Core Insights - Hofseth BioCare ASA (HBC) held an Extraordinary General Meeting on November 20, 2025, where all proposals were approved as per the notice issued on October 30, 2025 [1] Company Overview - HBC is a Norwegian consumer and pet health company focused on sustainability, optimal utilization of natural resources, and full traceability [1] - The company upcycles byproducts from the salmon industry, converting waste into health-improving ingredients for humans and pets [1] Product Offerings - Key products include ProGo®, a mix of bioactive peptides and collagen; OmeGo®, a whole salmon oil; and CalGo® / NT-II®, a salmon bone powder for bone and joint health [2] - ProGo® enhances iron metabolism, leading to increased energy and vitality, while OmeGo® supports immune health and recovery from viral infections [3] - CalGo® promotes bone and joint health, aiding healthy aging and active lifestyles [3] Scientific and Academic Partnerships - HBC emphasizes scientific evidence, resulting in academic partnerships and the identification of unique health benefits [3] - The company has secured patents for its discoveries and has spun out a biotech-focused entity, HBC Immunology (HBCI), which is developing therapeutics for prostate and ovarian cancer, as well as an oral therapy for asthma [3] Corporate Structure - HBC is headquartered in Ålesund, Norway, with branches in Oslo, London, Zürich, and Palo Alto [4] - The company is listed on the Oslo Stock Exchange under the ticker "HBC" [4]

Core Insights - HBC reported total operating revenues of NOK 54.9 million in Q3 2025, down from NOK 67.9 million in the same period last year, attributed to lower commodity prices and a weaker U.S. dollar [1] - The company experienced an EBITDA of NOK -21.1 million, with operational EBITDA at NOK -12.9 million, excluding non-recurring costs [2] - Cash and cash equivalents decreased by NOK 2.6 million, ending at NOK 65.5 million, while total liquidity, including credit facilities, was NOK 67.0 million at quarter-end [3] Financial Performance - The Midsund plant processed 5,288 tonnes of raw material, marking the highest quarterly volume in HBC's history, with a gross margin improvement to 35% from 28% [8] - Human Nutrition B2B sales surged by 200% year-over-year, driven by products like OmeGo® and ProGo®, which also won the NutraIngredients-USA "Healthy Aging" Award [8] - Consumer & Pet Health (B2C) revenues grew by 30%, supported by new European listings and product extensions [8] Product Development and Innovation - HBC focuses on sustainability and optimal utilization of natural resources, converting salmon industry by-products into health-improving ingredients [4] - Key products include ProGo®, OmeGo®, and CalGo® / NT-II®, which have shown various health benefits, including improved iron metabolism and bone health [5][6] - HBC has established academic partnerships and secured patents for its discoveries, leading to the formation of HBC Immunology, which is developing therapeutics for prostate and ovarian cancer [6] Market Position and Strategy - HBC is listed on Oslo Børs under the ticker "HBC" and emphasizes scientific evidence in its product development [7] - The company aims to enhance its equity and liquidity position following a successful private placement in October 2025 [3]

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Market Trends - The number of public saunas in Britain has more than doubled over the past year [1] Health & Wellness - Whether public saunas offer real health benefits remains a hot topic [1]

Financial Risks - Britain's budget watchdog warned of a £12 billion blow to Rachel Reeves from higher welfare spending [1] Government Policy Impact - The government needs to manage soaring health benefits to avoid the £12 billion impact [1]

Company Overview - Hofseth BioCare ASA is a Norwegian consumer and pet health company focused on sustainability and optimal utilization of natural resources [1] - The company upcycles side streams of the salmon industry, converting waste into health-improving ingredients such as ProGo®, OmeGo®, and CalGo® / NT-II(TM) [1] Product Benefits - ProGo® enhances iron metabolism, increasing energy and vitality [2] - OmeGo® provides immune health benefits, aiding recovery from viral infections and improving respiratory health [2] - CalGo® supports bone and joint health, promoting healthy aging and active lifestyles [2] Scientific and Business Developments - Hofseth BioCare has established academic partnerships and secured several patents for its health-related discoveries [2] - The company has spun out HBC Immunology (HBCI), focusing on potential therapeutics, including programs for prostate and ovarian cancer, as well as an oral therapy for asthma [2]