I got high on the green whistle today while getting my wisdom teeth extracted, while high I seemed to have become a shareholder in MVP again. I've now got a week off work to regret my decision and do a deeper dive on MVP. On a high level though:

The good things happening with MVP:

• Demand is growing in Australia, and prices are to be increased in Australia
• UK paediatric trial - submission expected Q3 FY24.

The concerning things happening with MVP:

• Australia still seems to be golden country for Penthrox.
• Penthrox is still the crown jewel of this company with limited diversification.
• The "US Re-entry" is STILL being played out - FDA has cleared Penthrox for a clinical trial.
• Exit of China market - need to look into this further but it seems like a missed opportunity? Poor execution?
• Review of Europe model and scale back of spend in France due to "market conditions"
• Revenue up 47% but EBIT (-$18.3) and NPAT (-$5.6m) still at a loss. Capex is still large, approx 24% of revenue
• I last exited MVP at $8.70 in 2020 - 4 years later the share price is now $0.835

Disclosure: Held IRL.