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Medison Expresses Concerns over Knight Therapeutics' Second Quarter Results and Demands Answers to Critical Questions from Jonathan Goodman
Medison Expresses Concerns over Knight Therapeutics' Second Quarter Results and Demands An...
About this update from Knight Therapeutics, Inc.
[{"type":"text","content":"\n\n\n\nMedison Expresses Concerns over Knight Therapeutics' Second Quarter Results and Demands Answers to Critical Questions from Jonathan Goodman\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nPETACH TIKVA, Israel, Aug. 9, 2019\n\n\n\nPETACH TIKVA, Israel, Aug. 9, 2019 /CNW/ - Medison Biotech (1995) Ltd. (\"Medison\"), which together with its affiliates owns more than 10.4 million shares or 7.5% of Knight Therapeutics, Inc. (TSX:GUD) (\"Knight\" or the \"Company\"), demands answers from Knight and Jonathan Goodman regarding Knight's second quarter financial statements and governance related issues.  Medison believes the owners of Knight deserve better and should ask the following questions:\nKnight experienced another very disappointing quarter of financial results with no clear path for improvement in the future.  Why should investors continue to trust Knight and the current management with their hard-earned money?Knight emphasizes the product pipeline that it has developed during the past 5 years, but sales levels continue to be marginal with no real growth in the first half of fiscal 2019.  Why does Knight not disclose its projected outlook for 2020 so investors can better understand the true results (or lack thereof) of all the Company's efforts to date? In particular, Knight published a few press releases regarding its progress with the registration process of Probuphine® in Canada without disclosing the potential sales of this drug in Canada – what are the expected sales figures of this drug in the Canadian market?Some products that were presented by Knight as significant value drivers in its near-term pipeline have achieved only nominal sales in the United States, a market that is approx. 20 times larger (in dollars) than the Canadian market.  For example, TherapeuticsMD reported earlier this week that the products that were licensed by Knight to Canada achieved US sales of only US$3.2 million in Q2, and Jaguar Health (JAGX), whose stock fell 98% in the past 12 months, generated on...