Docetaxel

Plinabulin (BeyondSpring's Lead Program): Phase 3 Survival Benefit Confirmed: Plinabulin combined with docetaxel demonstrated statistically significant overall survival benefit vs. standard of care docetaxel in EGFR wild-type NSCLC patients whose tumors progressed after first line therapy — DUBLIN-3 study results published in The Lancet Respiratory Medicine Confirmatory Trial Planned: Based on DUBLIN-3 Phase 3 data and US FDA discussions, BeyondSpring is advancing DUBLIN-4, a confirmatory global Phase 3 study in a biomarker-selected EGFR wild-type NSCLC patient population progressed on immune checkpoint inhibitors (NCT07361484) Overcoming Immunotherapy Resistance: Early clinical data at MD Anderson Cancer Center and Peking Union Hospital suggest Plinabulin may restore sensitivity to checkpoint inhibitors — a significant unmet need affecting most patients on PD-1/PD-L1 therapies – Results published in Cell Press journal Med 2025 and presented at SITC 2025 SEED Therapeutics (Reported as Discontinued Operations): First Patient Dosed for lead oncology program: ST-01156, a novel oral RBM39 degrader, initiated Phase 1a clinical trials in January 2026 following IND clearance in both the U.S. and China Financing Strengthened: Completed $30 million Series A-3 financing; appointed Dr. Bill Desmarais as Chief Financial Officer and Chief Business Officer FLORHAM PARK, N.J., March 25, 2026 (GLOBE NEWSWIRE) -- BeyondSpring Inc. (NASDAQ: BYSI) (“BeyondSpring” or the “Company”), a clinical-stage company developing transformative therapies for the treatment of cancer and other diseases, today announced its financial results for the year ended December 31, 2025, and highlighted late-stage clinical progress for Plinabulin and strategic developments related to its equity interest in SEED Therapeutics (“SEED”). 2025: Clinical and Operational Progress “2025 was a year of important clinical and operational progress for BeyondSpring and SEED Therapeutics,” said Dr. Lan Huang, Co-Founder, Chairman and Chief Executive Officer of BeyondSpring. “We advanced our Phase 3 Plinabulin program, generated meaningful clinical data, and strengthened our strategic and financial position.” “BeyondSpring made meaningful progress advancing Plinabulin in Phase 3 NSCLC, while SEED Therapeutics reached a critical milestone — initiating its first clinical trial following IND clearance in both the U.S. and China — and strengthened its leadership team and capital resources.” Positioned for 2026 and Beyond “With a solid scientific and clinical foundation and clear regulatory pathways, we believe BeyondSpring and SEED are well positioned for the next stage of development,” Dr. Huang concluded. “As we enter 2026, we remain focused on advancing the DUBLIN-4 confirmatory trial for Plinabulin in non-squamous EGFR wild-type NSCLC post immune checkpoint inhibitors, supporting SEED’s Phase 1a clinical program for ST-01156 in solid tumors, and creating long-term value for our shareholders.” Recent Clinical and Business Updates Plinabulin Demonstrates Overall Survival Benefit in Phase 3 NSCLC Study; Confirmatory Trial Planned There is a significant unmet need in EGFR wild-type NSCLC following immune checkpoint inhibitor (ICI) therapy, where numerous Phase 3 studies have failed to improve overall survival over standard of care docetaxel. BeyondSpring reported positive Phase 3 results from the DUBLIN-3 study evaluating plinabulin in combination with docetaxel in second- and third-line (2/3L) EGFR wild-type non-small cell lung cancer (NSCLC). The study demonstrated a statistically significant and clinically meaningful overall survival (OS) benefit compared to docetaxel alone (ITT, n=559), with results published in The Lancet Respiratory Medicine . At IASLC North America and ESMO Asia in December 2025, BeyondSpring presented updated data from the mechanism-targeted non-squamous NSCLC population (n=332; 24-month after database lock), in which the combination achieved: OS hazard ratio (HR) of 0.72 (p=0.0078) Median OS improvement of 2.5 months vs. docetaxel Doubling of 2-year and 3-year survival rates Favorable