Board Change • Mar 09
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Non-Executive Director David Petrie was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 19
Mayne Pharma Group Limited to Report First Half, 2026 Results on Feb 23, 2026 Mayne Pharma Group Limited announced that they will report first half, 2026 results on Feb 23, 2026 Announcement • Jan 15
Mayne Pharma Receives Notice of Appeal Filed by Cosette and Its Bidco with the Supreme Court of New South Wales, Court of Appeal Mayne Pharma Group Limited refers to its announcement on 16 October 2025 relating to the judgment delivered on 15 October 2025 in which the Supreme Court of New South Wales found in favour of Mayne Pharma and its announcement on 10 November 2025 regarding a notice of intention to appeal filed by Cosette Pharmaceuticals Inc. (Cosette) and its BidCo. Mayne Pharma has received a notice of appeal filed by Cosette and its BidCo with the Supreme Court of New South Wales, Court of Appeal. The two grounds set out in the notice of appeal seek to challenge various of the Court's findings related to: Mayne Pharma's FY25 EBITDA the subject of Cosette's misleading and deceptive conduct claim; and Cosette's allegation that a Mayne Material Adverse Change had occurred on the basis of Cosette's pleaded Third Quarter FY25 Sales Performance Matters. Announcement • Jan 14
Mayne Pharma Group Limited Announces Board Changes Effective January 14, 2026 Mayne Pharma Group Limited announced that the Board of Directors has decided to reduce the size of the Board. Mr. Frank Condella, Board Chair, will retire from the Board effective January 14, 2026. Mr. Condella has served as a director of Mayne Pharma since May 2018 and as Board Chair since September 2021. Non-Executive directors Mr. Patrick Blake and Mrs. Anne Lockwood will step down from the Board following the release of the Company’s half year results in February 2026 to focus on other opportunities. Mr. Blake has served as a director since June 2018. Mrs. Lockwood has served as a director since November 2023. Professor Bruce Robinson has been appointed as Non-Executive Chair of the Board effective January 14, 2026. Professor Robinson was appointed a Non-Executive Director of the Company in August 2014. He is a Non-Executive Director of Cochlear Limited and CS Pharmaceuticals Limited. He is formerly a Board Member of the Woolcock Institute, was Chair of the National Health and Medical Research Council and Chair of the Medical Benefits Review Taskforce. Professor Robinson is Chair of the Science, Technology and Medical Committee and a member of the Nomination Committee. Announcement • Dec 22
Mayne Pharma Group Limited, Annual General Meeting, Jan 29, 2026 Mayne Pharma Group Limited, Annual General Meeting, Jan 29, 2026. Location: minter ellison office, level 20, collins arch, 447 collins st, and, melbourne Australia New Risk • Nov 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (AU$40m net loss next year). Share price has been volatile over the past 3 months (15% average weekly change). Board Change • Nov 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. Independent Non Executive Director Anne Lockwood was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Oct 03
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: AU$90m Forecast net loss in 1 year: AU$40m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 31
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: AU$1.14 loss per share (improved from AU$2.12 loss in FY 2024). Revenue: AU$408.1m (up 5.1% from FY 2024). Net loss: AU$90.1m (loss narrowed 47% from FY 2024). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 21% growth forecast for the Pharmaceuticals industry in Australia. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings have declined by 3.4% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$12m free cash flow). Earnings have declined by 3.4% per year over the past 5 years. Announcement • Aug 01
Mayne Pharma Group Limited to Report Fiscal Year 2025 Results on Aug 29, 2025 Mayne Pharma Group Limited announced that they will report fiscal year 2025 results on Aug 29, 2025 New Risk • Jul 29
