Can't say that I have looked at Mithra before from an investor point of view....so take all this with a grain of salt.
From 2019 report
François Fornieri, CEO Mithra Women’s Health, commented: “2019 marked Mithra’s 20th anniversary and was an exceptional year in more ways than one. From a financial perspective, our turnover increased by 47% to reach 95.6 million EUR versus 65.5 million EUR in 2018. Our EBITDA, which was
positive for the first time in 2018, continued its momentum reaching a record level of EUR 40.7 million. The successful renegotiation of our earn-out payments allowed us to considerably reduce the weight of this contingent liability on our 2019 results.More than ever, our cash flow was solidly managed in 2019, allowing us to start the phase III study for Donesta® on time, while ensuring the growth of our business, which has entered commercial production. The expected launch of Myring ™ in 2020 in the three largest world markets, and that of Estelle® from 2021,
will complete our transition into a commercial biotech company. Of the EUR 486 million in revenues linked to Estelle® license agreements, we should still recognize some EUR 322 million from additional future milestones."
Looks to me like they were untill recently focussed on developing these products and only recently transitioned into commercialising all of this.
E4 seems to be their main achievement and "crown" jewel.
They are also focussing on other applications for E4 in products like Donesta and dumping R&D into that.
Looks very much like their wagon is hitched to the success of E4 ( Estelle, Donesta ) and Myring in short term....similar to Mayne.
Although they do have other products coming up.
I think the delay in Myring and Estelle ( Nextstellis ) approval and commercialisation impacted them too and there were no major deals for them in 2020 only income from the very first Myring and Estelle sales mainly from latin america..
The one to watch here would be the interrim report 24 September 2021 and see the sales.
Mayne will report 27 August.
(20min delay)