EDMONTON, Alberta, May 29, 2026 (GLOBE NEWSWIRE) -- Quest PharmaTech Inc. (TSX-V: QPT) ("Quest" or the "Company"), a Canadian based pharmaceutical company developing products to improve the quality of life through investee companies and proprietary technologies, today provided a corporate update and announced that it has filed its annual audited financial statements for the year ended January 31, 2026, Management's Discussion and Analysis and related filings on SEDAR+ (www.sedarplus.ca). The Company reported net income of $5.0 million, total liabilities of $1.3 million and total assets of $27.8 million, including a 26.6% equity interest in a Korean private company called OQPBIOM that was valued at $19.8 million as at January 31, 2026.
The Company also announced today the voluntary adoption of CSA pilot project 51-933 which permits certain qualifying exchange listed venture issuers such as Quest to volunteer to file financial statements and accompanying management's discussion and analysis (MD&A) on a semi-annual basis instead of quarterly. Pursuant to the proposal, the initial period for which Quest does not intend to file an interim report and related MD&A is for the three-month period ending April 30, 2026. As a result, the next interim financial report and MD&A that Quest will file will be for the semi-annual period ending July 31, 2026. Quest filed its annual financial statements and MD&A for the year ended January 31, 2026 on May 29, 2026. This news release is being filed pursuant to Coordinated Blanket Order 51-933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers.
Dr. Madi Madiyalakan, CEO of Quest, stated, "The voluntary adoption of this proposal will relieve the Company from the administrative and costly burden of filing its first and third quarter financial statements and MD&A and allow the Company to focus its efforts on creating shareholder value".
About Quest PharmaTech Inc.
Quest PharmaTech Inc is a publicly traded, Canadian based biopharmaceutical company (QPT: TSX-V) developing products to improve the quality of life. The Company has a 26.6% ownership interest in a Korean company called OQPBM. Quest also has a 23% ownership interest in OncoVent, a Chinese joint venture developing antibody-based immunotherapeutic products for cancer for the Greater China territory. Quest is also developing proprietary MAb AR 9.6 targeting truncated MUC16 as theranostic agents for cancer which is currently in late preclinical stage. To learn more, visit www.questpharmatech.com.
Forward Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as "may", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen. The forward-looking information contained herein is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation, the risk factors that can be found in the Company's securities law filings which have been filed under the Company's SEDAR+ profile at www.sedarplus.ca. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
For further information:
Dr. Madi R. Madiyalakan, CEO, Quest PharmaTech Inc.
Tel: (780) 448-1400,
E-mail: madi@questpharmatech.com
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.
