Devonian Health Group Inc. reports developments as a clinical-stage biopharmaceutical company focused on therapies for fibro-inflammatory diseases. Company news centers on Thykamine™, including preclinical data in MASH and pulmonary fibrosis models, anti-inflammatory and anti-fibrotic research, intellectual-property filings, manufacturing controls and its radiodermatitis prevention program.
Recurring updates also cover Devonian's cosmeceutical activities, its Quebec extraction facility and Altius Healthcare Group LP, a commercialization subsidiary that sells licensed prescription pharmaceutical products in Canada. Corporate news includes financial results, board and management changes, shareholder meeting outcomes, stock-option grants and capital-structure actions such as its common-share consolidation.
Devonian Health Group has successfully achieved reinstatement of its common shares trading on the TSX Venture Exchange (TSXV), effective April 30, 2025. This development follows the resolution of a temporary trading suspension.
Key developments:
- The Autorité des marchés financiers (AMF) issued a Failure-to-File Cease Trade Order on April 7, 2025
- The suspension was due to delayed filing of required interim financial documents for the quarter ending January 31, 2025
- Company submitted the required filings on April 15, 2025
- AMF revoked the cease trade order on April 16, 2025
The required submissions included quarterly financial statements, management's discussion and analysis, and related documentation. Trading will resume under the symbols GSD on TSXV and DVHGF on OTCQB. The company has expressed gratitude to shareholders for their patience and reinforced its dedication to maintaining high compliance standards.
Devonian Health Group (OTCQB: DVHGF) reported strong Q2 2025 financial results with revenue soaring 275% year-over-year to $8.28 million, primarily driven by DEXLANSOPRAZOLE distribution agreement. The company posted a net loss of $0.001 per share, improving from $0.01 loss per share in the previous year.
The company's cash position stood at $8.4 million with zero debt, down from $9.9 million at fiscal year start. Notable achievements include Thykamine™'s superior performance in anti-inflammatory studies versus corticosteroids, positive results in MASH mouse model studies, and new provisional patent applications for Thykamine™ in metabolic dysfunction-associated steatohepatitis and as an anti-fibrotic agent.
Devonian Health Group (TSXV: GSD; OTCQB: DVHGF) has received a failure to file cease trade order (FFCTO) from the Autorité des Marchés Financiers (AMF) due to delayed filing of required interim financial documents for the period ended January 31, 2025.
The FFCTO prohibits all trading of company securities in Canada, including trades through the TSX Venture Exchange. The required documents include interim financial statements, management's discussion and analysis, and related filings that were due by April 1, 2025.
Trading suspension became effective April 8, 2025. The company continues normal business operations and will seek FFCTO revocation once the required filings are submitted. Trading reinstatement requires both FFCTO revocation and Exchange approval following a compliance review.
Devonian Health Group (TSXV: GSD; OTCQB: DVHGF) has announced a delay in filing its Q2 2025 financial statements and MD&A beyond the April 1, 2025 deadline. The delay stems from recently discovered errors in previous financial statements that require amendments.
The company identified two key issues in its FY2024 statements:
- An unrecorded current tax expense and liability of $782,273
- An over-accrual of expenses amounting to $245,000
Additionally, selling expenses were incorrectly applied against revenues instead of being charged to administrative expenses, requiring reclassifications that will increase reported Distribution Revenues and Administrative Expenses by $1,245,477 and $271,754 for FY2024 and FY2023, respectively. The company expects to file both amended previous statements and current period financials within April 2025.
Devonian Health Group (TSXV: GSD; OTCQB: DVHGF), a clinical stage focused on inflammatory disease solutions, held its annual general meeting on March 20, 2025. Shareholders approved several key proposals:
- Election of eight directors including André P. Boulet and Dennis Turpin
- Appointment of MNP LLP as independent auditor for fiscal year ending July 31, 2025
- Amendment to the Option Plan to increase shares reserved for issuance to 20% of outstanding shares
- Renewal of the restricted share unit Rights Plan
- Approval of share consolidation up to 70:1 ratio to potentially broaden investor pool and meet minimum trading requirements for potential U.S. stock exchange listing
Devonian Health Group (TSXV: GSD; OTCQB: DVHGF) has filed a new patent application for Thykamine™ as an antifibrotic agent. The application is supported by in vivo data demonstrating the potential effectiveness of thylakoid extracts in treating and slowing fibrosis progression, while also down-regulating genes associated with fibrogenesis in various organs and tissues. According to Dr. André P. Boulet, Chief Scientific Officer, this filing aligns with the company's strategy to expand its patent portfolio and broadens Thykamine™'s potential therapeutic applications in treating fibrotic diseases.
Devonian Health Group (TSXV: GSD; OTCQB: DVHGF) announced positive results from gene analysis in a STAM™ mouse model study of Thykamine™. The oral treatment, administered at doses of 0.5, 5.0, and 50.0 mg/kg daily for three weeks, demonstrated significant downregulation of key genes associated with inflammatory diseases and fibrosis progression.
The study revealed substantial inhibitory effects on multiple genes: Act2 (57%), TGFβ (49.3%), Ctgf (44.2%), Ccl2 (77.28%), MMP9 (58.2%), Timp1 (73.5%), Ccr2 (70.8%), Socs3 (46.7%), SerpinF (62.1%), and IFNγ (73.1%). These results suggest Thykamine™'s potential as both an anti-inflammatory and antifibrotic medication for various chronic diseases affecting multiple organs. The results are scheduled for publication in a peer-reviewed scientific journal in 2025.
Devonian Health Group (TSXV: GSD; OTCQB: DVHGF) has filed a new provisional patent application for the use of Thykamine™ in treating metabolic dysfunction-associated steatotic liver disease (MASLD), specifically MASH. The application is supported by in vivo data demonstrating the potential effectiveness of thylakoid extracts in treating and slowing MASLD progression. This filing represents a strategic move to expand the company's patent portfolio and showcase the broader applications of their technology.
Devonian Health Group (TSXV: GSD; OTCQB: DVHGF) announced positive preclinical results for Thykamine™ in MASH (metabolic dysfunction-associated steatohepatitis) liver treatment. The study, conducted at SMC Laboratories in Japan, used the STAM mouse model to evaluate Thykamine's effects on liver disease progression.
The results showed that Thykamine™, administered orally at doses of 0.5, 5.0, and 50.0 mg/kg daily for 3 weeks, demonstrated significant hepatoprotective effects. The treatment lowered the NAFLD activity score (NAS) and decreased various markers including α-SMA, collagen types I and III, F4/F80, Ly-6G, and MARCO expression. These effects were comparable to Resmetirom, the first FDA-approved MASH management drug.
The complete MASH preclinical results are planned for publication in 2025.