As filed with the Securities and Exchange Commission on September 08, 2025. Registration No. 333-289767 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 CARING BRANDS, INC. (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classification Code Number) Nevada 2844 99-4103908 (I.R.S. Employer Identification Nu ...

Core Insights - Medexus Pharmaceuticals reported fiscal Q1 2026 results, highlighting a net revenue of $24.6 million and a net income of $0.5 million, with a focus on the successful launch of GRAFAPEX [1][2][8] Financial Performance - Fiscal Q1 2026 net revenue was $24.6 million, a decrease of $2.7 million or 9.9% compared to $27.3 million in fiscal Q1 2025, primarily due to reduced sales of Rupall and Gleolan [9] - Adjusted EBITDA for fiscal Q1 2026 was $3.4 million, down $2.7 million or 44.3% from $6.1 million in fiscal Q1 2025 [9] - Operating income decreased to $0.9 million, a drop of $3.1 million or 77.5% compared to $4.0 million in fiscal Q1 2025 [9] - Available liquidity as of June 30, 2025, was $9.3 million, down from $24.0 million as of March 31, 2025, mainly due to a $15.5 million payment under a credit agreement [9] GRAFAPEX Performance - GRAFAPEX generated $3.0 million in product-level net revenue during fiscal Q1 2026, matching the investment in personnel and infrastructure for the product [3][12] - The company anticipates GRAFAPEX's product-level net revenue for fiscal Q2 2026 to be between $3.0 million and $3.5 million, considering observed wholesaler purchasing patterns [5][12] - GRAFAPEX is expected to contribute positively to quarterly operating cash flows by fiscal Q3 2026 [5][12] Market Response and Future Outlook - Positive market response to GRAFAPEX includes formulary inclusion by nine large commercial payers covering approximately 48 million patient lives [5] - The US Centers for Medicare & Medicaid Services approved New Technology Add-On Payment (NTAP) reimbursement for GRAFAPEX, which will provide additional reimbursement starting October 1, 2025 [11] - The company expects annual product-level net revenue from GRAFAPEX to exceed $100 million within five years post-launch [11] Product Portfolio and Competitive Landscape - The company is facing challenges with Rupall, which has seen a 29% decrease in unit demand due to the expiration of market exclusivity and increased generic competition [17] - Other products like Trecondyv and IXINITY have shown varying performance, with Trecondyv experiencing a 38% growth in unit demand over the past year [13][14]

Financial Data and Key Metrics Changes - Q2 Rytello net revenues were $49 million, representing an increase of approximately 24% over the first quarter [5][29] - As of June 30, 2025, cash and marketable securities were approximately $433 million, up from $503 million as of December 31, 2024 [29] - Research and development expenses for Q2 were $22 million, down from $31 million for the same period in 2024, primarily due to lower clinical trial costs [30] Business Line Data and Key Metrics Changes - Demand growth in Q2 was 17% higher compared to Q1, with approximately 1,000 sites of care utilizing Rytello, an increase of about 400 new sites since the beginning of the year [13][14] - Approximately two-thirds of accounts that previously ordered Rytello have reordered in Q2 [14] - Payer access improved, with approximately 90% of US covered lives now under favorable Rytello medical coverage policies, up from 85% in Q1 [16] Market Data and Key Metrics Changes - The company is focused on increasing brand awareness among US hematologists treating lower-risk MDS patients, with positive feedback on educational efforts [7][23] - The company plans to expand its commercial sales force and customer-facing roles by over 20% to enhance KOL support and advocacy [8][20] Company Strategy and Development Direction - The primary strategy remains the successful commercialization of Rytello in the US, with a focus on increasing brand awareness and physician education [5][10] - The company is preparing for the launch of Rytello in select EU markets next year, maintaining financial discipline in investments for this launch [10][22] - The appointment of Harout Semerjian as the new President and CEO is expected to drive shareholder value and enhance the company's strategic direction [4][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the execution of commercial strategies and the potential for continued growth, particularly in the US market [11][54] - The company is optimistic about the enrollment momentum in the Phase III IMPACT MF trial, expecting completion by year-end [11][25] Other Important Information - The company has doubled the size of its medical affairs team to enhance community awareness and KOL advocacy [23] - The gross-to-net percentage remained in the mid-teens from Q1 to Q2, consistent with previous guidance [29] Q&A Session Summary Question: How many active patients are now receiving Rytello? - The company estimates that there are at least 600 active patients based on the number of accounts that have prescribed Rytello [36] Question: How sustainable is the 17% quarter-over-quarter demand growth? - The company focuses on business drivers such as new patient starts and duration of treatment, with positive trends observed in physician prescribing behavior [42][44] Question: What was the biggest issue that held back the launch in Q4 and Q1? - Management identified the need to increase awareness, ensure prescribing comfort, and engage KOLs as key strategies that have been pivoted since March [52][53] Question: Any qualitative insights on early Q3 demand trends? - The company sees conscious optimism in demand trends based on internal sales data and claims data [62] Question: Any anecdotes about the type of physicians currently prescribing Rytello in earlier lines? - The company noted that earlier line use is seen among physicians who have had patient success in later lines of therapy [71] Question: What is the EU commercialization strategy? - The company is focused on securing the highest possible reimbursable rate and is engaged with potential partners for commercialization in the EU [81][84]