v3.25.4
Non-financial assets and liabilities
 6 Months Ended
Dec. 31, 2025
Disclosure Of Non Financial Assets And Liabilities [Abstract]  
Non-financial assets and liabilities Non-financial assets and liabilities
a.    Intangible assets
(in U.S. dollars, in thousands)GoodwillAcquired licenses
to patents		In-process
research and
development
acquired		Current marketed
products		Total
Year Ended June 30, 2025
Opening net book amount134,453 1,626 427,779 11,878 575,736 
Additions— 50 — — 50 
Reclassification(1)
— — (102,698)102,698 — 
Exchange differences— (1)— — (1)
Amortization charge— (20)— (3,939)(3,959)
Closing net book amount134,453 1,655 325,081 110,637 571,826 
As of June 30, 2025
Cost134,453 3,077 387,000 126,696 651,226 
Accumulated amortization— (1,422)— (16,059)(17,481)
Accumulated impairment— — (61,919)— (61,919)
Net book amount134,453 1,655 325,081 110,637 571,826 
     
Six Months Ended December 31, 2025     
Opening net book amount134,453 1,655 325,081 110,637 571,826 
Additions— 65 — — 65 
Exchange differences— 8 — — 8 
Amortization charge— (17)— (3,082)(3,099)
Closing net book amount134,453 1,711 325,081 107,555 568,800 
As of December 31, 2025
Cost134,453 3,150 387,000 126,696 651,299 
Accumulated amortization— (1,439)— (19,141)(20,580)
Accumulated impairment— — (61,919)— (61,919)
Net book amount134,453 1,711 325,081 107,555 568,800 
(1)     The Group reclassified $102.7 million from in-process research and development ("IPRD") acquired to current marketed products upon receiving FDA approval for Ryoncil® for the treatment of pediatric SR-aGVHD in December 2024. As a result of this reclassification, the asset is now being amortized on a straight line basis over its useful life through to expected patent expiry which is 22 years.
(i)    Carrying value of in-process research and development acquired by product
(in U.S. dollars, in thousands)As of
December 31,
2025		As of
June 30,
2025
Cardiovascular products(1)
254,351 254,351 
Intravenous products for metabolic diseases and inflammatory/immunologic conditions(2)
70,730 70,730 
325,081 325,081 
(1)Includes MPC-150-IM for the treatment or prevention of chronic heart failure and MPC-25-IC for the treatment or prevention of acute myocardial infarction
(2)Includes MPC-300-IV for the treatment of biologic-refractory rheumatoid arthritis and diabetic nephropathy
For all products included within the above balances, the underlying currency of each item recorded is US$.
During the six months ended December 31, 2025, no impairment indicators for the in-process research and development and goodwill were identified.
b.    Provisions
As of
December 31, 2025		As of
June 30, 2025
(in U.S. dollars, in thousands)CurrentNon-currentTotalCurrentNon-currentTotal
Contingent consideration3,117 11,021 14,138 11,001 10,778 21,779 
Employee benefits4,334 9 4,343 6,234 15 6,249 
Provision for license agreements3,750 — 3,750 3,750 — 3,750 
11,201 11,030 22,231 20,985 10,793 31,778 
(i)    Information about individual provisions and significant estimates
Contingent consideration
The contingent consideration provision relates to the Group’s liability for certain milestones and royalty achievements pertaining to the acquired MSC assets from Osiris. Further disclosures can be found in Note 5(e)(iii).
Employee benefits
The provision for employee benefits relates to the Group’s liability for annual leave, short term incentives and long service leave.
Employee benefits include accrued annual leave. As at December 31, 2025 and June 30, 2025, the entire amount of the annual leave accrual was $1.6 million and $1.6 million respectively, and is presented as current, since the Group does not have an unconditional right to defer settlement for any of these obligations.
Employee benefits include a provision for the Group's liability for short term incentives. As at December 31, 2025 and June 30, 2025, the provision for short term incentives was $1.9 million and $4.0 million, respectively.
(ii)    Movements
The contingent consideration provision relates to the Group’s liability for certain milestones and royalty achievements. Refer to Note 5(e)(iii) for movements in contingent consideration for the period ended December 31, 2025 and June 30, 2025.
c.    Deferred tax balances
(i)    Deferred tax balances
(in U.S. dollars, in thousands)As of
December 31,
2025		As of
June 30,
2025
Deferred tax assets
The balance comprises temporary differences attributable to:
Tax losses74,571 73,474 
Other temporary differences11,984 13,605 
Total deferred tax assets86,555 87,079 
Deferred tax liabilities
The balance comprises temporary differences attributable to:
Intangible assets86,555 87,079 
Total deferred tax liabilities86,555 87,079 
Net deferred tax liabilities— — 
(ii)    Movements
(in U.S. dollars, in thousands)
Tax losses(1)
(DTA)
Other
temporary
differences(1)
(DTA)
Intangible
assets (DTL)		Total (DTL)
As of June 30, 202474,602 13,143 (87,745)— 
Charged/(credited) to:    
- profit or loss(1,458)462 666 (330)
- directly to equity330 — — 330 
As of June 30, 202573,474 13,605 (87,079)— 
Charged/(credited) to:    
- profit or loss652 (1,621)524 (445)
- directly to equity445 — — 445 
As of December 31, 202574,571 11,984 (86,555)— 
(1)Deferred tax assets are netted against deferred tax liabilities
d. Inventories and other current assets
(i) Inventories
(in U.S. dollars, in thousands)As of
December 31,
2025		As of
June 30,
2025
Current Assets
Raw materials6,112 1,063 
Work in progress— — 
Finished goods15,552 21,183 
21,664 22,246 
(ii) Assigning costs to inventories
Inventories are included in the financial statements at the lower of cost (including raw materials, direct labor, other direct costs and related production overheads) and net realizable value. Pre-launch inventory is held as an asset when there is a high probability of regulatory approval for the product in accordance with IAS 2 Inventories. Before that point, a provision is made against the carrying value to its recoverable amount in accordance with IAS 2 Inventories; the provision is then reversed at the point when a high probability of regulatory approval is determined.
The Group considers a number of factors in determining the probability of the product candidate realizing future economic benefit, including the product candidate’s current status in the regulatory approval process, results from the related pivotal clinical trial, results from meetings with relevant regulatory agencies prior to the filing of regulatory applications, the market need, historical experience, as well as potential impediments to the approval process such as product safety or efficacy, commercialization and market trends.
When a provision is made against the carrying value of pre-launch inventory the costs are recognized within Research & development expenses. When the high probability threshold is met, the provision is reversed through Research & development expenses.
Where it is determined that the pre-launch inventory will be used within a clinical trial, that amount is removed from the cost of pre-launch inventory.
As of December 31, 2025, there was $23.8 million of inventory recognized on the balance sheet, of which $2.1 million was provided for as obsolete stock, compared with $23.8 million of inventory recognized on the balance sheet at June 30, 2025, of which $1.6 million was provided for as obsolete stock. Inventory balances net of the provision for obsolete stock are $21.7 million and $22.2 million as of December 31, 2025 and June 30, 2025, respectively.
(iii) Amounts recognized in profit or loss
As of December 31, 2025, the Group recognized $4.5 million within cost of inventories as compared to $Nil as of December 31, 2024.