Market Newsdesk

GRAND CAYMAN, Cayman Islands, Oct. 22, 2026 (GLOBE NEWSWIRE) — Greenlight Capital Re, Ltd. (Nasdaq: GLRE) (“Greenlight Re” or the “Company”) announced today that Greenlight Innovation Syndicate 3456 (“Syndicate 3456”) has appointed Ian Maguire as Active Underwriter, subject to regulatory approval, as Syndicate 3456 transitions from a Syndicate-in-a-Box to a full Lloyd’s syndicate with effect from January 1, 2027.

Syndicate 3456, which writes Greenlight Re Innovations business with a focus on Coverholder partnerships, began underwriting as a Syndicate-in-a-Box on April 1, 2022, with the support of third-party managing agent Asta. The transition to a full syndicate will allow Syndicate 3456 to continue to support innovative Coverholders as well as more traditional Coverholder business, with strong growth anticipated in 2027.

Greg Richardson, Greenlight Re CEO, said:

“Ian has been assisting Syndicate 3456 as a consultant over the last six months, and we are delighted that Ian is now joining Syndicate 3456, as Active Underwriter, at this significant time in the evolution of Syndicate 3456. Ian’s nearly 40 years of experience in the Lloyd’s and London markets, including as Active Underwriter of a major Lloyd’s syndicate with specific expertise in managing delegated authority books of business, will be invaluable as we transition to a full syndicate. While Innovations business will remain the primary focus of Syndicate 3456, we plan to expand our offering to include some more traditional delegated underwriting authority and consortia business, as well as a limited amount of treaty reinsurance. Ian’s appointment highlights the investment we are making in our Lloyd’s platform, which is a key part of our overall strategy.”

Ian Maguire, Active Underwriter, Syndicate 3456 added:

“I am excited to be joining Syndicate 3456 as it transitions to a full syndicate effective January 1, 2027. Having worked with the team in recent months, I have seen first-hand the quality of the underwriting platform and the attractive and diverse portfolio of Innovations business that Syndicate 3456 has developed. Broadening our underwriting appetite is an area where I look forward to applying my experience as Syndicate 3456 grows and establishes itself further in the market.”

About Ian Maguire

Ian Maguire brings nearly 40 years of distinguished Lloyd’s and London market insurance experience. He previously served as Executive Director of Argenta Holdings and, from 2011 to 2021, as Active Underwriter of Argenta Syndicate 2121. During his tenure at Argenta, he managed the syndicate’s property direct and facultative account and oversaw the development of its other, predominantly short-tail, classes of business. Prior to joining Argenta in 2004, Mr. Maguire was responsible for North American direct property facility business at Wellington Underwriting.

About Greenlight Capital Re, Ltd.

Greenlight Re (www.greenlightre.com) provides multiline property and casualty insurance and reinsurance through its licensed and regulated reinsurance entities in the Cayman Islands and Ireland, and its Lloyd’s platform, Greenlight Innovation Syndicate 3456. The Company complements its underwriting activities with a non-traditional investment approach designed to achieve higher rates of return over the long term than reinsurance companies that exclusively employ more traditional investment strategies. The Company’s innovations unit, Greenlight Re Innovations, supports technology innovators in the (re)insurance space by providing investment capital, risk capacity, and access to a broad insurance network.

Forward Looking Statements

This news release contains forward-looking statements concerning Greenlight Capital Re, Ltd. and/or its subsidiaries within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially from those contained in forward-looking statements made on the Company’s behalf. These risks and uncertainties include the impact of general economic conditions and conditions affecting the insurance and reinsurance industry, the timing and outcome of any regulatory approvals, our ability to retain and integrate key personnel, adequacy of our reserves, our ability to assess underwriting risk, trends in rates for property and casualty insurance and reinsurance, competition, investment market fluctuations, trends in insured and paid losses, catastrophes, regulatory and legal uncertainties, and other factors described in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as those factors may be updated from time to time in our periodic and other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, which speak only as to the date of this release, whether as a result of new information, future events, or otherwise, except as provided by law.

Investor Relations Contact

Jeremy Hellman
Vice President, The Equity Group Inc.
(212) 836-9626
[email protected]

Privosegtor reduced post-onset increases in plasma neurofilament light chain (NfL) and glial fibrillary acidic protein (GFAP) compared with placebo

Lower NfL and GFAP levels provide objective, complementary biological evidence of reduced neuroaxonal injury and suppressed reactive astrogliosis

Biomarker results support previously reported functional (LCVA) +18-letter gains and structural retinal preservation at Month 3, reinforcing Privosegtor’s development for acute optic neuritis and acute multiple sclerosis relapses

ZUG, Switzerland, Oct. 22, 2026 (GLOBE NEWSWIRE) — Oculis Holding AG (Nasdaq: OCS / XICE: OCS), a global biopharmaceutical company focused on breakthrough innovations to address significant unmet medical needs in neuro-ophthalmology and ophthalmology, today announced new translational biomarker data from the Phase 2 ACUITY trial of Privosegtor in patients with optic neuritis (ON).

Increases in plasma neurofilament light chain (NfL) and plasma glial fibrillary acidic protein (GFAP) levels were reduced with Privosegtor vs placebo, particularly at early timepoints close to acute ON onset. Together with previously observed improvements in low-contrast visual acuity with 18-letter gains at Month 3 vs steroid alone, and preserved retinal structure, these findings provide convergent evidence across visual functional, retinal, and serum-based markers, further supporting the evaluation of Privosegtor as a potential neuroprotective therapy.

The late-breaking data were presented by Céline Louapre, M.D., Ph.D., of Pitié-Salpêtrière Hospital and Sorbonne University, during the 10th Joint ACTRIMS-ECTRIMS Meeting, MSToronto 2026.