safety profile, reducing grade 4 neutropenia from >30% to 5% (p<0.0001) To date, over 700 patients have been treated with plinabulin across clinical studies, supporting the characterization of its safety and tolerability profile. Based on these findings and discussions with the U.S. FDA, BeyondSpring plans to initiate the global Phase 3 DUBLIN-4 confirmatory study, focusing on a mechanism-enriched patient population of EGFR wild-type non-squamous NSCLC progressed on prior PD-1/L1 inhibitors with overall survival as the primary endpoint (NCT07361484). Plinabulin Shows Potential to Overcome PD-1/PD-L1 Resistance Emerging clinical data suggests plinabulin may help address acquired resistance to PD-1/PD-L1 therapies — a major challenge affecting approximately 60% of patients, with limited therapies for these progressed patients. With PD-1/PD-L1 therapies representing a multi-billion-dollar market, addressing resistance remains one of the most significant opportunities in oncology. Presentations at ASCO 2025 and SITC 2025 on multiple early-stage and investigator-initiated studies of Plinabulin combinations: Plinabulin + pembrolizumab + docetaxel (303 study, NCT05599789): A Phase 2 study conducted at Peking Union Hospital in China in metastatic NSCLC patients progressing on PD-1/PD-L1 inhibitors (n=47) demonstrated: Median progression-free survival (PFS) of 7.0 months Disease control rate (DCR) of 85% and overall response rate (ORR) of 18.2% Median OS not reached with 24-month overall survival rate of 66% Whole blood analysis indicated higher proportions of activated CD4+/CD8+ T-cells post treatment Plinabulin + PD-1 inhibitor + radiation (NCT04902040): A Phase 1 study conducted at MD Anderson Cancer Center across eight tumor types resistant to checkpoint inhibitors showed: DCR of 54% and ORR of 23% Mechanistic evidence of dendritic cell maturation and immune activation Identification of a potential predictive biomarker (GEF-H1 immune signature) These findings, published in Med 2025 (Cell Press), support plinabulin’s proposed immune-priming mechanism and its potential role in combination strategies to restore tumor sensitivity to immunotherapy BeyondSpring Business Update In January 2025, BeyondSpring entered into definitive agreements to sell a portion of its Series A-1 Preferred Shares of SEED for gross proceeds of approximately $35.4 million to advance late-stage clinical development of Plinabulin. First closing of approximately $7.35 million was completed in February 2025. SEED Therapeutics (Reported as Discontinued Operations) Advances First Clinical Program and Strengthens Organization SEED Therapeutics continued to make progress in 2025 and early 2026, advancing its targeted protein degradation platform and pipeline. Key highlights include: ST-01156 , a novel oral RBM39 degrader: Received U.S. FDA Orphan Drug and Rare Pediatric Disease Designations Achieved IND clearance in both the U.S. and China Dosed first patient in a Phase 1a study in January 2026 ST-01156 Phase 1a enrolling at leading U.S. cancer centers: Dana-Farber, Massachusetts General Hospital, Memorial Sloan Kettering, MD Anderson Cancer Center, Hoag, and City of Hope Presentation at AACR 2025 on ST-01156 mechanism and preclinical studies including complete tumor regression in Ewing sarcoma and other cancer models; new degrader approaches in KRAS G12D degradation SEED Business Update Completed a $30 million Series A-3 financing Appointed Dr. Bill Desmarais as Chief Financial Officer and Chief Business Officer Named a finalist for the 2025 Prix Galien USA “Best Start-Up” Award Full-Year 2025 Financial Results¹ Continuing operations: R&D expenses: $4.4 million (vs. $2.6 million in 2024), driven by increased drug manufacturing, NSCLC data management, Plinabulin combination research, regulatory consulting, and personnel costs G&A expenses: $4.6 million (vs. $6.1 million in 2024), driven by lower personnel costs, reduced consulting expenses, and lower corporate overhead Net loss: $8.7 million (vs. $8.9 million in 2024) Cash, cash equivalents, and short-term investments: $12.6 million as of December 