Overview

• US digital asset treasury and biotech R&D firm reported no Q1 revenue as operations remain early-stage

• Q1 net loss widened to $47.3 mln, driven by higher SG&A and digital asset valuation losses

• Company raised $90.4 mln in capital markets to expand Canton Coin holdings and support strategy

Outlook

• Company aims to expand partnerships within the Canton Network ecosystem in 2026

• Company expects new opportunities to generate value from Canton Coin holdings, including lending and options

• Company intends to streamline costs and prioritize value-accretive initiatives

Result Drivers

• OPERATING EXPENSES - Higher SG&A costs from transition to digital asset treasury strategy drove increased operating expenses

• DIGITAL ASSET VALUATION - Unrealized loss on Canton Coin holdings contributed to net loss

• CAPITAL RAISE - Proceeds from capital markets transactions used to expand Canton Coin holdings and support strategy

Company press release: ID:nPn9Hvsp8a

Key Details

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