Looking at the release I didnt think it warranted a 15% SP fall so in the 4 months our cash balance increased $15m +$5m usd payment for launch of Lexette. We had a bad few months for generics but this will improve.
Why do we need such a big buffer in cash on hand? should management be looking at reducing our debt or even maybe a share buyback ?
"At a group level, revenue was $154m in the first 4 months of CY19 down 15% on pcp and gross profit was $79m down 20% on pcp. Cash on hand at 30 April 2019 of $111m was $15m higher than the position at 31 December 2018 after a US$5m payment for the commercial launch of LEXETTE and the Company’s bank debt remained consistent with the December 2018 balance. The Company continues to have significant head room under its bank covenants"
Ann: Mayne Pharma market update, page-3
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$4.73 |
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