Interim Results

CRISM Therapeutics Corporation

21 September 2026

 

21 September 2026

CRISM Therapeutics Corporation

(“CRISM”, “CRISM Therapeutics”, the “Company” or the “Group”)

Half Year Report for the six month period ended 30 June 2026

CRISM Therapeutics Corporation (AIM: CRTX), a UK clinical-stage drug delivery company focused on the localised and sustained delivery of chemotherapy drugs, today announces its unaudited half-year results for the six months ended 30 June 2026 (the “Period”).

The Company has made encouraging progress during the Period, advancing its proprietary ChemoSeed™ drug delivery technology and opening its Phase 2 clinical trial, a significant milestone.  ChemoSeed is an implantable, biodegradable technology designed for the localised and sustained delivery of chemotherapy directly into cancer tissue, thereby improving clinical performance. ChemoSeed has an attractive risk profile owing to its use of pre-approved chemotherapy drugs such as irinotecan.

CRISM’s initial therapeutic focus is in glioblastoma, an aggressive form of brain tumour, owing to the significant unmet need and attractive market size, estimated at $2.5 billion in 2026 (rising to $5.0 billion in 2033). The Board believes ChemoSeed has the potential to be a platform technology for other solid tumours, such as prostate, pancreatic and bladder, and the Company is in the second year of its development programme targeting prostate cancer, a significant market and the most prevalent cancer in men.

Highlights in the year to date

• Commenced patient recruitment on 27 August 2026 for the open label, registration grade Phase 2 clinical trial of irinotecan-ChemoSeed in resectable (i.e. suitable for surgery) glioblastoma
• Awarded an £896,088 grant by Innovate UK in its Biomedical Catalyst 2025: Industry-Led R&D Large Projects funding competition to support the clinical development of ChemoSeed in glioblastoma which commenced in June 2026
• Awarded a £99,902 grant by Invest Northern Ireland to accelerate technical, pre-clinical and regulatory activities for the docetaxel-ChemoSeed prostate cancer programme which commenced on 1 June 2026
• Granted orphan drug designation by the US FDA for irinotecan-ChemoSeed providing key regulatory incentives including a potential seven years of US market exclusivity upon approval
• Announced positive pre-clinical data for docetaxel-ChemoSeed in prostate cancer, demonstrating a 58% reduction in tumour volume compared to standard of care and with superior tolerability
• Raised £2.745 million via an oversubscribed placing and retail offer in May 2026
• Strengthened the Board with the appointment of Charles Spicer as Non-Executive Chair
• Net cash at 18 September 2026 of £1.9 million.

Commenting on the Interim Results, CRISM CEO Andrew Webb said: "2026 has been a period of substantial operational execution and strategic progress. Completing our oversubscribed £2.75 million fundraise, alongside the prestigious £896,000 Innovate UK Biomedical Catalyst grant award, which scored 90.6% in evaluation, together provide strong non-dilutive and shareholder backing for our lead clinical programme.

"During the Period we secured FDA Orphan Drug Designation, a major international regulatory milestone. Combined with our UK MHRA Innovation Passport under the ILAP framework, this designation significantly enhances the commercial profile of irinotecan-ChemoSeed and establishes a supportive framework for international regulatory engagement and potential streamlined global development.

"With patient recruitment now active at our lead NHS site, we are focused on progressing Part 1 of our Phase 2 registration-grade trial in glioblastoma, with first patient dosing expected shortly. Additionally, positive preclinical data for our docetaxel-ChemoSeed programme in prostate cancer continues to demonstrate the broader versatility and commercial appeal of our drug delivery platform.  Supported by a strengthened financial position, we look forward to delivering on key operational and clinical milestones through the remainder of the year and beyond."

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

-Ends

Enquiries:

Company	Nomad and Broker	Financial PR
CRISM Therapeutics Corporation	S.P. Angel Corporate Finance LLP	Burson Buchanan
Andrew Webb, CEO Chris McConville, CSO	David Hignell Vadim Alexandre Adam Cowl	Henry Harrison Topham Jamie Hooper [e-mail]
via Burson Buchanan	[phone]	[phone]

About CRISM Therapeutics Corporation

CRISM Therapeutics Corporation has developed an innovative drug delivery technology to improve the clinical performance of cancer treatments for solid tumours through the local delivery of chemotherapy drugs.

