Product Development - Capricor Therapeutics is focused on developing deramiocel for treating Duchenne muscular dystrophy (DMD), a significant market opportunity due to the lack of approved treatments [147][150]. - The company completed a Biologics License Application (BLA) submission in December 2024, with the FDA granting Priority Review and a target action date of August 31, 2025 [151]. - Clinical trials for deramiocel have shown promising results, with the Phase II trial HOPE-2 meeting its primary efficacy endpoint (p=0.01) and demonstrating improvements in cardiac function (p=0.002) [152]. - The ongoing Phase 3 trial (HOPE-3) has enrolled approximately 105 subjects, with a positive futility analysis outcome allowing the trial to continue as planned [154]. - Capricor is developing an exosome-based platform technology for various therapeutic applications, including a recombinant protein-based vaccine for COVID-19 [158]. Financial Performance - The company reported net losses of $24.4 million for the three months ended March 31, 2025, and an accumulated deficit of $224.2 million [160]. - Clinical development income for Q1 2025 was $0, compared to approximately $4.9 million in Q1 2024, with a total of $50.0 million in milestone payments recognized from Nippon Shinyaku [164]. - Total research and development (R&D) expenses for Q1 2025 were $18.9 million, a 70% increase from $11.1 million in Q1 2024, driven by significant increases in personnel and program-related expenses [166]. - General and administrative (G&A) expenses for Q1 2025 totaled $6.1 million, a 49% increase from $4.1 million in Q1 2024, primarily due to increased headcount and stock-based compensation [170]. - The company expects to spend approximately $40.0 million to $50.0 million in 2025 on the deramiocel program, focusing on CMC expansion and pre-commercial expenses [173]. Cash and Securities - As of March 31, 2025, Capricor had cash, cash equivalents, and marketable securities totaling approximately $144.8 million, following a $10 million milestone payment received in January 2025 [159]. - Cash and cash equivalents as of March 31, 2025, were $28.8 million, up from $11.3 million as of December 31, 2024 [179]. - Marketable securities decreased to $116.0 million as of March 31, 2025, from $140.2 million as of December 31, 2024 [179]. - As of March 31, 2025, the fair value of the company's cash, cash equivalents, and marketable securities was approximately $144.8 million [227]. Funding and Partnerships - The company is exploring partnerships for the development of its product candidates in the U.S. and other territories, while maintaining distribution agreements with Nippon Shinyaku [162]. - The U.S. Distribution Agreement with Nippon Shinyaku includes potential milestone payments totaling $80.0 million upon marketing approval and sales-based milestones of up to $605.0 million [187]. - Capricor received an upfront payment of $12.0 million under the Japan Distribution Agreement and may receive additional milestone payments of up to approximately $89.0 million [190]. - Capricor entered into a Binding Term Sheet with Nippon Shinyaku for the commercialization of deramiocel in Europe, with an upfront payment of $20.0 million and potential milestone payments of up to $715.0 million [191]. - The Company completed an underwritten public offering of 5,073,800 shares at a price of $17.00 per share, generating total gross proceeds of approximately $86.3 million [192]. - In a private placement, Capricor issued 2,798,507 shares at $5.36 per share, raising approximately $15.0 million [193]. - The Company sold an aggregate of 9,228,383 shares under the ATM Program at an average price of approximately $8.13 per share, resulting in gross proceeds of approximately $75.0 million [197]. - Capricor received a CIRM Award of approximately $3.4 million to fund its Phase I/II clinical trial, with a co-funding requirement of approximately $2.3 million [198]. - Capricor notified CIRM of its election to convert the CIRM Award into a loan, which could result in accrued interest of up to approximately $7.1 million [201]. Expense Management - Capricor anticipates significant increases in expenses as it develops deramiocel and other product candidates, necessitating substantial additional funding [161]. - The company anticipates additional non-cash compensation expenses in the future, which may be significant [163]. - Stock-based compensation expense in R&D increased by 177% to $2.7 million in Q1 2025 from $1.0 million in Q1 2024 [166]. - The company has issued stock options and restricted stock awards under its 2020 and 2021 Equity Incentive Plans, with stock-based compensation expense expected to be significant in the future [221][223]. Revenue Recognition - The Company has not achieved commercial sales of its drug candidates to date, but applies ASU 606 for revenue recognition in its distribution agreements [209]. - The revenue standard requires the Company to assess whether a significant financing component exists, which typically does not apply due to upfront payments from customers [213]. - The company recognizes grant income in the period expenses are incurred, with the transaction price varying based on incurred expenses [216]. - Research and development (R&D) expenses primarily consist of salaries, clinical trial costs, and other related expenses, which are expensed as incurred [217]. - The company accrues clinical trial expenses based on estimates of services received and efforts expended, with adjustments made if actual results differ from estimates [224]. - The company’s revenue recognition policy requires significant management judgment in determining the level of effort required under contracts [215].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41668 TRAILBLAZER MERGER CORPORATION I (Exact Name of Registrant as Specified in Its Charter) | Delaware | 87-3710376 | | --- | --- | | (St ...

