Split-adjusted trading to begin on The Nasdaq Capital Market at market open on October 12, 2026

LANGHORNE, Pa., Oct. 12, 2026 (GLOBE NEWSWIRE) -- NEXGEL, Inc. ("NEXGEL" or the "Company") (NASDAQ: "NXGL"), a company with a patient centric medical technology sales and marketing team working closely with clinicians to provide solutions that drive better outcomes, streamline care, and elevate the patient experience, today announced that its common stock, par value $0.001 per share (the "Common Stock"), will begin trading on a split-adjusted basis on The Nasdaq Capital Market at the opening of trading today, following the effectiveness of a previously announced 1-for-20 reverse stock split of the Company’s issued and outstanding Common Stock (the "Reverse Stock Split"). The Common Stock will continue to trade on The Nasdaq Capital Market under the symbol "NXGL" and has been assigned a new CUSIP number, 65344E 206.

The Reverse Stock Split was approved by the Company’s stockholders at a special meeting held on September 23, 2026, and the Company’s Board of Directors subsequently approved the 1-for-20 ratio. The Reverse Stock Split became effective at 12:01 a.m. Eastern Time today pursuant to a Certificate of Amendment to the Company’s Amended and Restated Certificate of Incorporation, as amended, filed with the Secretary of State of the State of Delaware.

The Reverse Stock Split is intended to increase the per-share trading price of the Common Stock to help the Company regain compliance with Nasdaq’s $1.00 minimum bid price requirement for continued listing. There can be no assurance that the Company will regain or maintain compliance with that requirement.

As a result of the Reverse Stock Split, every twenty (20) shares of issued and outstanding Common Stock were automatically combined into one (1) share of Common Stock, without any action on the part of stockholders. The Reverse Stock Split reduces the number of outstanding shares of Common Stock from 9,747,663 shares (as of October 9, 2026) to approximately 487,384 shares, before giving effect to the rounding up of fractional shares. The number of authorized shares of capital stock and the par value of $0.001 per share of the Common Stock are not affected.

No fractional shares will be issued in connection with the Reverse Stock Split. Stockholders who would otherwise be entitled to a fractional share will instead receive one whole share of Common Stock in lieu of such fractional share, and no cash will be paid in lieu of fractional shares. Proportional adjustments will also be made to the Company’s outstanding equity awards, warrants and other convertible or exercisable securities in accordance with their respective terms.

Stockholders who hold their shares through a bank, broker or other nominee do not need to take any action, and registered stockholders with questions may contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, at 800.509.5586.

About NEXGEL, INC.

NEXGEL, through its Bionx Surgical division, is a patient centric medical technology sales and marketing team working closely with clinicians to provide solutions that drive better outcomes, streamline care, and elevate the patient experience. Bionx has a strong offering of products including Biovance (human amniotic membrane allograft), Biovance 3L (tri-layer human amniotic membrane allograft), Interfyl (human connective tissue matrix), SilverSeal (antimicrobial hydrogel wound dressing), and an expansive opthalmic portfolio of placental derived ocular allografts (LUCENT, single layer, RADIANT, dual layer, and VIVID, triple layer). Additionally, NEXGEL is a provider of healthcare, beauty, and over the counter (OTC) products including ultra-gentle, high-water-content hydrogel products for healthcare and consumer applications. Based in Langhorne, Pa., the Company has developed and manufactured electron-beam, cross-linked hydrogels for over two decades. In addition to the above, NEXGEL brands include Hexagels^®, Turfguard^®, Kenkoderm^® and Silly George^®. NEXGEL also has strategic contract manufacturing relationships with leading consumer healthcare companies.

Forward-Looking Statement

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs, such as "will," "should," "would," "may," and "could," are generally forward-looking in nature and not historical facts, including, without limitation, statements regarding the anticipated effects of the Reverse Stock Split and the Company’s ability to regain and maintain compliance with Nasdaq’s minimum bid price requirement. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance, or achievements to be materially different from any anticipated results, performance, or achievements for many reasons. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2025, including but not limited to the discussion under "Risk Factors" therein, which the Company filed with the Securities and Exchange Commission (the "SEC") and which may be viewed at http://www.sec.gov/.

Investor Contact:

Valter Pinto, Managing Director

KCSA Strategic Communications

212.896.1254

Nexgel@kcsa.com