Star Metro - MedMira Reports Third Quarter Results FY2026

Corporate update

During Q3 FY2026, the Company continued to advance the regulatory approval process for its Multiplo^® Complete Syphilis (TP/nTP) Antibody Test (Multiplo^® TP/nTP). The Company received its initial feedback from Health Canada and remains confident that the new regulatory submission pathway will facilitate more efficient review timelines. Following the quarter, the second phase of clinical trials was completed, and the resulting data will be submitted to support the existing regulatory application. The test is also undergoing evaluation in multiple Canadian provinces to further demonstrate its clinical utility in guiding treatment decisions.

The publication of clinical performance data for the Multiplo^® TP/nTP has generated increased interest from stakeholders in international markets, including Australia and Latin America. The strong performance of the product further validates the Company's Rapid Vertical Flow (RVF) technology platform and supports future opportunities for specialized diagnostic products.

Demand for rapid infectious disease diagnostic tests continued to increase throughout 2026, contributing to broader market opportunities for the Company's products.

During the quarter, MedMira also initiated the regulatory approval process for its Health Canada-approved products in Australia under the Mutual Recognition Agreement between Canada and Australia, with similar initiatives underway in selected EMEA markets. These efforts are expected to accelerate market entry, expand the Company's international presence, and support long-term revenue growth.

Profit and Loss Highlights

• Revenue: The Company recorded revenues in Q3 FY2026 of $241,189 compared to Q2 FY2026 $24,503 and $59,117 in the same period last year. The Company recorded higher revenue due to sales in products and service revenue.

• Gross Profit: The Company recorded a gross profit in Q2 FY2026 of $176,409 compared to $18,132 in Q2 FY2026 and $43,011 in the same period last year.

• Operating expenses: The Company recorded for this quarter operating expenses of $441,218 compared to $423,180 in Q2 FY2026 and $772,776 in the same period last year.

• Net loss: The Company recorded a net loss in Q3 FY2026 of $483,660 compared to a net loss of $657,552 for the quarter last year.

Balance Sheet Highlights

• Assets: The Company recorded decreased of its assets by $176,935 between Q2 FY2026 and Q3 FY2026 which was mainly due to depreciation expense on its corporate assets.

• Liabilities: The Company's liabilities increased by $306,725 between Q2 FY2026 and Q3 FY2026. The Company's current liabilities increased by $263,164 which was mainly due to an increase in accounts payable and accrued liabilities.

• Loans in default decreased by $9,522 due to the fluctuations in the United States Dollar and the Swiss Franc. All 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 $365,147 or an increase of 2% 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 2025 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

F.Tremblay--SMC