Medexus Pharmaceuticals (MDP) 16th Annual LD Micro Invitational Conference summary

Business overview and financial performance

• Reported $108 million in revenue and $20 million positive EBITDA from a stable, mature base business with 14 products, primarily U.S.-driven.

• Hematology now represents half of revenue, with a focus consolidating around stem cell transplantation.

• Infrastructure is largely U.S.-based, supporting further product launches and accretive growth.

• Business model centers on licensing and acquiring products in the U.S. and Canada, with minimal drug development risk.

• Maintains low debt, strong cash generation, and a capital structure supported by a low-cost debt provider.

Growth drivers and product highlights

• GRAFAPEX (treosulfan) is a new orphan drug for AML and MDS, already approved or under review in two-thirds of hospitals within the first year.

• GRAFAPEX received NTAP registration by Medicare, providing $21,000 per Medicare patient and supporting rapid hospital adoption.

• Early commercial response to GRAFAPEX is strong, with guidance for peak sales of $100–$175 million at 80% gross margin.

• Clinical studies show a 30% improvement in overall survival for MDS patients compared to previous treatments.

• GRAFAPEX's market share targets are based on success in Canada and Western Europe, with realistic expectations for the U.S.

Portfolio strategy and future plans

• Portfolio includes IXINITY for hemophilia B and Rasuvo/Metoject for rheumatoid arthritis, both with strong market positions and limited generic risk.

• M&A strategy focuses on acquiring products at less than one-time revenue, aligning partner economics with revenue growth.

• GRAFAPEX was acquired for $30 million upfront plus milestones, with expectations to more than double revenue in coming years.

• Plans to seek larger, later-stage assets in rare disease and orphan drug space, leveraging existing platform and infrastructure.

• Company is positioned for the next stage of growth, aiming to add significant new assets to the portfolio.