• Strongest first half-year financial result in company history
• CEO Philippe Wolgen to continue leading the company through critical execution phase
• Focused on vitiligo program, PhotoCosmetic M-lines, and regulatory approvals

Clinuvel Pharmaceuticals has delivered the strongest first half-year financial result in its history, with profitability continuing despite planned increases in expenses. The company's cash reserves stand at A$233 million as of 31 December. The Board has undertaken a rigorous review of critical issues, including succession planning, strategic direction, and capital allocation. The Board has unanimously decided that Philippe Wolgen will continue as Chief Executive Officer, citing his proprietary command of the science, the need for stability, and his ability to lead through complex challenges. The Board is also strengthening the executive team and delegating operational responsibilities to allow Wolgen to focus on global strategy and governance. The company is concentrating resources on the advanced education of senior managers and recruiting additional managerial staff to its North American team. The vitiligo program is the priority, with the Board aware of the risks of failure but endorsing the systemic approach being taken to address and reduce those risks. The decision to postpone the PhotoCosmetic M-lines prelaunch by one year to 2027 frees up regulatory and marketing resources. The company is also advancing the filing of NEURACTHEL - its ACTH generic product - within the European Union and seeking Health Canada approval for SCENESSE in erythropoietic protoporphyria. Research on new long-acting formulations is being accelerated, and the expansion of the company's Singapore facilities continues to receive priority. Clinuvel is also committed to upgrading its American Depositary Receipt (ADR) program from Level I to Level II, which may enable a Nasdaq listing in the first half of 2026.

Clinuvel reports strong profitability and a cash reserve of A$233 million as of 31 December 2025. The company is focused on executing its vitiligo program, advancing regulatory approvals, and developing new formulations.

Clinuvel is confident in its strategic plan, despite the risks, and believes it will lead to the creation of market value as it has in the past. The company is also exploring potential additional activities that may constitute welcome surprises for shareholders in 2026.