Devonian Health Group Reports First Quarter 2025 Financial Results and Grants Stock Options
Devonian Health Group (DVHGF) reported strong Q1 2025 financial results, with distribution revenue reaching $5.85 million, marking a 360% increase year over year. This growth was primarily driven by DEXLANSOPRAZOLE, their exclusive generic drug for GERD in the Canadian market. The company reported a reduced net loss of $0.362 million ($0.002 per share), compared to $0.721 million ($0.005 per share) in the previous year.
The company's cash position strengthened to $12.5 million as of October 31, 2024, up from $9.9 million, while maintaining debt at $2.1 million. Additionally, Devonian granted 1,535,715 stock options to independent directors at an exercise price of $0.19 per share, valid for ten years.
Devonian Health Group (DVHGF) ha riportato risultati finanziari solidi nel primo trimestre del 2025, con ricavi da distribuzione che hanno raggiunto 5,85 milioni di dollari, segnando un 360% di aumento rispetto all'anno precedente. Questa crescita è stata principalmente guidata da DEXLANSOPRAZOLE, il loro farmaco generico esclusivo per il GERD nel mercato canadese. L'azienda ha riportato una perdita netta ridotta di 362.000 dollari (0,002 dollari per azione), rispetto a 721.000 dollari (0,005 dollari per azione) dell'anno precedente.
Posizione liquidità dell'azienda si è rafforzata a 12,5 milioni di dollari al 31 ottobre 2024, in aumento rispetto ai 9,9 milioni di dollari, mantenendo il debito a 2,1 milioni di dollari. Inoltre, Devonian ha concesso 1.535.715 opzioni su azioni a direttori indipendenti a un prezzo di esercizio di 0,19 dollari per azione, valide per dieci anni.
Devonian Health Group (DVHGF) informó resultados financieros sólidos en el primer trimestre de 2025, con ingresos por distribución que alcanzaron $5.85 millones, marcando un 360% de aumento en comparación con el año anterior. Este crecimiento fue impulsado principalmente por DEXLANSOPRAZOLE, su medicamento genérico exclusivo para GERD en el mercado canadiense. La compañía reportó una pérdida neta reducida de $0.362 millones ($0.002 por acción), en comparación con $0.721 millones ($0.005 por acción) del año anterior.
La posición de efectivo de la compañía se fortaleció a $12.5 millones al 31 de octubre de 2024, en comparación con $9.9 millones, manteniendo la deuda en $2.1 millones. Además, Devonian otorgó 1,535,715 opciones sobre acciones a directores independientes a un precio de ejercicio de $0.19 por acción, válidas por diez años.
데보니안 헬스 그룹(DVHGF)은 2025년 1분기 강력한 재무 결과를 보고하며 배급 수익이 585만 달러에 도달해 전년 대비 360% 증가했다고 밝혔다. 이 성장은 캐나다 시장에서 GERD에 대한 독점 제네릭 약품인 DEXLANSOPRAZOLE에 의해 주로 이끌어졌다. 회사는 전년도에 비해 36.2만 달러의 감소된 순손실($0.002 주당)을 보고했으며, 지난해에는 $0.721 백만 달러($0.005 주당)였다.
회사의 현금 보유고는 2024년 10월 31일 기준으로 1,250만 달러로 강화되었으며, 이는 990만 달러에서 증가한 수치이고 부채는 210만 달러로 유지했다. 또한 Devonian은 독립 이사에게 주당 $0.19의 행사가로 1,535,715 주식 옵션을 부여했으며, 이는 10년 동안 유효하다.
Devonian Health Group (DVHGF) a rapporté des résultats financiers solides pour le premier trimestre 2025, avec des revenus de distribution atteignant 5,85 millions de dollars, marquant une augmentation de 360% par rapport à l'année précédente. Cette croissance a été principalement portée par DEXLANSOPRAZOLE, leur médicament générique exclusif pour le GERD sur le marché canadien. La société a rapporté une perte nette réduite de 362 000 dollars (0,002 dollar par action), contre 721 000 dollars (0,005 dollar par action) l'année dernière.
La position de trésorerie de la société s'est renforcée à 12,5 millions de dollars au 31 octobre 2024, en hausse par rapport à 9,9 millions de dollars, tout en maintenant une dette de 2,1 millions de dollars. De plus, Devonian a accordé 1 535 715 options d'achat d'actions à des administrateurs indépendants à un prix d'exercice de 0,19 dollar par action, valables dix ans.
Devonian Health Group (DVHGF) berichtete über starke Finanzzahlen im ersten Quartal 2025, wobei die Vertriebsumsätze 5,85 Millionen Dollar erreichten, was einem 360% Anstieg im Jahresvergleich entspricht. Dieses Wachstum wurde hauptsächlich durch DEXLANSOPRAZOLE, ihr exklusives Generikum für GERD auf dem kanadischen Markt, vorangetrieben. Das Unternehmen berichtete von einem reduzierten Nettoverlust von 362.000 Dollar (0,002 Dollar pro Aktie), im Vergleich zu 721.000 Dollar (0,005 Dollar pro Aktie) im Vorjahr.
