Devonian Health Group Delays Financial Reporting Due to Restatement Needs

Devonian Health Group, Inc. ( (TSE:GSD) ) has provided an update.

Devonian Health Group Inc. announced a delay in filing its unaudited quarterly financial statements for the second quarter ended January 31, 2025, due to the need to amend and restate previous financial statements. The delay is caused by the discovery of errors in the 2024 financial statements, including unrecorded tax expenses and misclassified selling expenses. These adjustments will result in a net increase in the company’s net loss and current liabilities. Devonian is actively working with auditors to address these issues and expects to resume compliance with disclosure obligations by the end of April. The company remains committed to transparency and compliance with reporting standards.

More about Devonian Health Group, Inc.

Devonian Health Group Inc. is a clinical stage pharmaceutical company based in Québec, Canada, specializing in the development of drugs for autoimmune inflammatory conditions and high-value cosmeceutical products. The company focuses on novel therapeutic approaches to address unmet medical needs, leveraging over 15 years of research and supported by FDA guidelines for efficient drug development. Devonian also has a commercialization subsidiary, Altius Healthcare Inc., which sells prescription pharmaceutical products in Canada.

YTD Price Performance: 56.25%

Average Trading Volume: 20,149

Technical Sentiment Signal: Sell

Current Market Cap: C$37.06M

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