Month: October 2026

Release – V2X to Showcase Advanced Technology Mission Solutions at AUSA Annual Meeting 2026

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V2X

Research News and Market Data on VVX

October 06, 2026

RESTON, Va., Oct. 6, 2026 /PRNewswire/ — V2X, Inc. (NYSE: VVX) will showcase its advanced technology solutions designed to enhance protection, readiness, security, and battlefield connectivity at the 2026 Association of the United States Army (AUSA) Annual Meeting. At Booth 2003 in Exhibit Hall A, V2X will feature its Tempest Sentinel Counter-Unmanned Aerial System (C-UAS), AI-powered predictive aircraft readiness capabilities, integrated electronic security solutions, and Gateway Mission Router (GMR) technology supporting Army air-to-ground operations.

Throughout AUSA, V2X will demonstrate mission-focused solutions designed to address evolving operational requirements and strengthen warfighter readiness:

1. Tempest Sentinel Counter-UAS System – V2X will showcase Tempest Sentinel, a rugged, rapidly deployable combat system designed to protect bases, critical infrastructure, and high-value assets from emerging unmanned aerial threats. Available as a towable or static emplaced system, Tempest Sentinel combines quad weapon launchers with proven C-UAS capabilities to detect, engage, and defeat Class 2 and 3 UAS day or night and in adverse weather conditions.

2. Cold Steel Predictive Analytics and Workflow Optimization – Project Cold Steel is an AI-powered aircraft readiness platform that brings together maintenance, supply, and real-time flight line data to increase fleet availability and reduce downtime. Cold Steel uses AI to identify emerging maintenance issues, predict potential failures, optimize resources, and provide actionable readiness insights.

3. Advantor Integrated Security Solutions – Advantor Systems, a V2X company, will highlight integrated electronic security solutions that protect personnel, facilities, classified information, critical infrastructure, and other high-value assets. Advantor integrates intrusion detection, access control, video surveillance, and command-and-control technologies into a unified security environment that improves detection, assessment, and response.

4. Army Air-to-Ground Operations – Gateway Mission Router – V2X will demonstrate its GMR 1000 and GMR 5000, ruggedized and cyber-hardened solutions that integrate information and assured communications across multiple domains to enhance real-time situational awareness. Platform-independent and adaptable across aviation and ground vehicles, the GMR creates a more connected operational environment for warfighters operating in complex battlespaces.

Attendees can experience these technologies and meet with V2X leaders at Booth 2003 in Exhibit Hall A. V2X will demonstrate how the company combines operational expertise with advanced technology to rapidly deliver mission-ready solutions that address emerging threats and strengthen warfighter readiness.

About V2X
V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission’s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today’s toughest challenges across all operational domains.

Investor Contact
Mike Smith, CFA
Vice President, Treasury, Corporate Development and Investor Relations
[email protected]
719-637-5773

Media Contact
Angelica Spanos Deoudes
Senior Director, Marketing and Communications
[email protected]
571-338-5195

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SOURCE V2X, Inc.

Release – Ocugen Appoints Industry Executive Jolanda Crombach General Manager of European Affiliate

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Research News and Market Data on OCGN

October 6, 2026

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  • European Affiliate, based in Amsterdam, to support upcoming marketing authorization submissions, OCU410 Phase 3 development program, and potential commercialization in Europe

MALVERN, Pa., Oct. 06, 2026 (GLOBE NEWSWIRE) — Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN), a biotechnology company focused on developing and commercializing novel gene therapies to address blindness diseases, today announced the appointment of Jolanda Crombach, MSc PharmD, as General Manager of the Company’s European affiliate. Ms. Crombach, an accomplished pharmaceutical executive with more than 20 years of industry experience, will lead the Company’s newly established European affiliate, headquartered in Amsterdam, Netherlands.

“As we advance our three Phase 3 modifier gene therapy programs toward regulatory submissions and potential commercialization, establishing a strong presence in Europe is an important component of our growth strategy,” said Shankar Musunuri, PhD, MBA, Chairman, Chief Executive Officer and Co-founder of Ocugen. “Jolanda is ideally suited to lead this important expansion. Her extensive pharmaceutical leadership experience, deep understanding of the European healthcare environment and track record of building organizations will be invaluable as we develop our European operations and prepare to potentially bring transformative, one-time treatment gene therapies to patients.”

Under Ms. Crombach’s leadership, the European affiliate will build the team and infrastructure to support Ocugen’s three late-stage modifier gene therapy programs addressing major blindness diseases, including OCU400 for retinitis pigmentosa, OCU410 for GA secondary to dry age-related macular degeneration, and OCU410ST for Stargardt disease. All three development programs are in Phase 3, with key data readouts expected in 2027 and 2028, followed by global regulatory submissions, including Marketing Authorization Application submissions in Europe.

Ms. Crombach brings a proven track record of building and leading organizations across the European life sciences sector. Most recently, she served as Managing Director and Board Member of Moderna Netherlands, where she built the company’s Netherlands affiliate from the ground up and subsequently led its operations. Prior to Moderna, she held leadership roles spanning commercial, market access, medical, corporate and public affairs at MSD (Merck) and Pfizer. She began her career as a pharmacist and holds a MSc PharmD degree from Utrecht University in the Netherlands.

“I am excited to join Ocugen and contribute to the Company’s mission of developing innovative gene therapies for people living with blindness diseases,” said Jolanda Crombach, General Manager of European Affiliate, Ocugen. “Ocugen has built an innovative pipeline addressing significant unmet needs in ophthalmology, and I look forward to working with the team to establish a strong European organization and help expand access to these potentially transformative gene therapies for patients across Europe.”

About Ocugen, Inc.
Ocugen, Inc. is a pioneering biotechnology company developing gene therapies for blindness diseases. The Company’s breakthrough modifier gene therapy platform has the potential to address significant unmet medical needs across large patient populations through a gene-agnostic approach. Unlike traditional gene therapies and gene-editing technologies that target a single gene mutation, Ocugen’s modifier gene therapies are designed to address the underlying disease biology by restoring balance across multiple gene networks. The Company is currently advancing programs for inherited retinal diseases and other causes of blindness that affect millions worldwide, including retinitis pigmentosa, Stargardt disease, and geographic atrophy, an advanced form of dry age-related macular degeneration. Discover more at www.ocugen.com and follow us on LinkedIn and X.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding strategy, business plans and objectives for Ocugen’s clinical programs, plans and timelines for the preclinical and clinical development of Ocugen’s product candidates, including the therapeutic potential, clinical benefits and safety thereof, expectations regarding timing, success and data announcements of current ongoing preclinical and clinical trials, including the timing of enrollment and data readouts, the ability to initiate new clinical programs, statements regarding qualitative assessments of available data, potential benefits, expectations for ongoing clinical trials, anticipated regulatory filings and anticipated development timelines, statements regarding potential market size and commercial possibilities of Ocugen’s product candidates, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations, including, but not limited to, the risks that preliminary, interim and top-line clinical trial results may not be indicative of, and may differ from, final clinical data; that unfavorable new clinical trial data may emerge in ongoing clinical trials or through further analyses of existing clinical trial data; that earlier non-clinical and clinical data and testing may not be predictive of the results or success of later clinical trials; and that clinical trial data are subject to differing interpretations and assessments, including by regulatory authorities. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Contacts:

