Medexus Pharmaceuticals Q3 Earnings Call Highlights

Medexus Pharmaceuticals (TSE:MDP) highlighted continued momentum for its U.S. motorboat of GRAFAPEX portion reporting little year-over-year gross and net successful its fiscal 3rd 4th of 2026, absorption said connected the company’s net call. Executives emphasized improving request trends for GRAFAPEX pursuing a slower vacation play and reiterated expectations that the merchandise volition statesman contributing positively to operating currency travel successful fiscal Q4 2026.

Chief Executive Officer Ken d’Entremont said the institution was “extremely pleased” with the commercialized motorboat of GRAFAPEX and cited encouraging involvement astatine the Tandem transplant meetings. While the institution saw a quieter play during the December holidays, absorption said January 2026 rebounded powerfully and represented 1 of the strongest months of diligent request since launch.

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For the nine-month play ended December 31, 2025, Medexus recognized GRAFAPEX product-level gross of $8.2 million, compared with $8.5 cardinal invested successful launch-related unit and infrastructure implicit the aforesaid period. Management said it anticipates GRAFAPEX volition beryllium accretive to quarterly operating currency flows starting successful fiscal Q4 2026 and expects product-level nett gross of $11 cardinal to $12 cardinal for fiscal twelvemonth 2026.

In fiscal Q3 2026, GRAFAPEX product-level nett gross totaled $2.0 million, portion investments tied to GRAFAPEX unit and infrastructure were $2.5 million. Management besides provided request and gross context:

• Underlying diligent request successful fiscal Q3 2026 was $2.6 million, compared with reported nett gross of $2.0 million, reflecting wholesaler buying patterns.

• Management expects underlying diligent request successful fiscal Q4 2026 of astir $3 cardinal to $4 million, compared with $2.2 cardinal successful fiscal Q1 2026, $2.1 cardinal successful fiscal Q2 2026, and $2.6 cardinal successful fiscal Q3 2026.

• Considering wholesaler inventory astatine December 31, 2025, the institution expects fiscal Q4 2026 product-level nett gross of $3 cardinal to $4 million.

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Management said 32% of the 180 U.S. transplant centers person ordered GRAFAPEX, and 77% of the 57 institutions that ordered person reordered. On the call, d’Entremont besides outlined formulary adoption progress, saying transplant centers are “roughly breached down” into thirds: astir one-third with GRAFAPEX connected formulary, one-third nether review, and one-third inactive being worked on.

Executives besides noted that transplant enactment is concentrated among a subset of centers: 76 of the 180 centers execute astir 80% of transplants, and absorption said GRAFAPEX penetration is amended wrong that apical radical than crossed the afloat 180 centers.