MRVFF - MRVFF STOCK NEWS

Nuvo Pharmaceuticals Inc. (TSX: MRV; OTCQX: MRVFF) d/b/a Miravo Healthcare successfully conducted its 2022 Virtual Annual Meeting of Shareholders on May 16, 2022. During the meeting, all director nominees listed in the management proxy circular dated April 8, 2022, were elected. Notably, Daniel Chicoine received 90.62% of votes cast in his favor. Additionally, Ernst & Young LLP was appointed as the Company’s auditors for the upcoming fiscal year. Detailed results of the voting can be accessed at www.sedar.com.

Miravo Healthcare reported a strong first quarter of 2022 with total revenue at $15.6 million, an 8% year-over-year increase. Notably, the Blexten, Cambia, and Suvexx franchises contributed $8.1 million, a 38% rise. Adjusted EBITDA stood at $3.1 million, down 28% from last year. The company has a cash balance of $26.5 million and repaid $3.5 million of debt. However, the approval of a generic Pennsaid 2% may pose risks to revenue streams in the U.S.

Nuvo Pharmaceuticals, operating as Miravo Healthcare, announced that the FDA approved Apotex Inc.'s generic version of Pennsaid 2% on May 6, 2022. This generic entry could significantly impact Miravo's Production and Service Business Segment, which derived around 13% of total revenue from Pennsaid 2% manufacturing for the U.S. market in 2021. Miravo's U.S. partner retains intellectual property rights and litigation authority regarding this matter.

Nuvo Pharmaceuticals Inc. (TSX:MRV; OTCQX:MRVFF) d/b/a Miravo Healthcare announces it will release its first quarter 2022 financial results on May 16, 2022, before market opening. This will coincide with the Company’s virtual Annual Meeting of Shareholders, starting at 9:00 a.m. ET. Registered shareholders can vote and submit questions during the meeting. Participants can join online, with access beginning at 8:45 a.m. ET. The Meeting Materials were mailed around April 22, 2022 and details for attendance can be found on the Company's website.

Miravo Healthcare (TSX:MRV; OTCQX:MRVFF) announced that its President & CEO, Jesse Ledger, and CFO, Mary-Jane Burkett, will present at the Bloom Burton & Co. Healthcare Investor Conference on May 2, 2022, at 11:00 a.m. ET. The conference will be held at the Metro Toronto Convention Centre and aims to connect U.S., Canadian, and international investors with leading healthcare companies. Miravo focuses on therapeutic areas such as pain, allergy, neurology, and dermatology, with a strategy to acquire complementary products.

Nuvo Pharmaceuticals, operating as Miravo Healthcare (MRVFF), reported a 2% increase in total revenue for Q4 2021, reaching $17.7 million. However, the company faced a net loss of $5.6 million, contrasting with a net income of $2.4 million in Q4 2020. Over the entire year, total revenue dropped 7% to $68.9 million. Prescription gains were notable, with Blexten and Cambia up 21% and 8% respectively. The company will host a conference call on March 28, 2022, to discuss these results further.

Nuvo Pharmaceuticals Inc. (TSX:MRV; OTCQX:MRVFF) will announce its fourth quarter 2021 financial results on March 28, 2022, before market opening. Following the announcement, a conference call led by President & CEO Jesse Ledger is scheduled for the same day at 11:00 a.m. ET. Investors can join by dialing (289) 536-4777 or 1 (888) 550-2239. An audio webcast will be available online for those who wish to access the event remotely.

Nuvo Pharmaceuticals (TSX:MRV; OTCQX:MRVFF) has launched Blexten, a new antihistamine for pediatric patients aged 4 and older, in two formats: a 2.5mg/mL oral solution and a 10mg rapidly dispersing tablet. This was announced following Health Canada's approval in August 2021. The new formulations aim to provide effective relief for seasonal allergic rhinitis and chronic spontaneous urticaria. Blexten is derived from bilastine, which is approved in over 121 countries. The company's strategic intent is to expand its pediatric offerings and strengthen its market presence.

Nuvo Pharmaceuticals announced that the U.S. District Court found its patents for Vimovo invalid, affecting its business in the U.S.

Despite this ruling, its Irish subsidiary will continue to receive royalty payments from U.S. and global partners. In Q3 2021, Miravo earned $0.2 million in royalties on U.S. Vimovo sales. The company is evaluating its options in light of the court's decision.