Category: Uncategorized

The OPEC Unraveling Is Coming — Small Cap Energy Investors Need to Pay Attention Now

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The United Arab Emirates officially announced Tuesday it will exit OPEC and OPEC+ effective May 1, ending a nearly 60-year membership and dealing one of the most significant structural blows the cartel has ever absorbed. For small cap energy investors, the implications go well beyond a headline — they cut directly to the viability of smaller domestic producers in a post-OPEC world.

The UAE was OPEC’s third-largest producer, operating under a quota that capped output at 3.2 million barrels per day despite having the capacity to produce closer to 5 million barrels per day. That constraint is now gone. When the Strait of Hormuz — currently throttled by the ongoing Iran conflict — eventually reopens, the UAE will have every incentive and infrastructure in place to flood the market with uncapped supply. The question for small cap investors isn’t if that happens. It’s whether their holdings can survive the price environment that follows.

The Breakeven Problem for Small Producers

This is where it gets critical. According to Dallas Fed survey data, small E&P firms — those producing fewer than 10,000 barrels per day — need roughly $68 per barrel of WTI to profitably drill new wells. Large firms cross that threshold at $59. That $9 gap matters enormously when supply-side pressure starts pushing prices lower.

Current WTI price forecasts for 2026 range from approximately $49 to $57 per barrel under normal supply conditions — already below what most small producers need to justify new drilling. Add in an unconstrained UAE ramping toward 5 million barrels per day the moment the strait clears, and that pricing pressure compounds fast.

Right now, the Iran conflict is artificially inflating oil prices and masking this risk for small cap E&P names. WTI spot prices averaged $94.65 per barrel during a recent Dallas Fed survey period, creating a window of strong cash flow for smaller producers. But that window is not permanent — and the UAE’s exit from OPEC just made the post-conflict supply surge considerably larger than markets had previously priced in.

OPEC Loses Its Shock Absorber

Energy research firm Rystad Energy noted that losing a member with 4.8 million barrels per day of capacity removes a real tool from the group’s hands, leaving Saudi Arabia to shoulder more of the burden for price stability with a weakened coalition. Fewer members means less collective discipline, and less discipline means more downside risk for oil prices over time.

The UAE’s exit reduces the number of producers participating in coordinated output decisions, accelerating a trend that has been eroding OPEC’s market authority for years — first through the U.S. shale boom, then through Qatar’s 2019 departure, and now this.

What Small Cap Investors Should Be Doing Now

The current elevated price environment is a gift — not a guarantee. Small cap energy investors should be pressure-testing their holdings against a $55–$60 WTI scenario, scrutinizing balance sheets and hedging programs, and distinguishing between producers with low-cost existing production versus those dependent on new drilling economics to sustain output. Companies with high leverage and no hedges are the most exposed when the supply picture normalizes.

The UAE didn’t just leave a cartel. It signaled that the era of coordinated supply management as a reliable price floor is deteriorating — and for small cap energy names operating on thin margins, that structural shift demands a closer look at the portfolio today, not after the Strait reopens.

Release – Resources Connection, Inc. Announces Quarterly Dividend and Dividend Payment Date

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RGP global consulting and project execution for business transformation

Research News and Market Data on RGP

DALLAS–(BUSINESS WIRE)–Apr. 28, 2026 – Resources Connection, Inc. (Nasdaq: RGP) (the “Company”) announced today that the Board of Directors has approved a cash dividend of $0.07 per share, payable on June 19, 2026 to all stockholders of record on May 21, 2026.

ABOUT RGP

RGP (Nasdaq: RGP) has been redefining professional services for over 30 years by closing the gap between advice and execution. RGP combines the flexibility of on-demand talent, the rigor of consulting, and the accountability of managed services for faster impact, smarter investment, and lower risk. The firm partners with CFOs and other C-suite leaders across finance, digital transformation, data, and cloud—connecting advisory to execution at global scale.

Based in Dallas, Texas, with offices worldwide, RGP annually engages with over 1,500 clients around the world from approximately 40 physical practice offices and multiple virtual offices. As of January 2026, RGP is proud to have served 90% percent of the Fortune 100 and has been recognized by U.S. News & World Report (2025–2026 Best Companies to Work For) and Forbes (America’s Best Midsize Employers 2026, America’s Best Management Consulting Firms 2025, World’s Best Management Consulting Firms 2025).

The Company is listed on the Nasdaq Global Select Market, the exchange’s highest tier by listing standards. To learn more about RGP, visit: http://www.rgp.com. (RGP-F)

Investor Contact:

Jennifer Ryu, Chief Financial Officer

(US+) 1-714-430-6500

[email protected]

Media Contact:

Pat Burek

Financial Profiles

(US+) 1-310-622-8244

[email protected]

Source: Resources Connection, Inc.

Powell’s Final Chapter at the Fed Opens a New Era of Market Uncertainty

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Wednesday marks what is widely expected to be Federal Reserve Chair Jerome Powell’s final policy meeting and press conference at the helm of the central bank — and while the transition has been months in the making, the full implications for markets, particularly small and microcap stocks, are only beginning to come into focus.

Powell’s term as chair officially concludes on May 15, though a lingering question remains: will he stay on as a Fed governor, a role he could hold until 2028? The answer may hinge less on politics and more on unfinished business.

The Department of Justice launched a probe earlier this year into whether Powell misled Congress about cost overruns on renovations to the Fed’s Washington headquarters — a project that has ballooned from an initial $1.9 billion estimate in 2021 to nearly $2.5 billion. Last Friday, the DOJ closed its investigation and transferred the matter to the Fed’s own inspector general. That move cleared the path for Powell’s intended successor, Kevin Warsh, whose Senate confirmation had been blocked by Republican Sen. Thom Tillis of North Carolina until the probe was resolved. Tillis quickly reversed course over the weekend, signaling his support for Warsh’s nomination.

Even so, analysts expect Powell to remain on the Fed’s board until the inspector general’s review reaches a definitive conclusion — a process that could take months. The reasoning is straightforward: Powell has publicly stated he has no intention of stepping down from the board until the investigation is fully and transparently resolved. Some economists argue his continued presence could serve as an institutional anchor during what promises to be a significant shift in how the central bank operates.

That shift is the bigger story — and the one with direct consequences for small and microcap investors.