The Phase 2 ACUITY biomarker analysis evaluated neurodegenerative markers in the blood to quantify structural neuroaxonal preservation and glial modulation following an acute episode of ON:

Neuroaxonal Preservation (LS mean change from baseline in plasma NfL levels)

At Day 5, the mean increase in plasma NfL was higher in the placebo group than in the Privosegtor group. NfL levels remained stable in the Privosegtor group through Month 6, whereas levels in the placebo group remained elevated above baseline at Month 1 before returning to baseline by Month 6. Lower NfL levels are consistent with reduced structural neuroaxonal injury along the optic nerve pathway.

Reactive Astrogliosis Reduction (LS mean change from baseline in plasma GFAP levels)

At Day 5, the mean increase in plasma GFAP was greater in the placebo group than in the Privosegtor group. GFAP levels remained elevated above baseline in the placebo group from Month 1 through Month 6, whereas they remained below baseline in the Privosegtor group over the same period. Lower plasma GFAP levels are consistent with reduced acute reactive astrocytic inflammation and reduction of the secondary neurodegenerative cascade.

Céline Louapre, M.D., Ph.D., Professor of Neurology at Pitié-Salpêtrière Hospital, Sorbonne University, and presenting author said: “These findings are particularly noteworthy because they provide biological evidence that complements the functional and retinal structural improvements previously observed in ACUITY. The consistent effects across NfL and GFAP suggest that Privosegtor may be influencing multiple pathways involved in tissue injury following acute optic neuritis, supporting its potential as a neuroprotective therapeutic approach. Together, these data deepen our understanding of the treatment’s effects and further support continued clinical evaluation.”

Riad Sherif, M.D., Chief Executive Officer of Oculis added: “For patients with optic neuritis, irreversible neuro-axonal damage can occur within days of disease onset, yet there are currently no approved therapies designed to protect retinal ganglion cells and their axons, the neurons responsible for transmitting visual signals from the eye to the brain, and preserve long-term visual function. These biomarker findings and translational analyses provide important additional evidence supporting Privosegtor’s neuroprotective potential, strengthening our confidence as we advance the PIONEER registrational program and explore its broader applicability across acute neuro-axonal conditions, including acute multiple sclerosis relapses.”

This Late-Breaker Abstracts poster presentation will be available under the Investors & Media section of the Oculis corporate website at www.oculis.com.

– Ends –

About Privosegtor

Privosegtor, a novel peptoid small-molecule candidate that crosses the blood-brain and retinal barriers, has the potential to become the first neuroprotective therapy for optic neuritis (ON) and other neuro-ophthalmic and neuro-axonal diseases. Positive results from the ACUITY Phase 2 trial showed Privosegtor’s neuroprotective potential, as evidenced by improved visual function, corroborated by anatomical preservation of the retina, including the GCIPL and RNFL layers, and reduced neurofilament levels in the blood after an acute episode of optic neuritis. Consistent results were observed in animal models of glaucoma, optic neuritis, and multiple sclerosis (MS), where Privosegtor preserved retinal ganglion cells and was associated with improvements in mobility (clinical function disability) in the MS model.

Privosegtor has received Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA) and Priority Medicines (PRIME) designation from the European Medicines Agency (EMA) as well as Orphan Drug designation from both the FDA and the EMA for ON. Privosegtor is currently being evaluated in Oculis’ PIONEER (Privosegtor Investigation in Optic Neuropathies Efficacy Evaluation Research) program, which includes two registrational trials in ON and one registrational trial in non-arteritic anterior ischemic optic neuropathy (NAION). Building on the ACUITY Phase 2 dataset in ON and constructive FDA pre-IND feedback, Oculis is also planning an IND submission for Privosegtor for the treatment of acute MS relapses.

Privosegtor is an investigational drug and has not received regulatory approval for commercial use in any country.

About Optic Neuritis

Optic Neuritis (ON) is a rare condition characterized by an acute inflammation of the optic nerve that can lead to permanent visual impairment. It affects up to 8 in 100,000 people worldwide with a U.S. annual incidence estimated to be >30,000 and often represents the first sign of multiple sclerosis^1,2. It mainly occurs in adults between 20 and 40 years of age and is more frequent in women (2:1)³. ON is a type of neuropathy (nerve disease) that happens when acute inflammation of the optic nerve affects the signals traveling from the eyes through the brain, causing pain, vision loss and other symptoms. The cells that make up the optic nerve have a lipid protective coating called a myelin sheath, which is preferentially damaged in ON. Without myelin, the optic nerve cells can’t send signals properly and axons can be irreversibly lost. To date there is no specific therapy approved for acute optic neuritis and the unmet need remains for therapies that can prevent vision loss after an acute episode by reducing permanent nerve cell damage or death.

About Acute Multiple Sclerosis (MS) Relapses

MS is a chronic immune-mediated disease affecting approximately 2.8 million people worldwide, including around 850,000 in the U.S. alone.^4-6 There are two main types of MS: relapsing-remitting MS (RRMS) and progressive MS. While progressive MS remains a significant unmet medical need, RRMS is the most common type, representing ~85% of patients at initial diagnosis.⁵ It is currently managed using immunomodulators or disease-modifying therapies (DMTs) that reduce the rate of relapses and therefore related relapse-associated worsening (RAW). However, relapses still persist for many patients, with an estimated 170,000 MS relapses occurring each year in the U.S.⁷

During an acute relapse, neurologists commonly use a short course of high-dose corticosteroids to reduce inflammation and shorten the episode, as is also standard of care in optic neuritis. However, corticosteroids do not influence the long-term disability, and recovery from relapses is often incomplete, such as in optic neuritis. The tissue damage that occurs during these relapses can contribute to neuroaxonal loss and the accumulation of functional disability over time, underscoring the need for therapies that protect neurons and axons during relapses. There are currently no neuroprotective therapies approved for MS relapses, and there remains an urgent unmet medical need for treatments that can prevent central nervous system damage.