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: AU$118m Forecast net loss in 2 years: AU$5.7m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-AU$12m free cash flow). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (AU$5.7m net loss in 2 years). Announcement • Apr 10
TherapeuticsMD, Inc. Files Lawsuit Against Mayne Pharma for Contract Breaches On April 8, 2025, TherapeuticsMD Inc., a Nevada corporation (the “Company”), filed a lawsuit against Mayne Pharma LLC (“Mayne Pharma”) in the United States District Court for the District of Delaware (the “Mayne Lawsuit”) seeking damages for breach of contract, breach of the implied covenant of good faith and fair dealing, fraudulent inducement, and unjust enrichment related to Mayne Pharma’s actions in relation to the License Agreement, dated December 4, 2022, as amended, between the Company and Mayne Pharma and the Transaction Agreement, dated December 4, 2022, as amended, between the Company and Mayne Pharma. The Mayne Lawsuit primarily pertains to the previously disclosed disputes between the Company and Mayne Pharma relating to certain net working capital allowances and certain actions or inactions by Mayne Pharma relating thereto. The Mayne Lawsuit is TherapeuticsMD Inc. v. Mayne Pharma LLC, Case No. not assigned (D. Del.). Reported Earnings • Feb 27
First half 2025 earnings released: AU$0.25 loss per share (vs AU$0.88 loss in 1H 2024) First half 2025 results: AU$0.25 loss per share (improved from AU$0.88 loss in 1H 2024). Revenue: AU$213.1m (up 13% from 1H 2024). Net loss: AU$20.0m (loss narrowed 72% from 1H 2024). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 43% growth forecast for the Pharmaceuticals industry in Australia. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Price Target Changed • Feb 24
Price target increased by 9.6% to AU$6.68 Up from AU$6.09, the current price target is an average from 2 analysts. New target price is 7.3% below last closing price of AU$7.20. The company is forecast to post a net loss per share of AU$0.18 next year compared to a net loss per share of AU$2.12 last year. Announcement • Feb 22
Cosette Pharmaceuticals, Inc. agreed to acquire Mayne Pharma Group Limited (ASX:MYX) from Viburnum Funds Pty Ltd, Bruce Mathieson and others for approximately AUD 600 million. Cosette Pharmaceuticals, Inc. agreed to acquire Mayne Pharma Group Limited (ASX:MYX) from Viburnum Funds Pty Ltd, Bruce Mathieson and others for approximately AUD 600 million on February 20, 2025. A cash consideration of AUD 601.22 million valued at AUD 7.4 per share will be paid by Cosette Pharmaceuticals, Inc. As part of consideration, AUD 601.22 million is paid towards common equity of Mayne Pharma Group Limited. The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by target shareholders and subject to court approval. The deal has been unanimously approved by the board. The expected completion of the transaction is May 21, 2025 to June 10, 2025. Jefferies Pty Ltd acted as financial advisor for Mayne Pharma Group Limited. Arnold & Porter Kaye Scholer LLP acted as legal advisor for Mayne Pharma Group Limited. Gilbert and Tobin acted as legal advisor for Mayne Pharma Group Limited. Ropes & Gray LLP acted as legal advisor for Cosette Pharmaceuticals, Inc. Corrs Chambers Westgarth acted as legal advisor for Cosette Pharmaceuticals, Inc. UBS Securities LLC acted as financial advisor for Cosette Pharmaceuticals, Inc. Santander US Capital Markets LLC acted as financial advisor for Cosette Pharmaceuticals, Inc. New Risk • Feb 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-AU$36m free cash flow). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Major Estimate Revision • Dec 03
Consensus EPS estimates upgraded to AU$0.18 loss, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from AU$434.5m to AU$418.1m. 2025 losses expected to reduce from -AU$0.222 to -AU$0.184 per share. Pharmaceuticals industry in Australia expected to see average net income decline 0.6% next year. Consensus price target broadly unchanged at AU$6.10. Share price rose 14% to AU$5.42 over the past week. Price Target Changed • Aug 28
Price target decreased by 12% to AU$6.09 Down from AU$6.89, the current price target is an average from 2 analysts. New target price is 18% above last closing price of AU$5.16. Stock is up 8.6% over the past year. The company is forecast to post a net loss per share of AU$0.22 next year compared to a net loss per share of AU$2.12 last year. New Risk • Aug 23
