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MEDEXUS PHARMS INC (MEDXF) is a leading specialty pharmaceutical company with a strong North American commercial platform and a growing portfolio of innovative and rare disease treatment solutions. The company focuses on therapeutic areas such as oncology, hematology, rheumatology, auto-immune diseases, allergy, and dermatology. Recent achievements include the approval of IXINITY for pediatric patients under 12 years of age with hemophilia B and the acceptance of treosulfan's New Drug Application for review by the FDA. MEDXF is dedicated to enhancing patient care and quality of life through its products.
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.
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.
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