31, 2025 Discontinued operations: Net loss: $5.5 million (vs. $7.8 million in 2024) Current assets: $8.0 million as of December 31, 2025 Note 1. As a result of BeyondSpring entering into definitive agreements to sell a portion of its Series A-1 Preferred Shares of SEED, SEED’s operations met the criteria as discontinued operations under ASC 205-20 for financial reporting purposes. About BeyondSpring BeyondSpring (NASDAQ: BYSI) is a clinical-stage biopharmaceutical company developing first-in-class therapies addressing high unmet medical needs. Its lead asset, Plinabulin, is in late-stage clinical development as an anti-cancer agent in NSCLC and other indications. Plinabulin’s novel mechanism as a dendritic cell maturation agent supports both anti-cancer activity and immune modulation, offering a unique approach to restoring tumor sensitivity to checkpoint inhibitors. Learn more at About SEED Therapeutics SEED Therapeutics is a clinical-stage biotechnology company pioneering rationally designed molecular glue degraders to treat diseases driven by undruggable proteins. Its proprietary RITE3™ platform enables targeted protein degradation with small-molecule precision. SEED’s lead candidate, ST-01156, is a brain-penetrant RBM39 degrader entering clinical development for Ewing sarcoma and other RBM39-dependent cancers. Eli Lilly and Eisai are investors and research collaborators with SEED Therapeutics. The company’s pipeline includes six programs across oncology, neurodegeneration, immunology, and virology. Learn more at seedtherapeutics.com. Cautionary Note Regarding Forward-Looking Statements This press release includes forward-looking statements that are not historical facts. Words such as “will,” “expect,” “anticipate,” “plan,” “believe,” “design,” “may,” “future,” “estimate,” “predict,” “objective,” “goal,” or variations thereof and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are based on BeyondSpring’s current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties, and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, difficulties raising the anticipated amount needed to finance the Company’s future operations on terms acceptable to the Company, if at all, unexpected results of clinical trials, delays or denial in regulatory approval process, results that do not meet the Company’s expectations regarding the potential safety, the ultimate efficacy or clinical utility of the Company’s product candidates, increased competition in the market, the ability to complete the sale of BeyondSpring’s equity interest in SEED Therapeutics on terms acceptable to BeyondSpring, if at all, the Company’s ability to meet Nasdaq’s continued listing requirements, and other risks described in BeyondSpring’s most recent Form 10-K on the U.S. Securities and Exchange Commission. All forward-looking statements made herein speak only as of the date of this release and BeyondSpring undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law. Investor Contact: IR@beyondspringpharma.com Media Contact: PR@beyondspringpharma.com Financial Tables to Follow BEYONDSPRING INC. CONSOLIDATED BALANCE SHEETS (Amounts in thousands of U.S. Dollars ( “ $ ” ), except for number of shares and per share data) As of December 31, 2024 2025 $ $ Assets Current assets: Cash and cash equivalents 2,922 7,786 Short-term investments - 4,775 Advances to suppliers 240 227 Prepaid expenses and other current assets 68 71 Current assets of discontinued operations 25,347 8,023 Total current assets 28,577 20,882 Noncurrent assets: Property and equipment, net 239 166 Operating right-of-use assets 513 305 Other noncurrent assets 213 224 Noncurrent assets of discontinued operations 4,773 4,356 Total noncurrent assets 5,738 5,051 Total assets 34,315 25,933 Liabilities and equity Current liabilities: Accounts payable 295 363 Accrued expenses 840 938 Current portion of operating lease liabilities 282 320 Other current liabilities 780 822 Current liabilities of discontinued operations 8,813 11,133 Total current liabilities 11,010 13,576 Noncurrent liabilities: Operating lease liabilities 307 - Deferred revenue 