422				571				(149	)		(26.1	)%
Operating margin %			5.7	%			8.6	%
Other expense
Interest expense, net			(136	)			(210	)			74			(35.2	)%
Other income, net			1				—				1			NM	(1)
Foreign exchange gain (loss), net			4				(23	)			27			NM	(1)
Total other expense			(131	)			(233	)			102			(43.8	)%
Income before income taxes			291				338				(47	)		(13.9	)%
Provision for income taxes			52				16				36			NM	(1)
Net income			239				322				(83	)		(25.8	)%
Net income %			3.3	%			4.8	%
Net income attributable to noncontrolling interests			110				—				110			NM	(1)
Net income attributable to Medline Inc.		$	129			$	322			$	(193	)		(59.9	)%
Earnings per share attributable to Medline Inc.
Basic		$	0.16			N/A
Diluted		$	0.16			N/A
Weighted-average number of Class A common stock outstanding
Basic			819			N/A
Diluted			825			N/A
(1) Not Meaningful

CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions, except per share amounts)		As of March 28, 2026 (Unaudited)				As of December 31, 2025
ASSETS
Current assets
Cash and cash equivalents		$	2,236			$	1,939
Trade accounts receivable, net of allowance for credit losses of $148 and $152 as of March 28, 2026 and December 31, 2025, respectively			3,674				3,533
Inventories			4,807				4,769
Other current assets			463				438
Total current assets			11,180				10,679
Property, plant, and equipment, net			4,758				4,778
Other non-current assets
Goodwill			8,076				8,079
Intangible assets, net			13,717				13,893
Deferred tax assets			837				583
Other long-term assets			446				472
Total other non-current assets			23,076				23,027
Total assets		$	39,014			$	38,484
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Current portion of long-term borrowings and other short-term borrowings		$	77			$	77
Accounts payable			932				961
Accrued expenses and other current liabilities			1,527				1,452
Total current liabilities			2,536				2,490
Non-current liabilities
Long-term borrowings, less current portion			12,495				12,484
Tax receivable agreement liability			4,009				3,542
Other long-term liabilities			625				682
Total non-current liabilities			17,129				16,708
Total liabilities		$	19,665			$	19,198
Commitments and contingencies
Stockholders’ equity
Class A common stock, par value $0.0001 per share; 50,000 shares authorized; 846 and 812 shares issued and outstanding as of March 28, 2026 and December 31, 2025, respectively			—				—
Class B common stock, par value $0.0001 per share; 50,000 shares authorized; 468 and 502 shares issued and outstanding as of March 28, 2026 and December 31, 2025, respectively			—				—
Preferred stock, par value $0.0001; 5,000 shares authorized; no shares issued and outstanding			—				—
Additional paid-in capital			11,132				10,717
Retained earnings (accumulated deficit)			122				(7	)
Accumulated other comprehensive income			18				27
Total Medline Inc. stockholders’ equity			11,272				10,737
Noncontrolling interests			8,077				8,549
Total stockholders’ equity			19,349				19,286
Total liabilities and stockholders’ equity		$	39,014			$	38,484

Condensed Consolidated Cash Flow Highlights (unaudited)
($ millions)		Three months ended
		March 28, 2026				March 29, 2025				$ Change				% Change
Net cash provided by operating activities		$	412			$	682			$	(270	)		(39.6	)%
Net cash used in investing activities			(96	)			(92	)			(4	)		4.3	%
Net cash used in financing activities			(13	)			(9	)			(4	)		44.4	%
Effect of exchange rate changes			(7	)			9				(16	)		NM	(1)
Net change in cash, cash equivalents and restricted cash		$	296			$	590			$	(294	)		(49.8	)%
(1) Not Meaningful

Segment Net Sales and Adjusted EBITDA Margin (unaudited)
($ millions, except percentages)		Three months ended
		March 28, 2026				March 29, 2025				$ Change				% Change
Medline Brand segment
Net sales		$	3,465			$	3,264			$	201			6.2	%
Adjusted EBITDA			765				830				(65	)		(7.8	)%
Adjusted EBITDA Margin			22.1	%			25.4	%
Supply Chain Solutions segment
Net sales		$	3,887			$	3,380			$	507			15.0	%
Adjusted EBITDA			187				182				5			2.7	%
Adjusted EBITDA Margin			4.8	%			5.4	%
Corporate & Other(1)		$	(176	)		$	(144	)		$	(32	)		22.2	%
(1) The organizational structure includes Corporate & Other which consists of expenses related to centralized corporate functions, such as finance, information technology, legal, human resources, and internal audit.

Reconciliation of Net Sales to Organic Sales (unaudited)
		Three months ended
($ millions, except percentages)		Amount				Percentage
Net sales for period ended March 28, 2026		$	7,352
Net sales for period ended March 29, 2025			6,644
Net sales growth			708			10.7	%
Impact from changes in foreign exchange rates			34			0.6	%
Organic Sales		$	674			10.1	%

