Exhibit 99.1 CareCloud Reports Third Quarter 2025 Results Raises Revenue Guidance, Completes Medsphere Acquisition and Accelerates AI Initiative SOMERSET, N.J. November 06, 2025 (GLOBE NEWSWIRE) - CareCloud, Inc. (Nasdaq: CCLD, CCLDO), a leader in healthcare technology and generative AI solutions, today announced strong financial results for the quarter ended September 30, 2025, and is increasing its full-year 2025 revenue guidance to $117 – $119 million, up from the initial range of $111 – $114 million. Ca ...

Recent Strategic Updates Exhibit 99.1 CareCloud Reports Third Quarter 2025 Results Raises Revenue Guidance, Completes Medsphere Acquisition and Accelerates AI Initiative SOMERSET, N.J. November 06, 2025 (GLOBE NEWSWIRE) - CareCloud, Inc. (Nasdaq: CCLD, CCLDO), a leader in healthcare technology and generative AI solutions, today announced strong financial results for the quarter ended September 30, 2025, and is increasing its full-year 2025 revenue guidance to $117 – $119 million, up from the initial range o ...

Exhibit 99.1 CareCloud Reports Third Quarter 2025 Results Raises Revenue Guidance, Completes Medsphere Acquisition and Accelerates AI Initiative SOMERSET, N.J. November 06, 2025 (GLOBE NEWSWIRE) - CareCloud, Inc. (Nasdaq: CCLD, CCLDO), a leader in healthcare technology and generative AI solutions, today announced strong financial results for the quarter ended September 30, 2025, and is increasing its full-year 2025 revenue guidance to $117 – $119 million, up from the initial range of $111 – $114 million. Ca ...

Revenue and Financial Performance - Tripadvisor Group's revenue and Adjusted EBITDA are increasingly shifting towards marketplace businesses, with Viator and TheFork segments representing approximately 60% of consolidated revenue and 30% of total segment Adjusted EBITDA as of September 30, 2025[163]. - The Company reported revenue of $552.5 million for the three months ended September 30, 2025, representing a 4% increase compared to $531.7 million in the same period of 2024[181]. - Operating income for the three months ended September 30, 2025, was $70.4 million, a slight increase of 1% from $69.6 million in the prior year[181]. - Net income for the three months ended September 30, 2025, was $53.2 million, a significant increase of 38% compared to $38.5 million in the same period of 2024[181]. - Adjusted EBITDA for the three months ended September 30, 2025, was $122.5 million, slightly up from $122.4 million in 2024[234]. Segment Performance - The Brand Tripadvisor segment experienced a revenue decrease of approximately $21 million (8%) for the three months ended September 30, 2025, compared to the same period in 2024[184]. - Adjusted EBITDA for the Brand Tripadvisor segment decreased by approximately $27 million (32%) during the three months ended September 30, 2025, compared to the same period in 2024[185]. - Viator segment revenue increased by approximately $25 million (9.3%) and $66 million (10.1%) during the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024[198]. - TheFork segment revenue increased by approximately $14 million (28%) and $31 million (23%) during the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024[202]. - Adjusted EBITDA in the Viator segment improved by approximately $19 million (63%) and $52 million (406%) during the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024[199]. - Adjusted EBITDA in TheFork segment improved by approximately $8 million (151%) and $14 million (276%) during the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024[203]. Cost and Expense Management - The Company’s total costs and expenses for the three months ended September 30, 2025, were $482.1 million, a 4% increase from $462.1 million in the prior year[181]. - Marketing expenses increased by 8% to $227.2 million for the three months ended September 30, 2025, compared to $210.8 million in the same period of 2024[181]. - General and administrative expenses decreased by approximately $3 million (15%) for the three months ended September 30, 2025, and by $23 million (32%) for the nine months ended September 30, 2025, mainly due to reduced real estate expenses and prior year accruals[215]. - Personnel expenses remained relatively stable at $147.2 million for the three months ended September 30, 2025, with a slight increase of 0% compared to 2024, while decreased by approximately $9 million (2%) for the nine months ended September 30, 2025[210]. - Technology expenses increased by approximately $2 million (10%) for the three months ended September 30, 2025, and by $6 million (9%) for the nine months ended September 30, 2025, primarily due to increased data center and licensing costs[213]. Strategic Actions and Restructuring - The company anticipates at least $85 million in annualized gross cost savings from restructuring actions, primarily expected to be realized in 2026 and fully realized by 2027[165]. - The merger with Liberty TripAdvisor