27,400 28,600 Other noncurrent liabilities 3,686 3,981 Noncurrent liabilities of discontinued operations 6,197 3,766 Total noncurrent liabilities 37,590 36,347 Total liabilities 48,600 49,923 Shareholders’ deficit Ordinary shares ($0.0001 par value; 500,000,000 shares authorized; 40,316,320 and 41,122,320 shares issued and outstanding as of December 31, 2024 and 2025, respectively) 4 4 Additional paid-in capital 373,185 375,664 Accumulated deficit (407,425 ) (408,431 ) Accumulated other comprehensive income 1,336 602 Total BeyondSpring Inc.’s shareholders’ deficit (32,900 ) (32,161 ) Noncontrolling interests 18,615 8,171 Total shareholders’ deficit (14,285 ) (23,990 ) Total liabilities and shareholders’ deficit 34,315 25,933 BEYONDSPRING INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Amounts in thousands of U.S. Dollars ( “ $ ” ), except for number of shares and per share data ) Year ended December 31, 2024 2025 $ $ Revenue - - Operating expenses Research and development (2,644 ) (4,388 ) General and administrative (6,110 ) (4,557 ) Loss from operations (8,754 ) (8,945 ) Foreign exchange gain (loss), net (96 ) 165 Interest income 59 78 Other income, net 22 77 Loss before income tax (8,769 ) (8,625 ) Income tax expenses (96 ) (90 ) Net loss from continuing operations (8,865 ) (8,715 ) Discontinued operations Loss from discontinued operations (7,828 ) (12,488 ) Gain on disposal of discontinued operations - 6,986 Income tax expenses - - Net loss from discontinued operations (7,828 ) (5,502 ) Net loss (16,693 ) (14,217 ) Less: Net loss attributable to noncontrolling interests from continuing operations (388 ) (242 ) Less: Net loss attributable to noncontrolling interests from discontinued operations (5,182 ) (12,969 ) Net loss attributable to BeyondSpring Inc. (11,123 ) (1,006 ) Net earnings (loss) per share, basic and diluted Continuing operations (0.21 ) (0.21 ) Discontinued operations (0.07 ) 0.19 Basic and diluted loss per share (0.28 ) (0.02 ) Weighted-average shares outstanding Basic and diluted 39,733,191 40,406,347 Other comprehensive loss, net of tax of nil: Foreign currency translation adjustment gain (loss) from continuing operations 710 (1,147 ) Foreign currency translation adjustment gain (loss) from discontinued operations 17 (107 ) Comprehensive loss (15,966 ) (15,471 ) Less: Comprehensive loss attributable to noncontrolling interests from continuing operations (131 ) (655 ) Less: Comprehensive loss attributable to noncontrolling interests from discontinued operations (5,154 ) (13,076 ) Comprehensive loss attributable to BeyondSpring Inc. (10,681 ) (1,740 )

HONG KONG, March 24, 2026 /PRNewswire/ -- Duality Biotherapeutics, Inc. (Hong Kong Stock Exchange Code: 09606.HK, hereinafter referred to as "DualityBio" or the "Company"), a leading global clinical-stage innovative biopharmaceutical company, today announced its first annual results since listing on April 15, 2025 (for the year ended December 31, 2025), providing a comprehensive update on its global clinical pipeline and corporate operations. Dr. John Zhu, Founder, founder and Chief Executive Officer of DualityBio, stated: "Over the past decade, the innovative pharmaceutical industry has evolved from partial exploration to systematic development. Today, we stand at a brand-new starting point – an era that is more open, more uncertain yet more imaginative. Technological advancement is reshaping industry boundaries, global clinical and regulatory systems are gradually integrating, and innovation is no longer confined to a single region but occurs collaboratively worldwide, marking the 'Great Voyage Era of Innovative Drugs'. In 2025, DualityBio anchored on innovation and forged ahead steadily in the ADC track. Leveraging the profound accumulation of our four core technology platforms, we drove the full-speed advancement of core assets: the enrollment of over 3,200 patients globally has verified our R&D strength and original aspiration for global layout; in-depth collaborations with partners such as BioNTech and Avenzo have continuously amplified innovation value, injecting strong momentum