Reconciliation of Net Income to Adjusted EBITDA and Net Leverage (unaudited)
		Trailing Twelve months ended				Three months ended
($ millions, except percentages)		March 28, 2026				March 28, 2026				March 29, 2025				$ Change				% Change
Net income		$	1,074			$	239			$	322			$	(83	)		(25.8	)%
Interest expense, net			738				136				210				(74	)		(35.2	)%
Provision for income taxes			127				52				16				36			NM	(5)
Depreciation and amortization			1,018				254				247				7			2.8	%
Inventory-related adjustments(1)			91				29				21				8			38.1	%
Stock-based compensation expense			80				23				22				1			4.5	%
Litigation charges (gains), net(2)			1				—				(34	)			34			NM	(5)
Transaction-related costs(3)			81				35				12				23			NM	(5)
Other non-core charges(4)			165				8				52				(44	)		(84.6	)%
Adjusted EBITDA		$	3,375			$	776			$	868			$	(92	)		(10.6	)%
Net income margin			3.7	%			3.3	%			4.8	%
Adjusted EBITDA Margin			11.6	%			10.6	%			13.1	%
Total debt		$	12,755
Less: Cash and cash equivalents			2,236
Net debt		$	10,519
Net Leverage			3.1
(1) Represents inventory adjustment associated with non-cash last-in, first-out reserves. (2) For the three months ended March 29, 2025, represents a settlement adjustment of $(8) million related to the ethylene oxide litigation, $(30) million related to settlement of an intellectual property dispute, and $4 million related to other legal settlements. (3) For the three months ended March 28, 2026 and March 29, 2025, respectively, includes $27 million and $4 million of expenses related to our IPO and subsequent offerings, consisting of legal, accounting, and advisory fees, as well as one-time employee bonuses, which are subject to an ongoing service requirement, and $8 million and $8 million of acquisition and integration-related costs and adjustments. (4) For the three months ended March 28, 2026 and March 29, 2025, respectively, includes $9 million and $5 million of other project costs; $(4) million and $22 million of realized and unrealized foreign exchange and investment (gains) losses; and $(4) million and $24 million credit (recoveries) loss expense related to certain customer receivables. The three months ended March 28, 2026 also includes $8 million of losses on disposal of assets and exits. (5) Not Meaningful.

Reconciliation of Net Income to Adjusted Net Income and Adjusted Diluted EPS (unaudited)
		Three months ended
(in millions, except number of shares and per share amounts)		March 28, 2026
Net income		$	239
Intangible asset amortization			176
Inventory-related adjustments(1)			29
Stock-based compensation expense			23
Transaction-related costs(2)			35
Other non-core charges(3)			8
Tax effect on non-GAAP adjustments(4)			(65	)
Tax provision on conversion of noncontrolling interests(5)			(19	)
Tax impact of retained TRA benefits(6)			7
Adjusted Net Income		$	433
Weighted-average number of Class A common stock outstanding (Diluted)			824,836,037
Exchange of Class B common stock(7)			492,676,526
Adjusted weighted-average common stock outstanding (Diluted)			1,317,512,563
Diluted earnings per share		$	0.16
Adjusted Diluted EPS		$	0.33
(1) Represents inventory adjustment associated with non-cash last-in, first-out reserves. (2) For the three months ended March 28, 2026 and March 29, 2025, respectively, includes $27 million and $4 million of expenses related to our IPO and subsequent offerings, consisting of legal, accounting, and advisory fees, as well as one-time employee bonuses, which are subject to an ongoing service requirement, and $8 million and $8 million of acquisition and integration-related costs and adjustments. (3) For the three months ended March 28, 2026 and March 29, 2025, respectively, includes $9 million and $5 million of other project costs; $(4) million and $22 million of realized and unrealized foreign exchange and investment (gains) losses; and $(4) million and $24 million credit (recoveries) loss expense related to certain customer receivables. The three months ended March 28, 2026 also includes $8 million of losses on disposal of assets and exits. (4) Non-GAAP adjustments are tax effected using an estimated effective tax rate of 25%. Stock-based compensation expense related to partnership units is not tax deductible and, therefore, not tax effected. (5) Represents incremental tax provision assuming 100% ownership by Medline Inc., using an estimated effective tax rate of 25%, applied to the income before income taxes on our unaudited Condensed Consolidated Statements of Income. (6) Represents the 10% benefit that we retain for the shared tax benefits related to the TRA. (7) Assumes the full exchange of the units held by noncontrolling interests for shares of Class A common stock.

Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow (unaudited)
($ millions)		Three months ended
		March 28, 2026				March 29, 2025				$ Change				% Change
Net cash provided by operating activities		$	412			$	682			$	(270	)		(39.6	)%
Net capital expenditures			(96	)			(98	)			2			(2.0	)%
Free Cash Flow		$	316			$	584			$	(268	)		(45.9	)%

DALLAS, May 06, 2026 (GLOBE NEWSWIRE) — ASP Isotopes Inc. (NASDAQ: ASPI) (“ASPI”) today announced that Quantum Leap Energy LLC (“QLE” or the “Company”), a wholly-owned subsidiary of ASPI dedicated to advancing innovative technologies and processes across critical segments of the fission and fusion nuclear fuel cycle, has appointed Dr. Peter S. Fiske to QLE’s Strategic Advisory Board (SAB).

“QLE is intentionally building the leadership, advisory depth, and execution discipline required to scale throughout government and commercial nuclear energy markets,” said Dr. Ryno Pretorius, Chief Executive Officer of QLE. “Dr. Fiske brings firsthand experience from the highest levels of government engagement and technology commercialization. His perspectives will directly inform how we prioritize, engage, and execute as demand accelerates for trusted, innovative solutions supporting U.S. and allied clean energy missions.”

Dr. Fiske brings extensive experience in technology commercialization, advanced materials development, and strategic partnerships with government agencies and institutional customers. He was the founding Executive Director of the National Alliance for Water Innovation (NAWI), the U.S. Department of Energy’s 5-year, $110M Energy-Water Innovation Hub at Lawrence Berkeley National Laboratory. In this role, he oversaw early-stage applied research focused on dramatically lowering the cost and energy requirements of water treatment and reuse through modular, scalable designs.

“I’ve spent my career working at the intersection of innovation, policy, and complex technical challenges,” said Dr. Fiske. “QLE is operating in a space where trusted technology and credibility matter. I look forward to contributing decades of experience as the Company expands its presence supporting government and commercial decision-making with advanced nuclear fuel solutions.”

The appointment comes at a pivotal moment as QLE accelerates its organizational development and strategic initiatives, following the recent formation of its Strategic Advisory Board, the appointment of Dr. Nate Salpeter as Chief Technology Officer, and the announcement of a strategic collaboration with the University of Bristol for the design of a state-of-the-art lithium laser research facility in the UK. Dr. Fiske’s addition to the SAB underscores QLE’s growing momentum as governments and energy sector partners increasingly rely on advanced nuclear fuel technologies to support clean energy goals, energy security, and mission-critical infrastructure.

