New Risk • Jun 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.5x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Large one-off items impacting financial results. Market cap is less than US$100m (CA$40.0m market cap, or US$28.7m). Tillkännagivande • Apr 15
LSL Pharma Group Inc., Annual General Meeting, Jun 19, 2026 LSL Pharma Group Inc., Annual General Meeting, Jun 19, 2026. Tillkännagivande • Jan 28
LSL Pharma Group Inc. Successfully Obtained U.S. FDA Certification for the Manufacturing of Ophthalmic Ointments for Commercialization in the United States LSL PHARMA GROUP INC. announced that it has secured certification from the U.S. Food and Drug Administration (FDA) for its ophthalmic ointment manufacturing activities. The ophthalmic product Avaclyr, manufactured by LSL Pharma's subsidiary, Steri-Med Pharma Inc. ("Steri-Med"), and to be marketed by U.S.-based Fera Pharmaceuticals LLC, has received FDA approval for commercialization in the United States. The certification of the Steri-Med's manufacturing site allows LSL Pharma to manufacture and potentially commercialize additional ophthalmic ointment products for commercialization in the U.S. market. The certification follows a successful FDA inspection of Steri-Med's facility, confirming full compliance with current Good Manufacturing Practices (cGMP). The Company believes this regulatory milestone significantly strengthens its competitive positioning, enhances future revenue diversification, and establishes a clear pathway for sustainable growth and long-term value creation for shareholders. With this FDA certification, LSL Pharma is well positioned to leverage its upcoming plan to significantly expand its manufacturing capacity to support U.S. market demand for specialized ophthalmic product development and manufacturing projects. Reported Earnings • Nov 26
Third quarter 2025 earnings released: CA$0.01 loss per share (vs CA$0.003 loss in 3Q 2024) Third quarter 2025 results: CA$0.01 loss per share (further deteriorated from CA$0.003 loss in 3Q 2024). Revenue: CA$7.58m (up 89% from 3Q 2024). Net loss: CA$1.18m (loss widened 206% from 3Q 2024). Tillkännagivande • Nov 19
LSL Pharma Group Inc. (TSXV:LSL) acquired Laboratoire Du-Var Inc. for CAD 3.2 million. LSL Pharma Group Inc. (TSXV:LSL) acquired Laboratoire Du-Var Inc. for CAD 3.2 million on November 17, 2025.
For the 12-month period ended on August 31, 2025, Du-Var generated Adjusted EBITDA of $0.5 million, from $4.4 million of revenues. As at August 31, 2025, Du-Var had total assets of $6.9 million.
LSL Pharma Group Inc. (TSXV:LSL) completed the acquisition of Laboratoire Du-Var Inc. for CAD 3.2 million on November 17, 2025. Tillkännagivande • Oct 29
Health Canada Grants LSL Pharma Group Inc. to Commercialize Six New Sterile Ophthalmic Solutions LSL Pharma Group Inc. announced that Health Canada has approved its first six (6) sterile ophthalmic solutions for the treatment of glaucoma and allergies. The commercial launch of these products is expected to begin in the second quarter of 2026. This approval is a significant strategic milestone for LSL Pharma, strengthening its presence in the sterile ophthalmic pharmaceuticals sector and demonstrating the Company's ability to successfully complete complex projects in compliance with Canadian regulatory standards. These six (6) ophthalmic products have an aggregate commercial markets of $66 million in Canada (IQVIA 2025 data). The addition of these eye care products and their launch are part of LSL Pharma's overall strategy to diversify its offering of high value-added products targeting specialized therapeutic segments. Tillkännagivande • Oct 16
LSL Pharma Group Inc. Announces Board Changes LSL Pharma Group Inc. announced the appointment of Mr. Louis Laflamme as chairman of the board of directors and the appointment of Mr. Noureddine Mokaddem as a new member of the board of directors. A member of the board since April 2025, Mr. Laflamme succeeds Mr. François Roberge as independent Chairman of the Board and brings to this new role extensive experience and understanding of the Company's activities and vision. In connection with his appointment, Mr. Laflamme, who no longer provides services to the Company under the Services Agreement referred to in the news release dated March 31, 2025, is now considered by the Company as an independent director. Mr. Roberge will remain a member of the Board of Directors while continuing to exercise his leadership as President and Chief Executive Officer of LSL Pharma.Mr. Noureddine Mokaddem has extensive experience with several private and publicly traded companies, primarily in Europe and North America and joins the Company's Board as an independent director. Among other things, he will help strengthen the Company's strategic governance and support its long-term growth ambitions.Mr. Laflamme is a member of the CPA Order and holds a BBA from Laval University. He is President and CEO of Antégrade Medical Inc., an innovative company dedicated to the development of medical devices for cardiology applications using the antegrade approach to treat patients with advanced cardiovascular diseases that are currently difficult to treat. Previously, he was President, Chief Executive Officer, and Director of OpSens Inc. from 2013 to 2024, when the company was sold. During this period, OpSens revolutionized certain practices in interventional cardiology with medical devices. He currently serves on the boards of directors of MY01 Inc., Icentia, and EMKA SCIREQ Inc.Mr. Mokaddem, engineer, is an international development specialist with nearly 42 years of professional experience in the Kingdom of Morocco, Africa, and North America. He invests primarily in the industrial, mining, real estate, energy, and other sectors, as well as in partnership projects. In Morocco and internationally, he has successfully completed all stages of implementation for a wide variety of projects, from feasibility studies to the start-up of production units of various sizes, including the maintenance of complex units, functional departments, and distribution networks. During his career, he has also been involved in numerous private and publicly traded companies. Founder, President & CEO and Chairman of the Board of Directors of Aya Gold & Silver from 2010 to 2020. Since July 2024, he has been a member of the Board of Directors of Abcourt Mines. Tillkännagivande • Sep 02
