Bempedoic acid

Healthy lifestyle habits, earlier treatment to lower long-term exposure to plaque-causing lipids, new cholesterol target goals, selective use of coronary calcium scoring, lipoprotein(a) and apolipoprotein B testing, new treatments, and guidance for managing lipids in specific populations among key focus areas WASHINGTON and DALLAS, March 13, 2026 /PRNewswire/ -- The American College of Cardiology (ACC), the American Heart Association and nine other leading medical associations, today issued an updated guideline for the management of dyslipidemia—abnormal levels of one or more types of lipids or lipoproteins in the blood, including cholesterol and triglycerides. It is estimated 1 in 4 U.S. adults has high levels of low-density lipoprotein-cholesterol (LDL-C), which increase the risk of heart attack and stroke. The guideline consolidates evidence-based recommendations for managing dyslipidemias into one document, offering a comprehensive "one-stop shop" for how to best assess and treat various blood lipids to effectively lower an individual's risk of developing atherosclerotic cardiovascular disease (ASCVD). ASCVD is caused by buildup of fatty deposits in the arteries and is the leading cause of death globally. The document was jointly published today in JACC, the flagship journal of the American College of Cardiology, and Circulation, the flagship journal of the American Heart Association. A major focus of the guideline is earlier intervention through healthy lifestyle changes, such as maintaining a healthy weight, engaging in regular physical activity, avoiding tobacco products, prioritizing healthy sleep habits and taking cholesterol-lowering medication when recommended by a health care professional. In addition, the guideline reinforces lower LDL-C goals and percent reduction based on risk to reduce lifetime exposure to unhealthy lipids and the risk of heart attack and stroke. "We know 80% or more of cardiovascular disease is preventable and elevated LDL cholesterol, sometimes referred to as 'bad' cholesterol, is a major part of that risk," said Roger Blumenthal, MD, FACC, FAHA, chair of the guideline writing committee, director of the Johns Hopkins Ciccarone Center for the Prevention of Heart Disease and the Kenneth J. Pollin Professor of Cardiology at Johns Hopkins Hospital in Baltimore. "While we want to try to optimize healthy lifestyle habits as the first step to lower cholesterol, we realize that if lipid numbers aren't within the desirable range after a period of lifestyle optimization, we should consider adding lipid-lowering medication earlier than we would have considered 10 years ago. And lower LDL cholesterol for longer, just like lower blood pressure for longer, results in much greater protection against future heart attack and stroke risk." New to the dyslipidemia guideline is the use of a newer, more contemporary cardiovascular disease risk calculator—Predicting Risk of Cardiovascular Disease EVENTs (PREVENT)—now recommended for primary prevention of ASCVD. The PREVENT-ASCVD equations are designed for adults ages 30-79 years without known ASCVD or subclinical atherosclerosis and with LDL-C 70–189 mg/dL to estimate 10- and 30- year risk of heart attack or stroke and guide lipid-lowering therapy. Lipid-lowering therapy includes statins and other newer treatments in addition to lifestyle management, all aimed at lowering lipid levels. Older risk scores like the Pooled Cohort Equations overestimated the 10-year risk of a heart attack and stroke by 40%-50%, Blumenthal explained. The updated risk categories from the PREVENT-ASCVD equations classify 10-year ASCVD risk as low (<3%), borderline (3% to <5%), intermediate (5% to <10%), and high (10% or higher). These risk categories guide treatment decisions, including whether to initiate statin therapy and the recommended intensity of lipid-lowering therapy. "With this new assessment tool, we can better estimate cardiovascular risk using health information already obtained during an annual physical—cholesterol, blood pressure readings and other personal information such as age and health habits—and then further personalize