Star Metro - MedMira Reports First Quarter Results FY2026

Corporate update

In Q1 FY2026, the Company received the Health Canada approval for its Reveal^® TP (Syphilis) rapid test. This major milestone allows the Company to offer the fastest rapid test approved in Canada to detect the antibodies against Syphilis. The aim is to provide a highly sensitive and reliable Point-of-Care testing solution in any setting to support the fight against the increasing rates of infectious cases. This approval marks a further milestone in the Company's growing product portfolio and validates MedMira's unique RVF Technology platform.

In addition, the Company commenced on its second phase of the clinical trials for its Multiplo^® Complete Syphilis (TP/nTP) Antibody Test (Multiplo^® TP/nTP) to support its already completed first phase for regulatory submission.

Major milestones

With the Health Canada approval received for MedMira's Reveal^® TP (Syphilis) rapid test in Q1 FY2026, the Company commenced with its distribution partners to gain provincial validations and implementation into the various provincial and private buying groups. The Reveal^® TP (Syphilis) rapid test complements its already HIV and TP/HIV Health Canada approved products and with it offers health care professionals the flexibility to choose the right test for their patient. MedMira is committed to expand its product offering in Canada with reliable, high quality rapid test that are truly rapid and can be utilized in any setting.

During FY2025, the Company completed its first clinical trial phase in Canada for its unique Multiplo^® Complete Syphilis (TP/nTP) Antibody Test (Multiplo^® TP/nTP). This independent publication was sponsored by the University of Ottawa, the Public Health Laboratory Canada and the Microbiology Laboratory in Winnipeg with Dr. Patrick O'Byrne as the principal investigator. Subsequent to Q1 FY2026, this evaluation and its clinical data have been published by BMC infectious diseases and outlined the high sensitivity and specificity of the Multiplo® TP/nTP and the significant effectiveness of this Point-of-Care product. The overall conclusion outlined that rapid tests may enable front-line health care workers to make an informed decision on immediate treatment or more importantly non-treatment. As a result, specific rapid tests may be a useful tool to efficiently support medical stewardship to combat antibiotic resistance, lowers healthcare costs and lead to a sustainable drug use. The data generated including with additional information, was submitted to Health Canada for initial review and further guidance.

In November 2025, the Company and its independent principal investigator entered into the second phase of clinical trials in Canada to provide additional patient data to support MedMira's current submission. The Company anticipates the completion of this in the first quarter of the calendar year 2026.

The Company has been working with its partners is on a structure to accelerate the commercial version of MedMira's unique MiROQ technology. MedMira's patented novel diagnostic system allows for accessible and efficient diagnostic tools for quantitative results in minutes. Especially in terms of cancer diagnostic this technology is able to make a significant impact on faster and more reliable diagnosis - when time is of essence.

At this stage, the Company is working on the commercial prototype and software development which will include AI as supporting element for future diagnostic. This strategic partnership will allow the Company to fast-track the development of this technology with the engagement of a strategic partner and with it allow an earlier market access. MiROQ enhances MedMira's RVF Technology and provides the opportunity to significantly expand its product offerings, market access and with it provide substantial value for the Company.

Profit and Loss Highlights

• Revenue: The Company recorded revenues in Q1 FY2026 of $54,208 compared to $61,723 in the same period last year.

• Gross Profit: The Company recorded a gross profit in Q1 FY2026 of $42,300 compared to $52,778 in Q1 FY2025.

• Operating expenses: The Company recorded for this quarter operating expenses of $635,122 compared to $1,111,283 in Q1 FY2025.

• Net (loss) income: The Company recorded a net loss of $813,134 compared to a loss of $1,300,549 for the same period last year.

Balance Sheet Highlights

• Assets: The Company recorded an decrease of its assets by $86,053 between Q4 FY2025 and Q1 FY2026 which was mainly due to depreciation of the company's building.

• Liabilities: The Company's liabilities increased by $727,081 between Q4 FY2025 and Q1 FY2026. The Company's current liabilities increased by $2,491,290 or 11% was mainly due to increase in advances from investors and increased current portion of debt.

• Loans in default increased by $626,504 compared to last quarter. All other long and short terms debts are currently under negotiation to restructure terms and conditions of repayment.

• Working Capital deficit: As a result of the changes noted above, the Company recorded a higher working capital deficit of $2,502,278 or 12% compared to last quarter.

The Company's financial statements and management's discussion and analysis are available on the Company's profile on SEDAR at www.sedar.com. For matters of going concern, reference is made to the Auditor's Emphasis of Matter statement in the fiscal year ended 2023 Auditors Report and note 2b in the audited financial statements which are also available on SEDAR.

About MedMira

MedMira is the developer and owner of Rapid Vertical Flow (RVF)^® Technology. The Company's rapid test applications built on RVF Technology provide hospitals, labs, clinics and individuals with instant diagnosis for diseases such as HIV and hepatitis C in just three easy steps. The Company's tests are sold under the Reveal^®, Multiplo^® and Miriad^® brands in global markets. MedMira's corporate offices and manufacturing facilities are located in Halifax, Nova Scotia, Canada and the Company has a sales and customer service office located in the United States. For more information visit medmira.com. Follow us on Twitter and LinkedIn.

This news release contains forward-looking statements, which involve risk and uncertainties and reflect the Company's current expectation regarding future events including statements regarding possible approval and launch of new products, future growth, and new business opportunities. Actual events could materially differ from those projected herein and depend on a number of factors including, but not limited to, changing market conditions, successful and timely completion of clinical studies, uncertainties related to the regulatory approval process, establishment of corporate alliances and other risks detailed from time to time in the company quarterly filings.

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

MedMira Contacts:

Markus Meile, CFO
Tel: 902-450-1588
Email: [email protected]

SOURCE: MedMira, Inc.

View the original press release on ACCESS Newswire

A.Harris--SMC