Mr. David Hyman reports

RAKOVINA THERAPEUTICS INC. ANNOUNCES 2023 FINANCIAL RESULTS AND PROVIDES CORPORATE UPDATE

Rakovina Therapeutics Inc. has released the financial results for its fourth quarter and fiscal year ending Dec. 31, 2023, and provided a corporate update.

2023 highlights and recent developments:

• On March 27, 2024, the company announced a collaboration agreement with Dr. Artem Cherkasov, granting Rakovina with exclusive access to the proprietary Deep Docking artificial intelligence (AI) platform for DNA-damage response targets. Using the Deep Docking platform powered by advanced AI algorithms, Rakovina can quickly analyze billions of molecular structures to evaluate their potential as targeted cancer drugs. The company then validates the activity using its established R&D (research and development infrastructure. This approach is innovative to developing new drug therapies that target DNA-damage response-related vulnerabilities that are common in many types of cancer.
• On Nov. 27, 2023, the company announced the appointment of Prof. Artem Cherkasov, senior scientist at the Vancouver Prostate Center and Canada research chair in precision cancer drug design to Rakovina Therapeutics' scientific advisory board.
• On Nov. 20, 2023, the company announced the appointment of Prof. Petra Hamerlik, chair of translational neuro-oncology at the University of Manchester and former CNS cancer bioscience lead at AstraZeneca PLC, to Rakovina Therapeutics' scientific advisory board.
• In June, 2023, the company published a manuscript in the Journal of Clinical Cancer Research reporting the characterization of a kt-3000 lead candidate with dual activity against PARP and HDAC enzymes as a potential treatment for Ewing sarcoma and other treatment-resistant cancers.
• On April 19, 2023, the company presented new preclinical in vitro and in vivo data demonstrating the potential of its kt-3000 series against treatment-resistant Ewing sarcoma, a rare childhood tumour, at the annual meeting of the American Association of Cancer Research (AACR).
• On March 30, 2023, the company announced the engagement of Red Cloud Securities and Proactive Investors North America Inc. as part of its strategy to improve trading liquidity and increase awareness of its next-generation cancer therapy development pipeline.
• On March 22, 2023, the company announced the receipt of $122,865 in non-dilutive financing from the National Research Council of Canada industrial research assistance program.
• On March 17, 2023, the company presented new preclinical data describing progress in its lead optimization activities for its novel kt-3000 series at the EACR-AACR Basic and Translational Research Conference.

Summary of financial results for the fourth quarter and year ended Dec. 31, 2023

At Dec. 31, 2023, the company had positive working capital of approximately $477,881.

For the three and 12 months ending Dec. 31, 2023, the company reported a net loss of $722,733 and $2,612,925, respectively. Research and development operating expenses were $419,482 and $1,671,677 for the three and 12 months ended Dec. 31, 2023, respectively. General and administrative expenses were $241,928 and $810,424 for the three and 12 months ending Dec. 31, 2023, respectively. Total cash operating expenses related to research and development and general and administrative expenses for the three and 12 months ended Dec. 31, 2022, were $488,414 and $1,816,715, respectively.

Rakovina Therapeutics' financial statements as filed with SEDAR+ can be accessed from the company's website.

About Rakovina Therapeutics Inc.

Rakovina Therapeutics is focused on the development of new cancer treatments based on novel DNA-damage response technologies. The company has established a pipeline of novel DNA-damage response inhibitors with the goal of advancing one or more drug candidates into human clinical trials and obtaining marketing approval for new cancer therapeutics from Health Canada, the United States Food and Drug Administration, and similar international regulatory agencies.

We seek Safe Harbor.