what a dog of a stock...the absolute worst in my entire investing history. Morningstar today ceased coverage...the fact they went before results isnt a good sign. Only saviour on this stock is the sacking of SR..question is whether anyone has the patience for the long recovery with a new CEO and Board..
"As foreshadowed in our note on July 21, 2020, we have ceased coverage on Mayne Pharma. We periodically adjust our coverage as necessary based on stock outlook, client demand, and investor interest. The company faces high uncertainty as its core generic pharmaceuticals business is in decline, with no sign of stabilisation, and the revenue is not yet replaced by newly acquired products. Mayne has limited R&D expertise and grows by acquiring or licensing products to add to its distribution portfolio. The earnings outlook is highly dependent on the commercial success of the novel oral contraceptive, licensed from Mithra Pharmaceuticals, which is currently awaiting regulatory approval from the U.S. Food and Drug Administration. The unknown pace of decline in the generics segment and ability of the company to replace lost revenue with new products results in high uncertainty in possible investment outcomes for Mayne. The company does not pay a dividend and is committed to issue further shares in payment for new products".
MYX Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
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