Investors:
Candice Masse
astr partners
[email protected]

Media:
Chris Clark
[email protected]

Google Signs $4.3 Billion, 20-Year Nuclear Power Deal With Constellation Energy

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Google (Nasdaq: GOOG, GOOGL) announced Tuesday a $4.3 billion agreement with Constellation Energy (Nasdaq: CEG) to bring 890 megawatts of nuclear power online through a 20-year power purchase agreement, the latest step in the technology industry’s race to secure electricity for the AI buildout. Constellation shares were up more than 12% in Tuesday trading, while Google was slightly lower.

The new capacity will not come from new reactors. It will come from upgrades at six existing nuclear plants across Illinois, New Jersey, and Pennsylvania, including modernized turbines, steam generators, and digital control systems. Upgrading existing plants is generally a faster route to new capacity than building reactors from scratch, which can take years to permit and construct. By the usual rule of thumb that a gigawatt powers nearly 800,000 homes, 890 megawatts is enough for roughly 700,000.

The structure matters for both sides. Google says the contract gives Constellation the revenue certainty it needs to invest in updates to 11 of its reactors, and that it is designed so utility customers do not absorb added costs from the AI boom. Constellation will also use Google’s Gemini Enterprise software for site selection, outage management, and infrastructure protection, which makes this a technology partnership as well as a power contract.

Google is not alone in locking up nuclear supply. Microsoft signed a 20-year agreement with Constellation in 2024 to source power from a previously shuttered reactor at Three Mile Island by 2028. Amazon has signed its own nuclear power deal with Constellation, and Meta has agreed to a 20-year purchase of power from Vistra’s plants and also has a 20-year agreement for the output of Constellation’s Clinton plant in Illinois. That gives Constellation long-term agreements with four of the largest technology companies. Google has also invested in nuclear projects in Georgia, Iowa, and Tennessee, and companies across the industry are exploring small modular reactors designed to deliver megawatts rather than a full gigawatt.

The pattern points to where the AI buildout is actually constrained. Chips and data center shells can be ordered, but reliable around-the-clock power cannot be added quickly. That is why the largest buyers are signing two-decade contracts years before the electricity arrives, a dynamic that runs through the US data center construction boom. It also helps explain why a single contract can move a power generator’s stock by double digits, since it converts uncertain future demand into contracted revenue. Nuclear carries a lingering public stigma, but it offers clean, steady output compared with carbon-based options.

For small and microcap investors, the read-through is about the supply chain around power rather than the contracts themselves. Upgrading six plants and eleven reactors means demand for turbine and steam generator components, digital controls, engineering services, and grid equipment, areas where smaller specialized companies operate. The caution is that Constellation’s jump shows how quickly the market prices in announced deals. Whether smaller names benefit depends on whether orders actually reach them and whether the hyperscalers keep spending at the current pace while borrowing costs stay elevated.

Release – The GEO Group Delivers Notice of Redemption for All Senior Secured Notes Due 2029 and Amends and Extends Revolving Credit Facility

Posted on by [email protected]

Research News and Market Data on GEO

October 6, 2026

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BOCA RATON, Fla.–(BUSINESS WIRE)–Oct. 6, 2026– The GEO Group, Inc. (NYSE: GEO) (“GEO” or the “Company”) has delivered a notice of redemption for all of the $650,000,000 in outstanding aggregate principal amount of its 8.625%Senior Secured Notes due 2029 (CUSIP Nos. 36162JAG1 and U32352AF0) (the “2029 Senior Secured Notes”). The redemption of the 2029 Senior Secured Notes will occur on October 15, 2026 (the “Redemption Date”).

The redemption price for the 2029 Senior Secured Notes will be equal to $1,043.13 per $1,000.00 original principal amount, or approximately $678 million, plus any accrued and unpaid interest up to, but excluding, the Redemption Date. GEO will deposit, with the trustee for the 2029 Senior Secured Notes, the redemption price for the 2029 Senior Secured Notes by October 14, 2026, using the net proceeds from its recently announced asset sales. Upon the funding of the redemption price, the Indenture governing the 2029 Senior Secured Notes will be discharged. Payment of the redemption price for the 2029 Senior Secured Notes will be made through the Depository Trust Company.

GEO also announced today the closing of an amendment to the Company’s Amended Credit Agreement to extend the maturity of its $550 million Revolving Credit Facility to July 14, 2031 and to increase the Company’s restricted payments capacity. Following this amendment and the discharge of the Indenture governing the 2029 Senior Secured Notes, GEO will be permitted to make unlimited restricted payments, including share repurchases, under the Amended Credit Agreement, to the extent the Company’s total leverage ratio (as defined therein) calculated on a pro forma basis after giving effect to such restricted payment would be equal to or less than 2.25 to 1.00 and no default exists thereunder. Additionally, under the Indenture governing the Company’s $625 million 10.25% Senior Unsecured Notes due 2031, GEO is permitted to make unlimited restricted payments, including share repurchases, to the extent the Company’s consolidated total leverage ratio (as defined therein) calculated on a pro forma basis after giving effect to such restricted payment would be equal to or less than 2.00 to 1.00 and no default exists thereunder.

GEO recently announced that its Board of Directors approved a $750 million increase to the Company’s share repurchase authorization program, which is effective through December 31, 2029, from $500 million to $1.25 billion.

Repurchases of GEO’s outstanding common stock will be made in accordance with applicable securities laws and may be made at our senior management’s discretion from time to time in the open market, by block purchase, through privately negotiated transactions, pursuant to a trading plan, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The authorization for the share repurchase program may be extended, increased, decreased, suspended or terminated by our Board of Directors in its discretion at any time. Repurchases of the Company’s common stock (and the timing thereof) will depend upon market conditions, regulatory requirements, the Company’s existing obligations, including its Credit Agreement, other corporate liquidity requirements and priorities and other factors as may be considered in the Company’s sole discretion. The authorization for the share repurchase program does not obligate GEO to purchase any particular amount of the Company’s common stock.

About The GEO Group

The GEO Group, Inc. (NYSE: GEO) is a leading diversified government service provider, specializing in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO’s diversified services include enhanced in-custody rehabilitation and post-release support through the award-winning GEO Continuum of Care®, secure transportation, electronic monitoring, community-based programs, and correctional health and mental health care. GEO’s worldwide operations include the ownership and/or delivery of support services for 97 facilities totaling approximately 76,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 20,000 employees.

