Sutro Biopharma Presents Promising Preclinical Data Across its Pipeline of Next-Generation Single and Dual-Payload ADC Programs at AACR 2026

STRO-004 demonstrates robust and consistent antitumor activity across multiple TF-expressing
solid tumor PDX models, with improved efficacy versus benchmark ADCs

STRO-006 and STRO-227 show meaningful, dose-dependent antitumor activity across solid tumor models

Presentation of TROP2-targeted immunostimulatory ADC program partnered with Astellas highlights the potential of Sutro’s platform for developing dual-payload ADCs

SOUTH SAN FRANCISCO, Calif., April 19, 2026 (GLOBE NEWSWIRE) — Sutro Biopharma, Inc. (Sutro or the Company) (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), today announced promising preclinical data across its pipeline of next- generation ADCs in five posters and one oral presentation at the American Association for Cancer Research (AACR) Annual Meeting 2026. Of note, results from a preclinical study of STRO-004, its DAR8 Topo1 ADC targeting Tissue Factor (TF), were reviewed today in an oral presentation titled “STRO-004, an exatecan-based next-generation tissue factor (TF)-targeted ADC, demonstrates superior efficacy across TF-expressing solid tumors in a comprehensive single-mouse PDX trial.”

In the preclinical study, STRO-004 demonstrated robust and consistent antitumor activity across a broad range of TF-expressing solid tumor patient-derived xenograft (PDX) models, with improved efficacy compared to benchmark ADCs. At a single, clinically relevant dose of 5 mg/kg, STRO-004 achieved remarkable disease control and tumor reduction across multiple tumor types. STRO-004’s favorable tolerability, with a highest non-severely toxic dose (HNSTD) of 50 mg/kg, and pharmacokinetic profile are expected to enable increased drug exposure and payload delivery, supporting the Company’s belief that STRO-004 will demonstrate superior depth and durability of response in the clinic. Exploratory biomarker analyses provide preliminary insight into STRO-004’s mechanism of action, suggesting potential for combination studies addressing specific indications in either early or late lines of treatment.

“The STRO-004 preclinical data presented today underscore the potential of our next-generation ADCs to drive meaningful activity across multiple solid tumors,” said Jane Chung, Sutro’s Chief Executive Officer. “As STRO-004 advances in the clinic – with initial results from our Phase 1 study expected in mid-2026 – these preclinical data further strengthen our confidence in its potential across indications. More broadly, they underscore the versatility of our platform to generate differentiated ADCs across many targets and payloads, supporting a pipeline designed to address significant unmet need in cancer.”

In addition to the oral presentation, Sutro will present multiple posters highlighting advances across its ADC pipeline and discovery platforms, the full details of which are included below.

Select Poster Highlights:

  • Preclinical data for STRO-006, an integrin β6-targeting ADC (DAR 8 exatecan), demonstrated robust, dose-dependent antitumor activity across multiple solid tumor models at a single, clinically relevant dose of 5 mg/kg, including non-small cell lung cancer (NSCLC) and head and neck cancers. The program also shows a favorable pharmacokinetic and tolerability profile, supporting its potential as a differentiated next-generation ADC with IND submission planned for 2026.
  • Preclinical data for STRO-227, a PTK7-targeting dual-payload ADC (DAR 10; 8 exatecan + 2 MMAE), demonstrated robust, dose-dependent antitumor activity across multiple solid tumor models, including breast, ovarian and NSCLC, with improved efficacy versus single-payload ADCs. The program also shows favorable pharmacokinetics, stable payload delivery, and tolerability comparable to benchmark ADCs, supporting the potential of its dual-payload design. These findings position STRO-227 as a differentiated ADC with broad applicability across solid tumors. Sutro expects to file an IND for STRO-227, its first wholly-owned dual-payload ADC, in late 2026.

Full Poster Presentation Details:

  • Poster: “Phase 1 open-label study to evaluate safety, pharmacokinetics, and preliminary anti-tumor activity of STRO-004 in adults with refractory/recurrent metastatic solid tumors”
    • Session Date and Time: Monday, April 20, 2026; 9:00 AM-12:00 PM PT
  • Poster: “STRO-006: An Integrin beta-6–targeting ADC demonstrates favorable safety profile and potent antitumor activity in preclinical solid tumors”
    • Session Date and Time: Monday, April 20, 2026; 9:00 AM-12:00 PM PT
  • Poster: “Preclinical characterization of STRO-227: A PTK7-targeting dual-payload ADC with topoisomerase 1 and tubulin inhibitors”
    • Session Date and Time: Monday, April 20, 2026; 9:00 AM-12:00 PM PT
  • Poster: “The HER2-targeting dual-payload antibody-drug conjugate combining a topoisomerase I inhibitor and a microtubule inhibitor demonstrates superior efficacy and overcomes resistance to single-payload ADCs in xenograft models”
    • Session Date and Time: Monday, April 20, 2026; 9:00 AM-12:00 PM PT
  • Poster: “Sutro’s Site-Specific Dual-Payload ADCs Combining TOPO1i and DNA Damage Response Inhibitors to Enhance Efficacy, Overcome Resistance, and Improve Safety”
    • Session Date and Time: Tuesday, April 21, 2026; 9:00 AM-12:00 PM PT

In addition to these presentations, Sutro’s strategic partner, Astellas Pharma, also reviewed preclinical results from its TROP2-targeted iADC program at AACR today. The oral presentation, titled “ASP2998, a TROP2-targeted immunostimulatory antibody-drug conjugate (iADC) with dual payloads, demonstrates potent efficacy and a favorable safety profile in nonclinical models,” highlighted the company’s progress in the development of next-generation iADCs leveraging Sutro’s cell-free protein synthesis platform. ASP2998 is a first-in-class iADC that combines cytotoxic and immune-stimulatory mechanisms to enhance antitumor efficacy. Inclusion of a STING agonist augments the antitumor efficacy, immune activation and durable tumor immunity of ASP2998, supporting its superior activity over toxin-only anti-TROP2 ADCs. Preclinically, ASP2998 demonstrated a favorable safety profile, supporting a promising therapeutic index. ASP2998 entered the clinic earlier this year and is actively dosing patients.

Following the congress, the Company’s presentations will be made available in the Scientific Publications section of Sutro Biopharma’s website at www.sutrobio.com.

About Sutro Biopharma

Sutro Biopharma, Inc. is a clinical-stage biotechnology company advancing a next-generation antibody-drug conjugate (ADC) platform designed to deliver single- and dual-payload ADCs that enable meaningful breakthroughs for patients with cancer. By fully optimizing the antibody, linker, and payload, Sutro’s cell-free platform produces ADCs that are engineered to improve drug exposure, reduce side effects, and expand the range of treatable tumor types. With unique capabilities in dual-payload ADCs, Sutro aims to overcome treatment resistance and redefine what’s possible in cancer therapy. The Company’s pipeline of single- and dual-payload ADCs targets large oncology markets with limited treatment options and significant need for improved therapies.

For more information, follow Sutro on social media @Sutrobio or visit www.sutrobio.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the therapeutic potential and anticipated clinical benefits of STRO-004, STRO-006, STRO-227, and other ADC product candidates; Astellas’ development of ASP2998; anticipated preclinical and clinical development activities; timing of announcements of IND submissions, trial initiation, clinical results, and other regulatory filings; outcome of discussions with regulatory authorities; potential benefits of the Company’s product candidates and platform; potential business development and partnering transactions; and potential market opportunities for the Company’s product candidates; the timing and receipt of anticipated future milestone payments. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, the Company cannot guarantee future events, results, actions, levels of activity, performance or achievements, and the timing and results of biotechnology development and potential regulatory approval is inherently uncertain. Forward-looking statements are subject to risks and uncertainties that may cause the Company’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to the Company’s ability to advance its product candidates, the receipt and timing of potential regulatory designations, approvals and commercialization of product candidates, the market size for the Company’s product candidates being smaller than anticipated, clinical trial sites, supply chain and manufacturing facilities, the Company’s ability to obtain, maintain and recognize the benefits of certain designations received by product candidates, the timing and results of preclinical and clinical trials, the Company’s ability to fund development activities and achieve development goals, the Company’s ability to protect intellectual property, and the Company’s commercial collaborations with third parties and other risks and uncertainties described under the heading “Risk Factors” in documents the Company files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

Investor Contact
Emily White
Sutro Biopharma
(650) 823-7681
[email protected]

Media Contact
Amy Bonanno
Lyra Strategic Advisory
[email protected]



SBC Medical Announces Pricing of Secondary Public Offering of 3.1 Million Shares of Common Stock

SBC Medical Announces Pricing of Secondary Public Offering of 3.1 Million Shares of Common Stock

IRVINE, Calif.–(BUSINESS WIRE)–SBC Medical Group Holdings Incorporated (Nasdaq: SBC) (“the Company”), a Management Service Organization operating a wide range of franchise businesses across diverse medical fields, today announced the pricing of the underwritten secondary public offering of 3,100,000 shares of the Company’s common stock by Dr. Yoshiyuki Aikawa (the “Selling Stockholder”) at the public offering price of $3.25 per share. Additionally, the Selling Stockholder has granted the underwriters a 45-day option to purchase up to an additional 465,000 shares of the Company’s common stock. The offering is expected to close on or about April 21, 2026, subject to customary closing conditions.

The Company is not selling any shares of its common stock in the offering. The Selling Stockholder will receive all of the proceeds from the offering.

Maxim Group LLC is acting as the sole book-running manager and Roth Capital Partners is acting as the co-manager for the offering.

The offering is being made pursuant to the Company’s effective shelf registration statement on Form S-3, including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”). The offering will be made only by means of a prospectus supplement filed with the SEC and the accompanying prospectus. A preliminary prospectus supplement and the accompanying prospectus relating to the offering were filed with the SEC. Before you invest, you should read the preliminary prospectus supplement and the accompanying prospectus in their entirety and other documents the Company has filed with the SEC for more complete information about the Company and the offering. The preliminary prospectus supplement and the accompanying prospectus contain important, detailed information about the Company and the offering. You may also obtain these and the other documents referred to above, and the final prospectus supplement when available, for free by visiting the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus, and the final prospectus supplement when available, may be obtained by contacting: Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, New York 10022, Attention: Syndicate Department, or by telephone at (212) 895-3745 or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About SBC Medical

SBC Medical Group Holdings Incorporated is a Management Services Organization operating a wide range of franchise businesses across diverse medical fields, including advanced aesthetic healthcare, dermatology, orthopedics, fertility treatment, gynecology, dentistry, alopecia treatment (AGA), and ophthalmology. The Company manages a diverse portfolio of clinic brands and is actively expanding its global presence, particularly in the United States and Asia, through both direct operations and medical tourism initiatives. In September 2024, the Company was listed on Nasdaq, and in June 2025, it was selected for inclusion in the Russell 3000® Index, a broad benchmark of the U.S. equity market. Guided by its Group Purpose “Contributing to the well-being of people around the world through medical innovation,” SBC Medical Group Holdings Incorporated continues to provide safe, trusted, and high-quality medical services while further strengthening its international reputation for quality and trust in medical care.

