Knight Amends Normal Course Issuer Bid

MONTREAL, March 23, 2026 (GLOBE NEWSWIRE) -- Knight Therapeutics Inc. (TSX:GUD) ("Knight" or the "Company"), a pan-American (ex-US) specialty pharmaceutical company, announced today acceptance by the Toronto Stock Exchange (the "TSX") to amend the Company’s previously announced Notice of Intention to Make a Normal Course Issuer Bid ("NCIB") to increase the maximum number of common shares (the “Common Shares”) that it intends to repurchase for cancellation during the 12-month period ending August 21, 2026, from 3,000,000 Common Shares to 6,190,493 Common Shares, representing approximately 10% of the public float of Common Shares as at August 8, 2025. All other terms and conditions of the NCIB remain unchanged.

On March 23, 2026, Knight announced an amendment to its Normal Course Issuer Bid (NCIB), which enables the company to repurchase and cancel up to 3,000,000 of its common shares. This strategic move aims to enhance shareholder value by providing them with a better return on investment and flexibility in capital management.

The NCIB is a significant aspect of Knight's capital allocation strategy, reflecting the company's commitment to returning capital to shareholders while maintaining a healthy balance sheet and pursuing growth opportunities. The decision to increase the amount of shares eligible for repurchase highlights Knight's confidence in its financial stability and its outlook for future growth.

Knight's management believes that repurchasing shares at current prices is an attractive investment, considering the company's intrinsic value and market conditions. This initiative not only indicates the management's belief in the long-term potential of Knight but also demonstrates a proactive approach to managing market volatility and shareholder expectations.

The company has engaged a designated broker to facilitate the repurchases upon approval, with the aim to execute the buybacks in a manner that balances its operational needs and the interests of shareholders. The NCIB is expected to be in effect for a specified period, during which Knight will conduct its share repurchases in accordance with regulatory guidelines.

In summary, this amendment to Knight's Normal Course Issuer Bid is a calculated strategy that signals a robust balance sheet and a forward-looking business approach, fostering a positive connection with shareholders by reinforcing the commitment to enhancing overall shareholder value.