Enlivex Therapeutics (ENLV) investor relations material

Executive summary

• 2025 marked a transformational year, establishing a dual-engine model combining clinical longevity assets and a prediction markets treasury, positioning at the intersection of health span and wealth span.

• Achieved net income of $1.23 billion and diluted EPS of $25.48 for the year ended December 31, 2025, driven by appreciation in treasury and treasury-related derivative assets.

• Strategic partnership with Rain Foundation provides exclusive options to acquire RAIN tokens, embedding high-growth potential in the capital structure.

• The dual strategy aims to self-fund clinical development from treasury appreciation, reducing reliance on traditional biotech financing.

Financial highlights

• Reported full-year 2025 net income of $1.23 billion and diluted EPS of $25.48, driven by treasury asset appreciation.

• Ended 2025 with $2.31 billion in treasury and treasury-related assets and $1.93 billion in shareholders' equity.

• Cash, cash equivalents, and short-term investments in digital assets were $30.0 million.

• Results reflect market-based revaluation of strategic holdings, particularly the RAIN token.

Outlook and guidance

• Expectation that the dual-engine model is scalable and repeatable, not a one-time event.

• Upcoming clinical milestones include a Phase IIb trial in knee osteoarthritis, with top-line data expected in 2027.

• Continues to advance Allocetra™, targeting age-related osteoarthritis and other inflammatory conditions associated with aging.

• Expects to benefit from expanded exchange listings and increased liquidity of the RAIN token, supporting treasury strategy.

• Anticipates continued growth in prediction markets and further institutional adoption.