- Devonian Health Group (TSXV: GSD; OTCQB: DVHGF) revenue increased by 36% in Q3 2025 compared to the same period in 2024.
- The company reported a net loss of $0.032 per share in the third quarter, primarily due to a $4.84 million non-cash impairment loss.
- Devonian's distribution agreement for Dexlansoprazole has ended, impacting its revenues significantly.
Devonian Health Group Inc. has announced its financial results for the third quarter that ended on April 30, 2025. The company reported a 36% increase in revenue compared to the third quarter of 2024, with distribution revenue hitting $7.36 million, spurred by sales of Dexlansoprazole.
The company, however, recorded a net loss of $4.8 million, or $0.032 per share. This loss was significantly influenced by a $4.84 million non-cash impairment loss attributed to the expiration of its distribution agreement for Dexlansoprazole, which accounted for 95% of the year-to-date revenue.
Despite the end of the Dexlansoprazole agreement, Devonian remains optimistic about its future. The operating cash flows generated by Altius revenues have continued to support the development progress of Thykamineâ„¢, its lead product candidate.
Business highlights include the completion of preclinical studies exploring new applications for Thykamineâ„¢ in treating inflammatory diseases such as MASH and fibrosis. Additionally, Devonian has appointed Dr. Andre Boulet as Chief Executive Officer and Luc Gregoire as Executive Vice-President Strategy.
For more detailed financial information, interested parties can review the Interim Consolidated Financial Statements for the three and nine-month periods ended April 30, 2025 and 2024 on Devonian's investor center page.