closed on April 29, 2025, with an aggregate transaction price of $437 million, including $431 million in cash and common stock consideration[168]. - The retirement of approximately 53.1 million shares of common stock, valued at approximately $1.3 billion, was approved by the Board of Directors on April 29, 2025[171]. - The company plans to reorganize its operating segments into Experiences, Hotels & Other, and TheFork, with no expected impact on TheFork segment[166]. - Tripadvisor Group's strategy includes pursuing strategic acquisitions to accelerate growth in addition to organic investments in data, products, marketing, and technology[158]. Cash Flow and Debt Management - As of September 30, 2025, the company had approximately $1.2 billion in cash and cash equivalents, an increase from $1.1 billion as of December 31, 2024[238]. - The Company had an aggregate outstanding principal amount of $353 million in short-term debt and approximately $821 million in long-term debt[241]. - The Company issued a $500 million Term Loan B Facility on July 8, 2024, with an interest rate of SOFR plus 2.75%, maturing on July 8, 2031[243]. - Net cash provided by operating activities for the nine months ended September 30, 2025, was $348 million, an increase of $201 million compared to the same period in 2024[251]. - The Company authorized a share repurchase program of $250 million on September 7, 2023, with $160 million remaining available as of September 30, 2025[245]. Market Trends and Risks - Ongoing market trends indicate a shift towards online bookings for experiences and dining, presenting growth opportunities for Tripadvisor Group in both the experiences and restaurant categories[162]. - The company is exposed to market risks primarily due to international operations and changes in economic conditions across significant markets[264]. - The company's exposure to foreign currency exchange rate movements is expected to increase as international business grows, influenced by geopolitical events and macroeconomic factors[266]. - Continued uncertainty regarding international operations may lead to future currency exchange rate volatility, impacting business results[266]. - The company continues to monitor the OECD's discussions regarding the global tax regulatory landscape, which may impact future financial results[261].

Financial Performance - Record quarterly revenue of $260.5 million, up 9.3% year-over-year, driven by 7.6% organic growth[1] - Net income of $47.2 million, or $1.01 per diluted share, marking the second most profitable quarter in the company's history[1] - Adjusted EBITDA of $79.1 million, representing 30.4% of total revenues[1] - Total operating revenues for the three months ended September 30, 2025, increased by 9.3% to $260,479,000 compared to $238,327,000 in the same period of 2024[24] - Gross profit for the nine months ended September 30, 2025, rose to $323,180,000, up from $273,470,000 in 2024, reflecting a significant increase of 18.2%[24] - Net income for the nine months ended September 30, 2025, was $133,460,000, representing a 16.8% increase from $114,293,000 in the same period of 2024[24] - The company’s total revenues for the nine months ended September 30, 2025, were $738,313 million, representing a 13.5% increase from $650,608 million in the same period of 2024[30] Guidance and Future Outlook - Full year 2025 revenue guidance updated to a range of $970 million to $990 million, reflecting approximately 10% growth at the midpoint[14] - Backlog expanded 21.4% year-over-year to a record $1.3 billion, providing strong visibility into future revenues[1] Expenses and Costs - SG&A expenses increased to $47.3 million, or 18.2% of total revenues, partly due to $3.1 million in aluminum tariffs[5] - The company incurred non-recurring expenses of $1,383 million for the three months ended September 30, 2025, slightly down from $1,449 million in the same period of 2024[33] - Interest expense and deferred cost of financing for the three months ended September 30, 2025, was $1,686 million, a slight decrease from $1,742 million in the same period of 2024[33] Cash Flow and Liquidity - Total liquidity of approximately $550 million, including $124 million in cash and cash equivalents[12] - Cash provided by operating activities for the nine months ended September 30, 2025, was $104,746,000, slightly down from $109,406,000 in 2024[26] - Free cash flow for the three months ended September 30, 2025, was $21,231 million, up from $17,774 million in the same period of 2024[37] - Cash and cash equivalents at the end of the period were $123,991,000, down from $134,882,000 at the beginning of the period, a decrease of 8.8%[26] Shareholder Returns - Company repurchased $30 million in shares and paid $7 million in dividends during the quarter[10] - Expansion of share repurchase program to $150 million, reflecting confidence in cash flow generation and balance sheet management[11] Assets