Proteomics International Laboratories (PIQ) Investor update summary

Commercial progress and milestones

• Strategic-plan milestones achieved ahead of schedule; operations reorganised, operating costs reduced and direct-to-consumer model discontinued in favour of distributor-led market access.

• Healius secured as exclusive Australian pathology distributor; national PromarkerD and PromarkerEso rollout began 26 Oct 2026 at private-pay prices of A$495 and A$997, with samples processed in Perth.

• Clinician training and outreach are underway; sales are expected in the near future, while September-quarter customer receipts of AUD 264,000 excluded Promarker test sales.

• PromarkerEndo independently validated; Australian launch through Healius targeted for Jan–Mar 2027, with pricing to be confirmed and further refinement, including for early-stage disease, planned.

Portfolio and clinical evidence

• PromarkerD identifies people with diabetes at risk of kidney disease up to four years before symptoms; performance: 76% sensitivity, 92% specificity, 95% NPV and 0.78 AUC.

• PromarkerEso triages people with chronic reflux for oesophageal cancer assessment, aiming to reduce unnecessary invasive endoscopies; performance: 91% sensitivity, 98% specificity, 99.9% NPV and AUC above 0.98.

• PromarkerEndo is a blood test for women with symptoms suggestive of endometriosis; sensitivity ranges from 68% for stages I–IV to 90% for stage IV, with 71% specificity across groups.

• Australian PromarkerD and PromarkerEso pricing implies indicative annual revenue of AUD 25m at serviceable obtainable volumes; the stated U.S. opportunity is an order of magnitude greater.

• Medicare reimbursement is being pursued for all three tests in Australia, alongside reimbursement efforts in the U.S. and private systems; PromarkerD health economics review is complete.

Funding and use of proceeds

• Share purchase plan launched 4 Nov and closes 25 Nov 2026; target proceeds AUD 5m at AUD 0.10 per share, a 12.2% discount to five-day VWAP, with one attaching option per share subject to shareholder approval.

• Eligible Australian and New Zealand shareholders may apply for up to AUD 30,000; eligible directors intend to take up their full allotment, and the CEO proposed investing AUD 108,000 of STI in shares, subject to approvals.

• End-September cash was AUD 1.8m; sources total AUD 4.1m after an AUD 2m R&D tax refund and AUD 0.3m forecast other income, or AUD 9.1m assuming the SPP reaches its target.

• Reaching the SPP target is expected to fund operations through October 2027, excluding revenue; proceeds prioritise commercial execution, U.S. entry, clinical evidence, reimbursement, and laboratory efficiency and capacity.

• Planned uses include AUD 2.0m for R&D and AUD 1.6m each for clinical evidence and commercial execution; the reduced operating run rate accompanies expectations of near-term revenue as tests gain traction.