the risk score for each individual by looking at 'risk enhancers,' which can help guide the need for lipid-lowering therapy," Blumenthal said. Such risk enhancers include a family history of heart disease; chronic inflammatory conditions (e.g., lupus or rheumatoid arthritis); cardiometabolic conditions such as overweight/obesity, diabetes or chronic kidney disease; higher-risk ancestry such as South Asian or Filipino ancestry or other ancestral groups with an enhanced risk for developing atherosclerosis; and reproductive risk markers, including early menopause, preeclampsia and gestational diabetes. Additional markers, including lipoprotein(a) [Lp(a)], apolipoprotein B (apoB), high-sensitivity C-reactive protein (hsCRP) and elevated triglycerides, can be used to refine an individual's ASCVD risk. "Having healthy LDL-cholesterol levels or high-density lipoprotein-cholesterol (HDL-C), traditionally thought of as 'good' cholesterol, isn't necessarily a 'get out of jail free' card," Blumenthal said. "Measuring other biomarkers can give a more complete picture of someone's cardiovascular risk and help inform decisions about whether lipid-lowering therapy is needed sooner rather than later or if more intensive therapy is warranted." The new guideline recommends the consideration of additional tests, when appropriate, to improve cardiovascular risk assessment and assess if more intensified LDL-C lowering and management of other risk factors is needed. These include: Selective use of a non-contrast coronary artery calcium (CAC) scan. This can be used to check for early or subclinical calcium and plaque buildup in the walls of the heart's arteries when there remains uncertainty about a person's true risk. It is recommended for men age 40 and older and women age 45 and older with borderline or intermediate 10-year risk of heart attack or stroke if knowing CAC will help with the decision to prescribe a statin or not. Having any amount of coronary artery calcium supports an LDL-C goal of less than 100 mg/dL—with lower LDL-C target levels with higher amounts of calcium. Lipoprotein (a). Lp(a) should be measured at least once in adulthood. Lp(a) levels are largely genetically determined and remain relatively stable over a lifetime. High Lp(a) (125 nmol/L or greater or 50 mg/dL or greater) is associated with about a 1.4-fold increased long-term risk of heart attack or stroke. An Lp(a) of 250 nmol/L is associated with at least a two-fold increased long-term risk of heart attack or stroke. Lifestyle changes minimally affect Lp(a) levels, so repeat testing is generally not needed. Apolipoprotein B. Measuring apoB may be used to assess any residual ASCVD risk and guide treatment among people with cardiovascular-kidney-metabolic syndrome, Type 2 diabetes, high triglycerides or known cardiovascular disease who have reached their LDL-C and non-HDL-C goals. ApoB may be a more accurate risk marker than LDL-C in these groups of people. LDL-C cholesterol and non-HDL-C goals are back in the new guideline. To prevent a first heart attack or stroke, the LDL-C goal should be less than 100 mg/dL for those at borderline or intermediate risk and less than 70 mg/dL in those at high risk. For individuals with ASCVD who are at very high risk of ASCVD events, the LDL-C goal should be less than 55 mg/dL for secondary prevention of cardiac events. "In general, lower LDL is better, especially for people at increased risk for a heart attack or stroke," said Pamela B. Morris, MD, FACC, FAHA, vice-chair of the guideline writing committee and the Paul V. Palmer chair of cardiovascular disease prevention and director of the Seinsheimer Cardiovascular Health Program at The Medical University of South Carolina. "Clinical trials have clearly demonstrated significant benefits for reduction in cardiovascular events when LDL-C levels are even lower than recommended in previous guidelines." If LDL-C levels are not adequately lowered by healthy lifestyle habits and statin therapy, which remains the foundation of lipid-lowering and risk reduction, the guideline recommends the addition of non-statin therapies. Depending upon the level of risk and