and Liabilities - Total assets increased to $1,228,077,000 as of September 30, 2025, compared to $1,016,648,000 at the end of 2024, marking a growth of 20.8%[22] - Total liabilities rose to $464,110,000 as of September 30, 2025, up from $385,465,000 at the end of 2024, indicating an increase of 20.5%[22] Inventory and Revenue Sources - Inventories increased to $194,404,000 as of September 30, 2025, from $139,642,000 at the end of 2024, reflecting a rise of 39.2%[22] - The company reported a 12.8% increase in revenues from the United States for the nine months ended September 30, 2025, totaling $701,189,000 compared to $621,897,000 in 2024[28] Earnings Per Share - The company’s basic income per share for the nine months ended September 30, 2025, was $2.84, compared to $2.43 in the same period of 2024, an increase of 16.9%[24] - Basic income per share for the three months ended September 30, 2025, was $1.01, compared to $1.05 in the same period of 2024[33] Foreign Currency and Other Losses - The company reported a foreign currency transaction loss of $1,865 million for the three months ended September 30, 2025, compared to a loss of $870 million in the same period of 2024[33]

Financial Performance - For the three months ended September 30, 2025, sales increased approximately 21.0% to approximately $24.4 million, compared to $20.2 million for the same period in fiscal year 2024[87] - Net income for the three months ended September 30, 2025, totaled approximately $3.4 million, compared to $2.4 million for the same period last year[90] - For Q3 2025, net income was approximately $3.4 million ($0.93 per basic share), a 41.7% increase from $2.4 million ($0.67 per basic share) in Q3 2024[98] - Net sales for Q3 2025 increased by 21.0% to approximately $24.4 million, compared to approximately $20.2 million in Q3 2024[102] - Operating income for Q3 2025 was approximately $4.8 million (19.8% of sales), an increase from $2.6 million (12.9% of sales) in Q3 2024[114] - For the first nine months of 2025, net income was approximately $9.3 million, a 97.87% increase compared to $4.7 million for the same period in fiscal year 2024[123] Profitability Metrics - Gross profit margins for the three months ended September 30, 2025, were 49.9%, up from 38.8% for the same period in fiscal year 2024, reflecting price increases and cost reduction initiatives[87] - Gross profit margin for Q3 2025 was approximately 49.9%, up from 38.8% in Q3 2024, reflecting improved product sales mix and material cost reductions[106] Customer Demand and Orders - Customer demand and new orders for products were $34.3 million during the three months ended September 30, 2025, compared to $21.8 million for the same period in fiscal year 2024[95] - Customer demand and new orders for the nine months ended September 30, 2025, totaled $69.3 million, compared to $72.4 million for the same period in fiscal year 2024[95] Expenses - Selling, general, and administrative expenses for the three months ended September 30, 2025, totaled approximately $7.3 million, or 30.1% of sales, compared to $5.2 million, or 25.9% of sales in the same period of fiscal year 2024[87] - Selling, general and administrative (SG&A) expenses for Q3 2025 totaled approximately $7.3 million (30.1% of sales), compared to $5.2 million (25.9% of sales) in Q3 2024[110] - Engineering and product development expenses for Q3 2025 were approximately $2.8 million (11.4% of sales), compared to $1.9 million (9.2% of sales) in Q3 2024[111] Working Capital and Cash Flow - Working capital as of September 30, 2025, was approximately $33.8 million, compared to $23.0 million at the end of fiscal year 2024[91] - Cash provided by operating activities for the nine months ended September 30, 2025, was approximately $16.4 million, compared to $9.0 million for the same period in 2024[122] - As of September 30, 2025, working capital totaled approximately $33.8 million, up from $23.0 million as of December 31, 2024[99] - The cash and cash equivalents balance on September 30, 2025, was approximately $21.5 million, sufficient to meet working capital requirements for the foreseeable future[126] Inventory and Receivables - Accounts receivable increased by approximately $0.2 million, compared to an increase of approximately $1.6 million for the same period in fiscal year 2024[123] - Inventories increased by approximately $1.8 million during the nine months ended September 30, 2025, contrasting with a decrease of approximately $5.3 million for the same period in fiscal year 2024[123] - Accounts payable increased by approximately $4.5 million, compared to a decrease of approximately $3.9 million for the same period in fiscal year 2024[123] Investment and Financing Activities - Cash used in investing activities totaled approximately $2.4 million for the nine months ended September 30, 2025, compared to approximately $1.6 million for the same period in fiscal year 2024[124] - Cash provided