NurExone Announces First Quarter 2026 Financial Results and Provides Corporate Update

TORONTO, Ontario and HAIFA, Israel, June 01, 2026 (GLOBE NEWSWIRE) -- NurExone Biologic Inc. (TSXV: NRX) (OTCQB: NRXBF) (FSE: J90) (“NurExone” or the “Company”), a biopharmaceutical company developing exosome-based regenerative therapies, is pleased to announce its financial results for the first quarter ended March 31, 2026, and to provide a corporate update on recent activities and upcoming milestones.

The Company’s full set of unaudited condensed interim consolidated financial statements for the three months ended March 31, 2026, and accompanying management’s discussion and analysis can be accessed by visiting the Company’s website at www.nurexone.com and its SEDAR+ profile at www.sedarplus.ca.

Key Business Highlights

On January 30, 2026, the Company announced the appointment of Mr. Eyal Gabbai to its Board of Directors, bringing large-scale healthcare system and capital markets experience. Mr. Gabbai replaced Dr. Gadi Riesenfeld, who will continue to support the Company as a member of the Scientific Advisory Board.
On February 10, 2026, the Company announced positive results from an independent proteomic analysis conducted at the Technion - Israel Institute of Technology. The study evaluated multiple production batches of NurExone’s exosomes and confirmed batch-to-batch consistency through a repeatable protein “fingerprint.” By supporting the Company’s Chemistry, Manufacturing and Controls (“CMC”) readiness, a critical requirement for a potential investigational new drug application, these results advance the Company’s manufacturing and regulatory roadmap.
On March 10, 2026, the Company completed a non-brokered private placement (the “March 2026 Private Placement”) of units of the Company (each, a “March 2026 Unit”) through the issuance of an aggregate of 1,295,222 March 2026 Units. Each March 2026 Unit was issued at a price of C$0.68 per March 2026 Unit generating aggregate gross proceeds of approximately US$642 thousand (C$881 thousand), with issuance costs of approximately US$9 thousand (C$12 thousand). Each March 2026 Unit was comprised of (i) one common share in the capital of the Company (each, a “Common Share”) and (ii) one Common Share purchase warrant (each, a “March 2026 Warrant”). Each March 2026 Warrant entitles the holder thereof to purchase one Common Share at a price of C$0.85 per Common Share for a period of 36 months from the closing date, subject to acceleration. If the daily volume weighted average trading price of the Common Shares on the TSX Venture Exchange (“TSXV”) for any period of 20 consecutive trading days equals or exceeds C$1.70, the Company may, upon providing written notice to the holders of the March 2026 Warrants (the “March 2026 Offering Acceleration Notice”), accelerate the expiry date of the March 2026 Warrants to the date that is 30 days following the date of the March 2026 Offering Acceleration Notice. If the March 2026 Warrants are not exercised by the accelerated expiry date, the March 2026 Warrants will expire and be of no further force or effect. All securities issued under the March 2026 Private Placement were issued subject to applicable statutory hold periods.
On March 26, 2026, the Company announced that its subsidiaries Exo-Top Inc. (“Exo-Top”) and NurExone Biologic Ltd. entered into a sublicense agreement granting Exo-Top certain rights under the Company’s existing technology license agreement with Technion Research and Development Foundation Ltd. and Ramot, Tel Aviv University’s technology transfer company. The sublicense further establishes Exo-Top’s role in NurExone’s U.S. strategy and is intended to support future manufacturing, development, and commercialization activities for naïve exosomes in North America.
On March 27, 2026, the Company was awarded first place in the Healthcare category at the BOLD Awards VII Gala held in Barcelona, recognizing NurExone’s work in developing exosome-based therapies for central nervous system injuries.

First Quarter 2026 Financial Results

Research and development expenses were US$0.63 million in the first quarter of 2026, compared to US$0.62 million in the same quarter in 2025, primarily reflecting ongoing advancement of the Company’s development programs.
General and administrative expenses were US$1.13 million in the first quarter of 2026, compared to US$1.08 million in the same quarter in 2025, primarily reflecting higher share-based compensation and ongoing business activities.
Net finance expenses were US$0.01 million in the first quarter of 2026, compared to finance income of US$0.02 million in the same period in 2025, primarily due to lower royalty revaluation under the amended agreement effective Q1 2025.
Net loss for the first quarter of 2026 was US$1.77 million, compared to a net loss of US$1.68 million in the same quarter of 2025, primarily due to higher operating expenses.