patient characteristics, evidence-based options include ezetimibe and/or bempedoic acid (a newer oral agent) or a PCSK9 monoclonal antibody, an injectable therapy. Inclisiran, another injectable option that requires less frequent injections, is still being studied in clinical trials to determine whether the associated LDL-C lowering translates into better outcomes and fewer cardiac events. The guideline also outlines treatment for hypertriglyceridemia—abnormally high levels of triglycerides. Lifestyle changes and statin therapy remain the mainstay of treatment here as well due to the increased risk of ASCVD. However, other therapies may be needed based on an individual's ASCVD and pancreatitis risk. Special considerations are recommended to optimize lipid management in certain adults at increased risk of heart disease. For example: Initiating lipid-lowering therapy for people age 40 or older who have chronic kidney disease (stage 3 or higher), HIV or Type 1 or Type 2 diabetes Continuing lipid-lowering therapy in people being treated for cancer, unless contraindicated Deferring most lipid-lowering therapies during conception, pregnancy and lactation In addition, the guideline notes that high cholesterol can begin to impact heart disease risk even in childhood and adolescence. Children may have high cholesterol due to inherited conditions or lifestyle habits. Cholesterol screening is recommended for all children between the ages of 9-11 years not previously screened to help assess risk and guide care, in collaboration with clinicians, parents and caregivers. "Implementation of this important new guideline by clinicians will be critical to reduce the burden of cardiovascular disease in the future. Improved risk assessment tools with the PREVENT-ASCVD equations, selective use of CAC scoring and measurement of lipoprotein(a) allow us to personalize treatment of those individuals at increased risk. The evidence base continues to grow and has demonstrated that people who maintain low levels of LDL cholesterol and triglycerides at earlier ages are much less likely to develop atherosclerotic disease decades later," Morris said. "Taking action early in life is critical because high cholesterol begins to impact your heart disease risk even in adolescence." The new guideline was developed in collaboration with and is endorsed by the American Association of Cardiovascular and Pulmonary Rehabilitation, Association of Black Cardiologists, American College of Preventive Medicine, American Diabetes Association, American Geriatrics Society, American Pharmacists Association, American Society for Preventive Cardiology, National Lipid Association and Preventive Cardiovascular Nurses Association. Additional Resources: After March 13, 2026, view the manuscript online in and JACC and Circulation. JACC.org Guideline Hub (available Wed., March 18, 2026 at 10 am ET) American Heart Association Guideline Hub for Professionals (available at 2 p.m. ET, Fri., March 13, 2026) JACC.org Dyslipidemia Guideline-at-a-Glance (available Wed., March 18, 2026 at 10 am ET) Editorial: Clinical Guidelines as a Continuous Work in Progress: Moving at the Speed of Science online in JACC and Circulation (available at 2 p.m. ET, Fri., March 13, 2026) Follow the ACC at @ACCinTouch Follow American Heart Association/American Stroke Association news on X @HeartNews Follow news from the ACC's flagship journal JACC @JACCJournals Follow news from the American Heart Association's flagship journal Circulation @CircAHA The American College of Cardiology (ACC) is a global leader dedicated to transforming cardiovascular care and improving heart health for all. For more than 75 years, the ACC has empowered a community of over 60,000 cardiovascular professionals across more than 140 countries with cutting-edge education and advocacy, rigorous professional credentials, and trusted clinical guidance. From its world-class JACC Journals and NCDR registries to its Accreditation Services, global network of Chapters and Sections, and CardioSmart patient initiatives, the College is committed to creating a world where science, knowledge and innovation optimize patient