{"success":true,"data":{"pressRelease":{"id":"3516","rtpr_id":"nGNX3fBs01","ticker":"MDXXF","exchange":"OTC","all_tickers":["MDXXF","MDMA"],"title":"PharmAla Issues Q2 Financial Statements and Grants Options","author":"Globe Newswire","published_at":"2026-04-21T20:05:00.449Z","article_body":"TORONTO, April 21, 2026 (GLOBE NEWSWIRE) -- PharmAla Biotech Holdings Inc.\n(“PharmAla” or the “Company”) (CSE: MDMA) (OTC: MDXXF), a\nbiotechnology company focused on the research, development, and manufacturing\nof LaNeo™ MDMA and novel derivatives of MDMA (MDXX class molecules), is\npleased to have publicly filed its financial and operational results for the\nperiod ended February 28, 2026. All figures are reported in Canadian dollars.\nThe Company’s full set of unaudited condensed interim consolidated financial\nstatements for the quarter and accompanying management’s discussion and\nanalysis can be accessed by visiting the Company’s website at\nwww.PharmAla.ca and its profile page on SEDAR+ at www.sedarplus.ca.\n\n“PharmAla’s financial position continues to benefit from an operational\nfocus by the Company’s management,” said Nick Kadysh, Founding CEO.\n“PharmAla continues to be the only Psychedelics company that has worked to\nunderstand and continually improve commercial implications, in Australia and\nbeyond; As Psychedelics advance rapidly towards commercialization globally,\nthis operational know-how will become only more valuable.”\n\nFinancial Highlights:\n* Customer deposits have continued to grow by $310,719 through Q2, offset by\nrecognition of revenue of $181,492. These deposits, generally being 50% of the\ntotal contract value, can be recognized along with the remaining revenue when\nthe related product is shipped, which for many customers requires the issuance\nof their clinical trial and/or import permits from relevant regulatory bodies.\n* Revenues for the three and six months ended February 28, 2026 were $220,584\nand $487,024 compared to $145,657 and $202,954 for the three and six months\nended February 28, 2025.\n* Net loss and comprehensive loss for the three and six months ended February\n28, 2026 were $337,696 and $747,391 compared to $810,766 and $1,289,875 for\nthe three and six months ended February 28, 2025.\n* Cash used in operating activities was $366,396 for the six months ended\nFebruary 28, 2026 compared to $491,721 for the six months ended February 28,\n2025.\n“Through Q2 2026, we have continued to see increased demand for our product,\nculminating in a steady increase in customer deposits,” said Will Avery,\nCFO, PharmAla Biotech. “With our proven supply chain in the U.S. and\nAustralia we have been able to convert customer deposits into revenue at an\nimproved rate.”\n\nIssuance of Options:\nPharmAla has issued options to the following Board Members and Officers. The\noptions are issued subject to a vesting period, such that every 3 months 25%\nof the allotment will be vested, such that the options shall be fully vested\non the 12 month anniversary of the date of grant, which is April 20, 2026. The\noptions have a fixed exercise price per share of $0.10 (subject to adjustment\nin accordance with the terms of the Plan and/or stock option agreement). All\nvested but unexercised options shall expire and cease to be of effect on April\n20, 2031.\n\n Name of Optionee    Position                 Number of Options  \n Jodi Butts          Director                 350,000            \n Kevin Roy           Director                 250,000            \n Fraser Macdonald    Director                 250,000            \n Perry Tsergas       Director                 250,000            \n Lennie Ryer         Director                 250,000            \n Nicholas Kadysh     Chief Executive Officer  1,000,000          \n Will Avery          Chief Financial Officer  1,000,000          \n Farnoud Kazemzadeh  Chief Operating Officer  1,000,000          \n Harpreet Kaur       Employee                 500,000            \n Total                                        4,850,000          \n                                                                 \n                                                                 \n\nCorporate Leadership Change\n\nThe Company regretfully announces that Ali Taghva will transition out of his\nrole as Chief Commercial Officer to focus on other projects. Mr. Taghva will\nleave the role of Chief Commercial Officer effective immediately, and will\nfully transition out of the company by July 2026.\n\nAbout PharmAla\n\nPharmAla Biotech Holdings Inc. (CSE: MDMA) (OTCQB: MDXXF) is a biotechnology\ncompany focused on the research, development, and manufacturing of MDXX class\nmolecules, including MDMA. PharmAla was founded with a dual focus: alleviating\nthe global backlog of generic, clinical-grade MDMA to enable clinical trials\nas well as commercial sales in selected jurisdictions, and to develop novel\ndrugs in the same class. PharmAla is the only company currently provisioning\nclinical-grade MDMA for patient treatments outside of clinical trials.