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$36m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-AU$36m free cash flow). Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (AU$2.1m net loss in 2 years). Reported Earnings • Aug 23
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: AU$2.12 loss per share (improved from AU$3.86 loss in FY 2023). Revenue: AU$388.4m (up 112% from FY 2023). Net loss: AU$168.6m (loss narrowed 47% from FY 2023). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 102%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 47% growth forecast for the Pharmaceuticals industry in Australia. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Breakeven Date Change • May 18
No longer forecast to breakeven The 2 analysts covering Mayne Pharma Group no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$17.8m in 2026. New consensus forecast suggests the company will make a loss of AU$2.05m in 2026. New Risk • May 17
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: AU$274m Forecast net loss in 2 years: AU$11m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. This is currently the only risk that has been identified for the company. Major Estimate Revision • Mar 03
Consensus revenue estimates increase by 14%, EPS downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from AU$337.6m to AU$384.3m. EPS estimate fell from -AU$0.733 to -AU$1.02 per share. Pharmaceuticals industry in Australia expected to see average net income decline 32% next year. Consensus price target up from AU$4.65 to AU$7.04. Share price rose 30% to AU$6.80 over the past week. Reported Earnings • Feb 28
First half 2024 earnings released: AU$0.88 loss per share (vs AU$1.38 loss in 1H 2023) First half 2024 results: AU$0.88 loss per share (improved from AU$1.38 loss in 1H 2023). Revenue: AU$187.9m (up 260% from 1H 2023). Net loss: AU$70.5m (loss narrowed 38% from 1H 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Pharmaceuticals industry in Australia. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Breakeven Date Change • Feb 27
Forecast to breakeven in 2026 The 2 analysts covering Mayne Pharma Group expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 91% per year to 2025. The company is expected to make a profit of AU$17.8m in 2026. Average annual earnings growth of 110% is required to achieve expected profit on schedule. Announcement • Feb 12
Mayne Pharma Group Limited to Report First Half, 2024 Results on Feb 26, 2024 Mayne Pharma Group Limited announced that they will report first half, 2024 results on Feb 26, 2024 Board Change • Dec 07
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Anne Lockwood was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Dec 06
Consensus estimates of losses per share improve by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from AU$313.7m to AU$337.6m. EPS estimate increased from -AU$0.844 per share to -AU$0.733 per share. Pharmaceuticals industry in Australia expected to see average net income growth of 24% next year. Consensus price target up from AU$3.90 to AU$4.65. Share price rose 7.4% to AU$5.55 over the past week. Announcement • Nov 30
Mayne Pharma Group Limited Approves Election of Anne Lockwood Mayne Pharma Group Limited at its AGM approved election of Anne Lockwood. Announcement • Oct 27
Mayne Pharma Group Limited, Annual General Meeting, Nov 30, 2023 Mayne Pharma Group Limited, Annual General Meeting, Nov 30, 2023, at 10:00 AUS Eastern Standard Time. Location: MinterEllison Offices, Lvl 20, Collins Arch, 447 Collins St Melbourne Australia Agenda: To consider and approve the statutory reports for the financial year ended 30 June 2023; to consider and approve the election of Director; to consider and approve the remuneration report; to consider and approve the Short-Term Incentive grant of Restricted Stock Unit Performance Rights and a Long-Term Incentive grant of Performance Rights to the CEO and Managing Director; to consider and approve the appointment of BDO Audit Pty Ltd as the Company's auditor; and to consider and approve the extension of the on-market share buy-back. Recent Insider Transactions • Oct 26
