Emmaus Life Sciences Reports Quarterly Financial Results

TORRANCE, Calif., August 14, 2026--Emmaus Life Sciences, Inc. (OTCQB: EMMA), a commercial-stage biopharmaceutical company and leader in the treatment of sickle cell disease, today reported on its financial condition and results of operations as of and for the three and six months ended June 30, 2026.

Highlights

"Under our previously announced License and Exclusive Distribution Agreement with NeoImmuneTech, Inc., or NIT, which became effective date on May 15, 2026, we granted NIT an exclusive license to our rights to market, sell, and distribute Endari and any generic equivalents we may develop in sickle cell disease in the U.S. and its territories and possessions and Canada in exchange for an upfront cash payment and royalties on NIT's sales of the licensed products. We recognized a part of the upfront payment and royalties as revenue which resulted in a 124% increase in net revenues for three month ended June 30, 2026 as compared to the same period in 2025," commented Willis Lee, Chairman and Chief Executive Officer of Emmaus. "We were also able to further reduce our operating expenses," he added.

Financial and Operating Results

Net Revenues. Net revenues for the three months ended June 30, 2026 were $6.3 million, compared to $2.8 million in the same period in 2025 due primarily to the recognition of revenue from the NIT license arrangement, partially offset by a decrease in direct Endari® sales.

Operating Expenses. Total operating expenses for the three months were $2.1 million compared to $3.0 million in the comparable period in 2025. The decrease was due primarily to decreased expenses attributable to the transfer of our sales force to NIT in connection with the license arrangement.

Income (Loss) From Operations. Income from operations for the three months was $3.8 million compared to $0.4 million loss from operations in the same period in 2025. This was due to the increase in net revenues and lower operating expenses.

Other Expense. The company realized other expense of $2.5 million for the three months compared to $1.4 million in the same period in 2025. The increase was primarily due to decreases of gain on lease modification and change in fair value of investment in equity securities.

Net Income (Loss). For the three months, the company realized a net income of $1.3 million, or $0.02 basic earnings per share based on approximately 70.2 million weighted-average common shares, compared to net loss of $1.1 million, or ($0.02) basic earnings per share based on approximately 63.9 million weighted-average common shares in the comparable period in 2025. The increase in net income was attributable primarily to the increase in net revenues.