NEWTOWN, Pa., March 24, 2026 (GLOBE NEWSWIRE) -- Solana Company (NASDAQ: HSDT) (the “Company” or “HSDT”), a publicly listed company that has expanded its business to include a digital asset treasury dedicated to acquiring and holding Solana (SOL), today announced that the Company will release its fourth quarter and full year operating results on Monday, March 30, 2026, after market close. Management will host a conference call to discuss the results and provide an expanded business update as follows: Date:M ...

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential opportunities for traders [1] Premarket Gainers - Brand Engagement Network, Inc. (BNAI) is up 20% at $51.61 [3] - Latham Group, Inc. (SWIM) is up 20% at $7.79 [3] - Evolus, Inc. (EOLS) is up 14% at $4.74 [3] - Edesa Biotech, Inc. (EDSA) is up 11% at $4.86 [3] - 20/20 Biolabs, Inc. (AIDX) is up 11% at $3.28 [3] - DeFi Development Corp. (DFDV) is up 9% at $4.04 [3] - Accel Entertainment, Inc. (ACEL) is up 7% at $11.95 [3] - Solana Company (HSDT) is up 7% at $2.12 [3] - Nano-X Imaging Ltd. (NNOX) is up 6% at $2.76 [3] - Strive Asset Management, LLC (ASST) is up 5% at $8.81 [3] Premarket Losers - Battalion Oil Corporation (BATL) is down 28% at $19.67 [4] - TMD Energy Limited (TMDE) is down 24% at $3.03 [4] - Ascent Industries Co. (ACNT) is down 15% at $14.75 [4] - indie Semiconductor, Inc. (INDI) is down 14% at $2.71 [4] - WEBTOON Entertainment Inc. (WBTN) is down 13% at $9.98 [4] - STAAR Surgical Company (STAA) is down 10% at $17.00 [4] - Indonesia Energy Corporation Limited (INDO) is down 10% at $4.68 [4] - BiomX Inc. (PHGE) is down 7% at $4.52 [4] - Arbutus Biopharma Corporation (ABUS) is down 6% at $4.37 [4] - Global Interactive Technologies, Inc. (GITS) is down 6% at $2.43 [4]

Core Viewpoint - Pantera Capital and Summer Capital have jointly led a financing round of over $500 million to establish Solana Company (NASDAQ: HSDT), which has announced the launch of its infrastructure development plan "Pacific Backbone" in the Asia-Pacific region [1] Group 1: Infrastructure Development - The first phase of the "Pacific Backbone" project will construct a high-speed, low-latency network between Seoul, Tokyo, Singapore, and Hong Kong [1] - This network aims to directly support Solana's staking and validation node operations [1] - The initiative addresses the insufficient network coverage in the APAC region and aims to reduce staking and validation costs [1]

Core Insights - Solana Company is launching a strategic roadmap to invest in a new low-latency cluster in the Asia Pacific region to enhance staking and validation, aiming to support Solana's ecosystem and diversify revenue streams [1][4] - The infrastructure investment will connect major cities including Seoul, Tokyo, Singapore, and Hong Kong, addressing the existing gap in Solana's network in this high-potential region [1][8] - The company plans to optimize performance and adopt new technologies by the second half of 2026, with new liquidity-related products and services expected to launch within 12 to 18 months [2] Infrastructure Development - The network infrastructure buildout will focus on market makers, high-frequency traders, and other partners within the Solana ecosystem [3][8] - Initial steps will involve activating smaller nodes to ensure security and efficiency, followed by scaling operations [3] - The strategic plan includes implementing advanced hardware to capture more value in the staking business [3] Market Position and Growth Potential - Solana has been recognized as the fastest-growing blockchain, processing over 3,500 transactions per second and maintaining around 3.7 million daily active wallets [5] - The company aims to enhance its offerings in decentralized finance (DeFi), liquid staking, automated market makers (AMMs), and execution services for traditional finance partners in the Asia Pacific region [4][8] - The investment roadmap is expected to unlock significant potential for Solana across Asia Pacific and strengthen its ties to global markets [4]