Independent Non-Executive Director recently bought AU$69k worth of stock On the 25th of October, Kathryn MacFarlane bought around 18k shares on-market at roughly AU$3.84 per share. This transaction amounted to 90% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$409k more in shares than they have sold in the last 12 months. Major Estimate Revision • Oct 25
Consensus estimates of losses per share improve by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from AU$300.3m to AU$313.7m. EPS estimate increased from -AU$0.967 per share to -AU$0.844 per share. Pharmaceuticals industry in Australia expected to see average net income growth of 23% next year. Consensus price target up from AU$3.24 to AU$3.50. Share price rose 26% to AU$3.93 over the past week. Reported Earnings • Sep 01
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: AU$3.86 loss per share (further deteriorated from AU$3.20 loss in FY 2022). Revenue: AU$183.6m (down 57% from FY 2022). Net loss: AU$317.4m (loss widened 21% from FY 2022). Revenue missed analyst estimates by 31%. Earnings per share (EPS) exceeded analyst estimates significantly. Revenue is forecast to grow 37% p.a. on average during the next 2 years, compared to a 1.6% decline forecast for the Pharmaceuticals industry in Australia. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 20% per year. New Risk • Aug 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$287m). Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (AU$52m net loss in 2 years). Announcement • Aug 24
Mayne Pharma Group Limited to Report Fiscal Year 2023 Results on Aug 31, 2023 Mayne Pharma Group Limited announced that they will report fiscal year 2023 results on Aug 31, 2023 Announcement • Jul 27
Mayne Pharma Group Limited Announces Retirement of Carolyn Myers from the Board At the End of July 2023 Mayne Pharma Group Limited announced that Dr. Carolyn Myers will retire from the Board at the end of July 2023.Dr Myers has served as a Director of Mayne Pharma since October 2021. She was appointed to theBoard after being nominated by Mithra Pharmaceuticals SA under the terms of the license andsupply agreement to commercialise NEXTSTELLIS® (E4/DRSP) oral contraceptive in the UnitedStates. Recent Insider Transactions • Mar 28
Independent Non-Executive Chairman recently bought AU$74k worth of stock On the 27th of March, Frank Condella bought around 21k shares on-market at roughly AU$3.52 per share. This transaction amounted to 56% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Frank's only on-market trade for the last 12 months. Major Estimate Revision • Mar 06
Consensus revenue estimates fall by 19% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from AU$332.0m to AU$268.9m. Forecast losses increased from -AU$0.709 to -AU$1.03 per share. Pharmaceuticals industry in Australia expected to see average net income growth of 21% next year. Consensus price target down from AU$5.06 to AU$4.03. Share price rose 22% to AU$3.84 over the past week. Price Target Changed • Mar 02
Price target decreased by 24% to AU$3.86 Down from AU$5.06, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of AU$3.94. Stock is down 12% over the past year. The company is forecast to post a net loss per share of AU$0.71 next year compared to a net loss per share of AU$3.20 last year. Reported Earnings • Mar 01
First half 2023 earnings released: AU$0.078 loss per share (vs AU$0.62 loss in 1H 2022) First half 2023 results: AU$0.078 loss per share. Revenue: AU$101.2m (down 49% from 1H 2022). Net loss: AU$129.1m (loss widened 156% from 1H 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Pharmaceuticals industry in Australia. Announcement • Jan 14
Mayne Pharma Group Limited and Mithra Pharmaceuticals, SA Announces US Launch of Haloette, a Generic Version of Nuvaring Mayne Pharma Group Limited and Mithra Pharmaceuticals, SA announced the launch of HALOETTE (etonogestrel and ethinyl estradiol) a vaginal hormonal contraceptive ring into the US market. HALOETTE contraceptive is a generic version of NUVARING, a combined hormonal contraceptive flexible ring indicated for the prevention of pregnancy. Under the terms of the long-term license and supply agreement, Mayne Pharma will pay Mithra a milestone of EUR 1.6 million. Upcoming Dividend • Jan 11
