Highlights

  • Customer receipts for FY26 totalled $5.002 million, including $1.780 million in the June quarter.
  • First Lenzetto milestone of $1.350 million received from Gedeon Richter, with up to $4.05 million in further milestones.
  • Cash was $1.705 million at 30 June 2026, with the company reporting nine quarters of funding.
  • Female testosterone program for low libido has completed Phase I and II, with an FDA-outlined path to Phase III.

Acrux Limited (ASX:ACR) is a specialty pharmaceutical company that develops and commercialises topically applied products, with licensees marketing its products worldwide and a particular emphasis on the United States. Its quarterly activities report and Appendix 4C for the June 2026 quarter, lodged on 31 July 2026, covers licensing income, a new Australian partnership for Lenzetto and the status of its female testosterone program.

Licensing income and the Lenzetto milestone

According to the report, FY26 customer receipts were $5.002 million. June quarter receipts were $1.780 million.

The Australian rights to Lenzetto, an estradiol spray, are held by Gedeon Richter. ASX:ACR received the first milestone of $1.350 million in June 2026. The company stated that further milestones totalling up to $4.05 million depend on TGA marketing authorisation and cumulative sales targets over 24 months after launch.

US generics portfolio

In the ASX:ACR report, profit share and royalty income, together with laboratory and development services, totalled $0.430 million in the June quarter and $3.652 million for the full year. The report states that US licensee TruPharma saw a rebound in Nitroglycerine 0.4% Ointment sales after supply issues were resolved, and 7.5% growth in Dapsone Gel as distribution constraints eased.

Cash position and funding

Cash at 30 June 2026 was $1.705 million, compared with $0.587 million at the end of the prior quarter. Operating cash flow was positive $0.226 million for the quarter and $0.902 million for the year. Operating expenditure was $1.529 million for the quarter.

Available funding was reported as $2.106 million, being cash plus $0.401 million of unused facilities, and nine quarters of funding were reported. Funding activity included a $1.6 million placement to institutional and sophisticated investors. The first tranche of $975,000 was issued on 18 May, and the second tranche of $625,000 concluded in July 2026. The company also expects an R&D tax incentive rebate early in FY27, which it intends to apply to repaying its Radium Capital facility.

Female testosterone program

The ASX:ACR pipeline is led by a testosterone treatment for hypoactive sexual desire disorder in women. Phase I and Phase II trials are complete. According to the company, meetings with the FDA have outlined a pathway for a Phase III program and provided feedback on preclinical safety, toxicology and manufacturing plans.

The company states that no testosterone product is currently registered for women in the United States or Europe. It reports that commercial discussions with global pharmaceutical companies on co-development are continuing, and it is mapping options for financial commitments. No co-development agreement has been announced.

Key Insights

The ASX:ACR June quarter report confirms receipt of the first Lenzetto milestone and a full-year receipts figure of $5.002 million. Further Lenzetto payments are contingent on TGA approval and sales targets, so they remain company expectations rather than secured income.

The female testosterone program has completed early-stage trials, but a Phase III program has not yet started and the company has not announced a co-development partner. ASX:ACR remains a small company with a modest cash balance, and the funding runway and rebate timing are company estimates. The next Appendix 4C will show how cash and the testosterone program have progressed.