OTCQX:MRVFF - Post by User
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midardon Nov 04, 2019 6:53pm
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Highlight from earning call transcript
Highlight from earning call transcript - A generic version of Vimovo did not launch in the United States during the 3 months ended September 30, 2019. As a result, the company has accrued $1.7 million of license revenue related to its U.S. Vimovo royalty stream for the third quarter.
- In September, our Indian partner, Sayre Therapeutics, received approval from the Drug Controller General of India to market Pennsaid 2% in India. Preparations are underway for an anticipated commercial launch in the first quarter of 2020
- The company grew its cash on hand by $3.8 million during Q3 2019 to $18.5 million at the end of the quarter. As a result, the company will make a $2.5 million payment towards its bridge loans in November 2019
- Suvexx, is moving through its Health Canada review, and we expect a review decision in Q1 2020. Suvexx represents an important addition to our growing migraine portfolio.
- This decision by the U.S. Court of Appeals now permits the U.S. Food and Drug Administration to approve a generic version of Vimovo. However, Nuvo Ireland still owns other valid patents. So any generic company that launches a generic version of Vimovo prior to the expiration of these other patents would be launching into what is referred to as an at-risk launch. This means that if Nuvo Ireland’s other patents are found to be valid and infringed through litigation, we can sue for damages.