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VS Trust is a Delaware statutory trust formed in 2019, operating multiple series including SVIX, a 1x Short VIX Futures ETF, and UVIX, a 2x Long VIX Futures ETF. SVIX seeks to deliver daily investment results corresponding to the inverse performance of a portfolio of first- and second-month VIX futures contracts, rebalanced daily. The Trust and its Funds are regulated as commodity pools under the Commodity Exchange Act and overseen by the Commodity Futures Trading Commission, with the Sponsor registered as a Commodity Pool Operator. The Funds continuously offer and redeem shares in Creation Units to Authorized Participants, who then distribute shares to the public. The investment strategy involves using futures contracts primarily, with options, swaps, and other instruments employed as needed to maintain exposure and manage market disruptions. The Sponsor manages market impact by limiting participation in futures contracts during rebalance periods. The Funds are not designed for holding periods longer than one day due to daily rebalancing and compounding effects. Position limits on futures contracts may restrict the Funds' ability to maintain desired exposure, potentially affecting performance and correlation to benchmarks. The Sponsor retains discretion to change investment objectives or strategies without shareholder approval, subject to regulatory requirements.

PermRock Royalty Trust was formed in 2017 as a Delaware statutory trust to hold an 80% net profits interest in certain oil and natural gas properties located in the Permian Basin, Texas. The Trust's net profits interest entitles it to receive 80% of net profits from the sale of production from the underlying properties, calculated monthly and paid on or before the end of the following month. The Trust is passive and does not operate or control the underlying properties; operations and marketing are conducted by T2S Permian Acquisition II LLC or its affiliates, successor to Boaz Energy II, LLC. The Trust units trade on the New York Stock Exchange under the ticker PRT. The Trust's revenues depend on oil and natural gas prices, production volumes, and operating costs of the underlying properties, which are subject to commodity price volatility and operational risks. Major purchasers of production include Phillips 66, Plains All American Pipeline, Energy Transfer Partners, and Enterprise Crude Oil LLC, but the Trust believes loss of any single purchaser would not materially impact operations due to market competition. The Trust declares monthly cash distributions to unitholders, with recent announcements confirming ongoing monthly dividend payments.

SCWorx Corp. operates in the healthcare information technology sector, providing software solutions and services that enhance data interoperability, normalization, and analytics for healthcare providers, primarily hospitals and health systems in the United States. The company’s platform addresses deficiencies in hospital business systems by creating a Single Source of Truth (SSOT) for product data used in supply chain, clinical, and billing systems. SCWorx’s software modules include Item Master File repair and automation, Electronic Medical Record (EMR) management, Charge Description Master (CDM) management, contract management, Request for Proposal (RFP) automation, integration of acquired businesses, rebate management, big data analytics, and data warehousing. These solutions aim to improve operational efficiency, reduce costs, accelerate billing accuracy, and provide actionable business intelligence. SCWorx delivers its software primarily via a SaaS model hosted on cloud platforms such as AWS and RackSpace, under multi-year contracts. The company’s client base is geographically dispersed across the U.S., acquired through direct sales and strategic partnerships. SCWorx faces competition from internal purchasing departments, large and small vendors offering item master normalization and data cleansing, and software providers in benchmarking and analytics. Barriers to entry include technological sophistication, proven product functionality, client base, interoperability capabilities, and capital for sustained development and marketing.

Eline Entertainment Group, Inc. was originally incorporated in 1997 and historically operated in food service related to sports and entertainment. Operations were abandoned prior to 2022, leading to a court-appointed custodian taking control to reinstate the company and appoint new management. Since then, the company has been a developmental stage entity with no active business operations or revenue. Its current business plan involves seeking mergers, acquisitions, or other business combinations with operating companies, but no definitive agreements have been made. The company has limited capital, no cash on hand as of mid-2026, and reports ongoing operating losses. Management consists of a small team supplemented by independent consultants. The company faces competition from various financial and investment entities in sourcing suitable business opportunities [S1][S2].

Catalyst Bancorp, Inc. is the holding company for Catalyst Bank, a community savings bank serving the Acadiana region of south-central Louisiana through six branches. Founded in 1922 and converted to a stock company in 2021, Catalyst Bancorp shifted its business strategy from traditional residential mortgage lending to a relationship-based community bank model targeting small- to mid-sized businesses and professionals. The company focuses on growing its loan portfolio with greater diversification, enhancing banking products and services, recruiting key personnel, and expanding through acquisitions. Financially, Catalyst Bancorp reported total assets of $282.9 million and loans of $170.2 million as of December 31, 2025, with net income of $2.1 million for the year. The company manages credit risk through experienced credit professionals and defined policies, emphasizing asset quality and capital strength.