Forward Looking Statements

This press release contains forward-looking statements. Forward-looking statements are not historical facts or statements of current conditions, but instead represent only the Company’s beliefs regarding future events and performance, many of which, by their nature, are inherently uncertain and outside of the Company’s control. In some cases, forward-looking statements can be identified by the use of words such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” “targets,” “hopes,” “intends” or the negative of these or similar terms. The Company cautions readers not to place undue reliance upon any forward-looking statements, which are current only as of the date of this release and are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. The forward-looking statements are based on management’s current expectations and are not guarantees of future performance. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. Factors that may cause actual results to differ materially from current expectations may emerge from time to time, and it is not possible for the Company to predict all of them; such factors include, among other things, changes in global, regional, or local economic, business, competitive, market and regulatory conditions, and those listed under the heading “Risk Factors” and elsewhere in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov.

SBC Medical Group Holdings Incorporated

Hikaru Fukui / Head of IR Department; E-mail: [email protected]

KEYWORDS: California United States Japan North America Asia Pacific

INDUSTRY KEYWORDS: General Health Other Health Hospitals Health Practice Management

MEDIA:

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Monopar Presents Phase 3 Data Showing Greater Neurologic Benefit with ALXN1840 vs SoC in Wilson Disease Patients with Neurologic Symptoms at AAN 2026

WILMETTE, Ill., April 19, 2026 (GLOBE NEWSWIRE) — Monopar Therapeutics Inc. (“Monopar” or the “Company”) (Nasdaq: MNPR), a clinical-stage biopharmaceutical company developing innovative treatments for patients with unmet medical needs, announced new analyses from the randomized controlled Phase 3 FoCus trial of ALXN1840 (tiomolibdate choline, TMC) showing greater neurologic benefit versus standard of care (SoC) in Wilson disease patients with neurologic symptoms at baseline. The data will be presented today at the American Academy of Neurology (AAN) Annual Meeting 2026, taking place April 18-22, 2026.

In a late-breaker oral and poster presentation titled “Greater clinical benefit with tiomolibdate choline versus standard-of-care in neurologic Wilson disease patients in the Phase 3 FoCus Trial,” Dr. Peter Hedera, MD, PhD, Department of Neurology, University of Louisville School of Medicine, will present results showing that ALXN1840 provided greater neurologic improvement and significantly less worsening than standard of care through Week 48, with durable neurologic benefit observed over multiple years of treatment.

  • In the randomized FoCus trial, analysis of patients with neurologic symptoms at baseline (TMC: n=77; SoC: n=35) demonstrated that treatment with ALXN1840 resulted in both higher rates of improvement and lower rates of worsening, addressing a critical unmet need in the neurologic management of Wilson disease.
    • Clinically meaningful neurologic worsening at Week 48 was observed in 25% of patients treated with standard of care vs 9% of ALXN1840-treated patients (p=0.038)
    • Clinically meaningful neurologic improvement at Week 48 was observed in 45% of ALXN1840-treated patients vs 32% on standard of care
    • CGI-S improvement from baseline to Week 48 was greater with ALXN1840 vs standard of care (61% vs 17%; p=0.008)
    • CGI-I improvement at Week 48 was greater with ALXN1840 vs standard of care (47% vs 19%; p=0.003)
  • Durable neurologic benefit in the ALXN1840-treated group continued to increase during long-term follow-up on treatment and was sustained over approximately 3 years
  • Neurologic benefit was consistent across both treatment-naïve and treatment-experienced patients with neurologic symptoms at baseline, supporting ALXN1840’s potential as a novel treatment option for Wilson disease
  • ALXN1840 has demonstrated a well-characterized and favorable safety profile across Phase 2 and Phase 3 studies (266 patients; median 2.58 years on treatment; max >8 years), with drug-related serious adverse events (SAEs) limited to 4.9% of patients — including neurologic SAEs in < 1% — and no treatment-related deaths

“These data highlight the potential of ALXN1840 to meaningfully change the treatment landscape for Wilson disease patients with neurologic symptoms by delivering both improved clinical outcomes and a lower likelihood of neurologic deterioration compared to standard of care,” said Dr. Hedera.

The presentation and poster are available on Monopar’s website.

These findings support the continued advancement of ALXN1840 toward the planned New Drug Application (NDA) submission to the U.S. Food and Drug Administration (FDA) in mid-2026.

About Wilson Disease

Wilson disease is a rare genetic disorder that affects approximately 1 in 30,000 people worldwide. It is caused by mutations in the ATP7B gene, which impairs the body’s ability to excrete copper. It is characterized by toxic accumulation of copper in the liver, brain, and other organs, leading to progressive and potentially fatal outcomes if untreated.

About ALXN1840

ALXN1840 (tiomolibdate choline, TMC) is a novel first-in-class Albumin Tripartite Complex (ATC) activator under investigation for the treatment of Wilson disease. ALXN1840 rapidly mobilizes and tightly sequesters excess copper in ATCs, suppressing its redox reactivity, limiting oxidative damage, and blocking transport across the blood–brain barrier. Clinical data demonstrate that ALXN1840 improves copper balance by increasing fecal copper excretion. In the Phase 3 pivotal trial, ALXN1840 demonstrated rapid and sustained copper mobilization (primary endpoint) that was significantly greater than standard of care over 48 weeks in both previously treated and untreated patients. Durable clinical improvement and a favorable safety and tolerability profile were observed across 645 patient-years of follow-up in 266 patients.

About Monopar Therapeutics Inc.

Monopar Therapeutics is a clinical-stage biopharmaceutical company with late-stage ALXN1840 for Wilson disease, and radiopharmaceutical programs including Phase 1-stage MNPR-101-Zr for imaging advanced cancers, and Phase 1a-stage MNPR-101-Lu and late preclinical-stage MNPR-101-Ac225 for the treatment of advanced cancers. For more information, visit: www.monopartx.com.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Examples of these forward-looking statements include statements concerning: that the neurologic benefit supports ALXN1840’s potential as a novel treatment option for Wilson disease; that ALXN1840 has the potential to meaningfully change the treatment landscape for Wilson disease patients with neurologic symptoms by delivering both improved clinical outcomes and a lower likelihood of neurologic deterioration compared to standard of care; that these findings support the continued advancement of ALXN1840 toward the planned submission of an NDA to the FDA in mid-2026. The forward-looking statements involve risks and uncertainties including, but not limited to: uncertainties related to the regulatory process that Monopar intends to initiate related to ALXN1840 and the outcome thereof; the rate of market acceptance and competitiveness in terms of pricing, efficacy and safety, of any products for which Monopar receives marketing approval, and Monopar’s ability to competitively market any such products as compared to larger pharmaceutical firms; Monopar’s ability to raise sufficient funds in order for the Company to support continued preclinical, clinical, regulatory, pre-commercial and commercial development of its programs and to make contractual milestone payments, as well as its ability to further raise additional funds in the future to support any existing or future product candidate programs through completion of clinical trials, the approval processes and, if applicable, commercialization; and the significant general risks and uncertainties surrounding the research, development, regulatory approval, and commercialization of therapeutics and imaging agents. Actual results may differ materially from those expressed or implied by such forward-looking statements. Risks are described more fully in Monopar’s filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Monopar undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. Any forward-looking statements contained in this press release represent Monopar’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.

CONTACT:

Monopar Therapeutics Inc.

Investor Relations
Quan Vu
Chief Financial Officer
[email protected]

Follow Monopar on social media for updates:    
X: @MonoparTx  LinkedIn: Monopar Therapeutics  



Amplitude Research Reveals a Generational AI Trust Gap is Costing Australian Businesses

Amplitude Research Reveals a Generational AI Trust Gap is Costing Australian Businesses

New research suggests senior leaders’ distrust of AI is driving inefficient implementation and widening Australia’s AI skills gap.

SYDNEY–(BUSINESS WIRE)–
New research by Amplitude, Inc. (Nasdaq: AMPL), the leading AI analytics platform, has revealed a generational divide in how much business leaders and their employees trust artificial intelligence (AI), a trend that may be limiting the benefits of the technology to Australian businesses and hampering the development of much needed AI skills across the country.

Just 4% of workers aged 55–64 say they trust AI recommendations over their own judgement, compared to 31% of 18–24 year olds, according to Amplitude’s study. At the same time, 39% of those aged 18–24 use AI tools daily in their job, compared to just 20% of those aged 55–64. These figures highlight a stark gap in trust between older professionals, who are more likely to be in leadership roles, and younger professionals who are most likely to be in more junior positions.

Yet despite the propensity for younger professionals to use AI tools more regularly at work, only 13% of respondents aged 18–24 years and 9% of those aged 25–34 indicate that AI is core to their organisation’s work. Comparatively, close to half (48%) of respondents say their organisation is getting better at AI but still has a way to go, while 24% say their organisation rarely uses AI at all.

This lack of AI direction at an organisational level is reflected in the development of AI skills among professionals, especially among younger generations. There are more professionals aged 18–24 who primarily upskill in AI outside of work hours (40%) than those who upskill during work hours (32%). Only 5% of respondents across all age groups say they upskill in AI through mentorship or peer learning.

These figures suggest that, although AI tools are being actively used for work among younger professionals, there appears to be a lack of strategic AI guidance from the senior ranks. Without leadership-led AI frameworks, businesses may run the risk of experiencing a mismatch between the latent potential of AI tools and the outcomes of their implementation – whether official or unofficial.

“The age-based discrepancy in trust around AI means senior decision-makers may inadvertently downplay its potential, limiting the value organisations derive from these tools,” said Mark Drasutis, Head of Value, Asia Pacific and Japan, Amplitude. “Without strategic implementation, AI is more likely to fall short of its goals. At a national level, this generational trust gap risks creating a structural adoption ceiling that restricts skills development and exacerbates Australia’s existing AI skills shortage.”