Financial Position - Total assets increased by $2.8 million, or 0.8%, to $366.2 million at March 31, 2025, from $363.4 million at June 30, 2024[169]. - Total stockholders' equity decreased by $335,000, or 0.5%, to $75.7 million at March 31, 2025[177]. - Cash and cash equivalents increased by $1.3 million, or 4.8%, to $28.3 million at March 31, 2025[170]. - Securities held to maturity decreased by $1.1 million, or 0.7%, to $145.9 million at March 31, 2025[173]. - The allowance for credit losses for loans was $1.5 million, or 0.86% of total loans, at March 31, 2025, compared to $1.6 million, or 0.91% of total loans, at March 31, 2024[199]. Loan and Deposit Activity - Net loans increased by $2.8 million, or 1.6%, to $173.2 million at March 31, 2025, driven by a 33.9% increase in multi-family loans[171]. - Deposits increased by $3.0 million, or 1.1%, to $273.8 million at March 31, 2025, primarily due to a 4.4% increase in certificates of deposit[175]. - The average balance of certificates of deposit increased by $19.0 million to $140.1 million, influenced by a higher interest rate environment[181]. - The average balance of savings deposits decreased by $5.5 million, or 9.5%, to $52.1 million for the three months ended March 31, 2025[181]. - As of March 31, 2025, the company had $1.2 million of commitments to originate loans and $3.7 million of unadvanced funds under home equity lines of credit[231]. Income and Expenses - Interest and dividend income increased by $259,000, or 8.6%, to $3.3 million for the three months ended March 31, 2025[179]. - Net interest income increased by $115,000, or 7.0%, for the three months ended March 31, 2025[178]. - Non-interest income decreased by $7,000, or 4.2%, to $160,000, primarily due to a $4,000 decrease in customer service fees and other income[184]. - Total non-interest expense decreased by $61,000, or 3.2%, to $1.8 million, mainly due to a $79,000 reduction in salaries and employee benefits[185]. - Interest expense increased by $144,000, or 10.5%, to $1.5 million for the three months ended March 31, 2025, primarily due to a rise in the average rate on certificates of deposit to 3.90%[181]. Credit Losses and Provisions - The provision for credit losses increased by $86,000, or 430.0%, for the three months ended March 31, 2025[178]. - The provision for credit losses was recorded at $66,000, with a $97,000 provision for loans reflecting an increase in loan originations, while the allowance for credit losses for loans was $1.5 million, or 0.86% of total loans[183]. - The provision for credit losses recorded a reversal of $84,000 for the nine months ended March 31, 2025, reflecting strong asset quality[199]. Performance Metrics - The net interest rate spread increased by seven basis points to 1.42% for the three months ended March 31, 2025, compared to 1.35% for the same period in 2024[182]. - The net interest margin increased by nine basis points to 2.05% for the three months ended March 31, 2025, compared to 1.96% for the same period in 2024[182]. - The net interest margin for the nine months ended March 31, 2025, was 1.99%, compared to 2.07% for the same period in 2024, reflecting a decline of 8 basis points[206]. - The company reported a net interest rate spread of 1.31% for the nine months ended March 31, 2025, down from 1.52% in 2024, a decrease of 21 basis points[206]. Cash Flow and Financing Activities - Net cash provided by operating activities was $361,000 for the nine months ended March 31, 2025, compared to $96,000 for the same period in 2024, indicating a significant increase[227]. - Net cash used in investing activities was $1.6 million for the nine months ended March 31, 2025, compared to cash provided of $5.8 million for the same period in 2024, showing a decrease in cash inflow from investments[227]. - Net cash provided by financing activities was $2.5 million for the nine months ended March 31, 2025, down from $8.9 million for the same period in 2024, reflecting changes in deposit levels and treasury stock purchases[227]. Regulatory and Economic Considerations - The company exceeded all regulatory capital requirements as of March 31, 2025, indicating a strong capital position[229]. - The company is committed to maintaining a strong liquidity position and anticipates sufficient funds to meet current funding commitments[228]. - The primary impact of inflation on the company's operations is reflected in increased operating costs, with interest rates having a more significant impact on performance than inflation[235]. - The estimated economic value of equity (EVE) as of March 31, 2025, was $55,522,000, with a potential decrease of 20.5% if interest rates increased by 200 basis points[220][221].

Table of Contents FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41593 ISRAEL ACQUISITIONS CORP (Exact Name of Registrant as Specified in Its Charter) | Cayman Islands | 87-3587394 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | inco ...