Core Insights - Solana Company, Anchorage Digital, and Kamino have launched a tri-party custody model to attract institutional capital to Solana's DeFi ecosystem, allowing institutions to earn staking rewards while accessing on-chain liquidity [1][2][3] Group 1: Institutional Collaboration - The collaboration aims to provide a scalable model for institutional investors, demonstrating how regulated custody can work with on-chain borrowing and lending [3][4] - Anchorage Digital will manage collateral for natively staked SOL, enabling institutions to unlock borrowing power while maintaining custody of their assets [3][5] Group 2: Operational Efficiency - The Atlas collateral management system offers 24/7 automated oversight of loan-to-value ratios and manages margin and collateral movements, ensuring compliance and operational control for institutions [5][6] - This model is designed for institutions seeking protocol-native credit while benefiting from federally-regulated custody standards [6][8] Group 3: Market Potential - The collaboration is positioned as a repeatable blueprint for institutional participation in protocol borrowing, potentially attracting other investors and venture firms [7] - Solana has established itself as a leading blockchain with over 3,500 transactions per second and approximately 3.7 million daily active wallets, indicating strong market demand for its services [9]

Core Insights - Several biotechnology and pharmaceutical companies experienced significant gains in after-hours trading due to corporate updates and upcoming event announcements [1] Company Updates - Jasper Therapeutics, Inc. (JSPR) saw a 21.51% increase to $2.09 after hours, following the announcement of a webinar on December 2 to present findings from the BEACON study and preliminary data from the ETESIAN study [2] - NRx Pharmaceuticals, Inc. (NRXP) rose 13.39% to $2.71 after hours, with the CEO scheduled to present at NobleCon21 on December 3, discussing the company's expanded focus and clinical revenue progress [3] - Unicycive Therapeutics, Inc. (UNCY) increased by 5.42% to $6.33, with the CEO participating in two upcoming events, although no new announcements were made on Monday [4] - Spruce Biosciences, Inc. (SPRB) shares rose 4.68% to $87.00 after reporting a net loss of $8.2 million for the quarter ending September 30, 2025, an improvement from a net loss of $8.7 million in the previous year [5] - Evaxion A/S (EVAX) added 3.96% to $5.65, announcing progress in its CMV vaccine program with new protective data and ongoing preclinical development [6] - Solana Company (HSDT) gained 3.48% to $3.87, reporting a net loss of $352.8 million for the third quarter, a significant increase from a net loss of $3.7 million in the prior-year period, with revenue totaling $697,000 [7] - Protara Therapeutics, Inc. (TARA) rose 5.04% to $7.08, planning a conference call on December 3 to review interim data from its Phase 2 trial of TARA-002 in bladder cancer patients [8]

Financial Data and Key Metrics Changes - The third quarter revenue was $697,000, which included first-time staking rewards income of $342,000, marking a significant increase from the prior year period [25] - Cost of revenue decreased to $103,000 from $187,000 in the prior year, primarily due to reduced inventory reserve and production scrap expenses [25] - Total operating expenses for the third quarter were $36 million, compared to $3.9 million in the third quarter of 2024, resulting in a loss from operations of $35.4 million, up from a loss of $4.1 million in the prior year [26] - The net loss for the third quarter was $352.8 million, or a loss of $32.89 per share, compared to a net loss of $3.7 million in the prior year [27][28] Business Line Data and Key Metrics Changes - The company has increased its holdings of SOL by approximately $100,000 in the first month of operation, totaling over 2.3 million tokens [15] - The average gross staking yield for October was 7.03% APY, outperforming the stake-weighted average of the top 10 largest validators [16] Market Data and Key Metrics Changes - Trading volume in HSDC has significantly outperformed the average of peer DATs, indicating growing awareness of Solana's fundamentals [10] - The company has been actively engaging with the Asian market, which is seen as a significant under-penetrated area with high potential for Solana [9] Company Strategy and Development Direction - The company aims to build the "Berkshire Hathaway of the Solana ecosystem," focusing on compounding shareholder value and maintaining a strong balance sheet [11] - The digital asset treasury strategy is centered around three pillars: advocacy, capital markets, and treasury management [5][6] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that the digital asset treasury market has cooled after a period of rapid expansion, entering an execution and consolidation phase [14] - The company believes it has the necessary ingredients for long-term success, including balance sheet strength and institutional sponsorship [15] Other Important Information - The company successfully raised over $500 million to fund its digital asset treasury strategy in September [4] - The PoNS device submission for FDA 510(k) designation has been filed, reflecting positive clinical outcomes from the stroke registration program [22][23] Q&A Session Summary - No questions were raised during the Q&A session, and the call concluded with closing remarks from management [29][30]