The research also revealed:

  • AI use is widespread but not universal: 27% of respondents use AI tools daily and 33% a few times a week, while 24% say they use AI tools only occasionally, and 15% report not using AI at work at all.
  • AI use is concentrated in content and information tasks: The most common use cases are writing or editing documents, emails and reports (44%), summarising information (38%), and supporting data analysis or reporting (31%).
  • A high avoidance of AI for judgement-heavy tasks: 28% avoid using AI for decision-making or strategic planning, 25% for data analysis or reporting, 22% for coding, debugging or technical work and 20% for scheduling or meeting preparation.
  • Top reasons for avoiding AI in higher-stakes tasks: Prefer own judgement/creativity (34%), lack of trust in accuracy (32%), outputs feel generic (30%), and confidentiality leakage risk (29%).
  • Self-assessed AI skill levels are low: One-third (33%) describe themselves as beginners or not skilled, another 34% say they are somewhat skilled – able to use AI tools but not expertly – and only 6% consider themselves highly skilled and ahead of the curve.
  • Overall trust in AI outputs is limited: On a scale of 1–5, the mean trust score for AI outputs at work is 2.59, with 50% trusting their own judgement more than AI, compared with 15% who trust AI more.
  • Perceived productivity gains are modest: While 12% say AI has transformed how they work or somewhat helps (54%), 23% believe it adds more work than it saves, and 11% say it actively slows them down.
  • Organisational AI maturity remains low: Only 8% say their organisation is AI-driven, while 65% spend either no time or less than an hour per week learning or experimenting with AI tools.
  • Career impact expectations are mixed: Over half (58%) believe AI will meaningfully change demand for their role in the next 5 years, while 32% do not believe it will change the demand for their job; 16% say AI users already have a career advantage.
  • Personal AI use affects its use in the workplace: Nearly half (48%) strongly agree or agree the personal use of AI has influenced how they use it at work, while just 23% disagree or strongly disagree it’s influenced their use at work.
  • AI is creating uneven team dynamics and quiet tension at work: While 45% say AI hasn’t changed team dynamics, 18% report colleagues competing to prove they are more AI-savvy and 11% say non-users resent those who rely heavily on AI. Perceived tension is concentrated among younger workers, with only 23–25% of 18–34 year olds reporting no AI-related tension, compared with 64–66% of workers aged 55+.

For more information about the research, contact [email protected].

Note: all percentages have been rounded to the nearest whole number.

About Amplitude

Amplitude is the leading AI analytics platform, helping over 4,700 customers—including Atlassian, Burger King, NBCUniversal, and Square—build better products and digital experiences. With powerful AI Agents embedded across our platform, teams can analyze, test, and optimize user experiences faster than ever. Ranked #1 across multiple categories in G2’s Winter 2026 Report, Amplitude is the best-in-class solution for product, data, and marketing teams. Learn more at amplitude.com.

[email protected]

KEYWORDS: Australia/Oceania Australia Asia Pacific

INDUSTRY KEYWORDS: Software Professional Services Business Consumer Baby Boomers Technology Artificial Intelligence Data Analytics Generation Z Human Resources Generation X Millennials

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KIMMTRAK doubles the likelihood of being alive at five years for first line HLA-A*02:01+ patients with metastatic uveal melanoma


KIMMTRAK doubles the likelihood of being alive at five years for first line HLA-A*02:01+ patients with metastatic uveal melanoma

OS benefit observed across key subgroups, including patients with high tumor burden, elevated LDH, and extrahepatic disease as well as those with best response of progressive disease

This is the longest OS follow-up in a randomized trial in metastatic uveal melanoma and for any T cell engager in a solid tumor

(OXFORDSHIRE, England & GAITHERSBURG, Md., & RADNOR, Penn., US, 19 April 2026) Immunocore Holdings plc (Nasdaq: IMCR) (“Immunocore” or the “Company”), a commercial-stage biotechnology company pioneering and delivering transformative immunomodulating medicines to radically improve outcomes for patients with cancer, infectious diseases and autoimmune diseases, today announced that KIMMTRAK® (tebentafusp-tebn) five-year overall survival (OS) was presented in an oral session at the American Association for Cancer Research (AACR) 2026 meeting.

This is the longest, prospective Phase 3 randomized trial in patients with unresectable or metastatic uveal melanoma (mUM) – a disease with a very poor prognosis and a historical survival rate of <5% at 5 years1. KIMMTRAK doubled the likelihood of being alive at five years, with an OS for KIMMTRAK of 16% versus 8% in the control arm (hazard ratio [HR] of 0.67 [95% CI: 0.54-0.85]). These results also represent the longest follow-up reported for any T cell engager in a solid tumor.

In the trial, 378 patients were randomized to tebentafusp (252) or investigator’s choice (126; 82% pembrolizumab). The median OS was 21.6 months on KIMMTRAK, versus 16.9 months on investigator’s choice (IC). The Kaplan–Meier survival curves separated early and remained separated over time, confirming the durability of the benefit with extended follow-up.

“These important results allow us, for the first time, to speak with real confidence to patients about the possibility of long-term survival,” said Professor Paul Nathan, Consultant Medical Oncologist, Mount Vernon Cancer Centre, UK. “Before tebentafusp, such conversations simply weren’t possible for metastatic uveal melanoma patients.”

“These long-term overall survival results further solidify KIMMTRAK as the first-line standard of care for HLA-A*02:01 positive patients with metastatic uveal melanoma,” said Mohammed Dar, Immunocore Chief Medical Officer. “The survival benefit was evident even in patients with known poor prognostic factors, including those with large tumors and extrahepatic disease.”

The data confirmed that the OS benefit was primarily driven by tebentafusp rather than subsequent therapies. Among patients treated with KIMMTRAK who were alive at five years, nearly half (44%) received only KIMMTRAK, while among patients in the control arm alive at the same time point, 86% subsequently received tebentafusp.

Importantly, the OS benefit with KIMMTRAK was observed regardless of known poor prognostic factors at baseline (high tumor burden [≥10cm]; elevated lactate dehydrogenase [LDH]) or tumor location (hepatic only; hepatic and extra-hepatic). OS benefit was also observed in patients with a best response of progressive disease, including those with >20% tumor growth as best change on treatment.

More patients continued treatment beyond progression in the KIMMTRAK arm than in the control arm (57% vs 25%) – with the trial allowing this option in both arms. Patients on KIMMTRAK achieved nearly a 7-fold higher rate of tumor reduction with treatment beyond initial progression compared to IC patients (27% vs 4%). In fact, patients who continued tebentafusp treatment beyond tumor progression experienced longer post-progression survival compared to those who stopped treatment, even after accounting for variations in patient characteristics.

In tebentafusp-treated patients, longer OS was associated with undetectable ctDNA at baseline or ctDNA reductions ≥50% by week 9. Among 21 ctDNA-evaluable patients who survived ≥ 5 years, 71% had undetectable baseline ctDNA and 29% had ctDNA clearance by week 9. Deep reductions in ctDNA were seen across all RECIST categories. Early ctDNA molecular response continues to be a more sensitive marker of tebentafusp activity than radiographic measurements.

The data were presented today in an oral session during the AACR 2026 meeting:

Title: Five-year survival with tebentafusp in previously untreated metastatic uveal melanoma in a Phase 3 trial (CT029)
Presenting author: Paul Nathan
Session: Advanced Cellular and Immune-Based Therapeutics

###

About ImmTAC

®

molecules for cancer

Immunocore’s proprietary T cell receptor (TCR) technology generates a novel class of bispecific biologics called ImmTAC (Immune mobilizing monoclonal TCRs Against Cancer) molecules that are designed to redirect the immune system to recognize and kill cancerous cells. ImmTAC molecules are soluble TCRs engineered to recognize intracellular cancer antigens with ultra-high affinity and selectively kill these cancer cells via an anti-CD3 immune-activating effector function. Based on the demonstrated mechanism of T cell infiltration into human tumors, the ImmTAC mechanism of action holds the potential to treat hematologic and solid tumors, regardless of mutational burden or immune infiltration, including immune “cold” low mutation rate tumors.

About Uveal Melanoma

Uveal melanoma is a rare and aggressive form of melanoma, which affects the eye. This is the most common primary intraocular malignancy in adults and up to 50% of people with uveal melanoma will eventually develop metastatic disease. Unresectable or metastatic uveal melanoma typically has a poor prognosis and had no approved treatment until KIMMTRAK.

About KIMMTRAK

®

KIMMTRAK is a novel bispecific protein comprised of a soluble T cell receptor fused to an anti-CD3 immune-effector function. KIMMTRAK specifically targets gp100, a lineage antigen expressed in melanocytes and melanoma. This is the first molecule developed using Immunocore’s ImmTAC technology platform, designed to redirect and activate T cells to recognize and kill tumor cells. KIMMTRAK has been approved for the treatment of HLA-A*02:01-positive adult patients with unresectable or metastatic uveal melanoma in the United States, European Union, Canada, Australia, and the United Kingdom.

IMPORTANT SAFETY INFORMATION

Cytokine Release Syndrome (CRS), which may be serious or life-threatening, occurred in patients receiving KIMMTRAK. Monitor for at least 16 hours following first three infusions and then as clinically indicated. Manifestations of CRS may include fever, hypotension, hypoxia, chills, nausea, vomiting, rash, elevated transaminases, fatigue, and headache. CRS occurred in 89% of patients who received KIMMTRAK, with 0.8% being grade 3 or 4. Ensure immediate access to medications and resuscitative equipment to manage CRS. Ensure patients are euvolemic prior to initiating the infusions. Closely monitor patients for signs or symptoms of CRS following infusions of KIMMTRAK. Monitor fluid status, vital signs, and oxygenation level and provide appropriate therapy. Withhold or discontinue KIMMTRAK depending on persistence and severity of CRS.

Skin Reactions

Skin reactions, including rash, pruritus, and cutaneous edema occurred in 91% of patients treated with KIMMTRAK. Monitor patients for skin reactions. If skin reactions occur, treat with antihistamine and topical or systemic steroids based on persistence and severity of symptoms. Withhold or permanently discontinue KIMMTRAK depending on the severity of skin reactions.

Elevated Liver Enzymes

Elevations in liver enzymes occurred in 65% of patients treated with KIMMTRAK. Monitor alanine aminotransferase (ALT), aspartate aminotransferase (AST), and total blood bilirubin prior to the start of and during treatment with KIMMTRAK. Withhold KIMMTRAK according to severity.