Use of forward-looking statements

This news release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the cautionary statements and risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission including its Form 10-K, 10-Q and 8-K reports. All forward-looking statements speak only as of the date of this news release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements and risk factors contained in GEO’s filings with the U.S. Securities and Exchange Commission, including those referenced above. GEO disclaims any obligation to update or revise any forward-looking statements, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261005771266/en/

Pablo E. Paez (866) 301 4436
Executive Vice President, Corporate Relations

Source: The GEO Group, Inc.

The GEO Group (GEO) – A Sale; Increased Buyback Authorization

Posted on by [email protected]


Tuesday, October 06, 2026

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Facilities Sale. The GEO Group has sold its Adelanto, California ICE Processing Center complex to the Federal government for $950 million, or a net of $705 million. This is the first facility sale by GEO to the Department of Homeland Security and follows similar transactions earlier this year by competitor CoreCivic to DHS. The sale provides a solid foundation for the value of GEO’s assets in our view.

Details. The Adelanto complex consists of 3 buildings with a total of 2,644 beds. On a consolidated basis, the sale price equates to over $359,000/bed. GEO expects to continue providing support services to the Federal government at these locations under the existing contract agreement, although we would expect some changes to the contract as GEO no longer owns the facilities. The current contract runs through mid-December 2029 with a 5-year option period.


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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Tectonic Metals Inc. (TETOF) – Preparing for the Next Phase of Growth

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Tuesday, October 06, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Senior leadership team appointment. Effective October 1, Tectonic appointed Mr. Eduard Epshtein, CPA, CA, as Chief Financial Officer and Corporate Secretary. Mr. Epshtein has more than 20 years of capital markets, project development, transactions, and corporate finance experience, including 16 years as Chief Financial Officer of Lithium Americas (NYSE: LAC, TSX: LAC). During his tenure, Lithium Americas evolved from an exploration-stage company into a NYSE-listed producer with a market capitalization exceeding US$5 billion.

Experience aligned with Tectonic’s next phase. We view the appointment positively given Mr. Epshtein’s experience advancing major resource projects from exploration through construction and production. His experience with project finance, strategic partnerships, joint ventures, offtake arrangements, M&A, and corporate governance should become increasingly relevant as Tectonic moves Flat from exploration toward resource definition and economic evaluation.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

NN (NNBR) – A Deeper Look Into the Implications of the PIPE Transaction

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Tuesday, October 06, 2026

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Transaction. As noted, NN is eliminating its outstanding Preferred stock, which will eliminate the associated dividends that cost the Company approximately $19 million in 2025. NN issued 11.3 million shares in the PIPE transaction and an additional 4.8 million pre-funded warrants. Eliminating the dividends and increasing the share count would lower our 4Q26 estimated loss per share to $0.03 from a prior $0.06. The elimination of $122.1 million of outstanding preferred stock as of June 30th significantly improves NN’s capital structure.

Term Loan. At the end of June, NN had $133.5 million outstanding under its term loan facility at a 13.5% interest rate. We believe the elimination of the preferred, along with solid operating performance, gives management the opportunity to refi the term debt at a lower rate. For illustrative purposes, reducing the interest rate to 10% from 13.5% would save the Company $4.6 million in annual interest costs, or about $0.04/sh, based on 100 million shares outstanding.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Alliance Entertainment Holding (AENT) – Building A Higher-Margin Entertainment Platform

Posted on by [email protected]


Tuesday, October 06, 2026

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

George Proost, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Noble Virtual Conference Highlights. On October 1, 2026, Bruce Ogilvie, Executive Chairman of Alliance Entertainment, presented at Noble’s October Virtual Emerging Growth Conference. The presentation highlighted an optimistic outlook for fiscal 2027 and opportunities to expand margins through licensing, collectibles, authentication, and fulfillment. A replay is available here.

Favorable revenue and margin expansion outlook. Management expects continued revenue growth and margin expansion in fiscal 2027, supported by continued demand for physical media products and a full year of the company’s high-margin licensing deal with Amazon MGM. Additionally, the company’s return to direct movie sales to Walmart eliminates third-party intermediary fees and restores access to supply chain financing, supporting faster cash collection and higher margins. Management expects the full benefit to become more apparent in fiscal Q2.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

US Trade Deficit Jumps Above $100 Billion as Oil and Gold Imports Surge

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The US trade deficit jumped to $105.6 billion in August, a 13.8% increase from July’s revised $92.8 billion and the widest gap since early 2025, the Commerce Department reported Tuesday. Imports rose 4.3% to $420.8 billion, while exports rose just 1.4% to $315.2 billion.

The timing is notable. August was the first month after a new phase of tariffs took effect in late July, including a 10% tariff on top allies such as the European Union and a 12.5% tariff on other nations, including China. Importers also kept bringing in components for AI data centers. Semiconductor imports rose $2.4 billion, though computer accessory imports fell $1.6 billion, leaving overall AI-related imports little changed from July but still elevated.

A more significant driver was industrial supplies. Crude oil imports jumped $3.3 billion and nonmonetary gold imports rose $3.1 billion. The oil figure comes as crude prices have stayed elevated through the Iran conflict, and the gold figure arrives in a year when precious metals have rallied. The surge in goods imports lifted the goods deficit to $136.6 billion, while the services surplus stayed essentially flat.

Mexico remained the largest deficit at $27.7 billion. The gap with Canada widened by $4.1 billion to $7.1 billion in the month talks between the two countries collapsed and new 50% tariffs took effect, a dispute in which crude oil was left out of the tariffs. The deficit with China rose to $16.4 billion from $15.2 billion in July. That was before a visit by Chinese President Xi Jinping, which extended the current trade truce by two months, set a new early 2027 deadline for talks, and produced tariff cuts on an estimated $60 billion worth of goods.

The widening gap matters for growth. One forecasting firm said the jump in imports suggests third-quarter GDP growth will come in well below its 4.0% forecast, possibly closer to 2.5%, noting that the rise in goods imports was broad-based and left net trade as a drag overall. Imports subtract from GDP in the national accounts, so a surge can lower headline growth even when it reflects strong demand.

The next trade report will show whether August’s jump was a one-month surge or the start of a new run higher, and the early 2027 China deadline sets the next hard date for trade policy. Until then, a deficit above $100 billion suggests demand for imported goods remains strong even with higher tariffs in place.

For small and microcap investors, the report is a reminder that trade policy remains a live cost variable. Smaller manufacturers and importers have less room than multinationals to absorb tariff-driven input costs or reroute supply chains, though the extended China truce and announced tariff cuts offer some relief. Russell 2000 companies earn most of their revenue at home, so growth data matter as much as trade headlines, and a third-quarter GDP reading nearer 2.5% than 4.0% would feed into how investors read the Fed’s path after September’s rate hike.