Innovative Eyewear Inc develops and markets smart eyewear products that combine traditional eyewear with digital connectivity and audio features. Founded in 2019 and headquartered in Miami, the company designs its products locally and manufactures them in China. Its product portfolio includes 34 models across traditional, sport, and safety categories, with extensive lens and prescription options. Key product lines include Lucyd Lyte, Lucyd Armor safety glasses, Nautica®, Eddie Bauer®, and Reebok® smart eyewear collections. The company’s smart glasses enable hands-free voice commands, music, calls, and AI assistant integration via the Lucyd app, which supports ChatGPT and other voice assistants. Sales channels include e-commerce and over 400 retail stores primarily in the US and Canada, with efforts to expand internationally. The company holds over 120 patents and applications and focuses on stylish, lightweight, affordable smart eyewear designed for mass market adoption [S1].

ENB Financial Corp is a bank holding company formed in 2008, with its primary operations conducted through Ephrata National Bank, a full-service commercial bank established in 1881. The Corporation's operations are concentrated in Lancaster County, Pennsylvania, with additional offices in Lebanon and Berks Counties, and expanded into Cecil County, Maryland, following a 2026 acquisition. The Bank offers a comprehensive suite of financial products and services including deposit accounts, commercial and consumer loans, electronic banking services, and insurance products through its subsidiary. The Corporation's business is aggregated into a single operating segment focused on community banking. It faces competition from larger regional and national banks, credit unions, and other financial institutions. The Corporation maintains regulatory compliance with federal and state banking authorities and holds a well-capitalized status. Its financial performance is influenced by local economic conditions and interest rate fluctuations.

Hines Global Income Trust, Inc. operates as a real estate investment trust with a diversified portfolio of commercial properties primarily in the United States and the United Kingdom. The company’s portfolio includes retail, office, industrial, and other property types, with a high occupancy rate and moderate leverage. The company calculates its net asset value (NAV) monthly using a valuation policy overseen by an independent valuation committee and reviewed by an external valuation advisor. Shares are transacted at NAV-based prices, and distributions may be paid in cash or reinvested in shares. The company’s financial results for the quarter ended June 30, 2026, show revenues of approximately $129.8 million and a net loss of $8.9 million, with cash and equivalents of $284 million.

1606 Corp. was incorporated in Nevada in 2021 as a spin-off from Singlepoint Inc. Initially, it sold tobacco- and nicotine-free hemp cigarettes but discontinued this business. Since 2023, the company has focused on AI chatbot technology tailored to the CBD industry, launching proprietary chatbots such as chatCBDW and IRChat for public companies. The company uses a monthly recurring licensing fee model and distributes through its website, online marketing, and independent sales organizations. In late 2025 and early 2026, 1606 Corp. shifted strategic focus toward acquiring power generation and data center assets, signing agreements to acquire a Texas property with a 55 MW power facility and data center-ready warehouse. The company has no prior experience in power generation or data center operations and faces challenges in securing financing and operational personnel. Financially, the company reported no revenue in 2025 and net losses in 2026, with a very low current ratio indicating liquidity challenges.

BayFirst Financial Corp. is a bank holding company that operates through BayFirst National Bank, serving consumers and small businesses primarily in the Tampa Bay/Sarasota area of Florida. The Bank operates from twelve banking centers and offers a full suite of community banking products including deposit accounts, commercial and consumer loans, and specialized lending programs such as healthcare banking and minority lending. The Bank discontinued its nationwide SBA 7(a) lending division in 2025 but continues SBA 504 and USDA loans. The company emphasizes conservative underwriting, risk management overseen by the Board and senior management, and significant investments in IT and cybersecurity to support growth and operational resilience [S1].

Emmaus Life Sciences, Inc. is a publicly traded company with limited publicly disclosed business model details. The company filed a 10-Q on August 14, 2026, reporting financial results for the quarter ended June 30, 2026. The filings show the company holds modest cash and current assets but has significantly higher current liabilities, resulting in a low current ratio. Net income and earnings per share were positive for the quarter. Recent news includes a significant sales decline reported in 2025. No detailed sector or industry classification is provided.

