Thank you, Ali, and good morning to all on the call. We appreciate your interest and participation in today's call.

Joining me today on the Q3 2025 financial statements call is Dr. Neil Owens, President and Chief Operating Officer, and Haaris Uddin, Medicure's Chief Financial Officer.

The net revenue for Q3 2025 was $8.2 million, an increase from the previous year, where net revenue was $5.2, largely due to the addition of two pharmacies. The company recorded a net loss of $1.4 million or 13 cents per share compared to a net income of $680,000 or 7 cents per share for the quarter ending September 30th, 2024.

The net loss is about the same as the non-cash items, including amortization, plus the research investment. Medicure's investment of $717,000 in research and development during the quarter and underscore our commitment to advancing innovative therapies, such as the Phase 3 trial of Medicure's investigational drug MC-1 for the treatment of PNPO deficiency and delivering long-term value to patients and shareholders.

Just to remind shareholders the five focuses of our business are: holding sales and profits of AGGRASTAT, growing ZYPITAMAG revenue and profit, growing the Marley Drug and online pharmacy business, development of MC-1 for the PNPO deficiency, and a new chemical entity related to Medicure's historic drug development, a large market potential. Now I'd like to turn the call over to CFO Haaris Uddin to review and provide some color on the Q3's financial statements.

Thank you, Dr. Friesen.

A couple of quick items to note before I start: all dollar figures are in Canadian dollars unless otherwise noted by each presenter. As a reminder, you can obtain a complete copy of our financial statements for the quarter ended September 30th, 2025, along with previous versions of our financial statements on the investors page of our website.

In addition, a copy of all financial statements and management's discussion and analysis can also be obtained from sedarplus.ca. I will now provide some key highlights of our financial performance for the 3-month period ended September 30th, 2025.

Total net revenue for the quarter ended September 30th, 2025 was $8.2 million compared to $5.2 million for the quarter ended September 30th, 2024. Net revenues earned from AGGRASTAT during this period totaled $1 million, a decrease from the prior year, where the net revenue from AGGRASTAT was $1.9 million.

The decrease in AGGRASTAT revenue during the current period is a result of a lower volume of units sold as a result of increased competition from generic tirofiban hydrochloride. Net revenue earned from ZYPITAMAG through the traditional insured channel during the 3-month period ended September 30th, 2025 totaled $769,000, which is an increase from the $553,000 of net revenue earned during the period ended September 30th, 2024.

The increase in net revenue during the current period is related to a decrease in the number of returns during the current period, in addition to consistent utilization of the product through insurance formularies. It is important to note that ZYPITAMAG sales through Marley Drug are excluded from this number.

For Marley Drug, net revenue during the current quarter totaled $3.3 million, an increase from the $2.7 million earned from Marley Drug during the 3-month period ended September 30th, 2024. The increase in Marley Drug sales during the current period is due to an increased volume of product sold.

Net revenue attributable to ZYPITAMAG through Marley Drug was $917,000 during the current period, an increase from the 3-month period ended September 30th, 2024, where ZYPITAMAG sales through Marley Drug were $815,000. On March 11th, 2025, the company acquired Gateway Pharmacy.

Revenue for Gateway Pharmacy for the quarter ended September 30th, 2025 was $890,000. In addition, on June 16th, 2025, the company acquired West Olympia Pharmacy.

Revenue earned from West Olympia Pharmacy during the current quarter was $2.2 million. The company intends on offering ZYPITAMAG through both pharmacies in subsequent quarters, in addition to other product offerings, which have increased revenue at Marley Drug.

Switching over to cost of goods sold, AGGRASTAT cost of goods sold for the quarter ended September 30th, 2025 totaled $667,000, a decrease from the prior year, where cost of goods sold during the same period totaled $719,000. The decrease in cost of goods sold is directly correlated with a lower volume of product sold during the current period.

ZYPITAMAG cost of goods sold for the current quarter totaled $232,000, an increase from the period ended September 30th, 2024, where cost of goods sold for ZYPITAMAG totaled $177,000. Included within cost of goods sold for ZYPITAMAG in the current period is $77,000 related to product sold to customers and $156,000 from amortization of the ZYPITAMAG intangible asset.

Marley Drug cost of goods sold totaled $1.9 million during the period ended September 30th, 2025, an increase from the period ended September 30th, 2024, where cost of goods sold totaled $1.5 million. The increase in cost of goods sold during the current period is a result of a higher volume and the nature of products sold both through the mail order and e-commerce platforms at the pharmacy.

