Two developments have since materially changed the context for that structure. First, on July 20, 2026, PharmAla executed a definitive license agreement granting Jupiter Neurosciences, Inc. (NASDAQ:JUNS) exclusive U.S. rights to ALA-002, demonstrating that PharmAla is able to monetize its assets directly on attractive terms while retaining meaningful downstream economics. Second, it has been publicly reported that Resilient Pharmaceuticals (formerly Lykos Therapeutics and MAPS Public Benefit Corporation) has resubmitted a New Drug Application for MDMA-assisted therapy for PTSD to the FDA. PharmAla is not a party to that application and cannot verify its status; however, if accurate, such a filing would represent a constructive development for the regulatory pathway applicable to MDXX-class therapeutics generally.

In light of these developments, PharmAla has made the decision to exercise its option to cancel the proposed licensing of APA-01 to Restora Neurosciences, in accordance with the terms of the SPV Agreement. PharmAla retains full ownership of APA-01 and all associated intellectual property.

The process undertaken with Aluvaris, Diteba and prospective partners demonstrated significant interest in APA-01 as a molecule for use in a diverse array of clinical disorders. PharmAla will continue to examine potential opportunities to develop APA-01 both in-house and by way of co-development. The Company thanks Aluvaris and Diteba for their work over the course of the engagement.