TORONTO, April 21, 2026 (GLOBE NEWSWIRE) -- PharmAla Biotech Holdings Inc. ("PharmAla" or the "Company") (CSE: MDMA) (OTC: MDXXF), a biotechnology company focused on the research, development, and manufacturing of LaNeo$(TM)$ MDMA and novel derivatives of MDMA (MDXX class molecules), is pleased to have publicly filed its financial and operational results for the period ended February 28, 2026. All figures are reported in Canadian dollars. The Company's full set of unaudited condensed interim consolidated financial statements for the quarter and accompanying management's discussion and analysis can be accessed by visiting the Company's website at www.PharmAla.ca and its profile page on SEDAR+ at www.sedarplus.ca.
"PharmAla's financial position continues to benefit from an operational focus by the Company's management," said Nick Kadysh, Founding CEO. "PharmAla continues to be the only Psychedelics company that has worked to understand and continually improve commercial implications, in Australia and beyond; As Psychedelics advance rapidly towards commercialization globally, this operational know-how will become only more valuable."
Financial Highlights:
-- Customer deposits have continued to grow by $310,719 through Q2, offset
by recognition of revenue of $181,492. These deposits, generally being
50% of the total contract value, can be recognized along with the
remaining revenue when the related product is shipped, which for many
customers requires the issuance of their clinical trial and/or import
permits from relevant regulatory bodies.
-- Revenues for the three and six months ended February 28, 2026 were
$220,584 and $487,024 compared to $145,657 and $202,954 for the three and
six months ended February 28, 2025.
-- Net loss and comprehensive loss for the three and six months ended
February 28, 2026 were $337,696 and $747,391 compared to $810,766 and
$1,289,875 for the three and six months ended February 28, 2025.
-- Cash used in operating activities was $366,396 for the six months ended
February 28, 2026 compared to $491,721 for the six months ended February
28, 2025.
"Through Q2 2026, we have continued to see increased demand for our product, culminating in a steady increase in customer deposits," said Will Avery, CFO, PharmAla Biotech. "With our proven supply chain in the U.S. and Australia we have been able to convert customer deposits into revenue at an improved rate."
Issuance of Options:
PharmAla has issued options to the following Board Members and Officers. The options are issued subject to a vesting period, such that every 3 months 25% of the allotment will be vested, such that the options shall be fully vested on the 12 month anniversary of the date of grant, which is April 20, 2026. The options have a fixed exercise price per share of $0.10 (subject to adjustment in accordance with the terms of the Plan and/or stock option agreement). All vested but unexercised options shall expire and cease to be of effect on April 20, 2031.
Name of Optionee Position Number of Options ---------------------- ------------------------ ----------------- Jodi Butts Director 350,000 Kevin Roy Director 250,000 Fraser Macdonald Director 250,000 Perry Tsergas Director 250,000 Lennie Ryer Director 250,000 Nicholas Kadysh Chief Executive Officer 1,000,000 Will Avery Chief Financial Officer 1,000,000 Farnoud Kazemzadeh Chief Operating Officer 1,000,000 Harpreet Kaur Employee 500,000 Total 4,850,000
Corporate Leadership Change
The Company regretfully announces that Ali Taghva will transition out of his role as Chief Commercial Officer to focus on other projects. Mr. Taghva will leave the role of Chief Commercial Officer effective immediately, and will fully transition out of the company by July 2026.
About PharmAla
PharmAla Biotech Holdings Inc. (CSE: MDMA) (OTCQB: MDXXF) is a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA. PharmAla was founded with a dual focus: alleviating the global backlog of generic, clinical-grade MDMA to enable clinical trials as well as commercial sales in selected jurisdictions, and to develop novel drugs in the same class. PharmAla is the only company currently provisioning clinical-grade MDMA for patient treatments outside of clinical trials. PharmAla's research and development unit has completed proof-of-concept research into several IP families, including ALA-002, its lead drug candidate. PharmAla is a "regulatory first" organization, formed under the principle that true success in the psychedelics industry will only be achieved through excellent relationships with regulators.
For more information, please contact:
Nicholas Kadysh
Chief Executive Officer
PharmAla Biotech Holdings Inc.
Email: press@PharmAla.ca
Phone: 1-855-444-6362
Website: www.PharmAla.ca
Neither the CSE nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "strategy", "expects" or "does not expect", "intends", "continues", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "will be taken", "will launch" or "will be launching", "will include", "will allow", "will be made" "will continue", "will occur" or "will be achieved". We direct readers to refer to the "Caution Regarding Forward-Looking Statements" contained within the Company's management's discussion and analysis for the period ended February 28, 2026, as filed on Sedar+ www.sedarplus.ca.
Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. Although the Company believes that the expectations reflected in these statements are reasonable, such statements are based on expectations, factors, and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including but not limited to the risk factors discussed in the Company's management's discussion and analysis, and elsewhere in this press release, as such factors may be further updated from time to time in our periodic filings, available at www.sedarplus.ca, which factors are incorporated herein by reference. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results, or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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 the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
(END) Dow Jones Newswires
April 21, 2026 16:05 ET (20:05 GMT)
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