care and outcomes. Learn more at or connect on social media at @ACCinTouch. The American Heart Association is a relentless force for a world of longer, healthier lives. Dedicated to ensuring equitable health in all communities, the organization has been a leading source of health information for more than one hundred years. Supported by more than 35 million volunteers globally, we fund groundbreaking research, advocate for the public's health, and provide critical resources to save and improve lives affected by cardiovascular disease and stroke. By driving breakthroughs and implementing proven solutions in science, policy, and care, we work tirelessly to advance health and transform lives every day. Connect with us on heart.org, Facebook, X or by calling 1-800-AHA-USA1. SOURCE American College of Cardiology 21% more press release views with Request a Demo

Adjusted EBITDA 1 grew 18% to $19.6 million in fiscal 2025 Cash from operations grew 114% to $17.1 million in fiscal 2025 In-licensed NILEMDO ™ and NEXLIZET ® for the Canadian market; NILEMDO approved by Health Canada in November 2025 and is now commercially available Announced new credit facility with lower rates, increased flexibility and reduced F/X risk; reduced long term debt by 26%, achieving 43% reduction in annual interest expense TORONTO , March 12, 2026 /CNW/ - HLS Therapeutics Inc. ("HLS" or the "Company") (TSX: HLS), a pharmaceutical company focused on addressing unmet needs in the treatment of psychiatric disorders and cardiovascular disease, announces its financial results for the three and twelve months ended December 31, 2025 ("Q4 2025" and "fiscal 2025"). All amounts are in thousands of United States ("U.S.") dollars unless otherwise stated. Q4 & F2025 FINANCIAL HIGHLIGHTS (comparisons are to the respective 2024 periods) Fiscal 2025 revenue was $55.5 million, Adjusted EBITDA was $19.6 million and cash from operations was $17.1 million, compared to $56.6 million, $16.6 million and $8 million, respectively. Q4 2025 revenue was $15.2 million, Adjusted EBITDA was $5.7 million and cash from operations was $6.5 million, compared to $15.5 million, $5.6 million and $3.2 million, respectively. Canadian product sales increased 1.5% in fiscal 2025 in local currency and decreased 0.5% in Q4 2025. Foreign exchange negatively impacted fiscal 2025 reported revenue by approximately $0.8 million. U.S. Clozaril sales decreased 1.6% in fiscal 2025, an improvement from the prior four-year average annual decline of 6%, reflecting the success of the Company's specialty pharmacy program. Q4 2025 sales decreased 9% due primarily to timing of year-end customer shipments. Excluding cost of sales, operating expenses decreased 17% in fiscal 2025 and 6% in Q4 2025. For direct brand contribution to Adjusted EBITDA in fiscal 2025 - Clozaril contributed $26.9 million and Vascepa contributed $1 million, marking a pivot to full year profitability for Vascepa. Q4 & F2025 CORPORATE HIGHLIGHTS Expanded cardiovascular portfolio by licensing Canadian rights to NILEMDO ™ and NEXLIZET ® from Esperion Therapeutics. Received Health Canada approval for NILEMDO in Q4 2025 with product available as of March 2026. Made principal repayments on long-term debt totaling $17.8 million for fiscal 2025, including $5.0 million in Q4 2025. Secured new credit agreement with improved terms, helping to reduce fiscal 2025 interest expense by 43% compared to fiscal 2024. "In 2025, HLS made considerable progress against our objectives to drive profitable growth, strengthen our balance sheet, and lay the foundation for future growth," said Craig Millian, Chief Executive Officer at HLS. "We achieved 18% Adjusted EBITDA growth for the full year while generating $17.1 million in cash from operations, up 114% compared to 2024. Changes to our cardiovascular sales force are making an impact, with Vascepa unit growth of 23% for the year and strengthening new-to-brand momentum. We've de-levered our balance sheet, reduced our cost structure, and executed on our business plan. In 2026, we will leverage the efficiency and profitability gains we've made to advance towards our next stage of growth " "NILEMDO and NEXLIZET represent a significant opportunity. NILEMDO offers physicians and patients an effective, well-tolerated oral treatment option at a fraction of the cost of injectable alternatives. With an estimated 500,000 eligible patients in Canada and compelling data from the CLEAR Outcomes trial, we believe this franchise will more than double the size of our cardiovascular business. We were pleased to announce that NILEMDO is now available with a full commercial launch coming in early April." 