for long-term development. In 2026, we will build on this momentum to accelerate the commercialization of core products, deepen pipeline iteration and technological breakthroughs, and steadily advance the A-share listing plan, responding to every expectation with a clearer growth path and more solid performance. The road to innovation is long and challenging. DualityBio will always be guided by unmet clinical needs, keep forging ahead in the journey of overcoming intractable diseases, and embark on a journey of value growth with all partners." Financial Highlights During the reporting period, the Company achieved total revenue of RMB1.852 billion , providing a solid financial foundation for the continuous advancement of business. R&D investment remained at a high level, with annual R&D expenses reaching RMB838 million; the adjusted loss for the year was RMB389 million (calculated by deducting the fair value change of preferred shares issued prior to the Global Offering from the loss for the year. Such fair value changes arose from the preferred shares issued in connection with previous equity financings prior to the Global Offering on April 15, 2025. From this date onward, these preferred shares ceased to exist, and there will be no further profit or loss impact of this nature in subsequent financial periods). The Company maintained a healthy cash flow position, with cash and bank balances of RMB3.325 billion as of the end of the period (comprising cash and cash equivalents, restricted cash and term deposits with initial term over three months), and achieved a net cash inflow from operating activities of RMB195 million, which has been positive for three consecutive years, providing sufficient capital support for the Company's long-term growth, subsequent pipeline advancement, clinical research and commercialization layout. Milestone of First-Wave Assets: Pivotal Clinical and Regulatory Progress In 2025, DualityBio drove the accelerated global clinical progress of its ADC pipeline relying on four core technology platforms. The Company currently has 10 clinical stages self-developed ADC candidates. Global clinical trials have enrolled over 3,200 patients cumulatively, with more than 1,200 new patients enrolled in 2025 alone, of which approximately 50% are located in the U.S., EU, Australia and other regions outside China, covering 17 countries and over 300 clinical centers, fully verifying the Company's global clinical development capabilities. The clinical development of Trastuzumab pamirtecan (DB-1303/BNT323 or "T- Pam") achieved a milestone breakthrough in 2025. In September 2025, the Independent Data Monitoring Committee ("IDMC") reviewed the interim data of a Phase 3 registrational trial (DYNASTY-Breast01; NCT06265428) and confirmed that the trial had achieved the primary endpoint of Progression-Free Survival ("PFS"), as evaluated by Blinded Independent Central Review ("BICR"), relative to the control arm. This trial is conducted in China to evaluate the efficacy of DB-1303/BNT323 versus T-DM1 in patients with HER2+ unresectable and/or metastatic Breast Cancer ("BC") previously treated with trastuzumab and taxane. Another Phase 3 trial of the product in China (NCT06265428) targets patients with HER2+ unresectable/metastatic breast cancer previously treated with trastuzumab and taxane, and the Biologics License Application ("BLA") has been submitted to the Center for Drug Evaluation ("CDE") of the National Medical Products Administration ("NMPA"), which is currently in the formal acceptance and review stage. A potential registrational cohort in a global Phase 1/2 trial for HER2-expressing advanced/recurrent Endometrial Cancer ("EC") has completed enrollment, and partner BioNTech plans to submit a BLA to the U.S. Food and Drug Administration ("FDA") in 2026. In addition, the global Phase 3 trial of the product (DYNASTY-Breast02; NCT06018337) completed enrollment in February 2026, targeting advanced or metastatic HR+, HER2-low breast cancer, with interim data expected to be available in 2026. As the Company's core ADC product targeting the B7-H3 antigen, DB-1311/BNT324 