Medexus Announces Fiscal Q2 2026 Results, Driven by Strong Year-To-Date Product-Level Performance of GRAFAPEX (treosulfan) for Injection

Core Insights - Medexus Pharmaceuticals reported strong performance in fiscal Q2 2026, primarily driven by GRAFAPEX (treosulfan) for Injection, with product-level net revenue reaching $3.1 million and $6.2 million for the three- and six-month periods ended September 30, 2025, respectively [2][4][9] - The company experienced a decrease in overall net revenue, attributed to reduced sales of Rupall and Gleolan, but GRAFAPEX's performance is expected to positively impact future cash flows [4][5][6] Financial Performance - Total net revenue for fiscal Q2 2026 was $24.7 million, down 6.1% from $26.3 million in the prior year, while six-month revenue decreased by 7.8% to $49.4 million [4][5] - Adjusted EBITDA for the three- and six-month periods was $4.4 million and $7.8 million, representing a decrease of 26.7% and 35.5% year-over-year, respectively [5][6] - Operating income was reported at $1.4 million and $2.2 million for the three- and six-month periods, reflecting a decrease of 12.5% and 60.7% compared to the previous year [7] Product Performance - GRAFAPEX has shown strong market demand, with 83% of US transplant centers engaged and 29% having ordered the product [3][9] - The company anticipates that GRAFAPEX will exceed $100 million in annual product-level net revenue within five years post-launch, supported by recent NTAP reimbursement approvals [8][9] - Patient unit demand for Trecondyv increased by 69% over the trailing 12 months, while IXINITY saw a slight decrease of 3% [10][11] Operational Highlights - Medexus has successfully reduced total debt by $16.6 million since March 31, 2025, bringing total long-term debt to $21.1 million as of September 30, 2025 [6][7] - The company generated $3.3 million in cash flow from operating activities for fiscal Q2 2026, despite a decrease from the previous year [6][7] - GRAFAPEX's launch has been supported by significant investments in personnel and infrastructure, totaling $6.0 million through September 30, 2025 [2][3]