Medexus Pharmaceuticals reported solid fiscal Q3 2026 results, reflecting strong early performance from GRAFAPEX amid a challenging revenue environment, generating net revenue of $25.3 million.
- GRAFAPEX achieved $2 million in product level net revenue during Q3, with expectations to reach $11-$12 million for the entire fiscal year.
- The company saw a strong rebound in patient demand in January 2026, with a forecast of $3 million to $4 million in net revenue for fiscal Q4.
- Despite a year-over-year net revenue decline, adjusted EBITDA of $4.5 million shows positive operating income for the third consecutive quarter.
- Investments in IXINITY manufacturing have led to a 30% reduction in product costs since its acquisition.
- Rupall faces ongoing generic competition, with anticipated stabilization in future sales declines.
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