Business
Devonian Health Group Reports Third Quarter 2025 Financial Results
Third quarter revenues increased 36% compared to 3Q24 Third quarter net loss of $0.03...
About this update from Devonian Health Group, Inc.
[{"type":"text","content":"Devonian Health Group Reports Third Quarter 2025 Financial Results\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }\n \n\n\n\n\n\n\n Third quarter revenues increased 36% compared to 3Q24\n \n\n\n\n\n\n Third quarter net loss of $0.032 per share\n \n\n\n\n\n\n\n Devonian Health Group Inc. (“\n \n Devonian\n \n ” or the “\n \n Company\n \n ”) (\n \n TSXV: GSD; OTCQB: DVHGF\n \n ), today announced financial results for its third quarter ended on April 30, 2025.\n \n\n\n Management Comments\n \n\n\n\n “\n \n\n The operating cash flows generated by Altius revenues continued to support the development progress of Thykamine™, our lead product candidate, While our distribution agreement for DEXLANSOPRAZOLE has now ended, our liquidity has enabled us to continue creating value by advancing our Thykamine™ development program,” said Dr André Boulet, Chief Executive Officer of the Company.\n \n\n\n\n Business Highlights\n \n\n\n\n\n Completed preclinical studies designed to demonstrate new potential applications of Thykamine™ across even more inflammatory diseases, including MASH and fibrosis.\n \n\n\n\n Appointment of Dr Andre Boulet as Chief Executive Officer\n \n\n\n\n Appointment of Luc Gregoire as Executive Vice-President Strategy\n \n\n\n\n\n Financial Highlights\n \n\n\n\n\n Distribution revenue for the third quarter was $7.36 million driven by DEXLANSOPRAZOLE revenues which launched in early 2024 but has now ended as of April 2025\n \n\n\n\n The Company recorded during the quarter a non-cash impairment loss of $4.84 million against goodwill and intangible assets associated with the expiration of the Dexlansoprazole agreement which represented 95% of revenue in the current fiscal year to date\n \n\n\n\n Net loss for the quarter was $4.8 million, or $0.032 per share, entirely attributable to the $4.84 million non-cash impairment loss mentioned above\n \n\n\n\n\n\n To consult the Interim Consolidated Financial Statements for the three and nine month periods ended April 30, 2025 and 2024, please click on the following link:\n \n\n\n\n\n https://groupedevonian.com/investor-center/financial-reports/\n \n\n\n\n\n .\n \n\n\n\n\n About Devonian\n \n\n\n Devonian Health Group is a clinical stage pharmaceutical company ...