Warsh, a former Fed governor with Wall Street credentials, has been explicit about his desire for what he calls “regime change” at the Fed. His priorities include reverting to a strict 2% inflation target, abandoning the forward guidance framework that markets have relied on for years, scaling back the Fed’s $6.7 trillion balance sheet, and reducing how frequently Fed officials communicate publicly about policy. He has also declined to commit to holding a press conference after every FOMC meeting — a practice Powell institutionalized.

For the small and microcap universe, this matters enormously. Rate policy is not a distant abstraction for smaller companies — it is a direct line item. Nearly 70% of small-cap companies generate more than 90% of their revenue domestically, making them acutely sensitive to U.S. borrowing costs. Variable rate debt, which is disproportionately common among smaller companies, becomes a margin problem when rate cuts fail to materialize.

Markets had been pricing in multiple cuts through 2026. The CME FedWatch tool now reflects expectations of no more than one cut for the year, and a majority of economists surveyed by Reuters expect rates to remain unchanged through September. If Warsh’s hawkish posture holds after confirmation — and there is little reason to believe it won’t — companies carrying heavy debt loads with near-term refinancing needs face real pressure.

The transition also introduces something arguably more dangerous than high rates: ambiguity. Less frequent communication, no forward guidance, and a new inflation framework all mean investors will be navigating without the signposts they’ve grown accustomed to. For small-cap allocators, that uncertainty translates directly into tighter positioning and a renewed premium on balance sheet quality.

Powell’s exit ends one era. What comes next is still being written — and small-cap investors would be wise to pay close attention

GDEV (GDEV) – CEO Increases Ownership Stake

Posted on by [email protected]


Tuesday, April 28, 2026

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

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

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

CEO increases ownership. The company’s founder, Chairman, and CEO, Andrey Fadeev, purchased 2,730,384 shares of the company’s stock in a private transaction from Boris Gertsovsky, co-founder and former director. Notably, following the transaction, Mr. Fadeev owns 6,709,391 shares, or approximately 37% of the company’s outstanding shares.

Transaction details. The roughly 2.7 million shares were purchased for an aggregate of $34.1 million, to be paid in three installments. The first payment of $20.0 million was paid on the closing date of March 17, 2026, with $10.0 million due on the first anniversary of the closing date, and the remaining $4.1 million due on the second anniversary of the closing date.


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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. 

Release – Greenwich LifeSciences Announces Receipt of Nasdaq Notice Regarding Late Form 10-K Filing

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Greenwich LifeSciences

Research News and Market Data on GLSI

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April 22, 2026 5:00pm EDT

STAFFORD, Texas, April 22, 2026 (GLOBE NEWSWIRE) — Greenwich LifeSciences, Inc. (Nasdaq: GLSI) (the “Company”), a clinical-stage biopharmaceutical company focused on its Phase III clinical trial, FLAMINGO-01, which is evaluating Fast Track designated GLSI-100, an immunotherapy to prevent breast cancer recurrences, today announced that on April 16, 2026, the Company received notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that, because it has not yet filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2025, the Company is not currently in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports with the Securities and Exchange Commission. The notice has no immediate effect on the listing or trading of the Company’s common stock, which continues to trade on the Nasdaq Capital Market under the symbol “GLSI.”

The Company plans to file its Form 10-K for the fiscal year ended December 31, 2025 as soon as possible, working with both of its auditors where each auditor is responsible for their own periods ending in 2024 and 2025.

About Greenwich LifeSciences, Inc.

Greenwich LifeSciences is a clinical-stage biopharmaceutical company focused on the development of GP2, an immunotherapy to prevent breast cancer recurrences in patients who have previously undergone surgery. GP2 is a 9 amino acid transmembrane peptide of the HER2 protein, a cell surface receptor protein that is expressed in a variety of common cancers, including expression in 75% of breast cancers at low (1+), intermediate (2+), and high (3+ or over-expressor) levels. Greenwich LifeSciences has commenced a Phase III clinical trial, FLAMINGO-01. For more information on Greenwich LifeSciences, please visit the Company’s website at www.greenwichlifesciences.com and follow the Company’s Twitter at https://twitter.com/GreenwichLS.

Forward-Looking Statement Disclaimer

Statements in this press release contain “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Greenwich LifeSciences Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including statements regarding the intended use of net proceeds from the public offering; consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section entitled “Risk Factors” in Greenwich LifeSciences’ Annual Report on the most recent Form 10-K for the year ended December 31, 2024, and other periodic reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Greenwich LifeSciences, Inc. undertakes no duty to update such information except as required under applicable law.

Company Contact
Snehal Patel
Investor Relations
Office: (832) 819-3232
Email: [email protected]

Investor & Public Relations Contact for Greenwich LifeSciences
Dave Gentry
RedChip Companies Inc.
Office: 1-800-RED CHIP (733 2447)
Email: [email protected]

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Source: Greenwich LifeSciences, Inc.

Released April 22, 2026

Eli Lilly’s $7B Kelonia Bet Signals a New Era for CAR-T Therapy — and a Hunting Season for Biotech Targets

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Eli Lilly is writing another large check in its aggressive diversification push, this time targeting one of oncology’s most promising frontiers. The pharmaceutical giant announced Monday it has agreed to acquire Kelonia Therapeutics in a deal valued at up to $7 billion — $3.25 billion upfront with the remainder tied to clinical, regulatory, and commercial milestones. The transaction is expected to close in the second half of 2026.

The strategic rationale centers on Kelonia’s proprietary in vivo CAR-T technology — a next-generation approach to cancer immunotherapy that sets itself apart from everything currently on the market. Traditional CAR-T treatments require physicians to extract a patient’s T-cells, engineer them in a laboratory setting outside the body, then reinfuse them — a complex, time-consuming process requiring chemotherapy preconditioning and specialized academic medical centers capable of managing the procedure. Kelonia’s platform eliminates all of that. The therapy is delivered intravenously in a single infusion, reprogramming T-cells to attack cancer directly inside the body, with no preconditioning required.

The commercial implications are significant. The existing ex-vivo CAR-T market is already producing blockbuster revenue — Johnson & Johnson’s Carvykti generated nearly $1.9 billion in sales last year for multiple myeloma alone. Gilead recently paid $7.8 billion to acquire Arcellx and its competing asset. A one-time, broadly accessible in vivo alternative that sidesteps the logistical barriers of ex-vivo therapy could expand the addressable patient population dramatically and reach community oncology settings currently unable to administer existing treatments.

