Market Signal Briefing

President Donald Trump said he was ordering a blockade of sanctioned oil tankers going into and leaving Venezuela, ratcheting up pressure on Caracas amid a US military buildup in the region and the threat of land strikes. Bloomberg's Stephen Stapczynski reports.

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.

CASCAIS, PT / ACCESS Newswire / December 17, 2025 / Pulsar Helium Inc. (AIM:PLSR)(TSXV:PLSR)(OTCQB:PSRHF) ("Pulsar" or the "Company"), a primary helium exploration and development company, announces that on December 16, 2025, the Board of Directors (the "Board") awarded security based compensation awards designed to provide the key members of the Pulsar team with a substantial incentive to participate in the future success of the Company.

The Board awarded:

a total of 2,000,000 stock options were granted to an officer and consultant of the Company. The stock options are granted pursuant to the Company's Stock Option Plan and grant the optionee the right to purchase one common share (a "Share") at a purchase price of CAD$0.69 per Share for a period of five years from the date of grant. The stock options vest immediately.

a total of 1,200,000 performance share units ("PSUs") were awarded to an officer and consultant of the Company, under the Company's Equity Incentive Plan. The PSUs vest as to one-third each on the first, second and third anniversaries of the award date.

On behalf Pulsar Helium Inc.

"Thomas Abraham-James"
President, CEO and Director

Further Information:

Pulsar Helium Inc.
[email protected]
+ 1 (218) 203-5301 (USA/Canada)
+44 (0) 2033 55 9889 (United Kingdom)
https://pulsarhelium.com
https://ca.linkedin.com/company/pulsar-helium-inc.

Strand Hanson Limited
(Nominated & Financial Adviser, and Broker)
Ritchie Balmer / Rob Patrick / Richard Johnson
+44 (0) 207 409 3494

Yellow Jersey PR Limited
(Financial PR)
Charles Goodwin / Annabelle Wills
+44 777 5194 357
[email protected]

About Pulsar Helium Inc.

Pulsar Helium Inc. is a publicly traded company quoted on the AIM market of the London Stock Exchange and listed on the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each.

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

SOURCE: Pulsar Helium Inc.

December 17, 2025 02:01 ET

 | Source:

Diversified Energy PLC

DIVERSIFIED ENERGY COMPANY

("Diversified", or the "Company")

DIVERSIFIED ENERGY COMPANY (NYSE:DEC; LSE:DEC) announces that, in accordance with the terms of its share buyback program announced on March 20, 2025, the Company has purchased 158,447 shares of common stock, par value $0.01 per share of the Company (the "Shares") in the market at a volume-weighted average price of $13.7436 per Share through Mizuho Securities USA LLC (MSUSA). The Shares acquired will, in due course, be cancelled.

Aggregated Information

Date of Purchase:December 16, 2025Aggregate Number of Shares Purchased:158,447Lowest Price Paid per Share (USD):13.595Highest Price Paid per Share (USD):13.94Volume-Weighted Average Price Paid per Share (USD):13.7436   Following the cancellation of Shares, Diversified will have 80,164,402 shares of common stock in issue and no shares of common stock held in treasury. This figure of 80,164,402 shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), (as in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019), the table below contains detailed information of the individual trades made by Mizuho Securities USA LLC as part of the buyback program.

Schedule of Purchases

Shares purchased:DIVERSIFIED ENERGY COMPANY (ISIN: US25520W1071)   Dates of purchases:16 December 2025   Investment firm:Mizuho Securities USA LLC        Aggregate number of ordinary shares acquiredDaily volume weighted average price paidDaily highest price paid per shareDaily lowest price per shareTrading Venue4,942$13.7298$13.85$13.62ARCX608$13.7138$13.79$13.62ASPN500$13.7342$13.78$13.67BAML983$13.7406$13.85$13.60BATS981$13.7563$13.90$13.66BATY256$13.7150$13.82$13.67EDGA1,574$13.7505$13.85$13.61EDGX116,239$13.7428$13.94$13.60IEXG1,853$13.7086$13.79$13.63JPMX3,733$13.7180$13.81$13.66JSJX3,000$13.7850$13.79$13.78LEVL139$13.6780$13.71$13.62SGMT7,068$13.7471$13.90$13.62UBSA500$13.7338$13.92$13.69XBOS299$13.7875$13.82$13.73XCIS8,593$13.7516$13.92$13.61XNAS7,179$13.7279$13.90$13.60XNYSTrading venueCurrency   NYSEUSD$13.7436158,447 
For further information, please contact:

Diversified Energy Company+1 973 856 2757Doug [email protected] Vice President, Investor Relations & Corporate Communicationswww.div.energy   About Diversified Energy Company

Diversified is a leading publicly traded energy company focused on acquiring, operating, and optimizing cash generating energy assets. Through our differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

Accenture plc (NYSE:ACN) will release earnings results for its first quarter before the opening bell on Thursday, Dec. 18.

Analysts expect the Dublin, Ireland-based company to report quarterly earnings at $3.72 per share, up from $3.59 per share in the year-ago period. The consensus estimate for Accenture's quarterly revenue is $18.53 million. Last year, it reported $17.69 million in revenue, according to Benzinga Pro.

On Tuesday, Accenture agreed to acquire a majority stake in US-based AI data center engineering and consulting firm DLB Associates and its affiliated companies.

Shares of Accenture fell 1% to close at $272.04 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

Morgan Stanley analyst James Faucette upgraded the stock from Equal-Weight to Overweight and raised the price target from $271 to $320 on Dec. 16, 2025. This analyst has an accuracy rate of 63%.
Citigroup analyst Bryan Keane initiated coverage on the stock with a Neutral rating and a price target of $266 on Oct. 22, 2025. This analyst has an accuracy rate of 69%.
Mizuho analyst Dan Dolev maintained an Outperform rating and cut the price target from $348 to $309 on Sept. 29, 2025. This analyst has an accuracy rate of 67%.
BMO Capital analyst Keith Bachman maintained a Market Perform rating and cut the price target from $325 to $270 on Sept. 26, 2025. This analyst has an accuracy rate of 77%.
Baird analyst David Koning maintained an Outperform rating and lowered the price target from $350 to $330 on Sept. 26, 2025. This analyst has an accuracy rate of 71%
Considering buying ACN stock? Here’s what analysts think:

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© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

THIS PRESS RELEASE MAY NOT BE DISTRIBUTED, RELEASED, OR PUBLISHED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, BELARUS, CANADA, HONG KONG, JAPAN, NEW ZEALAND, RUSSIA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, THE UNITED STATES OF AMERICA OR ANY OTHER JURISDICTION IN WHICH SUCH ACTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL OR DEMAND ADDITIONAL REGISTRATION OR OTHER MEASURES. PLEASE REFER TO “IMPORTANT INFORMATION” IN THE END OF THIS PRESS RELEASE.

REYKJAVIK, ICELAND (December 17, 2025) — Alvotech (NASDAQ: ALVO, the “Company”), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announces the successful placing of USD 108 million senior unsecured convertible bonds due 2030 (the “Offering”). The Offering, which was significantly oversubscribed, is undertaken to continue Alvotech’s investment in R&D, expected to be around USD 250 million in 2026. Alvotech is focused on continuous execution and progression of its R&D pipeline, currently consisting of 30 products under development and one of the most valuable portfolios of biosimilar candidates in the industry. At the same time, Alvotech is scaling up its production capacity and the company’s supply chain to support 4 new global product launches through 2026.

The successful completion of the convertible bond placement will allow Alvotech to continue its journey and maintain its leading investment position in biosimilar development, while concurrently supporting manufacturing and global product launches.

“We appreciate the strong support and significant demand from international investors for this bond offering,” said Robert Wessman, Chairman and CEO of Alvotech. “Their confidence reflects the resilience of our business model, the value of our integrated manufacturing platform and the global opportunities ahead. This financing ensures we remain well positioned to advance our pipeline, support global launches and continue bringing important biologic treatments to patients worldwide.”

Details of the Convertible Bonds placement:

USD 108 million senior unsecured convertible bonds due December 22, 2030 (the “Convertible Bonds”), with net proceeds being to continue to invest in R&D pipeline, scale and product launches. Notwithstanding the significantly oversubscribed order book for the Convertible Bonds, the issue size was determined following an assessment based on the composition of demand, market capacity considerations and the Company’s objective of ensuring a stable and well-balanced investor base.The Convertible Bonds carry a coupon of 6.875%, payable semi-annually in arrear, issued at par in denominations of USD 200,000.The conversion premium is set to 25% over USD 4.7379 per share, and the initial conversion price is thus fixed at USD 5.9224 per share.The Convertible Bonds are convertible from the 41st day of their issuance into Swedish Depositary Receipts (“Shares” or “SDRs”).The Company may call the Convertible Bonds at any time on or after 3 years and 21 calendar day after the settlement date, if the volume weighted average trading price (VWAP) of the Share is at least 150% of the conversion price on at least 20 out of 30 consecutive trading days.The Convertible Bonds include customary adjustments and anti-dilution provisions for convertible bonds. The Convertible Bonds also include a conversion price reset mechanism designed to maintain fair conversion conditions for Convertible Bond investors in the event of an equity or equity-linked capital raise during the first 24 months after settlement. The board of directors of a wholly owned subsidiary of the Company, Alvotech Manco ehf ("Manco"), has resolved to provide a stock lending facility for the duration of the Convertible Bonds (unless bought back, redeemed or converted, in which case it will be reduced on a pro rata basis) for the purpose of facilitating Convertible Bond investors' hedging activities. The full number of shares underlying the Convertible Bonds will be made available through a stock lending facility. The stock lending facility will remain in place for the duration of the Convertible Bonds.Concurrently with the placement of the Convertible Bonds, the Sole Bookrunner in the Offering completed a placement of existing Shares (the “Concurrent Delta Placement”) on behalf of the Convertible Bonds investors hedging their market exposure. The number of Shares sold was determined by the allocation of the Convertible Bonds and amounted to approximately USD 56 million. The Share price in the Concurrent Delta Placement was set to USD 4.7379 using a Bloomberg BFIX exchange rate of USD/SEK of 9.2984, based on a SEK 48.95 closing price for the Shares trading on Nasdaq Stockholm 16 December 2025, with a discount of 10%. It is the board of directors' assessment that the price in the Concurrent Delta Placement is on market terms, reflecting prevailing market conditions and investor demand.The Offering and the Concurrent Delta Placement were conducted solely on a private placement basis to professional investors pursuant to Regulation S promulgated under the Securities Act of 1933, as amended or other applicable exemption from registration and to Swedish and international institutional, and other qualified investors within the meaning of the Prospectus Regulation (as defined below).The Company has entered into lock-up undertakings, subject to certain conditions, customary, and exceptions from the Sole Bookrunner and exceptions relating to any issuance of shares to Manco for servicing existing obligations of the Company, including issuing additional shares in respect of the stock lending facility, and not to issue (a) new shares for a period of three months following the settlement of the Convertible Bonds; and (b) equity-linked securities (including any securities convertible, exchangeable for shares, or any bonds or warrant structures) for a period of twelve months from the settlement of the Convertible Bonds. Indicative timeline of the transaction