Amazon Just Hit Its Lowest Valuation Ever as a Public Company

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Amazon (Nasdaq: AMZN) is being left out of the renewed rush into AI stocks. At about $251 a share, the stock trades at roughly 20 times trailing earnings, its lowest valuation ever as a public company, and it is down about 2.4% over the past month. The move comes just two months after Amazon crossed $3 trillion in market value on the strength of its cloud business.

The contrast with other AI names is sharp. Nvidia is trading at a record high, and AMD just set a record of its own. Meta shares have surged 23% in the past month on enthusiasm for its Muse AI agent, while Microsoft and Alphabet have posted modest gains. Among the Magnificent Seven, only Alphabet screens cheaper than Amazon.

Two issues appear to be holding the stock back. The first is legal. In early September, the Federal Trade Commission and 22 states sued Amazon, alleging its advertising practices overcharged roughly 1.2 million advertisers by about $20 billion between 2019 and today. The agency says Amazon did not disclose reserve-pricing mechanisms that raised costs for advertisers and consumers. Amazon says advertisers are getting greater value from its platform. These are allegations, not findings, but investors are wary that advertising, one of Amazon’s most profitable businesses, could become less lucrative.

The second issue is spending. Amazon’s second-quarter report raised its 2026 capital expenditure plan to approximately $220 billion. One Wall Street estimate now puts 2027 capex at $320 billion and 2028 at $370 billion, which would push free cash flow to roughly negative $50 billion in each of those years. Those are outside estimates, not company guidance. In August, the stock jumped more than 15% in a single session because AWS growth appeared to justify the spending. Now attention is shifting to how much cash the buildout consumes, the same debate that has weighed on Oracle and other heavy AI spenders.

A low multiple is not automatically a bargain. The bull case rests on AWS, which posted $42.2 billion in quarterly revenue, up 36.7% from a year earlier, with a contracted backlog of $496 billion and management saying demand still outstrips available server capacity. The bear case rests on litigation risk, rising capital intensity, and the possibility that free cash flow stays negative for years. The valuation simply shows which argument investors currently find more persuasive.

For small and microcap investors, the lesson is that even the world’s largest companies are priced on narrative as much as fundamentals. Capital is flowing toward stocks tied to the AI storyline while discounting those carrying heavy spending or regulatory overhang. Smaller suppliers of power, cooling, and components into data center buildouts benefit from Amazon’s spending whether or not its stock rewards it, but they also depend on that spending continuing if its cash flow tightens. Valuation gaps like this one are also a reminder that investor attention can leave fundamentally strong companies undervalued, something smaller companies experience more often than most.

Release – NanoViricides Provides Additional Details on the Phase II Clinical Trial of NV-387 Oral Gummies as a Treatment for Ebola as the Outbreak Continues to Expand and Has Taken Over 4,000 Lives

Posted on by [email protected]

Research News and Market Data on NNVC

Monday, 05 October 2026 08:45 AM

Topic: 

Company Update

SHELTON, CT / ACCESS Newswire / October 5, 2026 / NanoViricides, Inc. (NYSE American:NNVC) (the “Company”), a clinical stage leader developing antiviral drugs that viruses cannot escape, herewith provides additional details on its Phase II Clinical Trial of NV-387 Oral Gummies as a Treatment for the Current Bundibugyo Ebolavirus (BDBV) and other Ebola viruses in the Democratic Republic of Congo (“DRC”).

The trial is proceeding as designed. This clinical trial is being conducted in two parts. Enrollment in the first part, Phase IIA, began on or about September 23, 2026. Patients are being enrolled slowly, in a cautious approach, because NV-387 is a new chemical entity. As the clinical experience with NV-387 increases, enrollment may speed up. This part requires only a small number of patients.

In Phase IIA, the trial is designed to evaluate the dosage regimen that is tolerable in patients with clinical Ebola Virus Disease (EVD). The purpose of the Phase IIA part is to determine the optimal dosing regimen (amount, frequency, and schedule in number of days) that remains well tolerated in terms of safety signals (toxicity) in the context of the issues caused by the Ebola Bundibugyo viral disease itself. The clinical symptoms of the Ebola BDBV disease are complex, and possibly different from prior Ebola virus outbreaks i.

It is expected that when the optimal dosage regimen is administered, signs of reduction in viral load would be seen, and potentially, recovery in the patients would also be seen. However, the Phase IIA part is not designed for evaluating efficacy of the drug in a statistical sense. It is designed to provide a quick go-nogo gate to support starting the Phase IIB, which is a randomized clinical trial of NV-387 Oral Gummies designed for evaluating efficacy in treating Ebola patients.

After a dosage regimen is identified, it will be used in an expanded, randomized, controlled clinical trial, Part IIB, to evaluate effectiveness of the Oral treatment drug NV-387 Oral Gummies.

NV-387 is designed to attack the virus and reduce the viral load in the body.

Reducing viral load correlates with improvement in physiological function. Reduction in viral load to undetected level means complete recovery from the viral disease. However, the bodily functions, may take longer time even after reaching undetectable viral load, as the virus-attacked organs rejuvenate. It is also possible that some permanent damage, e.g. kidney damage, may persist even after viral recovery.

The current BDBV outbreak has continued to expand, and while the initial outbreak sites including Ituri have possibly stabilized, the outbreak has started gaining strength in Nord Kivu province with 40% of national confirmed cases now coming from Nord Kivu, which does not have sufficient ebola treatment centers capacity, with only 29 beds in treatment center, and only about 20 “transit facility” beds for holding suspected cases until diagnosis results come in, according to Doctors Without Borders ii. Recently, thousands of refugees fled from a refugee camp where more than 30 people had died from Ebola BDBV, to escape from security forces that were investigating weapons stored in the camp. Their fleeing has increased the risk of spread iii. Additionally, 6 new Ebola cases were recorded in an Eastern part of DRC controlled by rebel groups, further complicating efforts to control the outbreak iv.

The death toll has now risen to 4,018, and confirmed cases have gone up to 8,300 making this the fastest rising Ebola virus outbreak in the whole world, as of the data released on October 2, 2026, by the DRC government v. The crude case fatality rate (CFR) remains at about 48%, and the infection-to-fatality (IFR) rate remains at about 67%. The IFR corrects the data for the fact that the infected person dies on an average about three weeks later, and therefore is a more accurate representation of reality vi.

NV-387, as an oral medicine to treat the BDBV disease would be highly valuable to counter and control this BDBV Ebola outbreak, if it is found to be effective in this clinical trial. A clinical trial of oral pill obeldesivir, as a post-exposure prophylaxis (not treatment), in persons that have contact with a case but do not have symptoms, has been ongoing since July, 2026. Obeldesivir has previously failed in a clinical trial for SARS-CoV-2.