2026 OUTLOOK 2026 financial targets are as follows: Consolidated revenue of $56-60 million, representing mid-single-digit percentage growth. Consolidated Adjusted EBITDA of $18.5-21 million, representing relatively flat year-over-year performance largely due to NILEMDO launch costs. Of note, future results could be impacted by continued exchange rate volatility. Mr. Millian added: "Our 2026 guidance reflects modest growth in our base business along with some increased investment to drive a successful NILEMDO launch. The real growth story accelerates beyond this year as NILEMDO gains traction throughout 2026, as we expand public payer access in early 2027, and then launch NEXLIZET in 2027. Our base business is stable and profitable, our balance sheet is strong, and we have financial flexibility to pursue additional portfolio expansion. We've built the foundation and are now positioned to drive sustained profitable growth." Q4 & F2025 FINANCIAL REVIEW The Company's Management's Discussion and Analysis and Consolidated Financial Statements for the three and twelve months ended December 31, 2025, are available at the Company’s website and at its pro SEDAR+ . Revenue Three months ended December 31, Year ended December 31, 2025 2024 2025 2024 Product sales Canada 11,637 11,694 42,385 42,572 United States 3,337 3,661 12,370 12,568 14,974 15,355 54,755 55,140 Royalty revenue 221 187 745 1,479 15,195 15,542 55,500 56,619 Revenue for fiscal 2025 decreased 2% to $55.5 million compared to $56.6 million in fiscal 2024. Excluding the impact of foreign exchange, revenue from marketed products increased 1%, with Vascepa growth offset, in part, by Clozaril regional competitive dynamics as noted in the Company's Q3 2025 reporting. Revenue for Q4 2025 decreased 2% to $15.2 million compared to $15.5 million in Q4 2024, primarily due to softer revenue in the U.S. business. Product sales – Canada 000's of CAD Three months ended December 31, Year ended December 31, 2025 2024 % change 2025 2024 % change Clozaril 9,637 9,712 (0.8) % 34,377 35,721 (3.8) % Vascepa 6,540 6,595 (0.8) % 24,609 22,550 9.1 % Other 55 6 228 60 16,232 16,313 (0.5) % 59,214 58,331 1.5 % For fiscal 2025, Canadian product sales in local currency increased 1.5%. Vascepa sales and unit volumes grew 9% and 23%, respectively, reflecting the Company's sales force changes and expanded provincial access, while Clozaril Canada sales declined 4% due to regional competitive dynamics. Canadian product sales for Q4 2025 decreased 0.5%. Product Sales – United States In the U.S. market, Clozaril revenue for fiscal 2025 decreased 1.6% compared to fiscal 2024, a considerable improvement over the prior four-year average annual decline of 6%. This reflects the success of the Company's specialty pharmacy program in offsetting patient attrition. Q4 2025 revenue decreased 9% year-over-year primarily due to timing of orders and shipments. Royalty revenues Royalty revenue for fiscal 2025 decreased 50% compared to fiscal 2024, as expected following the sale of the Company's Xenpozyme royalty interest in Q2 2024. The Company's remaining royalty interest in Obizur generated $0.22 million in Q4 2025 compared to $0.19 million in Q4 2024. Operating Expenses Three months ended December 31, Year ended December 31, 2025 2024 2025 2024 Cost of product sales 2,643 2,685 10,083 8,997 Selling and marketing 2,841 3,438 11,386 16,733 Medical, regulatory and patient support 1,634 1,539 5,708 5,663 General and administrative 2,366 2,323 8,700 8,578 9,484 9,985 35,877 39,971 Cost of product sales for fiscal 2025 increased due primarily to higher Vascepa sales volumes and were relatively