16 December 2025:Launch of the Offering and Concurrent Delta Placement Pricing and Allocation of the Convertible Bonds and Concurrent Delta Placement17 December 2025Trade Date (T)19 December 2025:(T+2) Settlement of the Concurrent Delta Placement22 December 2025:(T+3) Settlement of the Convertible Bonds Advisors

DNB Carnegie, a part of DNB Bank ASA (“DNB Carnegie”) acted as Sole Bookrunner in connection with the Offering. Roschier acted as legal advisors to the Company as to Swedish law, Arendt & Medernach SA acted as legal advisor to the Company as to Luxembourg law, BBA//Fjeldco acted as legal advisor to the Company as to Icelandic law and Cooley LLP acted as legal advisor to the Company as to U.S. law. Advokatfirmaet Thommessen AS acted as legal advisor to the Sole Bookrunner as to Norwegian law.

For further information, please contact:

ALVOTECH INVESTOR RELATIONS
Patrik Ling, VP Investor Relations Scandinavia (SE)
Benedikt Stefansson, VP Investor Relations and Global Communications (IS)
[email protected]

ALVOTECH MEDIA RELATIONS
Sarah Macleod, Head Global Communications
Benedikt Stefansson, VP Investor Relations and Global Communications
[email protected]

This constitutes information that Alvotech is legally obliged to publish under the EU’s Market Abuse Regulation. The information was released for publication, through the agency of the contact person above, at the date and time indicated by the dateline of publication.

About Alvotech

Alvotech is a biotech company, founded by Robert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in the biosimilar space by delivering high-quality, cost-effective products and services, enabled by a fully integrated approach and broad in-house capabilities. Five biosimilars, to Humira® (adalimumab), Stelara® (ustekinumab), Simponi® (golimumab), Eylea® (aflibercept) and Prolia®/Xgeva® (denosumab) are already approved. The current development pipeline includes disclosed biosimilar candidates aimed at treating autoimmune disorders, eye disorders, respiratory disease, and cancer. Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the United States, Europe, Japan, China, and other Asian countries and large parts of South America, Africa and the Middle East. For more information, please visit https://www.alvotech.com. None of the information on the Alvotech website shall be deemed part of this press release.

Non-IFRS Financial Measures
Adjusted EBITDA is a non-IFRS measure which is defined in our latest Annual Report on Form 20-F filed with the SEC. Management uses and presents IFRS results as well as the non-IFRS measure of Adjusted EBITDA to evaluate and communicate its performance. While non-IFRS measures should not be construed as alternatives to IFRS measures, management believes non-IFRS measures are useful to further understand Alvotech’s current performance, performance trends, and financial condition. Alvotech has presented its expectations regarding adjusted EBITDA without presenting the most directly comparable IFRS measure or a corresponding quantitative reconciliation, as such information is not available to Alvotech without unreasonable efforts at the time of the release of this preliminary financial information. Alvotech is not able to estimate net (loss) income on a forward-looking basis without unreasonable efforts due to the variability and complexity with respect to the charges excluded from adjusted EBITDA.

Important information

The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions by law. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release is for information purposes only and does not constitute an offer to sell or an offer, or the solicitation of an offer, to acquire or subscribe for SDRs, shares or other securities issued by the Company, neither by the Company or anyone else, in any jurisdiction where such offer or invitation would be illegal prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction.

This press release is not a prospectus for the purposes of Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. The Company has not authorised any offer to the public of SDRs, shares or other securities in any member state of the EEA and no prospectus has been or will be prepared in connection with the Offering and placement. In any EEA Member State, this communication is only addressed to and is only directed at “qualified investors” in that Member State within the meaning of the Prospectus Regulation.

This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The Convertible Bonds, the SDRs into which the Convertible Bonds could be exercised, the ordinary shares underlying the SDRs and other ordinary shares referred to herein may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), or under the securities laws of any state or other jurisdiction of the United States. There is no intention to register any securities referred to herein in the United States or to make an offering of the securities in the United States.

The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Switzerland, Singapore, South Africa, South Korea, the United States of America or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.

In the United Kingdom, this press release and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, “qualified investors” (within the meaning of Article 86(7) of the British Financial Services and Market Act 2000) who are (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.

This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the SDRs, shares or other securities issued by the Company. Any investment decision to acquire or subscribe for securities in connection with the Offering and placement must be made on the basis of all publicly available information relating to the Company and the Company’s securities. Such information has not been independently verified by the Sole Bookrunner. The Sole Bookrunner is acting for the Company and no one else in connection with the Offering and the placement and is not responsible to anyone other than the Company for providing the protections afforded to its clients nor for giving advice in relation to the Offering and the placement or any other matter referred to herein.

This press release does not constitute a recommendation for any investors’ decisions regarding the Offering and the placement. Each investor or potential investor should conduct a self-examination, analysis and evaluation of the business and information described in this press release and any publicly available information. The price and value of the securities can decrease as well as increase. Achieved results do not provide guidance for future results. Neither the contents of the Company’s website nor any other website accessible through hyperlinks on the Company’s website are incorporated into or form part of this press release.

Failure to follow these instructions may result in a breach of the Securities Act or applicable laws in other jurisdictions.

Alvotech forward-looking statements

Certain statements in this communication may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include, for example, Alvotech’s intentions, assessments, or expectations regarding competitive advantages, business prospects and opportunities including pipeline product development, future plans and intentions, regulatory submissions, review and interactions, the expectations with respect to resolving CRL issues, the potential approval and commercial launch of its product candidates, the timing of regulatory approval, market launches, financial projections and the markets in which Alvotech operates, including financial guidance and projections for 2025 and 2026, the ability to successfully execute and close the Offering and the expected use of proceeds from the Offering. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "intend", "may", "plan", "estimate", "will", "should", "could", "aim", or "might", or, in each case, their negative, or similar expressions. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Alvotech and its management, are inherently uncertain and are inherently subject to risks, variability, and contingencies, many of which are beyond Alvotech’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to factors set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in documents that Alvotech may from time-to-time file or furnish with the SEC. There may be additional risks that Alvotech does not presently know or that Alvotech currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as, a guarantee, assurance, prediction or definitive statement of a fact or probability. Alvotech does not guarantee that the assumptions underlying the forward-looking statements in this press release are free from errors. The information, opinions and forward-looking statements that are expressly or implicitly contained herein speak only as of its date and are subject to change. Neither Alvotech nor anyone else undertake any duty to review, update, confirm or to release publicly any revisions to these forward-looking statements or to inform the recipient of any matters of which any of them becomes aware of which may affect any matter referred to in this communication, unless this is required under law or Nasdaq Stockholm's rulebook for issuers. Alvotech disclaims any and all liability for any loss or damage (whether foreseeable or not) suffered or incurred by any person or entity as a result of anything contained or omitted from this communication and such liability is expressly disclaimed.

Information to distributors

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended (“MiFID II”); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the “MiFID II Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the Company’s shares, SDRs and other securities have been subject to a product approval process, which has determined that such shares, SDRs and other securities are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II (the “Positive Target Market”); and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II.

Distributors should note that: the price of the shares, SDRs and other securities in the Company may decline and investors could lose all or part of their investment; the shares, SDRs and other securities in the Company offer no guaranteed income and no capital protection; and an investment in the shares, SDRs and other securities in the Company is suitable only for investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. Conversely, an investment in the shares, SDRS or other securities of the Company is not suitable for investors who need full capital protection or full repayment of the amount invested, cannot bear any risk, or who require guaranteed or predictable return (the “Negative Target Market”, and together with the Positive Target Market, the “Target Market Assessment”).

The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Offering and the placement.

For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares, SDRs and other securities in the Company.

Each distributor is responsible for undertaking its own Target Market Assessment in respect of the shares, SDRs and other securities in the Company and determining appropriate distribution channels.

Transition from An Asset-Heavy Business Model to An Asset-Light Business Model
Achieved Quarterly Non-GAAP Net Profitability
Maintained Non-GAAP Operational Profitability for Three Consecutive Quarters
Achieved Quarterly Positive Operating Cash Flow

, /PRNewswire/ -- 111, Inc. ("111" or the "Company") (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China, today announced its unaudited financial results for the third quarter ended September 30, 2025.

