WILLOW BIOSCIENCES REPORTS 2024 FINANCIAL RESULTS AND UPDATE REGARDING SALE OF OPERATING SUBSIDIARY

SUNNYVALE, Calif., March 25, 2025 /PRNewswire/ - Willow Biosciences Inc. ("Willow" or the "Company") (TSX: WLLW) (OTCQB:CANSF), a biotechnology company focused on industrial manufacturing of ingredients is pleased to announce its financial and operating results for the three months and year ended December 31, 2024, and an update in respect of the disposition of Company's operating subsidiary (as announced via press release on March 14, 2025). Selected financial and operational information is outlined below and should be read with Willow's audited consolidated financial statements, management's discussion and analysis and annual information form for the year ended December 31, 2024, which are available on SEDAR+ at www.sedarplus.ca.

RESULTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

Financial Results

2024

2023

Revenue

$ 4,662

$ 1,172

General and administrative

3,503

5,598

Research and development

5,057

6,800

Share based compensation

297

420

Depreciation and amortization

1,386

1,831

Gain on sale of property, plant and equipment

(135)

-

Foreign exchange loss (gain)

7

(295)

Gain on fair value warrant liability

-

(23)

Foreign withholding tax expense

538

-

Net finance expense loss (income)

195

(125)

Loss before income taxes