TYK Medicines, Inc. confirmed that its planned issuance of 63.22 million H shares to Qilu has lapsed after the two parties chose not to extend the revised long stop date of 20 September 2026. The decision follows the non-fulfilment of certain conditions precedent under the Subscription Agreement and recent market volatility affecting the Company’s share price.

The Subscription Agreement, first announced on 21 July 2026 and amended on 20 August 2026, was structured under the Company’s general mandate. Completion was conditional on multiple approvals and procedural steps that remained outstanding as the deadline approached. With no further extension granted, the agreement terminated automatically at the end of 20 September 2026.

Post-termination, TYK Medicines and Qilu bear no further obligations under the Subscription Agreement except for any liabilities arising from prior breaches. Separately, both parties confirmed that the existing License and Collaboration Agreement and the Supplies and Commercialization Agreement announced earlier will continue in full force.

TYK Medicines’ board stated that the lapse of the subscription will not materially affect the Group’s business operations or financial position. Management also indicated that discussions on potential future share issuance and subscription arrangements with Qilu are ongoing, with any material developments to be disclosed in accordance with Hong Kong Listing Rules.