Die liquidität des Unternehmens stärkte sich zum 31. Oktober 2024 auf 12,5 Millionen Dollar, ein Anstieg von 9,9 Millionen Dollar, während die Schulden bei 2,1 Millionen Dollar blieben. Darüber hinaus gewährte Devonian 1.535.715 Aktienoptionen an unabhängige Direktoren zu einem Ausübungspreis von 0,19 Dollar pro Aktie, die zehn Jahre gültig sind.
- Revenue increased 360% YoY to $5.85 million
- Net loss reduced by 50% to $0.362 million
- Cash position improved to $12.5 million from $9.9 million
- Exclusive generic rights for DEXLANSOPRAZOLE in Canadian market
- Company still operating at a loss ($0.002 per share)
- Outstanding debt of $2.1 million
- Potential dilution from 1.5M new stock options
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First quarter revenues increased by
360% year over year -
First quarter net loss for the quarter of
per share$0.00 2 - Grant of 1,535,715 stock options to independent directors
Management Comments
“Devonian continued to improve its financial position in the first fiscal quarter ended October 31, 2024,” said Luc Gregoire, President and CEO of Devonian. “While continuing our scientific activities for the continued development of Thykamine for atopic dermatitis (eczema), our quarter was highlighted by a
Business Highlights
- Altius Healthcare Inc. (“Altius”), the Company’s wholly owned subsidiary, continued to see a strong uptake with DEXLANSOPRAZOLE, the only authorized generic formulation of that pharmaceutical drug in the Canadian market for the treatment of gastroesophageal reflux disease (GERD).
- The Company continued to progress its preparation for its planned phase II/III clinical study for ThykamineTM in the treatment of mild to moderate atopic dermatitis (eczema) in pediatric patients, including preparatory work in the batch qualifications of the product to be used in our clinical studies.
Financial Highlights
-
Distribution revenue for the first quarter was
, up$5.85 million 360% year over year, driven by DEXLANSOPRAZOLE which launched earlier in 2024.
-
Net loss for the quarter was
, or$0.36 2 million per share, against the year-ago quarterly loss of$0.00 2 , or$0.72 1 million per share.$0.00 5
-
Cash and cash equivalents on October 31, 2024, was
, with debt of$12.5 million , as compared to cash of$2.1 million and debt of$9.9 million at the beginning of the fiscal year.$2.1 million
To consult the Interim Consolidated Financial Statements for the three month period ended October 31, 2024 and 2023, please click on the following link: https://groupedevonian.com/investor-center/financial-reports/ or see the Company profile on SEDAR+.
Grant of stock options
The Corporation also announced the granting of stock options to the independent directors of its board to purchase 1,535,715 common shares in the capital of the Corporation (the “Options”) at an exercise price of
About Devonian
Devonian Health Group is a clinical stage pharmaceutical company specializing in the development of drugs for various auto-immune inflammatory conditions with novel therapeutic approaches to targeting unmet medical needs. Devonian’s core strategy is to develop prescription drugs for the treatment of inflammatory autoimmune diseases including but not limited to ulcerative colitis and atopic dermatitis. Based on a foundation of over 15 years of research, Devonian’s focus is further supported by a US FDA set of regulatory guidelines favoring a more efficient drug development pathway for prescription botanical drug products over those of traditional prescription medicines.
Devonian is also involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings. Devonian also owns a commercialization subsidiary, Altius Healthcare Inc., focused on selling prescription pharmaceutical products in
Devonian Health Group Inc. was incorporated in 2015 and is headquartered in
For more information, visit www.groupedevonian.com
About Altius
Altius is a generic pharmaceutical distribution company with a primary focus of acquiring and in-licensing safe and innovative medicines and healthcare products designed to help people of all ages live healthier lives. Altius then leverages its expertise in the commercialization activities required to successfully launch and distribute these medicines in
Cautionary Note Regarding Forward-Looking Statements
All statements, other than statements of historical fact, contained in this press release including, but not limited to those relating, the impact of proposed optimizations at the Corporations’ projects, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, changes in accounting policies, the impact of inflation, the PCT patents for ThykamineTM might not be granted, and, generally, the above “About Devonian” and “About Altius” paragraphs, which essentially describes the Corporation’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that these assumptions will prove to be correct and there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the applicable securities regulators of
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241223493067/en/
Devonian Health Group Inc.
Mr. Luc Grégoire
President and CEO
Telephone: 1 (450) 979-2916
E-mail: investors@groupedevonian.com
Renmark Financial Communications Inc.
Ben Ozerkevich
Telephone: (416) 644-2020 or (212) 812-7680
E-mail: bozerkevich@renmarkfinancial.com
www.renmarkfinancial.com
Source: Devonian Health Group Inc.
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