Medexus Reports 3Q earnings, sales declines in Ixinity result in materially worse financials sequentially & year over year, stock opens -30% lower.
Seeing as how Medexus just opened -30% lower off the back of their earnings, it’s probably warranted that I get this out as soon as possible.
I haven’t had time to go through everything, but my intuition is that gene therapies related to hemophilia are causing some of their existing patients to attrition off. This is a large part of why getting the pediatric label onto ixinity is important as currently hemgenix is not approved for use in children.
I mentioned this risk in a follow-on post shortly after the original medexus writeup, although many of you probably did not see that.
My interest in this company solely relates to seeing treosulfan get onto the US market.
Any significant updates for the past 3 months?
Do you have any concerns about their leverage, especially given the weak print here? The $53m term loan with BMO has a pretty aggressive amortization to it, where does the cash flow come from for the required principal repayment? Any thoughts you have would be appreciated, thanks!