ChemoSeed, CRISM’s lead product, can be implanted directly into the tumour or the resection margin following the removal of a tumour. This ensures that therapeutic concentrations of chemotherapy drugs reach the deep-seated tumour tissue or cover the entire resection margin. In the case of treating glioblastoma, ChemoSeeds can be implanted during surgery thereby bypassing the blood brain barrier, which prevents other treatments from being able to reach the tumour and be effective.

CRISM has commenced recruitment at the Company’s first clinical site for its registration-grade Phase 2 clinical trial of irinotecan-ChemoSeed in patients with surgically resectable glioblastoma.

For more information please visit: https://www.crismtherapeutics.com/

The Company's LEI is 213800XFW6MKVCHHPW88.

CEO REPORT

During the Period, we achieved a landmark operational milestone by initiating our registration-grade Phase 2 clinical trial of irinotecan-ChemoSeed in resectable (i.e. suitable for surgery) glioblastoma. Patient recruitment is now underway for Part 1 of the two-part study, focusing on dose escalation in patients with recurrent glioblastoma. Part 2 will subsequently evaluate efficacy, based on progression-free survival, in newly diagnosed glioblastoma patients.

Beyond glioblastoma, we continue to demonstrate ChemoSeed’s potential as a platform technology across other solid tumours. We are developing docetaxel-ChemoSeed for advanced prostate cancer, the most prevalent cancer in men, to deliver the standard-of-care drug locally rather than systemically, aiming to maximise efficacy while minimising toxicity.

This strategy was validated by positive pre-clinical data announced in April 2026, where docetaxel-ChemoSeed demonstrated significant anti-tumour activity, a clear dose-response relationship, and a 58% reduction in tumour volume compared to standard-of-care systemic docetaxel, with no adverse tolerability effects observed.

To accelerate this programme, the Company was awarded a £99,902 grant from Invest Northern Ireland in June 2026 to support technical, pre-clinical, and regulatory activities over the next 12 months. This progress builds upon the positive pre-clinical data, positioning CRISM to target a substantial global market projected to grow from $13.5 billion in 2025 to $29.9 billion by 2034 (Global Market Insights Inc. Report: GMI10189: March 2025).

CRISM has been successful in securing non-dilutive funding owing to our innovative technology, and we continue to explore further grant and other non-dilutive funding. 

Intellectual Property (IP) Development

CRISM recognises the importance of obtaining and protecting its intellectual property and the relevant intellectual property for ChemoSeed has been assigned to CRISM. As of 30 June 2026, the Company has patents granted in EU and Japan, as announced in January 2026, with IP protection progressing in USA and China with an additional filing in Hong Kong.  

People and Organisation

Following authorisation of the Company’s clinical trial in glioblastoma the Scientific Advisory Board (SAB) has been actively involved in the setup of the clinical trial at the University Hospitals Birmingham NHS Foundation Trust which is recruiting patients.   The SAB comprises Garth Cruickshank, Emeritus Professor of Neurosurgery at the University of Birmingham and Dr. Vinton Cheng, Associate Clinical Professor and Honorary Consultant in Medical Oncology at the University of Birmingham.

CRISM has now appointed, Juliet Connor, an experienced clinical trials manager to oversee and support our CRO (contract research organisation) partner, Harvest Integrated Research Organisation (HiRO), formerly Aixial Group.

The Directors of CRISM are cognisant of the importance of minimising overheads given its stage of development and as such the Group’s management team continues to outsource a number of functions including contract development, clinical research and certain administrative functions.

The Executive and Non-Executive Directors returned to their contractual salaries having agreed to a 50% reduction in their remuneration for the six months which concluded in March 2026.  Dr Nermeen Varawalla, Non-Executive Chair, resigned from the Board to pursue other professional interests in April 2026.  Nermeen was appointed at the Company’s Admission to AIM in May 2024 and the Board would like to thank her for her valuable contribution to the Company.

CRISM has appointed Charles Spicer as Non-Executive Chair, effective 1 October 2026.  Charles is an experienced chair and director specialising in medtech and life sciences.

On 30 June the Company granted share options to the directors at an exercise price of £0.10 per share. The awards have been made under the Company's existing EMI Share Option Plan.  The options will vest as to one-third on grant, one-third on the first anniversary of grant and one-third on the second anniversary of grant.  The options will become exercisable on the second anniversary of grant and expire on 30 June 2036, being 10 years from the date of grant.

Financial Review

These interim financial statements present results for the Group for the period from 1 January to 30 June 2026 and the comparative results are that of the Group for the period from 1 January to 30 June 2025.

