OSR Health, Inc. says Nasdaq's Hearings Panel denied the company's request for continued listing and determined to delist its common stock and warrants on October 23, 2026, for non-compliance with Nasdaq's $1.00 minimum bid price requirement. Trading was suspended effective August 26, 2026, and the securities continue to be quoted over the counter as OSRH and OSRHW. The decision does not affect OSR Health's SEC-reporting status. The company says it did not pursue a reverse stock split and is evaluating strategic and corporate alternatives to regain compliance, with a further update on its plan intended on or before November 6, 2026.
The $15 million VXM01 equity put option against BCM Europe AG remains in place under the Global Exclusive License Agreement. An amendment on October 15, 2026, also permits settlement through convertible notes with an equal $15 million principal amount and fixed conversion prices of approximately $2.00 to $5.00 per share. OSR Health intends to seek to continue its Shareholder Loyalty CVR Program for enrolled holders. Pipeline work includes Vaximm preparing publication of new analysis from its completed Phase 2a glioblastoma trial, Darnatein licensing discussions with a potential licensee, and interest from numerous parties worldwide in potential partnerships involving Woori IO's noninvasive glucose monitoring technology.
OSR Health, Inc. (OSRH) amended its VXM01 license agreement to let it elect, by written notice, to convert all or part of the unexercised equity option into notes with aggregate principal of up to $15,000,000, less amounts previously settled under that option. OSRH or an affiliate would issue the notes; BCM Europe AG (BCME) would purchase them at par or arrange a third-party purchase. The elected amount terminates under the equity option.
The notes would be issued in four $3,750,000 tranches, convertible into OSRH common stock at approximate fixed prices of $2.00, $3.00, $4.00 and $5.00 per share, respectively. If Nasdaq’s Minimum Price on the purchase-commitment date exceeds a tranche’s price, that tranche uses the Minimum Price; prices are not reset. BCME has identified a purchaser and must provide its binding commitment with or before notice. Closing is no fewer than 20 Business Days after notice. If it does not occur within 10 Business Days after the scheduled closing, the notice is deemed withdrawn, the equity option is reinstated in full as to the elected amount, and the Exercise Window is extended by the elapsed period. These rights apply whether the August 19, 2026 Nasdaq Staff delisting determination is stayed, extended, conditionally granted or followed by relisting.
OSR Health, Inc. reported that Chief Scientific Officer Dr. Constance Hoefer resigned on September 30, 2026, effective immediately.
OSR Health, Inc. (OSRH) reports an update on its Nasdaq listing status. Nasdaq staff previously determined to delist the company’s common stock and warrants from the Nasdaq Capital Market for non-compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). On August 25, 2026, OSR Health requested a hearing before a Nasdaq Hearings Panel to appeal the delisting determination and asked for continued listing of its securities. The company states that trading in its securities is still scheduled to be suspended at the opening of business on August 26, 2026, despite the hearing request. The hearing request is expected to stay the filing of a Form 25-NSE, delaying formal delisting and deregistration while the Panel reviews the case. OSR Health plans to present a compliance plan but cautions there is no assurance the Panel will grant continued listing or that it will regain compliance.
OSR Health, Inc. (symbol OSRH) disclosed that Nasdaq has issued a Staff Determination to delist its common stock and warrants from the Nasdaq Capital Market for failure to meet the $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). Nasdaq plans to suspend trading in OSRH common stock and warrants at the opening of business on August 26, 2026, and to file a Form 25-NSE to remove the securities from listing and registration.
The company intends to request a hearing before a Nasdaq Independent Hearings Panel under the Nasdaq Listing Rule 5800 Series. A timely hearing request is expected to stay the filing of the Form 25-NSE, but will not stay the trading suspension. OSR Health highlights recent trading activity, including approximately 370 million and 145 million shares traded on August 17 and 18, 2026, respectively, versus a public float of about 18.5 million shares, and notes its share price reached an intraday high of $0.84 on August 18, still short of the $1.00 compliance level.
