Medicure Reports Financial Results for Quarter Ended June 30, 2025
Medicure (OTC:MCUJF) reported its Q2 2025 financial results, showing improved performance with total net revenue of $6.7 million, up from $5.2 million in Q2 2024. The company's net loss narrowed to $786,000 ($0.08 per share) from $1.2 million ($0.12 per share) year-over-year.
Key revenue contributors included Marley Drug business ($3.1 million), AGGRASTAT® ($1.7 million), ZYPITAMAG® ($1.7 million), Gateway Pharmacy ($764,000), and West Olympia Pharmacy ($328,000). The company invested $741,000 in R&D, focusing on a Phase 3 trial of MC-1 for PNPO deficiency. Cash position stood at $4.7 million as of June 30, 2025, down from $7.2 million at year-end 2024.
Medicure (OTC:MCUJF) ha comunicato i risultati finanziari del secondo trimestre 2025, registrando una performance migliore con ricavi netti totali pari a $6,7 milioni, in aumento rispetto a $5,2 milioni nel Q2 2024. La perdita netta si è ridotta a $786.000 ($0,08 per azione) rispetto a $1,2 milioni ($0,12 per azione) su base annua.
I principali contributi alle entrate provengono dal business Marley Drug ($3,1 milioni), AGGRASTAT® ($1,7 milioni), ZYPITAMAG® ($1,7 milioni), Gateway Pharmacy ($764.000) e West Olympia Pharmacy ($328.000). L'azienda ha investito $741.000 in R&D, concentrandosi su uno studio di fase 3 per MC-1 nella carenza di PNPO. La liquidità era pari a $4,7 milioni al 30 giugno 2025, in calo rispetto a $7,2 milioni alla chiusura del 2024.
Medicure (OTC:MCUJF) publicó sus resultados del segundo trimestre de 2025, mostrando una mejora con ingresos netos totales de $6,7 millones, frente a $5,2 millones en el Q2 de 2024. La pérdida neta se redujo a $786,000 ($0.08 por acción) desde $1.2 millones ($0.12 por acción) interanual.
Los principales generadores de ingresos incluyeron el negocio Marley Drug ($3.1 millones), AGGRASTAT® ($1.7 millones), ZYPITAMAG® ($1.7 millones), Gateway Pharmacy ($764,000) y West Olympia Pharmacy ($328,000). La compañía invirtió $741,000 en I+D, centrada en un ensayo de fase 3 de MC-1 para la deficiencia de PNPO. La posición de efectivo era de $4.7 millones al 30 de junio de 2025, desde $7.2 millones a finales de 2024.
Medicure (OTC:MCUJF)는 2025년 2분기 실적을 발표하며 총 순매출이 $6.7백만으로 2024년 2분기 $5.2백만에서 개선되었음을 보고했습니다. 순손실은 $786,000(주당 $0.08)으로 전년 동기 $1.2백만(주당 $0.12)에서 축소되었습니다.
주요 매출원은 Marley Drug 사업($3.1백만), AGGRASTAT®($1.7백만), ZYPITAMAG®($1.7백만), Gateway Pharmacy($764,000), West Olympia Pharmacy($328,000) 등이었습니다. 회사는 PNPO 결핍 치료제 MC-1의 3상 시험에 주력하며 $741,000을 연구개발(R&D)에 투자했습니다. 현금성 자산은 2025년 6월 30일 기준 $4.7백만으로, 2024년 말의 $7.2백만에서 감소했습니다.
Medicure (OTC:MCUJF) a publié ses résultats du deuxième trimestre 2025, montrant une amélioration avec un chiffre d'affaires net total de 6,7 M$, contre 5,2 M$ au T2 2024. La perte nette s'est réduite à 786 000 $ (0,08 $ par action) contre 1,2 M$ (0,12 $ par action) d'une année sur l'autre.
