Apr. 7 at 1:10 AM
$TXMD I think the market is missing a key dynamic here ..:.
If Mayne is actually trying to divest U.S. assets, this situation is far from clean. There’s an active ~
$15–20M legal dispute, a forced BDO process, and ongoing litigation — plus these assets are tied up in licensing, manufacturing, and IP connected back to TXMD. In reality, Mayne likely can’t just sell this to a third party cleanly, especially without TXMD’s involvement or consent. Any buyer would be stepping into uncertainty + disputed economics.
That’s what makes this interesting… TXMD may not just be a buyer — they may be a necessary party to any exit. And if that leads to a buyback/unwind at a discount (say ~
$30M less than the original deal), you’re talking about a completely different company overnight. TXMD goes from a ~
$30M royalty shell to owning operating assets again — that’s where a real re-rating into the
$5–
$10+ range starts to make sense depending on structure. That’s the kind of pay day Rubric goes after …
