Neuphoria initiates strategic review, confirms receipt of indication of interest

Neuphoria Therapeutic announced, as previously disclosed, the initiation of a review of strategic alternatives to advance the Company’s promising pipeline programs and seek to maximize stockholder value. Strategic alternatives under consideration may include, but are not limited to, mergers, acquisition, partnerships, joint ventures, licensing arrangements or other strategic transactions. The Company’s Board of Directors has approved the engagement of H.C. Wainwright & Co. to serve as exclusive financial advisor to assist in the strategic evaluation process. Neuphoria does not have a defined timeline for the exploration of strategic alternatives and is not confirming that the process will result in any strategic alternative being announced or consummated. In addition, on November 10, 2025, the Company received an unsolicited non-binding indication of interest from Lynx Master Fund LP expressing its interest in acquiring all of the outstanding shares of Neuphoria that it does not already own for $5.20 per share in cash and of its intent to nominate certain individuals to stand for election to Neuphoria’s Board of Directors at the Company’s 2025 Annual Meeting of Stockholders. At the 2025 Annual Meeting, there are two Class I Directors standing for election. Neuphoria’s Board of Directors is committed to acting in the best interests of all stockholders. Consistent with its fiduciary duties and responsibilities, Neuphoria’s Board of Directors will, in consultation with its financial and legal advisors, carefully evaluate and consider this indication of interest in connection with its review of strategic alternatives, and its ongoing review of a broad range of opportunities aiming to enhance stockholder value through strategic, financial and operational measures. The Board of Directors and its Nomination and Compensation Committee will review the proposed director nominees and present the Board of Directors’ recommendation regarding director nominees in the Company’s proxy statement, which will be filed with the SEC and mailed to all Neuphoria stockholders eligible to vote at the 2025 Annual Meeting. Any votes and proxies received from the previously distributed proxy statement and proxy card dated October 30, 2025 will be disregarded. The date of the 2025 Annual Meeting is now December 12, 2025 and the record date for the meeting remains October 15, 2025.