Latest Mayne Pharma (ASX:MYX) News

Healthcare stocks split into two camps this week. Buyers chased clear commercial wins, while several halted names gave back early excitement once trading resumed. The biggest moves came from a collapse in Opthea, a surge in Control Bionics, and a strong jump in Biome Australia after a margin-boosting manufacturing deal.

Mayne Pharma has received $14.4 million from Cosette Pharmaceuticals covering legal costs and interest following a Supreme Court ruling in its favour. The legal battle continues with Cosette’s appeal decision pending.

Imugene, Vitasora and Adherium led a volatile week in healthcare shares, as trial news and software rollouts battled capital raisings, legal issues and weak sentiment in smaller biotech names. Big contracts, takeover steps and record earnings kept the sector busy, but several stocks still fell even after reporting clear operational progress.

Mayne Pharma has been awarded $13.27 million in legal costs by the Supreme Court of New South Wales after successfully defending against Cosette Pharmaceuticals’ claims tied to a terminated acquisition deal.

Biotech price swings were led by Dimerix’s slide, while TrivarX and LTR Pharma surged on clinical and commercial progress. Capital raisings, FDA milestones and first sales kept healthcare investors busy, but several early jumps faded as traders locked in gains.

Mayne Pharma’s third quarter results show modest revenue growth but a sharp improvement in cash flow and earnings, powered by the strong launch of DistributeRx and robust Women’s Health sales.

Cannabis and psychedelics delivered the week’s biggest winner, while a cluster of smaller caps slid on fresh losses, leadership change, and near-term uncertainty. Investors kept paying up for FDA clearances and reimbursement wins, but punished businesses where early pops quickly disappeared.

Mayne Pharma has announced a planned leadership transition with CFO Aaron Gray stepping up as CEO, succeeding Shawn Patrick O’Brien who will remain as an advisor during the handover.

Two capital raisings and one brutal reset set the tone, even as several companies posted clean growth or strong clinical updates. Radiopharmaceuticals kept delivering good news, but investors still punished supply-chain and cash needs fast.

Mayne Pharma has initiated legal proceedings against Cosette Pharmaceuticals and associated parties, seeking substantial damages following the collapse of their acquisition deal.

A handful of healthcare names did the heavy lifting this week, driven by FDA wins, guideline upgrades, and big shifts in sales and cashflow. The flip side: several clinical-stage stocks fell hard as investors stayed picky about near-term proof and funding.

Mayne Pharma delivered a robust FY25 performance with a 105% surge in underlying EBITDA and launched key dermatology products as it outlines a strategic growth path for FY26.