by financing activities was approximately $0.4 million, compared to cash used of approximately $6.6 million for the same period in fiscal year 2024[125] Debt and Credit Facilities - The Fifth Third Revolving Loan Commitment provides a maximum credit line of $6 million, with potential additional borrowing capacity of up to $8 million, maturing on October 30, 2028[127] - BK Technologies, Inc. must comply with a maximum total funded debt ratio of 2.00 to 1.00 and a fixed charge coverage ratio of 1.2 to 1.0[128] Product Development and Market Expansion - The Solutions product group plans to expand its offerings under the new brand BK ONE, which includes SaaS solutions and other applications[84] - The BKR series radios and related accessories were the primary contributors to sales growth in Q3 2025[103] - The company anticipates that the BKR Series products will expand its addressable market among public safety customers, although order timing may be unpredictable[104] Investment Performance - There were no realized or unrealized losses on investments for the nine months ended September 30, 2025, compared to approximately $0.1 million for the same period in fiscal year 2024[123]

Financial Performance - Revenues for Q3 2025 were $915 million, a decline of 2.6% compared to $939 million in Q3 2024[3] - Net income for the quarter was $21 million, a significant improvement from a net loss of $37 million in the prior year[3] - Adjusted EBITDA decreased by 1.4% to $100 million, with an adjusted EBITDA margin of 10.9%[5] - Revenues for Q3 2025 were $915,012,000, a decrease of 2.7% compared to $939,270,000 in Q3 2024[35] - Operating income from continuing operations was $40,160,000, compared to a loss of $3,177,000 in Q3 2024[35] - Net income from continuing operations was $20,565,000, compared to a loss of $37,320,000 in the same quarter last year[35] - Adjusted EBITDA from Continuing Operations was not explicitly stated but is a key performance metric for evaluating operational performance[33] - Adjusted EBITDA from continuing operations for the nine months ended September 30, 2025, was $244,142 thousand, down 6.6% from $261,458 thousand in 2024[43] - The company reported a net loss of $244,049 for the twelve months ended September 30, 2025, with LTM Adjusted EBITDA from Continuing and Discontinued Operations at $338,698[58] Revenue Segments - Experiential Services revenue grew by 10.2% year-over-year to $377.7 million, while Branded Services revenue fell by 12.8% to $288.8 million[8] - The Branded Services segment reported an operating income of $8,196 thousand for the three months ended September 30, 2025, compared to a loss of $12,210 thousand in 2024[46] - The Experiential Services segment achieved an operating income of $20,912 thousand for the three months ended September 30, 2025, a significant increase from $587 thousand in 2024[46] Cash Flow and Liquidity - The company generated $98 million in adjusted unlevered free cash flow, ending the quarter with a cash position of $201 million[2] - Cash provided by operating activities for the nine months ended September 30, 2025, was $15,902 thousand, compared to $78,009 thousand in 2024, indicating a decrease of 79.6%[41] - Cash provided by operating activities from continuing operations for the three months ended September 30, 2025, is $63,631[49] - Cash payments for interest during the same period amounted to $26,185, while cash payments for income taxes were $2,750[49] - Cash and cash equivalents were $201,137,000 as of September 30, 2025, slightly down from $205,233,000 at the end of 2024[38] - Cash, cash equivalents, and restricted cash at the end of the period were $213,248 thousand, slightly up from $212,469 thousand at the end of the same period in 2024[41] Debt and Financial Position - The net leverage ratio stands at 4.4x, with gross debt approximately $1.691 billion[14] - Total Net Debt as of September 30, 2025, is $1,474,271, with a Net Debt to LTM Adjusted EBITDA ratio of 4.4x[49] - The total debt as of September 30, 2025, is $1,675,408, after accounting for debt issuance costs of $15,737[49] - Net debt was not explicitly stated but is calculated as total debt minus cash and cash equivalents, providing insight into the company's financial condition[33] Cost Management - Selling, general, and administrative expenses decreased to $57,568,000 from $98,438,000 in Q3 2024, indicating improved cost management[35] - The company incurred stock-based compensation expenses of $20,483 thousand for the nine months ended September 30, 2025, down from $24,224 thousand in 2024[43] - The company incurred restructuring expenses of $6,864 and reorganization expenses of $53,265 over the twelve months ended September 30, 2025[58] Future Outlook - The outlook for 2025 projects revenues to decline in low-single digits and adjusted EBITDA to decrease in mid-single digits[16] - The company reaffirmed its revenue guidance but modestly lowered its