LSL Pharma Group Inc. announced that it has received CAD 2.275 million in funding LSL Pharma Group Inc. announced a non-brokered private placement of 5,687,500 units at a price of CAD 0.40 or gross proceeds of CAD 2,275,000 on September 2, 2025.Each Unit consists of one class A share of the Corporation and one Common Share purchase warrant. Each Warrant entitles the holder, subject to adjustments in certain cases, to purchase one Common Share at a price of CAD 0.70 for a period of 24 months following the closing of the Financing. The transaction included participation from François Roberge, President and CEO and Mario Paradis, a director of the Corporation have subscribed for 187,500 Units and 125,000 Units respectively pursuant to the Financing. In connection with this Financing, the company paid to a finder dealing at arm's length with the Corporation, finder's fees for a total of CAD 23,750 in cash and issued 59,375 finder's warrants. Each Finder's Warrant entitles the holder to purchase one Common Share at a price of CAD 0.70 for a period of 12 months following the closing of the Financing. Each Unit, Common Share, Warrant, Warrant Share, Finder's Warrant and Common Share issued upon the exercise of the Finder's Warrant will be subject to a four month hold period under the applicable securities laws. The Financing is subject to the regulatory approval of the TSX Venture Exchange. Reported Earnings • Aug 26
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: CA$7.22m (up 72% from 2Q 2024). Net loss: CA$389.0k (loss narrowed 25% from 2Q 2024). New Risk • May 09
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.2x net interest cover). High level of non-cash earnings (24% accrual ratio). Minor Risk Market cap is less than US$100m (CA$45.6m market cap, or US$32.8m). Tillkännagivande • Apr 09
LSL Pharma Group Inc., Annual General Meeting, Jun 27, 2025 LSL Pharma Group Inc., Annual General Meeting, Jun 27, 2025. Tillkännagivande • Mar 31
LSL Pharma Group Appoints Louis Laflamme to the Board of Directors LSL PHARMA GROUP INC announce the appointment of Louis Laflamme as a member of the board of directors. Mr. Louis Laflamme is Entrepreneur in Residence for Medtech Ventures Fund of Sectoral Asset Management Inc. Previously, he was President, CEO and director of OpSens Inc. from January 2013 to March 2024, when it was acquired by Haemonetics for $345 million. During this period, the company revolutionized certain practices in interventional cardiology with medical instruments. From November 2005 to December 2012, he served as Chief Financial Officer and Corporate Secretary of OpSens. He also serves on the board of directors of SiliCycle, MY01 Inc., Icentia and EMKA SCIREQ Inc. He also held leadership positions in other technology companies. Mr. Laflamme is a member of the Order of Chartered Professional Accountants of Quebec. He holds a Bachelor's degree in Business Administration from Laval University. New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 40% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 26% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Minor Risk Market cap is less than US$100m (CA$43.3m market cap, or US$30.2m). Tillkännagivande • Dec 20
LSL Pharma Group Inc. announced that it has received CAD 1 million in funding LSL Pharma Group Inc. announced a private placement of unsecured promissory notes for a gross proceeds of CAD 1 million on December 18, 2024. The transaction included participation from new investor, Luc Mainville. The Notes are unsecured, non-convertible, bear interest at a blended rate of 13% and mature on January 1, 2028. The company has also issued 2,000,000 warrants in connection with the Notes, with each Warrant entitling the holder to purchase one common share of the Corporation at a price equal to the greater of CAD 0.70 or the closing price of the company on December 20, 2024 , for a period of 36 months following the closing of the Financing. The Notes may be redeemed by the Corporation at any time on or after January 1, 2026. Each Warrant and Warrant share will be subject to a four-month hold period under the applicable securities laws. The Financing is subject to the TSX Venture Exchange's approval. There were no finders involved with the Financing. Tillkännagivande • Dec 19
LSL Pharma Group Inc. (TSXV:LSL) acquired Dermolab Pharma Ltd. for CAD 4 million. LSL Pharma Group Inc. (TSXV:LSL) acquired Dermolab Pharma Ltd. for CAD 4 million on December 17, 2024. The total consideration for the transaction includes (i) the renewal of Dermolab's operating line of credit and term loan totaling a maximum of $3 million and (ii) a cash payment of $955,000 on closing, subject to post-closing adjustments. The cash portion of the purchase price was financed by the proceeds of the CAD 2 million concurrent notes offering. For the period ending August 31, 2024, Dermolab Pharma Ltd. reported total revenue of CAD 10.1 million and EBITDA of CAD 0.5 million. As of August 31, 2024, Dermolab Pharma Ltd. reported total assets of CAD 7.9 million. Robert Boisvert, Dermolab's prior President has been retained for an interim period. The transaction is accretive, expected to boost revenues by approximately 40%.
