PR Newswire

QUÉBEC, June 29, 2026

(all amounts are in Canadian dollars)

• Quarter ended April 30, 2026, net loss of $1.9 million dollars, ($0.70) per share
• Nine months ended April 30, 2026, net loss of $5.7 million dollars, ($2.07) per share
• Cash as of April 30, 2026, $0.7 million
• Company remains debt-free

QUÉBEC , June 29, 2026 /PRNewswire/ - 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 nine months ended April 30, 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

Strategic Update

Company expects to remain highly focused on the development of Thykamine ™  in prevention of Radiodermatitis associated to radiotherapy and in the treatment of Atopic Dermatitis in children. Furthermore, the Company will continue to investigate the mechanisms of action of Thykamine™ while advancing the evaluation of its potential as a novel therapeutic candidate for Metabolic Dysfunction-Associated Steatohepatitis (MASH) and fibrotic diseases.

Financial Highlights

Net Loss and Comprehensive Loss

For the three months ended April 30, 2026, the net loss and comprehensive loss was $1.9 million, $0.70 per share, compared to a net loss and comprehensive loss of $4.8 million, $1.94 per share, for the same period in 2025.

This decrease of $2.9 million in net loss and comprehensive loss is mainly related to the $4.8 million impairment loss of intangible assets and Goodwill related to the generic business (Altius) recorded in the prior fiscal year, following the expiry of the distribution agreement related to Dexlansoprazole which is partly offset by higher losses from operations for an amount of $1.9 million.

For the nine-month period ended April 30, 2026, the net loss and comprehensive loss was $5.7 million, $2.07 per share, compared to a net loss and comprehensive loss of $5.6 million, $2.28 per share, for the same period in 2025.

This increase of $0.1 million in net loss and comprehensive loss is primarily due to a higher loss from operations of $5.2 million mainly related to $6.5 million decrease in gross margin, related to the prior period sales only of Dexlansoprazole, partly offset by a decrease of $0.6 million in research and development, $0.5 million in selling and administrative and $0.2 million in financial expenses. The increase in net loss and comprehensive loss was also due to a decrease of $0.1 million in interest income and was partly compensated by $4.8 million lower other expenses related to the impairment of intangible assets and Goodwill related to the generic business (Altius) and $0.4 million lower income tax expenses.

Liquidity and Cash Flows

As of April 30, 2026, the Company had cash and cash equivalents totaling $0.7 million compared to $7 million as of July 31, 2025. For the nine months ended April 30, 2026, the Company used $8.4 million of cash flows for its operating activities (composed of $4.3 million net loss after items not affecting cash and $4.1 million net change in non-cash working capital items), which were partially offset by the cash inflows of $2 million from two private placements completed as well as warrants exercised of $0.2 million during the same period. The Company is debt-free.

To consult the Interim Consolidated Financial Statements and the Management's Discussion and Analysis of Financial Condition and Results of Operations for the three and the nine months ended April 30, 2026 and 2025, please click on the following link :https://groupedevonian.com/investor-center/financial-reports/  or see the Company profile on SEDAR+.

About Thykamine™

Thykamine™, the first pharmaceutical product issued from Devonian's SUPREX™ platform, is a highly innovative product for the prevention and treatment of health conditions related to inflammation and oxidative stress including ulcerative colitis, atopic dermatitis, psoriasis, rheumatoid arthritis, and other autoimmune disorders. The anti-inflammatory, anti-oxidative and immunomodulatory properties of Thykamine™ have been demonstrated by a considerable number of in vitro and in vivo studies as well as in a Phase IIa clinical study in patients with mild-to-moderate distal ulcerative colitis and in a large Phase II study in adult patients with mild-to-moderate Atopic Dermatitis. Both Thykamine™ and SUPREX™ platform are covered by patents issued in several North American, European, and Asian countries.

About Devonian

Devonian Health Group Inc. is a clinical stage pharmaceutical company specializing in the development of drugs for various auto-immune fibroinflammatory disease with novel therapeutic approaches to targeting unmet medical needs. Devonian's core strategy is to develop prescription drugs for the treatment of fibroinflammatory autoimmune diseases including but not limited to atopic dermatitis, radiodermatitis and ulcerative colitis.

Devonian is involved in the development of high-value cosmeceutical products leveraging the same proprietary approach employed with their pharmaceutical offerings. Devonian owns a commercialization unit, Altius Healthcare LP, focused on selling prescription pharmaceutical products in Canada, under licenses from brand name pharmaceutical companies.

Devonian Health Group Inc. was incorporated in 2015 and is headquartered in Quebec, Canada where it owns a state-of-the-art extraction facility. Devonian is traded publicly on the TSX Venture Exchange (the " Exchange ") ( TSXV: GSD ) and currently quoted on the OTCQB Venture Market ( OTCQB: DVHGF ).

For more information, visit www.groupedevonian.com .

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 to the Company transitioning toward a focused biopharmaceutical development strategy centered on Thykamine™, its radiodermatitis prevention Prospective Performance clinical study, its Atopic Dermatitis study in Children and pre-clinical studies, potential hepatoprotective effect preventing the progression of liver disease in MASH model, anti-inflammatory and anti-fibrotic effects with the potential to target the underlying pathology of the disease and thus halt the progression of the disease; and generally, the above "About Devonian" paragraph, all of which essentially describes the Company's outlook, constitute "forward-looking information" or "forward-looking statements" within the meaning of certain securities laws (collectively, "forward-looking statements"), and are based on expectations, estimates and projections as of the time of this press release. Such forward-looking statements may be identified by the use of words such as "intends", "believes", "expects", or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", or "will" be taken, occur or be achieved.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company 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 Canada. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

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.

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SOURCE Devonian Health Group Inc.