About Dr. Peter S. Fiske

During his career, Dr. Fiske has served as a trusted advisor on a wide range of high-profile technology commercialization initiatives, including matters involving energy, advanced materials, and government funding. Previously, he served as Chief Executive Officer of PAX Water Technologies, Inc., where he pioneered the use of biomimicry to develop innovative, energy-efficient technologies for municipal water systems. He also co-founded RAPT Industries, Inc., a pioneer in plasma processing of optics and semiconductors, successfully licensing technology to major semiconductor equipment manufacturers and leading the company’s first product sales.

Dr. Fiske led a research team at Lawrence Livermore National Laboratory with applications to materials science and energy storage, and served as a White House Fellow, working as Special Assistant to the Secretary of Defense for Special Projects where he led a major personnel policy reform initiative for the Pentagon. He holds a Ph.D. in Geological and Environmental Sciences from Stanford University and an M.B.A. from the Haas School of Business at the University of California, Berkeley. He is also a founding faculty member of the Department of Energy’s I-Corps Program and has been widely recognized for his strategic insight and leadership in technology entrepreneurship.

Dr. Fiske’s established network within defense contracting, government procurement, and energy sector partnerships positions him to identify critical funding opportunities through SBIR/STTR programs, Department of Energy initiatives, and Defense Innovation Unit collaborations, while his proven track record in government relations provides critical capabilities for building sustainable revenue pipelines with institutional customers.

About Quantum Leap Energy

Quantum Leap Energy is a development stage nuclear fuels company dedicated to advancing innovative technologies and processes across critical segments of the nuclear fuel cycle. The Company focuses on both front-end activities, including uranium conversion, enrichment of uranium-235 for nuclear fuel production (HALEU, LEU+ and LEU), and isotopic separation of lithium-6 and lithium-7, as well as back-end radioactive waste treatment technologies. Through exclusive global rights to proprietary Aerodynamic Separation Process (ASP) and laser-based Quantum Enrichment (QE) technologies, Quantum Leap Energy aims to address perceived gaps in the nuclear fuel supply chain for advanced nuclear reactors, small modular reactors, and fusion systems. The Company has established strategic partnerships or commercial initiatives and relationships with industry leaders including TerraPower, Fermi America, and the South Africa Nuclear Energy Corporation (Necsa) to accelerate the commercialization of critical isotopes essential for next-generation nuclear energy systems. For additional information, please visit: https://www.qleapenergy.com/.

About ASP Isotopes Inc.

ASP Isotopes is an advanced materials company dedicated to the development of a differentiated isotope enrichment platform to strengthen global supply chain access to critical materials used in nuclear medicine, next-generation semiconductors, and nuclear energy. The Company’s proprietary technologies, the Aerodynamic Separation Process (“ASP technology”) and Quantum Enrichment (“QE technology”), are designed to enable the production of isotopes for a range of industrial and advanced technology applications. ASP Isotopes operates isotope enrichment facilities in Pretoria, South Africa, focused on the enrichment of low atomic mass elements, or light isotopes. For more information, please visit www.aspisotopes.com.

Forward-Looking Statements

Statements contained herein relating to future plans, results, performance, expectations, achievements and the like are considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, the commencement of research, development and/or production activities, the future of the company’s enrichment technologies as applied to uranium enrichment, QLE’s anticipated growth strategies and anticipated trends in QLE’s business, statements relating to QLE’s strategic partnerships or commercial initiatives and relationships with international partners, and statements we make regarding expected operating results, such as future revenues and prospects from the potential commercialization of isotopes, future performance under contracts, and our strategies for product development, engaging with potential customers, market position, and financial results. These forward-looking statements involve known and unknown risks, uncertainties, and other factors, many of which may be beyond QLE’s or ASPI’s control, that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by any forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. There are many important factors that could cause QLE’s actual results and financial condition to differ materially from those indicated in the forward-looking statements, including, but not limited to: the potential impact of laws or government regulations or policies in South Africa, the United Kingdom or elsewhere; the outcomes of various strategies and projects undertaken by the Company, including the Company’s initiative to commence enrichment of uranium in South Africa and the Company’s discussions with nuclear regulators in South Africa and the United Kingdom; whether we succeed in obtaining permissions and regulatory approvals required to test and develop enrichment technologies on uranium in South Africa, the United Kingdom or elsewhere; whether a market for HALEU is established; technological changes that could render our enrichment technologies uncompetitive or obsolete; our future capital requirements and sources and uses of cash; our ability to obtain funding for our operations and future growth; our reliance on the efforts of third parties; our ability to obtain permissions and regulatory approvals for the production and sale of enriched uranium; the financial terms of any current and future commercial arrangements; our ability to complete certain transactions and realize anticipated benefits from acquisitions and contracts; dependence on our intellectual property (IP) rights and certain IP rights of third parties; and the competitive nature of our industry. All forward-looking statements speak only as of the date hereof. QLE and ASPI undertake no obligation to revise or update any forward-looking statements except as may be required by applicable law.

QLE Contact

[email protected]

ASPI Contact

[email protected] 

LAS VEGAS, May 06, 2026 (GLOBE NEWSWIRE) — VenHub Global, Inc. (NASDAQ: VHUB) (“VenHub” or the “Company”), a leader in fully autonomous Smart Store technology, today highlighted the significant progress the Company has made since its public market debut earlier this year.

Since beginning trading this year on Nasdaq under the ticker symbol “VHUB”, VenHub has continued to execute across several key areas of its growth strategy, including expanding its Las Vegas operating footprint, advancing its proprietary technology platform, securing new Smart Store deployment opportunities, strengthening its payments infrastructure, and earning third-party recognition for innovation in autonomous retail.

“Since becoming a public company, we have moved quickly to strengthen our foundation for a national scale rollout of our Smart Stores,” said Shahan Ohanessian, Founder and Chief Executive Officer of VenHub. “We have expanded our production capacity in Las Vegas, advanced our robotics, vision, security and payments capabilities, and continued to demonstrate that fully autonomous retail is no longer a concept. It is operating in the real world today.”