Table of Contents FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41593 ISRAEL ACQUISITIONS CORP (Exact Name of Registrant as Specified in Its Charter) | Cayman Islands | 87-3587394 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | inco ...

Financial Performance - Citius Pharmaceuticals reported a net loss of $11.5 million, or ($1.27) per share, for the quarter ended March 31, 2025, compared to a net loss of $8.5 million, or ($1.34) per share, for the same quarter in 2024[13]. - The company incurred a net loss of $21.8 million for the six months ended March 31, 2025, compared to a net loss of $17.8 million for the same period in 2024[14]. - The net loss for the six months ended March 31, 2025, was $21,792,751, compared to a net loss of $17,775,339 for the same period in 2024, indicating a 22.5% increase in losses[21]. - The company reported a net loss per share of $(1.27) for the three months ended March 31, 2025, compared to $(1.34) for the same period in 2024[21]. Expenses - Research and Development (R&D) expenses were $3.8 million for the quarter ended March 31, 2025, an increase from $3.6 million for the same quarter in 2024[8]. - R&D expenses related to LYMPHIR increased to $5.3 million for the six months ended March 31, 2025, compared to $3.2 million for the same period in 2024[9]. - General and Administrative (G&A) expenses rose to $4.8 million for the quarter ended March 31, 2025, up from $4.3 million for the same quarter in 2024[11]. - For the three months ended March 31, 2025, the total operating expenses were $11,260,678, an increase from $10,970,201 in the same period of 2024, representing a 2.6% increase[21]. - Research and development expenses for the three months ended March 31, 2025, were $3,766,525, up from $3,605,898 in 2024, reflecting a 4.4% increase[21]. - The company recorded stock-based compensation expense of $5,226,855 for the six months ended March 31, 2025, compared to $6,136,577 in 2024, showing a decrease of 14.8%[24]. Cash and Capital - Citius Pharmaceuticals had $26,410 in cash and cash equivalents as of March 31, 2025, and will need to secure additional capital to support operations beyond May 2025[6]. - Cash and cash equivalents at the end of the period were $26,410, a significant decrease from $12,559,607 at the end of the same period in 2024[24]. - The net cash used in operating activities for the six months ended March 31, 2025, was $(9,265,328), an improvement from $(13,921,321) in 2024, indicating a 33.5% reduction in cash outflow[24]. - The company generated net proceeds from common stock offerings amounting to $6,039,858 during the six months ended March 31, 2025[24]. - The company completed a registered direct offering that generated net proceeds of approximately $1.735 million on April 2, 2025[5]. Assets and Financial Strategy - The total assets of Citius Pharmaceuticals as of March 31, 2025, were $121.48 million, compared to $116.65 million as of September 30, 2024[19]. - The company has retained Jefferies LLC as its exclusive financial advisor to evaluate strategic alternatives aimed at maximizing stockholder value[7]. - Citius Pharmaceuticals plans to continue funding Citius Oncology until adequate capital is raised or revenue is generated from LYMPHIR sales[7]. Other Income and Shares - The total other income for the three months ended March 31, 2025, was $13,413, a decrease from $2,570,047 in the same period of 2024[21]. - The weighted average common shares outstanding for the three months ended March 31, 2025, were 8,581,207, compared to 6,362,890 in 2024, reflecting a 34.8% increase[21].

Exhibit 99.1 Citius Oncology, Inc. Reports Fiscal Second Quarter 2025 Financial Results and Provides Business Update CRANFORD, N.J., May 14, 2025 -- Citius Oncology, Inc. ("Citius Oncology" or the "Company") (Nasdaq: CTOR), a specialty biopharmaceutical company focused on the development and commercialization of novel targeted oncology therapies, today reported business and financial results for the fiscal second quarter ended March 31, 2025. "In Q2 2025, Citius Oncology advanced its transformation from a d ...

Exhibit 99.1 Citius Oncology, Inc. Reports Fiscal Second Quarter 2025 Financial Results and Provides Business Update CRANFORD, N.J., May 14, 2025 -- Citius Oncology, Inc. ("Citius Oncology" or the "Company") (Nasdaq: CTOR), a specialty biopharmaceutical company focused on the development and commercialization of novel targeted oncology therapies, today reported business and financial results for the fiscal second quarter ended March 31, 2025. "In Q2 2025, Citius Oncology advanced its transformation from a d ...

Commission file number: 001-40893 CATALYST BANCORP, INC. (Exact name of registrant as specified in its charter) Louisiana 86-2411762 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (I.R.S. Employer Identification No.) (State or other jurisdiction of incorporation of organization) 235 N. Court Street, Opelousas, Louisiana 70570 (Address of principal executive offices; Zip Code) (337) 948-3033 (Registrant's telephone number, including area code) None (Former ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of registrant as specified in its charter) FORM 10-Q (540) 951-6300 (Registrant's telephone number, including area code) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission ...