Sharp Therapeutics Corp. Reports First Half 2026 Results and Development Update

Rhea-AI Summary

Sharp Therapeutics (TSXV: SHRX, OTCQB: SHRXF) released unaudited interim financial statements for the six months ended June 30, 2026, highlighting continued R&D investment in its GBA1, Niemann Pick C and Progranulin programs. According to Sharp, H1 2026 spending was below H1 2025 levels due to fewer formal studies.

The company closed a non-brokered private placement on July 29, 2026, raising C$1,365,000 through 1,500,000 common shares at C$0.91 per share. Newlin Investment Company 1, LLC subscribed for US$200,000.45. Net proceeds will support general working capital, and Sharp aims to enter Phase I trials in 2027.

Positive

• Private placement proceeds of C$1,365,000 from 1,500,000 shares at C$0.91
• Insider-related entity Newlin Investment Company 1, LLC invested US$200,000.45 in the Offering

Negative

• None.

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Pittsburgh, Pennsylvania and Toronto, Ontario--(Newsfile Corp. - August 28, 2026) - Sharp Therapeutics Corp. (TSXV: SHRX) (OTCQB: SHRXF) ("Sharp" or the "Company"), announces the release of its unaudited condensed interim consolidated financial statements for the six-month period ended June 30, 2026, and related management discussion and analysis. All dollar figures are in United States dollars, unless otherwise stated.

Scott Sneddon, Sharp's Chief Executive Officer, stated: "Our H1 financial results show our continued investment in research and development programs, mainly our GBA1, Niemann Pick C and Progranulin programs. Spending during the period was lower than H1 2025 because our work on selecting superior GCase compounds requires fewer formal studies than we performed in the prior period. We expect spending to return to the prior levels in H1 2027 as we restart formal studies. Our investment will continue as we aim for our next milestone of entering Phase I clinical trials in 2027."

Recent Sharp Highlights

On July 29, 2026, the Company announced the closing of its previously announced non-brokered private placement (the "Offering") of common shares in the capital of the Company (the "Common Shares") for aggregate gross proceeds of C$1,365,000 through the issuance of 1,500,000 Common Shares at a price of C$0.91 per Common Share. The net proceeds of the Offering will be used for general working capital purposes.

Newlin Investment Company 1, LLC, an entity wholly owned by William R. Newlin, subscribed for US$200,000.45 as part of the Offering.

The Common Shares issued as part of the Offering are subject to a four (4) month plus one (1) day hold period from the date of issuance, and subject to TSX Venture Exchange approval. No bonus, finder's fee, commission or other compensation was paid in connection with the Offering.

More information on the Offering and the unaudited condensed interim consolidated financial statements can be obtained from the Company's SEDAR+ profile at www.sedarplus.ca.

About Sharp Therapeutics Corp.

First-Choice Therapies for Genetic Diseases

Sharp Therapeutics is a pre-clinical stage company developing first-choice small-molecule therapeutics for genetic diseases. The Company's small molecule discovery platform combines novel high throughput screening technologies, with compound libraries computational optimized based on the physics and biology of cellular trafficking defects and allosteric activation of proteins. The platform produces small molecule compounds that restore activity in mutated proteins giving the potential to treat genetic disorders with conventional pill-based medicines.

For additional information on Sharp, please visit: www.sharptx.com.

Sharp Therapeutics Corp.
Scott Sneddon, PhD, JD
CEO/CSO
Email: scott@sharptx.com

Caution Regarding Forward-Looking Information

Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Sharp's current views and intentions with respect to future events, and current information available to Sharp, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Sharp in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Sharp does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Sharp undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311983

FAQ

What did Sharp Therapeutics (SHRXF) report for its first half 2026 results?

Sharp reported unaudited interim financial statements for the six months ended June 30, 2026, emphasizing ongoing R&D investment. According to Sharp, spending focused on GBA1, Niemann Pick C and Progranulin programs, with overall H1 2026 expenses lower than H1 2025 due to fewer formal studies.

How much capital did Sharp Therapeutics (SHRXF) raise in its July 29, 2026 private placement?

Sharp raised gross proceeds of C$1,365,000 in a non-brokered private placement completed on July 29, 2026. According to Sharp, this came from issuing 1,500,000 common shares at C$0.91 per share, with net proceeds designated for general working capital purposes.

What are the terms of Sharp Therapeutics' July 2026 share Offering for SHRXF investors?

The Offering consisted of 1,500,000 common shares at C$0.91 each for total gross proceeds of C$1,365,000. According to Sharp, the shares carry a four-month plus one-day hold period and the transaction remains subject to TSX Venture Exchange approval.

How will Sharp Therapeutics (SHRXF) use the proceeds from its July 2026 financing?

Sharp plans to use the net proceeds from the C$1,365,000 Offering for general working capital needs. According to Sharp, no bonus, finder’s fee, commission or other compensation was paid, leaving more of the raised capital available to support ongoing operations and R&D activities.

What are Sharp Therapeutics' key R&D programs mentioned in the H1 2026 update for SHRXF?

Sharp’s key programs are focused on GBA1, Niemann Pick C and Progranulin genetic disease targets. According to Sharp, its small-molecule discovery platform aims to restore activity in mutated proteins, potentially enabling pill-based treatments for selected genetic disorders in the pre-clinical development stage.

When does Sharp Therapeutics (SHRXF) aim to start Phase I clinical trials?

Sharp is targeting entry into Phase I clinical trials in 2027 for its programs. According to Sharp, current spending reflects compound selection work requiring fewer formal studies, with expenditures expected to return to prior levels in H1 2027 as formal studies restart.