Gateway Pharmacy's cost of goods sold during the 3-month period ended September 30th, 2025 was $608,000. West Olympia's cost of goods sold during the 3-month period ended September 30th, 2025 was $1.9 million.

As both pharmacies were acquired during the current year, there was no cost of goods sold recorded for either Gateway Pharmacy or West Olympia Pharmacy during the 3-month period ended September 30th, 2024. Selling expenses totaled $2.2 million for the quarter ended September 30th, 2025, an increase from 3-month period ended September 30th, 2024, where selling expenses were $2 million.

Selling expenses increased in the current period as a result of the acquisitions of Gateway Pharmacy and West Olympia Pharmacy during the current year. General and administrative expenses totaled $1.2 million for the quarter ended September 30th, 2025, consistent with the prior year, where general and administrative expenses were also approximately $1.2 million.

The slight decrease in general and administrative expenses in the current period is a result of lower professional fees in the current period, in addition to lower share-based compensation expense, which is based on the vesting schedule of previously granted stock options to key employees and directors of the company. Research and development expenses for the quarter ended September 30th, 2025 totaled $717,000 compared to $795,000 during the same quarter in the prior year.

The decrease in research and development expenses during the current period is primarily due to the timing of expenditures. The company recorded a finance expense net of $2,000 during the current period in comparison to a finance income net of $18,000 during the 3-month period ended September 30th, 2024.

The finance income recorded in the current period primarily related to interest income earned offset by bank charges, interest on the company's lease obligations and holdback payable, and a non-cash accretion expense on the company's acquisition payable liability. The company recorded a foreign exchange loss of $21,000 during the quarter ended September 30th, 2025 in comparison to a foreign exchange loss of $46,000 during the quarter ended September 30th, 2024.

The change in foreign exchange loss relates to change in the US dollar exchange rate during the respective years. Adjusted EBITDA for the quarter ended September 30th, 2025 was -$597,000 compared to an adjusted EBITDA of -$467,000 during the quarter ended September 30th, 2024.

The decrease in adjusted EBITDA during the current period is due to an increase in operating loss, which primarily relate to lower net revenue of AGGRASTAT, higher cost of goods sold through the company's retail pharmacy operating segment, which now includes Marley Drug, Gateway Pharmacy, and West Olympia Pharmacy, offset by higher ZYPITAMAG revenue through both the insured channel and through Marley Drug, and lastly, higher revenue through the company's retail pharmacy operating segment. As at September 30th, 2025, the company had cash totaling approximately $4.1 million, a decrease from December 31st, 2024, where the company had $7.2 million of cash held.

The decrease in cash balance of the company is primarily attributable to the acquisitions of both Gateway Pharmacy and West Olympia Pharmacy during the current year. The company does not have any debt on its books.

I want to remind you that there will be an opportunity at the end of today's call for you to ask questions regarding the financial results of the company as a whole. With that, I would like to turn the call over to our President and Chief Operating Officer, Dr.

Neil Owens, for some additional commentary regarding our operations.

Thank you, Haaris, and good morning to everyone. I'd like to start with some updates on our ZYPITAMAG business.

Total sales of ZYPITAMAG in Q3 2025 were $1.7 million, which was a 21% increase from $1.4 million in Q3 2024. Sales of ZYPITAMAG sold through Marley Drug grew by 12.5% from $815,000 in Q3 2024 to $917,000 in Q3 2025.

However, awareness of ZYPITAMAG still remains low, and the opportunity remains very large. In order to grow sales further, we have refocused our field-based sales team and adjusted our prescriber and consumer marketing approach to try and grow further and faster.

Selling ZYPITAMAG through Marley Drug has proven to be an effective approach due to the pharmacy's customer service, the absence of the typical hurdles put in place by insurance companies, and transparency in pricing. In addition, due to removing wholesaler and coverage gap fees, low PBM reimbursement, and product returns, selling through Marley Drug provides a much higher gross margin.

We've also found that adherence rates for patients taking ZYPITAMAG is more than 40% higher through Marley Drug compared to other retail pharmacies because of our service and engagement strategies. This helps for reducing our attrition rates and increasing revenue.