A major milestone in VenHub’s progress is the Company’s move into its second and significantly larger Las Vegas production and assembly facility, which enables expanded manufacturing capacity to support the growing demand for autonomous Smart Stores across the United States. The new facility operates alongside VenHub’s headquarters and existing Las Vegas operations, creating an expanded production hub that integrates engineering, manufacturing, testing and deployment preparation under one roof.

VenHub also announced agreements with multiple independent operators for six new autonomous Smart Store locations across the Las Vegas metropolitan area, with installations planned throughout this year in high-traffic, easily accessible environments. In addition, the Company has partnered with Circa Resort & Casino to bring a first-of-its-kind autonomous Smart Store experience to Circa’s guests, with a 66-foot deployment comprised of three VenHub autonomous Smart Stores operating as one integrated retail environment.

Addressing High-Traffic, High-Need Enterprise Verticals
VenHub’s roadmap for Smart Store deployments is focused on turning high-traffic, under-served locations in key enterprise verticals into 24/7 autonomous retail revenue without the hiring, scheduling, turnover, or shrink risk of traditional staffed retail. The Company’s enterprise strategy emphasizes six key verticals where its Smart Stores create value for operators, property owners and consumers: Transit & Airports; Campuses & Universities; Corporate & Government; Fuel & EV Charging; Venues & Entertainment; and Non-Fuel Convenience & Retail. VenHub’s Smart Stores are designed for rapid deployment across these environments and leverage robotics, real-time inventory systems and mobile-based checkout to deliver secure, always-on retail access.

Every VenHub target customer across these verticals is facing the same challenge of managing for higher costs and declining availability of retail labor that made traditional retail economically irrational. VenHub’s Smart Store solution fills the gaps that staffed retail cannot profitably address any longer.

Continuous Autonomous Retail Technology Innovation

The Company has also continued to advance its autonomous retail technology platform. In February, VenHub unveiled its Vision System, an AI and computer-vision-based system that automates shelf calibration, instantly generates real-time planograms, recognizes products placed on shelves, and enables dynamic merchandising based on time of day, product demand and consumer behavior. VenHub also introduced self-diagnosing robotics and Smart Health Monitoring across robotic arms, dynamic bins and intelligent refrigerators to help identify performance issues, support predictive maintenance and maximize Smart Store uptime.

In March, VenHub highlighted seven new technologies across smart retail infrastructure, display systems, autonomous retail operations and mobility, bringing its portfolio to 24 pending patent applications across multiple innovation pillars. The Company also detailed six patent-pending Advanced Security & Protection Systems designed to address theft and shrink, including security glass, advanced retail security tags, non-lethal deterrence systems and integrated surveillance with robotic countermeasures.

To support scalable commerce across its growing network, VenHub expanded its integration with Stripe, formalizing Stripe as the Company’s primary payments infrastructure partner. The expanded integration supports multiple payment methods, multi-currency transactions, digital wallets, contactless payments and advanced fraud prevention, while giving VenHub a standardized payments foundation for future Smart Store deployments.

VenHub’s unique solution powered by this technology has also been recognized by industry observers. The Company was named Most Innovative Retailer at the 2026 RTIH AI in Retail Awards and was later ranked in the top ten in the Retail category on Fast Company’s 2026 Most Innovative Companies list.

“VenHub is building the infrastructure for a new category of retail,” added Ohanessian. “Our focus is on execution: producing Smart Stores more efficiently, deploying into the right environments, and providing retail operators with a platform that can generate profitable revenue where a staffed solution could not.”

Expansion and Growth

As VenHub advances its growth strategy, the Company is focused on building a disciplined, scalable deployment pipeline across both enterprise partners and qualified independent operators. Enterprise sales cycles require additional time due to testing, customization, site-specific planning, procurement processes and integration requirements. VenHub views this as an important part of building durable, long-term relationships with large-scale partners across transit and airports, universities, corporate and government campuses, fuel and EV charging locations, venues and entertainment properties, and non-fuel convenience and retail environments.

Supporting this enterprise pipeline is a core focus for VenHub today. The Company is working closely with prospective partners to evaluate use cases, tailor Smart Store configurations, assess product mix and prepare for deployments that can meet the operational requirements of each environment. At the same time, VenHub will continue to evaluate qualified independent operators where such opportunities align with the Company’s operating standards, deployment priorities and long-term growth objectives.

About VenHub

VenHub designs and builds autonomous Smart Stores that operate 24/7 without on-site staff. Each store combines robotic automation, real-time inventory tracking, and mobile-based checkout to provide secure, convenient retail access. The company is headquartered in Las Vegas, Nevada.
To learn more, visit: www.VenHub.com

Safe Harbor Statement
VenHub Global, Inc. (“VenHub” or the “Company”), may make forward-looking statements regarding future events or the future financial performance of the Company in press releases, presentations, conference calls or other communications. These statements can be identified by terminology that includes “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates,” “intends,” “plans,” “targets,” or other words conveying future outcomes or projections.

Such forward-looking statements involve certain risks, uncertainties, and assumptions that are difficult to predict and beyond the Company’s control. Actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors, including but not limited to changes in general economic conditions, the Company’s ability to execute its business strategy, competitive pressures, unanticipated manufacturing or supply chain issues, compliance with regulatory requirements, and other risks detailed in the Company’s public filings with the Securities and Exchange Commission.