Embryo-Fetal Toxicity

KIMMTRAK may cause fetal harm. Advise pregnant patients of potential risk to the fetus and patients of reproductive potential to use effective contraception during treatment with KIMMTRAK and 1 week after the last dose.

The most common adverse reactions (≥30%) in patients who received KIMMTRAK were cytokine release syndrome, rash, pyrexia, pruritus, fatigue, nausea, chills, abdominal pain, edema, hypotension, dry skin, headache, and vomiting. The most common (≥50%) laboratory abnormalities were decreased lymphocyte count, increased creatinine, increased glucose, increased AST, increased ALT, decreased hemoglobin, and decreased phosphate.

For more information, please see full Summary of Product Characteristics (SmPC) or full U.S. Prescribing Information (including BOXED WARNING for CRS).

About KIMMTRAKConnect

Immunocore is committed to helping patients who need KIMMTRAK obtain access via its KIMMTRAKConnect program. The US program provides services with dedicated nurse case managers who provide personalized support, including educational resources, financial assistance, and site of care coordination. To learn more, visit KIMMTRAKConnect.com or call 844-775-2273.

About Immunocore

Immunocore is a commercial-stage biotechnology company pioneering the development of a novel class of TCR bispecific immunotherapies called ImmTAX – Immune mobilizing monoclonal TCRs Against X disease – designed to treat a broad range of diseases, including cancer, autoimmune diseases and infectious diseases. Leveraging its proprietary, flexible, off-the-shelf ImmTAX platform, Immunocore is developing a deep pipeline in multiple therapeutic areas, including clinical and pre-clinical programs​ in oncology, infectious diseases, and autoimmune diseases. The Company’s most advanced oncology TCR therapeutic, KIMMTRAK, has been approved for the treatment of HLA-A*02:01-positive adult patients with unresectable or metastatic uveal melanoma in the United States, European Union, Canada, Australia, and the United Kingdom.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “may”, “will”, “believe”, “expect”, “plan”, “anticipate”, “aim”, “continue”, “target” and similar expressions (as well as other words or expressions referencing future events or circumstances) are intended to identify forward-looking statements. All statements, other than statements of historical facts, included in this press release are forward-looking statements. These statements include, but are not limited to, statements regarding the Company’s strategic priorities for 2026, including the Company’s ability to grow its commercial franchise with new melanoma indications, to reach more patients and to deliver on KIMMTRAK’s lifecycle management program; the Company’s ability to expand beyond melanoma into other tumor types and to realize growth opportunities beyond oncology; the potential of the Company’s melanoma franchise; the Company’s ability to advance its clinical pipeline; expectations regarding sales growth; expectations regarding the design, progress, timing, enrollment, randomization, scope, expansion, and results of the Company’s and its collaborators’ existing and planned clinical trials; the timing and sufficiency of clinical trial outcomes to support potential approval of any of the Company’s product candidates or those of, or combined with, its collaboration partners; the Company’s ability to leverage its expertise and dataset to inform clinical development; the expected submission of clinical trial applications or investigational new drug applications; the potential regulatory approval, expected clinical benefits and availability of the Company’s product candidates; and the Company’s preliminary unaudited cash, cash equivalents and marketable securities as of December 31, 2025. Any forward-looking statements are based on management’s current expectations and beliefs of future events and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially and adversely from those set forth in or implied by such forward-looking statements, many of which are beyond the Company’s control. These risks and uncertainties include, but are not limited to, the impact of worsening macroeconomic conditions, including as a result of health epidemics or pandemics, war in Ukraine, the conflict in the Middle East, or global geopolitical tension, on the Company’s business, financial position, strategy and anticipated milestones, including Immunocore’s ability to conduct ongoing and planned clinical trials; the Company’s ability to obtain a clinical supply of current or future product candidates or commercial supply of KIMMTRAK or any future approved products; the Company’s ability to obtain and maintain regulatory approval of KIMMTRAK and its other product candidates; the Company’s ability and plans in continuing to establish and expand a commercial infrastructure and to successfully launch, market and sell KIMMTRAK and any future approved products; the Company’s ability to successfully expand the approved indications for KIMMTRAK or obtain marketing approval for KIMMTRAK in additional geographies in the future; the delay of any current or planned clinical trials, whether due to patient enrollment delays or otherwise; the Company’s ability to successfully demonstrate the safety and efficacy of its product candidates and gain approval of its product candidates on a timely basis, if at all; competition with respect to market opportunities; unexpected safety or efficacy data observed during preclinical studies or clinical trials; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials or future regulatory approval; Immunocore’s need for and ability to obtain additional funding, on favorable terms or at all, including as a result of worsening macroeconomic conditions, including changes in inflation and interest rates and unfavorable general market conditions, and the impacts thereon of the war in Ukraine, the conflict between Hamas and Israel, and global geopolitical tension; Immunocore’s ability to obtain, maintain and enforce intellectual property protection for KIMMTRAK or any of its product candidates it or its collaborators are developing; and the success of Immunocore’s current and future collaborations, partnerships or licensing arrangements. These and other risks and uncertainties are described in greater detail in the section titled “Risk Factors” in Immunocore’s filings with the Securities and Exchange Commission, including Immunocore’s most recent Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission on February 26, 2025, as well as discussions of potential risks, uncertainties, and other important factors in the Company’s subsequent filings with the SEC. All information in this press release is as of the date of the release, and the Company undertakes no duty to update this information, except as required by law. In addition, as the reported cash and cash equivalents in this press release are preliminary, have not been audited and are subject to change pending completion of the Company’s audited financial statements for the year ended December 31, 2025, it is possible that the Company or its independent registered public accounting firm may identify items that require the Company to make adjustments to the amount included in this release, and such changes could be material. Additional information and disclosures would also be required for a more complete understanding of the Company’s financial position and results of operations as of December 31, 2025.

Contact Information

Immunocore

Sébastien Desprez, Head of Communications
T: +44 (0) 7458030732
E: [email protected]
Follow on LinkedIn: @Immunocore

Investor Relations

Morgan Morse
T: +1 (215) 384-4781
E: [email protected]


1 Rantala ES et al. Overall survival after treatment for metastatic uveal melanoma: a systematic review and meta-analysis. Melanoma Res. 2019 Dec;29(6):561-568. doi: 10.1097/CMR.0000000000000575.



Xenon Presents Azetukalner Phase 3 X-TOLE2 Study Results and 48-Month Long-term Data in Focal Onset Seizures at 2026 AAN Annual Meeting

  • Azetukalner data show significant reductions in seizure frequency across weekly, monthly and multi-year time points
  • X-TOLE2 data featured in Late-breaking Science session show 53.2% reduction in monthly seizure frequency in 25 mg group vs. 10.4% for placebo and increasing rates of 100% seizure reduction over time during 12-week double-blind period
  • Long-term data from the ongoing X-TOLE OLE study at 48 months show nearly 40% of participants achieving at least 12 months of seizure freedom and one in four participants achieving at least 24 months of seizure freedom
  • Real-world data reinforce the value of anti-seizure medications that do not require titration to reduce stress and simplify focal seizure management for both patients and physicians

VANCOUVER, British Columbia and BOSTON, MA, April 19, 2026 (GLOBE NEWSWIRE) — Xenon Pharmaceuticals Inc. (Nasdaq: XENE), a neuroscience-focused biopharmaceutical company dedicated to drug discovery, clinical development and commercialization of life-changing therapeutics for patients in need, today presented positive data from the Phase 3 X-TOLE2 study highlighting the efficacy and safety of azetukalner in focal onset seizures (FOS) at the American Academy of Neurology (AAN) Annual Meeting, taking place April 18-22, 2026 in Chicago, Illinois. Xenon is also presenting data at the AAN meeting that reinforce the significant opportunity for azetukalner in epilepsy, including 48-month data from the ongoing X-TOLE open-label extension (OLE) study, as well as real-world data reinforcing the potential value that no-titration options like azetukalner would bring to epilepsy management. Azetukalner (AZK) is a novel, potent, KV7 potassium channel opener currently in clinical development for epilepsy and depression.

“Our data at the 2026 AAN meeting highlight the potential of azetukalner to become a preferred medication for addressing uncontrolled seizures,” said Chris Kenney, MD, Chief Medical Officer of Xenon. “In X-TOLE2, azetukalner demonstrated the best placebo-adjusted efficacy ever observed in a pivotal FOS study, to our knowledge. These data are particularly striking considering nearly 60% of the patient population were taking or had already discontinued cenobamate and were experiencing a high seizure burden with a median of 13 seizures per month at baseline. Equally remarkable was the ability for some of these patients to gain complete seizure control, with increasing rates of 100% seizure reduction the longer patients were on therapy. This trend is reinforced by the long-term data from our X-TOLE OLE study, showing nearly 40% of patients treated for at least 48 months achieved at least 12 months of seizure freedom, which is the clinically defined timepoint for seizure freedom across the field.”

“Across the X-TOLE, X-TOLE OLE, and X-TOLE2 studies, we have observed robust efficacy as early as week 1, increasing seizure control through the double-blind and open-label periods, impressive seizure freedom over time, including the ability to regain extended periods of seizure freedom with azetukalner in the event of a breakthrough seizure, and a consistent and generally well-tolerated safety profile,” said Ian Mortimer, President and CEO of Xenon. “Taken together, this robust body of data underscores our belief that azetukalner has the potential to deliver much needed innovation for ASMs, with strong efficacy, a different mechanism that may enable rational polytherapy, and ease-of-use benefits like no titration, once-daily dosing, and no dose adjustments for other ASMs. We are working hard toward submitting our New Drug Application to the FDA in the third quarter of 2026, bringing azetukalner one step closer to reaching clinicians and patients.”


Clinical Data for Azetukalner (AZK) in Epilepsy

Oral & Poster Presentation #7 (LS1 – Late-breaking Science Session 1):

Results from the Phase 3 X-TOLE2 Study Evaluating Azetukalner, a Novel, Potent K



V



7 Channel Opener, in Adults with Focal Onset Seizures (FOS)

X-TOLE2 was a Phase 3, multicenter, randomized, double-blind, placebo-controlled study evaluating the clinical efficacy, safety, and tolerability of AZK as adjunctive treatment in adults with FOS over a 12-week double-blind period (DBP). Participants had highly treatment-resistant epilepsy, with a median baseline seizure frequency of 12.75 per month, a median of five prior anti-seizure medications (ASMs), and 51.3% using three concomitant ASMs. Approximately 40% of participants entering the study were taking concomitant cenobamate, while 19% had previously tried and discontinued cenobamate.