Inaugural dividend of AU$0.065 per share Eligible shareholders must have bought the stock before 18 January 2023. Payment date: 27 January 2023. The company last paid an ordinary dividend in . The average dividend yield among industry peers is 2.3%. Major Estimate Revision • Dec 10
Consensus revenue estimates fall by 11% The consensus outlook for revenues in 2023 has deteriorated. 2023 revenue forecast decreased from AU$395.3m to AU$350.1m. Forecast losses increased from -AU$0.02 to -AU$0.04 per share. Pharmaceuticals industry in Australia expected to see average net income growth of 21% next year. Consensus price target down from AU$0.37 to AU$0.28. Share price fell 15% to AU$0.20 over the past week. Major Estimate Revision • Dec 02
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast fell from AU$428.0m to AU$345.1m. EPS estimate unchanged from -AU$0.034 per share at last update. Pharmaceuticals industry in Australia expected to see average net income growth of 21% next year. Consensus price target down from AU$0.41 to AU$0.28. Share price fell 13% to AU$0.24 over the past week. Price Target Changed • Dec 01
Price target decreased to AU$0.37 Down from AU$0.41, the current price target is an average from 4 analysts. New target price is 55% above last closing price of AU$0.24. Stock is down 9.4% over the past year. The company is forecast to post a net loss per share of AU$0.022 next year compared to a net loss per share of AU$0.16 last year. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO, MD & Director Shawn O’Brien was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO, MD & Director Shawn O’Brien was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 29
Mayne Pharma Group Limited Declares Fully Franked Special Dividend, Payable on 27 January 2023 Mayne Pharma Group Limited declared a fully franked special dividend of approximately $47.3 million (2.72 cents per share) The Special Dividend and Capital Return are expected to be paid to shareholders on 27 January 2023, subject to the timing of feedback from the ATO and shareholder approval at Mayne Pharma's Annual General Meeting (AGM) to be held on the 30 November 2022. Price Target Changed • Sep 06
Price target decreased to AU$0.40 Down from AU$0.43, the current price target is an average from 4 analysts. New target price is 41% above last closing price of AU$0.28. Stock is down 13% over the past year. The company is forecast to post a net loss per share of AU$0.022 next year compared to a net loss per share of AU$0.16 last year. Announcement • Aug 31
Mayne Pharma Group Limited Announces Management Changes Mayne Pharma Group Limited announced that Mr. David Petrie has accepted an invitation to join the Board of Mayne Pharma, effective 1 September 2022. The Company announced that Mr. Ian Scholes, Deputy Chair will retire from the Board at the end of September 2022. Mr. Petrie is an accomplished M&A executive with over 30 years of advisory experience in public and private mergers and acquisitions, capital management and debt and equity raisings. He is currently Principal at Stratford Advisory Group, an independent corporate and financial advisory firm. Previously, he spent 23 years at Merrill Lynch/Bank of America including Managing Director and Head of Investment Banking Melbourne. He has worked on more than 100 transactions across a range of market sectors including healthcare. Mr. Scholes has served as a Director of Mayne Pharma since October 2007 and is currently the Chair of the Audit and Risk Committee and a member of the Remuneration and People Committee and Nomination Committee. Mr. Petrie has a Bachelor of Commerce (Honours) and Bachelor of Law (Honours) from the University of Melbourne. He has been a CPA for 30 years and is admitted as Barrister and Solicitorof the Supreme Court of Victoria. Mr. Petrie will also join Mayne Pharma's Audit and Risk Committee and the Remuneration and People Committee. Reported Earnings • Aug 27
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: AU$0.16 loss per share (down from AU$0.13 loss in FY 2021). Revenue: AU$424.8m (up 6.0% from FY 2021). Net loss: AU$263.3m (loss widened 26% from FY 2021). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 302%. Over the next year, revenue is expected to shrink by 4.8% compared to a 751% growth forecast for the Pharmaceuticals industry in Australia. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Aug 19