has continuously released positive clinical data in multiple solid tumor indications. In June 2025, the Company presented data from 73 heavily pretreated patients with metastatic Castration-Resistant Prostate Cancer ("mCRPC") at the American Society of Clinical Oncology ("ASCO") Annual Meeting; the 6-month Radiographic Progression-Free Survival ("rPFS") rate was 67.7% (as of March 4, 2025). In February 2026, at the ASCO Genitourinary ("GU") Cancers Symposium, the Company further presented updated data from 146 heavily pretreated mCRPC patients, with a median rPFS of 11.3 months and a median Overall Survival ("mOS") of 22.5 months; in patients with no prior exposure to Lutetium-177 ("Lu-177"), the median rPFS reached 13.6 months; in patients who had previously received Lu-177 (with a median of 5 prior lines of therapy), the median rPFS remained 11.3 months, and the median OS was not yet reached. Safety findings were consistent with prior reports; nausea and hematologic events were the most common adverse events and were mainly Grade 1-2; in the 6 mg/kg dose group (n=110), the incidence of Grade ≥3 Treatment-Related Adverse Events ("TRAE") was 20.0%, the discontinuation rate due to TRAE was 5.5%, and no treatment-related deaths were reported. Meanwhile, the product also demonstrated considerable potential in gynecological tumors. Data presented at the European Society for Medical Oncology ("ESMO") Asia Congress in December 2025 showed that in previously treated cervical cancer patients (n=30), DB-1311/BNT324 achieved an Unconfirmed Objective Response Rate ("uORR") of 43.3%, a Confirmed Objective Response Rate ("cORR") of 33.3%, a Disease Control Rate ("DCR") of 86.7%, and a median Progression-Free Survival ("mPFS") of 7.0 months; in Platinum-Resistant Ovarian Cancer ("PROC") patients (n=12), the cORR was 58.3%, DCR was 75.0%, and mPFS was 8.2 months. The above data fully confirm the broad application potential of the product in various solid tumors. Based on the excellent preliminary data, the first global Phase 3 trial (NCT07365995) evaluating DB-1311/BNT324 compared to docetaxel in taxane-naïve mCRPC patients is planned to start in 2026, with primary endpoints of PFS and OS. As an innovative ADC developed by the Company targeting the HER3 antigen, DB-1310 has achieved important clinical breakthroughs in both Non-Small Cell Lung Cancer ("NSCLC") and breast cancer("BC " ), and obtained two Fast Track Designations from the U.S. FDA. In June 2025, the Company presented clinical data from patients with Epidermal Growth Factor Receptor mutation ("EGFRm") NSCLC at the ASCO Annual Meeting. As of April 11, 2025, across the 1.5 mg/kg to 6.5 mg/kg dose range in 172 subjects, DB-1310 demonstrated a manageable safety profile, with Grade ≥3 TRAE occurring in 36% of patients and a low treatment-related discontinuation rate of 3.5%; among 46 efficacy-evaluable patients, the uORR was 43.5%, cORR was 28.3%, DCR was 91.3%, mPFS was 7.03 months, and mOS was 18.89 months; in the 5 mg/kg dose group (n=16), the cORR was 37.5%, DCR was 87.5%, mPFS was 8.28 months, and mOS was not reached. In December 2025, at the San Antonio Breast Cancer Symposium ("SABCS"), the Company presented data from pretreated HR+/HER2- breast cancer patients. In patients receiving DB-1310 at doses of 5.0-5.5 mg/kg (n=18), DB-1310 achieved a uORR of 55.6%, a cORR of 50.0%, and a confirmed DCR of 94.4%, with a manageable safety profile primarily involving Grade 1-2 hematologic and gastrointestinal events, a TRAE-related discontinuation rate of 4.5%, and no new safety signals. At the regulatory level, the R&D process of DB-1310 has been accelerated: in July 2025, it received Fast Track Designation from the FDA for the treatment of adult patients with advanced, unresectable or metastatic non-squamous NSCLC with an EGFR exon 19 deletion or L858R mutation who have progressed on or after treatment with a third-generation EGFR Tyrosine Kinase Inhibitor ("TKI") and platinum-based chemotherapy; in December 2025, it received an additional Fast Track Designation from the FDA for the treatment of adult patients