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QUEBEC CITY - Devonian Health Group Inc. (TSXV:GSD; OTCQB:DVHGF), a clinical stage pharmaceutical company focused on inflammatory diseases with a market capitalization of $17.7 million, announced Friday multiple advances in its Thykamine development program alongside other corporate updates. According to InvestingPro analysis, the company appears undervalued at current trading levels.
The company reported successful validation of batch-to-batch consistency for its Thykamine product through analytical techniques including High Performance Liquid Chromatography-Mass Spectrometry and Nuclear Magnetic Resonance, demonstrating production reliability. InvestingPro data shows the company maintains a strong Financial Health Score of 3.42, rated as "GREAT," suggesting robust operational foundations.
Pre-clinical programs are underway to evaluate Thykamine’s effects on inflammation and fibrosis pathways, with studies in Metabolic Associated Steatohepatitis and pulmonary fibrosis expected to yield results in fall 2025. The company is also developing oral formulations to potentially expand into treatment areas like Ulcerative Colitis.
A U.S. survey of dermatologists indicated acceptance of Thykamine cream for pediatric patients with mild-to-moderate atopic dermatitis, according to the company.
Devonian also announced that its distribution agreement for Pantoprazole Magnesium, which represented approximately 10.6% of revenues for the fiscal year ended July 31, 2024, and 4.2% for the nine-month period ended April 30, 2025, will terminate on April 23, 2026. This follows the expiration of its Dexlansoprazole distribution license on April 17, 2025. Despite these upcoming changes, the company has demonstrated impressive revenue growth of 202.66% over the last twelve months, reaching $22.47 million, with a gross profit margin of 33.1%. Get deeper insights into Devonian’s financial metrics and growth potential with InvestingPro.
The company corrected information regarding its recent private placement, noting that gross proceeds totaled $2,362,999.80 rather than the previously reported $2,272,999.85. The offering consisted of 15,753,332 units at $0.15 per unit, with each unit comprising one common share and one purchase warrant exercisable at $0.20 per share for 24 months.
The information was provided in a press release statement from the company.
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