Welcome to our dedicated page for MEDICURE news (Ticker: MCUJF), a resource for investors and traders seeking the latest updates and insights on MEDICURE stock.
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 reported Q3 2021 net revenue of $4.9 million, up from $3.5 million in Q3 2020, driven by sales of AGGRASTAT® and contributions from Marley Drug™. AGGRASTAT® revenue declined to $2.9 million from $3.4 million year-over-year, while ZYPITAMAG® revenues improved to $388,000. The adjusted EBITDA rose to $282,000 from $4,000 in Q3 2020. Despite a net loss of $946,000, a reduction from $1.05 million, unrestricted cash increased to $3.3 million. The company expects future revenue growth from ZYPITAMAG® and Marley Drug™.
Medicure Inc. (OTC: MCUJF) announced plans to launch a national direct-to-consumer E-Commerce pharmacy platform via Marley Drug™ before the end of 2021. This platform aims to offer FDA-approved medications, including ZYPITAMAG, at discounted prices with free delivery across all 50 states. Targeting over 120 million uninsured and underinsured Americans, the initiative seeks to improve medication access and address 'pharmacy deserts.' CEO Albert D. Friesen highlighted this as a significant step for the company that could enhance shareholder value by strengthening existing business lines.
Medicure announced positive results from the SAVI-PCI trial, where short infusion AGGRASTAT was shown to be non-inferior to INTEGRILIN and long-infusion AGGRASTAT regarding combined efficacy and major bleeding. The trial involved 535 patients across 13 sites in the U.S. and demonstrated a significant reduction in major bleeding events with the short infusion method (0% vs. 3.2%, p = 0.0093). This data supports the contemporary use of AGGRASTAT in the U.S. and reflects its potential in mitigating bleeding risks while maintaining ischemic protection.
Medicure Inc. (OTC: MCUJF) announced the grant of stock options to certain officers, allowing the purchase of 90,000 common shares at $1.10 each. The options, which vest immediately, can be exercised over five years and require TSX Venture Exchange approval. Medicure is focused on the U.S. cardiovascular market and markets AGGRASTAT® and ZYPITAMAG®. The company's operations include Marley Drug, a North Carolina pharmacy providing an Extended Supply mail order program across many states.
Medicure Inc. (TSXV: MPH, OTC: MCUJF) announced the appointment of David Gurvey as Chief Financial Officer, effective June 28, 2021. Gurvey, a seasoned finance leader, previously served as CFO at DiaMedica Therapeutics, where he played a crucial role in enhancing company value from $2.4 million to $40 million. The Board expressed confidence in Gurvey's ability to translate strategic vision into operational success, aiming to bolster Medicure's growth in the U.S. cardiovascular market, particularly through its key products AGGRASTAT® and ZYPITAMAG®.
Medicure reported its Q1 2021 results, showing net revenue of $4.9 million, up from $3.0 million in Q1 2020. The sales from AGGRASTAT® were $2.6 million, slightly down from $2.7 million year-over-year. Significant contributions came from Marley Drug, generating $2.1 million in revenue, alongside ZYPITAMAG® with $161,000. Adjusted EBITDA improved to $31,000 compared to a loss of $1.3 million in the previous year. The net loss reduced to $1.0 million or $0.10 per share from $1.5 million or $0.14 per share in Q1 2020.
Medicure Inc. (OTC: MCUJF) will release its financial results for Q1 2021 on May 10, 2021. A conference call is scheduled for May 11 at 7:30 AM CT to discuss the 2020 annual and Q1 results. The company focuses on pharmaceuticals for the U.S. cardiovascular market and markets AGGRASTAT® and ZYPITAMAG® through its subsidiary Medicure Pharma Inc. Additionally, it operates Marley Drug, a pharmacy offering an Extended Supply mail order program, enhancing healthcare access while aiming to lower costs for consumers.
Medicure Inc. (OTC: MCUJF) announced the resignation of Chief Financial Officer James Kinley, effective May 15, 2021, after nearly a decade of service. Kinley is leaving to pursue another opportunity. The company is actively searching for a new CFO and has appointed Dr. Neil Owens, the current COO, as interim CFO. CEO Albert D. Friesen expressed gratitude for Kinley's contributions. Medicure focuses on the development of cardiovascular therapies, particularly AGGRASTAT® and ZYPITAMAG®, and operates Marley Drug, a pharmacy offering extended supply programs.
Medicure reported a net revenue of $11.6 million for the year ended December 31, 2020, down from $20.2 million in 2019. Quarterly revenue also decreased to $2.4 million from $3.5 million. AGGRASTAT® sales dropped to $10.6 million due to reduced volumes from COVID-19 impacts. Conversely, ZYPITAMAG® and Marley Drug contributed $453,000 and $340,000 respectively. The adjusted EBITDA was negative $3.9 million, in line with 2019. The net loss for 2020 was $6.8 million, a significant reduction from $19.8 million in 2019. Unrestricted cash fell to $2.7 million from $13.0 million.
Medicure Inc. will participate in Renmark Financial Communications' live Virtual Non-Deal Roadshow on March 30, 2021, at 1:00 PM EST. This event aims to present the latest investor insights and will feature Dr. Albert Friesen, CEO and Chairman. Stakeholders and investors are invited to register for the live session, which will also include a Q&A segment. Limited registration is available, but a replay will be accessible on Medicure's website afterward. Medicure focuses on cardiovascular therapies in the U.S.
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