LSL Pharma Group Inc. (TSXV:LSL) completed the acquisition of Dermolab Pharma Ltd. for CAD 4 million on December 17, 2024. Tillkännagivande • Dec 18
LSL Pharma Group Inc. Appoints Guy Paul Allard as Corporate Secretary LSL PHARMA GROUP INC announced the appointment of Guy Paul Allard as Vice President, Legal Affairs and Corporate Secretary. A seasoned lawyer specializing in corporate and securities law for over 25 years, Mr. Allard has practiced in national and global law firms and has previously held similar executive in-house positions in the pharmaceutical industry. New Risk • Dec 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$5.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$5.7m free cash flow). Earnings have declined by 26% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (40% increase in shares outstanding). Market cap is less than US$100m (CA$47.4m market cap, or US$33.8m). Tillkännagivande • Nov 07
LSL Pharma Group Announces Completion of Steri-Med Pharma's Phase 1 Production Scale Up LSL Pharma Group Inc. announced having completed the initial phase of production scale-up at its Steri-Med Pharma ("Steri-Med") plan. The initial phase of production scale up has contributed to more than double the plant capacity compared to 2023 levels, and enabled Steri-Med to win new international contracts for its existing products. The second phase of production scale-up will include the installation of a new fully automated sterile ointment production line (the "Second Line"). The Second Line is expected to be delivered during the first quarter of 2025 and to be operational early 2026, following installation and validation. Reported Earnings • Aug 27
Second quarter 2024 earnings released: CA$0.007 loss per share (vs CA$0.038 loss in 2Q 2023) Second quarter 2024 results: CA$0.007 loss per share (improved from CA$0.038 loss in 2Q 2023). Revenue: CA$4.19m (up 106% from 2Q 2023). Net loss: CA$516.0k (loss narrowed 83% from 2Q 2023). Tillkännagivande • Jul 15
LSL Pharma Group Inc. announced that it has received CAD 2.4508 million in funding On July 15, 2024, LSL Pharma Group Inc closed the transaction. The company issued 2,400,000 units at a price of CAD 0.4 per Unit for total gross proceeds of CAD 960,000 in its final tranche. The Corporation was thus able to raise with both tranches a total of $2,450,800 in Financing. In connection with this second and final tranche of the Financing, the Corporation paid to finders dealing at arm’s length with the Corporation, finders’ fees for a total of CAD 14,600 in cash and issued 36,500 finders’ warrants. Each Finder’s Warrant entitles the holder to purchase one (1) Common Share at a price of CAD 0.70 for a period of 18 months following the closing date. Tillkännagivande • Jun 06
LSL Pharma Group Inc. announced that it expects to receive CAD 3 million in funding LSL Pharma Group Inc announced a non-brokered private placement financing of 7,500,000 units at issue price CAD 0.4 per share for gross proceeds CAD 3,000,000 on June 5, 2024. Each Unit consist of one class A share of the Corporation and one Common Share purchase warrant. Each Warrant will entitle the holder, subject to adjustments in certain cases, to purchase one Common Share at a price of CAD 0.70 for a period of 24 months following the closing of the Financing. Each issued Unit, Common Share, Warrant, Warrant Share, Finder’s Warrant and Common Share issued upon the exercise of the Finder’s Warrant will be subject to a four month hold period under the applicable securities laws. The Financing and the Units for Debts are subject to the regulatory approvals, including the TSX Venture Exchange. Tillkännagivande • May 18
LSL Pharma Group Inc., Annual General Meeting, Jun 28, 2024 LSL Pharma Group Inc., Annual General Meeting, Jun 28, 2024. Tillkännagivande • Apr 24