Boxlight Corp develops and sells interactive technology solutions primarily for the global education market, including interactive flat-panel displays, digital signage, classroom audio, STEM products, and educational software. The company integrates its hardware and software offerings to create comprehensive learning and communication environments. Boxlight operates globally through a network of over 1,000 reseller partners and has a presence in more than 70 countries. Its product portfolio includes brands such as Mimio and Clevertouch, and it offers professional development services to support technology adoption in schools. The company has expanded through acquisitions to broaden its product offerings and geographic reach. Boxlight's markets include K-12 education, corporate, and government sectors, with a focus on technology-enabled instruction and communication solutions. The company has received numerous industry awards recognizing its products and innovation.

QuoteMedia, Inc. is a publicly reporting company incorporated in Nevada, providing comprehensive financial data and software solutions primarily to financial institutions, brokerages, media companies, and individual investors. Its product suite includes real-time streaming data feeds, interactive web content, APIs, portfolio management systems, and custom software development. The company licenses its products on a subscription basis and emphasizes superior product design, data speed, and single-source provision as competitive advantages. QuoteMedia's offerings cover a broad range of market data including equities, options, futures, commodities, and indices from North American and global exchanges.

Chilean Cobalt Corp. is a Nevada-based critical minerals exploration and development company focused on cobalt and copper projects in northern Chile's San Juan District. The company operates through its wholly-owned subsidiary Baltum Mineria SpA, which holds 6,377 hectares of mining concessions. The San Juan District is a historic mining region with established cobalt and copper resources and robust infrastructure. Chilean Cobalt's business activities include exploration, acquisition, consolidation of mining rights, development planning, establishing downstream processing partnerships, ESG strategy implementation, and capital raising. The company has strategic relationships with Glencore and US Strategic Metals to develop an Americas-centric cobalt and copper supply chain, including processing and refining. It also participates in a CORFO-funded R&D project to evaluate recovery of cobalt and copper from legacy waste. Additionally, Chilean Cobalt has an earn-in and option agreement for a rare earth elements project in south-central Chile. The company has not generated revenues to date and has incurred losses, funded by equity and debt issuances. It faces a going concern opinion due to lack of operating revenues and recurring losses. Chilean Cobalt emphasizes ESG frameworks and responsible sourcing to address supply chain risks associated with cobalt sourced from higher-risk jurisdictions such as the Democratic Republic of the Congo and Indonesia.

StoneBridge Acquisition II Corporation is a Cayman Islands exempted blank check company incorporated in June 2024. Its business model centers on effecting an initial business combination with one or more operating businesses, focusing on international companies that can benefit from valuation arbitrage by going public in the U.S. The company targets sectors including Ecommerce, Fintech, SaaS, Renewable Energy, Mining, and IT/IT-Enabled Services, with geographic focus on the Asia-Pacific and EMEA regions. The company completed its IPO in October 2025, raising $57.5 million placed in a Trust Account to fund the initial business combination. It has not commenced operations or generated operating revenues and will generate income primarily from interest on Trust Account funds until the business combination is completed. The company has until April 1, 2027, with possible extensions, to complete the initial business combination or else will liquidate and redeem public shares.

Redwood Mortgage Investors IX operates as a mortgage investment entity managing a portfolio of secured loans primarily secured by first and second trust deeds. The company provides detailed disclosures on loan balances, loan-to-value ratios, delinquency status, and financial performance metrics in its SEC filings through mid-2026. It manages a unit redemption program with capital redemption requests and maintains liquidity through cash and cash equivalents. The portfolio includes loans with varying LTVs and some loans with payments in arrears or past maturity, with specific remediation arrangements disclosed.

Focus Universal Inc. operates primarily in the IoT product space, generating revenue from these products as disclosed in its annual SEC filings. The company has experienced a decline in revenue from $398,137 in 2024 to $255,023 in 2025, alongside increasing net losses and an accumulated deficit. Operating expenses have decreased but remain substantial. The company has completed a major real estate acquisition in 2026, financed by a significant loan and cash downpayment. The company’s capital structure has evolved with the issuance and subsequent conversion or redemption of Series B Convertible Preferred Stock. Liquidity metrics as of mid-2026 show a current ratio above 2 and a strong cash ratio, indicating available short-term resources. The company is listed on Nasdaq under ticker FCUV.