with advanced/unresectable or metastatic HR-positive/HER2-negative (IHC 0, IHC 1+ or IHC 2+/ISH-) breast cancer who have received prior endocrine-based therapy, CDK4/6 inhibitor, with or without chemotherapy for unresectable or metastatic disease, or developed disease recurrence during or within 6 months of completing adjuvant chemotherapy. Deepen Global Cooperation and Unleash Strategic Synergies DualityBio continues to advance the "Duality Flywheel Model", deepen global cooperation, and maximize the value of self-developed assets. The Company has established a robust global cooperation network, entering into multiple out-licensing and collaboration agreements with leading industry players worldwide, including core partners such as BioNTech, BeOne, Adcendo, GlaxoSmithKline ("GSK") and Avenzo, with a total transaction value exceeding US$6 billion, fully demonstrating the industry's high recognition of the Company's independent R&D technology platforms. Exploration of IO2.0+ADC Combination Therapies Next-generation IO+ADC combination therapy is a core development trend in the global biopharmaceutical industry. The "bispecific antibody + ADC" combination can not only improve the efficacy of indications already covered by bispecific antibody combined with chemotherapy but also expand the scope of indications that cannot be covered by existing therapies, making it an important development direction in the field of tumor treatment. The Company is collaborating with BioNTech to explore the combination potential of DB-1303/BNT323, DB-1311/BNT324 and DB-1305/BNT325 with pumitamig (PD-L1xVEGF bispecific antibody) to expand their frontline application in various solid tumors. DB-1303/BNT323 in Combination with Pumitamig: In May 2025, the first patient was dosed in a global Phase 1/2 clinical trial evaluating the combination therapy in patients with HR+ or HR-, HER2-low, ultralow, or null advanced metastatic breast cancer or Triple-Negative Breast Cancer ("TNBC"), with trial data expected to be available in 2026. DB-1311/BNT324 in Combination with Pumitamig: In May 2025, the first patient was dosed in a global Phase 1/2 clinical trial evaluating the combination therapy in patients with advanced lung cancers; in July 2025, the first patient was dosed in a global Phase 2 clinical trial evaluating DB-1311/BNT324 in combination with pumitamig or with DB-1305/BNT325 in patients with advanced solid tumors, with data from both trials expected to be available in 2026. For DB-1311, DualityBio holds an exclusive option to share the development and commercialization costs and profits and losses from the exploitation of the first DB-1311 product in the United States, in accordance with the terms set out in the agreement. As of the date of this announcement, the Company has not exercised this cost & profit/loss sharing option and retains the right to do so in the future. DB-1305/BNT325 in Combination with Pumitamig Clinical Readout: In April 2025, the first clinical data evaluating the combination of pumitamig and DB-1305/BNT325 were presented at the 2025 American Association for Cancer Research ("AACR") Annual Meeting. Interim data from 67 patients showed that the combination therapy had a manageable safety profile with a low incidence of overlapping toxicities and early signs of anti-tumor activity in patients with PROC, NSCLC or TNBC; among evaluable PROC patients (n=13), seven achieved partial response and three had stable disease. In addition, DualityBio has established cooperative partnerships with companies such as BeOne, Adcendo, GSK and Avenzo, leveraging complementary advantages in R&D and global commercialization to jointly drive value growth. Next-Generation Innovation Progress: Continuously Expand Moat with Diversified Platforms and Product Pipelines In addition to first-wave core assets, the Company has advanced the rapid development of a series of high-potential ADCs and Bispecific ADCs ("BsADCs"): DB-2304 (BDCA2 ADC): A potential First-in-class ADC for the treatment of Systemic Lupus Erythematosus ("SLE") and Cutaneous Lupus Erythematosus ("CLE"), with the first