flat in Q4 2025. HLS continues to demonstrate strong operational discipline. Operating expenses for fiscal 2025, comprising sales and marketing, G&A, and medical, regulatory, and patient support, decreased 17% compared to fiscal 2024. This reflects the Company's August 2024 discontinuation of co-promotional activities and ongoing cost optimization initiatives. For Q4 2025, operating expenses decreased 6% year-over-year. Adjusted EBITDA 1 Three months ended December 31, Year ended December 31, 2025 2024 2025 2024 Net loss for the period (1,335) (3,023) (12,430) (19,655) Stock-based compensation 11 423 1,912 1,617 Amortization and depreciation 5,463 5,434 21,817 22,717 Finance and related costs, net 1,702 2,295 7,391 10,293 Other costs (income) 517 343 1,378 (2,397) Income tax expense (recovery) (647) 85 (445) 4,073 Adjusted EBITDA 5,711 5,557 19,623 16,648 Adjusted EBITDA for fiscal 2025 increased 18% compared to fiscal 2024, driven by strong operational discipline and cost optimization initiatives, partially offset by foreign exchange fluctuations and the decline in royalty revenue. Adjusted EBITDA for Q4 2025 increased 3% year-over-year, reflecting continued operational efficiencies. For fiscal 2025, the direct brand contribution from Clozaril to Adjusted EBITDA was $26.9 million, while the direct brand contribution from Vascepa to Adjusted EBITDA improved to $1 million from negative $3.6 million in fiscal 2024. In Q4 2025, the direct brand contribution from Clozaril to Adjusted EBITDA was $7.7 million, while the direct brand contribution from Vascepa to Adjusted EBITDA was $0.3 million. Net Loss Fiscal 2025 net loss was ($12.4) million, or ($0.39) per share, compared to a net loss of ($19.7) million, or ($0.62) per share, in fiscal 2024. Q4 2025 net loss was ($1.3) million, or ($0.04) per share, compared to a net loss of ($3.0) million, or ($0.10) per share, in Q4 2024. Net loss improved in both periods of 2025 due in part to the previously noted factors that have positively impacted Adjusted EBITDA this year. Cash from Operations and Financial Position Cash generated from operations for fiscal 2025 was $17.1 million, up 114% compared to $8.0 million in fiscal 2024. For Q4 2025, cash from operations was $6.5 million, up 103% compared to $3.2 million in Q4 2024. In 2025, the Company strengthened its balance sheet through disciplined capital allocation. During fiscal 2025, HLS made debt principal repayments totaling $17.8 million, reducing total borrowings under the credit agreement to $50.0 million at December 31, 2025, compared to $67.4 million at December 31, 2024. Net debt decreased to $38.3 million at December 31, 2025, compared to $50.0 million at December 31, 2024. Under its Normal Course Issuer Bid, the Company purchased 519,366 shares at a cost of $1.8 million during fiscal 2025. Cash was $11.7 million at December 31, 2025, compared to $17.5 million at December 31, 2024. The decrease reflects the debt principal repayments and share buyback activity, offset in part by the significant increase in cash from operations. Q4 2025 CONFERENCE CALL HLS will hold a conference call today at 8:30 am Eastern Time to discuss its Q4 and fiscal 2025 financial results. The call will be hosted by Mr. Craig Millian, CEO, Mr. John Hanna, CFO and Mr. Brian Walsh, CCO. To view the slides that accompany management's discussion, please use the webcast link. CONFERENCE ID: 88550 DATE: Thursday, March 12, 2026 TIME: 8:30 a.m. ET WEBCAST LINK: TRADITIONAL DIAL-IN NUMBER: 1-888-699-1199 or 1-416-945-7677 RAPIDCONNECT: To instantly join the conference call by phone, please use the following URL to easily register and be connected into the conference call automatically: TAPED REPLAY: 1-888-660-6345 or 1-289-819-1450 REPLAY CODE: 88550 # The taped replay will be available for seven days and the archived webcast will be available for 365 days. A link to the live audio webcast and replay of the conference call will also be available on the events page of the investors section of HLS Therapeutics' website at . ABOUT HLS THERAPEUTICS INC. Formed in 2015, HLS is a pharmaceutical company focused on the acquisition and