Corporate Highlights and Business Update

On April 7, 2026, the Company announced that Exo-Top entered into a non-binding letter of intent (the “BioXtek LOI”) with Florida-based BioXtek Inc. (“BioXtek”) to explore a strategic partnership focused on exosome manufacturing and commercialization. The BioXtek LOI establishes a framework to negotiate a partnership supporting U.S. GMP manufacturing, clinical supply, and potential commercialization of bone marrow-derived mesenchymal stem cell exosomes. The BioXtek LOI is non-binding and is intended to provide a framework for further discussions. A potential strategic partnership remains subject to customary conditions, including the satisfactory completion of due diligence, negotiation and execution of a definitive agreement, receipt of required corporate approvals, and receipt of all required regulatory approvals, including acceptance by the TSXV. As of the date hereof, no definitive agreement has been executed and there can be no assurance that the discussions will result in a completed transaction.
On April 27, 2026, the Company announced that Australian Patent No. 2020303456, entitled “Production of extracellular vesicles from stem cells”, was granted effective April 23, 2026. The patent is held by the Technion Research and Development Foundation and is exclusively licensed to the Company. The patent is expected to remain in force until June 10, 2040 and further strengthens the Company’s intellectual property portfolio, following prior grants of corresponding patents in Israel and the United States.
On May 19, 2026, the Company announced that the Korean Ministry of Intellectual Property issued a Notice of Patent Grant for a patent application covering ExoPTEN, the Company’s lead therapeutic candidate. The patent application covers key aspects of ExoPTEN, including the use of exosomes as a natural drug delivery system to carry PTEN-targeting treatment for nerve injury.

CEO Commentary

“During the quarter and subsequent period, we continued to advance important value-building milestones across NurExone’s regulatory, IP and commercialization strategies,” said Dr. Lior Shaltiel, Chief Executive Officer of NurExone. “Each of these steps helps us build a stronger foundation for ExoPTEN, our lead therapeutic candidate, while further expanding the potential of our exosome platform across additional therapeutic and commercial opportunities.”

CFO Commentary

“Our first quarter reflects a continued disciplined allocation of resources toward our core development priorities,” said Eran Ovadya, Chief Financial Officer of NurExone. ”We remain focused on maintaining financial flexibility while supporting execution across our clinical, regulatory, and operational milestones.”

About NurExone

NurExone is a TSXV, OTCQB, and Frankfurt-listed biotech company focused on developing regenerative exosome-based therapies for central nervous system injuries. Its lead product, ExoPTEN, has demonstrated strong preclinical data supporting clinical potential in treating acute spinal cord and optic nerve damage. Regulatory milestones, including obtaining the Orphan Drug Designation, facilitate the Company’s roadmap towards clinical trials in the U.S. and Europe. Commercially, the Company is expected to offer solutions to companies interested in quality exosomes and minimally invasive targeted delivery systems for other indications. NurExone has established Exo-Top, a U.S. subsidiary, to anchor its North American activity and growth strategy.

For additional information and a brief interview, please watch Who is NurExone?, visit www.nurexone.com or follow NurExone on LinkedIn, Twitter, Facebook, or YouTube.

For more information, please contact:

Dr. Lior Shaltiel
Chief Executive Officer and Director
Phone: +972-52-4803034
Email: info@nurexone.com

Russo Partners LLC
Investor and Media Relations – United States
215 Park Ave S, Suite 1905
New York, NY 10003
Phone: 212-845-4200
Email: nurexone@russopartnersllc.com

Dr. Eva Reuter
Investor Relations - Germany
Phone: +49-69-1532-5857
Email: e.reuter@dr-reuter.eu

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements are often, but not always, identified by words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential” and similar expressions.

Forward-looking statements in this press release include, without limitation, statements relating to: the Company’s CMC and regulatory readiness and potential progression toward an investigational new drug application and clinical trials; the expected benefits and possible next steps arising from the proteomic batch-consistency results announced on February 10, 2026; the expected strategic, manufacturing, development and commercialization benefits of the sublicense agreement with Exo-Top Inc.; the negotiation, timing, potential completion and potential benefits of any definitive agreement or transaction arising from the non-binding LOI with BioXtek Inc.; the expected benefits of the Company’s patent portfolio, including the Australia patent grant and the Korean Notice of Patent Grant, and the Company’s ability to obtain, maintain and expand intellectual property protection in multiple jurisdictions; the Company’s commercialization strategy and platform opportunities; and the Company’s ability to maintain financial flexibility while advancing clinical, regulatory and operational milestones.

Forward-looking statements are based on management’s current expectations and assumptions as of the date of this press release, including assumptions regarding: the continued availability of capital, personnel and third-party service providers on commercially reasonable terms; that preclinical and analytical data will continue to support advancement of the Company’s development programs; that regulatory interactions and required approvals will occur on expected timelines; that technology transfer, manufacturing scale-up and operational activities in North America will proceed as contemplated; that any required patent grant formalities, fees and maintenance steps will be completed; that the Company will be able to negotiate and execute a definitive agreement with BioXtek Inc. on acceptable terms, if at all; and that the Company will continue to be able to allocate resources in a disciplined manner consistent with its stated priorities.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements, including, without limitation: early-stage development risk; the risk that preclinical and analytical results may not be predictive of clinical outcomes; regulatory review timing and outcomes; manufacturing scale-up and CMC risks; financing and market conditions; dependence on third-party collaborators, suppliers and counterparties; intellectual property risks, including maintenance, enforcement and potential challenges to patent rights; the risk that a definitive agreement with BioXtek Inc. may not be reached and that no transaction contemplated by the LOI will be completed; and the risks discussed under the heading “Risk Factors” on pages 44 to 51 of the Company’s Annual Information Form dated August 27, 2024, a copy of which is available under the Company’s SEDAR+ profile at www.sedarplus.ca. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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