After listing on the ASX in April this year, Next Science Ltd [ASX:NXS] has released its investor presentation, which faired positively for the anti-Biofilm solutions company.
On Monday, Next Science’s share price was sitting at $3.62, up 30.21%, before dipping 8.58% to $3.09 at the time of writing.
Currently Next Science is working towards commercialising anti-biofilm solutions.
Next Science appoints exclusive distributor for Sinus Lavage
Next Science is currently working on the continued commercialisation of its Proprietary XbioTM non-toxic technology, which gets rid of Biofilm-based and free-floating bacterial infections in humans without known antimicrobial resistance.
Yesterday, Next science announced it had appointed US-based Grace Medical as an exclusive distributor of Next Science’s Sinus Lavage.
Grace Medical is a global market leader in the ear, nose and throat (ENT) market place, with network connections across Europe, Australia and the United States. They will now exclusively promote, market and distribute Sinus Lavage.
Distribution is set to take place after the needed regulatory approvals. FDA approval is set to be submitted through the 510(k) pathway, and for CE Mark Approval in 2019, as reported by Kalkine Media.
Next Science’s share price outlook
Since its debut on the ASX, and after its IPO offer closed early on 19 March, Next Science has raised $35 million through the issuing of 35,000,010 shares at $1.00 per share. This could be why we are seeing a big jump in Next Science share price.
Furthermore, it has a market cap of around $496.27 million and approximately 178.51 million outstanding shares.
Currently, the company has a lot of development plans in its product pipeline, with multiple medical device products in the works. The company is also engaging in discussions regarding distribution agreements for MIS lavage.
Investors should keep an eye on Next Science.
Going forward, the company’s sales growth is expected to accelerate on the back of increased US market saturation and more geographic sales outside the US, as well as further development in healthcare technology.
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