\nPharmAla’s research and development unit has completed proof-of-concept\nresearch into several IP families, including ALA-002, its lead drug candidate.\nPharmAla is a “regulatory first” organization, formed under the principle\nthat true success in the psychedelics industry will only be achieved through\nexcellent relationships with regulators.\n\nFor more information, please contact:\nNicholas Kadysh\nChief Executive Officer\nPharmAla Biotech Holdings Inc.\nEmail: press@PharmAla.ca\nPhone: 1-855-444-6362\nWebsite: www.PharmAla.ca\n\nNeither the CSE nor its Regulation Services Provider have reviewed or accept\nresponsibility for the adequacy or accuracy of this release.\n\nCautionary Note Regarding Forward-Looking Statements\n\nThis press release contains “forward-looking statements” within the\nmeaning of applicable securities laws. All statements contained herein that\nare not clearly historical in nature may constitute forward-looking\nstatements. Generally, such forward-looking information or forward-looking\nstatements can be identified by the use of forward-looking terminology such as\n“plans”, “strategy”, “expects” or “does not expect”,\n“intends”, “continues”, “anticipates” or “does not\nanticipate”, or “believes”, or variations of such words and phrases or\nmay contain statements that certain actions, events or results “will be\ntaken”, “will launch” or “will be launching”, “will include”,\n“will allow”, “will be made” “will continue”, “will occur” or\n“will be achieved”. We direct readers to refer to the “Caution Regarding\nForward-Looking Statements” contained within the Company’s management’s\ndiscussion and analysis for the period ended February 28, 2026, as filed on\nSedar+ www.sedarplus.ca.\n\nReaders are cautioned to not place undue reliance on forward-looking\ninformation. Actual results and developments may differ materially from those\ncontemplated by these statements. Although the Company believes that the\nexpectations reflected in these statements are reasonable, such statements are\nbased on expectations, factors, and assumptions concerning future events which\nmay prove to be inaccurate and are subject to numerous risks and\nuncertainties, certain of which are beyond the Company’s control, including\nbut not limited to the risk factors discussed in the Company’s\nmanagement’s discussion and analysis, and elsewhere in this press release,\nas such factors may be further updated from time to time in our periodic\nfilings, available at www.sedarplus.ca, which factors are incorporated herein\nby reference. Forward-looking statements contained in this press release are\nexpressly qualified by this cautionary statement and reflect the Company’s\nexpectations as of the date hereof and are subject to change thereafter. The\nCompany undertakes no obligation to update or revise any forward-looking\nstatements, whether as a result of new information, estimates or opinions,\nfuture events or results, or otherwise, or to explain any material difference\nbetween subsequent actual events and such forward-looking information, except\nas required by applicable law.\n\nThis press release shall not constitute an offer to sell or the solicitation\nof an offer to buy nor shall there be any sale of the securities in any state\nin which such offer, solicitation or sale would be unlawful. The securities\nbeing offered have not been, nor will they be, registered under the United\nStates Securities Act of 1933, as amended, and may not be offered or sold in\nthe United States absent registration or an applicable exemption from the\nregistration requirements of the United States Securities Act of 1933, as\namended, and applicable state securities laws.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/20158980-8674-43e3-a0be-a10dca42410d)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX3fBs01","title":"PharmAla Issues Q2 Financial Statements and Grants Options","author":"Globe Newswire","ticker":"MDXXF","created":"2026-04-21T20:05:00.449Z","tickers":["MDXXF","MDMA"],"exchange":"OTC","article_body":"TORONTO, April 21, 2026 (GLOBE NEWSWIRE) -- PharmAla Biotech Holdings Inc.\n(“PharmAla” or the “Company”) (CSE: MDMA) (OTC: MDXXF), a\nbiotechnology company focused on the research, development, and manufacturing\nof LaNeo™ MDMA and novel derivatives of MDMA (MDXX class molecules), is\npleased to have publicly filed its financial and operational results for the\nperiod ended February 28, 2026. All figures are reported in Canadian dollars.