commercialization of late-stage development, commercial stage promoted and established branded pharmaceutical products in the North American markets. HLS's focus is on products targeting the central nervous system and cardiovascular therapeutic areas. HLS's management team is composed of seasoned pharmaceutical executives with a strong track record of success in these therapeutic areas and at managing products in each of these lifecycle stages. For more information visit: 1 CAUTIONARY NOTE REGARDING NON-IFRS MEASURES This press release refers to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of HLS's results of operations from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of HLS's financial information reported under IFRS. HLS uses non-IFRS measures to provide investors with supplemental measures of its operating performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. HLS also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of issuers. HLS's management also uses non-IFRS measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess HLS's ability to meet its future debt service, capital expenditure and working capital requirements. In particular, management uses Adjusted EBITDA as a measure of HLS's performance. To reconcile net income (loss) for the period with Adjusted EBITDA, each of (i) "stock-based compensation", (ii) "amortization and depreciation", (iii) "finance and related costs, net", (iv) "other costs (income)", and (v) "income tax expense (recovery)" appearing in the Consolidated Statement of Net Income (Loss) are added to net income (loss) for the period to determine Adjusted EBITDA. Adjusted EBITDA does not have any standardized meaning prescribed by IFRS and is not necessarily comparable to similar measures presented by other companies. Adjusted EBITDA should not be considered in isolation or as a substitute for net income (loss) prepared in accordance with IFRS as issued by the IASB . FORWARD LOOKING INFORMATION This release includes forward-looking statements regarding HLS and its business. Such statements are based on the current expectations and views of future events of HLS's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements, including, among others, statements with respect to HLS's pursuit of additional product and pipeline opportunities in certain therapeutic markets, statements regarding growth opportunities, expectations regarding financial performance, and the NCIB and ASPP. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting HLS, including risks relating to the specialty pharmaceutical industry, risks related to the regulatory approval process, economic factors and many other factors beyond the control of HLS. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause HLS's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. A discussion of the material risks and assumptions associated with this release can be found in the Company's Annual Information Form dated March 11, 2026, and Management's Discussion and Analysis dated March 11, 2026, both of which have been filed on SEDAR+ and can be accessed at . Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and HLS undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. HLS THERAPEUTICS INC. CONSOLIDATED STATEMENTS OF FINANCIAL POSITION [in thousands of U.S. dollars] As at As at December 31, 2025 December 31, 2024 ASSETS Current Cash 11,723 17,456 Accounts receivable 7,862 7,454 Inventories 8,139 9,058 Income taxes recoverable -- 71 Other current assets 1,370 1,361 Total current assets 29,094 35,400 Property, plant and equipment 1,338 997 Intangible assets 105,626 122,122 Deferred tax asset 1,143 857 Other non-current assets 328 528 Total assets 137,529 159,904 LIABILITIES AND SHAREHOLDERS' EQUITY Current Accounts payable and accrued liabilities 10,438 8,709 Provisions 10,456 8,367 Debt and other liabilities 4,817 5,317 Income taxes payable 410 152 Total current liabilities 26,121 22,545 Debt and other liabilities 46,678 61,944 Deferred tax liability 3,060 4,074 Total liabilities 75,859 88,563 Shareholders' equity Share capital 256,338 260,595 Contributed surplus 16,164 15,136 Accumulated