Nothing in these forward-looking statements should be regarded as a representation by VenHub or its management that the Company’s objectives or plans will be achieved. VenHub undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

VenHub Media and Investor Contact:

Alyssa Barry, Director of VenHub IR / PR
[email protected]
or
Richard Land, Alliance Advisors
[email protected]

– The approval of Beyonttra in Brazil is based on positive results from the Phase 3 ATTRibute-CM study, in which acoramidis demonstrated the most rapid benefit seen in any Phase 3 study of ATTR-CM to date, including:

–
By Month 1, numerically fewer cumulative cardiovascular events, including CVM or recurrent CVH, were observed with acoramidis compared to placebo

– A 42% reduction in composite ACM and recurrent CVH events relative to placebo at Month 30

– A 50% reduction in the cumulative frequency of CVH events relative to placebo at Month 30

– Acoramidis is the first and only approved ATTR-CM treatment in the U.S., EU, UK, Switzerland, Japan, and Brazil that all have a label specifying near-complete stabilization (≥90%)

PALO ALTO, Calif., May 06, 2026 (GLOBE NEWSWIRE) — BridgeBio Pharma, Inc. (Nasdaq: BBIO) (“BridgeBio” or the “Company”), a new type of biopharmaceutical company focused on genetic diseases, today announced the Brazilian Health Regulatory Agency (ANVISA) has granted marketing authorization for acoramidis, under the brand name BEYONTTRA, for the treatment of wild-type or variant transthyretin amyloidosis in adult patients with cardiomyopathy (ATTR-CM). Acoramidis is a selective small molecule, orally administered near-complete (≥90%) transthyretin (TTR) stabilizer.

“The ATTRibute-CM results represent a major advance for patients with ATTR-CM, who often face an earlier and more aggressive course of disease,” said Fábio Fernandes, M.D., Ph.D., Director at the Heart Institute of the Clinical Hospital of the University of São Paulo Medical School (HCFMUSP), and investigator in the trial. “For too long, this community has lived with limited options and delayed recognition of their condition. Seeing a therapy like acoramidis deliver significant reductions in cardiovascular-related hospitalizations, improvements in survival, and preservation of functional capacity and quality of life is profoundly encouraging. These results signal a transformative shift in how we can care for patients across Brazil.”

The approval in Brazil is based on results of the pivotal ATTRibute-CM Phase 3 study of acoramidis, which showed clear benefits on cardiovascular outcomes. ATTRibute-CM evaluated the efficacy and safety of acoramidis in 632 participants with symptomatic ATTR-CM, associated with either wild-type or variant TTR who were randomized 2:1 to receive acoramidis or placebo for 30 months. The study met its primary clinical endpoints at Month 30 by significantly reducing cardiovascular-related hospitalization, improving survival, and preserving functional capacity and quality of life for patients.

“The ANVISA approval of BEYONTTRA marks an important step forward for Brazilian patients living with ATTR-CM. It is a particularly meaningful advance for patients living in Brazil who have long faced limited options for this progressive, life-threatening disease,” said Jonathan Fox, M.D., Chief Medical Officer of BridgeBio Cardiorenal. “This authorization brings new hope to communities where ATTR-CM is increasingly recognized. This also reflects our commitment to ensuring that as many patients as possible in as many countries as possible have access to transformative care. We are profoundly grateful to the patients, families, investigators, and clinical partners whose courage and partnership made this milestone possible.”

Acoramidis was approved as Attruby^® by the U.S. FDA in November 2024 and was approved as BEYONTTRA by the European Commission in February 2025, the Japanese Ministry of Health, Labour, and Welfare (MHLW) Agency in March 2025, and the UK Medicines and Healthcare Products Regulatory Agency in April 2025 with all labels specifying near-complete stabilization of TTR. Acoramidis is also currently under review by other global regulatory agencies.

BridgeBio will work in partnership with Biopas, a Swixx BioPharma company with an established pharmaceutical commercialization platform in Latin America, to commercialize BEYONTTRA in Brazil. Commercialization efforts are expected to begin in the second half of 2026, ensuring that Brazilian patients with ATTR-CM gain access to acoramidis as quickly as possible.

About BEYONTTRA

BEYONTTRA is an orally administered near-complete (≥90%) stabilizer of transthyretin (TTR) indicated for the treatment of wild-type or variant transthyretin amyloidosis in adult patients with cardiomyopathy (ATTR-CM). Full prescribing information for Brazil will be available through ANVISA.

About Attruby

^®

(acoramidis)

INDICATION

Attruby is a transthyretin stabilizer indicated for the treatment of the cardiomyopathy of wild-type or variant transthyretin-mediated amyloidosis (ATTR-CM) in adults to reduce cardiovascular death and cardiovascular-related hospitalization.

IMPORTANT SAFETY INFORMATION

Adverse Reactions

Diarrhea (11.6% vs 7.6%) and upper abdominal pain (5.5% vs 1.4%) were reported in patients treated with Attruby versus placebo, respectively. The majority of these adverse reactions were mild and resolved without drug discontinuation. Discontinuation rates due to adverse events were similar between patients treated with Attruby versus placebo (9.3% and 8.5%, respectively).

About BridgeBio

BridgeBio Pharma, Inc. (BridgeBio; Nasdaq: BBIO) is a new type of biopharmaceutical company founded to discover, create, test, and deliver transformative medicines to treat patients who suffer from genetic diseases. BridgeBio’s pipeline of development programs ranges from early science to advanced clinical trials. BridgeBio was founded in 2015 and its team of experienced drug discoverers, developers and innovators are committed to applying advances in genetic medicine to help patients as quickly as possible. For more information visit bridgebio.com and follow us on LinkedIn, X, Facebook, Instagram, and YouTube.

