3rd quarter financial update is disappointing -$3.4M for the quarter and forecasting underlying EBITDA at about $50M. This trims nearly $30M from my estimates for FY25. I do wonder why an update was given for the 9 months when such an update has not been given before.
Delay in the Scheme of about 6 weeks, but we still don't know why.
Acquisition of Twyneo & Epsolay for US$16M, with IQVIA sales of US$40.6. Given that these sales were through conventional channels, I expect MYX to exceed that figure, as it did with Rhofade. These are branded drugs without generic competition, and the Independent Expert should conclude that this will add another $1.5-$2 to the valuation of the company.
MYX Price at posting:
$7.06 Sentiment: Buy Disclosure: Held
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