Aequus Reports First Quarter 2025 Financial Highlights

(TheNewswire)

VANCOUVER – TheNewswire- May 21 st , 2025 –Aequus Pharmaceuticals Inc. (TSX-V: AQS) (“Aequus” or the“Company”), a specialty pharmaceutical company focused on bringinghealthcare 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 inCanadian currency.

Financial Report Highlights

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

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

Highlights from the quarter are as follows:

• Sales and marketing costs during First Quarter 2025were $39,281 compared to $442,719 in First Quarter 2024, a decrease of$403,438 or 91%. This decrease was mainly driven by the completelayoff 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 $255,122in first quarter of 2024, a decrease of $422.   The changes in GAexpenses were mainly driven by general cost-cutting measures offsetfor 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. Theincrease net loss was mainly due to impairment related to aright-of-use asset of $485,200.

ABOUT AEQUUS PHARMACEUTICALS INC.

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

FORWARD-LOOKINGSTATEMENT DISCLAIMER

This release may containforward-looking statements or forward-looking information underapplicable Canadian securities legislation that may not be based onhistorical fact, including, without limitation, statements containingthe words “believe”, “may”, “plan”, “will”,“estimate”, “continue”, “anticipate”, “intend”,“expect”, “potential” and similar expressions. Forward-looking statements are necessarily based on estimates and assumptionsmade by us in light of our experience and perception of historicaltrends, current conditionsand expected future developments, as well as the factors we believeare appropriate. Forward-looking statements include but are notlimited to statements relating to: the penetration and growth of ZIMED® PF following its launch . Such statements reflect our currentviews with respect to future events and are subject to risks anduncertainties and are necessarily based upon a number of estimates andassumptions that, while considered reasonable by Aequus, areinherently subject to significant business, economic, competitive,political and social uncertainties and contingencies. Many factorscould cause our actual results, performance or achievements to bematerially different from any future results, performance, orachievements that may be expressed or implied by such forward-lookingstatements. In making the forward looking statements included in thisrelease, the Company has made various material assumptions, including,but not limited to: obtaining regulatory approvals; general businessand economic conditions; the Company’s ability to successfully outlicense or sell its current product and in-license or develop newproducts; the assumption that the Company’s current goodrelationships with third parties will be maintained; the availabilityof financing on reasonable terms; the Company’s ability to attractand retain skilled staff; market competition; the products andtechnology offered by the Company’s competitors; the impact ofglobal events on the Company’s operations; and the Company’sability to protect patents and proprietary rights. In evaluatingforward looking statements, current and prospective shareholdersshould specifically consider various factors set out herein and underthe heading “Risk Factors” in the Management Discussion andAnalysis, a copy of which is available on Aequus’ profile on SEDAR+at www.sedarplus.ca and as otherwise disclosed from time to time onAequus’ SEDAR profile. Should one or more of these risks oruncertainties, or a risk that is not currently known to usmaterialize, or should assumptions underlying those forward-lookingstatements prove incorrect, actual results may vary materially fromthose described herein. These forward-looking statements are made asof the date of this release and we do not intend, and do not assumeany obligation, to update these forward-looking statements, except asrequired by applicable securities laws. Investors are cautioned thatforward-looking statements are not guarantees of future performanceand are inherently uncertain. Accordingly, investors are cautioned notto put undue reliance on forward looking statements.

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

CONTACT INFORMATION

Aequus Investor Relations

Email: investors@aequuspharma.ca

Phone: 604-336-7906

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