BridgeBio Forward-Looking Statements

This press release contains forward-looking statements. Statements in this press release may include statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are usually identified by the use of words such as “anticipates,” “believes,” “continues,” “estimates,” “expects,” “hopes,” “intends,” “may,” “plans,” “projects,” “remains,” “seeks,” “should,” “will,” and variations of such words or similar expressions, or the negative of these terms or other comparable terminology. These words are intended to identify forward-looking statements, though not all forward-looking statements necessarily contain these identifying words. BridgeBio intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act.These forward-looking statements, including statements regarding the potential clinical and commercial benefits of acoramidis and the potential outcomes; expected timing of commercialization efforts; potential patient access to acoramidis; and expected timing and outcome of regulatory reviews and approvals by other global regulatory agencies, are based on the information currently available to BridgeBio and on assumptions BridgeBio has made. Although BridgeBio believes that its plans, intentions, expectations, and strategies as reflected in or suggested by these forward-looking statements are reasonable, BridgeBio can give no assurance that such plans, intentions, expectations, or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a number of risks, uncertainties, and assumptions, including, but not limited to, risks associated with the continued development and commercialization of acoramidis; the occurrence of adverse safety events; the ability to maintain regulatory approvals; the need for additional clinical data or analyses requested by regulatory authorities; whether future results will be consistent with prior clinical findings; BridgeBio’s reliance on third parties, including commercialization partners, and their ability to execute on commercialization and distribution activities; manufacturing, supply continuity, and quality obligations; pricing, reimbursement, market access, and adoption in Brazil and other markets; and the impacts of current macroeconomic and geopolitical events, including changing conditions from hostilities in Ukraine and in Israel and the Gaza Strip, and increasing rates of inflation and changing interest rates, on BridgeBio’s business operations and expectations. Additional risks are set forth in the “Risk Factors” section of BridgeBio’s most recent Annual Report on Form 10-K and other subsequent filings with the U.S. Securities and Exchange Commission. Except as required by applicable law, BridgeBio assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.

BridgeBio Media Contact:

Bubba Murarka, Executive Vice President, Corporate Development
[email protected]  
(650)-789-8220

BridgeBio Investor Contact:

Chinmay Shukla, Senior Vice President, Strategic Finance
[email protected]

PHILADELPHIA, May 06, 2026 (GLOBE NEWSWIRE) — Medicus Pharma Ltd. (NASDAQ: MDCX) (“Medicus” or the “Company”), a biotech/life sciences company focused on advancing the clinical development programs of novel and potentially disruptive therapeutics assets, today announced results from a pre-specified expanded dataset analysis demonstrating positive dose response from its Phase 2 SKNJCT-003 study evaluating safety and efficacy of Doxorubicin Microneedle Array (D-MNA) to treat nodular basal cell carcinoma (BCC) of the skin, the most common type of skin cancer.

These additional pre-specified analysis, build upon the previously reported positive topline results, provide expanded biological, histologic, and safety insights that further strengthen SkinJect’s therapeutic profile and future registrational discussions with the U.S. Food and Drug Administration (FDA). These additional findings are also consistent with prior Phase 1 clinical observations in the SKNJCT-001 study in March 2021, and interim analysis of SKNJCT-003 in March 2025, reinforcing reproducibility across studies.

SKNJCT-003 Study Design Overview (NCT06608238)::

The SKNJCT-003 (NCT06608238) clinical study was designed as a randomized, double-blind, three-arm Phase 2 study evaluating two dose levels of microneedle-mediated delivery of doxorubicin compared with a device-only control in patients with nodular basal cell carcinoma. It was a multi-center study designed to enroll 90 participants presenting with nodular type basal cell carcinoma. The participants were randomized 1:1:1 into three groups:

• Device-controlled group receiving P-MNA
• Low-dose group receiving 100µg of D-MNA
• High-dose group receiving 200µg of D-MNA

Expanded central pathology reconciliation demonstrated that 69 participants met intended nodular BCC inclusion criteria, while 21 participants were identified as superficial or mixed subtype lesions.

The Results from Pre-specified Expanded Analysis of 69 participants are summarized below:

Dose	# of patients(n)	Day 29 post-treatment				# of patients(n)	Day 57 post-treatment
	35	Clinical Clearance		Histological Clearance (CR)		34	Clinical Clearance		Histological Clearance (CR)
Device-only	12	42	%	25	%	14	29	%	29	%
100ug D-MNA	12	42	%	25	%	9	44	%	33	%
200ug D-MNA	11	46	%	27	%	11	64	%	55	%

The expanded analysis demonstrates a progressive and dose-dependent improvement, with the strongest separation emerging at Day 57.

“

We are encouraged by these additional findings in the expanded analysis, which we believe meaningfully strengthens the clinical and regulatory foundation of the SKNJCT-003 Program”


stated Dr. Raza Bokhari, Chairman and CEO of Medicus.


“We are confident that this dataset moves us from Proof-of-concept to a clear registrational path, and we believe Skinject has the potential to fundamentally change the current approach of treating patients with BCC, addressing a major un-met medical need”.

From Positive Topline Dataset to Positive Dose-Response:

The Company previously reported topline results from the population of 90 randomized patients, which demonstrated a positive topline and decision-grade dataset. The 69-patient refined efficacy analysis further strengthens the regulatory alignment of the study as the Company advances toward End-of-Phase 2 (EOP2) discussions with the FDA.

The topline dataset showed that:

• The 200µg cohort achieved the highest observed activity at Day 57
• Clearance rates improved from Day 29 to Day 57, consistent with continued biological activity over time

The pre-specified expanded dataset analysis builds on this foundation by:

• Revealing a clear and consistent dose-response relationship across endpoints
• Demonstrating stronger separation between the 200µg cohort and control, particularly at Day 57
• Strengthens differentiation between drug-driven efficacy and device-only biological activity

Importantly, this expanded central pathology verified dataset provides a more precise and clinically interpretable view of treatment effect, with the 200µg cohort at Day 57 emerging as the leading dose with the most robust and consistent efficacy signal.

These findings suggest that many treated lesions may in the future be able to avoid immediate surgical intervention, representing a potentially meaningful shift in the treatment paradigm for BCC.   Given the short treatment and excision timeline evaluated, these results are particularly encouraging and may suggest clinically meaningful anti-tumor activity within a highly practical therapeutic window.

Collectively, this dataset may support future registration-intent or NDA-enabling development discussions, including optimized patient population, lesion subtype, dose regimen, and treatment-to-excision interval.

D-MNA continued to demonstrate a highly favorable safety and tolerability profile, was generally well tolerated with no drug-related serious adverse events, no evidence of systemic doxorubicin toxicity, and predominantly mild localized treatment-site reactions, supporting repeatable lesion-directed administration consistent with prior Phase 1 observations.