Les principaux contributeurs aux revenus incluent l'activité Marley Drug (3,1 M$), AGGRASTAT® (1,7 M$), ZYPITAMAG® (1,7 M$), Gateway Pharmacy (764 000 $) et West Olympia Pharmacy (328 000 $). La société a investi 741 000 $ en R&D, se concentrant sur un essai de phase 3 de MC-1 pour la déficience en PNPO. La trésorerie s'élevait à 4,7 M$ au 30 juin 2025, en baisse par rapport à 7,2 M$ à la clôture 2024.
Medicure (OTC:MCUJF) meldete seine Finanzergebnisse für das zweite Quartal 2025 und zeigte eine verbesserte Leistung mit einem Gesamtnettoumsatz von $6,7 Millionen, nach $5,2 Millionen im Q2 2024. Der Nettoverlust verringerte sich auf $786.000 ($0,08 je Aktie) gegenüber $1,2 Millionen ($0,12 je Aktie) im Jahresvergleich.
Wesentliche Umsatzträger waren das Marley Drug-Geschäft ($3,1 Millionen), AGGRASTAT® ($1,7 Millionen), ZYPITAMAG® ($1,7 Millionen), Gateway Pharmacy ($764.000) und West Olympia Pharmacy ($328.000). Das Unternehmen investierte $741.000 in F&E mit Fokus auf eine Phase-3-Studie von MC-1 bei PNPO-Mangel. Die Barreserve belief sich zum 30. Juni 2025 auf $4,7 Millionen, gegenüber $7,2 Millionen zum Jahresende 2024.
- Total revenue increased 28.8% to $6.7 million from $5.2 million year-over-year
- Net loss improved to $786,000 from $1.2 million in Q2 2024
- Marley Drug revenue grew 14.8% to $3.1 million from $2.7 million YoY
- ZYPITAMAG® revenue increased 21.4% to $1.7 million from $1.4 million YoY
- Adjusted EBITDA improved to negative $28,000 from negative $514,000 YoY
- Cash position decreased to $4.7 million from $7.2 million at year-end 2024
- AGGRASTAT® revenue declined slightly to $1.7 million from $1.8 million YoY
- Company remains unprofitable with negative EBITDA
- Higher cost of goods sold through Marley Drug impacted margins
- Increased selling expenses in retail pharmacy segment
WINNIPEG, MB / ACCESS Newswire / August 20, 2025 / Medicure Inc. ("Medicure" or the "Company") (TSXV:MPH)(OTC:MCUJF), a company focused on the development and commercialization of pharmaceuticals and healthcare products for patients and prescribers in the United States market, today reported its results from operations for the quarter ended June 30, 2025.
Quarter Ended June 30, 2025 Highlights:
Recorded total net revenue of
$6.7 million during the quarter ended June 30, 2025 compared to$5.2 million for the quarter ended June 30, 2024 and;Recorded total net revenue from the sale of AGGRASTAT® of
$1.7 million during the quarter ended June 30, 2025 compared to$1.8 million for the quarter ended June 30, 2024 and;Recorded total net revenue from the Marley Drug business of
$3.1 million ($908,000 from sales of ZYPITAMAG®, and$2.2 million from other pharmacy revenue) during the quarter ended June 30, 2025 compared to$2.7 million ($790,000 from sales of ZYPITAMAG®and$1.9 million from other pharmacy revenue) for the quarter ended June 30, 2024 and;Recorded total net revenue from the sale of ZYPITAMAG® of
$1.7 million ($751,000 t hrough the insured business, and$908,000 t hrough Marley Drug) during the quarter ended June 30, 2025 compared to$1.4 million ($654,000 t hrough insured business and$790,000 t hrough Marley Drug) for the quarter ended June 30, 2024 and;Recorded total net revenue from the Gateway Pharmacy business of
$764,000 during the quarter ended June 30, 2025 and;Recorded total net revenue from the West Olympia Pharmacy business of
$328,000 during the quarter ended June 30, 2025 and;Medicure invested
$741,000 in research and development during the quarter ended June 30, 2025, underscoring our commitment to advancing innovative therapies, such as the Phase 3 trial of Medicure's investigational product MC-1 for the treatment of PNPO deficiency and delivering long-term value to patients and shareholders, and;Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA1) for the quarter ended June 30, 2025 was negative
$28,000 compared to adjusted EBITDA of negative$514,000 for the quarter ended June 30, 2024 and;Net loss for the quarter ended June 30, 2025 was
$786,000 or$0.08 per share compared to a net loss of$1.2 million or$0.12 per share for the quarter ended June 30, 2024.
