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]

Loan Agreement Details - Borrower has requested Lenders to make available up to four tranches of term loans totaling $125 million[33]. - The Loan Agreement was initially made on May 13, 2025, and has been amended by Amendment No. 1 as of November 5, 2025[31][2]. - Each Borrower must execute and deliver the Amendment to Lender for it to become effective[14]. - The Amendment constitutes a legal, valid, and binding obligation of the Borrower[11]. - The Loan Agreement will continue in full force and effect except as expressly amended[13]. - The maximum term loan amount is set at $125 million[98]. - The initial facility charge payable to lenders is $150,000[78]. - The company plans to draw a Term Loan Advance of $15 million on the Closing Date as part of the Tranche 1 Advance[156]. - A subsequent Term Loan Advance of $20 million is scheduled to be drawn on or before the First Amendment Effective Date as part of the Tranche 2 Advance[157]. - The company may request up to $10 million in additional Term Loan Advances under the Tranche 3 Advances, with minimum increments of $5 million[158]. - Borrower may request up to two additional Term Loan Advances in minimum increments of $5,000,000, totaling up to $80,000,000[161]. - The principal balance of each Term Loan Advance will bear interest at a floating Term Loan Interest Rate based on the Prime Rate[164]. - Borrower will pay accrued but unpaid interest on each Term Loan Advance on the first Business Day of each month, starting the month after the Advance Date[165]. - A Prepayment Charge of 3.00% applies if the principal amount is prepaid within 12 months of the First Amendment Effective Date, decreasing to 0.00% thereafter[170]. - An End of Term Charge of 6.25% will be applied to the principal amount of Term Loan Advances upon certain events, including full prepayment[171]. - In the event of a payment default, a default interest of 4% will be charged on the past due amount[168]. - The maximum aggregate outstanding Term Loan Advances shall not exceed the Maximum Term Loan Amount as defined in the agreement[162]. - Borrower must submit an Advance Request at least one Business Day before the Closing Date and five Business Days before each Advance Date[163]. - All payments under the agreement must be made without setoff or deduction, regardless of any counterclaim[166]. Borrower Obligations - Borrower must pay all reasonable and documented out-of-pocket Lender expenses incurred through the date of the Amendment[15]. - Borrower has the corporate power and authority to execute and deliver the Amendment[10]. - The execution of the Amendment has been duly authorized by all necessary corporate actions on the part of Borrower[10]. - Borrower must deliver various documents, including executed Loan Documents and a legal opinion, prior to the Closing Date to satisfy conditions for the Loan[185]. - Each Loan Party must maintain good standing and be duly organized under applicable laws to avoid a Material Adverse Effect[192]. - Borrower must ensure that no defaults exist under any material agreements or instruments related to its indebtedness[197]. - The obligations of Lenders to make the Loan are contingent upon the Borrower's compliance with all terms and conditions set forth in the Loan Documents[188]. - Borrower must use best efforts to obtain landlord and bailee consents for locations holding significant collateral[190]. - Borrower is required to provide insurance certificates and other documentation within specified timeframes post-Closing Date[190]. Compliance and Legal Matters - No Event of Default has occurred and is continuing as per Borrower's representations[9]. - The Company must comply with Anti-Corruption and Anti-Terrorism Laws, including the U.S. Foreign Corrupt Practices Act and the USA PATRIOT Act[46][47]. - A Change in Control is defined as any person or group obtaining 49% or more of the voting power for the election of directors[54]. - The Company must maintain compliance with the Employee Retirement Income Security Act (ERISA) regulations[68]. - The Company is required to provide a Compliance Certificate as part of its obligations under the Agreement[58]. - The Agreement outlines the conditions under which an Event of Default may occur, impacting the Company's obligations[69]. - Borrower and its Subsidiaries are not classified as an "investment company" under the Investment Company Act of 1940[198]. - Borrower has complied with the Federal Fair Labor Standards Act in all material respects[199]. - Borrower and its Subsidiaries have obtained all necessary consents and approvals from Governmental Authorities to continue their businesses[199]. - There are no violations of Anti-Terrorism Laws by Borrower or its Subsidiaries[200]. - None of the funds provided under the Agreement will be used for activities violating Anti-Corruption Laws or for payments to government officials[200]. Financial Definitions and Conditions - The Loan and Security Agreement includes provisions for cash proceeds from public or private sales of Qualified Equity Interests, with specific definitions for net proceeds and partnerships[43]. - The Amortization Date is set for December 1, 2027, with potential extensions based on milestone achievements[45]. - The definition of "Borrower Products" includes all products and technologies currently being developed or sold by the Company[51]. - The definition of "Equity Interests" encompasses various forms of capital stock and ownership interests in the Company[68]. - The definition of "indebtedness" includes all obligations for borrowed money and capital lease obligations[76]. - The term "material agreement" includes contracts involving amounts exceeding $10 million[95]. - Permitted Indebtedness includes up to $1,000,000 outstanding at any time secured by specific liens, and trade creditor indebtedness not exceeding $250,000[107]. - Unsecured indebtedness is capped at $500,000 at any time outstanding, with reimbursement obligations related to letters of credit not exceeding $200,000[108]. - Investments in newly-formed subsidiaries are allowed, provided they enter into a Joinder Agreement or Guaranty promptly after formation[111]. - Investments by a Loan Party in any Immaterial Subsidiary for clinical trial expenses are limited to $2,500,000 in the aggregate[111]. - Permitted Royalty Transactions can yield up to 7% of worldwide net sales or revenue in any calendar year[115]. - Transfers of assets with a fair market value not exceeding $500,000 in the aggregate are permitted in any fiscal year[116]. - Liens securing claims of materialmen and other similar persons are allowed if not delinquent or being contested in good faith[113]. - Indebtedness incurred in the ordinary course of business for netting services and overdraft protections is permitted[108]. - Investments consisting of loans to employees for purchasing equity securities are capped at $500,000 in aggregate[110]. - Extensions, refinancings, and renewals of permitted indebtedness are allowed without increasing the principal amount[108]. - The aggregate balance in the deposit account must not exceed $42,000 at any time[70].

