The buyback program, valued at approximately 6.7 million Canadian dollars based on Monday’s closing price, is scheduled to commence on June 25. HLS Therapeutics has set a one-year window to complete these repurchases.

This move comes as the company faces a challenging market climate, with share prices sliding 7.3% to settle at 4.47 Canadian dollars by the end of Monday’s session. By reducing its total outstanding shares, the company seeks to manage its capital structure amid ongoing market volatility.