ASX:MYX

Australian Shares Flat; Fortescue Flags $750 Million Impairment Charge on Iron Bridge Project

Australian shares were flat on Friday, with a positive bias, as investors reacted to optimism around artificial intelligence after tech giants posted their earnings and forecast updates.The S&P/ASX 200 Index was little changed to close at 8,976.80.Brent crude oil futures fell around 2% to trade around $87 per barrel amid signs of continuing tanker traffic through the critical Strait of Hormuz.Overnight on Wall Street, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rallied 1.7%, 2.8%, and 1.2%, respectively.On the domestic front, Australia's producer prices, excluding exports, increased 1.3% in the June quarter, following a 0.4% rise in the March quarter, according to data from the Australian Bureau of Statistics.Australia's total private sector credit recorded an 0.8% month-on-month increase and an 8.5% year-on-year rise in seasonally adjusted terms in June, according to Reserve Bank figures.In company news, Fortescue (ASX:FMG) expects to book a non-cash impairment charge of around $750 million before tax and about $525 million after tax on its Iron Bridge project in fiscal year 2026, following a review of asset values under accounting standards and internal policies.Mayne Pharma Group (ASX:MYX) said its fiscal year 2026 revenue came in at AU$383.7 million, down 6% year on year from AU$408.1 million. Its underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) for the fiscal year came in at AU$31.7 million, dropping 33% from the AU$47 million reported in the prior year.Lastly, Advanced Innergy Holdings (ASX:AIH) said that its fiscal year 2026 revenue is forecast to come in around 162 million pounds sterling, down 14% from its earlier guidance of 188 million pounds sterling, as risks to the guidance it earlier identified materialized with "the extended duration and recent escalation of the Middle East conflict." Its shares earlier reached an all-time low point, falling over 38%.

Mayne Pharma Fiscal 2026 Revenue Slides 6%, Underlying EBITDA Falls 33%

Mayne Pharma Group (ASX:MYX) said its fiscal 2026 revenue came in at AU$383.7 million, down 6% year on year from AU$408.1 million, according to a Friday Australian bourse filing.Its underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) for the fiscal year came in at AU$31.7 million, dropping 33% from the AU$47 million reported in the prior year.The firm's fiscal fourth quarter revenue and underlying EBITDA was AU$86.5 million and AU$4.6, respectively, compared with revenue of AU$110.7 million and underlying EBITDA of AU$19.3 million in the prior-year quarter.It said the decline in the June quarter revenue reflected a decline in dermatology sales. It experienced general disruption in its business and operations in the fiscal year in relation to the events around the Cosette transaction and incurred higher post-market approval study costs in the Women's Health portfolio.Mayne Pharma Group's shares shed about 1% in recent Friday trade.

Mayne Pharma Group Names CFO

Mayne Pharma Group (ASX:MYX) appointed Griffin Buchanan as its Chief Financial Officer, effective Aug. 1, according to a Friday Australian bourse filing.He was most recently Vice President, Operational Finance at Establishment Labs.

Canaccord Genuity Downgrades Mayne Pharma Group to Speculative Buy From Buy; Price Target is AU$3.84

Mayne Pharma Group Receives AU$14.4 Million from Cosette Pharmaceuticals for Legal Costs

Mayne Pharma Group (ASX:MYX) confirmed that it received AU$14.4 million from Cosette Pharmaceuticals in accordance with the Supreme Court of New South Wales' orders, comprising recovery of Mayne's legal costs, costs associated with Mayne's application for costs, and interest, according to a Friday Australian bourse filing.The company began proceedings against Cosette in June 2025 in relation to Cosette's purported termination of the scheme implementation deed signed by the two parties in February 2025. The court ruled in favor of the company in October 2025 and made an adverse costs order against Cosette.An appeal against the October 2025 judgment by Cosette was heard in the Supreme Court of New South Wales, Court of Appeal on Tuesday and Wednesday, and a decision was reserved.Its shares rose over 1% in recent trading on Friday.

Mayne Pharma's Unit Signs First Third-Party Partnership With Resilia Pharmaceuticals

Mayne Pharma Group (ASX:MYX) said its DistributeRx unit has entered into its first third-party partnership with Resilia Pharmaceuticals to exclusively distribute Recedo topical gel through DistributeRx's prescription distribution platform, according to a Monday Australian bourse filing.The company said DistributeRx will receive a fixed fee for each Recedo prescription filled using the platform.The topical gel is intended for the management of old and new hypertrophic or keloid scarring resulting from burns, surgical procedures or trauma wounds, the filing added.

