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Tag: MYX

Broker News

MYX – UBS rates the stock as Neutral

October 7, 2020 - by Broker News

Mayne Pharma Group received a complete response letter (CRL) from the US FDA regarding the application for a generic version of NuvaRing. Management is confident the issues raised by the FDA will be addressed in a timely matter.

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Broker News

MYX – UBS rates the stock as Neutral

July 21, 2020 - by Broker News

Script volume trends indicate competitors continue to take share in several of Mayne Pharma’s categories, the broker notes, albeit at a slower pace than in FY19.

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Broker News

MYX – UBS rates the stock as Neutral

July 8, 2020 - by Broker News

Mayne Pharma has entered into a supply agreement with Chinese base manufacturer Novast Laboratories for 13 US generic oral contraceptive products, including five not previously marketed.

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Broker News

MYX – UBS rates the stock as Neutral

July 7, 2020 - by Broker News

Mayne Pharma has entered into a supply agreement with Chinese base manufacturer Novast Laboratories for 13 US generic oral contraceptive products, including five not previously marketed.

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Shares

Mayne Pharma Plots US Contraceptives Expansion

July 7, 2020July 6, 2020 - by Glenn Dyer

Generic drugmaker, Mayne Pharma shares went for a little run yesterday after the company revealed a link up with a fellow generic maker from China to try and make deeper inroads into the US contraceptive market.

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Broker News

MYX – Macquarie rates the stock as Neutral

February 24, 2020 - by Broker News

Reported operating earnings (EBITDA) were below Macquarie’s estimates. Generics revenue fell by -33% with underlying gross margins down -11%. Meanwhile, growth in specialty brands moderated.

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Broker News

MYX – UBS rates the stock as Neutral

December 16, 2019 - by Broker News

Mayne Pharma has completed its response to the US FDA regarding its generic NuvaRing application, although any approval is not anticipated before the second half of 2020.

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Shares

Mayne Pharma Aspires To Specialisation

November 25, 2019November 25, 2019 - by Eva Brocklehurst

Mayne Pharma aspires to have more than 60% of its FY24 revenue from US specialty products, although significant challenges in generics are likely to beset the business in the interim.

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Broker News

MYX – UBS rates the stock as Neutral

November 25, 2019 - by Broker News

The company has indicated that gross revenue for the first four months of FY20 is down -16%. Key products in generics, liothyronine, and dofetilide, continue to lose share to competitors. Specialty revenue was broadly flat. Contract services revenue increased by 16%.

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Shares

Red Alert: 7-Eleven Closes On Metcash, Gentrack Off Track, Mayne Pharma Pain

November 22, 2019November 22, 2019 - by Glenn Dyer

Bad news Friday, at least for three ASX-listed companies. 7-Eleven’s decision to walk away on a supply deal has left Metcash shares deep in the red while Gentrack and Mayne Pharma have disappointed investors with new profit warnings.

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Broker News

MYX – Credit Suisse rates the stock as Neutral

November 18, 2019November 18, 2019 - by Broker News

The launch of new generic drugs fentora and efudex has been strong, with 40% and 30% market share respectively. Yet Credit Suisse suspects this has not been enough to offset competition and earnings decline in the first half.

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Broker News

MYX – Credit Suisse rates the stock as Neutral

October 3, 2019 - by Broker News

The company has signed an exclusive licence and supply agreement to commercialise a combined oral contraceptive in the US for total consideration of US$295m. The product is to be launched in the second half of FY21, subject to FDA approval.

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Shares

Mayne Pharma Rockets On US Contraceptive Deal

October 3, 2019October 2, 2019 - by Glenn Dyer

Mayne Pharma shares jumped nearly 19% yesterday a near five-month high after the company revealed an exclusive long-term deal to sell a new contraceptive drug in the USA.

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Shares

Earnings Shorts: Mayne Pharma, Costa Group

August 26, 2019 - by Glenn Dyer

A big loss for generics pharmaceuticals maker Mayne Pharma in 2018-19 surprisingly produced a big gain, meanwhile listed horticulture producer and distributor Costa Group has reported a 15% drop in statutory interim profit.

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Broker News

MYX – Credit Suisse rates the stock as Neutral

July 16, 2019July 16, 2019 - by Broker News

Credit Suisse reviews script volume trends for the company’s key generic and specialty brands. With limited improvement in the final six weeks of FY19 the broker envisages downside risk to consensus forecasts.

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Broker News

MYX – Credit Suisse rates the stock as Downgrade to Neutral from Outperform

May 15, 2019 - by Broker News

The company has announced a significant deterioration in the performance of its generic products since the first half results because of increased competition and US$4m in one-off adverse items. The high-margin specialty brands revenue is also weaker than expected.

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Shares

Generic Medicine Margins Pressure Mayne Pharma

May 15, 2019May 14, 2019 - by Glenn Dyer

A rather severe confession time yesterday from generic drug group, Mayne Pharma with a warning of a big slide in revenue and profit and a possible write-down of asset values.

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Broker News

MYX – UBS rates the stock as Neutral

February 25, 2019 - by Broker News

Mayne Pharma’s result was a big improvement on a weak previous period but was currency-assisted and disappointed nonetheless. Specialty brands stood out in revenue terms, the broker notes, but costs were elevated for various reasons.

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Shares

‘Soft’ Mayne Pharma Disappoints

November 29, 2017 - by Glenn Dyer

Generic drugs group, Mayne Pharma saw its shares dip yesterday in the wake of yet another poor trading update.