Financial Data and Key Metrics Changes - The third quarter revenue was $697,000, which included first-time staking rewards income of $342,000, marking a significant increase from the prior year period [25] - Cost of revenue decreased to $103,000 from $187,000 in the prior year, primarily due to reduced inventory reserve and production scrap expenses [25] - Total operating expenses for the third quarter were $36 million, compared to $3.9 million in the third quarter of 2024, resulting in a loss from operations of $35.4 million, up from a loss of $4.1 million in the prior year [26] - The net loss for the third quarter was $352.8 million, or a loss of $32.89 per share, compared to a net loss of $3.7 million in the prior year [27][28] Business Line Data and Key Metrics Changes - The company has increased its holdings of SOL by approximately 100,000 tokens in the first month of operation, totaling over 2.3 million tokens [15] - The average gross staking yield for October was 7.03% APY, outperforming the stake-weighted average of the top 10 largest validators [16] Market Data and Key Metrics Changes - Trading volume in HSDC has significantly outperformed the average of peer DATs, indicating growing awareness of Solana's fundamentals [10] - The company has been actively engaging with institutional investors and media, enhancing its visibility in traditional financial markets [8][9] Company Strategy and Development Direction - The company aims to build the "Berkshire Hathaway of the Solana ecosystem," focusing on maximizing shareholder value through disciplined execution of its digital asset treasury strategy [11] - The three pillars of execution include advocacy, capital markets, and treasury management, with a strong emphasis on promoting Solana as a compelling asset [6][10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the digital asset treasury market has cooled after a period of rapid expansion, entering an execution and consolidation phase [13][14] - The company believes it has the necessary ingredients for long-term success, including balance sheet strength and institutional sponsorship [15] Other Important Information - The company successfully raised over $500 million to fund its digital asset treasury strategy in September [4] - The PONS device has shown positive clinical outcomes, supporting its submission for FDA 510(k) designation [22][23] Q&A Session Summary - No questions were raised during the Q&A session, indicating a lack of immediate inquiries from investors [29]

Financial Data and Key Metrics Changes - The third quarter revenue was $697,000, which included first-time staking rewards income of $342,000, marking a significant increase from the prior year period [25] - Cost of revenue decreased to $103,000 from $187,000 in the prior year, primarily due to reduced inventory reserve and production scrap expenses [25] - Total operating expenses for Q3 2025 were $36 million, compared to $3.9 million in Q3 2024, resulting in a loss from operations of $35.4 million, up from a loss of $4.1 million in the prior year [26] - The net loss for Q3 2025 was $352.8 million, or a loss of $32.89 per share, compared to a net loss of $3.7 million in the prior year [27][28] Business Line Data and Key Metrics Changes - The company has increased its holdings of SOL by approximately 100,000 tokens in the first month of operation, totaling over 2.3 million tokens [15] - The average gross staking yield for October was 7.03% APY, outperforming the stake-weighted average of the top 10 largest validators [16] Market Data and Key Metrics Changes - Trading volume in HSDC has significantly outperformed the average of peer DATs, indicating growing awareness of Solana's fundamentals [10] - The company has been actively engaging with institutional investors and has appeared in major media outlets, enhancing its visibility in the market [8] Company Strategy and Development Direction - The company aims to build the "Berkshire Hathaway of the Solana ecosystem," focusing on maximizing shareholder value through disciplined execution of its digital asset treasury strategy [11] - The strategic focus includes advocacy for Solana, capital markets management, and treasury management, with an emphasis on operational excellence and capital discipline [14][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a cooling digital asset treasury market but expressed confidence in the company's ability to navigate the execution and consolidation phase [12][14] - The company believes it has the necessary ingredients for long-term success, including balance sheet strength and institutional sponsorship [15] Other Important Information - The company successfully raised over $500 million to fund its digital asset treasury strategy in September 2025 [4] - The PONS device has shown positive clinical outcomes, supporting its submission for FDA 510(k) designation [22] Q&A Session Summary - No questions were raised during the Q&A session, indicating a lack of immediate inquiries from investors [30]