Net revenue through insured channels and the standard retail pharmacy model increased from $553,000 in Q3 2024 to $770,000 in Q3 2025 due to an increase in purchasing from wholesalers and changes in the mix of our insured customers. Overall, ZYPITAMAG represents a priority for growth through efforts of our sales and marketing team.

Further on our Marley Drug business, net revenue grew by 22% from $2.7 million in Q3 2024 to $3.3 million in Q3 2025. This is due to an increase in ZYPITAMAG sold through the pharmacy business, as well as generic medication sales, and notably the sale of Brenzavvy tablets, which is an accessible alternative SGLT2 inhibitor to Jardiance and Farxiga.

Medicure is working on leveraging Marley Drug's reputation for customer service, unique branded solutions, and national distribution to continue to drive growth. Challenges we've faced include competition and an increase in cost of goods, which impacts our margins.

We plan to seek additional partnerships and branded products to offer through our e-commerce website. Recently, Medicure announced the acquisition of Gateway Medical Pharmacy and West Olympia Pharmacy.

These additional pharmacy subsidiaries immediately grow our customer and prescriber base for both ZYPITAMAG and other branded products. Combined, they contributed $3.1 million in revenue in Q3.

In terms of our AGGRASTAT business, net revenue fell from $1.9 million in Q3 2024 to $1 million in Q3 2025 due to generic tirofiban competition, lower demand, and product returns. Volume of product units sold in Q3 2025 was 6% lower than in Q2 2025.

Medicure remains the only manufacturer of the 3.75 mg bolus vial format, which is typically administered before the infusion unit. We continue to provide support to our US hospital accounts and nurture brand loyalty.

Medicure's R&D focus is primarily on its Phase 3 study to seek approval of MC-1 as the first FDA-approved therapy for patients with PNPO deficiency, which is a rare pediatric disease leading to seizures and is ultimately fatal if untreated. If successful, use of Medicure's legacy product MC-1 could lead to a priority review voucher, which can be redeemed or sold and provides significant value.

Enrollment is currently ongoing with patients receiving treatment with MC-1, and Medicure has received Fast Track designation for MC-1 for its intended indication, which will facilitate the review of Medicure's FDA new drug application. The Phase 3 study has had two patients complete the 12-month study, and we are targeting the end of 2025 to have all patients start enrollment, which will be approximately 10 to 15 patients in total.

Medicure recently presented the study design and baseline steady-state pyridoxal 5'-phosphate levels for enrolled patients at the 54th Child Neurology Society Conference, led by principal investigator Dr. Phillip Pearl, who is the Director of Epilepsy and Clinical Neurophysiology at Boston Children's Hospital.

Medicure recently announced, as well, that it has signed an asset purchase agreement for the acquisition of the patents and intellectual property related to the discovery of new chemical entities that can be developed for therapeutic use. We believe that these new chemical entities hold promise to provide improvements over existing lead compounds in alignment with the treatment of diseases being targeted by Medicure and could provide significant long-term value upon completion of all required preclinical and clinical studies and regulatory approval.

Medicure has yet to announce the clinical therapeutic target, however, has started preclinical testing and API development of the lead compound. Overall, net revenue in Q3 2025 was $8.2 million compared to $5.2 million in Q3 2024 due to an increase in ZYPITAMAG and Marley Drug revenue and the acquisitions of Gateway Medical and West Olympia Pharmacies.

Because of lower AGGRASTAT revenue and higher Marley Drug cost of goods, as well as R&D expenses of $717,000 in Q3 2025, we're reporting an adjusted EBITDA of -$597,000 and a net loss of $1.4 million. Medicure remains debt-free, and to reiterate, the company's short-term goals are focused on growing ZYPITAMAG, growing Marley Drug and our pharmacy business, maintaining AGGRASTAT sales, and development of new products; short term, seeking the approval of MC-1 to receive the priority review voucher; and long term, the development of our new intellectual property for diseases with large market potential.

With that, I would like to turn the call back to Dr. Friesen for final comments.

Thank you, Dr. Owens, and thank you, Haaris.

My goal and that of our board, management, and staff is to continue to build this business with a stable, long-term outlook to generating value of our shareholders. I want to express my sincere appreciation to the outstanding team of employees we've been blessed with.

Thank you, our shareholders, for your continued support and interest. Moderator, I'll turn back to you to lead us through the Q&A portion.

Again, thank you to all on the call, to our shareholders, and wishing you a great day.