other comprehensive loss (6,680) (10,210) Deficit (204,152) (194,180) Total shareholders' equity 61,670 71,341 Total liabilities and shareholders' equity 137,529 159,904 HLS THERAPEUTICS INC. CONSOLIDATED STATEMENTS OF LOSS Unaudited [in thousands of U.S. dollars, except per share amounts] Three months ended December 31, Year ended December 31, 2025 2024 2025 2024 Revenue 15,195 15,542 55,500 56,619 Expenses Cost of product sales 2,643 2,685 10,083 8,997 Selling and marketing 2,841 3,438 11,386 16,733 Medical, regulatory and patient support 1,634 1,539 5,708 5,663 General and administrative 2,366 2,323 8,700 8,578 Stock-based compensation 11 423 1,912 1,617 Amortization and depreciation 5,463 5,434 21,817 22,717 Finance and related costs, net 1,702 2,295 7,391 10,293 Other costs (income) 517 343 1,378 (2,397) Loss before income taxes (1,982) (2,938) (12,875) (15,582) Income tax expense (recovery) (647) 85 (445) 4,073 Net loss for the period (1,335) (3,023) (12,430) (19,655) Net loss per share: Basic and diluted $(0.04) $(0.10) $(0.39) $(0.62) HLS THERAPEUTICS INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS Unaudited [in thousands of U.S. dollars] Three months ended December 31, Year ended December 31, 2025 2024 2025 2024 Net loss for the period (1,355) (3,023) (12,430) (19,655) Item that may be reclassified subsequently to net loss Unrealized foreign currency translation adjustment 1,018 (5,194) 3,530 (7,372) Comprehensive loss for the period (317) (8,217) (8,900) (27,027) HLS THERAPEUTICS INC. CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY [in thousands of U.S. dollars] Share capital Contributed surplus Accumulated other comprehensive loss Deficit Total Balance, December 31, 2023 262,127 13,865 (2,838) (175,457) 97,697 Shares repurchased (1,532) -- -- 932 (600) Change in share purchase obligation -- 300 -- -- 300 Stock option expense -- 971 -- -- 971 Net loss for the year -- -- -- (19,655) (19,655) Unrealized foreign currency translation adjustment -- -- (7,372) -- (7,372) Balance, December 31, 2024 260,595 15,136 (10,210) (194,180) 71,341 Shares repurchased (4,257) -- -- 2,458 (1,799) Stock option expense -- 1,028 -- -- 1,028 Net loss for the year -- -- -- (12,430) (12,430) Unrealized foreign currency translation adjustment -- -- 3,530 -- 3,530 Balance, December 31, 2025 256,338 16,164 (6,680) (204,152) 61,670 HLS THERAPEUTICS INC. CONSOLIDATED STATEMENTS OF CASH FLOWS Unaudited [in thousands of U.S. dollars] Three months ended December 31, Year ended December 31, 2025 2024 2025 2024 OPERATING ACTIVITIES Net loss for the period (1,335) (3,023) (12,430) (19,655) Adjustments to reconcile net loss to cash provided by operating activities Stock-based compensation 11 423 1,912 1,617 Amortization and depreciation 5,463 5,434 21,817 22,717 Gain on royalty sale -- -- -- (3,381) Accreted interest expense 115 314 2,056 1,226 Foreign exchange 773 -- 341 -- Fair value adjustment on financial assets and liabilities -- 3 -- 526 Deferred income taxes (76) 59 (1,300) 3,812 Net change in non-cash working capital balances related to operations 2,240 (5) 4,734 1,141 Cash provided by operating activities 6,507 3,205 17,130 8,003 INVESTING ACTIVITIES Intangible asset acquisition -- -- (1,000) -- Other intangible additions (283) -- (498) -- Additions to property, plant and equipment (33) -- (205) (15) Proceeds from royalty sale -- -- -- 13,250 Payment of purchase consideration -- (13) -- (1,500) Cash provided by (used in) investing activities (316) (13) (1,703) 11,735 FINANCING ACTIVITIES Shares repurchased (7) -- (1,799) (600) Repayment of old credit agreement borrowing -- (2,510) (67,441) (21,043) New credit agreement borrowing -- -- 57,236 -- Repayment of new credit agreement borrowing (5,032) -- (7,550) -- Debt costs (168) -- (1,388) (1,191) Lease payments (161) (144) (614) (530) Cash used in financing activities (5,368) (2,654) (21,556) (23,364) Net increase (decrease) in cash during the period 823 538 (6,129) (3,626) Foreign currency translation 122 (622) 396 (870) Cash, beginning of period 10,778 17,540 17,456 21,952 Cash, end of period 11,723 17,456 11,723 17,456 SOURCE HLS Therapeutics Inc.