Balomenib Phase 1b shows durable HbA1c improvement; Merger closing extended to Oct 31

BEACON TOPCO, INC.

• Merger closing date for Clywedog acquisition amended to Oct 31, 2026 (or earlier mutual agreement); End Date also Oct 31, 2026.
• Phase 1b: placebo-adjusted HbA1c -0.77% at Week 12 (p<0.01) and -0.70% at Week 16 (p<0.05) after 3-week dosing.
• OGTT: placebo-adjusted reductions in total glucose AUC 203 mmol·min/L (p=0.019), peak glucose 2.03 mmol/L (p=0.013), 2-hr glucose 2.46 mmol/L (p=0.010).
• FPG reduced by 1.29 mmol/L (23 mg/dL) at Week 12 (p<0.05); no drug-related serious/severe AEs or discontinuations.
• Phase 2a with 12-week treatment course expected to initiate in Q4 2026.