\nThe Company’s full set of unaudited condensed interim consolidated financial\nstatements for the quarter and accompanying management’s discussion and\nanalysis can be accessed by visiting the Company’s website at\nwww.PharmAla.ca and its profile page on SEDAR+ at www.sedarplus.ca.\n\n“PharmAla’s financial position continues to benefit from an operational\nfocus by the Company’s management,” said Nick Kadysh, Founding CEO.\n“PharmAla continues to be the only Psychedelics company that has worked to\nunderstand and continually improve commercial implications, in Australia and\nbeyond; As Psychedelics advance rapidly towards commercialization globally,\nthis operational know-how will become only more valuable.”\n\nFinancial Highlights:\n* Customer deposits have continued to grow by $310,719 through Q2, offset by\nrecognition of revenue of $181,492. These deposits, generally being 50% of the\ntotal contract value, can be recognized along with the remaining revenue when\nthe related product is shipped, which for many customers requires the issuance\nof their clinical trial and/or import permits from relevant regulatory bodies.\n* Revenues for the three and six months ended February 28, 2026 were $220,584\nand $487,024 compared to $145,657 and $202,954 for the three and six months\nended February 28, 2025.\n* Net loss and comprehensive loss for the three and six months ended February\n28, 2026 were $337,696 and $747,391 compared to $810,766 and $1,289,875 for\nthe three and six months ended February 28, 2025.\n* Cash used in operating activities was $366,396 for the six months ended\nFebruary 28, 2026 compared to $491,721 for the six months ended February 28,\n2025.\n“Through Q2 2026, we have continued to see increased demand for our product,\nculminating in a steady increase in customer deposits,” said Will Avery,\nCFO, PharmAla Biotech. “With our proven supply chain in the U.S. and\nAustralia we have been able to convert customer deposits into revenue at an\nimproved rate.”\n\nIssuance of Options:\nPharmAla has issued options to the following Board Members and Officers. The\noptions are issued subject to a vesting period, such that every 3 months 25%\nof the allotment will be vested, such that the options shall be fully vested\non the 12 month anniversary of the date of grant, which is April 20, 2026. The\noptions have a fixed exercise price per share of $0.10 (subject to adjustment\nin accordance with the terms of the Plan and/or stock option agreement). All\nvested but unexercised options shall expire and cease to be of effect on April\n20, 2031.\n\n Name of Optionee    Position                 Number of Options  \n Jodi Butts          Director                 350,000            \n Kevin Roy           Director                 250,000            \n Fraser Macdonald    Director                 250,000            \n Perry Tsergas       Director                 250,000            \n Lennie Ryer         Director                 250,000            \n Nicholas Kadysh     Chief Executive Officer  1,000,000          \n Will Avery          Chief Financial Officer  1,000,000          \n Farnoud Kazemzadeh  Chief Operating Officer  1,000,000          \n Harpreet Kaur       Employee                 500,000            \n Total                                        4,850,000          \n                                                                 \n                                                                 \n\nCorporate Leadership Change\n\nThe Company regretfully announces that Ali Taghva will transition out of his\nrole as Chief Commercial Officer to focus on other projects. Mr. Taghva will\nleave the role of Chief Commercial Officer effective immediately, and will\nfully transition out of the company by July 2026.\n\nAbout PharmAla\n\nPharmAla Biotech Holdings Inc. (CSE: MDMA) (OTCQB: MDXXF) is a biotechnology\ncompany focused on the research, development, and manufacturing of MDXX class\nmolecules, including MDMA. PharmAla was founded with a dual focus: alleviating\nthe global backlog of generic, clinical-grade MDMA to enable clinical trials\nas well as commercial sales in selected jurisdictions, and to develop novel\ndrugs in the same class. PharmAla is the only company currently provisioning\nclinical-grade MDMA for patient treatments outside of clinical trials.\nPharmAla’s research and development unit has completed proof-of-concept\nresearch into several IP families, including ALA-002, its lead drug candidate.\nPharmAla is a “regulatory first” organization, formed under the principle\nthat true success in the psychedelics industry will only be achieved through\nexcellent relationships with regulators.\n\nFor more information, please contact:\nNicholas Kadysh\nChief Executive Officer\nPharmAla Biotech Holdings Inc.