Scott Richards Plans to Retire as CEO of Mayne Pharma Group Limited Mayne Pharma Group Limited announced that Chief Executive Officer (CEO) Scott Richards has announced his intention to retire following a decision by the Board to relocate the CEO role to the US on a permanent basis. Mr. Richards is unable to make this commitment and wants to return to Australia for personal reasons. Mr. Richards joined Mayne Pharma in February 2012 and has spent more than 10 years in the CEO role including the last five years in the US on a temporary basis. It is planned that he will continue as CEO while the Board conducts a process for a timely and orderly transition to a new US-based CEO and until a smooth handover has been completed. Price Target Changed • Aug 17
Price target increased to AU$0.43 Up from AU$0.37, the current price target is an average from 4 analysts. New target price is 13% above last closing price of AU$0.39. Stock is up 33% over the past year. The company is forecast to post a net loss per share of AU$0.04 next year compared to a net loss per share of AU$0.13 last year. Announcement • Jul 22
Mayne Pharma Group Limited Announces CFO Changes Mayne Pharma Group Limited advised that Mr. Aaron Gray has been appointed as Chief Financial Officer (CFO), effective 29 August 2022. This follows the Company's decision to relocate the CFO role to the commercial office in Raleigh, North Carolina, USA to be co-located with the CEO and other key commercial franchises. Aaron, a USA resident based in North Carolina brings more than 20 years of experience to the role. For the last six years, Aaron has been in senior finance roles at Siemens Healthineers, a leading global medical technology company with EUR20b in revenues and 48,000 employees globally. Most recently, he was Senior Vice President - USA Customer Finance with EUR5b in revenues. Prior to Siemens Healthineers, he spent 15 years in finance roles at Siemens, AG energy divisions. Aaron has a Bachelor of Science in Finance and Master of Business Administration (MBA) from theUniversity of Central Florida. Mr. Peter Paltoglou will continue as CFO until the release of Mayne Pharma's fiscal year 2022 results on 26 August 2022. Peter has agreed to remain with Mayne Pharma to assist with transition until 30 September 2022. Price Target Changed • Apr 27
Price target decreased to AU$0.36 Down from AU$0.47, the current price target is an average from 4 analysts. New target price is 30% above last closing price of AU$0.28. Stock is down 36% over the past year. The company is forecast to post a net loss per share of AU$0.047 next year compared to a net loss per share of AU$0.13 last year. Breakeven Date Change • Feb 28
Forecast breakeven date pushed back to 2024 The 5 analysts covering Mayne Pharma Group previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 66% per year to 2023. The company is expected to make a profit of AU$16.9m in 2024. Average annual earnings growth of 91% is required to achieve expected profit on schedule. Reported Earnings • Feb 28
First half 2022 earnings: EPS and revenues miss analyst expectations First half 2022 results: AU$0.031 loss per share (up from AU$0.12 loss in 1H 2021). Revenue: AU$196.4m (down 5.9% from 1H 2021). Net loss: AU$50.4m (loss narrowed 72% from 1H 2021). Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 21%, compared to a 358% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Feb 26
Consensus EPS estimates fall by 97% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from AU$454.7m to AU$448.7m. Losses expected to increase from AU$0.02 per share to AU$0.04. Pharmaceuticals industry in Australia expected to see average net income growth of 22% next year. Consensus price target broadly unchanged at AU$0.47. Share price fell 11% to AU$0.24 over the past week. Announcement • Feb 10
Mayne Pharma Expands U.S Dermatology Portfolio Mayne Pharma Group Limited announced it has launched an authorised generic (AG) of one of the larger dermatology products in the United States. Mayne Pharma entered into a license and supply agreement with one of the larger dermatology companies to distribute this product in non-retail channels. Price Target Changed • Dec 06
