#Canada #Quebec #Devonian Health #Thykamine #Pierre Labbé

Devonian Health Group 2025 Financial Report

Devonian Health Group Inc. has recently published its financial results for the fourth quarter and the entire fiscal year ending July 31, 2025. The results show a company on the cusp of transformative changes, with strategic appointments and research advancements kicking off the next chapter for the firm.

Financial Overview

In the fourth quarter, Devonian reported distribution revenues of $1.3 million, a stark contrast to the previous year's figures, reflecting a significant 87% decline primarily due to the expiration of its Dexlansoprazole distribution agreement at Altius Healthcare Group LP. Over the fiscal year, overall distribution revenues amounted to $23.6 million, marking a 22% increase compared to the same period last year, indicating a resilient sales strategy despite recent setbacks.

The net loss for the fourth quarter stood at $0.4 million, translating to a loss of $0.003 per share. This was a downturn from the previous year, which had shown a quarterly net income of $0.75 million or $0.003 per share. For the entire fiscal year, the total net loss increased to $6 million, or $0.041 per share, against $1.83 million in 2024. A standout factor in this financial performance was a non-cash goodwill impairment loss of $4.6 million.

However, the corporation remains debt-free with $7 million in cash as of the end of July 2025. This financial stability provides a solid foundation for future expansions and research projects.

Strategic Appointments

Additionally, Devonian has appointed Pierre Labbé to its Board of Directors—an exciting development aimed at enhancing the company’s strategic direction. With over 30 years of financial leadership, Labbé is expected to bring invaluable expertise. Currently, he serves as the Executive Vice-President of Finance at Fonds QScale S.E.C., where he is responsible for financial strategies and investor relations. Previously, he played key roles in other notable companies, displaying an insightful understanding of financial management and regulatory frameworks in the biopharmaceutical landscape.

Dr. Andre Boulet, Chairman and CEO of Devonian, expressed confidence in Labbé's appointment, stating the fresh perspective and experience will significantly bolster the Board’s capabilities.

Additionally, Devonian recognizes the contributions of former board member Jean Forcione, who resigned in late September 2025, thanking him for his valuable service during his tenure.

Research and Development

With a renewed focus on advancing its flagship product Thykamine™, Devonian is setting its sights on new applications for inflammatory diseases. The current phase 2/3 clinical study investigating Thykamine™ in pediatric patients with atopic dermatitis (eczema) is a key area of innovation, and the firm is also seeking additional patent protections to extend the therapeutic reach of this product.

Devonian's commitment to unwavering research efforts is evident, as the company recently completed preclinical studies showcasing potential applications of Thykamine™ across other inflammatory conditions, including metabolic-associated steatohepatitis (MASH) and various fibrosis-related issues.

Future Outlook

The company is paving its path towards becoming a leader in the biopharmaceutical market that targets unmet medical needs. With a robust financial standing, new strategic appointments, and ongoing research activities, Devonian Health Group is poised for growth and innovation in the coming years.

For a detailed overview of the financial statements, investors can access them through Devonian's profile on SEDAR+ at www.sedarplus.ca and on their website at https://groupedevonian.com/investor-center/financial-reports.

In conclusion, Devonian Health Group is laying the groundwork for a future that combines strategic innovation with strong fiscal discipline, positioning itself for sustained success in the evolving biopharmaceutical landscape.