For Lilly, this deal is part of a deliberate strategy to reduce its dependence on GLP-1 drugs for obesity and diabetes — the products that have defined the company’s recent run. Management has been explicit: the goal is to deploy the cash flow generated by its weight-loss franchise into therapeutic diversification. Recent deals include Centessa Pharmaceuticals for sleep disorder drugs and Orna Therapeutics for cell therapy. Kelonia extends that footprint into hematology and potentially solid tumors.

What makes this acquisition particularly noteworthy for investors watching the oncology space is what it signals downstream. Lilly’s willingness to spend $3.25 billion upfront on a platform still in early clinical stages — while acknowledging that many early-stage bets will fail — reflects a maturing view of how large pharma is valuing novel modalities. Smaller biotech companies developing differentiated delivery mechanisms, novel immune engineering platforms, or next-generation cell therapies should expect intensifying M&A interest from strategic acquirers flush with capital.

The Kelonia deal also raises the stakes for any company developing competing in vivo CAR-T or similar tumor-targeting platforms. With Lilly now in the race alongside J&J and Gilead, the race to make cancer immunotherapy more accessible — and more scalable — is entering a new, better-funded chapter. For small and microcap biotech names working in adjacent spaces, that’s both a competitive threat and a significant validation of the underlying science.

Allbirds Stock Surges 700% After Stunning Pivot From Shoes to AI Infrastructure

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Struggling footwear brand Allbirds shocked investors Wednesday with a dramatic pivot away from its core business, announcing plans to transition into artificial intelligence infrastructure—a move that sent its stock soaring more than 700% in a single session.

Shares of Allbirds, which had been trading below $3, surged to over $17 following the announcement, as investors rushed into what is now being rebranded as NewBird AI. Just a day earlier, the company’s market capitalization stood at roughly $21 million, a far cry from its peak valuation of over $4 billion.

From Sustainable Sneakers to AI Compute

The pivot comes after Allbirds effectively exited the footwear business. The company recently sold its intellectual property and key assets for $39 million to American Exchange Group, which will continue to operate the Allbirds brand independently.

Now, management is betting on a completely different future: AI compute infrastructure.

According to the company, NewBird AI plans to acquire high-performance, low-latency computing hardware and lease capacity to customers underserved by existing providers. The firm also announced it is seeking to raise up to $50 million in funding to support the transition.

The move places Allbirds among a growing list of companies attempting to capitalize on surging demand for AI infrastructure—a market fueled by rapid adoption of generative AI and dominated by players like Nvidia.

A Familiar Playbook for Troubled Companies

While the market reaction has been dramatic, the strategy itself is not entirely new. Historically, struggling companies have attempted to revive investor interest by pivoting toward high-growth sectors.

During the cryptocurrency boom, numerous firms rebranded or shifted their business models to blockchain-related ventures, often triggering short-term spikes in share prices. Many of those moves, however, failed to deliver long-term value.

Allbirds’ pivot raises similar questions: Is this a credible transformation, or a speculative attempt to ride the AI wave?

Execution Risk Remains High

Entering the AI infrastructure space presents significant challenges. The business is capital-intensive, highly competitive, and technologically complex. Established players—including hyperscalers and semiconductor leaders—already dominate the market.

For a company that recently shuttered its retail footprint and saw revenues decline sharply—from $298 million in 2022 to $152 million in 2025—the transition represents a steep uphill climb.

Moreover, success in AI infrastructure depends not only on hardware acquisition but also on customer relationships, scale, and operational expertise, areas where Allbirds has limited experience.

Market Reaction vs. Fundamental Reality

The surge in Allbirds’ stock highlights the continued enthusiasm surrounding AI-related investments. Even small-cap companies with limited exposure to the sector are seeing outsized moves when they announce AI strategies.

However, investors should be cautious. The gap between announcement-driven momentum and long-term execution can be substantial.

Allbirds’ transformation into NewBird AI marks one of the more unusual pivots in recent market history. While the stock’s explosive move reflects strong demand for AI exposure, the company’s ability to successfully transition from footwear to high-performance computing remains highly uncertain.

For investors, the story underscores a broader theme: in today’s market, AI narratives can drive rapid gains—but fundamentals ultimately determine staying power.

Four Quarters and Counting: Why Small Caps Keep Winning While Mega Caps Stumble

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The numbers are in, and small and microcap stocks did something in Q1 2026 that barely anyone predicted going into the year — they survived.

That may sound like a low bar, but context matters. The first quarter was anything but quiet. Global equity markets started 2026 on solid footing before the U.S.-Israel conflict with Iran rattled investor confidence, shut down the Strait of Hormuz, and sent energy prices surging past $110 a barrel. Sticky inflation, elevated unemployment, tariff uncertainty, and fears of a broader market correction were already in the backdrop. Against all of that, the Russell 2000 gained 0.9% and the Russell Microcap advanced 1.5% in Q1 2026.

Meanwhile, the large-cap Russell 1000 declined 4.2% while the mega-cap Russell Top 50 fell 7.9% — what one firm has aptly called the “Mag 7” becoming the “Lag 7.”

This marks the fourth consecutive quarter in which the microcap index beat the major domestic large-cap indexes — a streak that’s becoming harder to dismiss as a blip. The 12-month spread between the small and microcap indexes and their large-cap counterparts is now the fourth widest since the Russell Microcap’s inception in 2000.

The one-year numbers drive the point home even further. For the period ended March 31, 2026, the Russell Microcap gained 45.8%, the Russell 2000 advanced 25.7%, the Russell 1000 rose 17.7%, and the Russell Top 50 increased 19.5%.

What’s fueling the durability? Several forces are working simultaneously in favor of smaller companies. The Federal Reserve’s rate-cutting cycle, which delivered 175 basis points of cuts, has been particularly potent for smaller companies — nearly 40% of Russell 2000 constituents carry floating-rate debt, meaning rate relief hits their bottom lines directly and immediately. The reshoring movement continues to channel investment toward domestically focused manufacturers and industrial suppliers — the exact profile of the average small cap company. And the One Big Beautiful Bill Act’s provisions on bonus depreciation and R&D expensing have given capital-intensive smaller companies a meaningful cash flow lift.