  • Early and significant reductions in seizure frequency (Median Percent Change in FOS): Treatment with 25 mg or 15 mg AZK resulted in a statistically significant -53.2% or -34.5% Median Percent Change (MPC), respectively, from baseline through the DBP in monthly FOS, compared to a -10.4% MPC for placebo (p<0.0001 for both 25 and 15 mg vs. placebo). Dose-dependent MPC reductions in weekly FOS were observed from baseline to week 1, which were sustained through the DBP with both AZK doses.
  • Dose-dependent increase in 50%, 75%, and 90% Responder Rates: There was a statistically significant, dose-dependent increase in the proportion of participants with a ≥50% reduction in monthly seizure frequency from baseline through the DBP. Dose-dependent increases in the proportion of participants with a ≥75% and a ≥90% reduction in monthly seizure frequency were also observed.
  • Improvements in 100% Responder Rate observed over time: A 100% reduction in monthly FOS frequency from baseline through the DBP was attained by a greater proportion of participants with AZK 25 mg than with placebo (6.5% vs. 0.8%, respectively; nominal p<0.05). A post hoc analysis showed that a greater proportion of participants achieved a 100% Responder Rate over time with AZK in the last eight, six and four weeks of the DBP (nominal p<0.05) as AZK reached steady-state levels.

    • Last 8 weeks: 25 mg: 10.5%, 15 mg: 5.6%, placebo: 2.4%
    • Last 6 weeks: 25 mg: 11.3%, 15 mg: 8.0%, placebo: 4.0%
    • Last 4 weeks: 25 mg: 13.7%, 15 mg: 12.8%, placebo: 4.0%
  • Consistent safety and tolerability profile with X-TOLE: The most common treatment-emergent adverse events (TEAEs) across both AZK dose groups were dizziness (20.5%), headache (8.8%), somnolence (8.8%), and fatigue (7.6%) as compared to the placebo group, which reported dizziness (3.2%), headache (6.4%), somnolence (7.2%), and fatigue (6.4%). The incidence of serious TEAEs was low and similar across treatment groups, with 5.6% in the 25 mg group, 3.2% in the 15 mg group, and 2.4% in the placebo group experiencing a serious TEAE. No notable weight gain, severe allergic rashes, retinal pigment epithelium or macular abnormalities, or notable cardiovascular adverse events occurred during the DBP. These results are consistent with the Phase 2b X-TOLE safety and tolerability results.

Poster Presentation #10-001 (P11 – Poster Session 11):

Azetukalner, a Novel, Potent K



V



7 Channel Opener, in Adults with Focal Epilepsy: ≥48-Month Interim Analysis of the Ongoing 7-Year X-TOLE Open-Label Extension

AZK demonstrated long-term efficacy and safety in the ≥48-month interim analysis of the X-TOLE OLE study, including continued reductions in seizure frequency and improvements in seizure freedom over time. X-TOLE is a completed Phase 2b, randomized, double-blind, placebo-controlled, parallel-group, dose-ranging, multicenter study, with an ongoing seven-year OLE evaluating the efficacy, safety, and tolerability of 20 mg azetukalner as adjunctive treatment in adults with FOS.

  • Continued reductions in monthly FOS frequency (MPC) with longer AZK treatment: Participants treated for ≥48 months (n=131) in the OLE had an MPC reduction in monthly FOS frequency of -69.8% at month one in the OLE, which further increased to -85.1% at month 12 and reached -90.9% at month 48.
  • Greater MPC reductions in less refractory participants: Those receiving one or two ASMs at the beginning of the X-TOLE DBP (n=60) had greater MPC reductions in monthly FOS frequency than those receiving three ASMs (n=69) at month 48 (100% vs. 81.8% reduction in monthly FOS frequency, respectively).
  • Sustained periods of seizure freedom: The clinically accepted definition of seizure freedom is no seizures for at least 12 months. Among the participants treated for ≥48 months in the OLE (n=131), seizure freedom for any ≥12-month consecutive duration was attained by 38.2% of participants. Seizure freedom for any ≥24-, ≥36-, and ≥48- month consecutive duration was attained by 25.2%, 19.8% and 10.7% of the participants respectively.
  • Consistent safety and tolerability: As of data cut-off, the OLE has generated more than 775 patient-years of safety and exposure data. Long-term safety of AZK in the OLE was comparable with the safety observed in the X-TOLE DBP.


Real-World Data on ASM Titration

Poster Presentation #11-007 (P3 – Poster Session 3)

: Treatment Experiences with Anti-seizure Medications (ASMs): Patient–Clinician Perspectives on Titration Burden, Quality of Life, and No-Titration Options

In a real-world analysis, patient and healthcare professional (HCP) perspectives suggest that ASM titration imposes a meaningful burden for both groups, with patients reporting challenges related to medication schedules, daily life and quality-of-life during titration periods, and physicians reporting challenges related to treatment complexity and cross-titration. When questioned on their perceptions of ASMs without titration, most patients noted that they either agree or strongly agree that initiating an ASM without needing to titrate to a stable dose would boost their confidence (90%), reduce anxiety (77%), and improve adherence (84%). Physicians noted that no-titration options would cause less stress and increase simplicity for both physicians and patients, as many patients are already on complex drug regimens. These findings suggest using ASMs that do not require titration may offer benefits and underscore the potential value of avoiding a titration period to reduce stress and simplify FOS management for both patients and physicians. They also suggest an opportunity to further simplify care and integrate the patient voice into decision-making.


More Information About Xenon’s AAN Presentations

For more information about Xenon’s presence at AAN 2026 and for the full list of presentations, including additional epilepsy real-world data and pre-clinical data for Xenon’s NaV1.1 program for Dravet syndrome, please visit this link. Posters will be available after the live presentations.


About Azetukalner

Azetukalner is a novel, potent KV7 potassium channel opener currently in Phase 3 clinical trials for the treatment of epilepsy, major depressive disorder (MDD), and bipolar depression (BPD). It represents the most advanced, clinically validated potassium channel modulator in late-stage clinical development. Azetukalner is designed to open potassium channels in the central nervous system, allowing potassium ions to flow and hyperpolarizing neurons. This process helps reduce excessive neuronal firing, which is a key contributor to several neurologic and psychiatric disorders. It is the only KV7 potassium channel opener in development for multiple indications that is backed by long-term efficacy and safety data in epilepsy patients and proof-of-concept data in MDD patients.


About X-TOLE2

The X-TOLE2 clinical trial (NCT05614063) was a randomized, double-blind, placebo-controlled, multicenter Phase 3 study evaluating the efficacy, safety, and tolerability of azetukalner, administered as an oral, adjunctive therapy once-daily with food in adult patients with FOS. The study randomized participants in a blinded manner to either azetukalner 25 mg, 15 mg, or placebo, and included a total of 380 randomized participants, with 374 participants in the safety and modified intent-to-treat (mITT) population for the safety and efficacy analyses. Participants had highly treatment-resistant epilepsy, with a median of five prior ASMs, a baseline seizure frequency of 12.75 per month, and 51.3% using three concomitant ASMs. Of the 332 participants who completed the double-blind period, 322 entered the open-label extension study.


About Epilepsy and Focal Onset Seizures

Epilepsy is a neurological condition characterized by abnormal electrical activity in the brain that leads to spontaneous, recurrent and unprovoked seizures. It is the fourth most common neurological condition and affects approximately three million adults in the U.S. Focal epilepsy is the most common form of epilepsy. It is characterized by recurrent seizures that originate in a specific area of the brain (i.e. “focal onset seizures”), leading to various motor, sensory, autonomic, or cognitive symptoms depending on the affected region. Epilepsy is often managed with polytherapy – or concurrent use of multiple antiseizure medications (ASMs) – in an attempt to improve seizure control. However, despite a large number of available epilepsy treatments, up to half of people with focal epilepsy still live with uncontrolled seizures. Epilepsy treatment is further complicated by often burdensome drug interactions and lengthy titration and dose-adjustment periods. These challenges highlight the critical need for a new therapeutic approach.


About Xenon Pharmaceuticals Inc.

Xenon Pharmaceuticals (Nasdaq: XENE) is a neuroscience-focused biopharmaceutical company dedicated to drug discovery, clinical development, and commercialization of life-changing therapeutics for patients in need. Xenon’s lead molecule, azetukalner, is a novel, potent, selective KV7 potassium channel opener in Phase 3 clinical trials for the treatment of epilepsy, major depressive disorder (MDD) and bipolar depression (BPD). Xenon is also advancing an early-stage portfolio of multiple promising potassium and sodium channel modulators, including KV7 and NaV1.7 programs in Phase 1 development for the potential treatment of pain. Xenon has offices in Vancouver, British Columbia, and Boston, Massachusetts. For more information, visit www.xenon-pharma.com and follow us on LinkedIn and X.

Xenon and the Xenon logo are registered trademarks or trademarks of Xenon Pharmaceuticals Inc. in the US, Canada, and elsewhere. All other trademarks belong to their respective owner.


Safe Harbor Statement


This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 and Canadian securities laws. These forward-looking statements are not based on historical fact, and include statements regarding the timing of and potential results from clinical studies; the potential efficacy, safety profile, future development plans in current and anticipated indications, addressable market, regulatory success, and commercial potential of our and our partners’ product candidates; the efficacy of our clinical study designs; our ability to successfully develop and achieve milestones in our azetukalner and other pipeline and development programs, including the anticipated filing of investigational new drug applications and NDAs; the timing and results of our interactions with regulators, including the timing of any NDA submission; our ability to successfully develop and obtain regulatory approval of azetukalner and our other product candidates; and anticipated timing of topline data readout from our clinical studies of azetukalner. These forward-looking statements are based on current assumptions that involve risks, uncertainties and other factors that may cause the actual results, events, or developments to be materially different from those expressed or implied by such forward-looking statements. These risks and uncertainties, many of which are beyond our control, include, but are not limited to: clinical studies may not demonstrate safety and efficacy of any of our or our collaborators’ product candidates; promising results from pre-clinical development activities or early clinical study results may not be replicated in later clinical studies; our assumptions regarding our planned expenditures and sufficiency of our cash to fund operations may be incorrect; our ongoing discovery and pre-clinical efforts may not yield additional product candidates; any of our or our collaborators’ product candidates, including azetukalner, may fail in development, may not receive required regulatory approvals, or may be delayed to a point where they are not commercially viable; we may not achieve additional milestones in our proprietary or partnered programs; regulatory agencies may impose additional requirements or delay the initiation or completion of clinical studies; the impact of market, industry, and regulatory conditions on clinical study enrollment; the impact of competition; the impact of expanded product development and clinical activities on operating expenses; the impact of new or changing laws and regulations; the impact of unstable economic conditions in the general domestic and global economic markets; adverse conditions from geopolitical events; as well as the other risks identified in our filings with the U.S. Securities and Exchange Commission and the securities commissions in British Columbia, Alberta, and Ontario. These forward-looking statements speak only as of the date hereof and we assume no obligation to update these forward-looking statements, and readers are cautioned not to place undue reliance on such forward-looking statements.