Third Quarter 2025 Highlights

Total operating expenses were RMB180.3 million (US$25.3 million), representing a decrease of 13.4% compared to RMB208.2 million in the same quarter of last year.
Non-GAAP income from operations (1) was RMB0.2 million (US$0.03 million), compared to RMB7.1 million in the same quarter of last year. As a percentage of net revenues, non-GAAP income from operations accounted for 0.01% this quarter as compared to 0.2% in the same quarter of last year.
Non-GAAP net income (2) was RMB1.1 million (US$0.2 million), compared to RMB1.3 million in the same quarter of last year. As a percentage of net revenues, non-GAAP net income accounted for 0.04% this quarter, consistent with the same quarter last year.
Net cash from operating activities was RMB38.1 million (US$5.4 million). The Company also generated positive operating cash flow of RMB89.3 million (US$12.5 million) on a year-to-date basis.

(1) Non-GAAP income from operations represents income from operations excluding share-based compensation expenses.
(2) Non-GAAP net income represents net income excluding share-based compensation expenses, net of tax. Considering the impact of accretion of redeemable non-controlling interest for the third quarter 2025, non-GAAP net income is used as a meaningful measurement of the operation performance of the Company.

Mr. Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111, commented, "In the third quarter of 2025, we once again demonstrated resilience despite a challenging macroeconomic landscape. I am pleased to report that we have achieved non-GAAP operational profitability for the third consecutive quarter and generated positive operating cash flow both in the quarter and on a year-to-date basis."

"We are decisively executing a strategic shift towards an asset-light business model. During and subsequent to the quarter, we completed the divestiture of three self-operated subsidiaries. Crucially, this represents a change in ownership structure, not a reduction in service capability. These facilities have now joined our ecosystem as fulfillment partners and will be dedicated to service our customers exclusively. While this structural optimization may create a temporary headwind for our top-line revenue, it meaningfully strengthens our liquidity and profitability. It allows us to maintain a robust logistics network without the associated capital burden, accelerating our transition from an asset-heavy model to a high-margin, technology-enabled service model."

"Our strategic initiatives are delivering strong results. We have made substantial progress in enhancing our supply chain capabilities through the ongoing "MANTIANXING" initiative. The nationwide network of fulfillment centers continues to grow. As of the end of the quarter, the initiative has generated inventory value of RMB498 million, driving growth of 20.5% in GMV and 31.0% in customer count compared to Q2. In optimizing our supply chain, we have systematically enhanced overall competitiveness through initiatives such as traceability code scanning, relay picking by warehouse personnel, and optimal carrier matching. These measures have significantly improved operational efficiency, reduced total fulfillment costs, and provided a solid, reliable foundation for our business growth."

"Looking ahead, our vision is to build the industry's AI-powered transaction platform for pharmaceutical procurement. We are actively leveraging AI capabilities to create a unified, intelligent platform that optimizes decision-making for pharmacies and maximizes reach for suppliers. By aggregating industry information and streamlining transactions on a single interface, we are committed to providing a superior customer experience which will unlock long-term value for our shareholders."

Third Quarter 2025 Financial Results

Net revenues were RMB3.0 billion (US$421.5 million), representing a decrease of 16.7% from RMB3.6 billion in the same quarter of last year.

Gross segment profit (3) was RMB178.0 million (US$25.0 million), representing a decrease of 15.5% from RMB210.6 million in the same quarter of last year.

(In thousands RMB)

For the three months ended

September 30,

2024

2025

YoY

B2B Net Revenue

Product

3,514,298

2,925,641

-16.8 %

Service

21,731

14,245

-34.4 %

Sub-Total

3,536,029

2,939,886

-16.9 %

Cost of Products Sold (4)

3,340,998

2,773,020

-17.0 %

Segment Profit

195,031

166,866

-14.4 %

Segment Profit %

5.5 %

5.7 %

(In thousands RMB)

For the three months ended

September 30,

2024

2025

YoY

B2C Net Revenue

Product

61,031

58,294

-4.5 %

Service

3,615

2,640

-27.0 %

Sub-Total

64,646

60,934

-5.7 %

Cost of Products Sold

49,061

49,765

1.4 %

Segment Profit

15,585

11,169

-28.3 %

Segment Profit %

24.1 %

18.3 %

(3) Gross segment profit represents net revenues less cost of goods sold.
(4) For segment reporting purposes, purchase rebates are allocated to the B2B segment and B2C segments primarily based on the amount of cost of products sold for each segment. Cost of products sold does not include other direct costs related to cost of product sales such as shipping and handling expense, payroll and benefits of logistic staff, logistic centers rental expenses and depreciation expenses, which are recorded in the fulfillment expenses. Cost of service revenue is recorded in the operating expense.

Operating costs and expenses were RMB3.0 billion (US$421.8 million), representing a decrease of 16.5% from RMB3.6 billion in the same quarter of last year, broadly in line with the decline in net revenues.

Cost of products sold was RMB2.8 billion (US$396.5 million), representing a decrease of 16.7% from RMB3.4 billion in the same quarter of last year.
Fulfillment expenses were RMB87.4 million (US$12.3 million), representing a decrease of 12.6% from RMB100.0 million in the same quarter of last year. Fulfillment expenses accounted for 2.9% of net revenues this quarter as compared to 2.8% in the same quarter of last year.
Selling and marketing expenses were RMB61.8 million (US$8.7 million), representing a decrease of 19.7% from RMB77.0 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB0.8 million for the quarter and RMB1.6 million for the same quarter last year, selling and marketing expenses accounted for 2.0% of net revenues this quarter as compared to 2.1% in the same quarter of last year.
General and administrative expenses were RMB15.7 million (US$2.2 million), representing an increase of 9.2% from RMB14.4 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB1.5 million for the quarter and RMB2.3 million for the same quarter last year, respectively, general and administrative expenses as a percentage of net revenues accounted for 0.5% this quarter as compared to 0.3% in the same quarter of last year.
Technology expenses were RMB15.3 million (US$2.1 million), representing a decrease of 12.8% from RMB17.5 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB0.2 million for the quarter and RMB0.9 million for the same quarter last year, respectively, technology expenses as a percentage of net revenues accounted for 0.5% this quarter, maintaining the same as last year.

Loss from operations was RMB2.3 million (US$0.3 million), compared to income from operations of RMB2.4 million in the same quarter of last year.

Non-GAAP income from operations was RMB0.2 million (US$0.03 million), compared to RMB7.1 million in the same quarter of last year. As a percentage of net revenues, non-GAAP income from operations accounted for 0.01% this quarter as compared to 0.2% in the same quarter of last year.

Net loss was RMB1.5 million (US$0.2 million), representing an improvement of 58.0% from RMB3.5 million in the same quarter of last year.

Non-GAAP net income was RMB1.1 million (US$0.2 million), compared to RMB1.3 million in the same quarter of last year. As a percentage of net revenues, non-GAAP net income accounted for 0.04% this quarter, consistent with the same quarter last year.

Net loss attributable to ordinary shareholders was RMB13.0 million (US$1.8 million), compared to RMB17.1 million in the same quarter of last year. As a percentage of net revenues, net loss attributable to ordinary shareholders accounted for 0.4% this quarter as compared to 0.5% in the same quarter of last year.

Non-GAAP net loss attributable to ordinary shareholders (5) was RMB10.5 million (US$1.5 million), compared to RMB12.4 million in the same quarter of last year. As a percentage of net revenues, non-GAAP net loss attributable to ordinary shareholders accounted for 0.3% of net revenues this quarter, consistent with the same period last year.

(5) Non-GAAP net loss attributable to ordinary shareholders represents net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax.

As of September 30, 2025, the Company held cash and cash equivalents, restricted cash and short-term investments totaling RMB557.5 million (US$78.3 million), compared to RMB518.3 million as of December 31, 2024. To date, amount of RMB1.1 billion has been included in the balances of redeemable non-controlling interests and accrued expenses and other current liabilities. This amount is owed to a group of investors of 1 Pharmacy Technology pursuant to equity investments made in 2020, as previously disclosed. 111 has received redemption requests from certain of such investors in accordance with the terms of their initial investments in 1 Pharmacy Technology. Following communication and negotiation, the Company has reached agreements with, or received commitment letters from, all investors to reschedule the repayments, allowing for phased repayments at extended periods, if the investors exercise their redemption rights. A portion of the redemption has been paid upon signing of these agreements. For further details about such investors' investments in 1 Pharmacy Technology, please see "Item 4. Information on the Company-A. History and Development of the Company" in the Company's annual report for the fiscal year ended December 31, 2024.

Executing Strategic Optimization: Embraces Asset-Light Partnership Network Growth

In the third quarter of 2025 and subsequent to third quarter, the Company proactively executed a strategic structural optimization by divesting its 100% equity interests in three subsidiaries, namely Shanxi Yihao Yaofang Pharmacy Co., Ltd., Liaoning Yihao Pharmacy Co., Ltd. and Tianjin Yihao Pharmacy Co., Ltd. to several independent third-party buyers. In connection with the divestiture, these buyers continue to operate on our platform as warehouse partners, providing fulfillment services to our customers exclusively, as part of our core warehouse partnership strategy to drive asset-light, high-margin growth.

This transaction was as part of our broader strategic initiative to shift away from a capital-intensive, self-operated warehouse business model (which put pressure on our overall profitability and liquidity) toward an asset-light partnership structure. Historically, the three subsidiaries were operated as self-run facilities and incurred operating losses. In 2024, they generated a total revenue of RMB2.86 billion and a total net loss of RMB417 million and RMB407 million in net liabilities as of the divestment date. Through the divestiture of these entities and the transition of our business model to a warehouse partnership model—where we generate recurring commission income rather than assuming the operational and capital burdens—we have strengthened our ability to further improve our profitability and liquidity profile.