News Release TransAlta Reports Third Quarter 2025 Results CALGARY, Alberta (November 6, 2025) TransAlta Corporation (TransAlta or the Company) (TSX: TA) (NYSE: TAC) today reported its financial results for the third quarter ended Sept. 30, 2025. • Achieved strong operational availability of 92.7 per cent in 2025, compared to 94.5 per cent in 2024 • Adjusted EBITDA of $238 million, compared to $315 million for the same period in 2024 (1) • Free Cash Flow (FCF) of $105 million, or $0.35 per share, compared to ...

Revenue Performance - Total revenue for the three months ended September 30, 2025, was $452,000, compared to $387,000 for the same period in 2024, representing a 16.8% increase[19] - Total revenue for the nine months ended September 30, 2025, was $1.85 million, a significant decrease from $39.67 million in the same period of 2024[161] - Collaboration and license revenue for the nine months ended September 30, 2025, was $400,000, a significant decrease from $39,111,000 in 2024[19] - Collaboration and license revenue for the nine months ended September 30, 2025, was $400,000, down from $39.11 million in 2024[196] - Grant revenue for the nine months ended September 30, 2025, increased by 158% to $1.5 million, compared to $561,000 in 2024[197] Operating Expenses - Operating expenses for the three months ended September 30, 2025, totaled $21,518,000, up from $17,962,000 in 2024, reflecting a 8.6% increase[19] - Total operating expenses for the nine months ended September 30, 2025, were $66.6 million, a 17% increase from $56.8 million in 2024[195] - Research and development expenses increased by 21% to $13.8 million for the three months ended September 30, 2025, compared to $11.4 million in 2024[188] - Research and development expenses for the nine months ended September 30, 2025, totaled $43.3 million, a 28% increase from $33.8 million in 2024[199] - General and administrative expenses rose by 18% to $7.7 million for the three months ended September 30, 2025, up from $6.6 million in 2024[189] Net Loss - The net loss for the three months ended September 30, 2025, was $35,902,000, compared to a net loss of $24,183,000 for the same period in 2024, indicating a 48.4% increase in losses[19] - The company reported a net loss of $37.726 million for the nine months ended September 30, 2025, compared to a net loss of $67.171 million for the same period in 2024, indicating a 44% improvement in losses year-over-year[29] - For the three months ended September 30, 2025, the net loss was $35,902,000, compared to a net loss of $24,183,000 for the same period in 2024, representing a 48% increase in net loss year-over-year[61] - The net loss for the nine months ended September 30, 2025, was $37.7 million, a decrease of $29.5 million from the net loss of $67.2 million for the same period in 2024[207] Cash and Assets - Cash and cash equivalents decreased to $143,384,000 as of September 30, 2025, down from $212,610,000 at the end of 2024, a decline of 32.5%[16] - Cash, cash equivalents, and restricted cash totaled $145.1 million as of September 30, 2025, with $1.7 million classified as restricted cash related to lease commitments[209] - Total assets decreased to $372,675,000 as of September 30, 2025, from $435,023,000 at December 31, 2024, a reduction of 14.3%[16] - Total liabilities decreased to $408,519,000 as of September 30, 2025, from $441,825,000 at December 31, 2024, a decline of 7.5%[16] Stock and Equity - The company reported a total stockholders' deficit of $(35,844,000) as of September 30, 2025, compared to $(6,802,000) at December 31, 2024[16] - The company executed a 1-for-30 reverse stock split on April 4, 2024, affecting all share-related figures in the financial statements[26] - The Company approved a reverse stock split at a ratio of 1-for-30, effective April 4, 2024, impacting all share-related figures in the financial report[37] - The Company issued 149,330.115 shares of Series A Preferred Stock as part of the 2023 Private Placement, with a total non-cash settlement of $35.2 million for the remaining tranches[76] Funding and Future Outlook - The company expects to continue incurring significant expenses and operating losses for the foreseeable future as it advances its product candidates[167] - The Company currently has no source of product revenue and does not expect to generate product revenue for the foreseeable future, relying primarily on collaboration agreements for revenue[44] - The company expects to continue incurring losses and will require additional capital to fund operations, which may be raised through equity offerings, debt financings, and collaborations[208] - The Company may need to seek additional funding sooner than expected if actual results differ from management's estimates regarding its ability to fund operations[45] Agreements and Milestones - Astellas paid a $10.0 million upfront payment under the Astellas Agreement, with potential future payments of up to $340.0 million contingent on development and regulatory milestones[124] - The Company received a one-time upfront payment of $75.0 million from Sobi under the Sobi License, with potential milestone payments totaling up to $630.0 million[127] - The Sobi License agreement includes a one-time upfront payment of $75 million and potential milestone payments totaling $630 million, along with tiered royalty payments[214] - The Company is required to submit a BLA for a licensed product by the fourth quarter of 2026 and make a first commercial sale by the fourth quarter of 2028 under the NCI Agreement[147] Changes in Fair Value - The change in fair value of contingent value right liability resulted in an expense of $18.7 million for the nine months ended September 30, 2025, compared to a gain of $51.9 million in 2024[195] - For the nine months ended September 30, 2025, the company recognized $18.7 million of income from the decrease in the fair value of the CVR liability, a change of $70.6 million compared to a $51.9 million expense in the prior period[203] - The estimated fair value of the CVR liability was $369,000,000 as of September 30, 2025, with a change in fair value of $(18,746,000) during the nine months ended September 30, 2025[74]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 26-1622110 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 7495 New Horizon Way, Frederick, MD 21703 (Address of principal executive of ...

