In spite of Covid-19 the business has stabilised and that it generated $100m of EBITDA and paid down $32m of debt is a good sign.
Cost management and tighter R&D cost controls are good. The further writedown of the generics business shows what a disaster Scott Richards got us into. Teva pulled the wool over his eyes. Chairman Corbett should also take the blame.
The SP will not change appreciably until the generic Nuvaring FDA approval is received followed by the approval of E4/NextStellis which should be the gamechanger.
So current investors have to decide whether the cost of waiting and the risk of the approvals actually being received is worth it.
I for one am willing to wait recognising that selling my MYX shares preserves my reduced capital however I believe the reward of hanging in there outweighs the risk of selling out.
Time will tell if I have made the right decision.
MYX Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