We believe that this transaction reinforces our focus on pursuing asset-light, profitable growth, strengthening our ability to scale the warehouse partnership network efficiently while maintaining a healthier financial structure.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses non-GAAP income from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS, as supplemental measures to review and assess its operating performance. The Company defines non-GAAP income from operations as income from operations excluding share-based compensation expenses. The Company defines non-GAAP net income (loss) as net loss excluding share-based compensation expenses, net of tax. The Company defines non-GAAP net loss attributable to ordinary shareholders as net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax. The Company defines non-GAAP loss per ADS as net loss attributable to ordinary shareholders per ADS excluding share-based compensation expenses, net of tax per ADS. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.

The Company believes that non-GAAP income from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in income from operations and net loss. Share-based compensation expenses is a non-cash expense that varies from period to period. As a result, management excludes the items from its internal operating forecasts and models. Management believes that the adjustments for share-based compensation expenses provide investors with a reasonable basis to measure the company's core operating performance, in a more meaningful comparison with the performance of other companies. The Company believes that non-GAAP income from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS provide useful information about its operating results, enhances the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP income from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, or non-GAAP loss per ADS is that it does not reflect all items of income and expense that affect the Company's operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP measures, all of which should be considered when evaluating the Company's performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

Reconciliation of the non-GAAP financial measures to the most comparable U.S. GAAP measures is included at the end of this press release.

Exchange Rate Information Statement

This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.1190 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 30, 2025.

Forward-Looking Statements

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as 111's strategic and operational plans, contain forward-looking statements. 111 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company's ability comply with extensive and evolving regulatory requirements, its ability to compete effectively in the evolving PRC general health and wellness market, its ability to manage the growth of its business and expansion plans, its ability to achieve or maintain profitability in the future, its ability to control the risks associated with its pharmaceutical retail and wholesale businesses, and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and 111 does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About 111, Inc.

111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China. The Company provides consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy, 1 Pharmacy, and indirectly through its offline virtual pharmacy network. The Company also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation, electronic prescription service, and patient management service. In addition, the Company's online platform, 1 Medicine, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to better serve their customers with cloud-based services. 111 also provides an omni-channel drug commercialization platform to its strategic partners, which includes services such as digital marketing, patient education, data analytics, and pricing monitoring.

For more information on 111, please visit: http://ir.111.com.cn/.

For more information, please contact:

111, Inc.
Investor Relations
Email: [email protected] 

111, Inc.
Media Relations
Email: [email protected]
Phone: +86-021-2053 6666 (China) 

111, Inc.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except for share and per share data)

As of

As of

December 31, 2024

September 30, 2025

RMB

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

462,289

463,615

65,124

Restricted cash

56,043

63,934

8,981

Short-term investments

-

30,000

4,214

Accounts receivable, net 

413,101

281,549

39,549

Notes receivable

78,827

76,786

10,786

Inventories

1,387,403

1,253,988

176,147

Prepayments and other current assets

251,994

218,534

30,697

Total current assets

2,649,657

2,388,406

335,498

Property and equipment, net

32,903

23,630

3,319

Intangible assets, net

1,437

1,022

144

Long-term investments

-

-

-

Other non-current assets

14,682

11,537

1,621

Operating lease right-of-use assets

89,071

57,788

8,117

Total assets

2,787,750

2,482,383

348,699

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' DEFICIT

Current liabilities:

Short-term borrowings

160,981

170,000

23,880

Accounts payable

1,721,425

1,550,309

217,771

Accrued expense and other current liabilities 

460,173

506,350

71,127

Total current liabilities

2,342,579

2,226,659

312,778

Long-term operating lease liabilities

55,448

34,730

4,878

Other non-current liabilities

8,961

2,181

306

Total liabilities

2,406,988

2,263,570

317,962

MEZZANINE EQUITY

Redeemable non-controlling interests

1,038,914

923,141

129,673

SHAREHOLDERS' DEFICIT

Ordinary shares Class A 

33

34

5

Ordinary shares Class B 

25

25

3

Treasury shares 

(5,887)

(5,887)

(827)

Additional paid-in capital

3,172,820

3,183,053

447,121

Accumulated deficit

(3,883,992)

(3,934,163)

(552,629)

Accumulated other comprehensive income

74,357

73,045

10,261

Total shareholders' deficit

(642,644)

(683,893)

(96,066)

Non-controlling interest

(15,508)

(20,435)

(2,870)

Total deficit

(658,152)

(704,328)

(98,936)

Total liabilities, mezzanine equity and deficit

2,787,750

2,482,383

348,699

111, Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

 (In thousands, except for share and per share data)

For the three months ended September 30,

For the nine months ended September 30,

2024

2025

2024

2025

RMB

RMB

US$

RMB

RMB

US$

Net revenues

3,600,675

3,000,820

421,523

10,553,474

9,735,859

1,367,588

Operating costs and expenses:

 Cost of products sold

(3,390,059)

(2,822,785)

(396,514)

(9,926,727)

(9,177,349)

(1,289,135)

 Fulfillment expenses

(99,977)

(87,396)

(12,276)

(276,559)

(271,164)

(38,090)

 Selling and marketing expenses

(76,954)

(61,827)

(8,685)

(237,724)

(195,897)

(27,517)

 General and administrative expenses

(14,367)

(15,685)

(2,203)

(50,747)

(51,428)

(7,224)

 Technology expenses

(17,549)

(15,294)

(2,148)

(54,225)

(45,622)

(6,408)

 Other operating income (expenses), net

602

(129)

(18)

1,941

3,545

498

Total Operating costs and expenses

(3,598,304)

(3,003,116)

(421,844)

(10,544,041)

(9,737,915)

(1,367,876)

Income (Loss) from operations

2,371

(2,296)

(321)

9,433

(2,056)

(288)

 Interest income

1,533

682

96

5,574

2,953

415

 Interest expense

(7,810)

(7,053)

(991)

(23,067)

(24,243)

(3,405)

 Foreign exchange gain (loss)

642

181

25

40

290

41

 Other (loss) income, net

(193)

7,032

988

(116)

7,043

989

Loss before income taxes

(3,457)

(1,454)

(203)

(8,136)

(16,013)

(2,248)

 Income tax expense

(5)

-

-

(93)

(13)

(2)

Net loss

(3,462)

(1,454)

(203)

(8,229)

(16,026)

(2,250)

Net loss (income) attributable to non-controlling interest

848

2,192

308

(431)

3,885

546

Net loss (income) attributable to redeemable non-controlling interest

438

(100)

(14)

1,168

790

111

Adjustment attributable to redeemable non-controlling interest

(14,931)

(13,611)

(1,912)

(37,410)

(38,820)

(5,453)

Net loss attributable to ordinary shareholders

(17,107)

(12,973)

(1,821)

(44,902)

(50,171)

(7,046)

Other comprehensive loss

 Unrealized gains of available-for-sale securities,

(407)

-

-

(753)

-

-

 Realized gains of available-for-sale debt securities

407

-

-

896

-

-

 Foreign currency translation adjustments

(1,184)

(377)

(53)

(55)

(1,312)

(184)

Comprehensive loss

(18,291)

(13,350)

(1,874)

(44,814)

(51,483)

(7,230)

Loss per ADS:

 Basic and diluted

(2.00)

(1.40)

(0.20)

(5.20)

(5.80)

(0.80)

Weighted average number of shares used in computation of loss per share

 Basic and diluted

171,938,537

174,218,134

174,218,134

171,526,062

173,639,805

173,639,805

111, Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

For the three months ended

September 30,

For the nine months ended

September 30,

2024

2025

2024

2025

RMB

RMB

US$

RMB

RMB

US$

Net cash provided by operating activities

109,865

38,082

5,351

311,563

89,271

12,538

Net cash provided by (used in) investing activities

49,845

(29,974)

(4,211)

(141)

(31,285)

(4,394)

Net cash (used in) provided by financing activities

(110,510)

6,553

920

(370,453)

(47,755)

(6,707)

Effect of exchange rate changes on cash and cash equivalents, and

restricted cash

(313)

(210)

(29)

(106)

(1,014)

(142)

Net increase (decrease) in cash and cash equivalents, and restricted cash

48,887

14,451

2,031

(59,137)

9,217

1,295

Cash and cash equivalents, and restricted cash at the beginning of the

period

515,524

513,098

72,074

623,548

518,332

72,810

Cash and cash equivalents, and restricted cash at the end of the period

564,411

527,549

74,105

564,411

527,549

74,105

 111, Inc.

Unaudited Reconciliation of GAAP and Non-GAAP Results

 (In thousands, except for share and per share data)

For the three months ended

September 30,

For the nine months ended

September 30,

2024

2025

2024

2025

RMB

RMB

US$

RMB

RMB

US$

Income (Loss) from operations

2,371

(2,296)

(321)

9,433

(2,056)

(288)

Add: Share-based compensation expenses

4,756

2,521

354

15,122

9,503

1,335

Non-GAAP income from operations

7,127

225

33

24,555

7,447

1,047

Net loss

(3,462)

(1,454)

(203)

(8,229)

(16,026)

(2,250)

Add: Share-based compensation expenses, net of tax

4,756

2,521

354

15,122

9,503

1,335

Non-GAAP net income (loss)

1,294

1,067

151

6,893

(6,523)

(915)

Net loss attributable to ordinary shareholders

(17,107)

(12,973)

(1,821)

(44,902)

(50,171)

(7,046)

Add: Share-based compensation expenses, net of tax

4,756

2,521

354

15,122

9,503

1,335

Non-GAAP net loss attributable to ordinary shareholders

(12,351)

(10,452)

(1,467)

(29,780)

(40,668)

(5,711)

Loss per ADS(6): Basic and diluted

(2.00)

(1.40)

(0.20)

(5.20)

(5.80)

(0.80)

Add: Share-based compensation expenses per ADS(6), net of tax

0.60

0.20

0.00

1.80

1.00

0.20

Non-GAAP loss per ADS(6)

(1.40)

(1.20)

(0.20)

(3.40)

(4.80)

(0.60)

(6) Every one ADS represents twenty Class A ordinary shares.

