PHGE News & Events

BiomX entered into an option agreement to acquire control of DFSL, a developer of proprietary Laser Radar-based detection systems for security, defense, and critical infrastructure applications. DFSL's LADAR technology combines laser-based sensing with proprietary AI algorithms to detect and respond to both UAV and ground-based intruders. BiomX intends to exercise the option subject to the closing of the underlying agreement and obtaining shareholder approval as necessary or consideration consisting of a combination of cash, promissory note, shares of common stock and warrants. Separately, a third party has agreed to provide a credit line to facilitate operations and company expansion across different geographies. The transaction is subject to regulatory approval in Israel and customary closing conditions. Consideration includes a convertible note and warrants, in each case convertible or exercisable at $12 per share. The structure is designed to align shareholder value with future growth and performance milestones.

BiomX announced that the company received a notice from the staff of NYSE American that the company was not in compliance with the NYSE American's continued listing standards in Part 10, Section 1003 of the NYSE American company guide, requiring a company to have stockholders' equity of at least $2M if it has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years, Section 1003 of the company guide requiring a company to have stockholders' equity of at least $4M if it has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years and Section 1003 of the company guide requiring a company to have stockholders' equity at least $6M if it has reported losses from continuing operations and/or net losses in its five most recent fiscal years. The notice also indicates that the company is also not currently eligible for any exemption in Section 1003 of the company guide.

BiomX announced the launch of X Security & Defense LTD., a new wholly-owned subsidiary. The company will finance its 2026 operations with over $3M from internal funds, including for operations and acquisitions related to security, defense and first response. For its initial transaction, BiomX has signed a non-binding LOI with an unrelated third party to secure the exclusive distribution rights in Israel for an advanced aerial firefighting system from a drone components and payload developer. The proposed license would grant X Security & Defense the rights to distribute drone-based fire suppression solutions. The system utilizes high-pressure water and fire-retardant dispersion, enabling fire suppression while reducing risk to personnel and minimizing reliance on traditional aerial or ground-based firefighting methods, while also supporting first responders with enhanced situational awareness and rapid response capabilities. BiomX's intended investment will fund X Security & Defense's operations and initial deployment of this

BiomX released the following letter from its Chief Executive Officer to stockholders. "Over the past several weeks, BiomX has taken decisive steps to reshape its leadership, priorities, and financial structure. Leadership has evolved, strategic priorities have been sharpened, and we are taking concrete steps intended to improve the Company's financial and operational structure. These changes have not been easy, but they are necessary to put BiomX on a stronger and more disciplined path forward... One such change relates to the warrants issued in connection with the recent investment completed in December 2025. These warrants were originally structured with a five-year term. Following consideration, the Board, in agreement with the warrant holders, determined to amend the warrant structure so that the warrants will have a one-year exercise period with an adjusted exercise price of $1.00 per share... Looking ahead, we are focused on simplifying our capital structure and strengthening our financial foundation to support future growth. These actions are intended to enhance our flexibility to access capital as we pursue the right opportunities. As part of this process, we are actively evaluating opportunities to reposition the Company toward sectors benefiting from strong global demand for advanced technologies, including defense-related applications... In parallel, we have increased our engagement with the capital markets and are actively engaging with investment banks and institutional investors, In addition, we are evaluating strategies, broader opportunities, and potential targets to reposition the Company. BiomX is also consulting with Wall Street and business advisors to support such growth. Our new leadership team brings experience across financial markets, corporate strategy, and public-Company management, including managing large public companies in the energy and defense sectors. We are focused on operating BiomX with strong financial discipline and responsible capital allocation. We believe the steps we are taking support a more flexible and disciplined path forward while positioning BiomX to create long-term value for stakeholders."