adjusted EBITDA outlook due to divestiture impacts and macroeconomic challenges[7] - Strong demand in high-volume labor businesses contributed to improved margins despite ongoing macro headwinds in Branded Services[5] Asset Management - Total assets decreased to $2,993,522,000 as of September 30, 2025, from $3,106,517,000 at the end of 2024[38] - The accumulated deficit increased to $(2,707,617,000) from $(2,641,612,000) at the end of 2024, reflecting ongoing financial challenges[38] - The company recorded a gain on divestiture of $8,472 thousand for the nine months ended September 30, 2025[43] - The company reported gains and losses on disposal of assets related to divestitures, totaling $8,472 for the twelve months ended September 30, 2025[58] - The company has ongoing costs associated with the Take 5 Matter, amounting to $1,749 for the twelve months ended September 30, 2025[58]

Exhibit 99.1 Neumora Therapeutics Reports Third Quarter 2025 Financial Results and Provides Business Update Announced class-leading data from diet-induced obesity (DIO) mouse model with NMRA-215, a potentially best-in- class, highly brain-penetrant, oral NLRP3 inhibitor, and expect to initiate Phase 1 study in first quarter of 2026 Advancing Phase 1 studies with two potentially best-in-class positive allosteric modulators (PAMs), NMRA-861 and NMRA-898, with comprehensive franchise update expected by mid-202 ...

Subscriber Metrics - End of Period Subscribers reached 3.0 million, including 124 thousand Clinical Subscribers[1] - The number of incoming behavioral subscribers for the three months ended September 30, 2025, was 3,040, a decrease of 19.0% from 3,756 in the prior year[43] - The end of period behavioral subscribers decreased by 20.2% to 2,862 as of September 30, 2025, compared to 3,589 in the same period last year[43] Revenue Performance - Total Revenues amounted to $172 million, with Clinical Subscription Revenues of $26 million, reflecting a 35% year-over-year increase[1][4] - Total revenues for Q3 2025 were $172.09 million, down 10.8% from $192.89 million in Q3 2024[25] - Total revenues for the three months ended September 30, 2025, were $172,091, a decrease of 10.8% compared to $192,887 for the same period in 2024[35] - Total revenues for the nine months ended September 30, 2025, were $547,826, reflecting an 8.9% decline from $601,508 in the prior year[39] Clinical and Behavioral Revenue - Clinical Subscription Revenue growth was strong at 35.3% year-over-year, with better-than-expected retention of members prescribed compounded semaglutide[4] - Behavioral subscription revenues for the three months ended September 30, 2025, were $145,152, down 15.7% from $172,194 in the prior year[35] - Behavioral subscription revenues for the nine months ended September 30, 2025, were $458,133, down 14.8% from $537,731 in the previous year[39] Profitability and Loss - Net Loss was $58 million, resulting in a Net Loss Margin of 33.4%; Adjusted EBITDA was $43 million with a margin of 24.9%[1][4] - Net loss for Q3 2025 was $57.52 million, compared to a net loss of $46.19 million in Q3 2024[25] - The company reported a net loss of $57,516 for the three months ended September 30, 2025, compared to a net loss of $56,262 for the previous period, reflecting a margin of (33.4%) versus (30.5%) in the prior period[58] Cash and Debt Management - Total debt was reduced by over 70% to approximately $1.1 billion, while Cash increased to $170 million from $152 million at the end of Q2[4] - Cash and cash equivalents increased to $170.15 million as of September 30, 2025, up from $53.02 million as of December 28, 2024[23] - Cash provided by operating activities for the period was $8,418, a significant improvement from cash used of $(34,423) in the previous period[33] Strategic Initiatives and Leadership - The company launched key initiatives, including a new Menopause program, and made strong progress in brand, digital, and clinical innovation[4] - The company added senior leaders across technology, experience, and international to enhance the executive team and accelerate execution[4] - The company is focusing on strategic initiatives to enhance its service offerings and expand into new distribution channels[20] Guidance and Future Outlook - The company narrowed its 2025 Guidance for Revenues to $695 - $700 million and Adjusted EBITDA to $145 - $150 million[4][9] - The company plans to continue its restructuring efforts as part of its strategic realignment[55] Financial Adjustments and Charges - The company incurred total adjustments of $5,158 for the three months ended September 30, 2025, primarily due to restructuring charges and transaction costs[50] - The company reported a restructuring charge of $23,000 for the three months ended September 30, 2025[54] - Restructuring charges amounted to $122, reflecting expenses associated with headcount reduction due to strategic realignments[61] Asset and Liability Management - Total assets as of September 30, 2025, were $968.75 million, an increase from $550.28 million as of December 28, 2024[23] - Total liabilities decreased to $645.76 million as of September 30, 2025, down from $1.66 billion as of December 28, 2024[23] Operating Performance - Operating income for Q3 2025 was $8.04 million, a significant improvement from an operating loss of $39.05 million in Q3 2024[25] - EBITDA for the three months ended September 30, 2025, was $33,186, with an EBITDA margin of 19.3%, slightly down from $36,521 and 19.8% in the previous period[58] - Adjusted EBITDA for the same period was $42,776, with an adjusted EBITDA margin of 24.9%, compared to $47,225 and 25.6% in the prior period[58]