\nEmail: press@PharmAla.ca\nPhone: 1-855-444-6362\nWebsite: www.PharmAla.ca\n\nNeither the CSE nor its Regulation Services Provider have reviewed or accept\nresponsibility for the adequacy or accuracy of this release.\n\nCautionary Note Regarding Forward-Looking Statements\n\nThis press release contains “forward-looking statements” within the\nmeaning of applicable securities laws. All statements contained herein that\nare not clearly historical in nature may constitute forward-looking\nstatements. Generally, such forward-looking information or forward-looking\nstatements can be identified by the use of forward-looking terminology such as\n“plans”, “strategy”, “expects” or “does not expect”,\n“intends”, “continues”, “anticipates” or “does not\nanticipate”, or “believes”, or variations of such words and phrases or\nmay contain statements that certain actions, events or results “will be\ntaken”, “will launch” or “will be launching”, “will include”,\n“will allow”, “will be made” “will continue”, “will occur” or\n“will be achieved”. We direct readers to refer to the “Caution Regarding\nForward-Looking Statements” contained within the Company’s management’s\ndiscussion and analysis for the period ended February 28, 2026, as filed on\nSedar+ www.sedarplus.ca.\n\nReaders are cautioned to not place undue reliance on forward-looking\ninformation. Actual results and developments may differ materially from those\ncontemplated by these statements. Although the Company believes that the\nexpectations reflected in these statements are reasonable, such statements are\nbased on expectations, factors, and assumptions concerning future events which\nmay prove to be inaccurate and are subject to numerous risks and\nuncertainties, certain of which are beyond the Company’s control, including\nbut not limited to the risk factors discussed in the Company’s\nmanagement’s discussion and analysis, and elsewhere in this press release,\nas such factors may be further updated from time to time in our periodic\nfilings, available at www.sedarplus.ca, which factors are incorporated herein\nby reference. Forward-looking statements contained in this press release are\nexpressly qualified by this cautionary statement and reflect the Company’s\nexpectations as of the date hereof and are subject to change thereafter. The\nCompany undertakes no obligation to update or revise any forward-looking\nstatements, whether as a result of new information, estimates or opinions,\nfuture events or results, or otherwise, or to explain any material difference\nbetween subsequent actual events and such forward-looking information, except\nas required by applicable law.\n\nThis press release shall not constitute an offer to sell or the solicitation\nof an offer to buy nor shall there be any sale of the securities in any state\nin which such offer, solicitation or sale would be unlawful. The securities\nbeing offered have not been, nor will they be, registered under the United\nStates Securities Act of 1933, as amended, and may not be offered or sold in\nthe United States absent registration or an applicable exemption from the\nregistration requirements of the United States Securities Act of 1933, as\namended, and applicable state securities laws.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/20158980-8674-43e3-a0be-a10dca42410d)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-04-21T20:05:00.484614749Z","server_sent_at_ms":1776801900484},"received_at":"2026-04-21T20:05:00.537Z","source_url":"https://www.globenewswire.com/news-release/2026/04/21/3278419/0/en/pharmala-issues-q2-financial-statements-and-grants-options.html"},"analysis":{"id":"2393","press_release_id":"3516","analysis_json":{"industry":{"label":"Pharmaceuticals, Biotechnology & Life Sciences","sector":"Health Care"},"redFlags":["Chief Commercial Officer Ali Taghva departing effective immediately, transitioning out by July 2026 without named successor"],"eventType":"earnings","narrative":"PharmAla reported its Q2 financial results, showing a 51% year-over-year increase in three-month revenue to $220,584 and a 140% rise in six-month revenue to $487,024.\n\nThe company narrowed its six-month net loss to $747,391 from $1.29 million in the prior year, while cash used in operations decreased by approximately 25% to $366,396.\n\nPharmAla granted 4.85 million stock options to directors, officers, and employees at an exercise price of $0.10, and announced the departure of Chief Commercial Officer Ali Taghva effective July 2026.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Revenue doubles and losses narrow as PharmAla scales operations, though CCO departure clouds near-term commercial execution."