Digital Asset Strategy - The Company has implemented a digital asset treasury strategy to acquire Solana tokens (SOL), which will serve as its primary treasury reserve asset, leveraging Solana's ~7% native staking yield[107]. - The Company plans to build an initial SOL position and significantly scale holdings over the next 12–24 months through a best-in-class capital markets program[114]. - The Company aims to evaluate staking, lending, and other opportunities within the Solana ecosystem to generate revenue from its SOL treasury[114]. - The Company’s investing activities were focused on executing its digital asset treasury strategy through the purchase of SOL[188]. Financial Position and Compliance - As of September 30, 2025, Marvel Operations Corp. has no outstanding loans under the Master Loan Agreement, indicating a strong financial position[112]. - The Nasdaq notified the Company of non-compliance with the minimum bid price requirement, providing a 180-day period to regain compliance[120]. - The Company received a notice from Nasdaq on March 31, 2025, indicating non-compliance with the minimum stockholders' equity requirement, as stockholders' equity fell below $2.5 million[123]. - Nasdaq granted the Company an extension until June 30, 2025, to regain compliance with both the Minimum Bid Price Requirement and the Stockholders' Equity Requirement[124]. - The Company regained compliance with the Minimum Bid Price Requirement following a reverse stock split in May 2025[125]. - The Company regained compliance with the Stockholders' Equity Requirement after completing a 2025 Offering, and is now compliant with all Nasdaq listing criteria[126]. Revenue and Expenses - Total revenue for Q3 2025 was $697 thousand, a significant increase of $646 thousand compared to $51 thousand in Q3 2024[152]. - Staking rewards income contributed $342 thousand in Q3 2025, compared to no income in Q3 2024[152]. - Gross profit for Q3 2025 was $594 thousand, a turnaround from a gross loss of $136 thousand in Q3 2024[155]. - Total operating expenses in Q3 2025 were $36,044 thousand, an increase of $32,110 thousand from $3,934 thousand in Q3 2024[152]. - Net loss for Q3 2025 was $352,768 thousand, compared to a net loss of $3,686 thousand in Q3 2024, reflecting a deterioration of $349,082 thousand[152]. - Selling, general and administrative expenses for Q3 2025 increased to $4,646 thousand, up from $2,857 thousand in Q3 2024, primarily due to a $1.5 million discretionary bonus[157]. Cash Flow and Financing Activities - Cash and cash equivalents as of September 30, 2025, were $124,051 thousand, up from $1,088 thousand as of December 31, 2024[178]. - The company raised $374.9 million in net proceeds from the 2025 PIPE Offerings, which alleviated concerns about its ability to continue as a going concern[179]. - The Company provided $400,682 thousand in net cash from financing activities during the nine months ended September 30, 2025, an increase of $393,728 thousand compared to the prior year[186]. - The Company generated $374.9 million in net proceeds from the September 2025 PIPE Offerings by issuing shares of Common Stock[189]. - The Company repaid promissory notes totaling $1.56 million during the nine months ended September 30, 2025[189]. Product Developments and Approvals - The Portable Neuromodulation Stimulator (PoNS) device has received marketing clearance in the U.S. for treating gait deficits due to mild-to-moderate symptoms of multiple sclerosis, with commercial sales commencing in April 2022[105]. - The PoNS device is authorized for sale in Canada for three indications, including treatment for chronic balance deficits due to traumatic brain injury[105]. - The PoNS Controller received a final Medicare payment rate of $532.27, while the PoNS Mouthpiece was set at $2,963.30 effective January 1, 2025[133]. - The Company announced its first reimbursement payment from Anthem Blue Cross Blue Shield for the PoNS Device on March 11, 2025, followed by approvals from United Healthcare and Aetna Healthcare[134]. - The Company partnered with Lovell Government Services to make the PoNS device available to federal healthcare systems, with prices set at $23,843.72 for the PoNS device and $7,344.97 for the mouthpiece[136]. - The Company established Revelation Neuro, Inc. to develop a new AI-powered brain-computer interface for personalized neurorehabilitation[140]. - The Stroke Registrational Program enrolled 159 patients across three studies, demonstrating significant improvements in gait deficits due to stroke[146]. - The Company filed an FDA 510(k) submission for the PoNS device label expansion seeking an indication for gait and balance deficit in chronic stroke patients[148]. Asset Valuation and Losses - Unrealized loss on digital assets for Q3 2025 was $30,540 thousand, reflecting the decline in value of SOL[159]. - The company recognized a change in fair value of derivative liability of $423,313 thousand in Q3 2025, primarily due to a decrease in stock price[163]. - For the nine months ended September 30, 2025, net cash used in operating activities was $(10,337) thousand, an increase of $(1,674) thousand compared to the same period in 2024[186]. - Net cash used in investing activities for the same period was $(267,383) thousand, a significant increase of $(267,378) thousand compared to 2024, primarily due to the purchase of SOL[186][188].