Price target increased to AU$0.48 Up from AU$0.45, the current price target is an average from 5 analysts. New target price is 85% above last closing price of AU$0.26. Stock is down 30% over the past year. The company is forecast to post a net loss per share of AU$0.019 next year compared to a net loss per share of AU$0.13 last year. Board Change • Dec 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Director Carolyn Myers was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 31
High number of new directors Independent Non-Executive Deputy Chairman Ian Scholes was the last director to join the board, commencing their role in 2021. Executive Departure • Oct 07
Independent Non Executive Director Bruce Mathieson has left the company On the 30th of September, Bruce Mathieson's tenure as Independent Non Executive Director ended after 14.6 years in the role. As of June 2021, Bruce still personally held 105.58m shares (AU$34m worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.92 years. Executive Departure • Oct 07
Independent Chairman Roger Corbett has left the company On the 30th of September, Roger Corbett's tenure as Independent Chairman ended after 10.7 years in the role. As of June 2021, Roger still personally held 10.44m shares (AU$3.3m worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.92 years. Executive Departure • Oct 07
Independent Chairman Roger Corbett has left the company On the 30th of September, Roger Corbett's tenure as Independent Chairman ended after 10.7 years in the role. As of June 2021, Roger still personally held 10.44m shares (AU$3.3m worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.92 years. Announcement • Sep 24
U.S. Food and Drug Administration Approves Mayne Pharma LEXETTE for Adolescent Plaque Psoriasis Mayne Pharma announced that the U.S. Food and Drug Administration has approved LEXETTE® (halobetasol propionate) foam, 0.05% for use in adolescents. LEXETTE, a super potent topical corticosteroid, is now approved for the treatment of plaque psoriasis in patients aged 12 years and older. The FDA approved LEXETTE in 2018 based on evidence from two multicentre, randomized, double-blind, vehicle-controlled studies (n=560) in patients with plaque psoriasis involving between 2% to 12% body surface area. Additional data were obtained in a follow-on open label study in patients aged 12 to 17 years of age with plaque psoriasis. Psoriasis is a chronic inflammatory disease affecting approximately 8 million Americans each year and 1% of children and adolescents in the US. The most common form, plaque psoriasis, affects roughly 80% of people who have the condition. Recent Insider Transactions • Sep 04
Independent Non-Executive Director recently bought AU$137k worth of stock On the 1st of September, Frank Condella bought around 412k shares on-market at roughly AU$0.33 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Price Target Changed • Aug 30
Price target decreased to AU$0.42 Down from AU$0.46, the current price target is an average from 7 analysts. New target price is 45% above last closing price of AU$0.29. Stock is down 15% over the past year. Reported Earnings • Aug 29
Full year 2021 earnings released: AU$0.13 loss per share (vs AU$0.061 loss in FY 2020) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2021 results: Revenue: AU$400.8m (down 12% from FY 2020). Net loss: AU$208.4m (loss widened 125% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has fallen by 40% per year, which means it is performing significantly worse than earnings. Announcement • Mar 07
Mayne Pharma Announces New Data Showing Treatment with Nextstellis® Investigational Combined Oral Contraceptive (Coc) Containing Drospirenone (Drsp) and Estetrol Mayne Pharma announced new data showing treatment with NEXTSTELLIS®,1 a novel, investigational combined oral contraceptive (COC) containing drospirenone (DRSP) and estetrol (E4), resulted in limited changes in endocrine markers, including lower increases in hormone binding globulins, compared with COCs based on ethinyl-estradiol (EE), the synthetic estrogen used in all but one of the marketed COCs. The data was presented at the annual meeting of the International Society for the