Reinforcing Drug-Driven Therapeutic Effect

:

The device-only arm also demonstrated early biological activity consistent with microneedle-induced local immune response, but it did not show sustained or deepening efficacy over time. In contrast, the 200µg D-MNA cohort demonstrated progressive improvement from Day 29 to Day 57, resulting in clear separation across both clinical and histological endpoints. This pattern is consistent with drug-driven therapeutic effect, rather than a device-only response.

Independent Investigator Validation Supports Clinical and Regulatory Read-Through

These findings are further supported by independent investigator validation from a leading academic dermatologist and clinical investigator.

Dr. Babar K. Rao, MD, FAAD, Principal Investigator of the SKNJCT-003 study, is an internationally recognized academic dermatologist, dermatopathologist, and clinical investigator in skin oncology. He serves as Professor of Dermatology and Pathology at Rutgers Robert Wood Johnson Medical School and holds academic appointments at Weill Cornell Medical College.

Dr. Rao has evaluated the dataset and noted that he believes it demonstrates a clinically meaningful rapid onset efficacy, clear differentiation between drug and device effect and a profile that supports continued development and regulatory progress. Dr. Rao noted the consistency between visual, histologic, and central pathology findings is highly encouraging and provides growing confidence that SkinJect® is producing meaningful biologic anti-tumor effects. Notably, clinically meaningful anti-tumor responses were observed within weeks, potentially differentiating D-MNA from many existing non-surgical therapies that often require substantially longer treatment durations. This analysis also improves the understanding of the patient populations and treatment parameters most likely to optimize future clinical outcomes.

The Company believes these findings further de-risk advancement of the 200µg regimen and informs the design of subsequent development studies, including assessment timing, lesion selection, and endpoint strategy.

For further information, contact:

Carolyn Bonner, President and Chief Financial Officer
(610) 636-0184
[email protected]   

Anna Baran-Djokovic, SVP Investor Relations
(305) 615-9162
[email protected]   

About Medicus Pharma Ltd.

Medicus Pharma Ltd. (Nasdaq: MDCX) is a precision-guided biotech/life sciences company focused on accelerating the clinical development programs of novel and potentially disruptive therapeutics assets. The Company is actively engaged in multiple countries across three continents.

Company’s key therapeutics assets are:

SkinJect™


, a novel localized immuno-oncology precision product

focused on non-melanoma skin diseases, especially basal cell carcinoma (BCC) and

Gorlin Syndrome

, a rare autosomal dominant disease also called nevoid BCC syndrome, collectively representing a ~$2 billion market opportunity.

Teverelix



^®



, a next generation GnRH antagonist

is a first-in-market product for cardiovascular high-risk advanced prostate cancer patients and patients with acute urinary retention relapse (AURr) episodes due to enlarged prostate, collectively representing a ~$6 billion market opportunity.

The Company is actively engaged in following collaborations:

Skinject™ Platform Expansion

In August 2025, the Company announced its entry into a non-binding memorandum of understanding (MoU) with Helix Nanotechnologies, Inc. (HelixNano), a Boston-based biotech company focused on developing a proprietary advanced mRNA platform, in respect of their shared mutual interest in the development or commercial arrangement contemplated by the MoU. The MoU is non-binding and shall not be construed to obligate either party to proceed with a joint venture or any further development or commercial arrangement, unless and until definitive agreements are executed, and there can be no assurance that such definitive agreements will be executed.

The Company is exploring co-development of thermostable infectious disease vaccines combining HelixNano’s proprietary mRNA technology with the Medicus microneedle array delivery platform.

Patient Access and Advocacy

In October 2025, the Company announced
a strategic collaboration with the Gorlin Syndrome Alliance (GSA) to advance compassionate access to SkinJect for patients suffering from Gorlin Syndrome, also known as nevoid basal cell carcinoma syndrome.

In collaboration with the Gorlin Syndrome Alliance, Medicus is pursuing an Expanded Access IND program to provide Gorlin Syndrome patients with multiple or inoperable BCCs access to SkinJect™, the Company’s investigational D-MNAs, under physician supervision.

AI Enabled Clinical Development

In December 2025, the Company signed a non-binding letter of intent to collaborate with Reliant AI Inc., a decision-intelligence company specializing in generative AI for the life sciences, to develop an AI-driven clinical data analytics platform to support capital-efficient and time-efficient clinical development through data-driven dynamic clinical-site selection, pharmacodynamic (PD) informed patient stratification, and enrollment forecasting. The initial phase of the collaboration is expected to support the upcoming Teverelix clinical study planned for 2026. There can be no assurance that a definitive agreement will be executed or that the proposed collaboration will proceed as contemplated.

Cautionary Notice on Forward-Looking Statements

Certain information in this news release constitutes “forward-looking information” under applicable securities laws. “Forward-looking information” is defined as disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action and includes, without limitation, statements regarding the Company’s ability to continue as a going concern, statements regarding the Company’s leadership and prospects, the collaboration with GSA including the potential benefits thereof for GSA, those suffering with Gorlin Syndrome and Medicus (including as it relates to the development of SkinJect™), ability to be approved for the Registrational IND Program to enable those suffering with Gorlin Syndrome to access SkinJect™ under physician-supervised treatment protocols, Orphan drug designation for Skinject the development of Teverelix and expectations concerning, and future outcomes relating to, the development, advancement and commercialization of Teverelix for AURr, high CV risk prostate cancer, women’s health indications like endometriosis, and the potential market opportunities related thereto, the MOU, including the potential signing of definitive agreements between Medicus and HelixNano and the development of thermostable infectious diseases vaccines by combining HelixNano’s proprietary mRNA vaccine platform with Medicus’s proprietary microneedle array (MNA) delivery platform, the Company’s aim to fast-track the clinical development program and convert the SKNJCT-003 exploratory clinical trial into a pivotal clinical trial, and approval from the FDA and the timing thereof, including with respect to the Company’s submission for approval in the FDA
Commissioner’s National Priority Voucher program
, plans and expectations concerning, and future outcomes relating to, the development, advancement and commercialization of SkinJect through SKNJCT-003 and SKNJCT-004, and the potential market opportunities related thereto, the Company’s expectations regarding reported efficacy findings, the overall response rate and potential changes thereto, and whether there will be material changes to its reported SKNJCT-003 topline results and to secure an EOP2 meeting with the FDA in the first half of 2026, entry into definitive documents with Reliant and the expected terms thereof, engaging in proposed Medicus-sponsored studies currently contemplated in the Reliant non-binding letter of intent and the expected benefits thereof, the expansion of SKNJCT-003 into the United Kingdom and the potential benefits therefrom, the advancement of the SKNJCT-004 study and the potential results of and benefits of such study. Forward-looking statements are often but not always, identified by the use of such terms as “may”, “on track”, “aim”, “might”, “will”, “will likely result”, “could,” “designed,” “would”, “should”, “estimate”, “plan”, “project”, “forecast”, “intend”, “expect”, “anticipate”, “believe”, “seek”, “continue”, “target”, “potential” or the negative and/or inverse of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including those risk factors described in the Company’s annual report on form 10-K for the year ended December 31, 2025, and in the Company’s other public filings on EDGAR and SEDAR+, which may impact, among other things, the trading price and liquidity of the Company’s common shares. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof and thus are subject to change thereafter. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

