Mr. Ken d'Entremont reports

MEDEXUS ANNOUNCES PRELIMINARY REVENUE FOR FISCAL Q1 2024

Medexus Pharmaceuticals Inc. had preliminary revenue estimates for the company's fiscal quarter ended June 30, 2023 (the company's fiscal Q1 2024). All dollar amounts in this news release are in United States dollars unless specified otherwise.

Preliminary revenue estimates for fiscal Q1 2024

The expected results discussed in this news release are preliminary estimates, as Medexus's financial closing procedures remain subject to completion, and have not been reviewed by the company's auditors. Accordingly, final reported results may diverge from these estimates.

Medexus expects to deliver total revenue between $31-million and $31.5-million for fiscal Q1 2024, representing record quarterly revenue for Medexus and a year-over-year increase of at least 34.5 per cent compared with fiscal Q1 2023.

"We are very pleased with this revenue estimate," commented Ken d'Entremont, chief executive officer of Medexus. "A key driver of the quarter's revenue was a particularly strong quarter from Rupall. Even total revenue at the lower end of our range would represent another record quarter and a significant year-over-year increase."

"This strong revenue performance keeps us on track in our progress toward our previously announced estimate of $20-million of total cash at Sept. 30, 2023," concluded Marcel Konrad, chief financial officer of Medexus.

About Medexus Pharmaceuticals Inc.

Medexus is a leading specialty pharmaceutical company with a strong North American commercial platform and a growing portfolio of innovative and rare disease treatment solutions. Medexus's current focus is on the therapeutic areas of oncology, hematology, rheumatology, auto-immune diseases, allergy and dermatology.

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