About Oculis

Oculis is a global biopharmaceutical company (Nasdaq: OCS; XICE: OCS) focused on breakthrough innovations to address significant unmet medical needs in neuro-ophthalmology. Oculis’ highly differentiated late-stage clinical pipeline focuses on two core product candidates. Privosegtor is a breakthrough neuroprotective candidate in the PIONEER program, which consists of studies intended to support registration plans for treatment of optic neuropathies, including optic neuritis (ON) and non-arteritic anterior ischemic optic neuropathy (NAION). Privosegtor also has potential to be developed for additional indications in other neuro-ophthalmic and neuro-axonal diseases. Licaminlimab is a novel, topical anti-TNFα in a registrational trial, and is being developed with a genotype-based approach for treating patients with TNFR1-mediated dry eye disease (DED). Headquartered in Switzerland with operations in the U.S., Iceland and Switzerland, Oculis is led by an experienced management team with a successful track record and supported by leading international healthcare investors.
           
For more information, please visit: www.oculis.com

Oculis Contact

Ms. Sylvia Cheung, CFO
[email protected]

Investor Relations

LifeSci Advisors
Corey Davis, Ph.D.
[email protected]

Media Relations

ICR Healthcare
Amber Fennell
[email protected]

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements and information. For example, statements regarding the potential benefits of the Company’s product candidates, including the potential for Privosegtor to become the first neuroprotective therapy for optic neuritis and its potential broad applicability across neurology, including in acute MS relapses; the potential significance of biomarker data and analyses; the initiation, enrollment, timing, progress and results of current and future clinical trials; Oculis’ research and development programs; regulatory and business strategy; Oculis’ future development plans; the timing or likelihood of regulatory filings and approvals; and statements about market opportunity, are forward-looking. All forward-looking statements are based on estimates and assumptions that, while considered reasonable by Oculis and its management, are inherently uncertain and are inherently subject to risks, variability, and contingencies, many of which are beyond Oculis’ control. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, assurance, prediction or definitive statement of a fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Results of earlier stage clinical trials may not be replicated in subsequent clinical trials. Statements regarding the potential significance of biomarker data are inherently uncertain, and observed biomarker changes may not be predictive of or correlate with favorable clinical outcomes. All forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially from those that we expected and/or those expressed or implied by such forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Oculis, including those set forth in the Risk Factors section of Oculis’ annual report on Form 20-F and any other documents filed with the U.S. Securities and Exchange Commission (SEC). Copies of these documents are available on the SEC’s website, www.sec.gov. Oculis undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

References:

1. Weidong Gu et al. Incidence of Optic Neuritis and the Associated Risk of Multiple Sclerosis for Service Members of U.S. Armed Forces, Military Medicine, vol. 188, March/April 2023
2. Abbass, N.J., Shaia, J.K., Shukla, P. et al. Prevalence of pediatric and adult optic neuritis in the United States from 2016 to 2023. Eye 39, 1608–1614 (2025).
3. Guier CP, Kaur K, Stokkermans TJ. Optic Neuritis. January 2025
4. MS National Society
5. Wallin et al., 2019, The prevalence of MS in the United States: A population-based estimate using health claims data – PubMed
6. McGinley et al., 2021, Diagnosis and Treatment of Multiple Sclerosis: A Review – PubMed
7. Multiple sources on relapse rate (ARR) including: Ocrelizumab versus fingolimod after natalizumab cessation in multiple sclerosis: an observational study – PubMed

Attachment

• 20261021 Oculis_Ectrims Biomarker data readout with graphs

Continued strong VYVGART performance drives $1.7 billion in global product net sales, representing 54% year-over-year growth and 13% quarter-over-quarter growth

sBLA for VYVGART Hytrulo in IMNM on track for submission by year-end; pursuing additional registrational study in DM

Phase 3 MMN data for empasiprubart expected in December 2026

FB102 advancing to Phase 3 in celiac disease as potential new growth pillar in argenx’s next wave of immunology innovation

Management to host conference call today at 2:30 PM CET (8:30 AM ET)

October 22, 2026 7:00 AM CET

Amsterdam, the Netherlands – argenx SE (Euronext & Nasdaq: ARGX), the immunology innovation company, today announced its third quarter 2026 results and provided a business update.

“The story of argenx is one of continued innovation, growth and impact,” said Karen Massey, Chief Executive Officer. “VYVGART is the foundation of our business and continues to deliver strong performance across gMG and CIDP, with significant opportunity still ahead as we reach more patients, expand into new indications, and advance the next wave of FcRn medicines. The positive results from our Phase 3 ALKIVIA study further reinforce the potential of VYVGART beyond neurology, and underscore how much more it can deliver for patients. The upcoming Phase 3 readout for empasiprubart in MMN, the advancement of FB102, and progress across our emerging immunology pipeline are bringing the next chapter of argenx into focus as we build a global immunology innovator positioned for durable growth and value creation well beyond Vision 2030.”

Vision 2030

argenx remains on track to achieve its ‘Vision 2030’ anchored in the ambition to treat 50,000 patients globally with its medicines, secure 10 labeled indications, and progress five pipeline candidates into registrational development by 2030.

Realizing the full potential of VYVGART and advancing FcRn leadership

VYVGART^® (IV: efgartigimod alfa-fcab; SC: efgartigimod alfa and hyaluronidase-qvfc) is the first-and-only approved treatment for all adult patients living with generalized myasthenia gravis (gMG). It is also approved for chronic inflammatory demyelinating polyneuropathy (CIDP) globally, and primary immune thrombocytopenia (ITP) in Japan. Building on VYVGART’s leadership in MG and CIDP, argenx is progressing multiple label and indication expansions, exploring VYVGART’s potential in additional autoimmune diseases through proof-of-concept studies, and advancing next-generation FcRn molecules and delivery modalities.

