Fourth quarter distribution revenues of $1.3 million
Fourth quarter net loss of $0.4 million, $0.003 per share
Annual distribution revenues of $23.6 million
Annual net loss of $6 million, $0.041 per share
Devonian is debt free with $7 million in cash as of July 31, 2025
Pierre Labbé appointed as a new board member
QUÉBEC, Nov. 26, 2025 /PRNewswire/ – Devonian Health Group Inc. (“Devonian” or the “Corporation”) (TSXV: GSD) (OTCQB: DVHGF), a biopharmaceutical corporation specializing in the development of prescription drugs targeting inflammatory diseases today announced financial results for its fourth quarter and fiscal year ended July 31, 2025.
Management Comments
“Our year-end results reflect a company that is financially disciplined, debt-free, and strategically positioned for the next phase of value creation. With this strong foundation, we are intensifying our efforts to advance Thykamine™’s added-value programs in the fibro-inflammatory space—an area where unmet medical needs remain significant. Our team is committed to executing with excellence as we continue building momentum and delivering on our long-term vision for Devonian.” said Dr. Andre Boulet, Chairman and Chief Executive Officer of Devonian.
Business Highlights
Completed preclinical studies aimed at demonstrating new potential applications of Thykamine™ across additional inflammatory diseases, including MASH and fibrosis.
Focusing on the Thykamine™ phase 2/3 study in pediatric mild-to-moderate atopic dermatitis (eczema)
Securing additional patent protection related to mechanisms of action and other therapeutic applications
Appointment of Mr. Pierre Labbé, CPA as member of the Board of Directors. Mr. Jean Forcione has resigned. We thank him for his collaboration
Continuing the distribution of two (2) products through Altius, namely the Pantoprazole Magnesium, until April 2026 and Cléo-35
Financial Highlights
(all amounts are in Canadian dollars)
Distribution revenues for the fourth quarter were $1.3 million, down 87% year over year. This decrease is mainly related to the previously announced expiration of the distribution agreement for Dexlansoprazole in April 2025 which related to the subsidiary Altius Healthcare Group LP (“Altius”) distribution business. For the fiscal year ended July 31, 2025, distribution revenues were $23.6 million, up 22% year over year. Dexlansoprazole represented 93% of the distribution revenues.
For the fiscal year ended July 31, 2025, research and development expenses were $2 million, up 55.8% year over year. This increase is mainly driven by the preparation of the Thykamine™ pediatric Atopic Dermatitis phase 2/3 clinical study as well as the preclinical studies to support new applications.
Net loss for the fourth quarter was $0.375 million, or $0.003 …