Key highlights of the 1Q FY2027 results:

• Revenue Growth Driven by Wafermine: Group revenue increased approximately 69.4% year-on-year to S$2.71 million, with US revenue contributing S$1.81 million, or 67% of total revenue. Development services for the Wafermine programme accounted for S$1.77 million, reflecting continued programme execution.

• Advancement of Wafermine Programme: The Group continued development activities for Wafermine, its sublingual ketamine wafer being developed for the treatment of acute moderate-to-severe pain.

• Strategic Expansion into the US: iX Biopharma is progressing with the relocation of its freeze-drying equipment from Australia to Nevada, establishing a US manufacturing presence to support its previously announced pivot towards the world's largest healthcare market. The equipment has arrived in Nevada and is undergoing installation and commissioning.

• Strategic Transformation Expenses: The Group recorded a net loss of S$3.33 million, compared with S$0.57 million in 1Q FY2026. This included S$1.69 million in strategic transformation expenses and non-cash share-based compensation, alongside the impact of foreign exchange movements.

• Strengthened Financial Position: Borrowings and lease liabilities declined to S$3.44 million as at 30 September 2026, from S$5.80 million as at 30 June 2026, following the repayment of S$2.29 million in borrowings. The Group also received S$1.51 million from warrant exercises during the quarter.

• Further Debt Reduction: Subsequent to the quarter-end, the Group settled an additional S$1.70 million loan through the issuance of shares in October 2026, further supporting its balance sheet restructuring efforts.

While the Group's quarterly results reflect costs associated with its ongoing strategic transformation, iX Biopharma remains focused on advancing its Wafermine programme, establishing its US manufacturing capabilities and strengthening its operational and financial foundations.

With its proprietary WaferiX and WaferlogiX drug delivery platforms, the Group continues to pursue opportunities in pharmaceutical development and commercialisation.

See link for full announcement: https://links.sgx.com/FileOpen/iX%20Biopharma%2027Q1%20Results%20-%20Press%20Release.ashx?App=Announcement&FileID=911082