Sector performance within small caps told its own story. Energy, Industrials, and Materials made the biggest positive contributions in Q1, while Health Care, Information Technology, and Consumer Discretionary were the primary detractors. At the industry level, oil, gas and consumable fuels, energy equipment and services, and electrical equipment led gains. The Iran conflict, while painful for the broader market, actually became a tailwind for small-cap energy names — a sector that entered the year already cheap and underleveraged.

The valuation case remains compelling. Even with the most recent outperformance, the Russell 2000 remains extremely undervalued compared to its relative valuation range over the past 25 years. Royce

For investors still waiting on the sidelines for “better conditions” to rotate into small and microcap names, Q1 2026 delivered another uncomfortable data point: the rotation is already happening, and it’s already in its fourth consecutive quarter of confirmation.

The Magnificent Seven had a long, good run. The market appears to be moving on.

Burry vs. Palantir: Is the AI Era Exposing a Crack in the Foundation?

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Michael Burry has built a career on being early — and loudly wrong before being right. The founder of Scion Asset Management, immortalized for his prescient bet against the U.S. housing market ahead of the 2008 financial crisis, turned his sights on Palantir Technologies (PLTR) this week with a pointed post on X that sent the stock tumbling roughly 7% before he quietly deleted it.

The claim was simple and blunt, as Burry tends to be: Anthropic, the AI startup behind the Claude platform, is “eating Palantir’s lunch.”

Whether he’s right is a separate question. What’s not debatable is that the market paid attention.

What Burry Actually Said

Burry’s thesis centered on Anthropic’s explosive revenue growth — from $9 billion to $30 billion in annual recurring revenue (ARR) in a matter of months — as evidence that enterprise customers are gravitating toward AI solutions that are “easier, cheaper, and more intuitive.” His argument frames Palantir less as a high-growth technology company and more as a labor-intensive consulting business, pointing to the company’s reliance on Forward Deployed Engineers (FDEs) — Palantir staff embedded inside client organizations for months at a time to implement and maintain its platforms.

That model, Burry argued, is structurally vulnerable as direct AI integrations become more accessible. “It took $PLTR 20 years to get to $5 billion,” he noted, while Anthropic is scaling at a pace that suggests the market may be ready to reward the brains of the AI revolution over the operating systems built around it.

This isn’t a new position for Burry. He disclosed a significant short position in Palantir via long-dated put options as far back as September 2025.

The Bull Case: Palantir’s Moat is Real

Not everyone on Wall Street is ready to write Palantir’s eulogy. Wedbush analyst Dan Ives maintains an Outperform rating with a $230 price target, arguing that Palantir occupies a uniquely defensible position at the intersection of AI and federal government infrastructure. The argument: you cannot run sophisticated AI on sensitive government data without the kind of secure, structured, and compliant data architecture that Palantir provides.

That argument gained added texture this year when the Trump administration banned Anthropic from Pentagon systems following a dispute over AI safety guardrails. Palantir was reportedly ordered to remove Claude from its Maven Smart System and rebuild parts of the platform. That incident, while disruptive in the short-term, arguably underscores the stickiness of Palantir’s enterprise relationships — and the risk that pure AI model providers face in regulated environments where trust, compliance, and security clearances matter as much as raw capability.

Palantir has also posted ten consecutive quarters of accelerating revenue growth, a track record that speaks for itself regardless of how the competitive landscape evolves.

The Bear Case: Valuation Leaves Little Room for Error

Where the bull case gets complicated is on valuation. Morgan Stanley analyst Sanjit Singh, while acknowledging Palantir’s standing as a “clear winner through the first stage of the AI cycle,” has flagged that the stock currently trades at roughly 38 times 2027 sales. At that multiple, even strong execution may not be enough to drive meaningful upside. The bar is simply very high.

Burry’s consulting-business critique also has some factual grounding. Palantir’s 10-K does categorize its FDE deployments under professional services — a labor-driven revenue model that is inherently harder to scale than a software subscription or API-based product. As Anthropic and similar companies lower the barrier to deploying enterprise AI, the question of whether Palantir’s hands-on model remains a differentiator or becomes a liability is a fair one to ask.

The Bigger Picture

What this week’s episode illustrates isn’t necessarily that Burry is right or wrong about Palantir specifically. It’s that the AI investment landscape is entering a more complex phase — one where the market is beginning to draw distinctions between infrastructure plays, model providers, and application layers, and debating which of those tiers captures the most durable value.

Anthropic’s valuation recently reached $380 billion, a figure that reflects investor conviction that the model layer is where the leverage lives. Palantir’s case rests on the idea that data infrastructure and operational trust — particularly in government — represent a moat that model providers cannot easily replicate.

Both arguments have merit. The risk for investors is that at current valuations, both stocks demand a level of confidence in the future that leaves little margin for disappointment.

As always, one social media post — even a deleted one — is not a thesis. But when Michael Burry posts, it’s worth understanding exactly what he’s saying and why the market reacted the way it did.

Release – Xcel Brands, Inc. Announces Fourth Quarter Year-End 2025 Financial Results

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Research News and Market Data on XELB

April 7, 2026 at 4:55 PM EDT

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  • Net loss on a GAAP basis was $2.8 million for the current quarter compared with a net loss of $7.1 million for the prior year quarter, each period inclusive of various non-cash charges, representing a $4.3 million improvement year-over-year.
  • Net loss on a non-GAAP basis was $1.6 million for the current and prior year quarters.
  • Current quarter Adjusted EBITDA was negative $0.61 million, compared with Adjusted EBITDA of negative $0.79 million for the prior year quarter, representing a 24% improvement.
  • Full year Adjusted EBITDA for 2025 was negative $2.3 million, compared with Adjusted EBITDA of negative $3.5 million for the prior year, representing a 35% improvement.

NEW YORK, April 07, 2026 (GLOBE NEWSWIRE) — Xcel Brands, Inc. (NASDAQ: XELB) (“Xcel” or the “Company”), a media and consumer products company with significant expertise in livestream shopping and social commerce, today announced its financial results for the quarter and year ended December 31, 2025.

