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MYX - Mayne Pharma Group

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Mayne Pharma Group (MYX) getting noticed/some coverage as Lazard (substantial holder 07/07/20) tops up with $6.5M worth of shares over recent week's.

https://kalkinemedia.com/au/us-shar...der-discussion-3-things-you-might-have-missed

MYX - Very nice strong finish of 44.5c +3.49% (it's day high!) and more importantly, finally closing above it's 200 dma (of 43.2c) so onwards and upwards from here.

1 yr chart shows a big "open gap" b/w 50-55c that sooner or later should get filled imo dyor
 
MYX appears to be in a "medium-term rally" confirmed by multiple indicators. Most importantly, the 5-day moving average is above both the 20 and 50-day moving averages. Furthermore, it bounced off it's 200dma critical support level yesterday in sp closing just above it.
 
Great to see MYX sp passing above the 200MA. Could use some big funds being interested at entering at these price levels. Load up and wait imo. "Golden Cross" in sight !!!
Nice strong green candle today! DYOR

360 buyers for 8,808,887 units vs 244 sellers for 5,214,403 units
 
After re-test/holding 40c strong support level yesterday.. MYX since jumped +7.41% this morning.
(pending positive "news flow" anticipated over the coming week's/month's methinks)
DYOR Cheers tela
 
Just when I was warming to MYX as a reversal opportunity they receive a "not so fast" caution from the FDA on one of their women's health drugs. The addressable market for this generic drug is huge, so the potential looks promising but they have to get their production facility up to standard for the FDA approval.

 
With massive drop in price due to FDA rejection (returned to sender to send again) the prices dropped heavily.
I noticed an interesting share disposal few days before . It is upto ASIC to ask if the director guessed any thing ?
Ironically another director bought a piece meal lot of share - smoking mirror ??

https://www.asx.com.au/asxpdf/20201006/pdf/44nd0qrbgnwtm4.pdf - drove market price drop today
https://www.asx.com.au/asxpdf/20200901/pdf/44m6n28chf1krv.pdf - sold out 2.2 m shares
https://www.asx.com.au/asxpdf/20200902/pdf/44m7xprzp13pgd.pdf - bought shares of the order of $37 K - peanuts
THIS IS THE FORMAL ANNOUNCEMENT https://www.asx.com.au/asxpdf/20201006/pdf/44nd0qrbgnwtm4.pdf
 
I understand that the issues raised in the latest FDA CRL were more to do with correcting procedures/documentation rather than anything to do with the compound's efficacy. These details were not provided in the MYX update. The significant selloff that occurred suggests these issues may be more serious than I assume. There was no further selling on the following day.

I'm considering a partial buy at 0.32, with a tight iSL for the small cap portfolio. Letting the idea percolate though the grey matter for now.
No hurry yet, as the last reversal took 40 weeks before the eventual BO-HR.

 
A pop out of the blue today (seemingly?) makes it worth a closer watch for a while.
No announcements recently but traders may be anticipating something?
Not held.

 
That little pop has lead to a very tight trading range (0.26 - 0.31). This is looking promising, but it is MYX and that's why I'm showing the past three years of price data. They seem to be pinning their hopes on their new oral contraception compound, NEXTSTELLIS.

 
Mayne Pharma will return $113 million to shareholders, being the proceeds of its sale of Metrics Contract Services, and proposed a 20-for-1 share consolidation.

It declared a fully franked special dividend of 2.72¢ a share, or $47.3 million, to be paid on 27 January and flagged a pro rata capital return of around 3.8¢ a share, $65.5 million, pending shareholder approval.
 
Good morning
Announcement today (12/01/23) ...

Mayne Pharma Group will defer a previously announced capital return to shareholders due to sensitive timing around transactions and funding talks.

The pharmaceutical company today announced a revision to the timetable for the capital management initiatives announced on October 28 and approved by shareholders at the AGM on November 30.

The $113m capital management initiative followed the completion of the sale of Metrics Contract Services and comprised a fully franked special dividend of $47.3m at 2.72c per share and a pro-rata capital return of up to $65.5m, about 3.8 cents per share.

Mayne also proposed a share consolidation in which every 20 shares would be consolidated into one share.

After November's AGM Mayne Pharma announced it had entered into an exclusive license agreement with TherapeuticsMD for three branded women’s health products and a portfolio of prenatal vitamins.

The board said today, it was now "prudent" to defer the capital return – but not the special dividend or share consolidation – by at least two months to March "due to the timing of this transaction" and ongoing discussions with parties to secure renewed financing arrangements.

The board said it would provided an update on the capital return in late February or early March, and left the door open for further deferrals.

Hmmmmmmm

Have a very nice day, today
Not holding.

Kind regards
rcw1
 

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The recent consolidation of share numbers makes room for price to fall further.
 
Good evenng
MYX took off to the moon …

Maybe the sale of its US generics business triggered 18.67 % gain today 01/03/23.

A number of announcements yesterday.

kind regards
Rcw1
 
MYX, a pharmaceutical company has taken off again recently after some announcements in its wimmens health and skin divisions.

I don't understand it all but its a pick for me in the March 2024 competition.

The chart looks as if it may run.





gg
 
Garpal Gumnut said:
MYX has taken off recently after some announcements in its wimmens health and skin divisions. I don't understand it all but its a pick for me in the March 2024 competition.

The chart looks as if it may run
Click to expand...
I read the 1H, didn't think it was any real smorgasbord of delights, just ticking along .

Bit where is, what is, Chemist Warehouse? Isn't there a reverse T/O to get the behemoth onto ASX? Is that what is driving the current price? And, if so, my secondary thought was, will these mere bagatelles be offered up to clean up new look and, eventually, new named entity?

EDITED for clarity
 
Ah so.

Silly me, all the roundabouts are affecting my brain down here at Noosa.

Of course, the price may be constrained by CW action.

gg
 
Dona Ferentes said:
Chemist Warehouse? Isn't there a reverse T/O to get the behemoth onto ASX?
Click to expand...
...
Chemist Warehouse has been against restrictions on pharmacy locations and ownership, saying they are inconsistent with attempts to provide cheaper medicines
...

The economist who led a Health Department review into the pharmacy sector almost a decade ago says the industry is ripe for an “Uber” moment and antiquated laws protecting ownership are preventing true market competition.

Stephen King, who has also chaired a mergers review committee for the competition regulator, said strict restrictions on pharmacy ownership should be abolished because “the longer they’re in place, the more damage they will do”.

There are almost 6000 so-called community pharmacies around the country, with rules dictating how many can operate in any location. Supporters of those rules say they spread pharmacists into areas where they might otherwise not open, while those against the restrictions say they only lock out competitors and drive up prices.

Professor King said technology would “eventually lead to that Uber moment in pharmacy. We’re going to face the same issues that we have with the taxi licence. People have bought taxi licences, paid a lot of money on the basis of government regulations.

“We’ve got the same situation in pharmacies. Many young pharmacists have mortgaged to the hilt to be able to buy a pharmacy. When that Uber moment comes, those pharmacists will be left with businesses that will be worth far less than they paid."
 
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