patient dosed in the Phase 2a study. Data from a Phase 1 randomized controlled study (Clinical Trial Code: NCT06625671, Phase 1/2a study) was presented orally at the 53rd Autumn Immunology Conference ("AIC 2025"). The results showed that DB-2304 was generally safe and well-tolerated in healthy subjects, with linear Pharmacokinetics ("PK") characteristics, and could effectively bind to the target, verifying its pharmacologic mechanism. DB-1418/AVZO-1418 (EGFR×HER3 BsADC): Partner Avenzo has announced the first patient dosed in the Phase 1 portion of a global Phase 1/2 trial in patients with advanced solid tumors. In November 2025, Avenzo announced that DB-1418/AVZO-1418 received Fast Track Designation from the FDA for the treatment of patients with unresectable, locally advanced, or metastatic NSCLC with an EGFR exon 19 deletion or exon 21 L858R mutation whose disease has progressed on or after therapy with an EGFR TKI. DB-1419 (B7-H3×PD-L1 BsADC): Currently the only B7-H3×PD-L1 BsADC under clinical development globally, a global Phase 1/2a trial is being conducted in patients with advanced/metastatic solid tumors and is currently enrolling patients. DB-1317 (ADAM9 ADC): A next-generation ADC targeting ADAM9, a highly expressed antigen in gastrointestinal cancers, a global Phase 1a/1b trial is being conducted in patients with selected advanced/metastatic solid tumors and is currently enrolling patients. DB-1324 (CDH17 ADC): Licensed to GSK for development outside Greater China, received IND clearance from the FDA in December 2025, and a global Phase 1/2 clinical trial is being conducted in patients with advanced/metastatic gastrointestinal tumors and is currently enrolling patients. 2026: Build on Momentum and Forge Ahead To fully prepare for commercialization in the Chinese market, DualityBio has established a core commercial team, with senior leaders appointed in key functional areas including strategic planning, market access and commercial partner management. In January 2025, DualityBio entered into a collaboration agreement with 3SBIO Inc. (HKEX: 1530, "3SBIO"), leveraging its professional Contract Sales Organization ("CSO") capabilities to accelerate launch preparations for Trastuzumab pamirtecan, ensuring rapid and targeted access to key markets and customer segments. In the Territory (Mainland China, Hong Kong and Macau), 3SBIO will also provide related commercialization services – including market access, medical affairs, and channel management – to support the product's commercial activities. The Company has submitted a BLA to the CDE for Trastuzumab pamirtecan (DB-1303) for the treatment of breast cancer. Globally, partner BioNTech is also actively advancing the process of submitting a BLA to the U.S. FDA for HER2-expressing endometrial cancer. In addition to clinical execution, in line with the Company's global development and domestic commercialization layout, on October 17, 2025, the Board of Directors of the Company resolved to propose the issuance of RMB-denominated ordinary shares to be listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange. Looking ahead, DualityBio will always implement the strategic original aspiration of "Global Team, Global Clinical Trials, Global Market", aiming to evolve into a global leading pharmaceutical enterprise and provide therapeutic options for patients worldwide. About DualityBio DualityBio (HKEX:09606) is a clinical-stage biotechnology company dedicated to the discovery and development of next-generation antibody-drug conjugates to treat cancer and autoimmune diseases.DualityBio has built several advanced ADC technology platforms with global intellectual property protection. Leveraging a robust pipeline, the company is conducting multiple global clinical trials across 17 countries and has enrolled more than 3,200 patients across its clinical-stage ADC candidates. The company has established strategic collaborations with global pharmaceutical companies and biotechnology innovators to accelerate the development and commercialisation of its therapies. 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