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Shares

Mayne Pharma Trading Update Falls Short

August 9, 2017 - by Glenn Dyer

Generic drug group, Mayne Pharma disappointed investors yesterday with the release of preliminary results for 2016-17 underwhelming investors.and sending the shares down nearly 10% to 81 cents.

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Shares

Mayne Pharma Faces Trump Headwinds

May 2, 2017 - by Glenn Dyer

Mayne Pharma Group’s (MYX) share price fell more than 10% to $1.20 yesterday and for that you can partly blame President Donald Trump and his erratic talk about controlling drug prices.

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Shares

Mayne Pharma Delivers

August 29, 2016 - by Glenn Dyer

Drug maker Mayne Pharma (MYX) is one of those rare stocks where investors expect much more from it in the coming year, than they saw in the year to June 30.

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Shares

Mayne Pharma confirms over half a billion successful institutional placement, shares surged 28%

June 30, 2016 - by Glenn Dyer

Mayne Pharma shares surged 28% yesterday after the company confirmed it had raised over half a billion in an institutional placement at $1.50 a share and rights issue as part of its dramatic move into the competitive US generic drugs market.

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James Dunn

Mayne Event Positions Drugmaker For Turnaround

September 30, 2015 - by James Dunn

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Paxalisib Misses AGILE Hurdle, but Very Significant Value Remains

Investors Over-React, Smart Ones Will Profit

Kazia Therapeutics (KZA) announced yesterday morning that paxalisib did not meet the threshold to move into stage 2 of the GBM AGILE clinical trial (NCT03970447). The study was an adaptive trial designed to assess the potential of new therapeutics to treat the highly aggressive brain cancer glioblastoma (GBM) in a cost-effective manner. Demonstrating efficacy in GBM is an extremely high hurdle as shown by the fact that there is only one approved drug for the disease, temozolomide, and it is only effective in 1/3 of patients.

Given the high nature of the hurdle, in our original initiating coverage report on KZA, we only gave paxalisib a small chance of returning a positive result from the overall study. That is the nature of drug development with one group estimating only 6% to 7% of new chemical entities that commence clinical trials reach launch (Dowden & Munro (2019) Nat Rev Drug Discov). The small percentage that do make it to launch, however, more than make up for the cash spent on those that don’t.

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    The Cash keeps coming

    Terracom will report their FY2022 results in September 2022. In the last two months there have been a number of company announcements that have given us improved visibility on our earnings forecasts and valuation metrics so we have taken this opportunity to update our numbers.

    With the combination of geopolitical factors in the northern hemisphere as well as disruption from other supply regions, we believe the visibility on export coal prices over the next 12 months has also improved since our March note.

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      Acquisitions underpin strong near term growth opportunities not reflected in share price

      Stealth Global Holdings (SGI) provides direct exposure to the growing industrial consumables market, driven by favourable conditions across key industries, expanding industrialisation and improving workplace safety regulations. Around 95% of revenue is attributable to non-discretionary items.

      Based on our current forecasts, we derive a DCF equity value for SGI of $0.33 per share, with potential upside if full synergies can be extracted. We note SGI is currently trading on very undemanding forward multiples.

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        4Q reveals more focus on profit and cash flow

        • LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
        • Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.

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          Signs MOU with Ford Company – Kachi is now sold out!

          Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded.

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            Strategic Vanadium-battery growth with Titanium & Iron earnings resiliency

            TNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines.

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              Promising exploration and development update while SOP prices continue to rise

              Two recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell.

              TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade.

              Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn.

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                Biopharmas Hit, but Buying Opportunities Created

                The news being reported about the performance of biotechnology has been dour, to say the least, for some time now. Those dour articles have been deserved with the iShares Biotechnology Exchange-Traded Fund down 25% and the SPDR® S&P® Biotech ETF is down 45% from their highs. However, those articles are backward-looking, and successful investors need to be looking forward.

                Recently, however, an article in Nature Reviews Drug Discovery caught our eye which we believe should point the way forward for the vast majority of Australian biotechnology investors. This article indicates that, at least, two companies, Antisense Therapeutics (ANP) and Kazia Therapeutics (KZA), are right in the sweet spot in terms of the future of drug development.

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                  Hitting goals – Making four material announcements

                  We initiated on Magnis Energy Technologies (MNS.ASX) in December 2021 and since then, MNS has made four material announcements. Firstly; a conditional offtake contract for 600,000t of graphite concentrate from the Tanzanian Nachu Project (net 100%) was signed with Traxys, a global
                  commodities merchant with annual revenue of ~US$6Bn; secondly; semi autonomous production has started at battery gigafactory iM3NY, thirdly;
                  exciting Extra Fast Charge battery tests were reported and most recently, the game changing launch of the Lithium Slim Energy Reserve battery platform, which supports C4V’s growing EFC capability.

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                    Increasing our Target

                    Despite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics.

                    We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d.

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                      Emerging Financial Wealth Advisory Group

                      WT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand.

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                        Immutep Taking the Fight to Cancer

                        In May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti).

                        This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20.

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                          Phillips 66 to acquire 16% in NVX – 12-month target price rises 7% through project de-risking

                          Phillips 66 (PSX) has entered into an agreement with NVX to acquire 77.9m new shares for US$150m (A$203m). PSX is the worlds largest producer of speciality petroleum coke a precursor for battery grade synthetic graphite anode materials found with an Enterprise Value of US$47.5Bn and assets of US$57Bn.

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                            Market leading lifelong learning platform technology company in Australia and SE Asia

                            PayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion.

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                              Market leading lifelong learning platform technology company in Australia and SE Asia

                              OpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia.

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