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HLS Therapeutics Q1 Net Loss Narrows on Lower Costs, Higher Revenue

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HLS Therapeutics (HLS.TO) first-quarter net loss narrowed on lower costs and higher revenue, the company said on Friday.

Net loss contracted to US$2.3 million, or US$0.07 per share, from a net loss of US$4.4 million, or US$0.14 per share, in the prior year period. The improvement was due to lower finance and related costs and higher revenue. Analysts polled by FactSet had forecast a loss of US$0.12 per share.

Revenue rose 2% to US$12.9 million, up 2% year-over-year, meeting the US$12.9 million forecast. HLS said Vascepa net sales grew 15% to US$4.8 million, the strongest quarterly growth since the second quarter of last year.

The company launched its LDL-cholesterol lowering drug Nilemdo in April, which it reported is off to "a positive start" with weekly sales running ahead of forecast.

HLS reaffirmed its 2026 consolidated revenue guidance of US$56 million to US$60 million, representing mid-single-digit percentage growth.

"Q1 results were in line with our expectations and consistent with our annual guidance," said chief executive Craig Millian. "The increase in revenue was driven by Vascepa, which had its strongest quarterly growth since mid-2025 and is a validation of the changes we made to strengthen the cardiovascular sales team last year."

HLS shares closed down $0.02, to $4.67, on Thursday on the Toronto Stock Exchange.

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