Financial Performance - Collaboration revenue for Q3 2025 was $12.8 million, up from $9.2 million in Q3 2024, representing a 39% increase[120] - The net loss for Q3 2025 was $27.1 million, compared to a net loss of $23.9 million in Q3 2024, indicating a 13% increase in losses[120] - Net income for the nine months ended September 30, 2025, was $7.5 million, a significant improvement from a net loss of $86.1 million in the same period of 2024, representing a dollar change of $93.6 million[129] - Collaboration revenue increased significantly to $120.9 million for the nine months ended September 30, 2025, compared to $15.0 million in the same period of 2024, representing a dollar change of $105.9 million[129][130] Expenses - Research and development expenses for Q3 2025 totaled $36.7 million, an increase of $9.1 million or 33% compared to $27.6 million in Q3 2024[120] - General and administrative expenses rose to $9.1 million in Q3 2025, compared to $8.1 million in Q3 2024, reflecting a 12% increase[120] - Research and development expenses rose to $99.5 million for the nine months ended September 30, 2025, compared to $82.7 million in 2024, an increase of $16.8 million[131] - Total operating expenses for the nine months ended September 30, 2025, were $125.4 million, up from $109.1 million in 2024, reflecting an increase of $16.3 million[129] Cash and Financing - As of September 30, 2025, the accumulated deficit stood at $431.1 million, with cash and cash equivalents totaling $396.2 million[110] - As of September 30, 2025, the company had $396.2 million in cash, cash equivalents, restricted cash, and marketable securities, including a $120.0 million non-refundable upfront payment from Novartis[136] - Cash provided by operating activities was $20.2 million for the nine months ended September 30, 2025, compared to a cash used of $86.9 million in the same period of 2024[141][142] - The company expects to continue incurring losses and plans to finance its cash needs through equity offerings, debt financings, and potential collaborations[147] - The company requires additional financing to advance current product candidates through clinical development and fund operations for the foreseeable future[149] Collaboration and Development - The company received a non-refundable upfront payment of $120.0 million from Novartis in September 2025 as part of a collaboration agreement[110] - The collaboration with Novartis includes the use of the proprietary AI/ML-enabled QuEEN™ product engine for drug discovery and development[109] - The company is entitled to receive up to $60.0 million in payments to maintain options and up to $5.4 billion in clinical development, regulatory, and sales milestones related to the First Licensed Program and two Optioned I&I Programs[158] - The potential development and regulatory milestone payments could reach up to $2.2 billion if regulatory approval is achieved for multiple indications in multiple territories[158] - The company will be responsible for research costs, while Novartis will handle development and commercialization costs[158] Research and Development - The Phase 1 study for MRT-8102 began in July 2025, with initial results expected in the first half of 2026[108] - Research and development expenses included $2.5 million in non-cash stock-based compensation for Q3 2025, slightly down from $2.6 million in Q3 2024[123] - The company had 116 employees engaged in research and development as of September 30, 2025, up from 105 in the previous year[122] Regulatory and Accounting - The company has no credit facility or committed sources of capital, which may impact its ability to pursue business plans[151] - The company may need to delay, reduce, or terminate planned activities if it fails to raise capital as needed[150] - The company is classified as a smaller reporting company, with a market value of stock held by non-affiliates below $700 million and annual revenue under $100 million[162] - The company has not experienced significant changes to its critical accounting policies from the previous year[153] - The company has opted to take advantage of the extended transition period for adopting new accounting standards as an emerging growth company[160]