The “PARTNERS” clinical trial that started in July, 2026, is evaluating (1) Infusion of an antibody cocktail MBP134, (2) Infusion of Remdesivir, and (3) Infusion of MBP134 together with Infusion of Remdesivir. Infusions are risky with a lethal disease such as Ebola, and are difficult to implement and scale to combat the current expanding outbreak in resource-limited settings.

In contrast, NV-387 Oral Gummies can be readily deployed even in the remotest parts to combat this outbreak, if successful.

Antibodies can result in the virus mutating away and escaping the drug, making the antibodies useless, as repeatedly seen during COVID-19. NV-387 relies on a unique host-side feature that all viruses still require and use no matter how much they change in the field. Therefore, it is highly unlikely that the virus can escape NV-387.

The USA has been, laudably, and proudly, the largest provider of humanitarian and relief assistance in this outbreak, with almost $1.4 Billion in contributions. The USA has already provided $887 Million, and has pledged another $500 Million, of which $267 million has been released, according to the US Department of State vii.

There is no current threat of Ebola in the USA. The US Government is active in ensuring that suspected or confirmed ebolavirus cases do not enter the general population in the USA. To this end, travel from DRC has been restricted, with pre-travel quarantine requirements imposed, and suspect travelers are directed to screening at specific airports and may be further quarantined.

Travelers going to and from Central Africa need to constantly check travel restrictions as well as travel limitations in light of these changing outbreak conditions. It is apparent that travel restrictions have been able to control the outbreak periphery to DRC alone (with few early cases in Uganda) minimizing risk to the rest of the world.

There is no approved Treatment or Vaccine for the new variant of the Bundibugyo Ebolavirus (BDBV) that is causing the current rapidly expanding outbreak of the Ebolavirus Disease (EVD) in DRC. The rare Bundibugyo strain of Ebola virus causing the current outbreak appears to be its new variant, likely freshly introduced from some animal source viii, such as fruit bats.

“Although this antiviral (Remdesivir) proved to be ineffective at targeting the Zaire Ebolavirus, there remains hope that it could have some benefit against the Bundibugyo virus, particularly if used in combination with MBP-134,” according to an article in Forbes explaining the “PARTNERS” clinical trial by the WHO organized collaboration ix. The article also notes that MBP134 contains two separate antibodies designed to, taken together, recognize multiple Ebola species.

Antibodies are highly specific to a particular strain of the virus and usually are not very effective against variants of the same virus that arise in the field. Viruses also escape antibodies readily by mutations in the field.

NV-387 is a broad-spectrum antiviral that mimics the host-side features that the virus requires, and is likely to be effective against Ebola viruses because they use the same host-side feature mimicked by NV-387.

NV-387 Oral Gummies is a drug product readily delivered orally. It does not even require swallowing effort or water, because it dissolves in the mouth by itself, simplifying delivery for even sick individuals with swallowing difficulties.

This oral delivery is an important feature that puts NV-387, a broad-spectrum antiviral, as being superior to the other approaches.

“Only safe and effective broad-spectrum antiviral drugs like NV-387 that can effectively tackle most viral infections will enable the world to combat viruses and defend the global population in the war against known and unknown nanoscopic enemies that are viruses,” commented Dr. Diwan, adding, “Today, NV-387 is the only drug in clinical development with such broad-spectrum potential that promises to combat diverse epidemics like Mpox and Ebola, to the best of our knowledge.”

The outbreak which was declared a Public Health Emergency of International Concern (“PHEIC”) by the WHO on May 17, 2026, continues to rapidly expand, outpacing containment efforts. The outbreak arose in a high traffic region bordering the Democratic Republic of Congo (DRC), with travel contacts to Uganda, and South Sudan and with 11 more nations in Africa at risk x.

NV-387 is a broad-spectrum antiviral that mimics the host-side feature called heparan sulfate proteoglycan (HSPG) that over 90-95% of human pathogenic viruses require for infecting cells. No matter how much the virus changes in the field, it continues to use HSPG, and therefore it cannot escape the drug NV-387. In contrast, Remdesivir is a small molecule inhibitor of the viral RDRP enzyme needed for making copies of the viral genome, and the virus can possibly escape by small number of mutations.

All Ebola viruses utilize HSPG as the attachment receptor prior to gaining entry into the cell. Thereafter, followed by entry into the cell inside endosomes, the ebolavirus surface glycoprotein is substantially degraded, opening up its site for binding to its cognate receptor called NPC1, thereby entering into the cytoplasm where the next steps in its replication begin.

Thus there is a strong rationale that NV-387 could be highly effective against Ebola virus infections, not just Bundibugyo, but also the Sudan and other viruses for which there are no treatments.

All previous anti-Ebola efforts have been focused on vaccines and antibodies xi. This has led to approval of therapies that are specific to the Ebolavirus Zaire strain only, albeit with limited effectiveness. This leaves out all other filoviruses of consequence: Sudan, Marburg, and the more rare Bundibugyo with no treatment or vaccine.

In contrast, if NV-387, as a broad-spectrum antiviral, is found to be effective against the Bundibugyo virus, it will likely be effective against all ebolaviruses and possibly all filoviruses; that would be a game changer for pandemic preparedness.

The case fatality rate of ebolaviruses has generally been approximately 50% in recent outbreaks, with improvements in care, including hydration therapy, corticosteroids, and other usual symptomatic treatments. Ebola viruses spread via bodily fluid secretions including fomites/sputum, as well as semen/genital secretions. Ebola virus can remain in survivors even as many as 965 days after the disease without symptoms, and can transmit through bodily secretions, suggesting possible latency. Many recent outbreaks have been ignited as a result of such reawakened-transmitted virus from a survivor. Sexual transmission was documented even as late as 482 days after disease. This persistence and possible latency of ebolavirus in immune-privileged organs (e.g. brain, eyes, gonads, where antibodies are not operative) makes it a uniquely serious threat for global transmission and sustained outbreaks.

At present, BDBV has been consistently demonstrating high crude CFR of 48% and IFR of 67% in DRC. Therefore, BDBV is of great concern as a potential pandemic disease. However, it is believed that ebolaviruses do not transmit via respiratory droplets or aerosols and rather require extensive contact with bodily fluids of an infected person. In addition, within DRC and internationally, certain protective quarantine measures for travel from the outbreak areas have been implemented.

Therefore, currently there is no apparent threat of a global pandemic.

With ever-increasing global travel, local outbreaks such as ebola can quickly travel far and wide potentially causing global pandemics, as was the case with COVID-19, if not caught in time. It is not feasible to produce a new vaccine and a new set of antibody drugs to combat every possible virus. Even if vaccines and antibodies are produced, the virus would escape by generating variants, as the world has witnessed during the COVID-19 pandemic.