• Selected for a second consecutive round of Nevada Tech Hub funding, reinforcing Dragonfly Energy’s role in advancing domestic battery innovation
• $527,000 award supports expansion of in-house cylindrical cell prototyping and advanced testing capabilities
• Investment accelerates R&D, validation, and development cycles, strengthening integration between Dragonfly Energy’s proprietary cell technology and its core pack business

RENO, Nev., May 06, 2026 (GLOBE NEWSWIRE) — Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy” or the “Company”), an industry leader in energy storage and maker of Battle Born Batteries®, today announced it has been selected for a second consecutive round of funding through the Nevada Tech Hub. The $527,000 award will support continued investment in the Company’s battery research, development, and advanced manufacturing capabilities.

The funding will support a two-part initiative focused on expanding Dragonfly Energy’s in-house cell prototyping and testing capabilities. The project includes the acquisition of specialized equipment to produce cylindrical lithium battery cell prototypes, along with advanced validation systems to evaluate performance, qualify new materials and suppliers, and support next-generation product development.

“This second Nevada Tech Hub award reflects the progress we’ve made and the continued confidence in our approach to battery innovation,” said Dr. Denis Phares, Chief Executive Officer of Dragonfly Energy. “This investment strengthens our ability to design, build, and validate battery cells in-house, accelerating development cycles and enabling us to more rapidly translate innovation into real-world performance. This non-dilutive funding continues to be highly beneficial to our long-term growth strategy.”

The initiative builds on Dragonfly Energy’s previously awarded Nevada Tech Hub project, which focused on enhancing production operations, quality monitoring systems, and workforce development. With expanded prototyping and testing infrastructure, the Company is further integrating its battery pack expertise with cell development, creating a more efficient feedback loop between lab research, manufacturing, and field performance. This level of vertical integration, particularly the combination of deployed field data, pack design, and in-house cell prototyping, is rare outside of large-scale manufacturers in Asia.

Dragonfly Energy’s approach is differentiated by its ability to leverage data from batteries deployed across demanding applications such as RV, trucking, and industrial systems to inform cell design and performance optimization. This data-driven development process supports the advancement of the Company’s patented dry electrode battery manufacturing platform, a more efficient and scalable alternative to conventional methods.

The project is expected to run from Q2 2026 through Q2 2027 and will be supported by additional internal investment of approximately $432,000 to fund labor, engineering, and program execution.

The initiative also contributes to Nevada’s growing battery innovation ecosystem, supporting collaboration across industry, supply chain partners, and academic institutions.

For more information about Dragonfly Energy, visitDragonflyenergy.com.

About Dragonfly Energy

Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a comprehensive lithium battery technology company, specializing in cell manufacturing, battery pack assembly, and full system integration. Through its renowned Battle Born Batteries^® brand, Dragonfly Energy has established itself as a frontrunner in the lithium battery industry, with hundreds of thousands of reliable battery packs deployed in the field through top-tier OEMs and a diverse retail customer base. At the forefront of domestic lithium battery cell production, Dragonfly Energy’s patented dry electrode manufacturing process can deliver chemistry-agnostic power solutions for a broad spectrum of applications, including energy storage systems, electric vehicles, and consumer electronics. The Company’s overarching mission is the future deployment of its proprietary, nonflammable, all-solid-state battery cells.

To learn more about Dragonfly Energy and its commitment to clean energy advancements, visit investors.dragonflyenergy.com.

About Nevada Tech Hub

Nevada Tech Hub is a consortium of governmental, industry, educational, and nonprofit organizations all aligning toward a common goal: to leverage Nevada’s rich natural resources and develop a full-spectrum lithium economy within the state. Nevada Tech Hub is one of 31 Tech Hub designees nationally. The program invests in regional partnerships to grow critical industries, strengthen national security, and create high-quality jobs. Nevada Tech Hub is focused on building a complete “Lithium Loop” – a closed-loop lithium economy that includes extraction, processing, battery manufacturing, and recycling. Nevada Tech Hub is working to make Nevada a global leader in critical minerals and electric vehicle materials. By using the state’s natural resources, supporting innovation, and bringing people and organizations together, the effort supports both national strength and a sustainable future. For more information, visit www.unr.edu/tech-hub.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company’s intent, belief, or expectations, including, but not limited to, statements regarding collaboration with the Nevada Tech Hub and the funding to advance battery R&D and cell development, the Company’s future results of operations and financial position, planned products and services, business strategy and plans, market size and growth opportunities, competitive position and technological and market trends. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions.

These forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the Company’s control) which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such factors include those set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and in the Company’s subsequent filings with the SEC available at www.sec.gov. If any of these risks materialize or any of the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Investor Relations

Eric Prouty
Szymon Serowiecki
AdvisIRy Partners
[email protected]

Dragonfly Energy Media Relations

[email protected]

Source: Dragonfly Energy Holdings Corp.