BELLEVUE, WA / ACCESS Newswire / July 13, 2026 / OSR Health, Inc. (NASDAQ:OSRH) today released the following letter from Chief Executive Officer to shareholders.
To Every OSR Health Shareholder:
OSR Health is at an inflection point - one that I believe will be looked back upon as the moment this company's underlying value began to be recognized by the broader market. Before that recognition arrives, I want to speak to the shareholders who have been here all along.
You chose to believe in what we are building at a time when it was not easy to hold. You have stayed through volatility, through noise, and through a share price that has not yet reflected what we believe this company is worth. I see it. Our Board sees it. And we have designed the Shareholder Loyalty CVR Program specifically to recognize it.
Our proposed program is not a reverse split, and not a mechanical adjustment that leaves you with the same economic position dressed up differently, but a genuine reward - additional shares, at no cost, delivered automatically as we climb together toward price levels that reflect what we firmly believe to be our real fundamental value.
Hold through the three-month measurement date and reach $2.00: your position grows to one and a half times what you hold today. Hold for a full year and reach $5.00: six times. Every additional share we deliver belongs to the people who stayed.
Tier | Holding Period | Price Trigger | Additional Shares | Your Position |
Tier 1 | 3 months | ≥ $2.00 | + 0.5 shares / CVR | 1.5× original |
Tier 2 | 6 months | ≥ $3.00 | + 1.0 shares / CVR | 2.5× original |
Tier 3 | 9 months | ≥ $4.00 | + 1.5 shares / CVR | 4.0× original |
Tier 4 | 12 months | ≥ $5.00 | + 2.0 shares / CVR | 6.0× original |
All tiers are cumulative. A holder who satisfies all four measurement dates will receive five additional shares per CVR - a total position of six times the original.
What the Market is Missing
Let me be direct about where we stand fundamentally, because I believe the current share price represents one of the most significant disconnects from underlying value I have seen in my career.
▸ VXM01 - $815 Million in Licensed Milestones, and a Put Option the Market Is Pricing at Zero
Vaximm's VXM01 has been licensed. The agreement is signed, the milestone stream of up to $815 million is contractually established, and Avance Life Sciences AG's independent risk-adjusted NPV analysis places the present value of that milestone stream at approximately $94 million - the sum arrived at upon discounting the full $815 million through probability-weighted clinical and regulatory scenarios. Against a current market capitalization that sits below even that figure, the valuation disconnect is already significant.