PharmaTher CEO Publishes Letter to Shareholders

Core Viewpoint - PharmaTher Holdings Ltd. is positioned for significant value creation in 2026 following a year of strategic execution and validation in 2025, focusing on asset monetization and strategic partnerships to enhance revenue and equity value [2][5][16]. Group 1: 2025 Achievements - The company achieved FDA approval for its Ketamine ANDA (217858), marking a pivotal moment that enhances drug development and regulatory confidence [6]. - The sale of the U.S. Ketamine ANDA was completed in December, with potential earnings exceeding US$25 million through an asset purchase agreement that includes upfront payments, sales-based milestones, and profit-sharing [7]. - PharmaTher advanced its asset-driven platform by offering KetaVault™ and KetAImine™, aimed at enabling commercial partnerships [8]. - An Exclusive Evaluation and Option-to-License Agreement was secured with Oakwood Laboratories for a patented long-acting injectable ketamine program targeting neuropsychiatric indications [9]. Group 2: 2026 Objectives - The company plans to realize the economic benefits from the Ketamine ANDA sale, which includes upfront proceeds and profit-sharing tied to cumulative sales [11]. - International expansion for ketamine is a priority, with plans to pursue regulatory and commercial initiatives across multiple geographies [12]. - Strategic partnerships will be sought for ketamine programs, particularly in Parkinson's disease and drug delivery, to improve capital efficiency and accelerate development [13]. - The company aims to crystallize the value of its 49% equity interest in Sairiyo Therapeutics Inc. through various potential transactions [14]. - Development of a next-generation ketamine product will continue, focusing on long-acting injectable formulations and assessing both internal and external opportunities [15]. Group 3: Overall Strategy - PharmaTher's strategy emphasizes acquiring and advancing assets that can be efficiently monetized to generate product revenue, royalty income, and equity value [3][19]. - The company is committed to non-dilutive value creation through disciplined cost control, having reduced cash burn and maintained a lean organization [4].