• Generated $1.7 billion in global product net sales in the third quarter of 2026, representing 54% year-over-year growth and 13% quarter-over-quarter growth
• Submitted a Supplemental Biologics License Application (sBLA) for VYVGART in ocular myasthenia gravis (oMG) to the U.S. Food and Drug Administration (FDA)
• sBLA for VYVGART and VYVGART Hytrulo in pediatric gMG accepted for priority review by the FDA with a PDUFA target action date in February 2027
• VYVGART Hytrulo autoinjector expected to launch in second half of 2027 for all approved indications
• Reported positive Phase 3 ALKIVIA results with consistent and clinically meaningful treatment effects observed across immune-mediated necrotizing myopathy (IMNM) and dermatomyositis (DM); sBLA for VYVGART Hytrulo in IMNM on track for submission by year-end 2026, supported by Breakthrough Therapy Designation, with plans to conduct an additional registrational study in DM
• Topline results from Phase 3 ADVANCE-NEXT study in primary ITP expected in first half of 2027
• Phase 3 VitaliThy studies in Graves’ disease ongoing
• Advancing the future FcRn portfolio, including Phase 3-ready ARGX-213, designed for monthly dosing, and ARGX-124 currently in Phase 1 development

Advancing empasiprubart, argenx’s second pipeline-in-a-product opportunity

Empasiprubart (anti-C2) is argenx’s second pipeline-in-a-product opportunity and is being evaluated in Phase 3 studies in multifocal motor neuropathy (MMN) and CIDP, with additional Phase 2 studies exploring its potential in other indications and in combination with VYVGART in gMG.

• Topline results from the Phase 3 EMPASSION study (MMN) expected in December 2026
• Topline results from Phase 3 EMVIGORATE and EMNERGIZE studies in CIDP anticipated in the second half of 2027
• Phase 2 ADAPT-Forward platform study in gMG ongoing, evaluating empasiprubart as an add-on to efgartigimod and as monotherapy to support combination development pathway

Delivering next wave of immunology innovation

Beyond the FcRn portfolio and empasiprubart, argenx is advancing a differentiated immunology pipeline that includes FB102 (CD122), adimanebart (MuSK), ARGX-121 (IgA), ARGX-109 (IL-6), TSP-101 (Fn14), ARGX-118 (Galectin-10) and ARGX-125 (undisclosed target), together with additional candidates emerging from the Immunology Innovation Program. These programs support argenx’s ambition to build multiple pillars of sustainable growth beyond Vision 2030.

• Advancing FB102 to Phase 3 in celiac disease based on positive Phase 2 results, with ongoing programs in alopecia areata and vitiligo and potential across other autoimmune diseases
• Phase 3 study of adimanebart in congenital myasthenic syndromes (CMS) expected to begin in 2026; Phase 2 in spinal muscular atrophy (SMA) ongoing
• Phase 2 study of ARGX-121 in IgA nephropathy (IgAN) ongoing
• Advancing Phase 1 development of TSP-101, ARGX-118 and ARGX-125

THIRD QUARTER 2026 FINANCIAL RESULTS

argenx SE

UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF PROFIT OR LOSS

		Three Months Ended						Nine Months Ended
		September 30,						September 30,
(in millions of $ except for per share data)		2026			2025			2026				2025
Product net sales		$	1,721		$	1,127		$	4,534		$	2,866
Other operating income			30			24			71			60
Total operating income		$	1,751		$	1,151		$	4,605		$	2,926
Cost of sales		$	(165)		$	(109)		$	(431)		$	(301)
Research and development expenses*			(503)			(359)			(1,432)			(1,001)
Selling, general and administrative expenses			(598)			(336)			(1,370)			(937)
Total operating expenses		$	(1,266)		$	(805)		$	(3,233)		$	(2,240)
Operating profit		$	486		$	346		$	1,372		$	686
Financial income		$	45		$	43		$	137		$	118
Financial expense			(1)			(1)			(3)			(3)
Exchange gains/(losses)			8			(2)			(11)			74
Profit for the period before taxes		$	538		$	386		$	1,495		$	875
Income tax expense		$	(32)		$	(42)		$	(151)		$	(116)
Profit for the period		$	506		$	344		$	1,344		$	759
Profit for the period attributable to:
Owners of the parent		$	506		$	344		$	1,344		$	759
Weighted average number of shares used for basic profit per share			62,735,385			61,371,508			62,370,746			61,147,873
Basic profit per share (in $)			8.07			5.61			21.54			12.41
Weighted average number of shares used for diluted profit per share			64,886,406			66,441,326			64,578,235			65,944,952
Diluted profit per share (in $)			7.80			5.18			20.81			11.51

*Comparative figures have been aligned with the presentation adopted in the current period, reflecting the combination of research and development expenses and loss from investment in a joint venture.

DETAILS OF THE FINANCIAL RESULTS

Total operating income for the three and nine months ended September 30, 2026 was $1.8 billion and $4.6 billion, respectively, compared to $1.2 billion and $2.9 billion, respectively, for the same periods in 2025, and mainly consisted of:

• Product net sales of VYVGART for the three and nine months ended September 30, 2026, were $1.7 billion and $4.5 billion, respectively, compared to $1.1 billion and $2.9 billion, respectively, for the same periods in 2025.

• Other operating income for the three and nine months ended September 30, 2026 was $30 million and $71 million, respectively, compared to $24 million and $60 million, respectively, for the same periods in 2025. The other operating income in these periods primarily related to research and development tax incentives and payroll tax rebates.

