NurExone Announces First Quarter 2026 Financial Results and Provides Corporate Update

TORONTO, Ontario and HAIFA, Israel, (ZEEST MEDIA) — 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