Robert W. D’Loren, Chairman and Chief Executive Officer of Xcel commented I am pleased with the progress we are making with our legacy brands and all of our new influencer led brands. These new influencer led brands will be launching throughout 2026.” He further commented, “the Company is on track to return to profitability, and we expect to achieve our goal of total brand portfolio reach of 100 million social media followers across our brands”.

Fourth Quarter 2025 Financial Results

Total revenue for the fourth quarter of 2025 was $1.2 million, flat from the prior year quarter.

Direct operating costs and expenses decreased approximately $0.6 million (-22%) from the prior year quarter to $2.2 million in the current quarter. This decrease reflects the various cost reduction actions previously taken by management to restructure and transform the Company’s business model. Currently, the Company has reduced its direct operating expenses to an expected run rate of less than $9 million per annum.

During the prior year quarter, the Company recognized a $3.9 million non-cash impairment charge attributable to the investment in the Isaac Mizrahi brand, whereby there was no similar charge in the current year quarter.

Net loss attributable to Xcel Brands stockholders for the quarter was approximately $2.8 million, or $(0.55) per share, compared with a net loss of $7.1 million, or $(3.00) per share, for the prior year quarter.

After adjusting certain cash and non-cash items, results on a non-GAAP basis were a net loss of approximately $1.6 million, or $(0.32) per share for the current quarter and a net loss of approximately $1.6 million, or $(0.69) per share, for the prior year quarter. Adjusted EBITDA was negative $0.61 million for the current quarter and negative $0.79 million in the prior year quarter, representing a year-over-year improvement of 24%.   

Full year 2025 Financial Results

Total revenue for the current year was $4.9 million, representing a decrease of approximately $3.3 million (42%) from the prior year. This decrease was primarily driven by a decline in net licensing revenue as a result of the June 30, 2024, divestiture of the Lori Goldstein brand, and to a lesser extent by the $0.35 million impact of the prior year sell-off of certain residual jewelry inventory and all remaining Longaberger inventory. However, management anticipates that the upcoming launches of new brands will drive revenue growth in 2026 and beyond.

Direct operating costs and expenses decreased approximately $4.2 million (-33%) from the prior year to $8.6 million in the current year. This decrease primarily reflects the various cost reductions previously taken by management to restructure and transform the Company’s business model, and to a lesser extent the impact of the divestiture of the Lori Goldstein brand in 2024.

During the current year, the Company recognized a $6.0 million non-cash loss to write the value of its investment in the Isaac Mizrahi brand down to zero, as well as a $1.9 million loss on early extinguishment of debt, related to the refinancing of its term loan debt.

Net loss attributable to Xcel Brands stockholders for the current year was approximately $17.5 million, or $(5.08) per share, compared with a net loss of $22.4 million, or $(9.84) per share, for the prior year. The prior year period results notably included a $11.8 million loss from equity method investments, predominantly attributable to the Isaac Mizrahi brand.

After adjusting for certain cash and non-cash items, results on a non-GAAP basis were a net loss of approximately $5.2 million, or $(1.52) per share for the current year and a net loss of approximately $5.1 million, or $(2.23) per share, for the prior year. Adjusted EBITDA was negative $2.3 million for the current year and negative $3.5 million in the prior year, representing a year-over-year improvement of 35%.

Balance Sheet

The Company’s balance sheet at December 31, 2025, reflected stockholders’ equity of approximately $15.8 million and unrestricted cash and cash equivalents of approximately $1.2 million. The Company’s balance sheet at December 31, 2025 also reflected $12.7 million of term loan debt, of which $3.3 million is payable in the next 12 months, whereby $1.0 million of restricted cash becomes unrestricted, and the majority of the interest expense is deferred until 2027.

Conference Call and Webcast

The Company will host a conference call with members of the executive management team to discuss these results with additional comments and details at 5:00 p.m. Eastern Time on April 7, 2026. A webcast of the conference call will be available live on the Investor Relations section of Xcel’s website at www.xcelbrands.com. Interested parties unable to access the conference call via the webcast may dial 800-715-9871 or 646-307-1963 and use the conference ID 4508248. A replay of the webcast will be available on Xcel’s website.www.xcelbrands.com

About Xcel Brands

Xcel Brands, Inc. (NASDAQ: XELB) is a media and consumer products company engaged in the design, licensing, marketing, live streaming, and social commerce sales of branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. Xcel was founded in 2011 with a vision to reimagine shopping, entertainment, and social media as social commerce. Xcel owns the Halston, Judith Ripka, and C. Wonder brands, as well as the co-branded collaboration brands TowerHill by Christie Brinkley, Trust. Respect. Love by Cesar Millan, GemmaMade by Gemma Stafford and Off/Duty by Coco Rocha brand and also holds noncontrolling interests or long-term license agreement in MesaMia by Jenny Martinez. Xcel also owns and manages the Longaberger by Shannon Doherty brand through its controlling interest in Longaberger Licensing, LLC. Xcel is pioneering a modern consumer products sales strategy which includes the promotion and sale of products under its brands through interactive television, digital live-stream shopping, social commerce, brick-and-mortar retailers, and e-commerce channels to be everywhere its customer’s shop. The company’s previously owned and current brands have generated in excess of $5 billion in retail sales via livestreaming in interactive television and digital channels alone, and has over 20,000 hours of content production time in live-stream and social commerce. The brand portfolio reaches in excess of 46 million social media followers with broadcast reach into 200 million households. Headquartered in New York City, Xcel Brands is led by an executive team with significant live streaming, production, merchandising, design, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. For more information, visit www.xcelbrands.com.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release, including statements regarding future events, our future financial performance, business strategy and plans and objectives of management for future operations, are forward-looking statements. We have attempted to identify forward-looking statements by terminology including “anticipates,” “believes,” “can,” “continue,” “ongoing,” “could,” “estimates,” “expects,” “intends,” “may,” “appears,” “suggests,” “future,” “likely,” “goal,” “plans,” “potential,” “projects,” “predicts,” “seeks,” “should,” “would,” “guidance,” “confident” or “will” or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements regarding our anticipated revenue, expenses, profitability, strategic plans and capital needs. These statements are based on information available to us on the date hereof and our current expectations, estimates and projections and are not guarantees of future performance. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors, including, without limitation, the risks discussed in the “Risk Factors” section and elsewhere in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and its other filings with the SEC, which may cause our or our industry’s actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time, and it is not possible for us to predict all risk factors, nor can we address the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained in any forward-looking statements. You should not place undue reliance on any forward-looking statements. Except as expressly required by the federal securities laws, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.