Contacts:


For Investors: 
Tucker Kelly 
Chief Financial Officer 
[email protected] 

For Media:

Colleen Alabiso 
Senior Vice President, Corporate Affairs 
[email protected] 



AST SpaceMobile Addresses Today’s Orbital Launch of BlueBird 7 on the New Glenn Launch Vehicle

AST SpaceMobile Addresses Today’s Orbital Launch of BlueBird 7 on the New Glenn Launch Vehicle

MIDLAND, Texas–(BUSINESS WIRE)–
AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government applications, addresses today’s orbital launch of BlueBird 7 on the New Glenn launch vehicle.

During the New Glenn 3 mission, BlueBird 7 was placed into a lower than planned orbit by the upper stage of the launch vehicle. While the satellite separated from the launch vehicle and powered on, the altitude is too low to sustain operations with its on-board thruster technology and will de-orbited. The cost of the satellite is expected to be recovered under the company’s insurance policy.

BlueBird 7 would have been AST SpaceMobile’s eighth deployed into low Earth orbit and is one of many planned for its space-based cellular broadband network. The company is currently in production through BlueBird 32, with BlueBird 8 to 10 expected to be ready to ship in approximately 30 days.

The company continues to expect an orbital launch every one to two months on average during 2026, supported by agreements with multiple launch providers, and it continues to target approximately 45 satellites in orbit by the end of 2026.

About AST SpaceMobile

AST SpaceMobile is building the first and only global cellular broadband network in space to operate directly with standard, unmodified mobile devices based on our extensive IP and patent portfolio, and designed for both commercial and government applications. Our engineers and space scientists are on a mission to eliminate the connectivity gaps faced by today’s five billion mobile subscribers and finally bring broadband to the billions who remain unconnected. For more information, follow AST SpaceMobile on YouTube, X (Formerly Twitter), LinkedIn and Facebook. Watch this video for an overview of the SpaceMobile mission.

Forward-Looking Statements

This communication contains “forward-looking statements” that are not historical facts, and involve risks and uncertainties that could cause actual results of AST SpaceMobile to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes,” “estimates,” “anticipates,” “expects,” “intends,” “plans,” “may,” “will,” “would,” “potential,” “projects,” “predicts,” “continue,” or “should,” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside AST SpaceMobile’s control and are difficult to predict.

Factors that could cause such differences include, but are not limited to: (i) expectations regarding AST SpaceMobile’s strategies and future financial performance, including AST’s future business plans or objectives, expected functionality of the SpaceMobile Service, anticipated timing of the launch of the Block 2 BlueBird satellites, anticipated demand and acceptance of mobile satellite services, prospective performance and commercial opportunities and competitors, the timing of obtaining regulatory approvals, ability to finance its research and development activities, commercial partnership acquisition and retention, products and services, pricing, marketing plans, operating expenses, market trends, revenues, liquidity, cash flows and uses of cash, capital expenditures, and AST SpaceMobile’s ability to invest in growth initiatives; (ii) the negotiation of definitive agreements with mobile network operators relating to the SpaceMobile Service that would supersede preliminary agreements and memoranda of understanding and the ability to enter into commercial agreements with other parties or government entities; (iii) the ability of AST SpaceMobile to grow and manage growth profitably and retain its key employees and AST SpaceMobile’s responses to actions of its competitors and its ability to effectively compete; (iv) changes in applicable laws or regulations; (v) the possibility that AST SpaceMobile may be adversely affected by other economic, business, and/or competitive factors; (vi) the outcome of any legal proceedings that may be instituted against AST SpaceMobile; and (vii) other risks and uncertainties indicated in the Company’s filings with the Securities and Exchange Commission (SEC), including those in the Risk Factors section of AST SpaceMobile’s Form 10-K filed with the SEC on March 2, 2026.

AST SpaceMobile cautions that the foregoing list of factors is not exclusive. AST SpaceMobile cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors in AST SpaceMobile’s Form 10-K filed with the SEC on March 2, 2026. AST SpaceMobile’s securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable securities law, AST SpaceMobile disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Investor Contact:

Scott Wisniewski

[email protected]

Media Contact:

Allison

Eva Murphy Ryan

917-547-7289

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Technology Satellite Aerospace Manufacturing Mobile/Wireless Telecommunications

MEDIA:

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Revolution Medicines to Present Updated Phase 1 Clinical Data for Zoldonrasib in Patients with Previously Treated KRAS G12D Non-Small Cell Lung Cancer at the 2026 AACR Annual Meeting

REDWOOD CITY, Calif., April 19, 2026 (GLOBE NEWSWIRE) — Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, today announced updated Phase 1 (RMC-9805-001) clinical data for zoldonrasib, an oral RAS(ON) G12D-selective inhibitor, in patients with previously treated KRAS G12D non-small cell lung cancer (NSCLC). Results were highlighted in the official press program at the American Association for Cancer Research (AACR) Annual Meeting and will be featured in a plenary oral presentation today, April 19, 2026, at 1:30 p.m. PDT.

“Patients with RAS G12D non-small cell lung cancer remain a population with a significant unmet medical need for targeted therapeutic options,” said Jonathan Riess M.D., medical director of thoracic oncology at UC Davis Comprehensive Cancer Center and principal investigator for the RMC-9805-001 trial. “The manageable safety profile and evidence of clinical activity in this Phase 1 trial are encouraging and support the continued clinical development of zoldonrasib.”

“We believe these updated data further strengthen the profile of zoldonrasib as a potentially important targeted therapy for patients with RAS G12D non-small cell lung cancer where historical treatment options, such as chemotherapy, have offered limited benefit, and are often associated with considerable toxicity,” said Alan Sandler, M.D., chief development officer of Revolution Medicines. “The emerging profile supports advancing zoldonrasib across monotherapy and combination settings in lung cancer and other RAS G12D-driven cancers.”

Summary of Phase 1 Zoldonrasib Data at AACR 2026 (

Abstract #
CT021

)

RMC-9805-001 is a multicenter, open-label, dose escalation and dose expansion Phase 1 trial designed to evaluate zoldonrasib in patients with advanced solid tumors harboring a KRAS G12D mutation. The data to be presented at the AACR Annual Meeting are as of a December 1, 2025 data cutoff, and included 40 patients with KRAS G12D NSCLC treated with zoldonrasib 1200 mg once daily, the recommended Phase 2 dose, and who were evaluable for safety. Efficacy analyses were conducted in a subset of patients with prior immune checkpoint inhibitor and platinum chemotherapy and no prior docetaxel treatment who had sufficient follow-up for response assessment (n=27).

Zoldonrasib was generally well tolerated and demonstrated a safety profile consistent with previously reported findings. Treatment-related adverse events (TRAEs) of any grade occurring in at least 15% of patients were nausea (43%), vomiting (33%), diarrhea (30%), and rash (18%). The majority of TRAEs were Grade 1 in severity. Grade 3 TRAEs occurred in 13% of patients and resolved following dose interruption; TRAEs led to treatment discontinuation in 5% of patients. No Grade 4 or Grade 5 TRAEs were observed. Zoldonrasib demonstrated a favorable mean dose intensity of 94%.

Zoldonrasib demonstrated encouraging clinical activity in patients with KRAS G12D NSCLC previously treated with immune checkpoint inhibitor and platinum chemotherapy and no prior docetaxel. Among this subset of patients (n=27), the confirmed objective response rate was 52% (confidence interval (CI): 32, 71) and the disease control rate was 93% (CI: 76, 99). Median time to response was 1.4 months and median duration of response was not yet estimable (95% CI: 8.3, not estimable). Median progression-free survival (PFS) was 11.1 months (95% CI: 5.3, not estimable), with an estimated 12-month PFS rate of 48% (95% CI: 27, 66). Overall survival (OS) data were immature at the time of analysis, and median OS was not yet reached with median potential follow-up of 13.1 months (range: 9.1–19.9). Estimated survival rate at 12 months was 73% (95% CI: 52, 86), suggesting encouraging early survival outcomes.

About Non-Small Cell Lung Cancer

Non-small cell lung cancer (NSCLC) accounts for 80%-85% of all lung cancers, with more than 229,000 people diagnosed in the U.S. each year.1,2 Despite treatment advancements, NSCLC remains a leading cause of cancer-related mortality worldwide, primarily due to its late-stage diagnosis and limited response to conventional therapies. KRAS G12D is the most common oncogenic driver of human cancers and represents 4% of NSCLC cases.3

About Zoldonrasib

Zoldonrasib is a tri-complex inhibitor that binds to cyclophilin A, creating a complex that selectively recognizes and inhibits the active, oncogenic RAS G12D(ON) mutant. KRAS G12D is the most prevalent RAS mutation, accounting for 29% of all RAS cancers, and currently lacks an approved targeted therapy.4 Across tumor types, approximately 61,000 new patients with RAS G12D cancers are estimated each year in the United States.5 Zoldonrasib is currently being evaluated as a monotherapy and in combination with other therapies, including with Revolution Medicines’ RAS(ON) multi-selective inhibitor daraxonrasib (RMC-6236), as well as standard of care regimens in lung and gastrointestinal cancers.

About Revolution Medicines, Inc.

