Devonian Health Group Reports its Fourth Quarter and Annual 2025 Financial Results and Appointment of a New Board Member

Core Viewpoint - Devonian Health Group Inc. reported its financial results for the fourth quarter and fiscal year ended July 31, 2025, highlighting a debt-free status and a strategic focus on advancing its Thykamine™ programs in the fibro-inflammatory space [2][5]. Financial Highlights - Fourth quarter distribution revenues were $1.3 million, representing an 87% decrease year over year, primarily due to the expiration of the distribution agreement for Dexlansoprazole [5][6]. - Annual distribution revenues totaled $23.6 million, marking a 22% increase year over year, with Dexlansoprazole accounting for 93% of these revenues [5][6]. - The company reported a fourth quarter net loss of $0.4 million, or $0.003 per share, compared to a net income of $0.75 million, or $0.003 earnings per share in the same quarter last year [5][6]. - For the fiscal year, the net loss was $6 million, or $0.041 per share, compared to a net loss of $1.83 million, or $0.012 per share in the previous year, largely due to a one-time goodwill impairment loss of $4.6 million [5][6]. - As of July 31, 2025, the company had $7 million in cash and was debt-free after repaying its long-term debt of $2.2 million during the fiscal year [5][6]. Business Highlights - Devonian completed preclinical studies to explore new applications of Thykamine™ for additional inflammatory diseases, including MASH and fibrosis [6]. - The company is focusing on a phase 2/3 study of Thykamine™ for pediatric mild-to-moderate atopic dermatitis [6]. - Devonian secured additional patent protection related to the mechanisms of action and other therapeutic applications of Thykamine™ [6]. - Pierre Labbé was appointed as a new board member, bringing extensive financial experience to the board [8][9]. About Thykamine™ - Thykamine™, developed from Devonian's SUPREX™ platform, is aimed at treating health conditions related to inflammation and oxidative stress, including ulcerative colitis and atopic dermatitis [13][14]. - The product has demonstrated anti-inflammatory, anti-oxidative, and immunomodulatory properties in various studies [13]. Company Overview - Devonian Health Group Inc. is a clinical stage pharmaceutical company focused on developing drugs for autoimmune inflammatory conditions, leveraging over 15 years of research [14][15]. - The company operates a state-of-the-art extraction facility in Québec and is publicly traded on the TSX Venture Exchange and OTCQB Venture Market [16].