Welcome to our dedicated page for Medexus Pharmace news (Ticker: MEDXF), a resource for investors and traders seeking the latest updates and insights on Medexus Pharmace stock.
Medexus Pharms Inc (MEDXF), referred to in its disclosures as Medexus Pharmaceuticals, generates a steady flow of news related to its specialty pharmaceutical business in North America. Investors following MEDXF news can see updates on hematology and hematology-oncology products, as well as allergy, dermatology, and rheumatology therapies that form the company’s core portfolio.
Many Medexus news releases focus on GRAFAPEX (treosulfan) for Injection, an alkylating agent used as part of a preparative regimen for allogeneic hematopoietic stem cell transplantation in patients with acute myeloid leukemia or myelodysplastic syndrome. The company reports on FDA approval, Orphan Drug Designation, US commercial launch timing, and key reimbursement milestones such as CMS New Technology Add-On Payment (NTAP) approval, transitional pass-through status, and assignment of a permanent HCPCS Level II "J code". These items provide insight into how Medexus is building its hematology-oncology franchise in the United States.
MEDXF news also covers quarterly and annual financial results, including net revenue, net income, Adjusted EBITDA, and product-level performance for GRAFAPEX, Trecondyv, IXINITY, Rupall, Rasuvo, Metoject, and Gleolan. The company uses these releases to discuss unit demand trends, the impact of generic competition on products such as Rupall, and portfolio dynamics across the United States and Canada.
Additional news topics include financing and capital allocation decisions, such as new senior secured credit facilities with National Bank of Canada, repayment of prior credit agreements, and the launch or renewal of a normal course issuer bid (NCIB) for Medexus common shares on the Toronto Stock Exchange. Governance-related items, including annual meetings of shareholders, director elections, and auditor appointments, are also reported.
For anyone tracking MEDXF, this news stream offers detailed information on product launches, regulatory and reimbursement milestones, financial performance, credit arrangements, and share repurchase activity. Bookmarking the Medexus news feed on Stock Titan can help investors and researchers follow how the company’s North American specialty pharmaceutical platform evolves over time.
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.
Medexus Pharmaceuticals (OTCQX: MEDXF) will host a conference call on February 9, 2023, at 8:00 am ET to discuss its third fiscal quarter results for the period ending December 31, 2022. The financial statements and MD&A will be filed after market close on February 8, 2023. Participants can join the call via toll-free numbers or an international dialing option. A live webcast will be available, with a replay accessible for a week following the call. Medexus focuses on innovative therapeutic solutions for rare diseases, including products like IXINITY® and Rasuvo® for hematology and auto-immune diseases.
Medexus Pharmaceuticals announced preliminary revenue estimates for fiscal Q3 2023, projecting total revenue between $28.5 million and $29.0 million, marking a record quarter with a 34% year-over-year increase. Key revenue drivers include strong sales of IXINITY, Rasuvo, Rupall, and Gleolan. However, progress on treosulfan is delayed, as medac must gather additional data for the FDA, potentially extending the NDA resubmission timeline by up to a year. Medexus aims to maintain momentum in its current product portfolio while seeking new opportunities.
Medexus Pharmaceuticals (MEDXF) reported record total revenue of $27.7 million for Q2 fiscal 2023, reflecting a 55% year-over-year increase and a 20% quarter-over-quarter increase, marking its strongest quarter ever. Key drivers included increased sales from IXINITY and Rupall, alongside full recognition of Gleolan's U.S. revenues. Adjusted EBITDA rose to $4.2 million. Despite a net loss of $(2.7 million), adjusted net loss improved to $(2.8 million). The company ended the quarter with $9.6 million in cash and plans to enhance its balance sheet.
Medexus Pharmaceuticals (OTCQX: MEDXF) will host a conference call on November 9, 2022, at 8:00 am ET to discuss its second-quarter results for the period ending September 30, 2022. The financial statements and MD&A will be filed after the market closes on November 8, 2022. Dial-in numbers are provided for Canadian, U.S., and international callers. A replay will be available post-call until November 16, 2022. Medexus focuses on rare disease treatments, with products like Rasuvo™ and IXINITY® among its portfolio, aiming for continued growth in innovative therapies.
Medexus Pharmaceuticals has announced preliminary revenue estimates for fiscal Q2 2023, expecting total revenue to exceed US$27.0 million, marking a record high. This represents at least a 51% increase from US$17.9 million in Q2 2022, and a 17% increase from US$23.0 million in Q1 2023. Key product drivers include positive sales trends for IXINITY, strong performance in Rasuvo and Rupall, and continued growth in Gleolan. The company emphasizes ongoing operational efficiencies and bolstered liquidity through a recent partnership extension.
Medexus Pharmaceuticals has increased its borrowing capacity under its revolving credit facility by US$5.0 million, raising the total to US$25.0 million. This amendment with MidCap Funding IV Trust enhances Medexus’s balance sheet and provides additional operating liquidity. The company also issued warrants to purchase 135,710 common shares to MidCap, effective October 13, 2022. CEO Marcel Konrad expressed satisfaction with the partnership and the strengthened liquidity position as Medexus aims for revenue growth and improved performance across its product portfolio.
The FDA has requested additional information from medac regarding the NDA resubmission for treosulfan, delaying the approval process. Medexus Pharmaceuticals (OTCQX: MEDXF) has taken full responsibility for Gleolan's U.S. commercialization and recognizes 100% of its net sales starting September 2022, aiming for strong revenue growth with a record US$23 million revenue in Q1. CEO Ken d’Entremont remains optimistic about treosulfan's potential impact on U.S. patients, despite the FDA's prolonged response timeline.