SOURCE 111, Inc.

, /PRNewswire/ -- AIxCrypto Inc. (NASDAQ: AIXC, "AIxC" or "the Company") today announced the appointment of Andrew Grossman as Head of Legal. In this role, Andrew will direct the Company's legal, compliance, and governance functions, managing key areas including SEC disclosures, fund and investment compliance, digital asset and Web3 protocol architecture, and major strategic and commercial agreements.

Andrew brings extensive experience in securities regulation, digital asset ecosystem architecture, strategic corporate structuring, IP strategy, and governance for high-growth and public companies. Within a robust compliance framework, he will enable AIxC to protect and unlock long-term commercial value while ensuring responsible and sustainable business operations.

"AIxC is strategically positioned at the convergence of Web3 and AI," said Andrew. "I look forward to architecting the legal and governance frameworks that will allow us to bridge these ecosystems, ensuring we unlock sustainable commercial value while setting the standard for responsible innovation."

As a Nasdaq-listed company committed to rigorous compliance and an innovative platform operating at the convergence of Web2 and Web3, as well as artificial intelligence and crypto, Andrew's appointment further strengthens AIxC's compliance and governance capabilities. His leadership will also enable AIxC to leverage and extend the compliance foundations established in partnership with Faraday Future Intelligent Electric, Inc. (Nasdaq: FFAI), supporting comprehensive and sustainable regulatory alignment over the long term.

The Company recently renamed itself from Qualigen Therapeutics, Inc. to AIxCrypto Holdings, Inc. (Nasdaq: AIXC) as part of its strategic rebranding. AIxC is building blockchain as a foundational technology with artificial intelligence as its core driving force and is committed to creating a globally leading ecosystem integrating AI, crypto, and blockchain—connecting Web2 and Web3—and positioning itself as a gateway to the emerging AI Web3 world.

About AIxCrypto:
AIxCrypto is a U.S.-Nasdaq listed company dedicated to building a world-leading ecosystem that integrates AI and blockchain while bridging Web2 and Web3. Its core products include the BesTrade DeAI Agent and the AIxC ecosystem products. 

FORWARD LOOKING STATEMENTS:
This press release contains "forward-looking statements", including statements regarding AIxCrypto Holdings, Inc. ("AIxCrypto") within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All the statements in this press release, including financial projections, whether written or oral, that refer to expected or anticipated future actions and results of AIxCrypto are forward-looking statements. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements reflect our current projections and expectations about future events as of the date of this presentation. AIxCrypto cannot give any assurance that such forward-looking statements and financial projections will prove to be correct. 

The information provided in this press release does not identify or include any risk or exposures of AIxCrypto that would materially and adversely affect the performance or risk of the company. By their nature, forward-looking statements and financial projections involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking information will not occur, which may cause the Company's actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements and financial projections. Important factors that could cause actual results to differ materially from expectations include, but are not limited to: business, economic and capital market conditions; the heavily regulated industry in which AIxCrypto carries on business; current or future laws or regulations and new interpretations of existing laws or regulations; the inherent volatility and regulatory uncertainty associated with cryptocurrency investments; legal and regulatory requirements; market conditions and the demand and pricing for our products; the availability of reaching an agreement for the purchase of FFAI common shares; our relationships with our customers and business partners; our ability to successfully define, design and release new products in a timely manner that meet our customers' needs; our ability to attract, retain and motivate qualified personnel; competition in our industry; failure of counterparties to perform their contractual obligations; systems, networks, telecommunications or service disruptions or failures or cyber-attack; ability to obtain additional financing on reasonable terms or at all; litigation costs and outcomes; our ability to successfully maintain and enforce our intellectual property rights and defend third party claims of infringement of their intellectual property rights; and our ability to manage our growth. Readers are cautioned that this list of factors should not be construed as exhaustive. 

All information contained in this press release is provided as of the date of the press release issuance and is subject to change without notice. Neither AIxCrypto, nor any other person undertakes any obligation to update or revise publicly any of the forward-looking statements and financial projections set out herein, whether as a result of new information, future events or otherwise, except as required by law. This is presented as a source of information and not an investment recommendation. This press release does not take into account nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. AIxCrypto reserves the right to amend or replace the information contained herein, in part or entirely, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient thereof. 

Readers are advised not to place undue reliance on forward-looking statements, as there is no guarantee that the plans, intentions, or expectations they are based on will be realized. While management believes these statements are reasonable at the time of preparation, actual results may differ materially. These forward-looking statements reflect the Company's expectations as of the date of this presentation and are subject to change without notice. The Company is not obligated to update or revise these statements, unless required by law. 

Forward-looking statements are often identified by words such as "may," "could," "would," "might," or "will," indicating possible future actions, events, or outcomes. These statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ significantly from what is expected.  

Actual results may differ materially due to factors such as the ability to secure financing, complete transactions, meet exchange requirements, consumer demand, competition, and unexpected costs. These forward-looking statements are based on assumptions that may prove incorrect, and the Company does not assume any obligation to update them except as required by law. Given the uncertainties involved, readers should not place undue reliance on these statements. 

You are cautioned not to place undue reliance on these forward-looking statements, which are made only as of the date of this news release. The Company disclaims any intent or obligation to update these forward-looking statements beyond the date of this news release, except as required by law. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 

SOURCE AIxCrypto Inc.

Nyxoah Announces Commercial Launch of Genio® Breakthrough Therapy in the Netherlands
First Genio implants successfully performed at OLVG West and Zuyderland hospitals

Mont-Saint-Guibert, Belgium – December 17, 2025, 7:05am CET / 1:05am ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company that develops breakthrough treatment alternatives for Obstructive Sleep Apnea (OSA) through neuromodulation, today announced the commercial launch of its Genio® system in the Netherlands, marked by the first successful Genio implants performed at OLVG West in Amsterdam and Zuyderland Hospital in Heerlen.

Commenting on the introduction of Genio in Amsterdam, Dr. Peter van Maanen, ENT surgeon at OLVG West, stated: “Dr. Mayke Hentschel, our sleep department and I are pleased to offer our patients an additional treatment option for OSA when CPAP is not tolerated. With Genio, patients finally have a real choice. The system stimulates both branches of the nerve, has no internal battery, is full body 1.5 and 3T MRI-compatible, and can be easily upgraded via the external activation chip. These features make it a promising long-term solution for both patients and healthcare providers.”

At Zuyderland Hospital, Dr. Jos Straetmans, ENT surgeon in Heerlen and Sittard, added: “Introducing the Genio bilateral neurostimulation system expands our ability to tailor therapy to the needs of each individual patient. Its advantages: no implanted battery, and reliable performance in the supine position make it a valuable addition to our treatment arsenal. We are excited to bring this innovative, European developed technology to patients in our community.”

“The commercial launch of Genio in the Netherlands marks another important step in our European rollout and reflects growing adoption of our bilateral, externally powered Genio therapy,” commented Olivier Taelman, Nyxoah's Chief Executive Officer. “We are proud to partner with leading Dutch centers to bring Genio to patients seeking an effective and patient-centric alternative to CPAP. As we continue to expand our commercial footprint, these early implants further validate Genio’s role as a long-term solution for OSA.”

About Nyxoah

Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat OSA. Nyxoah’s lead solution is the Genio system, a patient-centric, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company announced positive outcomes from the DREAM IDE pivotal study and receipt of approval from the FDA for a subset of adult patients with moderate to severe OSA with an AHI of greater than or equal to 15 and less than or equal to 65.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. FDA approved in August 2025 as prescription-only device.

Forward-looking statements

Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the Genio system; the potential advantages of the Genio system; Nyxoah’s goals with respect to the potential use of the Genio system; the Company's commercialization strategy and entrance to the U.S. market; and the Company's results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. These risks and uncertainties include, but are not limited to, the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission (“SEC”) on March 20, 2025 and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward-looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward- looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contacts:

Nyxoah
John Landry, CFO
[email protected]

Rémi Renard
Chief Investor Relations & Corporate Communication Officer
[email protected]

ENGLISH_Nyxoah Announces Commercial Launch of Genio Breakthrough Therapy in the Netherlands

Eugene Hsiao from Macquarie says the reason why a number of Chinese chip start-ups had very successful IPOs lately is that they're seen as future national champions. Their products may not be as good as Nvidia's, but they are good enough to drive market excitement.

Toronto, Ontario--(Newsfile Corp. - December 17, 2025) - Aegis Critical Energy Defence Corp. (CSE: QESS) (OTCQB: QESSF) (FSE: JG6) ("Aegis" or the "Company") is pleased to announce the execution of a Non-Disclosure Agreement (NDA) with Critical Infrastructure Technologies Ltd. (CSE: CTTT) (OTCQB: CITLF) (FSE: X9V), a leading developer of autonomous, high-capacity mobile communications and security platforms.

NEW YORK and NEW ORLEANS, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with substantial losses that they have until February 9, 2026 to file lead plaintiff applications in a securities class action lawsuit against Integer Holdings Corporation (“Integer” or the “Company”) (NYSE: ITGR), if they purchased or otherwise acquired the Company’s shares between July 25, 2024 and October 22, 2025, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.