Study of Women's Sexual Health (ISSWSH), held virtually in the U.S. from March 5-7. Historically, some COCs have been associated with a decrease in circulating androgens and increases in hormone binding globulins. These endocrine changes can result in hormonal imbalance and have been associated with side effects such as acne, excess facial and body hair, or changes in libido. In a phase 2 study, titled "Endocrine and metabolic effects of an oral contraceptive containing estetrol and drospirenone," the changes from the baseline serum concentration of various endocrine and liver protein markers at cycle 3 and 6 were determined in subjects receiving NEXTSTELLIS or a COC formulation containing EE combined with either levonorgestrel (LNG/EE) or drospirenone (DRSP/EE). Comparative findings include: A significant increase in sex hormone-binding globulin (SHBG) was observed at cycle 3 (240%) and 6 (251%) with DRSP/EE as compared to baseline or those observed with NEXTSTELLIS (52% and 55%). LNG/EE was not significantly different at cycle 3 or 6. At cycle 6, decrease in total testosterone (TT) and free testosterone (FT) with NEXTSTELLIS (31% and 50%) was not significantly different from those noted with LNG/EE (38% and 50%) or DRSP/EE (33% and 71%). At cycle 3, there were no decreases noted in any group. At cycle 6, NEXTSTELLIS had a significantly lower impact on dehydroepiandrosterone sulfate (DHEA-S) levels than DRSP/EE (10% vs. 27%). No differences were noted between DRSP/E4 and LNG/EE. In the randomized, open-label, three-arm parallel study, participants received DRSP 3 mg/E4 15 mg (n = 38), LNG 150 mcg/EE 30 mcg (n = 29), or DRSP 3 mg/EE 20 mcg (n = 31) in a 24/4-day regimen of six consecutive, 28-day treatment cycles. Changes from baseline in serum TT, FT, androstenedione, DHEA-S, cortisol binding globulin (CBG), SHBG, and thyroxine binding globulin (TBG) were determined at cycle 3 and 6. Developed by Mayne Pharma's development and manufacturing partner Mithra Pharmaceuticals SA, NEXTSTELLIS® is a novel, investigational combined oral contraceptive pill containing 3 mg drospirenone (DRSP) and 15 mg estetrol (E4). E4 is a naturally occurring estrogen that is produced by the human fetal liver during pregnancy and can now be produced from a plant source. In June 2020, the U.S. Food and Drug Administration (FDA) accepted for review a New Drug Application (NDA) submitted by Mayne Pharma for NEXTSTELLIS to prevent pregnancy. The NDA submission included results from two phase 3 clinical studies conducted in more than 3,725 women aged 16 to 50 years. If approved, NEXTSTELLIS would be the first contraceptive product containing E4 and the first new estrogen introduced in the U.S. for contraceptive use in approximately 50 years. Announcement • Mar 05
Mayne Pharma Group Limited Launches Another Generic Oral Contraceptive Mayne Pharma Group Limited announced the commercial launch of a generic version of ORTHO-CEPT® (desogestrel and ethinyl estradiol 0.15 mg /0.03 mg) tablets to customers in the US. This is the fourth oral contraceptive launched this calendar year after launching generic versions of LOESTRIN® 24 FE, ORTHO CYCLEN® and ORTHO TRI-CYCLEN®. Major Estimate Revision • Mar 02
Analysts lower EPS estimates to -AU$0.094 The 2021 consensus revenue estimate was lowered from AU$441.1m to AU$423.5m. The company's losses are expected to worsen with analysts lowering their EPS forecasts from -AU$0.011 to -AU$0.094 for the same period. The Pharmaceuticals industry in Australia is expected to see an average net income growth of 19% next year. The consensus price target was lowered from AU$0.39 to AU$0.34. Share price is down by 11% to AU$0.28 over the past week. Price Target Changed • Feb 26
Price target lowered to AU$0.35 Down from AU$0.39, the current price target is an average from 7 analysts. The new target price is 27% above the current share price of AU$0.28. As of last close, the stock is down 15% over the past year. Analyst Estimate Surprise Post Earnings • Feb 26
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.1%. Earnings per share (EPS) also surpassed analyst estimates by 1,511%. Over the next year, revenue is forecast to grow 4.4%, compared to a 74% growth forecast for the Pharmaceuticals industry in Australia. 