The Group recognised a loss for the Period of £1.413m (H1 2025: £0.93m). Administration expenses amounted to £1.52m (H1 2025: £0.9m), which includes research and development of £956k, Directors fees of £96k, professional fees of £150k, insurance of £45k, and consulting fees of £146k. 

At a General Meeting on 15 June 2026 shareholders approved the issue of 22,500,000 Conditional Placing Shares and 2,450,000 Retail Offer Shares. Trading commenced in the Shares on 16 June 2026.  In addition, 25,000,000 Warrants, exercisable at a price of 15 pence per ordinary share and expiring on 16 December 2027, were granted to subscribers for the Placing Shares.  Following Admission, the total issued share capital of the Company consists of 79,185,266 Ordinary Shares.

As of 30 June 2026, the Company held £2.269m in cash (31 December 2025: £1.128m).

Outlook

CRISM is positioned for a period of significant clinical execution as we progress through the remainder of 2026 and into 2027. Following the activation of our lead clinical site at University Hospitals Birmingham NHS Foundation Trust, patient recruitment is actively underway for our registration-grade Phase 2 trial in glioblastoma, with first patient dosing expected shortly. The two-part trial will first evaluate dose escalation in recurrent glioblastoma before assessing progression-free survival in newly diagnosed patients.

Capital raised from our oversubscribed £2.75 million fundraise in May 2026, combined with non-dilutive grant awards from Innovate UK and Invest Northern Ireland, provide a clear runway to execute our Phase 2 clinical milestones in glioblastoma. We are also well positioned to expand our docetaxel-ChemoSeed prostate cancer programme following the Invest NI grant funding. We continue to actively explore further non-dilutive funding opportunities.

Supported by FDA Orphan Drug Designation, MHRA Innovation Passport status, and a granted and pending patent portfolio across key global markets, the Board looks ahead with strong confidence as we work to redefine solid tumour treatment and generate substantial, long-term shareholder value.

Andrew Webb

Chief Executive Officer

18 September 2026

CRISM THERAPEUTICS CORPORATION consolidated STATEMENT OF FINANCIAL POSITION AS AT 30 June 2026 (Amounts in thousands of GBP)
	Notes		Unaudited 6 Months ended 30 June 2026		Unaudited 6 Months ended 30 June 2025		Restated Audited Year ended 31 December 2025
Non-current assets
Property, plant & equipment			28		44		36
Intangible assets			114		141		104
			142		185		140
Current assets
Other receivables			511		1,201		529
Cash and cash equivalents			2,269		349		1,128
			2,780		1,550		1,657
Total assets			2,922		1,735		1,797
Current liabilities
Trade and other payables	6		343		425		431
			343		425		431
Total liabilities			343		425		431
Net assets			2,579		1,310		1,366
Equity
Share capital	7		70,692		66,225		68,068
Share premium	7		3,360		3,360		3,360
Shares to be issued	7		-		762		-
Reverse acquisition reserve			(57,575)		(57,575)	-	(57,575)
Foreign currency translation reserve			(9,325)		(9,322)	(	(9,324)
Share option reserve	8		1		(2)		(2)
Share warrant reserve	8		1,431		-		560
Accumulated deficit			(6,005)		(2,138)		(3,721)
Total equity			2,579		1,310		1,366

  Approved on behalf of the Board on 18 September 2026 

Andrew Webb

Chief Executive Officer 

CRISM THERAPEUTICS CORPORATION CONSOLIDATED STATEMENT of COMPREHENSIVE INCOME FOR THE six months ENDED 30 June 2026 (Amounts in thousands of GBP)
	Notes	Unaudited 6 Months ended 30 June 2026		Unaudited 6 Months ended 30 June 2025		Restated Audited Year ended 31 December 2025
Revenue		-		-		-
Other income		121		-		231
Cost of sales		(29)		(3)		(100)
Gross profit/(loss)		92		(3)		131
Administrative expenses		(1,520)		(905)		(2,059)
Operating loss		(1,428)		(908)		(1,928)
Net finance costs		-		-		-
Loss from continuing operations before taxation		(1,428)		(908)		(1,928)
Taxation credit		10		-		2
Loss from continuing operations		(1,418)		(908)		(1,926)
Discontinued operations:
Gain/(loss) from discontinued operations		5		(22)		(27)
Loss for the year		(1,413)		(930)		(1,953)
Loss for the period / year attributable to owners of the parent		(1,413)		(930)		(1,953)
Other Comprehensive loss:
Items that could be reclassified to profit or loss
Exchange differences on translation of foreign operations		(1)		3		1
Total comprehensive loss for the period / year attributable to owners of the parent		(1,414)		(927)		(1,952)
Loss per share attributable to owners of the Parent – Basic & Diluted	5	£ (0.026)		£(0.028)		£(0.053)