Limitless X Holdings Inc. is a Delaware corporation operating through four wholly owned subsidiaries focused on health, wellness, entertainment, and media-driven brand development. The primary commercial engine is Limitless X, Inc., which operates a direct-to-consumer e-commerce platform offering a diversified portfolio of premium dietary supplements and lifestyle products designed for mass-market adoption. The product portfolio includes the NZT-48 nootropic supplement line and other wellness products targeting cognitive support, energy, recovery, and weight management. The company has entered into agreements to develop signature supplement lines with notable figures such as Manny Pacquiao and DJ Pauly D to leverage their global visibility and brand influence. BodyCor, Inc. focuses on AI-assisted digital wellness tools to enhance customer experience and engagement. The company acquired a controlling interest in DING, a food and nutrition technology platform partnered with Instacart, to integrate commerce-enabled capabilities across its ecosystem. Limitless Entertainment Group Inc. is building a platform to develop and scale consumer brands and technology ventures. The company emphasizes regulatory compliance, quality manufacturing, and in-house direct-to-consumer distribution with plans to expand warehousing and offline channels. Marketing efforts include digital, social, and celebrity-driven activations to build brand affinity. The integrated strategy combines product sales, content production, live events, and technology platforms to support customer acquisition and revenue diversification. Leadership is led by CEO Jaspreet Mathur, with extensive experience in digital platforms and brand development. [S1]

Investview, Inc. operates a diversified business model encompassing financial education and technology, cryptocurrency mining, brokerage and financial markets, and health, beauty, and wellness sectors. The company protects its intellectual property primarily through trade secrets, confidentiality agreements, and trademarks. It acquired proprietary algorithmic trading platforms in 2021 and 2024 to build a brokerage and financial markets business, which is currently in early development and has not yet launched commercial operations. The company outsources human resources and payroll functions to professional employer organizations, which introduces compliance risks. Investview has experienced unfavorable publicity related to a past SEC inquiry settled in 2025, impacting its banking and credit relationships. Financially, as of June 30, 2026, the company reported cash and equivalents of approximately $2 million, current liabilities exceeding current assets, and net losses for the first half of 2026. The company is undertaking cost-cutting and restructuring initiatives, including winding down bitcoin mining operations and diversifying revenue streams [S1][S2].

PSB Financial, Inc. is a financial institution incorporated in Maryland and headquartered in Deer Lodge, Montana. It operates as a smaller reporting company and non-accelerated filer under SEC regulations. The company is not listed on any public exchange and has approximately 1.7 million shares outstanding. Its latest SEC filing provides a snapshot of its financial position as of mid-2026, including cash holdings, investment securities, loans, and net loss for the quarter. Detailed business model, industry classification, and operational segment disclosures are not publicly available in the provided data.

Scilex Holding Co focuses on developing and commercializing non-opioid pain management products addressing acute and chronic pain with significant unmet needs. Its commercial products include ZTlido, a lidocaine topical system for neuropathic pain; ELYXYB, an oral solution for acute migraine; and GLOPERBA, a liquid oral colchicine for gout prophylaxis. The company’s pipeline includes SP-102 (SEMDEXA), a corticosteroid gel for epidural injections in sciatica; SP-103, a triple-strength lidocaine topical system for acute pain; and SP-104, a low-dose naltrexone formulation for fibromyalgia. Scilex’s commercial strategy leverages a specialized sales force targeting relevant healthcare providers, managed care contracting, and patient assistance programs to enhance market penetration. The company also pursues a cryptocurrency treasury strategy to invest in blockchain-linked digital assets as part of its treasury reserves. As of mid-2026, Scilex reported modest revenue with significant net losses and constrained liquidity.

Fermi Inc. is a publicly traded development-stage company incorporated in Texas, focused on constructing and operating Project Matador, a multi-phase energy infrastructure project. The project includes nuclear power plants and natural gas-fired turbines. The company has not yet generated revenue or completed construction. Its business model relies on leasing facilities to tenants, with the first tenant lease signed but subject to closing conditions. Fermi has incurred substantial debt to finance equipment and development, with restrictive covenants and collateral requirements. The company is undergoing leadership changes and faces litigation risks. Regulatory, technological, and market risks are material given the early stage of development.

Jupiter Neurosciences, Inc. develops and commercializes neuroscience-related products and longevity supplements. Its lead clinical program, JOTROL™, is a resveratrol-based platform with enhanced bioavailability, targeting neurodegenerative diseases such as Parkinson's. The company also markets the Nugevia™ line of cellular energy supplements aimed at longevity and has expanded its addressable market to include GLP-1 users. Jupiter has entered strategic partnerships for clinical trial production and licensing, including a $100 million U.S. rights deal for ALA-002. The company is publicly traded on Nasdaq under the ticker JUNS following a reverse stock split intended to regain compliance with listing requirements.

