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Devonian Health Group ( (TSE:GSD) ) has provided an update.
Devonian Health Group reported a 36% increase in third-quarter revenues compared to the previous year, despite a net loss of $4.8 million, primarily due to a non-cash impairment loss following the expiration of their Dexlansoprazole distribution agreement. The company is advancing the development of its lead product candidate, Thykamine™, with new potential applications in inflammatory diseases, and has appointed Dr. André Boulet as CEO and Luc Gregoire as Executive Vice-President Strategy, indicating a strategic focus on expanding its product pipeline and strengthening its leadership.
More about Devonian Health Group
Devonian Health Group is a clinical stage pharmaceutical company based in Québec, Canada, specializing in the development of drugs for autoimmune inflammatory conditions. The company focuses on creating prescription drugs for diseases such as ulcerative colitis and atopic dermatitis, leveraging over 15 years of research. Devonian also develops cosmeceutical products and operates a commercialization subsidiary, Altius Healthcare Inc., which sells prescription pharmaceuticals in Canada.
Average Trading Volume: 13,283
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$20.75M
See more insights into GSD stock on TipRanks’ Stock Analysis page.