MindWalk Advances AI-Designed GLP1 Program And Launches Segregated AI Asset Structure

MindWalk (NASDAQ:HYFT), a BioNative AI biotherapeutic research and technology company combining in silico and wet lab operations for biologics discovery and development, today announced financial results for the second quarter of fiscal 2026 and provided updates on its AI driven asset pipeline and strategic initiatives. MindWalk operates a proprietary BioNative AI platform built on patented HYFT® patterns—evolution shaped subsequence codes that link sequence, structure and function. These patterns underpin LensAI™, a software platform that harmonizes and analyzes diverse biological data to deliver actionable insights.

Financial Highlights (Quarter Ended October 31, 2025)

• Revenue: $4.1 million, up 54% year-over-year and 30% sequentially, driven by improved project revenue and better utilization across both project-based and platform-related revenue streams.
• Gross margin: 65%, up from 51% in the prior year quarter. Gross profit increased significantly, by 94% year-over-year to $2.7 million, as fixed cost leverage and higher margin projects improved profitability.
• Operating loss, excluding amortization and nonrecurring items, improved notably to $2.8 million from $4.1 million a year ago.
• Adjusted EBITDA: Loss improved to $2.4 million, versus $2.6 million in the prior year period.
• Liquidity: Cash and cash equivalents of $16.5 million at quarter end (including proceeds from the sale of the Company's former Netherlands operations), providing flexibility to invest in platform expansion and inhouse pipeline programs.

Strategic and Operational Highlights

Major portfolio progress

• GLP1 & longevity program – MindWalk advanced its AI designed GLP1 receptor agonist program, achieving receptor activation above semaglutide in in vitro assays. The Company also identified a companion pathway linked to aging biology and is developing a dual pathway regimen aimed at metabolic control and longevity.
• Universal dengue vaccine initiative – Using its LensAI platform, which leverages HYFT patterns to analyze multi‑omic data, MindWalk pinpointed a highly conserved, discontinuous epitope shared across all four dengue virus serotypes. Preclinical planning is under way with completion anticipated early next quarter, and a collaborator has been selected to advance this program.

Rebranding and leadership expansion

The Company completed its corporate rebranding to MindWalk and consolidated its operating units under the HYFT Nasdaq ticker. During the quarter MindWalk welcomed Scott Areglado as Chief Financial Officer and Dr. Thomas Lynch as Chief Business Officer.

Strategic divestiture

MindWalk closed the sale of its Netherlands operations, generating net proceeds of $14.3 million. The divestiture allows the Company to allocate resources toward its BioNative AI initiatives and high value wet lab programs aligned with LensAI.

New structure for AI asset pipeline

MindWalk has initiated the formation of a corporation in the Cayman Islands with Walkers law firm to house segregated portfolios for each AI driven program. Under this structure, assets and liabilities for each program will be ringfenced, allowing investors to participate directly in individual portfolios rather than through the public company. Management has received strong expressions of interest from prospective investors and will provide further details as the structure is finalized.

Upcoming strategic update

MindWalk plans to issue a press release through national media channels on the first day of the J.P. Morgan Healthcare Conference, January 12th. This update will include new information on the AI asset pipeline and the Company's capital and partnering strategy.