Arizona Tribune - OSR Health: Preparing Our Appeal, Advancing Our Catalysts, Continuing Our Mission 

BELLEVUE, WA / ACCESS Newswire / August 21, 2026 / OSR Health, Inc. (NASDAQ:OSRH) today released the following letter from its Chief Executive Officer to shareholders.

To OSR Health Shareholders:

I am aware that many of you are watching closely to see what comes next. I want to address some of your concerns directly and with specificity.

OSR Health's stock is showing resilience this morning after a difficult session yesterday. In our opinion, that resilience reflects something real: the conviction of shareholders who understand this Company and its potential.

WHAT IS HAPPENING AND WHAT WE ARE DOING

We received the Nasdaq Staff Delisting Determination on August 19, which we disclosed immediately, as required. We are now preparing our formal request for a hearing before the Nasdaq Independent Hearings Panel, which we plan to submit no later than August 26.

I want to be clear about what this hearing represents. It is a formal appeal before an independent Panel, in which we will present the case for OSR Health's continued listing based on documented evidence and a near-term compliance plan. We are approaching this hearing with the same diligence and preparation with which we have addressed our challenges over the past several months.

Our case to the Panel will rely on more than the extraordinary trading activity of August 17 and 18, although we believe that record speaks powerfully for itself. Our case will also rely on the fundamental value of what this company has built and on a realistic, near-term plan to demonstrate compliance.

THE PUT OPTION - A NEAR-TERM CATALYST

I want to speak plainly about our Put Option, because I believe the market has not fully appreciated what it represents.

As part of the VXM01 Global Exclusive License Agreement executed in April 2026, OSR Health holds a Put Option exercisable against BCM Europe AG, a Swiss life sciences investment firm backed by South Korean pharmaceutical investors, for $15 million in cash proceeds upon exercise. The option is exercisable from October 29, 2026, at an exercise price of $10.00 per share.

Respectfully, I ask you to consider what that means. BCM Europe agreed to invest in newly issued shares of our Company at $10.00 per share - a significant premium to the current market price as the Global License Agreement did not include an upfront cash payment. In its place, the parties structured the $15 million Put Option, exercisable at $10.00 per share, and agreed that this price would serve as an objective reference for the Company's value set by an institutional counterparty. It reflects a considered, third-party institutional assessment of the value of VXM01 by Avance Life Sciences AG, a premier Swiss life sciences consultancy. And yet OSR Health's shares trade today at a fraction of that figure.

I am not in a position to predict when or how the market will close that gap. What I can confirm is this: the Put Option contractual right remains unchanged. It is legally defined and protected under the Global License Agreement. Our management and BCM Europe have been in active communication with BCM Europe's end investors in Korea regarding their capacity to accept and settle our exercise of the option in October. While we have determined that moving up the exercise date is not currently a practicable option, we confirm that the $15 million Put Option exercisable from October 29, 2026 remains unchanged and exercisable in accordance with terms from that date.

For some additional context: at today's share price, the Company's entire market capitalization is smaller than the cash proceeds we are contractually entitled to receive from the exercise of this single option. We believe that disconnect, in time, will be corrected by the market.

OUR PIPELINE CONTINUES

Our listing status does not slow our business. Woori IO and Darnatein plan to continue their development activities, and we will provide business development updates from both subsidiaries as material developments warrant. OSR Health's mission - building an Innovation Headquarters for global healthcare - also continues forward in spite of our current challenges.

The period ahead is not without uncertainty. The trading suspension on August 26 will be a difficult moment for many of our shareholders, and I do not minimize that.

We are managing this situation proactively. We have a hearing to prepare, a registration statement to file for our CVR program, a Put Option to exercise, and a business to continue building. The work continues every day.

We will continue to update you at every meaningful milestone.

Sincerely,

Peter Hwang
Chief Executive Officer
OSR Health, Inc. (NASDAQ:OSRH)

About OSR Health, Inc.

OSR Health, Inc. (NASDAQ:OSRH) is a global healthcare holding company dedicated to advancing biomedical innovations in health and wellness. Through its subsidiaries, OSR Health engages in immuno-oncology, regenerative biologics, and medical device technologies to improve health outcomes worldwide. Learn more at www.OSR-Health.com.

Investor Contact

OSR Health, Inc.
Investor Relations
[email protected]

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's planned Nasdaq hearing request, the BCM Europe AG Put Option, the CVR program and related S-1 registration, and subsidiary development activities. These statements involve risks and uncertainties - including the outcome of the Nasdaq Hearings Panel proceeding, BCM Europe AG's ability to satisfy its Put Option obligations, and other risks described in the Company's SEC filings - that may cause actual results to differ materially. The Company undertakes no obligation to update these statements except as required by law.

SOURCE: OSR Health, Inc.

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