CRISM THERAPEUTICS CORPORATION CONSOLIDATED STATEMENT of CASH FLOWS FOR THE six months ENDED 30 June 2026 (Amounts in thousands of GBP)
		Unaudited 6 Months ended 30 June 2026		Unaudited 6 Months ended 30 June 2025		Restated Audited Year ended 31 December 2025
Cash flows used in operating activities:
Loss before taxation		(1,413)		(930)		(1,953)
Adjusted for:
Depreciation		8		8		16
Amortisation		1		-		1
Non-cash movement – Discontinued operations		(10)		-		-
Decrease/(Increase) in trade and other receivables		19		(31)		(121)
Increase/(Decrease) in trade and other payables		(88)		84		90
Expiry of options		2		-		-
Net cash outflow from operating activities		(1,481)		(869)		(1,967)
Cash flow used in investing activities:
Purchase of intangible assets		(11)		(67)		(31)
Net cash outflow from discontinuation of subsidiary		10		-		-
Net cash used in investing activities		(1)		(67)		(31)
Cash flow from financing activities:
Proceeds from the issue of ordinary shares		2,745		-		1,934
Cost of share issue		(121)		-		(91)
Net cash generated from financing activities		2,624		-		1,843
Net (decrease)/increase in cash and cash equivalents		1,142		(936)		(155)
Cash and cash equivalents at beginning of period / year		1,128		1,282		1,282
Effect of foreign exchange rates		(1)		3		1
Cash and cash equivalents at end of period / year		2,269		349		1,128

CRISM THERAPEUTICS CORPORATION CONSOLIDATED STATEMENT of CHANGES IN EQUITY FOR THE six months ENDED 30 June 2026 (Amounts in thousands of GBP)
	Share Capital	Share Premium	Shares to be issued	Reverse Acquisition Reserve	Share Options Reserve		Share Warrant Reserve	Foreign Currency Translation Reserve		Accumulated Deficit		Total
At 1 January 2026 - Restated	68,068	3,360	-	(57,575)	(2)		560	(9,324)		(3,721)		1,366
Loss for the period	-	-	-	-	-		-	-		(1,413)		(1,413)
Other comprehensive loss:
Exchange differences of translation of foreign operations	-	-	-	-	-		-	(1)		-		(1)
Total comprehensive income for the period	-	-	-	-	-		-	(1)		(1,413)		(1,414)
Transaction with owners:
Shares issued during the period	2,745	-	-	-	-		-	-		-		2,745
Cost of capital	(121)	-	-	-	-		-	-		-		(121)
Fair value recognition of warrants issued during the period	-	-	-	-	-		871	-		(871)		-
Fair value recognition of options issued during the period	-	-	-	-	1		-	-		-		1
Expiry of options	-	-	-	-	2		-	-		-		2
At 30 June 2026 (unaudited)	70,692	3,360	-	(57,575)	1		1,431	(9,325)		(6,005)		2,579
At 1 January 2025	66,225	3,360	-	(57,575)	(2)		-	(9,325)		(1,208)		1,475
Loss for the period	-	-	-	-	-		-	-		(930)		(930)
Other comprehensive loss:
Exchange differences of translation of foreign operations	-	-	-	-	-		-	3		-		3
Total comprehensive income for the period	-	-	-	-	-		-	3		(930)		(927)
Transactions with owners:
Shares issued during the period	-	-	800	-	-		-	-		-		800
Cost of capital	-	-	(38)	-	-		-	-		-		(38)
At 30 June 2025 (unaudited)	66,225	3,360	762	(57,575)	(2)		-	(9,322)		(2,138)		1,310