Total operating expenses for the three and nine months ended September 30, 2026 were $1.3 billion and $3.2 billion, respectively, compared to $0.8 billion and $2.2 billion, respectively, for the same periods in 2025, and mainly consisted of:

• Cost of sales for the three and nine months ended September 30, 2026 was $165 million and $431 million, respectively, compared to $109 million and $301 million, respectively, for the same periods in 2025. The cost of sales was related to the sale of VYVGART.

• Research and development expenses for the three and nine months ended September 30, 2026 were $0.5 billion and $1.4 billion, respectively, compared to $0.4 billion and $1.0 billion, respectively, for the same periods in 2025. The research and development expenses mainly related to advancing efgartigimod, empasiprubart, adimanebart and FB102 across multiple registrational studies, plus early-stage pipeline and preclinical programs.

• Selling, general and administrative expenses for the three and nine months ended September 30, 2026 were $0.6 billion and $1.4 billion, respectively, compared to $0.3 billion and $0.9 billion, respectively, for the same periods in 2025. The selling, general and administrative expenses mainly related to professional and marketing fees linked to the global commercialization of the VYVGART franchise, and personnel expenses. Selling, general and administrative expenses for the three- and nine-month periods ended September 30, 2026 included approximately $150 million of acquisition-related expenses associated with the Company’s acquisition of Forte Biosciences Inc.

Financial income for the three and nine months ended September 30, 2026 was $45 million and $137 million, respectively, compared to $43 million and $118 million, respectively, for the same periods in 2025.

Exchange gains/losses for the three and nine months ended September 30, 2026 were an $8 million gain and an $11 million loss, respectively, compared to a $2 million loss and a $74 million gain, respectively, for the same periods in 2025.

Income tax for the three- and nine-month periods ended September 30, 2026 and 2025 is detailed below:

		Three Months Ended						Nine Months Ended
		September 30,						September 30,
(in millions of $)		2026			2025			2026			2025
Current tax expense		$	(129)		$	(52)		$	(359)		$	(122)
Deferred tax benefit			97			10			208			6
Income tax expense		$	(32)		$	(42)		$	(151)		$	(116)

Profit for the three- and nine-month periods ended September 30, 2026 was $0.5 billion and $1.3 billion, respectively, compared to $0.3 billion and $0.8 billion, respectively, for the same periods in 2025. The basic profit per share was $8.07 for the three months ended September 30, 2026, compared to $5.61 for the same period in 2025. The basic profit per share was $21.54 for the nine months ended September 30, 2026, compared to $12.41 for the same period in 2025.

Cash, cash equivalents and current financial asset
s

¹
 consisted of $2.6 billion in cash and cash equivalents and $1.1 billion in current financial assets which totaled $3.7 billion as of September 30, 2026 after paying approximately $2.1 billion for the acquisition of Forte Biosciences Inc., net of acquired cash, compared to $3.5 billion in cash and cash equivalents and $0.9 billion in current financial assets which totaled $4.4 billion as of December 31, 2025.

FULL YEAR EXPECTATIONS

Combined R&D and SG&A expenses are now expected to be approximately $4 billion for 2026, including the Forte transaction-related costs.

EXPECTED FINANCIAL CALENDAR

• February 25, 2027: Full-year 2026 Financial Results and Fourth Quarter 2026 Business Update
• April 29, 2027: First Quarter 2027 Financial Results and Business Update
• July 22, 2027: Half Year and Second Quarter 2027 Financial Results and Business Update
• October 21, 2027: Third Quarter 2027 Financial Results and Business Update

CONFERENCE CALL DETAILS

The third quarter 2026 financial results and business update will be discussed during a conference call and webcast presentation today at 2:30 PM CET/8:30 AM ET. A webcast of the live call may be accessed on the Investors section of the argenx website at argenx.com/investors.

Participants can access the conference call by dialing 800-590-8290 (United States and Canada) or 240-690-8800 (International). Country specific dial-in numbers are listed below:

Belgium                32 2290 4635
France                        33 172 001717
Netherlands                31 20 795 2683
United Kingdom                44 203 393 1560
Japan                        81 3 4520 9761
Switzerland                41 43 210 51 68

Use the access code 3810049 to join the call. Please dial in 15 minutes prior to the live call.

A replay of the webcast will be available on the argenx website.

About VYVGART

VYVGART® (efgartigimod alfa fcab) is a first-in-class human IgG1 antibody fragment that binds to the neonatal Fc receptor (FcRn), resulting in the reduction of circulating IgG autoantibodies. VYVGART Hytrulo® is a subcutaneous combination of efgartigimod alfa (VYVGART) and recombinant human hyaluronidase PH20 (rHuPH20), Halozyme’s ENHANZE® drug delivery technology to facilitate subcutaneous injection delivery of biologics. VYVGART is approved for generalized myasthenia gravis (gMG) and immune thrombocytopenia (Japan only). VYVGART Hytrulo is approved for gMG and chronic inflammatory demyelinating polyneuropathy (CIDP). VYVGART Hytrulo may be marketed under different proprietary names in other regions.

About argenx

argenx is the immunology innovation company, focused on turning immunology breakthroughs into medicines for patients. The company seeks novel biology wherever it emerges, co-creating with academic researchers through its Immunology Innovation Program (IIP) and investing in promising science, to develop treatments for people living with underserved diseases. By advancing molecules with the potential to reach multiple diseases and patient populations, argenx is building a world-class portfolio. This approach produced the first approved antibody fragment targeting the neonatal Fc receptor (FcRn) and today powers a growing pipeline of early and late-stage programs across several therapeutic areas. For more information, visit  www.argenx.com  and follow us on LinkedIn, Instagram, Facebook, and YouTube.

