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October 01, 2022

Equity.Guru

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FDA info request, treosulfan and how the market should react to Medexus - Chris Parry's Daily Rant Video

FDA info request, treosulfan and how the market should react to Medexus – Chris Parry’s Daily Rant Video

In today’s rant, Chris talks about the recent news regarding an FDA request for further information on Medexus’ Treosulfan application. The market reacted wildly to the news, causing a major drop in share price, but Parry points out how the FDA’s request does little to impact the company’s current profitability and growth potential and is merely just another step in the application process.

As an example to the above opinion, Medexus reported at the beginning of August that the company had brought in revenues of $23.0 million USD in Q1 2023, a 33% increase from the same period in the same period in fiscal 2022. This garnered the company an adjusted EBITDA of $1.9 million another major increase from $(4.9) million in Q1 2022. This growth was attributed to organic increases in product revenue, a reduction in research and development costs and a recognition of a portion of revenue from Gleolan sales in the US.

Enjoy!

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