OSR Health, Inc. received an amended Schedule 13G/A from joint protein central, inc., a Korean entity, reporting its ownership in the company’s common stock. The investor reports beneficial ownership of 1,200,000 shares of common stock, representing 3.4% of OSR Health’s outstanding common stock.
The filing states that joint protein central, inc. has sole voting power and sole dispositive power over all 1,200,000 shares, with no shared voting or dispositive power. The ownership is explicitly reported as 5 percent or less of the class, reflecting a non-controlling but still notable minority position.
OSR Health, Inc., a healthcare holding company focused on immunotherapies, biologics and medical devices, reported substantially lower losses but sharply reduced revenue for the quarter and six months ended June 30, 2026. Net sales were $315,669 for the quarter and $799,727 for the first half of 2026, down 72% and 58% from the prior-year periods, largely reflecting a shift at subsidiary RMC from a purchase-and-resale model to a consignment, commission-based arrangement and prior one-time inventory sales.
Gross profit nonetheless improved, with quarterly gross margin rising from about 3% to 27%. Operating loss was $3.0 million for the quarter and $6.7 million year-to-date, both narrower than 2025, aided by lower SG&A and the absence of 2025 business-combination costs. Net loss attributable to OSR Health was $3.8 million for the first half. Total assets were $166.6 million and total liabilities $41.7 million.
Liquidity remains tight: cash and cash equivalents were $1.5 million, with $3.4 million of net cash used in operations in the first half. The company is relying on an $80 million equity line of credit, under which it has raised $3.38 million to date, and a 5% convertible note with a fixed $1.00 conversion price and a potential discounted alternative price if Nasdaq non-compliance is not cured. In June 2026, OSR announced a shareholder loyalty CVR program that may deliver up to 5 additional shares per share if specified price thresholds are met over 12 months. Management confirms ongoing material weaknesses in internal control over financial reporting, particularly around liabilities and accounting staffing, and states that remediation efforts are in progress.
OSR Health, Inc. reported results of its August 7, 2026 annual stockholder meeting. As of the July 8, 2026 record date, there were 35,118,692 common shares outstanding. A total of 21,088,120 shares, or 60.05% of shares entitled to vote, were represented, constituting a quorum.
Stockholders re-elected seven directors to serve until the 2027 annual meeting, with each nominee receiving more than 15.17 million votes “for” and roughly 0.12–0.13 million votes “withheld.” Stockholders also approved ratification of the independent auditor with 20,296,535 votes “for,” the advisory executive compensation proposal with 15,059,135 votes “for,” and an Authorized Shares Increase Proposal with 19,922,498 votes “for” versus 581,009 “against.”
OSR Health, Inc. issued a clarification about earlier statements describing Nasdaq’s views on its Shareholder Loyalty Contingent Value Rights (CVR) program. The company explained that language in its July 31, 2026 release should not be read as implying Nasdaq has approved or endorsed the CVR program.
OSR Health stated that Nasdaq’s prior feedback was a preliminary, verbal response limited to a technical question about whether the CVR program would trigger a mechanical stock price adjustment, such as an ex-date adjustment, and that Nasdaq has expressed no definitive opinion on the program more broadly. The clarification confirms that the previously announced August 14, 2026 record date for the Shareholder Loyalty CVR program remains unchanged.
OSR Health, Inc. reported that Nasdaq, in a verbal communication, stated the company’s Shareholder Loyalty Contingent Value Rights (CVR) program will not cause any mechanical adjustment to the price of its common stock, either when CVRs are distributed or when additional shares are delivered to enrolled holders.
Under this loyalty CVR program, shareholders of record on August 14, 2026 who enroll receive one CVR for each share of OSRH common stock and may receive additional shares at no cost if specified closing-price thresholds are met on four measurement dates over the following twelve months. Nasdaq’s view applies only to price-adjustment mechanics and is not an endorsement; the CVR distribution and share deliveries remain subject to separate securities-law and regulatory processes.