DURHAM, N.C., Jan. 16, 2024 (GLOBE NEWSWIRE) -- NightHawk Biosciences (NYSE:NHWK) ("NightHawk" or the "Company"), an integrated contract development and manufacturing organization (CDMO), today announced its Scorpius BioManufacturing subsidiary has been awarded a project to support a preclinical program for a U.S. based biotech company. The initial project value exceeds one million dollars, with the potential to exceed several million dollars over the next two years.

Jeff Wolf, CEO of NightHawk, commented, "We are pleased to have been awarded this competitive bid due to the versatility of our biologics facility, manufacturing readiness, and commitment to quality. This award reflects our growing reputation in the industry, as well as our track record advancing early stage clinical programs. A key element of this project is Scorpius' specialized analytical and process development laboratories where the client benefits from our expertise in biologics and, in particular, microbial fermentation, which is garnering significant attention in the industry. Although the work outlined in this contract is anticipated to be completed in 2024, our intent is to expand the scope of the project as they prepare for phase 1 clinical trials and beyond."

NightHawk Biosciences, Inc.

NightHawk Biosciences, through its Scorpius BioManufacturing subsidiary, is an integrated contract development and manufacturing organization (CDMO) focused on rapidly advancing biologic and cell therapy programs to the clinic and beyond. Scorpius offers a broad array analytical testing, process development, and manufacturing services to pharmaceutical and biotech companies at its state-of-the-art facilities in San Antonio, TX. With an experienced team and new, purpose-built U.S. facilities, Scorpius is dedicated to transparent collaboration and flexible, high-quality biologics biomanufacturing. For more information, please visit: www.nighthawkbio.com or www.scorpiusbiologics.com, and also follow us on Twitter.

Forward-Looking Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements such as the potential to exceed several million dollars over the life of the project, completing the work outlined in the contract by 2024 and building a long-term relationship with the client in order to expand the scope of the project as they prepare for phase 1 clinical trials and beyond. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to complete the work outlined in 2024 and to expand the scope of the project, the Company's ability to generate future revenue from manufacturing contracts , the Company's ability to continue to grow revenue, leverage fixed costs and achieve long-term profitability; the Company's ability to create substantial shareholder value as a pure-play CDMO in an underserved marketplace; the Company's financing needs, its cash balance being sufficient to sustain operations and its ability to raise capital when needed, the Company's ability to successfully operate as a CDMO the ability to obtain regulatory approval or to comply with ongoing regulatory requirements, regulatory limitations relating to the Company's ability to successfully promote its services and compete as a pure- play CDMO, and other factors described in the Company's annual report on Form 10-K for the year ended December 31, 2022, subsequent quarterly reports on Form 10-Qs and any other filings the Company makes with the SEC. The information in this presentation is provided only as of the date presented, and the Company undertakes no obligation to update any forward-looking statements contained in this presentation on account of new information, future events, or otherwise, except as required by law.

Media and Investor Relations Contact

David Waldman

+1 919 289 4017

investorrelations@nighthawkbio.com

NightHawk's Scorpius BioManufacturing Subsidiary Commences Work on Preclinical Program for New Client