Sydney Australia, Monday, 25 July 2022: Next Science Limited (ASX:NXS) (Next Science) today announces its Quarterly Activity Report and Appendix 4C Quarterly Cash Flow Report for the period 1 April 2022 to 30 June 2022 (Q2).
In accordance with ASX Listing Rule 4.7C, set out below is Next Science’s activity report for Q2.
Activity Summary:
-- Growth accelerating - Q2 Product Sales (unaudited) US$3.3M, 99% increase on Product Sales versus the prior corresponding period (pcp)
-- 1H Product Sales (unaudited) US$5.2M, 67% increase of product sales on pcp
-- First shipment to Zimmer Biomet of XPERIENCETM in June 2022, to support the commencement in July of Zimmer’s two month rollout of XPERIENCETM
-- Further expansion of the Next Science direct sales force as well as the distribution network for both Surgical and Wound Care
-- Distribution partners appointed for Australia and New Zealand for XPERIENCETM, Surg XTM and Blast XTM (sales commencing in Q2/Q3 2022)
-- First delivery to Convatec US of TridentXTM Wound Wash in June 2022
-- Legal dispute with Irrimax resolved and the case formally dismissed
-- New CEO recruitment process ongoing
-- Cash in the Bank US$11.1M
-- Payments to directors US$172K
Managing Director Judith Mitchell commented that “I am pleased to report that the revenue tempo in the business has lifted. The strategies to expand market awareness and adoption of our Xbio platform technologies are gaining market traction. We have signed several new distribution agreements in the Quarter to expand our commercial reach and support for clinicians.
Clinicians continue to be very happy with the improved patient health outcomes they are achieving with our products and actively support the technology to their peers. The release of clinical data in Q3 will strengthen the unique value proposition of the company’s technology to help with the issues of post operative complications”.
For more information, download the attached PDF.
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