VANCOUVER – TheNewswire - May 21st, 2025 – Aequus Pharmaceuticals Inc. (TSX-V: AQS) (“Aequus” or the “Company”), a specialty pharmaceutical company focused on bringing healthcare solutions to Canadians through licensing and partnerships, today reports financial results for the quarter ended March 31st, 2025 (“First Quarter 2025”). Unless otherwise noted, all figures are in Canadian currency.

Financial Report Highlights

Aequus reported $226,545 in revenue during First Quarter 2025 compared to revenue of $52,555 generated during the same period in 2024 – an increase of $173,900, or 331%.  

Net losses decreased by 2.55% in First Quarter 2025 compared to the same period last year, with the First Quarter 2024 net loss of $645,101 versus a $662,088 loss in the three months ended March 31, 2024 (“First Quarter 2024”).

Highlights from the quarter are as follows:

• Sales and marketing costs during First Quarter 2025 were $39,281 compared to $442,719 in First Quarter 2024, a decrease of $403,438 or 91%. This decrease was mainly driven by the complete layoff of the sales and marketing team in Q4 2024.  

 

• General and administration and interest (“G”) expenses were $254,700 in first quarter of 2025 compared to $255,122 in first quarter of 2024, a decrease of $422.   The changes in GA expenses were mainly driven by general cost-cutting measures offset for higher loan-related expenses and rent expenses. 

 

• The Company recorded a loss before others income(loss) of $157,523 for Q1 2025 compared to a loss of 662,877 for Q1 2024. The increase net loss was mainly due to impairment related to a right-of-use asset of $485,200. 

 

ABOUT AEQUUS PHARMACEUTICALS INC.

Aequus Pharmaceuticals Inc. (TSX-V: AQS) is a specialty pharmaceutical company, with a focus on commercializing value-added products in specialty therapeutic areas in the Canadian market.

FORWARD-LOOKING STATEMENT DISCLAIMER

This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential” and similar expressions. Forward- looking statements are necessarily based on estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate. Forward-looking statements include but are not limited to statements relating to: the penetration and growth of ZIMED® PF following its launch. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Aequus, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements. In making the forward looking statements included in this release, the Company has made various material assumptions, including, but not limited to: obtaining regulatory approvals; general business and economic conditions; the Company’s ability to successfully out license or sell its current product and in-license or develop new products; the assumption that the Company’s current good relationships with third parties will be maintained; the availability of financing on reasonable terms; the Company’s ability to attract and retain skilled staff; market competition; the products and technology offered by the Company’s competitors; the impact of global events on the Company’s operations; and the Company’s ability to protect patents and proprietary rights. In evaluating forward looking statements, current and prospective shareholders should specifically consider various factors set out herein and under the heading “Risk Factors” in the Management Discussion and Analysis, a copy of which is available on Aequus’ profile on SEDAR+ at www.sedarplus.ca and as otherwise disclosed from time to time on Aequus’ SEDAR profile. Should one or more of these risks or uncertainties, or a risk that is not currently known to us materialize, or should assumptions underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward looking statements.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

CONTACT INFORMATION

Aequus Investor Relations

Email: investors@aequuspharma.ca

Phone: 604-336-7906