CH4 Natural Solutions Corp is a Cayman Islands-incorporated company with its principal executive office in New York City. The company has issued Class A and Class B ordinary shares, with a significant portion of Class A shares subject to possible redemption. As of June 30, 2026, the company reported total assets of approximately $223 million, largely due to shares subject to redemption valued at over $221 million. The company had a shareholders' deficit of about $14.13 million and total liabilities of approximately $15.79 million, including current liabilities and deferred fees. The company reported a net loss of approximately $5.79 million for the six months ended June 30, 2026, with negative earnings per share for the first quarter of 2026. Liquidity ratios indicate current liabilities exceed current assets, with a current ratio of 0.68 and no cash equivalents as of June 30, 2026.

OneMedNet Corp operates in the healthcare IT sector, focusing on enabling secure and efficient sharing and analysis of healthcare data. The company’s solutions support healthcare providers, life sciences research, and AI development by facilitating access to real-world and multimodal patient data. Leadership includes experienced executives with backgrounds in healthcare technology, finance, and medical practice. The company has engaged in multiple partnerships to expand its data capabilities and has navigated Nasdaq compliance challenges in recent years.

Brainstorm Cell Therapeutics Inc. is a biotechnology company focused on developing cell therapy treatments for neurodegenerative diseases, primarily through its NurOwn® technology. The company is engaged in clinical trials and regulatory processes to advance NurOwn® as a treatment for ALS and other conditions. It operates from leased facilities in New York and Israel, with research and development activities supported by collaborations and intellectual property protections such as patents on exosome technology. Brainstorm's business model centers on clinical development, regulatory approval, and eventual commercialization of its cell therapy products.

Laser Photonics Corporation, incorporated in Delaware, is a vertically integrated manufacturer specializing in photonics-based industrial laser products and solutions. The company focuses on laser blasting technologies designed to replace traditional abrasive blasting methods across diverse industries such as automotive, aerospace, healthcare, shipbuilding, nuclear maintenance, and pharmaceuticals. The acquisition of Control Micro Systems expanded its reach into the pharmaceutical manufacturing vertical, particularly for controlled-release medication production. Laser Photonics targets three main customer segments: government entities, Fortune 1000 companies, and medium/small businesses, employing a Service Partner Network to support smaller customers. The company markets globally through a U.S.-based direct sales force and benefits from significant ownership and technology licensing agreements with ICT Investments and affiliated entities. Financially, the company has reported increasing sales since inception but continues to operate at a net loss with liquidity ratios below 1 as of mid-2026.

Proficient Auto Logistics, Inc provides vehicle transportation and logistics services, focusing on the automotive industry in the United States, Canada, and Mexico. The company operates a fleet supported by six maintenance facilities equipped with energy-efficient technologies and sustainability programs. Its revenue is concentrated among a few major customers, with one customer representing nearly a third of revenue. The business is regulated by multiple transportation authorities and is exposed to risks from regulatory changes, competition, and operational challenges including driver classification and fuel price volatility. The company maintains a cybersecurity program aligned with industry standards and engages third-party providers for security monitoring. Recent financial disclosures show a net loss and moderate liquidity as of mid-2026. The company is pursuing a strategic acquisition with associated execution risks [S1][S2].

Lionheart Holdings operates as a special purpose acquisition company (SPAC) incorporated in the Cayman Islands in February 2024. Its business model is to identify and complete a Business Combination with one or more target companies in any industry. The company completed its IPO in June 2024, raising $230 million, which is held in a Trust Account to fund the Business Combination. The company has not generated operating revenues and has not selected a target as of the latest filings. Management focuses on acquiring established businesses with proven unit economics, capable management teams, defensible market positions, and potential for stable free cash flow. The company’s Board and management have extensive experience in investment, operations, and corporate governance. The deadline to complete the Business Combination was initially June 20, 2026, but was extended to March 20, 2027, with shareholder approval and institutional investor support. The company reported a net loss and liquidity constraints as of June 30, 2026, and management has expressed substantial doubt about its ability to continue as a going concern without additional financing.

Vynleads, Inc. operates as a wellness technology company specializing in metabolic health and chronic lifestyle-influenced conditions. Its primary product is the Done With Diabetes app, an eight-week structured program delivered via a digital platform that integrates AI-enabled coaching and personalization. The app guides users through a 56-day Success Blueprint with phases focused on education, habit formation, and accountability, supported by AI workflows and community features. The company is shifting from one-time digital wellness products to a recurring subscription platform priced at $29 per month after a free trial. Vynleads aims to expand its platform to enterprise customers such as employers and health plans, offering scalable lifestyle programs with AI-driven personalization. The platform architecture is cloud-based, supporting user management, program engagement, AI chat, and reporting. The company holds proprietary rights to its brands and technology and operates under various regulatory frameworks related to consumer protection, privacy, and AI governance. As of mid-2026, Vynleads had one employee and relies on third-party partners for operations.