LSL Pharma Group Inc. announced that it has received CAD 6.479426 million in funding from Alfera Pharmaceuticals, LLC On April 24, 2024, LSL Pharma Group Inc. closed the transaction. The company has now issued 9,485,000 units at an issue price of CAD 0.40 per unit for the gross proceeds of CAD 3,794,000 in its second and final tranche closing bringing the total gross proceeds raised from the private placement to CAD 6,479,426. The company has now issued total 16,198,565 units for total gross proceeds of CAD 6,479,426 in the transaction. In connection with this transaction, the company paid to a finder dealing at arm’s length with the company, finders’ fees for a total of CAD 30,000 in cash and issued 75,000 finders’ warrants. Each Finder’s Warrant entitles the holder to purchase one common share at a price of CAD 0.70 for a period of 18 months following the closing of the transaction. Each issued unit, Common Share, Warrant, Warrant Share, Finder’s Warrant and Common Share underlying the Finder’s Warrants will be subject to a four month hold period under the applicable securities laws. The transaction is subject to the final approval of the TSX Venture Exchange. The transaction included participation from new investor Alfera Pharmaceuticals, LLC for 1,250,000 Units for an aggregate subscription price of CAD 500,000. Its direct or indirect holding, inclusive of Della Fera’s holding, on a non-diluted basis, was 0.04% prior to the financing and reaches now 1.20% following the financing while, on a partially diluted basis, was of 0.32% prior to the financing and reaches now 2.57%. Tillkännagivande • Apr 23
LSL PHARMA GROUP INC Appoints Diane Beaudry and Mario Paradis to Its Board of Directors LSL PHARMA GROUP INC announced the appointment of Diane Beaudry and Mario Paradis to its Board of Directors. New Risk • Mar 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (20% increase in shares outstanding). Market cap is less than US$100m (CA$37.9m market cap, or US$27.9m). Tillkännagivande • Mar 07
LSL Pharma Group Inc. announced that it expects to receive CAD 3.5 million in funding LSL Pharma Group announced a non brokered private placement financing of Units for the minimum of 6,250,000 units and maximum of 8,750,000 at an issue price of CAD 0.40 per unit for the minimum gross proceeds of CAD 2,500,000 and maximum of CAD 3,500,000 on March 7, 2024. Each unit will consists of one class A common share and one common share purchase warrant. Each Warrant will entitle the holder, subject to adjustments in certain cases, to purchase one Common Share at a price of CAD 0.70 for a period of 36 months following the closing of the Financing. the Corporation may pay finders’ fees of up to 5% of the gross proceeds raised from investors introduced to the Corporation by a finder, payable in cash; and finders’ warrants of up to 5% of the number of Units issued to investors introduced to the Corporation by a finder. Each Finder’s Warrant will entitle the holder, subject to adjustments in certain cases, to purchase one Common Share at a price of CAD 0.70 for a period of 18 months following the closing of the Financing. Each issued Unit, Common Share, Warrant, Warrant Share, Finder’s Warrant and Common Share issued upon the exercise of the Finder’s Warrant will be subject to a four month hold period under the applicable securities laws. The Financing and the Units for Debts are subject to the regulatory approvals, including the TSX Venture Exchange. Tillkännagivande • Dec 07
LSL Pharma Group Inc., Annual General Meeting, Jan 26, 2024 LSL Pharma Group Inc., Annual General Meeting, Jan 26, 2024. Reported Earnings • Dec 03
Third quarter 2023 earnings released: CA$0.009 loss per share (vs CA$0.023 loss in 3Q 2022) Third quarter 2023 results: CA$0.009 loss per share (improved from CA$0.023 loss in 3Q 2022). Revenue: CA$2.51m (down 4.9% from 3Q 2022). Net loss: CA$762.3k (loss narrowed 48% from 3Q 2022). Tillkännagivande • Sep 01
LSL Pharma Group Inc. Announces Executive Changes, Effective August 31, 2023 LSL Pharma Group announced the departure of Sylvain Richer, Chief Financial Officer, for personal reasons and to seek new opportunities, effective August 31, 2023. The Company has begun a process to find a successor. Untilthen, François Roberge will assume the interim and Mr. Richer will remain available to ensure a smooth transition. New Risk • Aug 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$4.2m free cash flow). Revenue has declined by 6.3% over the past year. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (CA$33.7m market cap, or US$24.9m). New Risk • Jul 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 7.6% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Market cap is less than US$100m (CA$35.4m market cap, or US$26.7m). Board Change • Mar 03
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Director Luc Mainville was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 
