The following is a summary of the Medexus Pharmaceuticals Inc. (MEDXF) Q2 2025 Earnings Call Transcript:

Financial Performance:

• Medexus Pharmaceuticals reported a revenue of $26.3 million in Q2 2025, a decrease from $30.3 million in the same quarter last year, primarily due to reduced sales of Rasuvo and IXINITY.

• Adjusted EBITDA increased to $6 million from $5.3 million year-over-year, reflecting positive impacts from financial discipline and improvements in IXINITY cost of sales.

• Net income improved by $1.2 million to $0.1 million.

• Gross profit was $14.1 million with a stable gross margin of 53.7%.

Business Progress:

• Medexus continued to focus on its pipeline products such as topical terbinafine and treosulfan, with strategic investments in personnel and infrastructure to prepare for potential FDA approval of treosulfan.

• Engaged in collaborative negotiations with PCPA for public access to Trecondyv in Canada, marking a critical step towards commercialization.

Opportunities:

• There are ongoing preparations for a potential approval of treosulfan, which is expected to significantly enhance revenue; annual revenue from treosulfan in the U.S. could exceed $100 million within five years after launch.

• Regulatory changes in Ontario could enhance the availability and accessibility of Medexus's products like topical terbinafine and NYDA.

Risks:

• The upcoming generic competition for Rupall and the loss of exclusivity might affect revenue, although the erosion is expected to be slow since it's only getting private reimbursement.

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