Financial Results
AGGRASTAT® revenues have remained consistent when compared to the same period in the previous year, as described above, despite competition from generic tirofiban hydrochloride.
The Marley Drug business contributed
ZYPITAMAG® through insured channels contributed
Revenue through Gateway Pharmacy during the quarter ended June 30, 2025 was
Adjusted EBITDA for the quarter ended June 30, 2025 was negative
Net loss for the quarter ended June 30, 2025 was
At June 30, 2025, the Company had unrestricted cash totaling
All amounts referenced herein are in Canadian dollars unless otherwise noted.
The full financial statements are available at www.sedar.com and on the Company's website at www.medicure.com.
Notes
(1) The Company defines EBITDA as "earnings before interest, taxes, depreciation and amortization" and Adjusted EBITDA as "EBITDA adjusted for non cash and non-recurring items". The terms "EBITDA" and "Adjusted EBITDA", as it relates to the three month period ended June 30, 2025 and 2024 results prepared using IFRS, do not have any standardized meaning according to IFRS.
Conference Call Info:
Topic: Medicure's Q2 2025 Results
Call date: Thursday, August 21, 2025
Time: 7:30 AM Central Time (8:30 AM Eastern Time)
Toll Free: 1 (888) 506-0062
International: 1 (973) 528-0011
Participant Access Code: 850331
Webcast: This conference call will be webcast live over the internet at the following link: https://www.webcaster4.com/Webcast/Page/2965/52887
You may request international country-specific access information by e-mailing the Company in advance. Management will accept and answer questions related to the financial results and operations during the question-and-answer period at the end of the conference call. A recording of the call will be available following the event at the Company's website.
About Medicure Inc.
Medicure is a company focused on the development and commercialization of pharmaceuticals and healthcare products for patients and prescribers in the United States market. The present focus of the Company is the marketing and distribution of AGGRASTAT® (tirofiban hydrochloride) injection and ZYPITAMAG® (pitavastatin) tablets in the United States, where they are sold through the Company's U.S. subsidiary, Medicure Pharma Inc. Medicure also operates Marley Drug Inc. ("Marley Drug"), a pharmacy subsidiary servicing all 50 states, Washington D.C. and Puerto Rico. Marley Drug® is committed to improving access to medications for all Americans together with exceptional customer service and free home delivery. Medicure also operates Gateway Medical Pharmacy ("Gateway"), located in Portland, Oregon in a medical office building near major transportation lines and multiple healthcare clinics and centers. In addition to regular customers, the pharmacy services multiple long-term care facilities and provides non-sterile compounding services. Medicure also operates West Olympia Pharmacy ("West Olympia"), located in Olympia, Washington in a medical office complex near multiple clinics. For more information visit www.marleydrug.com. For more information about Medicure please visit www.medicure.com. For additional information about AGGRASTAT®, please visit www.aggrastat.com or refer to the full Prescribing Information. For additional information about ZYPITAMAG®, please visit www.zypitamag.com or refer to the full Prescribing Information.