What You May Do

If you purchased shares of Integer and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-itgr/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by February 9, 2026.

About the Lawsuit

Integer and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On October 23, 2025, the Company disclosed a lower full-year 2025 sales guidance to a range between $1.840 billion and $1.854 billion, well short of analysts’ estimates, as well as expected net sales growth of -2% to 2% and organic sales growth of 0% and 4% for the full year of 2026, among other things, due to the market adoption of its products being slower than anticipated.

On this news, the price of Integer’s shares fell $35.22 per share, or more than 32%, from a closing price of $109.11 per share on October 22, 2025, to a closing price of $73.89 per share on October 23, 2025.

The case is West Palm Beach Firefighters’ Pension Fund v. Integer Holdings Corporation, et al., No. 25-cv-10251.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn

NEW YORK and NEW ORLEANS, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with substantial losses that they have until January 5, 2026 to file lead plaintiff applications in a securities class action lawsuit against Six Flags Entertainment Corporation f/k/a CopperSteel HoldCo, Inc. (NYSE: FUN), if they purchased or otherwise acquired the Company’s common stock pursuant or traceable to the company’s registration statement and prospectus issued in connection with the July 1, 2024 merger of legacy Six Flags Entertainment Corporation (“Legacy Six Flags”) with Cedar Fair, L.P. (“Cedar Fair”), and their subsidiaries and affiliates (the “Merger”). This action is pending in the United States District Court for the Northern District of Ohio.

What You May Do

If you purchased shares of Six Flags as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-fun/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 5, 2026.

About the Lawsuit

Six Flags and certain of its executives are charged with failing to disclose material information in the registration statement for the Merger, violating federal securities laws.

Specifically, the Registration statement failed to disclose that (i) despite the Company’s claims that it had pursued transformational investment initiatives in the years leading up to the Merger, Legacy Six Flags in fact suffered from chronic underinvestment and its parks required millions of dollars in additional capital and operational expenditures above the company’s historical cost trends in order to maintain or grow Legacy Six Flags’ share in the intensely competitive amusement park market; (ii) following defendant Selim Bassoul's appointment as CEO in November 2021, the company implemented aggressive cost-cutting measures, including significant reductions in employee headcount, which materially degraded operational competence and guest experience; (iii) as a result, Legacy Six Flags required a substantial and undisclosed capital infusion to stabilize and revitalize its business, and these acute capital needs fundamentally undermined the rationale for the Merger as presented in the registration statement.

On the Merger closing date, July 1, 2024, Six Flags stock traded above $55 per share. The price of Six Flags stock subsequently fell as low as $20 per share, a nearly 64% decline.

The case is City of Livonia Employees’ Retirement System v. Six Flags Entertainment Corporation, No. 25-cv-02394.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner
[email protected] 
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn

NEW YORK and NEW ORLEANS, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with substantial losses that they have until January 12, 2026 to file lead plaintiff applications in a securities class action lawsuit against Stride, Inc. (“Stride” or the “Company”) (NYSE: LRN), if they purchased or otherwise acquired the Company’s securities between October 22, 2024 and October 28, 2025, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of Virginia.

What You May Do

If you purchased securities of Stride and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-lrn/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 12, 2026.

About the Lawsuit

Stride and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On September 14, 2025, it was reported that the Gallup-McKinley County Schools Board of Education had filed a complaint against the Company, alleging fraud, deceptive trade practices, systemic violations of law, and intentional and tortious misconduct, including inflating enrollment numbers by retaining “ghost students” on rolls to secure state funding per student and ignoring compliance requirements, including background checks and licensure laws for its employees. On this news, the price of Stride’s shares fell $18.60 per share, or 11.7%, to close at $139.76 per share on September 15, 2025.

Then, on October 28, 2025, the Company disclosed that “poor customer experience” had resulted in “higher withdrawal rates,” “lower conversion rates,” and had driven students away, and that the Company estimated the impact caused approximately 10,000-15,000 fewer enrollments and that, because of this, its outlook is “muted” compared to prior years. On this news, the price of Stride’s shares fell $83.48 per share, or more than 54%, to close at $70.05 per share on October 29, 2025.

The case is MacMahon v. Stride, Inc., et al., Case No. 25-cv-02019.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn

NEW YORK and NEW ORLEANS, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., notifies investors in Jayud Global Logistics Limited (“Jayud” or the “Company”) (NasdaqCM: JYD) of a class action securities lawsuit.

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of investors of Jayud Global who were adversely affected by alleged securities fraud between April 21, 2023 and April 30, 2025. Follow the link below to get more information and be contacted by a member of our team:

https://www.ksfcounsel.com/cases/nasdaqcm-jyd/

Jayud Global investors should contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqcm-jyd/ to learn more.

CASE DETAILS: According to the Complaint, the alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company was the subject of a fraudulent stock promotion “pump-and-dump” scheme involving social media-based misinformation and impersonated financial professionals; (ii) insiders and/or affiliates used offshore or nominee accounts to facilitate the coordinated dumping of shares during a price inflation campaign; (iii) the Company’s public statements and risk disclosures omitted any mention of the false rumors and artificial trading activity elevating the stock price; and (iv) as a result of the foregoing, defendants’ positive statements about Jayud’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

The case is Lindstrom v. Jayud Global Logistics Limited, et al., Case No. 25-cv-09662.

WHAT TO DO? If you invested in Jayud Global and suffered a loss during the relevant time frame, you have until January 19, 2026 to request that the Court appoint you as lead plaintiff; however, your ability to share in any recovery does not require that you serve as a lead plaintiff.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn

, /PRNewswire/ -- Kodiak Sciences Inc. (Nasdaq: KOD), a precommercial retina focused biotechnology company committed to researching, developing and commercializing transformative therapeutics, today announced the pricing of an upsized underwritten public offering of 6,956,522 shares of its common stock at a price to the public of $23.00 per share. The gross proceeds to Kodiak Sciences from the offering are expected to be approximately $160 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by Kodiak Sciences. The offering is expected to close on or about December 18, 2025, subject to customary closing conditions. In addition, Kodiak Sciences has granted the underwriters a 30-day option to purchase up to an additional 1,043,478 shares of its common stock at the public offering price, less underwriting discounts and commissions. All of the shares are being sold by Kodiak Sciences.

J.P. Morgan, Jefferies, Evercore ISI and UBS Investment Bank are acting as joint book-running managers for the offering. 

The shares described above are being offered by Kodiak Sciences pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed by Kodiak Sciences with the Securities and Exchange Commission (the "SEC") and that was declared effective by the SEC on June 2, 2023. A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available for free on the SEC's website located at http://www.sec.gov. A final prospectus supplement relating to the offering will be filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at [email protected] and [email protected]; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, telephone: (877) 821-7388, or by emailing [email protected].; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, or by telephone at 888-474-0200, or by email at [email protected]; or UBS Securities LLC, Attention: Prospectus Department, UBS Investment Bank, 11 Madison Avenue, New York, New York 10010 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 Kodiak Sciences Inc.
Kodiak Sciences (Nasdaq: KOD) is a precommercial retina focused biotechnology company committed to researching, developing and commercializing transformative therapeutics. We are focused on bringing new science to the design and manufacture of next generation retinal medicines to prevent and treat the leading causes of blindness globally. Our ABC® Platform uses molecular engineering to merge the fields of protein-based and chemistry-based therapies and has been at the core of Kodiak's discovery engine. We are developing a portfolio of three late-stage clinical programs. Tarcocimab and KSI-501 are being explored in two BLA-facing Phase 3 studies in the retinal vascular diseases. KSI-101 is a bispecific protein being explored in two Phase 3 studies in Macular Edema Secondary to Inflammation (MESI).

Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not based on historical fact and include, but are not limited to, statements regarding the completion and timing of the public offering. Any forward-looking statements are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties related to satisfaction of customary closing conditions related to the public offering. Although Kodiak Sciences believes the expectations reflected in these forward-looking statements are reasonable, such statements are inherently subject to risk and Kodiak can give no assurances that its expectations will prove to be correct. As a result, you should not place undue reliance on these forward-looking statements. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Kodiak Sciences' annual report on Form 10-K for the year ended December 31, 2024 and its subsequent quarterly reports on Form 10-Q filed with the SEC, as well as in the preliminary prospectus supplement related to the proposed public offering to be filed with the SEC. The forward-looking statements contained herein speak only as of the date hereof and Kodiak Sciences undertakes no obligation to revise or update these forward-looking statements for any reason, except as required by law.

Kodiak®, Kodiak Sciences®, ABC™, ABC Platform™ and the Kodiak logo are registered trademarks or trademarks of Kodiak Sciences Inc. in various global jurisdictions.

SOURCE Kodiak Sciences Inc.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

OpenAI is in early-stage discussions to raise at least $10 billion from Amazon.com Inc., a move that could significantly deepen ties between the ChatGPT maker and the world’s largest cloud-computing provider, reported Information.

The talks also include the possibility of OpenAI adopting Amazon’s in-house Trainium chips, according to the report citing a person with knowledge of the matter.

If completed, the deal could value OpenAI at more than $500 billion, underscoring the continued surge in capital flowing into artificial intelligence leaders.

The negotiations remain preliminary, and terms could still change, the person said.

Still, the discussions highlight intensifying competition among technology giants to secure strategic positions in the rapidly expanding AI ecosystem.

Amazon’s push to challenge Nvidia
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A potential agreement would mark a notable milestone for Amazon’s relatively young semiconductor division.

