Quarter ended January 31, 2026, net loss of $2.2 million dollars, ($0.81) per share
Six months ended January 31, 2026, net loss of $3.8 million dollars, ($1.37) per share
Cash as of January 31, 2026, $1.3 million; Company remains debt-free
Reverse split of our common shares at ratio of sixty to one effected on January 22, 2026
Thykamine™ radiodermatitis prevention pivotal clinical study as a first priority for the Company
Company continues preclinical studies for Thykamine™ in MASH and Fibrosis, furthering the understanding of Thykamine™'s mechanism of action
Thykamine™: A New Player in the Field of Anti-Inflammatory Drugs published in the peer reviewed journal, Biomedicines.
QUÉBEC, March 25, 2026 /CNW/ - Devonian Health Group Inc. ("Devonian" or the "Company") (TSXV:GSD) (OTCQB:DVHGF), a clinical-stage biopharmaceutical company focused on developing innovative therapies targeting fibro-inflammatory diseases, today highlighted its financial and operating results for the three and six months ended January 31, 2026.
''We are pleased with the continued momentum to execute on our priorities and readiness to advance our pipeline'', said Dr. André P. Boulet, PhD, Chief Executive Officer and president of Devonian.
Corporate Highlights
Board Appointment and CFO
On November 26, 2025, the Company announced the appointment of Mr. Pierre Labbé, CPA as Board Director. Mr. Labbé was appointed Chair of the Audit Committee effective February 2, 2026.
On February 2, 2026, the Company announced the appointment of Mr. Dennis Turpin, CPA as Chief Financial Officer. Mr. Turpin remains on the Board of directors. He succeeded Ms. Viktoria Krasteva.
Strategic Update
Following the expiry of the Altius Healthcare LP ("Altius") distribution agreements, the Company is transitioning toward a focused biopharmaceutical development strategy centered on Thykamine™. The Company is actively evaluating strategic alternatives for the Altius business while pursuing financing options to support its pipeline.
Steatohepatitis Associated with Metabolic Dysfunction
Metabolic dysfunction–associated steatotic liver disease progresses to metabolic dysfunction-associated steatohepatitis ("MASH"), which features inflammation, hepatocellular bloating, and subsequent worsening of fibrosis. If left untreated, MASH can progress to cirrhosis of the liver and hepatocellular carcinoma, liver failure, and death. Devonian recently completed a study investigating the effects of Thykamine™ on liver disease progression in the widely used STAM™ mouse model of MASH/fibrosis at SMC Laboratories in Japan1. In this model, diabetic mice were fed into a high-fat diet and rapidly developed fatty liver disease caused by inflammation and fat accumulation in the organ. Resmetirom, a drug approved by the U.S. FDA for the management of MASH, was used as a positive control at an oral dose of 3.0 mg/kg once daily for 3 weeks. Thykamine™ administered orally, at doses of 0.5 mg/kg, 5.0 mg/kg ...
