Medexus Pharmaceuticals Inc - MEDXF STOCK NEWS

Medexus Pharmaceuticals receives FDA approval for expanded indication of IXINITY for pediatric patients under 12 years of age with hemophilia B, based on Phase 3/4 data showing safety and efficacy.

Medexus Pharmaceuticals (TSX: MDP) (OTCQX: MEDXF) announced its operating and financial results for the third fiscal quarter ended December 31, 2023. The company reported a revenue of $25.2 million and $87.1 million for the three- and nine-month periods, with a decrease of $3.5 million and an increase of $7.6 million compared to the same periods in 2022. The adjusted EBITDA was $3.2 million and $15.1 million for the three- and nine-month periods, showing a decrease of $2.0 million and an increase of $3.8 million compared to the prior year. The available liquidity was $8.2 million as of December 31, 2023, and the operating income was $1.6 million and $10.0 million for the three- and nine-month periods, with a decrease of $1.3 million and an increase of $5.1 million compared to the previous year. The net loss was $0.5 million and $1.0 million for the three- and nine-month periods, indicating an improvement of $1.0 million and $4.6 million compared to the same periods in 2022. Adjusted net loss showed an improvement as well, with $0.5 million and $1.1 million for the three- and nine-month periods, compared to $0.9 million and $7.3 million for the same periods in 2022.

Medexus Pharmaceuticals (TSX: MDP) (OTCQX: MEDXF) will host a conference call on February 8, 2024, to discuss its third fiscal quarter results. Financial statements and MD&A will be filed on February 7, 2024. The call will be available via webcast and replay, with access details provided.

Medexus Pharmaceuticals (TSX: MDP) (OTCQX: MEDXF) announces Health Canada's acceptance for review of their new drug submission for terbinafine hydrochloride nail lacquer to treat fungal nail infections, aiming for a commercial launch in the first half of calendar year 2025. The Canadian topical fungicides market is estimated to be C$88 million annually, positioning the product for significant market potential.

Medexus Pharmaceuticals (TSX: MDP) (OTCQX: MEDXF) announced a 9.4% increase in fiscal Q2 2024 revenue over fiscal Q2 2023, reaching $30.3 million. Adjusted EBITDA rose by 26.2% to $5.3 million, while operating income increased by $1.7 million. However, the net loss improved by $1.6 million. Medexus also secured $37.5 million in liquidity, utilizing it to repay convertible debentures and complete a bought-deal public offering.

Medexus Pharmaceuticals plans to host a conference call on November 9, 2023, to discuss its second fiscal quarter results. The company expects to file its financial statements and MD&A on November 8, 2023. Participants can join the call through dial-in numbers or access the live webcast on Medexus's corporate website. A replay of the call and webcast will be available for a limited time.

All director nominees reelected and all other company proposals approved by shareholders

Medexus Pharmaceuticals expects to fully satisfy convertible debentures in cash at maturity in October 2023 with the help of a $18 million increase in BMO's term loan commitment. The company's cash position and liquidity will be improved, allowing them to make the maturity date payment entirely in cash if they choose to do so. The weighted average interest rate on the credit facilities is 8.68%, which is lower than the previous rate of 9.02%.

Medexus Pharmaceuticals presents Phase 3/4 study data on IXINITY at NHF Bleeding Disorders Conference 2023. The study evaluated the safety and efficacy of IXINITY as a prophylactic treatment in pediatric patients with hemophilia B. Prophylaxis with IXINITY showed low annualized bleeding rates, effective control of bleeding episodes, consistent PK, and a consistent safety profile.