For further information please contact:
Seth Burroughs
Xcel Brands
[email protected]

Non-GAAP net income and non-GAAP diluted EPS are non-GAAP unaudited terms. We define non-GAAP net income as net income (loss) attributable to Xcel Brands, Inc. stockholders, exclusive of amortization of trademarks, income (loss) from equity method investments, stock-based compensation and cost of licensee warrants, loss on early extinguishment of debt (if any), gains on sales of assets and investments (if any), asset impairment charges (if any), and income taxes (if any). Non-GAAP net income (loss) and non-GAAP diluted EPS measures do not include the tax effect of the aforementioned adjusting items, due to the nature of these items and the Company’s tax strategy.

Adjusted EBITDA is a non-GAAP unaudited measure, which we define as net income (loss) attributable to Xcel Brands, Inc. stockholders before interest and finance expenses (including loss on extinguishment of debt, if any), accretion of lease liability for exited leases, income taxes, other state and local franchise taxes, depreciation and amortization, income (loss) from equity method investments, asset impairment charges, stock-based compensation and cost of licensee warrants, gains on sales of assets and investments, and costs associated with restructuring of operations. Costs associated with restructuring of operations include operating losses generated by certain of our businesses that have been restructured or discontinued (i.e., wholesale apparel and fine jewelry), as well as non-cash charges associated with the restructuring of certain contractual arrangements.

Management uses non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA as measures of operating performance to assist in comparing performance from period to period on a consistent basis and to identify business trends relating to our results of operations. Management believes non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA are also useful because these measures adjust for certain costs and other events that management believes are not representative of our core business operating results, and thus these non-GAAP measures provide supplemental information to assist investors in evaluating our financial results.

Non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA should not be considered in isolation or as alternatives to net income, earnings per share, or any other measure of financial performance calculated and presented in accordance with GAAP. Given that non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA are financial measures not deemed to be in accordance with GAAP and are susceptible to varying calculations, our non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA may not be comparable to similarly titled measures of other companies, including companies in our industry, because other companies may calculate these measures in a different manner than we do. In evaluating non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA, you should be aware that in the future we may or may not incur expenses similar to some of the adjustments in this document. Our presentation of non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA does not imply that our future results will be unaffected by these expenses or any unusual or non-recurring items. When evaluating our performance, you should consider non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA alongside other financial performance measures, including our net income and other GAAP results, and not rely on any single financial measure.

View full release here.

Release – Greenwich LifeSciences Provides Update on Patent Claims Potentially Doubling GP2 Market Potential

Posted on by [email protected]

Research News and Market Data on GLSI

 Download as PDF

April 07, 2026 6:00am EDT

STAFFORD, Texas, April 07, 2026 (GLOBE NEWSWIRE) — Greenwich LifeSciences, Inc. (Nasdaq: GLSI) (the “Company”), a clinical-stage biopharmaceutical company focused on its Phase III clinical trial, FLAMINGO-01, which is evaluating Fast Track designated GLSI-100, an immunotherapy to prevent breast cancer recurrences, today provided an update on new patent claims based on FLAMINGO-01 statistically significant open label immune response and recurrence rate data.

  • Statistically significant immune response and recurrence rate data is the basis for new claims recently filed that GLSI-100 clinically benefits non-HLA-A*02 patients, which the Company believes increases the market for GLSI-100 by an additional 100% to 88,000 new patients per year in the US and Europe.
  • The claims also show a favorable comparison to the blinded HLA-A*02 arms of FLAMINGO-01, without any unblinding.
  • The invention is solely owned by the Company. If the patent claims are granted, following successful patent prosecution, the patent could provide patent protection through 2045.

The Company plans to expand its immune response analysis of GP2 specific T cells by sequencing the DNA of a patient’s T cells at baseline and after treatment with GP2. The T cell sequences can be compared to the immune response changes over time.

CEO Snehal Patel commented, “We believe that these patent claims, based on statistically significant data, support the enrollment of patients independent of HLA type. In the US, we have already started to enroll both HLA-A*02 and non-HLA-A*02 patients in the same randomized arms in FLAMINGO-01, based on the FDA’s recent review of such protocol changes. The Company will have the option to pursue approval for both HLA-A*02 and non-HLA-A*02 patients using the increased statistical power of a combined analysis of the two patient groups together with the potential to double the market for GP2 to up to $10 billion in revenue per year.”

About FLAMINGO-01 Open Label Phase III Data

More than 1,000 patients have been screened with a current screen rate of approximately 800 patients per year. The 250 patient non-HLA-A*02 arm is now fully enrolled, where all patients received GLSI-100, which is 5 times more treated patients and recurrence rate data than the approximately 50 patients treated in the Phase IIb trial. The Primary Immunization Series (PIS), which includes the first 6 GLSI-100 injections over the first 6 months and is required to reach peak protection, is followed by 5 booster injections given every 6 months to prolong the immune response, thereby providing longer-term protection.

  • In the non-HLA-A*02 arm, a preliminary analysis of recurrence rates after the PIS is completed shows an approximately 80% reduction in recurrence rate.
  • This observation is trending similarly to the Phase IIb trial results and hazard ratio where HLA-A*02 patients were treated and where breast cancer recurrences were reduced up to 80% compared to a 20-50% reduction in recurrence rate by other approved products.
  • The immune response at baseline prior to any GLSI-100 treatment, the increasing immune response during the PIS, and the safety profile of non-HLA-A*02 patients is trending similarly to the HLA-A*02 arms of FLAMINGO-01 and to the Phase IIb study.

Analysis of the open label data from FLAMINGO-01 has been conducted in a manner that maintains the study blind. The open label recurrence rate, immune response, and safety data is based on the patients enrolled to date in FLAMINGO-01 and the data provided by the clinical sites so far, which is not completed or fully reviewed, and is thus preliminary. While comparing any preliminary FLAMINGO-01 data to the Phase IIb clinical trial data may be possible, these preliminary results are not a prediction of future results, and the results at the end of the study may differ.