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (Regulation 596/2014).

Contacts

Media:

Ben Petok
[email protected]

Investors:

Alexandra Roy
[email protected]

Forward Looking Statements

The contents of this announcement include statements that are, or may be deemed to be, “forward-looking statements.” These forward-looking statements generally can be identified by the use of forward-looking words, such as “ahead”, “aim”, “ambition,” “anticipate”, “aspire”, “believe”, “can”, “continue”, “could”, “designed for”, “estimate”, “expect”, “entail”, “forecast”, “future”, “goals”, “hope”, “intend”, “is designed to”, “likely”, “may”, “might”, “objective”, “plan”, “possible”, “positioned”, “potential”, “pursue”, “project”, “predict”, “seek”, “should”, “strategy”, “target”, “upcoming”, “will” and other words and terms of similar meaning and expression, including in connection with any discussion of future operating or financial performance. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. argenx’s actual results may differ materially from those predicted by the forward-looking statements as a result of various important factors, including but not limited to, uncertainties associated with the development of novel drug therapies; the initiation, timing, progress, development and results of preclinical and clinical trials of argenx’s product candidates, including new indications, alternative dosing regimens, treatment modalities, and methods of administration, including statements regarding when results or interim analysis of the clinical trials will be available or made public; the risk that early stage clinical trials may not be predictive of results in later stage or large scale clinical trials; the expansion of argenx’s business, including the further development of argenx’s sales and marketing abilities and its Immunology Innovation Program, and the value of its pipeline; the potential attributes, benefits, and side effects of argenx’s products and product candidates, including new indications, alternative dosing regimens and treatment modalities, and their competitive position with respect to other alternative treatments; argenx’s ability to advance product candidates into, and successfully complete, clinical trials; argenx’s estimates of the number of patients who suffer from the diseases it is targeting and the number of patients that will enroll in its clinical trials; the demand and commercialization of argenx’s products and product candidates, including new indications, alternative dosing regimens, treatment modalities, and methods of administration, if approved; the anticipated timing or likelihood of market or regulatory decisions relating to or of argenx’s products, including new indications, alternative dosing regimens, treatment modalities, and methods of administration; the anticipated pricing and reimbursement of argenx’s products and product candidates, if approved; argenx’s plans to have various programs to help patients afford its products, including patient assistance and co-pay coupon programs for eligible patients; argenx’s ability to establish sales, marketing and distribution capabilities for any of its products and product candidates that achieve regulatory approval; argenx’s regulatory strategy and its ability to establish and maintain manufacturing arrangements for its products and product candidates; the scope and duration of protection, including any exclusivity period, argenx is able to establish and maintain for intellectual property rights covering its products and product candidates, platform and technology, including its intention to seek patent term extensions where available; argenx’s estimates regarding expenses, future revenues, cash flow, capital requirements and its needs for additional financing; argenx’s expectation that it will benefit from the Belgian innovation income deduction; argenx’s financial performance, including potential volatility in the price of its ordinary shares and American Depositary Shares; the acquisition of Forte Biosciences Inc., including argenx’s ability to integrate the acquired business and realize its anticipated benefits; the competition argenx faces in its drug discovery, development, and commercialization efforts; the rate and degree of market acceptance of argenx’s products and product candidates, if approved, by its patients as safe, effective and cost-effective; the potential benefits of argenx’s current collaborations, including the possibility to access partner technology platforms or capabilities; argenx’s plans and ability to enter into or maintain current collaborations for additional programs or product candidates; argenx’s plans and ability to enter into or maintain current new distribution partnerships; argenx’s long-term growth strategy to develop and market additional products and product candidates, including but not limited to, efgartigimod for new indications, empasiprubart, adimanebart, and FB102; the impact of government laws and regulations, including tariffs, export controls, sanctions and other regulations on argenx’s business; argenx’s expectations with respect to the timing and amount of any dividends (if any); argenx’s plans regarding its supply chain, including its reliance on third parties, service providers and manufacturers; inflation and deflation and the corresponding fluctuations in interest rates; regional instability and conflicts; and argenx’s business strategies, including Vision 2030, plans, projects, goals and targets and the timing, outcomes and benefits thereof. A further list and description of these and other risks, uncertainties, and factors that could cause actual results to differ materially from those referred to in the forward-looking statements can be found in argenx’s U.S. Securities and Exchange Commission (SEC) filings and reports, including in argenx’s most recent annual report on Form 20-F filed with the SEC as well as subsequent filings and reports filed by argenx with the SEC. Given these risks and uncertainties, the reader is advised not to place undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this press release. argenx undertakes no obligation to publicly update or revise the information in this press release, including any forward-looking statements, except as may be required by law.

Alternative Performance Measures Statement

In this document, argenx’s financial results are provided in accordance with IFRS® Accounting Standards (IFRS) and using a non-IFRS financial measure, cash, cash equivalents and current financial assets.

This value should not be viewed as a substitute for the company’s IFRS financial information and is provided as a complement to financial information provided in accordance with IFRS and should be read in conjunction with the most directly comparable IFRS financial information as set out below. Management believes this non-IFRS financial measure is useful for securities analysts, investors and other interested parties to gain a more complete understanding of the company’s available financial liquidities given that the company’s current financial assets are held in term accounts with an initial maturity of more than three months but less than twelve that may be used to meet its financial obligations. Such non-IFRS financial information, as calculated herein, may not be comparable to similarly named measures used by other companies and should not be considered comparable to IFRS financial measures. Non-IFRS financial measures have limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, an analysis of the company’s financial results as reported under IFRS.

