Innocan Pharma Posts Strong Q1 2026 Results*, With Revenue Surging 29.7% to US$6.47M

HERZLIYA, Israel and CALGARY, AB, May 27, 2026 /CNW/ -- Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTC: INNPF) (the "Company" or "Innocan"), a pharmaceutical technology company focusing on developing innovative drug delivery platform technologies, is pleased to announce its financial consolidated results for the three months ended March 31, 2026 and provide a company update.

Iris Bincovich, CEO of Innocan, said: "Innocan is making meaningful progress across both its pharmaceutical and cosmetics segments, with continued sales growth and sustained profitability. We believe this continues to build on the great potential of Innocan diversified Platform: Pharma • Veterinary • Wellness and investors should be paying attention to the potential upside this company has:

• Proprietary Injectable Platform- LPT-CBD enables exact dosing and ~4-week sustained release a differentiated non-opioid approach to chronic pain.
• 505(b)(2) Regulatory Path - FDA agreed to a 505(b)(2) abbreviated submission pending a scientific bridge -- accelerating route to approval
• US$271B Combined Addressable Market** - Human chronic pain (US$109B), animal pain (US$2.2B) and global beauty / personal care (US$161B) opportunity.
• Animal Health Near-Term Catalyst - CVM INAD number assigned; 3-year sponsor fee waiver. ~US$1.07B U.S. dog osteoarthritis opportunity.
• Cash-Generating Wellness Engine - FY25 revenues of US$26.6M at ~90% gross margins
• Defensible IP & World-Class Team- 31 granted & pending patents across 8 families.

In line with our strategic priorities, we have decided to defer the Company's proposed initial public offering in the United States to a later time and focus our resources on scaling our core operations in our core markets.

FISCAL 2026 THREE MONTHS SELECT FINANCIAL RESULTS (unaudited) 

*Consolidated

• Revenues totaled US$6.465 million for the three months ended March 31, 2026, representing a strong sequential increase of 29.7% compared to the fourth quarter of 2025 (US$4.99 million), reflecting continued momentum across the Company's operations. On a year-over-year basis, revenues decreased 17.07% compared to the same period in the prior year.
• Gross Profit totaled US$5.89 million representing a decrease of 17.2% on a reported basis for the three months ended March 31, 2026, and representing an increase of 32.97% compared to previous quarter, the last quarter of 2025 totaled $4.43.
• Gross Margin remained high at 91.1% despite the decline in revenues in three months ended March 31, 2026.
• Operating loss totaled US$0.786 million, representing an increase of 261.1% on a reported basis for the three months ended March 31, 2026, and representing a decrease of 14.67% compared to previous quarter, the last quarter of 2025 totaled $0.921.

(US$ in millions)	Three Months Ended 31 March		Percentage Change
	2026	2025
Revenues	6.465	7.796	(17.07 %)
Gross Profit	5.890	7.115	(17.2 %)
Gross Margin	91.1 %	91.3 %
Operating Profit (Loss)	(0.786)	0.489	(261.1 %)

• Revenues totaled US$6.465 million for the three months ended March 31, 2026, representing a strong sequential increase of 29.7% compared to the fourth quarter of 2025 (US$4.99 million), reflecting continued momentum across the Company's operations. On a year-over-year basis, revenues decreased 17.07% compared to the same period in the prior year.
• Gross Profit totaled US$5.89 million representing a decrease of 17.2% on a reported basis for the three months ended March 31, 2026, and representing an increase of 32.97% compared to previous quarter, the last quarter of 2025 totaled $4.43.
• Gross Margin remained high at 91.1% despite the decline in revenues in three months ended March 31, 2026.
• Operating loss totaled US$0.786 million, representing an increase of 261.1% on a reported basis for the three months ended March 31, 2026, and representing a decrease of 14.67% compared to previous quarter, the last quarter of 2025 totaled $0.921.

"We are very encouraged by the strong sequential revenue growth of nearly 30% in the first quarter of 2026, particularly given the continued volatility and uncertainty across global markets. These results reflect the resilience of B.I. Sky Global's business model, the dedication of our team, and the effectiveness of our strategic initiatives focused on operational execution and market expansion. While the broader market environment remains challenging and unstable, we continue to see positive momentum across our operations and remain focused on building long-term sustainable growth. We believe the significant quarter-over-quarter improvement demonstrates our ability to adapt, execute, and capture opportunities even during periods of economic uncertainty. We proactively developed and implemented strategic responses across all segments of the company and optimizing our operations, resulting in meaningful cost savings and improved gross profit performance. These initiatives have strengthened our operational efficiency and positioned the Company to outperform as market conditions" said Roni Kamhi, CEO of B.I. Sky Global and COO of Innocan Pharma.

The Company's full set of unaudited condensed interim consolidated financial statements for the three months ended March 31, 2026, and accompanying management's discussion and analysis can be accessed by visiting the Company's website at www.innocanpharma.com and its SEDAR+ profile at www.sedarplus.ca.

** Sources: Global Market Insights, Mordor Intelligence, Straits Research, Zion Market Research, CDC, British Journal of Anaesthesia, ERS, GMI Insights. Figures rounded.

About Innocan

Innocan is a pharmaceutical company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies based on advanced cannabinoids science, to treat various conditions to improve patients' quality of life. This segment includes its primary drug delivery technology, LPT-CBD loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: pain management and epilepsy. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment, Innocan is a 60% shareholder in the joint venture company, BI Sky Global Ltd., which company focuses on advanced targeted online sales. https://innocanpharma.com/

For further information, please contact:

For Innocan Pharma Corporation:
Iris Bincovich, CEO
[phone]
[phone]
[phone]
[email protected]

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary note regarding forward-looking information

Certain information set forth in this news release, including, without limitation, information regarding research and development, collaborations, the filing of potential applications with the FDA and other regulatory authorities, the potential achievement of future regulatory milestones, the potential for treatment of conditions and other therapeutic effects resulting from research activities and/or the Company's products, requisite regulatory approvals and the timing for market entry is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan's control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact Innocan can also be found in Innocan's public reports and filings which are available under Innocan's profile at www.sedarplus.ca.

Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

Logo - https://mma.prnewswire.com/media/2570689/Innocan_Pharma_Logo.jpg

SOURCE Innocan Pharma Corporation