Revolution Medicines is a late-stage clinical oncology company developing novel targeted therapies for patients with RAS-addicted cancers. The company’s R&D pipeline comprises RAS(ON) inhibitors designed to suppress diverse oncogenic variants of RAS proteins. The company’s RAS(ON) inhibitors daraxonrasib (RMC-6236), a RAS(ON) multi-selective inhibitor; elironrasib (RMC-6291), a RAS(ON) G12C-selective inhibitor; zoldonrasib (RMC-9805), a RAS(ON) G12D-selective inhibitor; and RMC-5127, a RAS(ON) G12V-selective inhibitor, are currently in clinical development. Additional development opportunities in the company’s pipeline focus on RAS(ON) mutant-selective inhibitors, including RMC-0708 (Q61H) and RMC-8839 (G13C). For more information, please visit www.revmed.com and follow us on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements,” including without limitation statements regarding the company’s development strategy and its ability to build or advance its portfolio and R&D pipeline; progression of clinical studies and findings from these studies, including the tolerability, safety, and potential efficacy of the company’s candidates being studied; and the potential of zoldonrasib as a therapeutic option for RAS G12D-driven cancers.

Forward-looking statements are typically, but not always, identified by the use of words such as “aims,” “anticipate,” “believe,” “estimate,” “expect,” “plan,” “potential,” “project,” “up to,” “will” and other similar terminology indicating future results. Such forward-looking statements are subject to substantial risks and uncertainties that could cause the company’s development programs, future results, performance, or achievements to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include without limitation risks and uncertainties inherent in the drug development process, including the company’s programs’ development stages, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, the company’s ability to successfully establish, protect and defend its intellectual property, other matters that could affect the sufficiency of the company’s capital resources to fund operations, reliance on third parties for manufacturing and development efforts, changes in the competitive landscape, and the effects on the company’s business of the global events, such as international conflicts or global pandemics. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Revolution Medicines in general, see Revolution Medicines’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 25, 2026, and its future periodic reports to be filed with the SEC. Except as required by law, Revolution Medicines undertakes no obligation to update any forward-looking statements to reflect new information, events, or circumstances, or to reflect the occurrence of unanticipated events.

Revolution Medicines Media & Investor Contact:

[email protected]
[email protected]

1 American Cancer Society. What is Lung Cancer. Available at: https://www.cancer.org/cancer/types/lung-cancer/about/what-is.html. Accessed April 2026.
2 American Cancer Society. Key Statistics for Lung Cancer. Available at: https://www.cancer.org/cancer/types/lung-cancer/about/key-statistics.html. Accessed April 2026.
3 Ricciuti B, Alessi JV, Elkrief A, et al. Dissecting the clinicopathologic, genomic, and immunophenotypic correlates of KRASG12D-mutated non-small-cell lung cancer. Ann Oncol. 2022;33(10): 1029-1040. doi:10.1016/j.annonc.2022.07.005
4 Lee JK, Sivakumar S, Schrock AB, et al. Comprehensive pan-cancer genomic landscape of KRAS altered cancers and real-world outcomes in solid tumors. NPJ Precis Oncol. 2022;6(1):91. doi:10.1038/s41698-022-00334-z
5 Estimated using tumor mutation frequencies from Foundation Medicine Insights March 2022 and scaled to estimated patient numbers using cancer incidence from ACS Cancer Facts and Figures 2023.



QXO to Acquire TopBuild for $17 Billion

QXO to Acquire TopBuild for $17 Billion

QXO to Become the Second Largest Publicly Traded Building Products Distributor in North America, with More Than $18 Billion of Combined Company Revenue and More Than $2 Billion of Combined Company Adjusted EBITDA

Landmark Transaction Is Expected to Be Immediately and Substantially Accretive to QXO’s Earnings

GREENWICH, Conn. & DAYTONA BEACH, Fla.–(BUSINESS WIRE)–
QXO, Inc. (NYSE: QXO) today announced that it has entered into a definitive agreement to acquire TopBuild Corp. (NYSE: BLD) (“TopBuild”) for approximately $17 billion, significantly expanding QXO’s scale and capabilities across the building products value chain. The transaction is expected to be immediately and substantially accretive to the company’s earnings.

TopBuild is the largest distributor and installer of insulation and related building products in North America. The combination will bring together QXO’s leading positions in roofing, waterproofing, lumber-related building materials, and associated products with TopBuild’s insulation capabilities, creating a higher-margin business with expansive value-added offerings for customers.

The transaction has been unanimously approved by the boards of directors of both companies and is subject to customary closing conditions, including approval by the shareholders of TopBuild and QXO. The acquisition is expected to close in the third quarter of 2026.

On April 1, 2026, QXO completed its previously announced acquisition of Kodiak Building Partners (“Kodiak”), a leading distributor of lumber, trusses, and other building materials, for approximately $2.25 billion. Upon completion of the TopBuild transaction, QXO will operate in an addressable market of more than $300 billion and hold leadership positions in key building product verticals in North America:

  • #1 in insulation

  • #2 in roofing

  • #1 in waterproofing

  • #1 or #2 in the lumber and building materials sector, in key geographies served

Brad Jacobs, Chairman and Chief Executive Officer of QXO, said: “Over the past 11 months, we’ve built QXO into a market leader through more than $13 billion of acquisitions, closing on Beacon in 2025 and Kodiak earlier this month. TopBuild will be our most significant acquisition yet, making QXO the second largest publicly traded building products distributor in North America, with more than $18 billion of combined company revenue and more than $2 billion of combined company adjusted EBITDA.”

Jacobs continued, “The TopBuild transaction will also give us critical mass in the insulation sector and expand our exposure to large, complex projects like data centers, where scale matters. TopBuild has a deep bench of best-in-class operators, reflected in its industry-leading adjusted EBITDA margin of approximately 18%. We plan to replicate their best practices across QXO, including deploying their ‘special OPS’ teams to continuously improve operational excellence and customer service.”

Robert Buck, Chief Executive Officer of TopBuild, said: “We’re excited to join QXO and combine our leadership in insulation installation and specialty distribution with QXO’s scale, technology, and procurement capabilities. Together, we’ll enhance customer service, unlock meaningful cross-selling opportunities, and drive continued growth and operating efficiency. I’m proud of our team’s track record, including a 10-year sales CAGR of 13% and adjusted EPS CAGR of 31%. Thank you to the entire TopBuild team for delivering these exceptional results.”

Following the acquisition of TopBuild, QXO will have approximately 28,000 employees, 1,150 locations across all 50 U.S. states and seven Canadian provinces, and a fleet size of more than 10,000 vehicles.

Proposed Transaction

The transaction values each TopBuild share at $505, representing a premium of 19.8% to TopBuild’s 60-day volume-weighted average price and 23.1% to TopBuild’s closing price on Friday, April 17, 2026. Under the terms of the agreement, TopBuild stockholders will have the right to elect to receive $505 in cash or 20.2 shares of QXO common stock for each TopBuild share held, subject to proration, on the condition that the total transaction consideration is paid as approximately 45% in cash and 55% in shares of QXO common stock. The maximum cash proceeds will be capped in aggregate at 45% of the transaction consideration. QXO may increase the maximum amount of stock consideration in the transaction if TopBuild stockholders elect to receive more than 55% of the consideration in shares of QXO common stock. Under the terms of the agreement, QXO will expand its board of directors to include one nominee from TopBuild.

In 2025, TopBuild generated approximately $6.2 billion of net sales and approximately $1.14 billion of adjusted EBITDA, in each case adjusted to reflect the full year contribution of acquisitions completed throughout the year. QXO expects to realize approximately $300 million of synergies from the integration of TopBuild by 2030, including revenue synergies from cross-selling an expanded range of integrated solutions, as well as cost synergies from scaled procurement, network optimization, logistics efficiencies, inventory management improvements, and world-class technology.

The purchase price of approximately $17 billion represents 14.9 times TopBuild’s 2025 adjusted EBITDA before the impact of expected synergies, and 11.8 times TopBuild’s 2025 adjusted EBITDA after the impact of expected synergies—in both cases adjusted EBITDA reflects the full-year contribution of acquisitions completed throughout 2025.

TopBuild’s management has guided to $9 billion to $10 billion in annual revenue and $1.7 billion to $2.0 billion in annual adjusted EBITDA by 2030, driven by a combination of organic growth and accretive M&A across a $90+ billion addressable market. Additionally, TopBuild management has guided to cumulative free cash flow of $4.2 billion to $5.0 billion from 2026 to 2030. TopBuild’s free cash flow conversion (free cash flow divided by adjusted EBITDA) has consistently been in the 60% to 70% range.

Advisors

Morgan Stanley & Co. LLC is acting as lead financial advisor to QXO, and Barclays and Wells Fargo Securities are acting as additional financial advisors to QXO. Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel to QXO. Goldman Sachs & Co. LLC and RBC Capital Markets are serving as financial advisors to TopBuild, and Jones Day is acting as legal counsel to TopBuild.

About QXO

QXO, Inc. (NYSE: QXO) is the largest publicly traded distributor of roofing, waterproofing, and related products and the second largest publicly traded distributor of lumber and building materials in North America. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth.

About TopBuild

TopBuild Corp., headquartered in Daytona Beach, Florida, is the largest distributor and installer of insulation and related building products in North America. The company provides installation and distribution services across residential, commercial, and industrial end markets, including insulation used in walls, attics, floors, and roofing assemblies; complementary products such as gutters, fireproofing, and mechanical insulation; and specialized roofing systems for large-scale buildings such as airports, stadiums, and warehouses. TopBuild operates more than 450 locations across the United States and Canada.

