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Mayne Pharma Group ( (AU:MYX) ) has provided an announcement.
Mayne Pharma Group announced that its proposed acquisition by Cosette Pharmaceuticals is unlikely to proceed due to the objection from the Foreign Investment Review Board (FIRB). The scheduled court hearing has been vacated, and Mayne Pharma is assessing its options and next steps while consulting with Cosette on available alternatives. This development impacts the company’s strategic plans and may affect stakeholders’ expectations.
The most recent analyst rating on (AU:MYX) stock is a Hold with a A$5.00 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 track record, Mayne Pharma has successfully developed and commercialized new oral drug delivery systems worldwide.
Average Trading Volume: 458,975
Technical Sentiment Signal: Sell
Current Market Cap: A$389.2M
Learn more about MYX stock on TipRanks’ Stock Analysis page.