A reconciliation of the IFRS financial information to non-IFRS financial information is included below:

Cash, cash equivalents and current financial assets totaled $3.7 billion as of September 30, 2026, compared to $4.4 billion as of December 31, 2025. The balance as of the period ended September 30, 2026 consisted of $2.6 billion in cash and cash equivalents and $1.1 billion in current financial assets and the balance as of the period ended December 31, 2025 consisted of $3.5 billion in cash and cash equivalents and $0.9 billion in current financial assets.

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¹ A non-IFRS Alternative Performance Measure (APM). Refer to the “Alternative Performance Measures Statement” below for a reconciliation to the IFRS financial information.

• Third quarter 2026 total revenues increase by 21% to approximately US$117.6 million, compared to third quarter 2025
• Third quarter 2026 total operating expenses of approximately US$74.6 million, in line with third quarter 2025
• Tightened 2026 total revenue guidance to US$380 million – US$390 million from prior US$375 million – US$395 million
• Full third quarter financial results and business update brought forward to October 27, 2026; conference call and webcast for analysts and investors to follow at 13:30 CET/08:30 EDT

Leiden, the Netherlands, October 22, 2026: Pharming Group N.V. (Euronext Amsterdam: PHARM/Nasdaq: PHAR), a global biotechnology company focused on rare immune and genetic diseases, today announces preliminary, unaudited revenue and select financial information for the three months ended September 30, 2026. Pharming will report its full preliminary (unaudited) financial results for the third quarter 2026 and provide a business update on October 27, 2026, brought forward from November 5, 2026 following results indicating revenue above and total operating expenses below analyst consensus.

Total revenues for the third quarter 2026 are expected to be approximately US$117.6 million, compared with US$97.3 million in the third quarter of 2025. This represents growth of approximately 21% year-on-year, reflecting strong performance from RUCONEST® and Joenja®.

Third quarter revenues comprise approximately US$93.8 million from RUCONEST, a 14% increase compared to the third quarter of 2025 and a 30% increase compared to the second quarter of 2026, and US$23.8 million from Joenja®, a 58% increase compared to the third quarter of 2025.

The RUCONEST revenue performance reflects stabilization and continued recovery of demand in the US, early seasonal increase in channel inventory at a single U.S. specialty pharmacy customer following significant drawdowns earlier in the year, and the completion of the planned withdrawal from non-U.S. markets.

Joenja revenue growth was driven by continued strong growth in the number of U.S. patients on paid therapy, significantly increased international demand – including from launches in Germany and Japan during the quarter and continued penetration in the U.K. – with temporary benefit from ordering patterns in other international markets.

Total operating expenses for the third quarter are expected to be approximately US$74.6 million, in line with US$74.5 million in the third quarter 2025. This performance is reflective of efficient scaling of the business.

Full-year 2026 outlook

Tightened 2026 total revenue guidance to between US$380 million and US$390 million (1% to 4% growth) from prior US$375 million to US$395 million (0% to 5% growth) and lowered total operating expense guidance to between US$310 million and US$315 million (0% to 1% growth) from prior US$315 million to US$320 million (1% to 3% growth).

Clinical updates

At ESID 2026, Pharming presented positive Phase II data for leniolisib in patients with genetically defined primary immunodeficiencies (PIDs) with immune dysregulation linked to PI3Kδ signaling; Pharming expects topline Phase II results from its separate trial in CVID patients with immune dysregulation, with or without an identified genetic cause, in November 2026. We are working towards a single registrational Phase III trial in the broader CVID indication, incorporating patient populations from both studies. The estimated prevalence rate for CVID with immune dysregulation is approximately 39 patients per million, compared with approximately 1.5 patients per million for APDS, representing substantial growth potential for Joenja.

For Napazimone (KL1333) for mtDNA-driven mitochondrial disease, we expect approximately 145 of the planned 180 subjects to be enrolled in the pivotal FALCON clinical trial by the end of 2026. We now expect enrollment to be completed in the first half of 2027. Topline results from the pivotal FALCON study are expected approximately one year after the completion of enrollment.

Full third-quarter results

Pharming will report third quarter 2026 financial results and provide a business update on October 27, 2026. Management will host a conference call and webcast for analysts and investors on the same day at 13:30 CET/08:30 EDT. To participate in the conference call or to watch the live webcast, please register in advance using the links below.

Conference call registration:


https://register-conf.media-server.com/register/BI6feabfc862ab4ba1bc7e6386d00414a3


Once registered, dial-in information and a unique PIN will be provided, allowing access to the call.

Please note, the Company will only take questions from dial-in attendees.

Webcast registration:


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

The webcast will also be accessible on the Pharming website at Investors/Financial Documents & Reports, and a replay will be available shortly after the event.

Trademarks

Joenja® and RUCONEST® are registered trademarks owned by or licensed to Pharming Group N.V. or its affiliates.

About Pharming

Pharming Group N.V. (Euronext Amsterdam: PHARM/Nasdaq: PHAR) is a global biotechnology company that develops and commercializes innovative medicines for people living with rare immune and genetic diseases.

We combine specialized scientific, medical, regulatory and commercial expertise to advance a focused portfolio of approved medicines and development programs that address significant unmet medical needs. Guided by insights from patients and the wider rare disease community, we are dedicated to delivering innovative therapies for some of the most challenging rare diseases.

Pharming is headquartered in Leiden, the Netherlands, with operations in the United States and Europe.

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

For further public information, contact:

Pharming

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

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

Media Relations

Julia Deutsch (Lyra Strategic Advisory on behalf of Pharming)
E: [email protected]

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

Forward-looking Statements

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

Inside Information

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

Attachment

• Pharming Group third quarter 2026 pre-announcement_EN_22OCT26

• Attractive biodistribution supports selection of MP0730 as Radio-DARPin therapy candidate 

• CD70 is a clinically validated target expressed in kidney cancer and other indications

• First-in-human program expected to start in H2 2027

ZURICH-SCHLIEREN, Switzerland and CONCORD, Mass., Oct. 22, 2026 (GLOBE NEWSWIRE) — Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN), a clinical-stage biotech company developing a novel class of medicines known as DARPin therapeutics (“Molecular Partners” or the “Company”), today announced the selection of MP0730 as its lead Radio-DARPin candidate targeting the tumor-associated antigen CD70. MP0730 is the third program in the Company’s pipeline of targeted alpha radiotherapeutics, and a first-in-human program is expected to start mid-2027.

