Q4 2026 Medexus Pharmaceuticals Inc Earnings Call Transcript
Key Points
- GRAFAPEX product level revenue exceeded initial investment, showing strong commercialization progress.
- 74 out of 180 US transplant centers have ordered GRAFAPEX, with 54 reordering, indicating strong market penetration.
- Fiscal Q4 2026 adjusted EBITDA increased to $4.3 million from $2.3 million in the previous year, reflecting improved financial performance.
- Gross margin improved to 53.8% in Q4 2026 from 50.2% in the previous year, driven by increased GRAFAPEX sales.
- Secured exclusive Canadian rights to commercialize UM171 Cell Therapy, expanding the product pipeline in the Allo-HSCT space.
- Fiscal year 2026 net revenue decreased to $99.3 million from $108.3 million in 2025, primarily due to the termination of the US Gleolan agreement and generic competition for Rupall in Canada.
- Net loss for fiscal Q4 2026 was $2.7 million, an increase from a net loss of $0.6 million in the previous year.
- Cash on hand decreased significantly to $6.5 million at March 31, 2026, from $24 million at March 31, 2025, due to a $15 million regulatory milestone payment.
- SG&A expenses increased to $45.9 million for fiscal year 2026 from $43.2 million in the previous year, impacting profitability.
- The company anticipates increased R&D spending in fiscal 2027, which may affect short-term financial results.
Greetings. Welcome to the Medexus Pharmaceuticals fiscal fourth quarter and year-end 2026 conference call. (Operator Instructions) Please note this conference is being recorded.
I will now like to turn the conference over to your host, Victoria Rutherford, Investor Relations of Medexus. You may begin.
Thank you. Good morning, everyone. Welcome to the Medexus Pharmaceuticals fiscal fourth quarter and year-end 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, but is subject to risks and uncertainties. Actual results may
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