My feeling is that the cash burn continues unabated - that's where our capital return is going. I think we can kiss goodbye to it now. In the meantime, they are trying to sell off the generics to fund the women's health portfolio with little or no interest from potential buyers (if they even exist,) and struggling to raise debt in light of this. So they have to preserve what they have left, and hope that "FY24" is indeed the profitable year they promise (time will tell, but the track record says No.)
It's possible that with some money in the bank somebody would be interested in buying the lot, but let's face it, MYX were the only bidders in the TXMD portfolio and overpaid without securing proper funding, Nextstellis is burning cash and yet to prove itself, dermatology has some serious questions that remain unanswered, running at a loss, and the generics business is a farce. What's left? A plant in Salisbury? How long before they sell this off to fund the cash burn? Or better still, raise money from shareholders after the consolidation, rather than return the capital they promised?
Time will tell, but this BOD continues to surprise on the downside. I expect the financial results in Feb to be a bloodbath, and at least another 12 months before any positive cash flows or traction materialises (and that's optimistic.)
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