Medexus Pharmace Stock Price, News & Analysis

Medexus Pharmaceuticals (TSX: MDP; OTCQX: MEDXF) will participate in the 2023 Bloom Burton & Co. Healthcare Investor Conference scheduled for April 25-26, 2023, in Toronto, Ontario.

The company’s presentation, featuring Ken d’Entremont, CEO, and Marcel Konrad, CFO, will take place on April 25 at 9:30 AM ET. Attendees can engage in in-person one-on-one meetings during the event.

A live and recorded webcast of the presentation will be available on the Investors—News & Events section of Medexus’s corporate website. The focus of Medexus is on innovative treatments in hematology, auto-immune diseases, and allergy.

Medexus Pharmaceuticals announced preliminary revenue estimates for the fiscal year 2023, expecting to exceed US$107 million, an all-time record, with fiscal Q4 2023 revenue projected at US$28 million to US$28.5 million, marking a year-over-year increase of at least 38.1%.

This growth is driven by strong sales in several products: IXINITY saw positive trends in new patient conversions; Rasuvo maintained its leading position in the US branded methotrexate market; Rupall demonstrated sustained demand growth; and Gleolan achieved its best month in fiscal year 2023.

Additionally, the company announced a board update, appointing Mike Mueller as chair after Peter van der Velden's departure, reflecting a stable leadership transition as Medexus continues to progress.

Medexus Pharmaceuticals (OTCQX: MEDXF) has gained Canadian rights to commercialize terbinafine hydrochloride nail lacquer, supplied by Polichem. This product, used for treating fungal nail infections, will be submitted for Health Canada approval later this year. The Canadian fungicides market is estimated at C$88 million annually. CEO Ken d’Entremont indicated that the product would bolster revenues and leverage their existing commercial platform, complementing their leading product, Rupall®. Medexus will pay Polichem a low double-digit royalty on net sales and has structured the deal to minimize initial costs.

Medexus Pharmaceuticals (OTCQX: MEDXF) announced a new senior secured credit agreement with BMO, comprising a US$35 million term loan and a US$3.5 million revolving loan for working capital. The agreement, maturing in March 2026, includes a US$20 million uncommitted accordion feature. CFO Marcel Konrad highlighted the non-dilutive nature of the financing and the company's recent revenue growth and improving profitability. The proceeds will repay existing facilities due in July 2023, with new borrowings set at an initial interest rate of 8.58%, lower than the previous rates of 11.33% and 8.78%.

Medexus Pharmaceuticals announced its participation in the 35th Annual Roth Conference scheduled for March 12-14, 2023, in Dana Point, California. The company's presentation, featuring CEO Ken d’Entremont and CFO Marcel Konrad, is set for March 14 at 1:00 PM PT (4:00 PM ET). Attendees can join the live and recorded webcast on the company’s investor relations page. Medexus specializes in innovative treatments for rare diseases, focusing on hematology, auto-immune diseases, and allergies.

For more details and registration, visit this link.

Medexus Pharmaceuticals (OTCQX: MEDXF) announced strong fiscal Q3 2023 results, with record revenue of $28.7 million, marking a 35% year-over-year increase and a 4% quarter-over-quarter increase. This growth is attributed to net sales across its product portfolio, including full recognition of Gleolan sales in the U.S. Adjusted EBITDA reached $5.2 million, up $3.3 million year-over-year. While operating profit improved to $2.9 million, the company reported a net loss of $(1.5) million. Cash and cash equivalents stood at $9.3 million. Management anticipates ongoing investments in working capital and is exploring options to manage near-term liabilities.

Medexus Pharmaceuticals has appointed Harmony P. Garges, MD MPH, and Menassie Taddese, MBA, to its board of directors, effective February 6, 2023. These additions aim to enhance the board's medical and financial expertise, particularly in the United States. Dr. Garges, with 18 years in pharmaceutical leadership and experience as Chief Medical Officer at ViiV Healthcare, will contribute insights into medical affairs and regulatory matters. Mr. Taddese brings over 26 years of biopharmaceutical experience, focusing on management and finance. Their appointments reflect Medexus's commitment to strong leadership as it seeks growth opportunities.

Medexus Pharmaceuticals (OTCQX: MEDXF) announces a partnership with the Quebec government for public reimbursement of Cuvposa (glycopyrrolate oral solution) effective February 1, 2023. This medication, aimed at reducing chronic severe drooling in pediatric patients aged 3 to 18 with neurological conditions like cerebral palsy, will now be accessible to a broader range of patients. Notably, the incidence of cerebral palsy in Canada is projected to rise, increasing the need for effective treatments. Medexus expresses commitment to improving quality of life for affected children and their families through enhanced treatment access.