- Medexus Pharmaceuticals (OTCQX: MEDXF) posted strong fiscal year 2025 results, including a record net income of $2.2 million.
- The early launch of GRAFAPEX in February 2025 led to positive market responses, with 34 transplant centers ordering the product.
- Medexus's liquidity improved significantly, increasing to $24.0 million as of March 31, 2025, up from $5.3 million the previous year.
Medexus Pharmaceuticals (OTCQX: MEDXF) has reported robust financial performance for the fiscal year 2025, recording revenues of $108.3 million. Despite a 4.2% decrease from the previous fiscal year, the company achieved a record net income of $2.2 million and an adjusted EBITDA of $20.2 million, marking a 3.6% year-over-year increase.
The company experienced a strong market entry for its new product, GRAFAPEX (treosulfan) for Injection, which was launched commercially in the United States in February 2025, following FDA approval in January. The product has seen a positive reception, with 34 transplant centers placing orders and four large commercial payers covering approximately 34 million patient lives, signaling promising formulary inclusion determinations.
Medexus expects GRAFAPEX to become a significant revenue driver, projecting annual product-level revenues to exceed $100 million within five years post-launch. The anticipated Adjusted Gross Margin for GRAFAPEX is approximately 80%, suggesting strong profitability potential.
The company also reported an improved liquidity position, with $24.0 million in cash and cash equivalents as of March 31, 2025, up from $5.3 million the previous year. This increase is largely attributed to a successful public offering of Common Shares in January 2025.
In Q4 of fiscal year 2025, Medexus achieved $0.6 million in product-level revenue from GRAFAPEX. With preliminary estimates indicating over $2.5 million in revenue in fiscal Q1 2026, Medexus continues to expect GRAFAPEX to be accretive to quarterly operating cash flows by fiscal Q4 2026 (calendar Q1 2026).
Despite these successes, the company faced challenges with reduced sales in other product lines, such as Rasuvo and IXINITY, which affected total revenue. However, investments in the commercialization of GRAFAPEX and strategic financial maneuvers have positioned Medexus for continued growth.
