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Mayne Pharma Group ( (AU:MYX) ) just unveiled an announcement.
Mayne Pharma has terminated its Scheme Implementation Deed (SID) with Cosette due to material breaches by Cosette, which Mayne Pharma deemed willful and intentional. This termination releases Mayne Pharma from the restrictions of the SID and does not obligate them to pay a break fee. The company is considering further actions regarding Cosette’s breaches and has notified Cosette of its intention to enforce a costs order made against them. Mayne Pharma will keep its shareholders informed of any further developments related to this termination.
The most recent analyst rating on (AU:MYX) stock is a Buy with a A$6.10 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 to offer patients better, safer, and more accessible medicines. It is a leader in dermatology and women’s health in the United States and provides contract development and manufacturing services globally. With a 40-year history of innovation, Mayne Pharma has successfully developed and commercialized new oral drug delivery systems.
Average Trading Volume: 535,656
Technical Sentiment Signal: Sell
Current Market Cap: A$260M
For detailed information about MYX stock, go to TipRanks’ Stock Analysis page.