About GLSI-100 Phase IIb Study

In the prospective, randomized, single-blinded, placebo-controlled, multi-center (16 sites led by MD Anderson Cancer Center) Phase IIb clinical trial of HLA-A*02 breast cancer patients, 46 HER2/neu 3+ over-expressor patients were treated with GLSI-100, and 50 placebo patients were treated with GM-CSF alone. After 5 years of follow-up, there was an 80% or greater reduction in cancer recurrences in the HER2/neu 3+ patients who were treated with GLSI-100, followed, and remained disease free over the first 6 months, which we believe is the time required to reach peak immunity and thus maximum efficacy and protection. The Phase IIb results can be summarized as follows:

  • 80% or greater reduction in metastatic breast cancer recurrence rate over 5 years of follow-up with a peak immune response at 6 months and well-tolerated safety profile.
  • The PIS elicited a potent immune response as measured by local skin tests and immunological assays.

About FLAMINGO-01 and GLSI-100

FLAMINGO-01 (NCT05232916) is a Phase III clinical trial designed to evaluate the safety and efficacy of Fast Track designated GLSI-100 (GP2 + GM-CSF) in HER2 positive breast cancer patients who had residual disease or high-risk pathologic complete response at surgery and who have completed both neoadjuvant and postoperative adjuvant trastuzumab based treatment. The trial is led by Baylor College of Medicine and currently includes US and European clinical sites from university-based hospitals and academic and cooperative networks with plans to open up to 150 sites globally. In the double-blinded arms of the Phase III trial, approximately 500 HLA-A*02 patients are planned to be randomized to GLSI-100 or placebo, and up to 250 patients of other HLA types are planned to be treated with GLSI-100 in a third arm. The trial has been designed to detect a hazard ratio of 0.3 in invasive breast cancer-free survival, where 28 events will be required. An interim analysis for superiority and futility will be conducted when at least half of those events, 14, have occurred. This sample size provides 80% power if the annual rate of events in placebo-treated subjects is 2.4% or greater.

For more information on FLAMINGO-01, please visit the Company’s website here and clinicaltrials.gov here. Contact information and an interactive map of the majority of participating clinical sites can be viewed under the “Contacts and Locations” section. Please note that the interactive map is not viewable on mobile screens. Related questions and participation interest can be emailed to: [email protected]

About Breast Cancer and HER2/neu Positivity

One in eight U.S. women will develop invasive breast cancer over her lifetime, with approximately 300,000 new breast cancer patients and 4 million breast cancer survivors. HER2 (human epidermal growth factor receptor 2) protein is a cell surface receptor protein that is expressed in a variety of common cancers, including in 75% of breast cancers at low (1+), intermediate (2+), and high (3+ or over-expressor) levels.

About Greenwich LifeSciences, Inc.

Greenwich LifeSciences is a clinical-stage biopharmaceutical company focused on the development of GP2, an immunotherapy to prevent breast cancer recurrences in patients who have previously undergone surgery. GP2 is a 9 amino acid transmembrane peptide of the HER2 protein, a cell surface receptor protein that is expressed in a variety of common cancers, including expression in 75% of breast cancers at low (1+), intermediate (2+), and high (3+ or over-expressor) levels. Greenwich LifeSciences has commenced a Phase III clinical trial, FLAMINGO-01. For more information on Greenwich LifeSciences, please visit the Company’s website at www.greenwichlifesciences.com and follow the Company’s Twitter at https://twitter.com/GreenwichLS.

Forward-Looking Statement Disclaimer

Statements in this press release contain “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Greenwich LifeSciences Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including statements regarding the intended use of net proceeds from the public offering; consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section entitled “Risk Factors” in Greenwich LifeSciences’ Annual Report on the most recent Form 10-K for the year ended December 31, 2024, and other periodic reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Greenwich LifeSciences, Inc. undertakes no duty to update such information except as required under applicable law.

Company Contact
Snehal Patel
Investor Relations
Office: (832) 819-3232
Email: [email protected]

Investor & Public Relations Contact for Greenwich LifeSciences
Dave Gentry
RedChip Companies Inc.
Office: 1-800-RED CHIP (733 2447)
Email: [email protected]

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Source: Greenwich LifeSciences, Inc.

Released April 7, 2026

Release – NeuroSense Granted Brazilian Patent Covering PrimeC Composition

Posted on by [email protected]

Research News and Market Data on NRSN

  • Patent Protection Through October 2042
  • Follows prior patent grants in the U.S. and Australia
  • Further strengthens NeuroSense’s global intellectual property portfolio

CAMBRIDGE, Mass., April 6, 2026 /PRNewswire/ — NeuroSense Therapeutics Ltd. (NASDAQ: NRSN) (“NeuroSense” or the “Company”), a late-clinical stage biotechnology company developing novel treatments for severe neurodegenerative diseases, today announced that the Brazilian Patent and Trademark Office (INPI) has granted Brazilian Patent No. BR 112024007727-6, entitled “Compositions Comprising Ciprofloxacin and Celecoxib.”

The granted Brazilian patent, following prior approval of the corresponding U.S. patent (12,097,185) and Australian patent (2022370513), provides protection for NeuroSense’s proprietary PrimeC composition in Brazil and extends patent coverage through October 2042, further strengthening the Company’s global intellectual property estate and supporting the long-term development and potential commercialization of PrimeC in ALS, Alzheimer’s disease and additional neurodegenerative indications.

“This patent grant further reinforces the strength and durability of our intellectual property strategy around PrimeC,” said Alon Ben-Noon, Chief Executive Officer of NeuroSense. “Securing composition-of-matter protection in Brazil is another important step in expanding our global IP footprint as we advance PrimeC toward pivotal development and potential commercialization.”

PrimeC is a proprietary fixed-dose oral therapy combining ciprofloxacin and celecoxib in a synchronized, extended-release formulation specifically targeted to deliver both agents in a coordinated manner – a key differentiator versus simple co-administration. The formulation is designed to enable consistent exposure across multiple disease pathways implicated in ALS, including neuroinflammation, iron dysregulation, and miRNA dysregulation, supporting a multi-target disease-modifying approach.

We are preparing for initiation of a Phase 3 pivotal clinical trial for PrimeC in ALS (PARAGON), following positive Phase 2b PARADIGM results and clearance from the FDA.