To be added to Medicure's e-mail list, please visit:
http://medicure.mediaroom.com/alerts
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information: Statements contained in this press release that are not statements of historical fact, including, without limitation, statements containing the words "believes", "may", "plans", "will", "estimates", "continues", "anticipates", "intends", "expects" and similar expressions, may constitute "forward-looking information" within the meaning of applicable Canadian and U.S. federal securities laws (such forward-looking information and forward-looking statements are hereinafter collectively referred to as "forward-looking statements"). Forward-looking statements, include estimates, analysis and opinions of management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors which the Company believes to be relevant and reasonable in the circumstances. Inherent in forward-looking statements are known and unknown risks, uncertainties and other factors beyond the Company's ability to predict or control that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements, and as such, readers are cautioned not to place undue reliance on forward-looking statements. Such risk factors include, among others, the Company's future product revenues, expected results, including future revenue from P5P, the likelihood of receiving a priority review voucher from the United State Food and Drug Administration, expected future growth in revenues, stage of development, additional capital requirements, risks associated with the completion and timing of clinical trials and obtaining regulatory approval to market the Company's products, the ability to protect its intellectual property, dependence upon collaborative partners, changes in government regulation or regulatory approval processes, and rapid technological change in the industry. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about: general business and economic conditions; the impact of changes in Canadian-US dollar and other foreign exchange rates on the Company's revenues, costs and results; the timing of the receipt of regulatory and governmental approvals for the Company's research and development projects; the availability of financing for the Company's commercial operations and/or research and development projects, or the availability of financing on reasonable terms; results of current and future clinical trials; the uncertainties associated with the acceptance and demand for new products and market competition. The foregoing list of important factors and assumptions is not exhaustive. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, other than as may be required by applicable legislation. Additional discussion regarding the risks and uncertainties relating to the Company and its business can be found in the Company's other filings with the applicable Canadian securities regulatory authorities or the US Securities and Exchange Commission, and in the "Risk Factors" section of its current Form 20F.
AGGRASTAT® (tirofiban hydrochloride) injection, ZYPITAMAG® (pitavastatin) tablets, and Marley Drug® are registered trademarks.
For more information, please contact:
Dr. Albert D. Friesen
Chief Executive Officer
Tel. 888-435-2220
Fax 204-488-9823
E-mail: info@medicure.com
www.medicure.com
Consolidated Statements of Financial Position
(expressed in thousands of Canadian dollars, except per share amounts)
June 30, | December 31, | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 4,739 | $ | 7,191 | ||||
Accounts receivable | 5,085 | 5,298 | ||||||
Inventories | 4,003 | 3,282 | ||||||
Prepaid expenses | 259 | 126 | ||||||
Total current assets | 14,086 | 15,897 | ||||||
Non-current assets: | ||||||||
Property and equipment | 1,199 | 955 | ||||||
Intangible assets | 8,705 | 9,354 | ||||||
Goodwill | 4,329 | 3,375 | ||||||
Other assets | 93 | 98 | ||||||
Total non-current assets | 14,326 | 13,782 | ||||||
Total assets | $ | 28,412 | $ | 29,679 | ||||
Liabilities and Equity | ||||||||
Current liabilities: | ||||||||
Accounts payable and accrued liabilities | $ | 8,548 | $ | 7,932 | ||||
Income taxes payable | 15 | 95 | ||||||
Current portion of lease obligations | 481 | 368 | ||||||