At 1 January 2025	66,225	3,360	-	(57,575)	(2)	-	(9,325)	(1,208)	1,475
Loss for the year	-	-	-	-	-	-	-	(1,953)	(1,953)
Other comprehensive loss:
Exchange differences on translating foreign operations	-	-	-	-	-	-	1	-	1
Total comprehensive loss for the year	-	-	-	-	-	-	1	(1,953)	(1,952)
Transactions with owners:
Shares issued during the period	1,934	-	-	-	-	-	-	-	1,934
Cost of capital – share issue costs	(91)	-	-	-	-	-	-	-	(91)
Fair value recognition of warrants issued during the period	-	-	-	-	-	560	-	(560)	-
As at December 2025 (audited) - Restated	68,068	3,360	-	(57,575)	(2)	560	(9,324)	(3,721)	1,366

CRISM THERAPEUTICS CORPORATION

NOTES TO THE FINANCIAL INFORMATION

FOR THE six months ENDED 30 June 2026

(Amounts in thousands of GBP)

1.                    Reporting Entity 

CRISM Therapeutics Corporation (the "Company") is a company registered in the British Virgin Islands. The consolidated interim financial information as at and for the six months ended 30 June 2026 comprise the results of the Company and its subsidiaries (together referred to as the "Group").

The Group has a principal activity being a biotechnology company, focused on the development of innovative drug delivery technology to improve the clinical performance of cancer treatments for solid tumours through the local delivery of chemotherapy drugs.

2.                    PRIOR YEAR RESTATEMENT

The Group has identified an omission in its results presented for the year ended 31 December 2025 which gives rise to a prior year restatement due to its quantum. The error relates to an omitted invoice relating to services provided in 2025 totalling £50,000 and has resulted in accruals and administration expenses for the year ended 31 December 2025 being understated. The error arose as a result of the invoice being identified as missing after the finalisation of the 2025 financial statements. 

An adjustment to correct the error has been made retrospectively in the financial statements and the Group results for the year ended 31 December 2025 have been restated. The Group and Parent results for the year ended 31 December 2024 remain unaffected and have therefore not been presented.

The impact of the prior year restatement is an increase to administration expenses for the year by £50,000 and an increase to accruals by £50,000.

The affected line items in the Consolidated Statement of Financial Position and Consolidated Statement of Comprehensive Income for the year ended 31 December 2025 are shown as follows:

		As previously reported Year ended 31 December 2025 £’000	Correction of error £’000	Year ended 31 December 2025 Restated £’000
Accruals		93	50	143
Administrative expenses		2,009	50	2,059
Retained earnings		(3,671)	(50)	(3,721)

The effects on the loss per share for the year ended 31 December 2025 are shown as follows:

	As previously reported Year ended 31 December 2025	Correction of error	Year ended 31 December 2025 Restated
Net loss for the year attributable to equity shareholders (expressed in £‘000)	(1,876)	(50)	(1,926)
Basic loss per share	£ (0.051)	£ (0.002)	£ (0.053)

3.                    BASIS OF PREPARATION

The financial information set out in this report is based on the consolidated financial information of CRISM Therapeutics Corporation and its subsidiary companies. The financial information of the Group for the 6 months ended 30 June 2026 was approved and authorised for issue by the Board on 18 September 2026. The interim results have not been audited. This financial information has been prepared in accordance with the accounting policies that are expected to be applied in the Report and Accounts of CRISM Therapeutics Corporation for the year ended 31 December 2025 and are consistent with the recognition and measurement requirements of IFRS as issued by the International Accounting Standards Board ("IASB") and interpretations issued by the International Financial Reporting Interpretations Committee ("IFRIC").

The Group financial information is presented in GBP and values are rounded to the nearest thousand Pounds.

The same accounting policies, presentation and methods of computation are followed in the interim consolidated financial information as were applied in the Group's latest annual financial statements. 

New standards and interpretations effective for the first time for periods beginning on (or after) 1 January 2026 have been determined by management to have no impact on these interim financial statements.

The consolidated financial information incorporates the results of CRISM Therapeutics Corporation and its subsidiaries undertakings as at 30 June 2026.  The corresponding amounts are for the year ended 31 December 2025 and for the 6 month period ended 30 June 2025.

4.                    GOING CONCERN

The Group’s business activities, together with the factors likely to affect its future development, performance and position, are set out in the CEO’s Report. 

As of 30 June 2026, the Group has cash resources amounting to £2,269,000 and whilst the Group is not currently generating commercial revenue, it has been awarded grant funding in 2026 which will cover a substantial portion of the planned clinical trial expenditure. Furthermore, in June 2026 the Company completed an equity issue, raising approximately £2.75 million. This allows the Group to fund the clinical trial, prostate cancer treatment, operations, corporate overheads and continue as a going concern for the foreseeable future. 