About NeuroSense

NeuroSense Therapeutics, Ltd. is a clinical-stage biotechnology company focused on discovering and developing treatments for patients suffering from debilitating neurodegenerative diseases. NeuroSense believes that these diseases, which include amyotrophic lateral sclerosis (ALS), Alzheimer’s disease and Parkinson’s disease, among others, represent one of the most significant unmet medical needs of our time, with limited effective therapeutic options available for patients to date. Due to the complexity of neurodegenerative diseases and based on strong scientific research on a large panel of related biomarkers, NeuroSense’s strategy is to develop combined therapies targeting multiple pathways associated with these diseases.

For additional information, we invite you to visit our website and follow us on LinkedIn, YouTube and X. Information that may be important to investors may be routinely posted on our website and these social media channels.

About PrimeC

PrimeC, NeuroSense’s lead drug candidate, is a novel extended-release oral formulation composed of a unique fixed-dose combination of two FDA-approved drugs: ciprofloxacin and celecoxib. PrimeC is designed to synergistically target several key mechanisms of ALS and AD, that contribute to neuron degeneration, inflammation, iron accumulation and impaired ribonucleic acid (“RNA”) regulation to potentially inhibit the progression of ALS and AD.

About ALS

Amyotrophic lateral sclerosis (“ALS”) is an incurable neurodegenerative disease that causes complete paralysis and death within 2-5 years from diagnosis. Every year, more than 5,000 people are diagnosed with ALS in the U.S. alone, with an annual disease burden of $1 billion. The number of people living with ALS is expected to grow by 24% by 2040 in the U.S. and EU.

About Alzheimer’s Disease
Alzheimer’s disease (AD) is a progressive neurodegenerative disorder and the leading cause of dementia worldwide, affecting more than 30 million people globally. AD is characterized by memory loss, cognitive decline, and behavioral changes, and currently has no cure. Existing therapies provide only limited symptomatic relief, leaving a significant unmet need for disease-modifying treatments that can slow or halt progression. Given the complexity of AD, approaches that target multiple disease mechanisms simultaneously, such as PrimeC, hold potential to deliver meaningful therapeutic advances for patients and their families.

Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on NeuroSense Therapeutics’ current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict and include statements regarding PrimeC pivotal trial. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. The future events and trends may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward looking statements. These risks include the risk that we do not complete in a timely fashion the PrimeC pivotal trial, and that the single pivotal trial will not be sufficient to support a New Drug Application submission; uncertainty regarding the timing of regulatory filings, meetings and regulatory decisions; outcomes and the timing of current and future clinical trials; the risk the PrimeC will not advance towards later-stage development, timing for reporting data, including from the study of PrimeC in Alzheimer’s disease; that the study will not be successful; the ability of NeuroSense to remain listed on Nasdaq; the going concern reference in our financial statements and our need for substantial additional financing to achieve our goals; and other risks and uncertainties set forth in NeuroSense’s filings with the Securities and Exchange Commission (SEC). You should not rely on these statements as representing our views in the future. More information about the risks and uncertainties affecting NeuroSense is contained under the heading “Risk Factors” in the Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 31, 2026 and NeuroSense’s subsequent filings with the SEC. Forward-looking statements contained in this announcement are made as of this date, and NeuroSense undertakes no duty to update such information except as required under applicable law.

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SOURCE NeuroSense

For further information: For further information: [email protected], +972 (0)9 799 6183

Consumer Sentiment Just Hit a 3-Month Low

Posted on by [email protected]

The American consumer is starting to crack, and the timing could not be worse for small-cap companies heading into earnings season.

The University of Michigan’s Index of Consumer Sentiment closed March at a final reading of 53.3 — below the 54 economists had forecast, down 5.8% from February, and the lowest reading since December. The drop was broad-based, cutting across all age groups and political affiliations, and it arrived just as small-cap stocks were already absorbing a brutal month of rising yields, a stalled rate-cut timeline, and a commodity shock with no clear end in sight.

The culprits are familiar by now: surging gas prices and stock market volatility tied directly to the Iran conflict. With the Strait of Hormuz still largely blocked and Brent crude trading above $110 per barrel, gas prices have risen more than $1 on average over the past month alone, according to AAA. That kind of increase hits consumers immediately and visibly — every fill-up is a reminder that something is wrong — and it has a well-documented drag on discretionary spending.

For small-cap companies, weakening consumer sentiment is not an abstract concern. These businesses — regional retailers, restaurant operators, consumer services companies, domestic manufacturers — are more directly exposed to shifts in consumer behavior than their large-cap counterparts, and they have fewer tools to manage the fallout. They can’t absorb margin compression as long, can’t hedge as efficiently, and don’t have the brand loyalty or pricing power that insulates household names from demand slowdowns.

The inflation expectations embedded in Friday’s data make the picture more complicated. Year-ahead inflation forecasts jumped to 3.8% from 3.4% in February — the largest single-month increase since April 2025, when sweeping global tariffs rattled markets. Long-term inflation expectations came in at 3.2%, still well above the pre-pandemic baseline. When consumers believe inflation is sticky, they pull back on big-ticket discretionary purchases and shift spending toward necessities. That behavioral shift flows directly into the revenue lines of the small-cap consumer sector.

There’s another dimension here that matters specifically to small-cap investors. Middle- and higher-income households reported some of the sharpest drops in sentiment this month, driven in part by stock market losses. With equity exposure now accounting for nearly 40% of household net worth — more than double its share during the oil shocks of the 1990s — market volatility has a faster and deeper psychological impact on consumer behavior than it did in previous energy crises. When portfolios fall, confidence follows, and discretionary spending follows confidence.

The S&P 500 is down 6.5% over the past month. The Dow is off 6.8%. The Russell 2000 has been even harder hit, entering correction territory earlier this month as the combination of higher-for-longer rates, a debt maturity wall, and energy-driven inflation converged at the worst possible time.

Consumer sentiment had been gradually recovering before March’s reversal, which means this isn’t a continuation of a trend — it’s a break in one. Whether it stabilizes or deteriorates further depends almost entirely on how long the Iran conflict persists and whether gas prices begin to pull back. Until there’s clarity on the Strait of Hormuz, small-cap consumer-facing companies should be approached with caution heading into Q1 earnings.

The data is speaking. The question is whether the market is listening.