Molecular Partners presented preclinical data on MP0730 at the Discovery on Target – Radioligand Therapies conference on October 1, 2026, in Boston, MA (presentation title: DARPins as Ligands for Targeted Alpha Therapy: First-in-Human Experience with MP0712 and Opportunities for Next Radio-DARPin Candidates). The data outline an attractive biodistribution profile of the CD70-targeting Radio-DARPin lead candidate in tumor-bearing mice, with strong and sustained tumor uptake relative to healthy tissues, including kidney, liver and blood.

“The selection of MP0730 as our third Radio-DARPin Therapeutic marks another important milestone in our ambition to deliver transformative therapies for patients with high unmet medical needs. CD70’s clean expression profile paired with MP0730’s best-in-class properties provide a compelling foundation for achieving a favorable therapeutic index, addressing on-target, off-tumor accumulation observed with certain radiopharmaceutical approaches against other antigens expressed in kidney cancer,” said Daniel Steiner, Ph.D., SVP Targeted Radiotherapeutics of Molecular Partners.

CD70 is a clinically validated target, demonstrated through CAR-T cell therapies, and is overexpressed in clear cell renal cell carcinoma (ccRCC), a type of kidney cancer, and in other cancer indications. CD70 expression is maintained in metastases and limited in healthy tissues, making it an ideal candidate for targeted alpha radiotherapy.

ccRCC has a robust DNA repair mechanism and is inherently resistant to conventional cytotoxic therapies. Targeted alpha therapy induces difficult-to-repair double-strand breaks in tumor cells, independently from genetic mutations, due to its high linear energy transfer, thereby offering a new avenue for patients with hard-to-treat cancers such as ccRCC.

About Radio-DARPins

Molecular Partners develops targeted alpha therapeutics leveraging its Radio-DARPins as isotope-agnostic vectors to unlock a broad range of cancer targets and indications. The Company tailors its radiotherapeutic candidates by matching vector and isotope properties with disease and target biology to address unmet medical needs. Designed for precise delivery of potent radioactive payloads to tumor lesions, Molecular Partners’ Radio-DARPins address historic limitations of radioligand therapy, such as kidney accumulation and suboptimal tumor uptake, through optimized half-life extension and surface engineering approaches. In addition, the Company’s Radio-DARPins support swapping of chelator and isotope while maintaining comparable biodistribution of candidates, thereby offering potential competitive advantages over other vectors. DARPin (Designed Ankyrin Repeat Protein) therapeutics are a novel class of medicines – with key properties such as exquisite specificity, high affinity, small size – which have been clinically-validated across several disease areas, tested in >2500 patients globally, and developed through to the registrational stage.

About Molecular Partners AG 
Molecular Partners AG (SIX, NASDAQ: MOLN) is a clinical-stage biotech company pioneering a novel class of medicines known as DARPin therapeutics for cancer patients underserved by existing treatment modalities. Molecular Partners focuses on the development of targeted radiotherapeutics, leveraging the unique properties of DARPin miniproteins as isotope-agnostic vectors. The Company’s lead medicine MP0712, targeting DLL3 and armed with ²¹²Pb, advances in a US multicenter Phase 1/2a study for patients with small cell lung cancer and other neuroendocrine cancers. Molecular Partners has established partnerships with industry leaders and academic centers covering the full value chain of radiotherapeutics. Molecular Partners, founded in 2004, has offices in both Zurich, Switzerland and Concord, MA, USA. For more information, visit www.molecularpartners.com and find us on LinkedIn.

For further details, please contact:

Seth Lewis, EVP Corporate Finance
Concord, Massachusetts, U.S.
[email protected]
Tel: +1 781 420 2361

Laura Jeanbart, PhD, Head of Portfolio Management & Corporate Communications
Zurich-Schlieren, Switzerland
[email protected]
Tel: +41 44 575 19 35

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended, including without limitation: implied and express statements regarding the clinical development of Molecular Partners’ current or future product candidates; expectations regarding timing for reporting data from ongoing clinical trials or the initiation of future clinical trials; the potential therapeutic and clinical benefits of Molecular Partners’ product candidates and its RDT and Switch-DARPin platforms; the selection and development of future programs; Molecular Partners’ collaboration with Orano Med including the benefits and results that may be achieved through the collaboration; and Molecular Partners’ expected business and financial outlook, including anticipated expenses and cash utilization for 2026 and its expectation of its current cash runway. These statements may be identified by words such as “aim”, “anticipate”, “expect”, “guidance”, “intend”, “outlook”, “plan”, “potential”, “will” and similar expressions, and are based on Molecular Partners’ current beliefs and expectations. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Some of the key factors that could cause actual results to differ from Molecular Partners’ expectations include, but are not limited to, those set forth under the heading “Risk Factors” in Molecular Partners’ Annual Report on Form 20-F for the year ended December 31, 2025 and other filings Molecular Partners makes with the SEC from time to time. These documents are available on the Investors page of Molecular Partners’ website at www.molecularpartners.com. In addition, this press release contains information relating to interim data as of the relevant data cutoff date, results of which may differ from topline results that may be obtained in the future.

Any forward-looking statements speak only as of the date of this press release and are based on information available to Molecular Partners as of the date of this release, and Molecular Partners assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.