ABOUT NANOVIRICIDES

NanoViricides, Inc. (the “Company”) (www.nanoviricides.com) is a clinical stage company that is creating special purpose nanomaterials for antiviral therapy. The Company’s novel nanoviricide™ class of drug candidates and the nanoviricide™ technology are based on intellectual property, technology and proprietary know-how of TheraCour Pharma, Inc. The Company has a Memorandum of Understanding with TheraCour for the development of drugs based on these technologies for all antiviral infections. The MoU does not include cancer and similar diseases that may have viral origin but require different kinds of treatments.

The Company has obtained broad, exclusive, sub-licensable, field licenses to drugs developed in several licensed fields from TheraCour Pharma, Inc. The Company’s business model is based on licensing technology from TheraCour Pharma Inc. for specific application verticals of specific viruses, as established at its foundation in 2005.

Our lead drug candidate is NV-387, a broad-spectrum antiviral drug that we plan to develop as a treatment of RSV, COVID, Long COVID, Influenza, and other respiratory viral infections, as well as MPOX/Smallpox infections. Our other advanced drug candidate is NV-HHV-1 for the treatment of Shingles. The Company cannot project an exact date for filing an IND for any of its drugs because of dependence on a number of external collaborators and consultants. The Company is currently focused on advancing NV-387 into Phase II human clinical trials.

NV-CoV-2 (API NV-387) is our nanoviricide drug candidate for COVID-19 that does not encapsulate remdesivir. NV-CoV-2-R is our other drug candidate for COVID-19 that is made up of NV-387 with remdesivir encapsulated within its polymeric micelles. The Company believes that since remdesivir is already US FDA approved, our drug candidate encapsulating remdesivir is likely to be an approvable drug, if safety is comparable. Remdesivir is developed by Gilead. The Company has developed both of its own drug candidates NV-CoV-2 and NV-CoV-2-R independently.

The Company is also developing drugs against a number of viral diseases including oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others. NanoViricides’ platform technology and programs are based on the TheraCour® nanomedicine technology of TheraCour, which TheraCour licenses from AllExcel. NanoViricides holds a worldwide exclusive perpetual license to this technology for several drugs with specific targeting mechanisms in perpetuity for the treatment of the following human viral diseases: Human Immunodeficiency Virus (HIV/AIDS), Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), Rabies, Herpes Simplex Virus (HSV-1 and HSV-2), Varicella-Zoster Virus (VZV), Influenza and Asian Bird Flu Virus, Dengue viruses, Japanese Encephalitis virus, West Nile Virus, Ebola/Marburg viruses, and certain Coronaviruses. The Company intends to obtain a license for RSV, Poxviruses, and/or Enteroviruses if the initial research is successful. As is customary, the Company must state the risk factor that the path to typical drug development of any pharmaceutical product is extremely lengthy and requires substantial capital. As with any drug development efforts by any company, there can be no assurance at this time that any of the Company’s pharmaceutical candidates would show sufficient effectiveness and safety for human clinical development. Further, there can be no assurance at this time that successful results against coronavirus in our lab will lead to successful clinical trials or a successful pharmaceutical product.

This press release contains forward-looking statements that reflect the Company’s current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by NanoViricides, Inc. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company’s expectations include, but are not limited to, those factors that are disclosed under the heading “Risk Factors” and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Although it is not possible to predict or identify all such factors, they may include the following: demonstration and proof of principle in preclinical trials that a nanoviricide is safe and effective; successful development of our product candidates; our ability to seek and obtain regulatory approvals, including with respect to the indications we are seeking; the successful commercialization of our product candidates; and market acceptance of our products.

The phrases “safety”, “effectiveness” and equivalent phrases as used in this press release refer to research findings including clinical trials as the customary research usage and do not indicate evaluation of safety or effectiveness by the US FDA.

FDA refers to US Food and Drug Administration. IND application refers to “Investigational New Drug” application. cGMP refers to current Good Manufacturing Practices. CMC refers to “Chemistry, Manufacture, and Controls”. CHMP refers to the Committee for Medicinal Products for Human Use, which is the European Medicines Agency’s (EMA) committee responsible for human medicines. API stands for “Active Pharmaceutical Ingredient”. WHO is the World Health Organization. R&D refers to Research and Development.

Contact:
NanoViricides, Inc.
[email protected]

Public Relations Contact:
[email protected]

i Clinical Symptoms of Ebola BDBV

It is thought that it may take several days after contact with a patient’s bodily fluids for the infected person to develop initial symptoms. These symptoms involve fever, headache, muscle aches and pains, and fatigue, called the “Dry Stage” symptoms. They are similar to other prevalent diseases including malaria and typhoid fever. These symptoms may last from a few days to about a week. Thereafter, the disease progresses to the “Wet Stage”, which is characterized by explosive vomiting and severe diarrhea. Anyone who comes in contact with the bodily fluids including caretakers, family members, friends, and healthcare workers, can get infected.

In the Wet Stage, the viral load keeps increasing and multi-organ failure begins progressively, and later, all of a sudden, extensive failure occurs and the patient becomes critical. There is very little possibility that a critical stage patient can survive despite all possible clinical efforts.

Some patients can respond to aggressive treatment during the Wet Phase and enter a recovery phase. Even after the viral load becomes undetectable, and the patient is discharged, overall systemic recovery takes a long time as the bodily systems need to rejuvenate. Some permanent damage such as partial or total kidney failure can occur.

BDBV primarily and severely affects the liver function, kidney function, and the blood system function, in addition to the gastrointestinal system. Its effects on the coagulation system can lead to hemorrhages in some but not all patients.

ii https://www.doctorswithoutborders.org/latest/ebola-outbreak-spreading-wildfire-across-north-kivu October 2, 2026. The Ebola Treatment Centers (ETC) are specially designed, temporarily erected wards with extreme patient isolation and personal-protective-equipment (PPE) protocols, outside hospitals, where the Ebola confirmed cases are admitted and treated. A person with symptoms is first taken into an Ebola Transit Facility, with less isolation. A blood sample is taken and sent for testing. If the RT-PCR result is positive for Ebola virus, then the person is admitted into the nearby ETC.

iii https://www.newsmax.com/world/globaltalk/ebola-united-nations-congo/2026/10/02/id/1271553/ .

iv https://www.reuters.com/business/healthcare-pharmaceuticals/rebel-held-eastern-congo-records-six-new-ebola-cases-2026-10-02/ .

v https://www.aljazeera.com/news/2026/10/2/ebola-death-toll-surpasses-4000-as-dr-congo-struggles-to-suppress-outbreak .

vi Crude CFR is easy to calculate but IFR is a more accurate measure of probability of death.

