Recent developments include strategic acquisitions expanding XTL's portfolio into autism and psychedelic therapeutics, leadership appointments, and Nasdaq compliance notifications.

• XTL Biopharmaceuticals acquired 85% of Beyond Air’s subsidiary NeuroNOS, entering the autism market with Nobel Prize-winning scientific leadership [N4].
• The company completed the acquisition of 83.4% of Psyga Bio Ltd., an advanced biotechnology company focused on psychedelic and functional mushroom-derived products, in June 2026 [S2].
• XTL announced receipt of Nasdaq notifications regarding minimum stockholders’ equity deficiency and minimum bid price deficiency in January 2026 [N6][N7][N8].
• Noam Band was named CEO of XTL Biopharmaceuticals in April 2025 [N1].
• XTL expanded its portfolio with the acquisition of social proxy technology amidst regional challenges [N3].
• The company completed a private placement raising $1.5 million at $2.70 per ADS with attached warrants in June 2026 [S2].

XTL Biopharmaceuticals has expanded its portfolio through strategic acquisitions, notably Psyga Bio Ltd., which brings advanced biotechnology capabilities in psychedelic and functional mushroom-derived therapeutics with a clinical pipeline of seven Phase 2a trials. The company's exclusive sublicense of hCDR1 to Biossil Inc. offers potential milestone and royalty payments. The acquisition of an 85% stake in NeuroNOS Ltd. positions XTL in the autism market with recognized scientific leadership. These moves diversify XTL's asset base and may enhance its market presence in emerging therapeutic areas. The company's focus on intellectual property and innovation, combined with collaborations with leading research institutions, supports its development strategy. Recent capital raises provide additional funding to support operations and growth initiatives.

XTL Biopharmaceuticals faces significant financial challenges, including a working capital deficit and net losses from continuing operations, with liquidity ratios indicating constrained short-term financial flexibility. The company has no current drug product sales and relies on capital raises and option exercises for funding. The loss of control and subsequent liquidation of The Social Proxy subsidiary reflects operational and legal challenges in diversification efforts. The biotechnology sector's inherent risks, including regulatory hurdles, clinical trial uncertainties, and market competition, add to execution risks. Nasdaq notifications regarding minimum stockholders’ equity and bid price deficiencies highlight market and compliance pressures. Failure to secure additional financing or achieve commercial milestones could impair the company's ability to continue as a going concern.

XTL Biopharmaceuticals' moat is anchored in its intellectual property portfolio, including the licensed synthetic peptide hCDR1 with clinical data for autoimmune diseases, and its strategic acquisitions such as Psyga Bio Ltd., which provides proprietary psychedelic and functional mushroom-based products supported by a GMP-certified manufacturing facility and a robust clinical pipeline. The company's collaborations with leading academic and medical institutions enhance its scientific and clinical capabilities. The exclusive sublicense agreement with Biossil Inc. for hCDR1 adds potential milestone and royalty revenue streams. However, the company operates in a highly competitive and regulated biotechnology sector with significant development risks and capital requirements. Its recent loss of control and liquidation of The Social Proxy subsidiary indicates challenges in diversification efforts. The moat is thus primarily intellectual property and specialized biotech assets, supported by scientific leadership and clinical development progress.

• Liquidity and Going Concern Risk: The company has a working capital deficit and has disclosed substantial doubt about its ability to continue as a going concern without additional financing.
• Operational Risk from Subsidiary Insolvency: Loss of control and insolvency proceedings of The Social Proxy subsidiary have led to deconsolidation and liquidation, impacting diversification and financial results.
• Clinical and Regulatory Risk: XTL's drug candidates, including hCDR1 and Psyga Bio's pipeline, face inherent risks related to clinical trial outcomes, regulatory approvals, and commercialization.
• Market and Compliance Risk: Nasdaq notifications regarding minimum stockholders’ equity and bid price deficiencies indicate market compliance challenges that may affect listing status and investor confidence.
• Dependence on Capital Raising: The company has no product sales and depends on capital raises, private placements, and option exercises to fund operations and development activities.

• XTL Biopharmaceuticals Ltd is an intellectual property based company engaged in the biopharmaceutical industry, holding a license from Yeda Research and Development Company Ltd. for hCDR1, a potential treatment for systemic lupus erythematosus (SLE) and Sjogren's syndrome (SS).
• The company was established in 1993 in Israel and operates under Israeli Companies Law and U.S. securities laws, with ADSs listed on Nasdaq under ticker XTLB and ordinary shares on the TASE.
• XTL has three subsidiaries: Psyga Bio Ltd., Xtepo Ltd., and The Social Proxy Ltd. The Social Proxy was acquired in August 2024 but was deconsolidated effective January 1, 2025, due to loss of control and insolvency proceedings leading to liquidation.
• Psyga Bio Ltd., acquired in June 2026 with an 83.4% stake, is an advanced biotechnology company focused on proprietary products derived from psychedelic and functional mushrooms, including clinically researched therapeutic candidates, microdosing solutions, and wellness formulations.
• Psyga Bio operates a GMP-ready pharmaceutical manufacturing facility for botanical and synthetic psychedelic active pharmaceutical ingredients, including psilocybin and ibogaine, and maintains a proprietary library of over 250 unique mushroom strains.
• Psyga Bio has a clinical pipeline of seven approved Phase 2a human clinical trials targeting mental health disorders, neurological conditions, trauma-related disorders, addiction treatment, and other CNS indications, with collaborations with leading Israeli academic and medical institutions.
• XTL entered an Exclusive Sublicense Agreement in March 2025 with Biossil Inc. granting a royalty-free, exclusive, worldwide perpetual sublicense to hCDR1, including patents and clinical data, with potential cumulative payments up to approximately $11.5 million based on milestones.
• The Social Proxy's financial results are classified as discontinued operations from 2025 onward, with no consolidation due to lack of control and insolvency.
• Financial snapshot as of December 31, 2024: cash and cash equivalents of $371,000; current assets of $1,340,000; current liabilities of $2,207,000; revenue of $451,000 (from discontinued operations); net loss of $1,027,000; basic EPS of -$0.002; current ratio of 0.61; cash ratio of 1.7.
• The company reported a net loss of $6,969,000 for the year ended December 31, 2025, including a loss from continuing operations of $759,000 and a loss from discontinued operations of $6,210,000.
• XTL has no drug product sales to date; its major sources of working capital have been proceeds from private and public offerings and option and warrant exercises.
• The company faces a working capital deficit and has disclosed substantial doubt about its ability to continue as a going concern without additional financing.
• XTL completed a private placement in June 2026 raising $1.5 million at $2.70 per ADS, with attached warrants exercisable under certain conditions.
• The company’s strategy focuses on acquiring and developing high-potential intellectual property and technology assets in biomedicine and other areas, enhancing acquired technologies, leveraging strategic partnerships, and sustaining long-term growth through innovation.
• XTL’s CEO is Noam Band, appointed in April 2025.
• The company received Nasdaq notifications regarding minimum stockholders’ equity deficiency and minimum bid price deficiency in January 2026.
• XTL acquired 85% of NeuroNOS Ltd, a subsidiary of Beyond Air, entering the autism market with Nobel Prize-winning scientific leadership, for $32.5 million.
• The company’s recent acquisitions and portfolio expansion include social proxy technology and autism-focused biotech assets, reflecting diversification efforts amid regional challenges.