Nvidia Corp. currently dominates the market for the advanced chips used to train and run large AI models, but cloud providers and major technology companies are increasingly exploring alternatives to reduce costs and reliance on a single supplier.

Amazon’s Trainium chip sits at the center of that strategy.

Designed to handle the intensive calculations behind AI models, Trainium is positioned as a cheaper and more energy-efficient alternative to Nvidia’s graphics processing units, according to Amazon.

The company hopes this pricing advantage will appeal to AI developers seeking to manage soaring infrastructure costs.

The effort mirrors similar moves across the industry.

Developers such as Meta Platforms Inc. have begun testing rival chips from companies including Alphabet Inc.’s Google, reflecting broader attempts to diversify hardware options as demand for AI computing power accelerates.

Strategic stakes in cloud and AI
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The discussions also reflect Amazon Web Services’ broader challenge in AI.

While AWS remains the world’s largest provider of rented computing power and data storage, it faces fierce competition in attracting AI developers, particularly from Microsoft Corp.

Microsoft is one of OpenAI’s largest backers and has tightly integrated the startup’s models into its own cloud and software products.

OpenAI and Amazon already announced a major partnership last month under which AWS will supply the startup with $38 billion of cloud computing capacity over seven years.

That deal was centered on the use of hundreds of thousands of Nvidia chips, highlighting how central Nvidia hardware remains even as alternatives are explored.

The new talks reportedly began around October, following OpenAI’s completion of a lengthy corporate restructuring.

As part of that overhaul, Microsoft took a 27% ownership stake in OpenAI, after negotiations that lasted nearly a year, according to earlier reporting by the Information.

Valuation surge and market concerns
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OpenAI was last valued at $500 billion in an employee share sale, briefly surpassing Elon Musk’s SpaceX to become the world’s largest startup by valuation.

The rapid rise reflects an investment frenzy around companies seen as leaders in a technology with the potential to reshape entire industries.

At the same time, some Wall Street analysts have cautioned that the pace of investment could be forming a bubble.

They point to the circular nature of certain deals, where companies invest heavily in potential customers to sustain demand for their own products.

Against that backdrop, a deeper partnership between OpenAI and Amazon would illustrate both the scale of opportunity in AI and the growing interdependence among its biggest players.

Companies with impressive demand visibility, rapid innovation cycles, and robust supply chains can pleasantly surprise investors.

Nvidia's (NVDA +0.99%) stellar third-quarter fiscal 2026 earnings (ended Oct. 26, 2025) prompted a wave of analyst upgrades. The consensus target price of $256.95 is more than 45% above the company's closing share price on Dec. 16.

Image source: Getty Images.

Even then, I contend that analysts may still be underestimating the company's long-term growth potential. Here's why.

Record order visibility
Nvidia reports exceptionally high order visibility of $500 billion for Blackwell and Rubin systems from the start of 2025 through the end of calendar year 2026. Of this, about $150 billion has already been shipped.

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Nvidia has also entered into a few deals, which can expand its demand visibility beyond $500 billion. These include an expanded partnership with the Saudi Public Investment Fund's AI company, HUMAIN, to deploy 400,000 to 600,000 GPUs over the next three years. Nvidia has also collaborated with Anthropic to provide underlying GPU infrastructure for training its next-generation frontier models, with up to one gigawatt of compute capacity.

Bank of America analysts have now claimed that Nvidia has demand and supply visibility into at least $500 billion of sales over calendar years 2025 and 2026, while the partnerships with OpenAI and Anthropic represent incremental upside beyond this baseline.

Hence, Nvidia's consensus revenue estimates for the next few years appear conservative given the visibility of this record demand.

China catalyst
Nvidia also stands to benefit from the U.S. government's approval to sell Nvidia's advanced H200 chips to China, despite 25% of the revenue required to be paid to the U.S. Treasury. While not yet guaranteed, this move could be a significant step toward reopening the Chinese market, which had once contributed an estimated 20% to 25% of Nvidia's total data center sales. Wells Fargo analyst Aaron Rakers expects this policy change to boost the company's annual revenue by $25 billion to $30 billion. Nvidia also seems to be responding to this opportunity, as it may be evaluating current production capacity for H200 chips.

Aggressive product cadence
Nvidia's aggressive product cadence, which involves refreshing its GPU architecture every 12 to 18 months, has accelerated the silicon replacement cycle globally. The company is now promising an annual product cadence and has already launched the Blackwell and Blackwell Ultra systems. Nvidia now plans to launch new GPU architectures, including Rubin in 2026, Rubin Ultra in 2027, and Feynman by 2028.

By introducing dramatic improvements in performance and cost efficiency to adapt to the evolving demands of artificial intelligence (AI) workloads, the company has incentivized customers to upgrade infrastructure more frequently. Clients are also increasingly preferring the GPUs over custom silicon alternatives, which typically follow a slower three to five-year refresh cadence. Analysts may not have fully accounted for the impact of this accelerated demand in their revenue estimates.

Supply chain management
Morgan Stanley has projected global demand for Chip-on-Wafer-on-Substrate (CoWoS) packaging wafers to reach 1 million units by 2026. Of these, Nvidia is expected to book approximately 595,000 CoWoS wafers, representing approximately 60% of available capacity by 2026.

Nvidia had purchase commitments worth $50.3 billion at the end of the third quarter. This includes long-term supply contracts for CoWoS packaging, high-bandwidth memory (HBM) chips, and other crucial components. By controlling the supply chain, the company has managed to optimize costs, which is reflected in its strong margins.

Software moat
In addition to hardware, Nvidia has built a robust software ecosystem around its CUDA (Compute Unified Device Architecture) stack, including platforms such as DGX Cloud and AI Foundry. With a developer base of over 5 million, using the CUDA parallel programming platform to optimize GPU programming, software plays a crucial role in building a loyal customer base for the company.

Valuation
Despite the robust tailwinds, Nvidia is currently trading at 23.1 times forward earnings and a price-to-earnings-to-growth ratio of only 0.48. For a company with multiyear revenue visibility, aggressive product cadence, and robust supply chain, these valuation multiples seem relatively modest.

Analysts appear to expect significant normalization in Nvidia's revenue beyond 2026. This is evident from the company's long-term projections, with revenue projected to grow from nearly $213 billion in fiscal 2026 (ending Jan. 31, 2026) to approximately $555.5 billion in fiscal 2031 (ending Jan. 31, 2031).

Nvidia expects the annual AI infrastructure opportunity to be worth $3 trillion to $4 trillion by 2030. The company could reasonably capture 20% to 25% of this market by the end of the decade, given that lead technology analyst Beth Kindig estimates Nvidia currently accounts for nearly half of the AI spending. So, there is a high probability that Nvidia's annual revenue will fall within the range of $600 billion to $1 trillion, which is still higher than the analyst consensus revenue estimates.

HomeStock IdeasLong IdeasTech 

SummaryBroadcom Inc. is rated Buy, driven by a robust $73B AI hardware backlog and VMware integration, supporting topline visibility through FY2026.AVGO's two-engine model—custom silicon XPUs and high-margin VCF software—reduces hyperscaler dependency and enables scalable, recurring revenue streams.Despite a forecasted 100bps gross margin contraction from AI hardware mix, AVGO's EBITDA run-rate exceeds $51B, supporting multiple expansion and dividend growth.DCF analysis indicates 58% upside to $569/share; current pullback offers attractive entry between $365 and $275, with gross margin floor and VCF bookings as key monitorables. JHVEPhoto/iStock Editorial via Getty Images

My investment argument assigns Broadcom Inc. (AVGO) a Buy rating based on its progressive 2-engine business model. One engine is the accelerating commercialization of XPUs, and the second is the VMware backlog. The reasoning comes from

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

SAN JOSE, Calif., Dec. 16, 2025 (GLOBE NEWSWIRE) -- Synaptics® Incorporated (Nasdaq:

SYNA) today announced that it will showcase a broad portfolio of AI-native processing, sensing, and connectivity technologies at CES 2026. These solutions demonstrate how intelligence at the Edge transforms real-world applications across consumer, industrial, smart home, and enterprise markets.

As global demand grows for devices that can interpret their environment, make context-aware decisions, and deliver seamless user experiences, Synaptics is raising the bar for what’s possible for Edge AI and Analog Mixed Signal solutions across a diverse range of applications.

Powering the Next Generation of Smart, Immersive Devices
At Synaptics’ private suite at the Venetian Hotel, demonstrations will showcase how Astra AI-native SoCs, Veros™ advanced wireless solutions, and their leading multimodal sensing work together to enable real-world devices with new levels of perception, performance, and efficiency.

Visitors will experience application-focused demonstrations including:

Smart Home & Living: Context-Aware Automation
The Synaptics Astra™ line of AI-native SoCs allow devices to locally process voice, gesture, and motion, — improving responsiveness and privacy, while reducing cloud dependence. Their Veros wireless solutions are designed to extend these capabilities with long-range, low-latency, and reliable connectivity for wider, dependable coverage.

Robotics & Industrial Automation: Real-Time Intelligence at the Edge
This integrated demonstration unifies Synaptics’ Astra processors, Veros connectivity, and Touch Sensing solutions into a single robotic application suitable for consumer and industrial markets. On-device inferencing is well-suited for predictive maintenance and safety monitoring, and when combined with Veros’ robust connectivity capabilities, enables faster decisions, reduced downtime, and greater operational efficiency.

Personal Devices & Computing: More Intuitive Human Interaction
Synaptics’ Sensing portfolio—including touch, biometric, vision, and display innovations— demonstrates how processing multimodal analog inputs backed by Edge AI creates more personalized, secure, and immersive user experiences across PCs, mobile devices, wearables, and home electronics.