},"keyFigures":{"revenue":"$220,584","revenueYoy":"51%","customDimensions":{"revenue_6mo":"$487,024","net_loss_6mo":"$747,391","exercise_price":"$0.10","options_granted":"4,850,000","revenue_6mo_yoy":"140%","prior_net_loss_6mo":"$1,289,875"}},"quotedText":"PharmAla’s financial position continues to benefit from an operational focus by the Company’s management","namedEntities":{"people":[{"name":"Nick Kadysh","role":"CEO"},{"name":"Will Avery","role":"CFO"},{"name":"Ali Taghva","role":"Chief Commercial Officer"},{"name":"Jodi Butts","role":"Director"},{"name":"Kevin Roy","role":"Director"},{"name":"Fraser Macdonald","role":"Director"},{"name":"Perry Tsergas","role":"Director"},{"name":"Lennie Ryer","role":"Director"},{"name":"Farnoud Kazemzadeh","role":"COO"},{"name":"Harpreet Kaur","role":"Employee"}],"products":["LaNeo™ MDMA","MDXX class molecules","ALA-002"],"companies":[{"name":"PharmAla Biotech Holdings Inc.","ticker":"MDXXF"}],"dollarAmounts":[{"amount":"$310,719","context":"growth in customer deposits through Q2"},{"amount":"$181,492","context":"recognized revenue offsetting deposits"},{"amount":"$220,584","context":"revenue for three months ended Feb 28, 2026"},{"amount":"$487,024","context":"revenue for six months ended Feb 28, 2026"},{"amount":"$145,657","context":"revenue for three months ended Feb 28, 2025"},{"amount":"$202,954","context":"revenue for six months ended Feb 28, 2025"},{"amount":"$337,696","context":"net loss for three months ended Feb 28, 2026"},{"amount":"$747,391","context":"net loss for six months ended Feb 28, 2026"},{"amount":"$366,396","context":"cash used in operating activities for six months ended Feb 28, 2026"},{"amount":"$0.10","context":"exercise price per share for issued options"}]},"materialImpact":{"score":3,"reasoning":"The company reported significant operational improvements with 6-month revenue increasing 140% year-over-year and net losses narrowing by ~42%. While dollar amounts are small, the trajectory is positive, offset by the departure of the CCO."},"tickerRelevance":{"others":[{"ticker":"MDMA","relevance":"primary"}],"primary":"MDXXF"},"eventTypeSecondary":["executive_change"]},"event_type":"earnings","event_type_secondary":["executive_change"],"sentiment":"bullish","material_impact_score":3,"narrative":"PharmAla reported its Q2 financial results, showing a 51% year-over-year increase in three-month revenue to $220,584 and a 140% rise in six-month revenue to $487,024.\n\nThe company narrowed its six-month net loss to $747,391 from $1.29 million in the prior year, while cash used in operations decreased by approximately 25% to $366,396.\n\nPharmAla granted 4.85 million stock options to directors, officers, and employees at an exercise price of $0.10, and announced the departure of Chief Commercial Officer Ali Taghva effective July 2026.","key_figures":{"revenue":"$220,584","revenueYoy":"51%","customDimensions":{"revenue_6mo":"$487,024","net_loss_6mo":"$747,391","exercise_price":"$0.10","options_granted":"4,850,000","revenue_6mo_yoy":"140%","prior_net_loss_6mo":"$1,289,875"}},"named_entities":{"people":[{"name":"Nick Kadysh","role":"CEO"},{"name":"Will Avery","role":"CFO"},{"name":"Ali Taghva","role":"Chief Commercial Officer"},{"name":"Jodi Butts","role":"Director"},{"name":"Kevin Roy","role":"Director"},{"name":"Fraser Macdonald","role":"Director"},{"name":"Perry Tsergas","role":"Director"},{"name":"Lennie Ryer","role":"Director"},{"name":"Farnoud Kazemzadeh","role":"COO"},{"name":"Harpreet Kaur","role":"Employee"}],"products":["LaNeo™ MDMA","MDXX class molecules","ALA-002"],"companies":[{"name":"PharmAla Biotech Holdings Inc.","ticker":"MDXXF"}],"dollarAmounts":[{"amount":"$310,719","context":"growth in customer deposits through Q2"},{"amount":"$181,492","context":"recognized revenue offsetting deposits"},{"amount":"$220,584","context":"revenue for three months ended Feb 28, 2026"},{"amount":"$487,024","context":"revenue for six months ended Feb 28, 2026"},{"amount":"$145,657","context":"revenue for three months ended Feb 28, 2025"},{"amount":"$202,954","context":"revenue for six months ended Feb 28, 2025"},{"amount":"$337,696","context":"net loss for three months ended Feb 28, 2026"},{"amount":"$747,391","context":"net loss for six months ended Feb 28, 2026"},{"amount":"$366,396","context":"cash used in operating activities for six months ended Feb 28, 2026"},{"amount":"$0.10","context":"exercise price per share for issued options"}]},"model_name":"glm-4.7","prompt_hash":"sha256:2f2748f0fcc8c4f2","schema_hash":"sha256:ad96b863d7123008","created_at":"2026-04-21T23:56:12.275Z","global_importance":3,"audience_relevance":3,"importance_components":{"method":"backfill-heuristic","signals":{"bodyLong":false,"headlineTier1":false,"tickerCovered":false,"hadSignificance":false},"version":1,"computedAt":"2026-04-27T11:52:53.701Z"}},"durationMs":90567,"modelName":"glm-4.7"}}