Mayne Pharma Responds to FDA Inquiry on NEXTSTELLIS® Promotion

The latest update is out from Mayne Pharma Group ( (AU:MYX) ).

Mayne Pharma has addressed market speculation following an FDA ‘untitled letter’ concerning promotional claims for its contraceptive product, NEXTSTELLIS®. The company has voluntarily withdrawn the presentation in question but states that the letter does not affect its ability to sell NEXTSTELLIS® in the U.S. or impact its stock price. Mayne Pharma plans to proceed with its Scheme of Arrangement with Cosette as scheduled.

The most recent analyst rating on (AU:MYX) stock is a Buy with a A$7.09 price target. To see the full list of analyst forecasts on Mayne Pharma Group stock, see the AU:MYX Stock Forecast page.

More about Mayne Pharma Group

Mayne Pharma is an ASX-listed specialty pharmaceutical company that focuses on commercializing novel pharmaceuticals, particularly in dermatology and women’s health in the United States. The company also offers contract development and manufacturing services globally and has a strong history of innovation in oral drug delivery systems.

Average Trading Volume: 797,278

Technical Sentiment Signal: Hold

Current Market Cap: A$560.6M

For an in-depth examination of MYX stock, go to TipRanks’ Stock Analysis page.