Following modelled sensitised scenarios, management have considered various cost saving measures that could be implemented should the Group's cash burn be accelerated or to mitigate against any unforeseen circumstances that may arise.

The Directors, therefore, have made an informed judgement, at the time of approving this financial information that there is a reasonable expectation that the Company has adequate resources to continue in operational existence. On this basis, the Directors have continued to adopt the going concern basis of accounting in preparing this financial information.

5.                    LOSS PER SHARE

Basic and diluted loss per share is calculated and set out below. The effects of warrants and share options outstanding at the period end are anti-dilutive as they will serve to reduce the loss per share.

	Unaudited 6 Months ended 30 June 2026	Unaudited 6 Months ended 30 June 2025	Restated Audited Year ended 31 December 2025
Continuing operations:
Net loss for the year attributable to equity shareholders (expressed in £‘000)	(1,418)	(908)	(1,926)
Weighted average number of shares for the period/year	54,272,397	32,678,150	36,466,993
Basic loss per share	£ (0.026)	£ (0.028)	£ (0.053)

6.                    TRADE AND OTHER PAYABLES

	Unaudited 6 Months ended 30 June 2026	Unaudited 6 Months ended 30 June 2025	Restated Audited Year ended 31 December 2025
Trade payables	65	105	200
Accruals	125	152	143
Other payables	153	168	88
Total trade and other payables	343	425	431

Other payables as at 30 June 2026 included £39,000 of unclaimed dividends.

7.                    share Capital and share premium

	Number of shares	Ordinary shares £	Share premium £	Shares to be issued £	Total £
At 1 January 2025	32,678,150	66,225	3,360	-	69,585
Shares to be issued – 30 June 2025	-	-	-	800	800
Cost of capital – 30 June 2025	-	-	-	(38)	(38)
At 30 June 2025	32,678,150	66,225	3,360	762	70,347
Issue of new shares – 3 July 2025	7,283,510	874	-	(800)	74
Cost of capital – 3 July 2025	-	(42)	-	38	(4)
Issue of new shares – 16 December 2025	11,773,444	1,060	-	-	1,060
Cost of capital – 16 December 2025	-	(49)	-	-	(49)
At 31 December 2025	51,735,104	68,068	3,360	-	71,428
At 1 January 2026	51,735,104	68,068	3,360	-	71,428
Issue of new shares – 28 May 2026	2,500,000	250	-	-	250
Issue of new shares – 17 June 2026	24,950,000	2,495	-	-	2,495
Cost of capital	-	(121)	-	-	(121)
At 30 June 2026	79,185,104	70,692	3,360	-	74,052

8.                    Share-based payment transactions

Share warrants

Share warrants outstanding and exercisable at the end of the period have the following expiry dates and exercise prices:

			Warrants
Grant Date	Expiry Date	Exercise price in £ per share	31 December 2026	31 December 2025
27 June 2025	3 July 2027	0.24	3,333,330	3,333,330
10 December 2025	31 December 2026	0.15	5,155,556	5,155,556
15 June 2026	16 December 2027	0.15	25,000,000	-
			33,488,886	8,488,886

The Company and Group have no legal or constructive obligation to settle or repurchase the options or warrants in cash.

2026					2025
Range of exercise prices (£)	Weighted average exercise price (£)	Number of shares	Weighted average remaining life expected (years)	Weighted average remaining life contracted (years)	Weighted average exercise price (£)	Number of shares	Weighted average remaining life expected (years)	Weighted average remaining life contracted (years)
0 – 0.5	0.159	33,488,886	1.30	1.30	0.185	8,488,886	1.36	1.36

During the period there was a charge of £nil (2025: £nil) in respect of share warrants to the profit and loss because none of the warrants were issued to third-party suppliers in lieu of services.

Share options

1,012,797 options were granted to the Director’s during the period (the “EMI Options”). The EMI Options will vest in 3 equal tranches over the next 3 years and will be fully vested 30 June 2028. The EMI Options were issued at an exercise price of 10 pence and will expire 30 June 2036, being 10 years from grant date.

The fair value of the EMI Options was determined using the Black Scholes valuation model and at 30 June 2026, £1,000 has been recognised within the profit and loss.

9.                    EVENTS AFTER THE REPORTING DATE

On 20 August 2026 the Company announced that the first clinical site for its Phase 2 study of irinotecan ChemoSeed® for the treatment of glioblastoma had been formally activated and patient recruitment had started.

 

END