The Crude CFR is calculated simply by dividing the confirmed deaths by the confirmed number of cases on the same reporting date. It ignores the fact that the deaths are actually occurring in patients that were confirmed infected several days earlier; i.e. the time lag of sickness is not accounted for in the crude CFR. If it is accounted for, the actual fatality rate per confirmed infection (Infected Fatality Rate or IFR) would be much higher than the crude CFR. For example, if one assumes an average time lag of 21 days (Aug 14 to Sept 5), then the IFR on September 5 would be (3,175/4,945 = ) 64%. Not all infections are reported or confirmed by lab tests; however, it is likely that most deaths are counted. This produces a large uncertainty in such CFR and IFR estimates. Another way to estimate IFR would be to simply take a ratio of confirmed deaths to that of confirmed deaths plus confirmed recoveries. This metric, probability of death, is more robust and insensitive to the lag times, except it ignores patients that are still in hospital. The p(death) based on this metric is (using Sept. 10 numbers,(3,398)/(3,398 +1,671) = 67% . That said, a number of cases as well as deaths remain unconfirmed or unreported because of the regional issues.

vii https://www.state.gov/releases/office-of-the-spokesman/2026/09/united-states-pledges-additional-life-saving-health-assistance-in-response-to-ebola-outbreak/. September 23, 2026.

viii https://virological.org/t/initial-genomes-from-may-2026-bundibugyo-virus-disease-outbreak-in-the-democratic-republic-of-the-congo-and-uganda/1032

ix https://www.forbes.com/sites/omerawan/2026/07/07/new-clinical-trials-offer-hope-in-the-fight-against-ebola-in-the-democratic-republic-of-congo/

x https://www.forbes.com/sites/maryroeloffs/2026/05/25/african-health-officials-on-ebola-this-is-too-much-live-updates/

xi Substantial work was also performed to develop small chemical potentially broad-spectrum agents. Remdesivir was the only small chemical that entered the PALM clinical trials ca. 2018-2019 but failed to show effectiveness. Small chemicals are readily escaped by viruses often with just single mutations.

SOURCE: NanoViricides

Release – Eledon Pharmaceuticals Announces Presentation at the American Society of Nephrology Kidney Week 2026 Annual Meeting

Posted on by [email protected]
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Research News and Market Data on ELDN

October 5, 2026

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IRVINE, Calif., Oct. 05, 2026 (GLOBE NEWSWIRE) — Eledon Pharmaceuticals, Inc. (“Eledon”) (Nasdaq: ELDN) today announced an oral presentation will be featured at the upcoming American Society of Nephrology Kidney Week 2026 Annual Meeting taking place in Denver, CO, from October 21-25, 2026. The oral presentation will highlight patient-reported outcomes from the Phase 2 BESTOW trial evaluating tegoprubart for the prevention of rejection in kidney transplantation.

Details of the presentation are below:

Title: Patient-Reported Outcomes in the Phase 2 BESTOW Trial Comparing Tegoprubart to Tacrolimus in Kidney Transplant Recipients

Presenter: Andrew B. Adams, M.D., Ph.D., Department of Surgery, University of Minnesota Medical School; Minneapolis, Minnesota

Abstract Publication Number: FR-OR084

Session Title: The Changing Landscape of Kidney Transplantation: Clinical Innovation, Outcomes, and Healthy Policy

Session Date and Time: Friday, October 23, 2026, from 4:30PM to 6:00PM MDT

Session Room: Mile High Ballroom 4A (Convention Center)

Presentation Time: 4:40PM to 4:50 PM MDT

About Eledon Pharmaceuticals and tegoprubart

Eledon Pharmaceuticals, Inc. is a clinical stage biotechnology company that is developing immune-modulating therapies for the management and treatment of life-threatening conditions. The Company’s lead investigational product is tegoprubart, an anti-CD40L antibody with high affinity for the CD40 Ligand, a well-validated biological target that has broad therapeutic potential. The central role of CD40L signaling in both adaptive and innate immune cell activation and function positions it as an attractive target for non-lymphocyte depleting, immunomodulatory therapeutic intervention. The Company is building upon a deep historical knowledge of anti-CD40L biology to conduct preclinical and clinical studies in kidney allograft transplantation, xenotransplantation, islet cell transplantation, liver transplantation and amyotrophic lateral sclerosis (ALS). Eledon is headquartered in Irvine, California. For more information, please visit the Company’s website at www.eledon.com.

Follow Eledon Pharmaceuticals on social media: LinkedIn; X

Investor Contact:

Stephen Jasper
Gilmartin Group
(858) 525 2047
[email protected]

Media Contact:

Jenna Urban
CG Life
(212) 253 8881
[email protected]

Release – Tectonic Metals Appoints Eduard Epshtein as CFO, Bolstering Executive Team for Next Stage of Growth

Posted on by [email protected]

Research News and Market Data on TETOF

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VANCOUVER, B.C., October 5, 2026 – Tectonic Metals Inc. (“Tectonic” or the “Company”) (TSX-V: TECT; OTCQX: TETOF) is pleased to announce the appointment of Eduard Epshtein, CPA, CA, as Chief Financial Officer (“CFO”) and Corporate Secretary, effective October 1, 2026.

Mr. Epshtein brings more than two decades of experience spanning capital markets, project development, strategic transactions and corporate finance. He joins Tectonic following a 16-year tenure as CFO of Lithium Americas Corp., where he helped build the company from an exploration-stage start-up into an NYSE-listed lithium producer with a market capitalization that exceeded US$5 billion.

His appointment comes at a pivotal stage as Tectonic advances its flagship Flat Gold Project in southwest Alaska, U.S., with a number of key catalysts ahead, including the completion of its largest-ever drill program at the end of October, a maiden Mineral Resource Estimate for the Chicken Mountain intrusion target planned for the first quarter of 2027, followed by a Preliminary Economic Assessment (“PEA”) targeted for the second quarter of 2027.

Tony Reda, Co-Founder, President and CEO, commented:

“Eduard has already helped build what we are now building at Tectonic. He has taken a resource company from exploration through development and into production and understands first-hand what each stage demands – from capital and corporate infrastructure to governance, strategic partnerships and execution. Having helped guide Lithium Americas from the TSX Venture Exchange to the TSX and ultimately the NYSE, while advancing major projects and completing significant financings and transactions, he brings experience that is directly aligned with the road ahead for our Company.

“While that experience will be valuable as we advance Flat and consider our future capital markets strategy, it is Eduard’s character that stands out most: he shares our long-term approach to building Tectonic and brings loyalty, integrity and commitment to the team. We are thrilled to welcome him.”

Proven Capital Markets and Corporate Leadership Experience

As CFO of Lithium Americas Corp. from its formation in 2007 through 2023, Mr. Epshtein helped build the company from an exploration-stage start-up with a small team into a major publicly traded lithium producer. During his tenure, Lithium Americas completed its initial public offering on the TSX Venture Exchange in 2008, graduated to the Toronto Stock Exchange in 2011 and listed on the New York Stock Exchange in 2018. He subsequently played a central support role in the separation of Lithium Americas into two independent public companies, including the NYSE listing of Lithium Argentina.