SOLV Energy, Inc. is a publicly listed company on Nasdaq (ticker: MWH) that completed its initial public offering in early 2026. The company has reported significant revenue and net income for the quarter ended June 30, 2026, supported by a strong liquidity position with over $360 million in cash and equivalents. The IPO proceeds were used primarily to repay term loans and support general corporate activities. Recent public disclosures include quarterly earnings calls and financial results filings, though specific sector and industry classifications are not provided in the available data.

Traws Pharma, Inc. is a pharmaceutical company focused on developing antiviral therapies, including treatments for influenza, COVID-19, and hantavirus. Its pipeline includes Ratutrelvir, which has completed Phase 2 enrollment and is being expanded to influenza, and Tivoxavir Marboxil, which has filed an IND and demonstrated positive preclinical data. The company has secured up to $60 million in financing to support its influenza program. It is publicly traded on Nasdaq under the ticker TRAW and has experienced regulatory setbacks such as the FDA halting the TXM IND. The company is actively managing Nasdaq listing compliance risks due to its stock price falling below the minimum bid requirement.

Tribeca Strategic Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands that completed its initial public offering in June 2026. The company raised approximately $140 million through the issuance of units, each comprising one Class A ordinary share and one right to receive a fraction of a share upon completion of an initial business combination. The proceeds are held in a trust account pending the consummation of a business combination or liquidation. The company has no disclosed operating business or revenue as of the latest filings.

Marker Therapeutics, Inc. specializes in developing T cell-based immunotherapies for hematological malignancies and solid tumors. Its proprietary MAR-T cell technology selectively expands natural tumor-specific T cells without genetic modification, targeting multiple tumor antigens simultaneously to address tumor heterogeneity and minimize immune escape. The company’s lead autologous product, MT-601, is in clinical trials for relapsed lymphoma and pancreatic cancer, showing encouraging safety and efficacy data. The off-the-shelf product, MT-401-OTS, targets AML and MDS and offers rapid treatment delivery. Marker leverages collaborations, grants, and optimized manufacturing processes to advance its pipeline and aims to become a leader in transformative immunotherapies.

Citius Pharmaceuticals, Inc. is a pharmaceutical company operating through its majority-owned subsidiary, Citius Oncology. The company focuses on developing and commercializing pharmaceutical products, including LYMPHIR, for which it has secured distribution agreements with major healthcare distributors such as McKesson and Cardinal Health. Citius Oncology carries significant indebtedness under a Loan Agreement with tiered tranches and a floating interest rate floor, which includes an interest-only period followed by amortizing payments and a balloon payment at maturity. The Loan Agreement is secured by a lien on substantially all assets, including intellectual property. The company has reported recent quarterly losses and liquidity ratios below 1.0, indicating potential financial constraints. Capital raising efforts include a direct offering in mid-2025. The Loan Agreement also includes provisions for lender conversion of debt to equity and warrants, which may dilute existing shareholders.

Citius Oncology, Inc. is a biopharmaceutical company headquartered in Cranford, New Jersey, specializing in developing and commercializing innovative targeted oncology therapies. Its strategy focuses on advancing therapies with reduced development risks and competitive advantages supported by intellectual property and regulatory exclusivity. The company's lead product, LYMPHIR, is an engineered IL-2 diphtheria toxin fusion protein approved by the FDA in August 2024 for treating persistent or recurrent cutaneous T-cell lymphoma (CTCL), a rare form of non-Hodgkin lymphoma. LYMPHIR was launched commercially in December 2025. The company aims to commercialize products independently in the U.S. and partner internationally, supported by a small targeted oncology sales force focused on major cancer centers. LYMPHIR demonstrated clinical benefit and tolerability in a pivotal Phase 3 trial, with an objective response rate of 36.2% and manageable safety profile. The company has established distribution agreements with McKesson and Cardinal Health for LYMPHIR. Financially, as of June 30, 2026, Citius Oncology reported $1.5 million in revenue for the quarter, a net loss of $8.9 million, and holds $16.6 million in cash and equivalents. The company carries significant indebtedness with associated risks related to debt service and potential dilution of stockholders.