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Medicure Inc. (MCUJF) is a pharmaceutical company focused on developing and commercializing healthcare products in the U.S. market. The company's core business includes the marketing and distribution of AGGRASTAT (tirofiban hydrochloride) injection and ZYPITAMAG (pitavastatin) tablets. Medicure operates Marley Drug, a pharmacy subsidiary serving all 50 states, Washington D.C., and Puerto Rico, committed to improving access to medications and reducing healthcare costs. Recently, Medicure received Fast Track designation from the FDA for its investigational product MC-1, targeting seizures associated with PNPO deficiency, a rare pediatric disease.
Medicure (TSXV:MPH)(OTC PINK:MCUJF) has scheduled its Q3 2024 financial results presentation for November 26, 2024, at 8:30 AM ET. The Q3 financials will be filed after market close on November 25, 2024. The company also announced the resignation of Board member Kimberly Kramchynsky, effective November 18, 2024, citing personal reasons. The conference call will be accessible via toll-free and international numbers, with a webcast option available. A Q&A session will follow the presentation, and a recording will be available on the company's website afterward.
Medicure has announced a successful settlement of product development and supply contracts between its subsidiaries Medicure International Inc. & Medicure Pharma Inc. and an undisclosed third party. The company has received a €1.5 million settlement payment as part of the final agreement. The remaining terms of the settlement and the identity of the third party remain confidential.
Medicure Inc. (TSXV:MPH)(OTC PINK:MCUJF) reported financial results for Q2 2024. Total net revenue decreased to $5.2 million from $6.0 million in Q2 2023. AGGRASTAT sales declined to $1.8 million from $2.6 million. Marley Drug business revenue remained stable at $2.7 million. ZYPITAMAG sales increased slightly to $1.4 million from $1.3 million. The company reported a net loss of $1.2 million ($0.12 per share) compared to a net income of $253,000 ($0.03 per share) in Q2 2023. Adjusted EBITDA was negative $514,000, down from $948,000. Cash and cash equivalents stood at $5.9 million as of June 30, 2024.
Medicure, a pharmaceutical company, announced an asset purchase agreement with CanAm Bioresearch to acquire patents and intellectual property related to new chemical entities for therapeutic use. Medicure will pay CanAm $100,000 upfront and up to $1.25 million in milestone payments, plus 10% of net proceeds from asset-related transactions, capped at $20 million. The deal includes the option for CanAm to repurchase the assets if Medicure fails to file an IND application within seven years. The agreement remains subject to regulatory approvals and customary closing conditions.
Medicure (TSXV:MPH) (OTC PINK:MCUJF) reported financial results for Q1 2024, ending March 31, 2024. The company recorded net revenue of $5.7 million, a slight increase from $5.6 million in Q1 2023. AGGRASTAT revenue fell to $2.3 million from $2.7 million, while Marley Drug revenue rose to $2.7 million from $2.3 million. Adjusted EBITDA decreased to $359,000 from $916,000, and net income dropped to $51,000 from $290,000. The decrease was attributed to higher expenses and lower AGGRASTAT sales. The company had $6.1 million in unrestricted cash as of March 31, 2024.
Additionally, all six nominees, including new director Kimberly Kramchynsky, were elected at the annual general meeting. The company will host a conference call on May 29, 2024, to discuss the results.
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