MedinCell (MEDCL) H2 24/25 earnings summary

Executive summary

• Revenue for FY 2024-2025 surged to €25.4 million, up 2.8x year-over-year, driven by UZEDY's strong US launch and new partnerships.

• Operating loss improved by 48% to €10.8 million; net loss improved by 26% to €18.4 million.

• Cash and equivalents plus low-risk investments totaled €71.9 million at year-end, bolstered by €43 million fundraising and AbbVie upfront payment.

• Patent protection for UZEDY and Olanzapine LAI extended to 2042 and 2044, respectively, with new US patents granted.

• Strategic focus on growth through partnerships, first-in-class LAIs, and technology leadership, including BEPO Star implementation.

Financial highlights

• Revenue increased 2.8x year-over-year to €25.4 million; total income up 132% to €27.7 million.

• UZEDY royalties surged 3.8x to €6.5 million from $141 million net sales; milestone revenue of €4.8 million from Olanzapine LAI Phase 3 completion.

• Operating expenses rose 17% to €38.5 million, mainly due to higher R&D and personnel costs.

• Cash and cash equivalents at €59.0 million; low-risk investments at €12.9 million.

• Net financial loss increased to €7.4 million, mainly from non-cash fair value adjustment on warrants.

Outlook and guidance

• Operational profitability targeted for the fiscal year ending March 31, 2027.

• EBIT margin projected to surpass 70% in the early 2030s, with analysts forecasting several hundred million dollars in annual profit by 2030.

• Olanzapine LAI FDA submission planned for H2 2025, with commercial launch anticipated in 2026.

• UZEDY SNDA for bipolar disorder under FDA review.