Mr. Epshtein also brings extensive experience advancing large-scale resource projects through successive stages of development. He helped advance the Cauchari-Olaroz lithium project in Argentina from exploration through construction and into production, with a design capacity of 40,000 tonnes per annum and approximately US$1 billion of construction capital. He was also involved in advancing the Thacker Pass project in Nevada from exploration into construction, including the development of a multi-billion-dollar funding strategy involving the U.S. Department of Energy and General Motors.

Throughout his career, Mr. Epshtein has executed a broad range of financings and strategic transactions, including project financing, convertible debt, at-the-market offerings, strategic investments, offtake arrangements and royalties. His experience also includes structuring joint ventures and strategic arrangements involving SQM, Ganfeng Lithium and General Motors, as well as significant M&A transactions, including the Western Lithium–Lithium Americas merger and the acquisitions of Millennial Lithium and Arena Minerals.

Beyond capital markets and project development, Mr. Epshtein brings broad public-company leadership experience. At various stages of Lithium Americas’ growth, he was responsible for financial reporting, finance, treasury, risk management, internal controls, information technology, corporate secretary functions, ESG reporting, Board support, as well as legal and human resources.

Eduard Epshtein commented:

“Tectonic has reached an exciting stage in its evolution. I have spent much of my career helping build and advance resource companies through periods of significant growth, and I see many of the same ingredients here: a compelling project, an experienced and ambitious team, a strong financial position and a clear long-term vision.

“What attracted me most to Tectonic is the opportunity to help build something meaningful and exciting. I look forward to working with Tony, the Board and the entire Tectonic team as we advance Flat and build the financial, corporate and capital markets foundation to support the Company through its next stage of growth.”

Chief Financial Officer and Corporate Secretary Transition

The Company also announces that Oliver Foeste has stepped down as the Company’s CFO and Corporate Secretary, effective October 1, 2026.

“I want to sincerely thank Oliver for his contributions over the past four years and for the partnership, counsel and friendship we have shared,” added Mr. Reda. “He helped the Company navigate a significant period of growth, including its financings, public company reporting requirements and governance. We are grateful for his contributions to Tectonic and wish him every success in the future.”

Stock Option Grant and Restricted Share Unit Grant

Separately, the Company announces the following grants under its Equity Incentive Plan.

A total of 560,000 incentive stock options have been granted to an officer and an employee of the Company to purchase up to 560,000 common shares (“Option Shares”) in the capital of Tectonic.

The stock options have an exercise price of C$2.05 per Option Share, expire five years from the grant date and vest over a 36-month period in three equal installments every twelve months from the grant date.

A total of 51,000 restricted share units (“RSUs”) have been granted to an officer of the Company. The RSUs vest over a 36-month period in three equal installments every twelve months from the grant date.

About Tectonic Metals Inc.

Tectonic Metals Inc. is a mineral exploration company led by an experienced and well-respected technical and financial team with a track record of wealth creation for shareholders. The Company is focused on exploring and developing its flagship Flat Gold Project in southwestern Alaska, covering 99,840 acres of predominantly Native-owned land belonging to Doyon, Ltd., a leading Alaska Native Regional Corporation and one of Tectonic’s largest shareholders. The current focus is on advancing the Chicken Mountain target, one of six multi-kilometre-scale intrusion zones at the Flat Gold Project, where drilling has achieved a 100% success rate across 206 holes to date.

Founded by key members of the Kaminak Gold team behind the discovery and advancement of the Coffee Gold Project, which was acquired by Goldcorp for $520 million in 2016, Tectonic brings a proven track record in exploration, project advancement, capital markets and value creation. Collectively, the team has helped identify 40 million ounces of gold, advanced more than 20 projects through to feasibility, permitted 25 projects, completed over $6 billion in mergers and acquisitions and raised more than $6 billion in capital.

Tectonic’s mission is to be a shift in the game: working for our shareholders and the communities where we operate, putting people first, playing big and staying true to our word every step of the way.

On behalf of Tectonic Metals Inc.,  

Tony Reda, President and Chief Executive Officer  

For further information about Tectonic Metals Inc. or this news release, please visit our website at www.tectonicmetals.com or contact:

Keren Yun
Vice President, Investor Relations
1-888-685-8558 or [email protected].

Cautionary Note Regarding Forward-Looking Statements, Historical Information and Visual Observations

This news release contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements herein that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often, but not always, identified by words such as “may,” “will,” “should,” “anticipate,” “believe,” “expect,” “intend,” “plan,” “estimate,” “potential,” “target,” or similar terminology, or that events or conditions “may” or “will” occur.

Forward-looking statements in this release include, but are not limited to, statements regarding: the ability of Mr. Epshtein to apply his prior work experience and knowledge to assist with the Company’s growth strategy, the potential for mineralization at Tectonic’s projects; the nature, scope, and timing of future exploration activities; the interpretation of geological observations; the possible size or scale of mineralized systems; the receipt of regulatory approvals, and the anticipated benefits of current and future exploration programs.

This release also refers to historical information, including results from past exploration activities and placer production figures. Such historical information has not been independently verified by Tectonic, may not be reliable, and should not be relied upon as current, NI 43-101 compliant data.

In addition, this release contains, detailed geological notes, and descriptive observations such as alteration styles, mineralogy and visible gold. These observations are preliminary in nature, may not be representative of the entire interval or system, and should not be relied upon as a guarantee of mineralized assay results or as the basis for any investment decision. Investors and readers are cautioned that visual estimates, core photographs, and geological descriptions are not substitutes for laboratory assay results and do not demonstrate the economic viability of any mineral deposit.

Forward-looking statements are not guarantees of future performance. They are based on a number of assumptions made as of the date such statements are provided, including, among others: assumptions regarding future gold and other metal prices; currency exchange and interest rates; favourable operating and political conditions; timely receipt of permits and regulatory approvals; availability of labour, equipment, and services; stability of financial and capital markets; availability of financing on acceptable terms; accuracy of exploration data and geological models; and the ability to successfully advance planned exploration programs. Many of these assumptions are beyond the control of Tectonic and may prove to be incorrect.

Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. These risks include, without limitation: risks inherent to mineral exploration and development; volatility of commodity prices; changes in laws, regulations, and policies; delays or inability to obtain required approvals and permits; availability of financing; general economic, political, and market conditions; labour disputes and shortages; equipment and supply risks; environmental and social risks; competition; inaccuracies in exploration results or geological interpretations; and other risks detailed from time to time in the Company’s continuous disclosure filings.

Although management believes the expectations expressed in such forward-looking statements are reasonable as of the date made, there can be no assurance they will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements, historical information, or preliminary visual geological observations. Actual results and future events may differ materially from those anticipated. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Tectonic disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.