MEDEXUS PHARMS INC - MEDXF STOCK NEWS

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.

On September 15, 2022, Medexus Pharmaceuticals held its annual meeting where all director nominees were reelected with overwhelming support. Key proposals were also approved, including the appointment of PricewaterhouseCoopers LLP as auditors and the adoption of a new equity compensation plan. Specifically, 99.43% voted for Ken d’Entremont, and 97.07% approved the auditors. Medexus focuses on innovative treatments in rare diseases, with products like IXINITY®, Rasuvo™, and Rupall® driving growth.

Medexus Pharmaceuticals reported record total revenue of $23.0 million for fiscal Q1 2023, a 33% increase from fiscal Q1 2022, driven by strong net sales of IXINITY and initial U.S. revenue from Gleolan. Adjusted EBITDA improved to $1.9 million from a loss of $4.9 million a year prior. The company aims for a full commercial launch of Gleolan in fiscal Q2 and has resubmitted the NDA for treosulfan to the FDA, with milestone payments deferred to October 2023.

Medexus Pharmaceuticals (MEDXF) will host a conference call on August 9, 2022, at 8:00 am ET, to discuss its financial results for Q1 ended June 30, 2022. The financial statements will be filed after market close on August 8, 2022. Interested participants can join via a toll-free number or through a live webcast available on Medexus’s corporate website. The company focuses on innovative treatment solutions for rare diseases, including approved products like Rasuvo™ and IXINITY® and recently licensed Treosulfan for use in stem cell transplantation.

Medexus Pharmaceuticals, in partnership with medac, has resubmitted a New Drug Application (NDA) for treosulfan to the FDA, which, if approved, could significantly impact the company’s revenue. The NDA seeks approval for treosulfan in combination with fludarabine for allogeneic hematopoietic stem cell transplantation. The pivotal phase 3 trial met its primary and key secondary endpoints, enhancing the prospects for approval within six months. With the potential to capture a market previously generating $126 million annually, Medexus is optimistic about treosulfan's future in the U.S.