Nasdaq panel denies OSR Health appeal, orders delisting; stock now quoted OTC as OSRH

OSR Holdings, Inc.

• Panel decision dated Oct. 23, 2026 follows the Aug. 26, 2026 suspension of OSRH and OSRHW for failing Nasdaq's $1.00 minimum bid price rule.
• Company says it chose not to pursue a reverse stock split and will detail its plan to regain a national exchange listing on or before Nov. 6, 2026.
• $15 million equity put option with BCM Europe AG under the VXM01 license remains in place; as amended Oct. 15, 2026 it can settle via convertible notes at roughly $2.00-$5.00 per share.
• Shareholder Loyalty CVR Program to continue, with the CVR Agreement to be amended so price thresholds are measured on whatever market the stock then trades on.
• Pipeline: Vaximm preparing publication of Phase 2a glioblastoma data for VXM01; Darnatein in licensing talks; Woori IO glucose monitoring draws global partnership interest.