Financial Performance - Avalo Therapeutics reported a net loss of $64.5 million for the nine months ended September 30, 2025, with negative cash flows from operations of $37.2 million[160]. - The company recognized no product revenue for the three months ended September 30, 2025, following the expiration of its license agreement for Millipred on September 30, 2023[164][176]. - Other expense, net was $11.4 million for the three months ended September 30, 2025, a significant decrease from other income of $35.9 million in the prior year period[174]. - The company recognized a net other expense of $11.3 million for the nine months ended September 30, 2025, compared to other income of $55.4 million in the prior year, primarily due to changes in fair value of derivative liabilities[187]. Cash Flow and Liquidity - As of September 30, 2025, Avalo had $111.6 million in cash and cash equivalents, sufficient to fund operations for at least twelve months[161]. - The company had $111.6 million in cash and cash equivalents and short-term investments as of September 30, 2025[189]. - Net cash used in operating activities was $37.2 million for the nine months ended September 30, 2025, compared to $34.0 million in 2024, primarily due to a net loss of $64.5 million[191]. - Net cash used in investing activities was $84.1 million for the nine months ended September 30, 2025, primarily from purchases of available-for-sale investments[193]. - Net cash provided by financing activities was $13.9 million for the nine months ended September 30, 2025, from sales of shares under the "at-the-market" sales agreement[194]. Research and Development - Research and development expenses increased by $4.1 million to $13.6 million for the three months ended September 30, 2025, driven by a $2.2 million rise in clinical expenses[167]. - Research and development expenses increased by $20.6 million for the nine months ended September 30, 2025, totaling $36.8 million compared to $16.3 million in 2024, driven by clinical and CMC expenses[178]. - Clinical expenses rose by $11.6 million due to advancements in the Phase 2 LOTUS trial, while CMC expenses increased by $4.8 million due to raw material purchases and drug manufacturing activities[178]. - The company expects future research and development expenses in 2025 to increase due to ongoing execution of the Phase 2 LOTUS trial[180]. Clinical Trials and Pipeline - The Phase 2 LOTUS trial for AVTX-009 in hidradenitis suppurativa has enrolled approximately 250 adults and is expected to release topline results in mid-2026[155][158]. - Clinical expenses for the Phase 2 LOTUS trial increased due to ongoing patient trial costs and activities performed by contract research organizations[168]. - Avalo's strategy includes advancing its pipeline towards regulatory approval and considering further indication expansion for AVTX-009[162]. General and Administrative Expenses - General and administrative expenses rose by $1.3 million to $5.6 million for the three months ended September 30, 2025, primarily due to increased stock-based compensation[172]. - General and administrative expenses increased by $4.4 million for the nine months ended September 30, 2025, totaling $16.4 million compared to $12.0 million in 2024, primarily due to a $3.8 million rise in stock-based compensation[183]. Future Funding and Strategy - The company plans to fund future operations through equity sales, out-licensing transactions, and strategic collaborations[161].