Experience Synaptics at CES 2026
Synaptics will host hands-on, immersive experience technology demonstrations that show how customers and partners can unlock new capabilities for:

Smart home automationIndustrial and robotic intelligenceConsumer devices and wearablesAudio, vision, and multimodal sensingHigh-efficiency, long-range wireless connectivity Visit Synaptics' private suite at the Venetian Hotel, Level 2 Exhibitor Suites, Bellini Ballroom #2105 and #2106, to experience the full lineup of interactive demonstrations for Edge AI, wireless, audio, touch, biometrics, PC, mobile, and automotive. For media appointments, email [email protected].

About Synaptics Incorporated
Synaptics (Nasdaq: SYNA) is driving innovation in AI at the Edge, bringing AI closer to end users and transforming how we engage with intelligent connected devices, whether at home, at work, or on the move. As a go-to partner for forward-thinking product innovators, Synaptics powers the future with its cutting-edge Synaptics Astra™ AI-Native embedded compute, Veros™ wireless connectivity, and multimodal sensing solutions. We’re making the digital experience smarter, faster, more intuitive, secure, and seamless. From touch, display, and biometrics to AI-driven wireless connectivity, video, vision, audio, speech, and security processing, Synaptics is the force behind the next generation of technology enhancing how we live, work, and play. Follow Synaptics on LinkedIn, X, and Facebook, or visit www.synaptics.com. 

Synaptics and the Synaptics logo are trademarks of Synaptics in the United States and/or other countries. All other marks are the property of their respective owners.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding statements regarding the expected performance, capabilities, features, and potential benefits of Synaptics’ technologies, products, and demonstrations, as well as anticipated customer and market opportunities. Such forward-looking statements may include words such as “expect,” “anticipate,” “intend,” “believe,” “estimate,” “plan,” “target,” “strategy,” “continue,” “may,” "commit," “will,” “should,” variations of such words, or other words and terms of similar meaning. All forward-looking statements are based upon the company’s current expectations or various assumptions. The company’s expectations and assumptions are expressed in good faith, and the company believes there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, changes in market demand, technological challenges, competitive products, global economic conditions, and other risks discussed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Synaptics undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, except as required by law.

RecycLiCo Battery Materials Inc. (AMY:CA) Shareholder/Analyst Call December 16, 2025 4:00 PM EST

Company Participants

Paul Hildebrand
Richard Sadowsky - CEO & Director
Anthony Mitchell

Presentation

Paul Hildebrand

I would like to call the meeting to order. My name is Paul Hildebrand, as I am the Chair of the Board of Directors, the company in accordance to the company's articles, I will act as the chair of the meeting. In addition Shaheem Ali, the company's Chief Financial Officer, will act as the Secretary of the meeting.

With the concurrence of the meeting, I now appoint James Effort of Endeavour Trust Corporation, as the scrutineer of the meeting. The company's articles stipulate that a quorum for the transaction of business at a meeting of shareholders is 2 persons who are or who represent by proxy, shareholders who, in the aggregate, hold at least 5% of the issued shares entitled to vote at the meeting. I have been informed by the scrutineer that we have a sufficient number of shareholders present in person or represented by proxy who hold a sufficient number of shares constitute a quorum. I therefore declare that a quorum is present and that the meeting is regularly called and properly constituted for the transaction of business. I have before me the information circular, notice of meeting, form of proxy and financial statement request form delivered to shareholders in connection with the meeting.

I will table the meeting materials together with the confirmation of mailing of this, I will dispense with the calling for the reading of the notice of meeting, and I will direct the secretary to file materials with the minutes of this meeting. Do you have them, James? Thank you. Turning next to some procedural matters. Prior to proceeding with the business of the meeting, I wish to make a few comments regarding procedural matters. Only

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

Part of the Team Since

Jan 2024

About Author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated: 

December 16, 2025

Bitcoin rose about 2% in Asian hours on Wednesday as regional shares edged higher, and traders kept one eye on Thursday’s US inflation print for clues on how much room the Federal Reserve has to cut rates in 2026.

Equity markets remained measured across the region after a mixed US jobs report and soft purchasing managers’ data left investors debating whether growth is cooling fast enough to justify easier policy.

Akshat Siddhant, lead quant analyst at Mudrex, said “Despite this uncertainty, Bitcoin exchange reserves sitting at record lows have supported the upside, giving bulls an edge. Attention now turns to the upcoming CPI data, which will shape expectations around a potential Fed rate cut.”

“If momentum holds, BTC could advance toward $90,000, with support gradually moving higher to the $86,000 zone,” he added.

Market snapshot
Bitcoin: $87,274, up 1.9%
Ether: $2,948, up 0.5%
XRP: $1.93, up 3.4%
Total crypto market cap: $3.05 trillion, up 1.3%
Tech Rebound Lifts Asian Mood As CPI LoomsS&P 500 futures slipped 0.1% as the CPI release moved to the top of the macro calendar.

Technology shares helped lift sentiment after a bruising stretch. South Korea’s KOSPI gained 0.6% and Hong Kong’s Hang Seng added 0.3%, as buyers returned to large-cap tech names and the broader AI complex.

Some of that lift spilled into the robotaxi theme in Hong Kong. Pony AI and WeRide climbed more than 3% each, tracking strength in Tesla after chief executive Elon Musk said the carmaker was testing robotaxis with no human safety drivers.

On Wall Street, the Nasdaq finished Tuesday higher and the S&P 500 and Dow ended lower, with healthcare and energy weighing. Investors parsed delayed economic releases after a recent government shutdown slowed data collection, and the market treated the numbers as directionally useful rather than definitive.

Payroll Surprise Fails To Ease Growth ConcernsA Labor Department report showed nonfarm payrolls rose by 64,000 jobs in November after an October drop linked to government spending cuts, and the unemployment rate climbed to 4.6%. Separate figures showed retail sales were flat in October, slightly below economists’ expectations.

Nic Puckrin, an investment analyst and co-founder of Coin Bureau, said year-end tax-loss selling is adding pressure, with Bitcoin among the assets where many investors are sitting on losses.

He said that dynamic could weigh on prices into the end of 2025 and leaves room for a slide below $80,000 if the sell-off deepens. In the near-term, he pointed to the ETF cost basis around $83,800 as a key level, with further support near $81,200, which he described as the market’s true mean.

Japan Gains On Trade Data As Rate Hike Bets BuildIn Greater China, the Shanghai Shenzhen CSI 300 rose 0.5% and the Shanghai Composite stayed flat, as investors waited for clearer signs of fiscal support from Beijing after a run of soft November data.

Elsewhere, Australia’s ASX 200 dipped 0.2% and Singapore’s Straits Times index fell 0.3%, and data showed Singapore’s non-oil exports rose in November.

Japan’s Nikkei 225 added 0.3% and the broader Topix gained 0.1% after trade data showed exports beat expectations, a signal that overseas demand is supporting growth into year-end. Traders also watched the Bank of Japan ahead of Friday’s policy decision, with markets leaning toward a rate increase as the yen stays weak and inflation remains sticky.

US rate expectations also sat under a leadership storyline, after the Wall Street Journal reported President Donald Trump is set to interview Fed Governor Christopher Waller on Wednesday for the chair role, adding another variable to a week already driven by CPI risk.

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Why XRP’s drop below $1.93 shifts short-term market structureThe move followed multiple failed attempts to sustain momentum above recent resistance, leaving XRP vulnerable once support levels were tested again.Updated Dec 17, 2025, 4:12 a.m. Published Dec 17, 2025, 4:12 a.m.

XRP lost a key technical level after a failed breakout attempt, with heavy volume confirming a shift toward short-term bearish control.

News backgroundXRP declined 2.6% over the past 24 hours, falling from $1.95 to $1.90 as broader crypto markets showed signs of fatigue. The move followed multiple failed attempts to sustain momentum above recent resistance, leaving XRP vulnerable once support levels were tested again.

STORY CONTINUES BELOW

There were no fresh fundamental catalysts driving the selloff. Instead, the move unfolded in a technically sensitive zone, where positioning had built up following earlier rebound attempts. As price stalled near resistance, selling pressure re-emerged, overwhelming bids during the European trading session.

Technical analysisThe breakdown below the $1.93 Fibonacci level marked a clear technical failure. This zone had previously acted as a pivot during consolidation, and its loss shifts short-term structure back in favor of sellers.

Volume expanded sharply during the rejection, with turnover rising 107% above daily averages, confirming that the move was driven by active distribution rather than low-liquidity drift. The rally attempt toward $1.95 showed early momentum with higher highs, but the inability to hold above $1.92 triggered systematic selling into strength.

From a structure perspective, XRP transitioned from range expansion to range rejection. As long as price remains capped below the $1.93–$1.95 zone, upside attempts are corrective rather than trend-changing.

Price action summaryXRP traded through a $0.09 range during the session, initially pushing toward $1.95 before reversing sharply. Selling intensified once price slipped back into the $1.92–$1.94 band, with bids thinning near the lower boundary.

Following the breakdown, XRP stabilized near $1.90, where selling pressure eased and volume began to normalize. Hourly price action shows consolidation forming just above the $1.88–$1.90 area, though no strong reversal signals have emerged yet.

What traders should knowThe $1.93 level now acts as first major resistance. Any recovery attempt must reclaim this zone on strong volume to shift momentum back toward neutral. Failure to do so keeps downside risk in play.

On the downside, $1.88–$1.90 is the immediate area to watch. A sustained break below this base would expose deeper support levels, while successful defense could allow XRP to consolidate before the next directional move.

For now, volume behavior remains critical. Continued selling on rallies would confirm ongoing distribution, while fading volume near support would suggest the market is transitioning from breakdown to stabilization.

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