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 (TSXV: GSD; OTCQB: DVHGF) announced their participation in Renmark Financial Communications Inc.’s Virtual Non-Deal Roadshow Series in Boston on June 26, 2024. The event will feature the latest investor presentation from Mr. Luc Gregoire, President & CEO of Devonian. Stakeholders, investors, and individuals are invited to register and attend the live session. The presentation will conclude with a live Q&A. live event registration is available, but the replay will be accessible on the company's investor website.
To register, use the provided link and ensure you have the latest version of Google Chrome for optimal connectivity.
Devonian Health Group reported a breakout third quarter for 2024 with a 1,162% year-over-year revenue increase, driven by the launch of DEXLANSOPRAZOLE, a medication for GERD, by its subsidiary, Altius Health Care. For the quarter ending April 30, 2024, the company posted a net loss of $0.374 million, or $0.002 per share, an improvement from the $1.5 million loss, or $0.01 per share, in the same period last year. Year-to-date, distribution revenue rose 583% to $8.68 million, while net losses were reduced to $2.306 million from $3.736 million. Cash reserves stood at $3.5 million, offset by $2.16 million in debt. Key business initiatives included preparations for a phase II/III clinical study of Thykamine for pediatric eczema and the appointment of André Boulet as Chairman of the Board and COO. Additionally, Devonian engaged Renmark Financial Communications for investor relations services.
Devonian Health Group announced the appointment of Dr. André P. Boulet as Chairman of the Board and Chief Operating Officer. Dr. Boulet, the founder of Devonian, has been a Board member since 2015 and the Chief Scientific Officer since August 2022. He brings extensive experience in drug development, regulatory affairs, market access, financing, and restructuring. Dr. Boulet holds multiple degrees, including a Ph.D. in physiology-endocrinology and has completed postdoctoral and health economics training. This strategic leadership change aims to enhance the integration of Devonian's development strategy and manage key stakeholder relationships. Outgoing Chairman David Baker will remain a Board member.
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