BullFrog AI Releases Annual Shareholder Letter, Outlook for 2026
BullFrog AI Holdings announced the release of its annual letter to shareholders, which read in part, "As we close 2025, I want to thank you for your continued support of BullFrog AI and to reflect on what has been a pivotal year for the Company. Over the past twelve months, we have made meaningful progress across technology development, commercial execution, and external validation-progress that we believe positions BullFrog AI for a transformative 2026. This year marked an important evolution for BullFrog AI, from platform development and early validation to commercialization and enterprise adoption. At the core of our approach is the belief that artificial intelligence should augment human expertise, not replace it, enabling scientists and clinicians to make better, faster, and more confident decisions across the drug discovery and development lifecycle through causal, explainable AI. In 2025, this philosophy guided the foundational progress we made in strengthening our technology, validating its real-world relevance, and positioning the Company for what we believe will be a period of rapidly expanding commercial engagement moving forward...As we enter 2026, BullFrog AI is moving forward from a position of increased validation, credibility, and commercial adoption. We have an enterprise-grade platform in market, a growing set of real-world proof points, and multiple active pharmaceutical discussions that reflect both near-term opportunity and longer-term partnership potential. In the year ahead, we expect several developments to serve as important catalysts, including continued commercialization through Sygnature Discovery, expanding direct engagement around bfPREP and clinical trial optimization solutions, the public presentation of our Eleison collaboration data at ASCO in January, and executing contracts and partnerships with large pharmaceutical companies that leverage our entire platform, data and know-how. We believe these milestones can reinforce momentum across both active discussions and new engagement opportunities, further validating BullFrog AI's role as a practical, trusted partner in data-driven drug development. While we remain disciplined in our expectations and mindful that execution takes time, we believe the foundation fortified in 2025 positions the Company for a period where progress can translate into meaningful commercial outcomes. With a focused strategy, differentiated technology, and a lean operating model, we are committed to advancing BullFrog AI in a way that maximizes long-term value creation for our shareholders."
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- Technology Launch: BullFrog AI is set to launch a new scenario-based decision engine on March 25, 2026, aimed at enhancing its existing bfPREP™ and bfLEAP® platforms, thereby improving the intelligence workflow in drug development.
- Enhanced Decision-Making: The new engine utilizes proprietary algorithms to test portfolio decisions against multiple explicit scenarios, helping to identify options that perform well across various strategic futures, thus optimizing R&D strategies.
- Addressing Market Needs: With over $200 billion spent annually by life sciences and pharmaceutical companies on R&D and a staggering 90% clinical trial failure rate, the introduction of this technology aims to improve return on investment and mitigate R&D risks.
- Industry-Leading Advantage: According to BullFrog AI Founder and CEO Vin Singh, this technology is unique globally, providing more flexible strategic decision support that accelerates the drug discovery and development process.
- Importance of Data Harmonization: BullFrog AI's white paper emphasizes that data harmonization is a hidden prerequisite for reliable AI/ML analysis, aiming to transform complex biomedical data into actionable insights through bfPREPTM, thereby enhancing drug development success rates.
- Technological Advantage: The company leverages bfPREPTM to quickly identify and standardize fragmented biomedical data, ensuring dataset reliability, allowing research teams to focus more on interpreting results and study design rather than data processing.
- Challenges in AI Pipelines: The white paper highlights that modern AI pipelines often fail in life sciences due to peculiarities in data processing, and BullFrog AI proposes a practical harmonization framework built on three pillars to address these issues and improve data analysis effectiveness.
- Enhancing Clinical Trial Success Rates: By utilizing bfPREPTM, BullFrog AI aims to reduce clinical trial failure rates, enabling teams to utilize data more efficiently and accelerate drug discovery and development processes, further solidifying its market position in the biopharma sector.

- Technological Advancement: In 2025, BullFrog AI made significant strides in technology, transitioning from platform development to commercialization, which is expected to drive rapid commercial engagement in 2026 and enhance the company's competitiveness in the pharmaceutical industry.
- Commercial Collaboration: The partnership with Sygnature Discovery is anticipated to generate significant revenue through 2028, as its global business development team actively promotes BullFrog Data Networks™ to biopharma clients, thereby expanding market reach.
- Data Preparation Tool: The launch of bfPREP™ significantly reduces data preparation timelines from months to days, enhancing BullFrog AI's ability to engage earlier in the drug development process and facilitating deeper analytical collaborations.
- Capital Management: BullFrog AI maintains an annual burn rate of approximately $6.2 million, and its flexible capital allocation strategy allows each significant partnership to potentially improve financial conditions substantially, supporting future growth investments.

Nutex Health's Performance: Nutex Health Inc. saw a significant after-hours surge of 20.97% to $120.00 following a quarterly report that revealed a net loss of $17.7 million but a remarkable 220.7% increase in revenue year-over-year to $244.0 million.
Bullfrog AI Holdings Update: Bullfrog AI Holdings, Inc. gained 5.87% to $0.9798 in after-hours trading, likely due to investor positioning ahead of its upcoming technical presentation at the AI Drug Discovery & Development Summit 2025.
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New Whitepaper Release: BullFrog AI Holdings has published a whitepaper titled "AI in Bioinformatics," highlighting their technology's ability to transform complex data into actionable insights for drug development.
Addressing Bioinformatics Challenges: The whitepaper identifies key pitfalls in bioinformatics that contribute to high clinical trial failure rates and presents BullFrog AI's bfLEAP platform as a solution through causal inference modeling.
Industry Transformation Potential: BullFrog AI aims to bridge the gap between data availability and actionable biological understanding, positioning its modular approach as essential for AI-enabled R&D in pharmaceuticals and biotech.
Forward-Looking Statements: The press release includes forward-looking statements regarding the company's future performance and potential, emphasizing the uncertainties and risks involved in their projections.

Stock Offering: Bullfrog AI (NASDAQ: BFRG) has filed to sell 5 million shares of common stock for existing holders.
Preliminary Prospectus: The filing is a preliminary prospectus and does not constitute an offer to sell the shares.