Acquisition payable | 368 | - | ||||||
Holdback payable | 82 | - | ||||||
Total current liabilities | 9,494 | 8,395 | ||||||
Non-current liabilities | ||||||||
Lease obligations | 611 | 506 | ||||||
Total non-current liabilities | 611 | 506 | ||||||
Total liabilities | 10,105 | 8,901 | ||||||
Equity: | ||||||||
Share capital | 81,014 | 81,014 | ||||||
Contributed surplus | 10,985 | 10,919 | ||||||
Accumulated other comprehensive loss | (5,321 | ) | (4,264 | ) | ||||
Deficit | (68,371 | ) | (66,891 | ) | ||||
Total equity | 18,307 | 20,778 | ||||||
Total liabilities and equity | $ | 28,412 | $ | 29,679 | ||||
Consolidated Statements of Net Loss and Comprehensive Loss
(expressed in thousands of Canadian dollars, except per share amounts)
Three months ended June 30, 2025 | Three months ended June 30, 2024 | Six months ended June 30, 2025 | Six months ended June 30, 2024 | |||||||||||||
Revenue, net | $ | 6,669 | $ | 5,165 | $ | 12,153 | $ | 10,859 | ||||||||
Cost of goods sold | 3,234 | 2,213 | 5,875 | 4,010 | ||||||||||||
Gross profit | 3,435 | 2,952 | 6,278 | 6,849 | ||||||||||||
Expenses | ||||||||||||||||
Selling | 2,133 | 1,834 | 3,962 | 3,808 | ||||||||||||
General and administrative | 1,260 | 1,368 | 2,359 | 2,577 | ||||||||||||
Research and development | 741 | 868 | 1,311 | 1,544 | ||||||||||||
4,134 | 4,070 | 7,632 | 7,929 | |||||||||||||
Finance (income) costs: | ||||||||||||||||
Finance income, net | (20 | ) | (36 | ) | (54 | ) | (87 | ) | ||||||||
Foreign exchange (gain) loss, net | 49 | 25 | 84 | 32 | ||||||||||||
29 | (11 | ) | 30 | (55 | ) | |||||||||||
Net loss before income taxes | $ | (728 | ) | $ | (1,107 | ) | $ | (1,384 | ) | $ | (1,025 | ) | ||||
Income tax expense | ||||||||||||||||
Current | 58 | 110 | 96 | 141 | ||||||||||||
Net loss | $ | (786 | ) | $ | (1,217 | ) | $ | (1,480 | ) | $ | (1,166 | ) | ||||
Other comprehensive income (loss): | ||||||||||||||||
Item that may be reclassified to profit or loss | ||||||||||||||||
Exchange differences on translation of foreign subsidiaries | (1,032 | ) | 212 | (1,057 | ) | 711 | ||||||||||
Other comprehensive income (loss), net of tax | (1,032 | ) | 212 | (1,057 | ) | 711 | ||||||||||
Comprehensive loss | $ | (1,818 | ) | $ | (1,005 | ) | $ | (2,537 | ) | $ | (455 | ) | ||||
Loss per share | ||||||||||||||||
Basic | $ | (0.08 | ) | $ | (0.12 | ) | $ | (0.14 | ) | $ | (0.11 | ) | ||||
Diluted | $ | (0.08 | ) | $ | (0.12 | ) | $ | (0.14 | ) | $ | (0.11 | ) | ||||
Consolidated Statements of Cash Flows
(expressed in thousands of Canadian dollars, except per share amounts)
For the six months ended June 30 | 2025 | 2024 | ||||||
Cash used in: | ||||||||
Operating activities: | ||||||||
Net loss for the period | $ | (1,480 | ) | $ | (1,166 | ) | ||
Adjustments for: | ||||||||
Amortization of property, plant and equipment | 235 | 209 | ||||||
Amortization of intangible assets | 1,054 | 897 | ||||||
Share-based compensation | 66 | 100 | ||||||
Finance income, net | (54 | ) | (87 | ) | ||||
Unrealized foreign exchange loss | 84 | 32 | ||||||
Income tax expense | 96 | 141 | ||||||
Change in the following: | ||||||||
Accounts receivable | 213 | 336 | ||||||
Inventories | (713 | ) | (870 | ) | ||||
Prepaid expenses | (128 | ) | (465 | ) | ||||
Accounts payable and accrued liabilities | 616 | 650 | ||||||
Interest received, net | 89 | 115 | ||||||
Income taxes paid | (151 | ) | (54 | ) | ||||
Cash used in operating activities | (73 | ) | (162 | ) | ||||
Investing activities: | ||||||||
Acquisition of intangible assets | - | (191 | ) | |||||
Acquisition of Gateway Pharmacy | (542 | ) | - | |||||
Acquisition of West Olympia Pharmacy | (1,635 | ) | - | |||||
Cash used in investing activities | (2,177 | ) | (191 | ) | ||||
Financing activities: | ||||||||
Repayment of lease liability | (202 | ) | (166 | ) | ||||
Cash used in financing activities | (202 | ) | (166 | ) | ||||
Decrease in cash and cash equivalents | (2,452 | ) | (519 | ) | ||||
Cash and cash equivalents, beginning of period | 7,191 | 6,369 | ||||||
Cash and cash equivalents, end of period | $ | 4,739 | $ | 5,850 | ||||
SOURCE: Medicure, Inc.
View the original press release on ACCESS Newswire
FAQ
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