Insights

Next Science (ASX:NXS) share price jumps on record revenue growth

A surge in revenue during the first half of 2021 puts the Next Science share price in the green today…
The post Next Science (ASX:NXS) share price jumps on record revenue growth appeared first on The Motley Fool Australia. –

The Next Science Ltd (ASX: NXS) share price is charging higher today.

At the time of writing, the medical technology company’s shares are up 4.05% to $1.54.

Why is the Next Science share price rallying today?

Investors are looking at the Next Science share price more optimistically following the release of its second quarter update.

According to the release, the company pulled in US$3.9 million in revenue for the first half. This reflected an increase of 271% on the prior corresponding period.

Pleasingly for shareholders, this was a record rate of growth from Next Science.

Additionally, its XPerience No Rinse Antimicrobial Solution was cleared by the United States Food and Drug Administration.

The solution helps prevent surgical site biofilm based infections.

The approval process for use in US hospitals is now underway.

Designed with orthopedic surgeons in mind, XPERIENCE is a non-toxic, no rinse antimicrobial solution that helps defend against costly surgical site infections. Learn more: https://t.co/T6upqiMGFv#XPERIENCE #Biofilm #SSI #infectionprevention #orthopedicsurgery #NextScienceHeals pic.twitter.com/IFRmUF0LOR

— Next Science (@NextScience) July 6, 2021

Furthermore, Next Science’s antimicrobial wound gel, BlastX returned to the company and sales commenced.

Next Science regained the global distribution rights to BlastX from 3M (NYSE: MMM) in April 2021.

The patented medical product has also received approval from Australia’s Therapeutic Goods Administration (TGA).

After burning through US$1.9 million in cash during the first half, the company maintains US$13.2 million cash on hand.

Managing Director commentary

Managing Director, Judith Mitchell spoke about the record result for the company:

The strategies we are executing to commercialise our proprietary Xbio technology platform are delivering record results. The 271% revenue growth we have reported for 1H was driven by sales from our existing products.

Following the approval of our market leading “no rinse antimicrobial solution”, XPerience, by the FDA on 23 April, we are building an excellent platform for future growth. Our focus has been to secure VAC approvals across US hospitals to facilitate commercial sales in the US. As at mid-July, we had made 123 VAC submissions covering 211 hospitals and we had received 20 approvals.

Next Science share price snapshot

Thanks to today’s gains, the Next Science share price is 18.46% higher over the past year.

However, investors who bought at the 52-week high of $2.06 in June are still down 25.24%.

The post Next Science (ASX:NXS) share price jumps on record revenue growth appeared first on The Motley Fool Australia.

Should you invest $1,000 in Next Science right now?

Before you consider Next Science, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Next Science wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

Which ASX 200 shares are winning from latest retail trade figures?

The Prospa (ASX:PGL) share price is up 12% today. Here’s why
Wisr (ASX:WZR) share price remains flat despite positive update
Why the Peak Resources (ASX:PEK) share price is soaring 37% today
Why the Pilbara Minerals (ASX:PLS) share price is up 9% this Thursday

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Next Science Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!