Exhibit 99 OBU SHIFT @ Q3 2025 SHAREHOLDER LETTER INVESTORS.SHIFT4.COM Forward-Looking Statements This letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Shift4 Payments, Inc. ("we. "our," the "Company." o "Shift4") intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act ...

Financial Performance - Total revenues grew 14% year-over-year to $116.1 million in Q3 2025, with an operating loss improved by 28% year-over-year to $48.8 million[4] - Product revenue, net was $115.4 million in Q3 2025, representing 13% year-over-year growth, driven by increased sales for NUZYRA and XACDURO[12] - Adjusted loss from operations was $28.0 million in Q3 2025, a 42% improvement year-over-year[4] - Net loss was $36.0 million in Q3 2025, compared to a net loss of $41.7 million for the same period in 2024[10] - Total revenues for Q3 2025 reached $116.1 million, a 13% increase compared to $102.3 million in Q3 2024[33] - Product revenue, net for the nine months ended September 30, 2025, was $330.1 million, reflecting a 14% year-over-year growth[33] - Loss from operations for Q3 2025 was $48.8 million, a 28% improvement from a loss of $67.9 million in Q3 2024[36] - Adjusted loss from operations for Q3 2025 was $28.0 million, compared to $48.2 million in Q3 2024[36] - Comprehensive loss for Q3 2025 was $42.7 million, down from $56.2 million in Q3 2024[34] Cash and Liabilities - Cash and cash equivalents totaled $817.2 million as of September 30, 2025, down from $832.3 million as of June 30, 2025[10] - Cash and cash equivalents increased to $717.2 million as of September 30, 2025, up from $449.7 million at the end of 2024[32] - Total current liabilities rose to $359.8 million as of September 30, 2025, compared to $299.4 million at the end of 2024[32] - The company’s accumulated deficit increased to $2.58 billion as of September 30, 2025, from $2.45 billion at the end of 2024[32] Guidance and Future Outlook - Zai Lab is revising total revenue guidance for the full year 2025 to at least $460 million[21] - The company anticipates continued revenue growth and aims to achieve profitability in the future, although specific timelines were not provided[27] Research and Development - Research and Development (R&D) expenses decreased to $47.9 million in Q3 2025 from $66.0 million in Q3 2024[12] - Zocilurtatug pelitecan (zoci) is entering pivotal development with a global registrational study initiated for second-line extensive-stage small cell lung cancer[4] - KarXT was included in China's national-level treatment guidelines for schizophrenia, with launch preparations underway[4] Product Performance - VYVGART and VYVGART Hytrulo generated $27.7 million in Q3 2025, reflecting a 4.6% quarter-over-quarter growth[12]

Warner Bros. Discovery Reports Third-Quarter 2025 Results | | | | Three Months Ended September 30, | | | | --- | --- | --- | --- | --- | --- | | | 2025 | | 2024 | % Change | | | $ in millions | | | | Reported | Ex-FX(") | | Distribution | S 4,702 | S | 4,920 | (4)% | (4)% | | Advertising | 1,407 | | 1,682 | (16)% | (17)% | | Content | 2,649 | | 2,721 | (3)% | (3)% | | Other | 287 | | 300 | (4)% | (7)% | | Total revenues | S 9,045 | ತಿ | 9,623 | (6)% | (6)% | | Net (loss) income available to Warner Bros. Dis ...

EXHIBIT 99.1 Priority Technology Holdings, Inc. Reports Third Quarter Financial Results Third Quarter Performance Driven by Strength of Unified Commerce Platform ALPHARETTA, GA - November 6, 2025 -- Priority Technology Holdings, Inc. (NASDAQ: PRTH) ("Priority" or the "Company"), the payments and banking solution that streamlines collecting, storing, lending, and sending money to unlock revenue opportunities, today announced its third quarter 2025 financial results including strong year-over-year diversified ...