Australian Shares Climb; Guzman y Gomez Exiting US Market, Expects One-Off Impact of Up to $40 Million

Australian shares climbed up on Friday as optimism prevailed over a potential peace agreement between the US and Iran to end the conflict in the Middle East.The S&P/ASX 200 Index rose 0.41%, or 35.30 points, to close at 8,657.Brent crude oil futures rose by around 2% to trade at nearly $105 per barrel. US Secretary of State Marco Rubio said there were "some good signs" in talks with ​Iran. However, differences remain over the control of the Strait of Hormuz and the nuclear issue.On the domestic front, Australia's housing demand took a measurable hit in the March quarter, and total loan commitments fell 6.2% in the quarter due to central bank rate hikes and low confidence, Cotality said in a report. The overall value of lending dropped by 3.8%. However, both measures remained higher than in March 2025.Westpac points to quarter-over-quarter gross domestic product growth of around 0.4% in the March quarter, with a range of 0.3% to 0.55%. The bank's framework points to growth stalling at just 0.1% quarter-over-quarter in the June quarter. The longer the Middle East conflict persists, alongside other sources of uncertainty, the greater the risk of a contraction in the June quarter.In company news, Guzman y Gomez (ASX:GYG) is exiting the US market with immediate effect as the business has not delivered sales momentum and is not meeting financial targets. As a result of the exit, the company expects to recognize a one-off profit and loss impact of between $30 million and $40 million in its 2026 results. Its shares were up 10% on market close.Tuas (ASX:TUA) said the sale and purchase agreement between it and its unit, Simba Telecom, and Keppel Konnect and Konnectivity regarding Simba's purchase of the shares in M1 was terminated.Lastly, Mayne Pharma Group (ASX:MYX) is entitled to nearly AU$13.3 million in legal costs following court proceedings against Cosette Pharmaceuticals in the New South Wales Supreme Court last year. Its shares closed up 3%.

New South Wales Supreme Court Awards Mayne Pharma Group Over AU$13 Million in Legal Costs Following Cosette Pharmaceuticals Proceedings; Shares Up 6%

Mayne Pharma Group (ASX:MYX) is entitled to nearly AU$13.3 million in legal costs following court proceedings against Cosette Pharmaceuticals in the New South Wales Supreme Court last year, according to a Friday filing with the Australian bourse.The company initiated proceedings against Cosette Pharmaceuticals in June 2025 in relation to Cosette's purported termination of the scheme implementation deed signed by the two parties in February 2025, the filing said.The court ruled in favor of the company in October 2025 and made an adverse costs order against Cosette, per the filing.Mayne Pharma Group shares rose 6% in midday trade on Friday.

Mayne Pharma Group to Expand Wholly-Owned Specialty Pharmacy in Kentucky

Mayne Pharma Group's (ASX:MYX) wholly-owned specialty pharmacy, Adelaide Apothecary, will relocate and expand its fulfillment operations to a new facility in Lexington, Kentucky, according to a Monday Australian bourse filing.The new facility represents around four times the area of its current premises, designed to support the next phase of growth for the Mayne Pharma's unit, DistributeRx, which launched operations in March.The company expects the new leased facility to require around $200,000 in initial manufacturing equipment with up to a $2 million in total investment to complete first phase of the expansion, per the filing. Additional capital expenditures on the second phase of the expansion relating to automated conveyance and fulfillmentinfrastructure is expected to be up to $2 million.The expansion will increase the annual capacity over the two planned phases to over 2.5 million prescriptions per year, the filing said.The company's shares were down 2% in recent Monday trade.

Mayne Pharma Group Reports Higher Fiscal Q3 Revenue

Mayne Pharma Group (ASX:MYX) reported unaudited fiscal third-quarter revenue of AU$85.2 million, up 1% from AU$84.3 million a year earlier, according to a Wednesday filing with the Australian bourse.The company also reported underlying loss before interest, taxes, depreciation, and amortization of AU$1.4 million, an improvement from a AU$3.3 million loss in the year-ago period.Mayne Pharma said it continues to evaluate capital allocation strategies, including a potential on-market share repurchase.