Non-GAAP Financial Measures

This communication includes references to financial measures that are prepared other than in accordance with generally accepted accounting principles in the United States (“GAAP”). These non-GAAP financial measures include, but are not limited to, combined company revenue, combined company adjusted EBITDA and adjusted EBITDA. We calculate combined company revenue by adding the 2025 revenue of QXO, Kodiak and TopBuild, in each case adjusted to reflect the full year contribution of acquisitions completed throughout the year. We calculate combined company adjusted EBITDA by adding the adjusted EBITDA of QXO, Kodiak and TopBuild, in each case further adjusted to reflect the full year contribution of acquisitions completed throughout the year, where adjusted EBITDA is calculated by each company as net (loss) income excluding depreciation; amortization; interest (income) expense, net; provision for (benefit from) income taxes; and certain other adjustments that are not considered representative of the applicable company’s underlying operations. Any non-GAAP financial measures used in this communication are in addition to, and should not be considered superior to, or a substitute for, financial statements prepared in accordance with GAAP. Other companies may calculate these non-GAAP financial measures differently, and therefore our measures may not be comparable to similarly titled measures of other companies.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets or goals, the expected timing of the closing of the proposed acquisition, the anticipated benefits of the proposed acquisition, including synergies, and expected future financial position, total addressable market, positions in building product verticals and results of operations, are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “target,” “goal,” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Factors that could cause actual results to differ materially from those described herein include, among others: (i) the risk that the proposed acquisition of TopBuild may not be completed on the anticipated terms in a timely manner or at all; (ii) the failure to satisfy any of the conditions to the consummation of the proposed acquisition, including the risk that the required shareholder approvals may not be obtained; (iii) the effect of the pendency of the proposed acquisition on each of QXO’s and TopBuild’s business relationships with employees, customers, or suppliers, or on operating results or the businesses generally; (iv) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the acquisition agreement for TopBuild, including circumstances that require the payment of a termination fee; (v) the possibility that the proposed acquisition may be more expensive to complete than anticipated, including as a result of unexpected factors or events, significant transaction costs or unknown liabilities; (vi) potential litigation and/or regulatory action relating to the proposed acquisition; (vii) the risk that the anticipated benefits of the proposed acquisition may not be fully realized or may take longer to realize than expected; (viii) the impacts of legislative, regulatory, economic, competitive or technological changes; (ix) QXO’s ability to finance the proposed acquisition; (x) unknown liabilities and uncertainties regarding general economic, market sector, competitive, legal, regulatory, tax and geopolitical conditions; and (xi) those risks and uncertainties set forth in QXO’s and TopBuild’s SEC filings, including each company’s Annual Report on Form 10-K for the year ended December 31, 2025 and any subsequent Quarterly Reports on Form 10-Q.

Forward-looking statements should not be relied on as predictions of future events, and these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement is made. Neither QXO nor TopBuild undertakes any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Important Information for Investors and Stockholders

In connection with the proposed acquisition, QXO expects to file a registration statement on Form S-4 with the SEC containing a preliminary prospectus of QXO that also constitutes a preliminary joint proxy statement of each of QXO and TopBuild. After the registration statement is declared effective, each of QXO and TopBuild will mail a definitive joint proxy statement/prospectus to stockholders of QXO and TopBuild, respectively. This communication is not a substitute for the joint proxy statement/prospectus or registration statement or for any other document that QXO or TopBuild may file with the SEC in connection with the proposed acquisition. INVESTORS AND SECURITY HOLDERS OF QXO AND TOPBUILD ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the joint proxy statement/prospectus (when available) and other documents filed with the SEC by QXO or TopBuild through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by QXO will be available free of charge on QXO’s website at https://investors.qxo.com and copies of the documents filed with the SEC by TopBuild will be available free of charge on TopBuild’s website at https://www.topbuild.com/investors. Additionally, copies may be obtained by contacting the investor relations department of QXO or TopBuild.

Participants in the Solicitation

QXO and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from QXO’s stockholders in connection with the proposed acquisition. Information regarding QXO’s directors and its executive officers, including a description of their direct or indirect interests, by security holdings or otherwise, can be found under the captions “Security Ownership of Certain Beneficial Owners and Management,” “Executive Compensation,” and “Director Compensation” contained in QXO’s definitive proxy statement on Schedule 14A for QXO’s 2026 annual meeting of stockholders, which was filed with the SEC on March 24, 2026. To the extent holdings of QXO’s securities by its directors or executive officers have changed since the applicable “as of” date described in its 2026 proxy statement, such changes will be reflected on Statements of Beneficial Ownership on Form 4 filed with the SEC.

TopBuild and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from TopBuild’s stockholders in connection with the proposed acquisition. Information regarding TopBuild’s directors and its executive officers, including a description of their direct or indirect interests, by security holdings or otherwise, can be found under the captions “Common Stock Ownership of Officers, Directors and Significant Shareholders,” “Compensation Committee Report,” and “Director Compensation” containedin TopBuild’s definitive proxy statement on Schedule 14A for TopBuild’s 2026 annual meeting of stockholders, which was filed with the SEC on March 17, 2026. To the extent holdings of TopBuild’s securities by its directors or executive officers have changed since the applicable “as of” date described in its 2026 proxy statement, such changes will be reflected on Statements of Beneficial Ownership on Form 4 filed with the SEC.

The information regarding the interests of such participants in the solicitation of proxies in respect of the potential transaction will be included in the registration statement and joint proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available.

QXO Contacts:

Media

Joe Checkler

[email protected]

203-609-9650

Steve Lipin

Gladstone Place Partners

212-230-5930

Investors

Mark Manduca

[email protected]

203-321-3889

TopBuild Contacts:

Media

FTI Consulting

Pat Tucker

[email protected]

Investors

PI Aquino

[email protected]

386-763-8801

KEYWORDS: Florida Connecticut United States North America

INDUSTRY KEYWORDS: Residential Building & Real Estate Building Systems Commercial Building & Real Estate Construction & Property Manufacturing Finance Professional Services Trucking Transport Other Manufacturing Landscape Interior Design Logistics/Supply Chain Management Architecture Other Construction & Property

MEDIA:

Logo
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Molecular Partners presents three posters at AACR 2026, with new preclinical data for first Switch-DARPin T cell engager MP0632 and DLL3 Radio-DARPin MP0712

  • MP0632 nominated as first logic-gated Switch-DARPin T cell engager candidate for the treatment of MSLN/EpCAM expressing solid tumors, with preclinical data indicating favorable therapeutic window
  • MP0712, Radio-DARPin candidate in on-going US Phase 1/2a trial, leverages high affinity to DLL3, half-life extension and DLL3 internalization for high tumor accumulation

ZURICH-SCHLIEREN, Switzerland and CONCORD, Mass, April 19, 2026 (GLOBE NEWSWIRE) — Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN), a clinical-stage biotech company developing a novel class of custom-built protein drugs known as DARPin therapeutics (“Molecular Partners” or the “Company”), today announced the presentation of new preclinical data across three posters at the American Association for Cancer Research (AACR) Annual Meeting 2026.

The first poster outlines preclinical data supporting proof-of-concept for MP0632, a logic-gated Switch-DARPin CD3 T cell engager with CD2 co-stimulation designed to selectively kill cells co-expressing mesothelin (MSLN) and epithelial cell adhesion molecule (EpCAM). MP0632 leads to regression of established tumors expressing both EpCAM and MSLN, with minimal impact on tumors expressing only one antigen, indicating a favorable therapeutic window. In addition, the Switch-DARPin candidate allowed for safe use of potent costimulation for efficient tumor cell killing with low cytokine release profile. The data support MP0632’s potential as clinical lead candidate for the treatment of ovarian cancer and other MSLN- and EpCAM-positive solid tumors.

“We are excited to present new data on MP0632, our first logic-gated T cell engager candidate leveraging our Switch-DARPin technology. We designed MP0632 to achieve potent yet safe tumor-localized immune activation through incorporation of CD2 costimulation and through unmasking of the CD3 binder upon binding to two co-expressed tumor antigens – MSLN and EpCAM. We are looking forward to advancing MP0632 and building on the strong preclinical data package, which indicates its potential to make a difference to cancer patients,” said Martin Steegmaier, Ph.D., CSO of Molecular Partners.

The second poster presents a computational workflow to identify and prioritize tumor-associated antigen pairs for improved tumor-selectivity and safety in support of designing novel Switch-DARPin candidates, such as MP0632. This scalable, data-driven platform provides a strong foundation for the discovery of next-generation multispecific immunotherapies. This workflow could also be leveraged for the identification of complementary tumor antigen pairs to address heterogeneous tumors, which could enable the design of next-generation multispecific Radio-DARPin candidates.

The third poster outlines the molecular characteristics of MP0712, the Company’s first 212Pb-based Radio-DARPin candidate, with high affinity binding to DLL3 and optimized half-life extended properties. MP0712’s properties are hypothesized to facilitate sustained tumor uptake through repeated DLL3 internalization-replenishment despite low cell surface density of the target, thereby supporting the attractive biodistribution profile of MP0712 observed in preclinical studies as well as in first patient imaging data from a Named Patient Access Program in South Africa using MP0712 with 203Pb.

MP0712, co-developed with strategic partner Orano Med, is evaluated in an ongoing Phase 1/2a trial in the US for the treatment of patients with small cell lung cancer (SCLC) and other DLL3-expressing neuroendocrine cancers.

Details of the presentations at AACR 2026:

Logic-gated Switch-DARPin T cell engager with CD2 co-stimulation for improved safety and efficacy in MSLN and EpCAM co-expressing ovarian cancer

Session Category: Immunology
Session Title: T Cell Engagers 1
Session Start: 4/20/2026 9:00 AM PT
Session End: 4/20/2026 12:00 PM PT
Location: Poster Section 10
Poster Board Number: 16
Poster Number: 1624

Logic-gated Switch-DARPin–based immune cell engagers guided by data-driven tumor-antigen profiling: A computational workflow for the development of cancer immunotherapies

Session Category: Bioinformatics / Computational Biology / Systems Biology / Convergent Science
Session Title: Application of Bioinformatics to Cancer Biology 3
Session Start: 4/20/2026 2:00 PM PT
Session End: 4/20/2026 5:00 PM PT
Location: Poster Section 1
Poster Board Number: 16
Poster Number: 2691

Molecular characteristics of MP0712, a clinical stage ²¹²Pb-based Radio-DARPin candidate for targeted anti-DLL3 radiotherapy of small cell lung cancer (SCLC)

Session Category: Experimental and Molecular Therapeutics
Session Title: Targeted Radiopharmaceuticals and Combination Strategies in Cancer Therapy
Session Start: 4/22/2026 9:00 AM PT
Session End: 4/22/2026 12:00 PM PT
Location: Poster Section 17
Poster Board Number: 16
Poster Number: 7197

The posters will be made available on Molecular Partners’ website after the presentations.

About Molecular Partners AG 
Molecular Partners AG (SIX: MOLN, NASDAQ: MOLN) is a clinical-stage biotech company pioneering a novel class of protein drugs known as DARPin therapeutics, for medical challenges other treatment modalities cannot readily address. Molecular Partners leverages the key properties of DARPins to design and develop differentiated therapeutics for cancer patients, including targeted radiopharmaceuticals and next-generation immune cell engagers. The Company has proprietary programs in various stages of pre-clinical and clinical development, as well as programs developed through partnerships with leading pharmaceutical companies and academic centers. 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 and Twitter / X @MolecularPrtnrs

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 & 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; the expected benefits of the strategic review; 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 in 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.