Q1 2026 Medexus Pharmaceuticals Inc Earnings Call Transcript
Key Points
- GRAFAPEX has been successfully launched, with nine large commercial payers and 14 healthcare institutions including it in their formularies.
- Medexus Pharmaceuticals Inc (MEDXF) secured NTAP reimbursement approval for GRAFAPEX, allowing eligible patients to receive up to $21,411 in additional reimbursement under Medicare.
- The company reported positive net income for the fifth consecutive quarter, demonstrating consistent profitability.
- Trecondyv demand in Canada grew by 38% over the trailing 12-month period, indicating strong market acceptance.
- Gross margin improved to 56.0% in fiscal Q1 '26 from 54.4% in the same period last year, reflecting better cost management and product mix.
- Total net revenue for fiscal Q1 '26 decreased to $24.6 million from $27.3 million in the same period last year, indicating a decline in overall sales.
- Adjusted EBITDA decreased to $3.4 million from $6.1 million in the same period last year, primarily due to the effects of generic competition on Rupall.
- Net income decreased to $0.5 million from $2 million in the same period last year, reflecting reduced profitability.
- Rupall's revenues have experienced significant erosion due to the loss of exclusivity, with a 29% decrease in unit demand over the six-month period ending June 30.
- Cash-on-hand decreased significantly to $9.3 million at June 30, 2025, from $24 million at March 31, 2025, primarily due to a $15.5 million payment under the senior secured credit agreement.
Good morning, everyone, and welcome to the Medexus Pharmaceuticals first-quarter 2026 conference call. (Operator Instructions) Please note, this conference is being recorded. I will now turn the conference over to your host, Victoria Rutherford-Investor Relations. Victoria, the floor is yours.
Thank you, and good morning, everyone. Welcome to the Medexus Pharmaceuticals first-quarter 2026 earnings call. On the call this morning are Ken d'Entremont, Chief Executive Officer; and Brendon Buschman, Chief Financial Officer. If you have any questions after the conference call or would like further information about the company, please contact Adelaide Capital at 480-625-5772.
I would like to remind everyone that this discussion will include forward-looking information as defined in Canadian securities laws that is based on certain assumptions that Medexus believes to be reasonable in the circumstances, that is subject to risks and uncertainties. Actual results may differ materially from
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