ASX biotechs are serving up champion performances amid the odd fault or two, as reflected in today’s crop of quarterly reports.
- Life science companies are flooding the bourse with quarterly reports
- Many of them are hitting winners with trial updates and revenue upgrades
- Bioxyne served up record revenue with its dual medical cannabis and psychedelics strategy
Bioxyne is on a high
We’ll start with Bioxyne (ASX:BXN), which is hitting some solid aces with its dual medicinal cannabis and psychedelics strategy.
Unlike most of its peers, Bioxyne is solidly revenue-generating and profitable.
Bioxyne reported record December quarter revenue of $17.2 million, 11% higher year on year, with $2.5 million of positive cash flow.
The company reports “sustained growth” for its local Breathe Life Sciences (BLS) arm.
BLS supplies cannabis flower, oils, vapes and pastilles.
If these delivery mechanisms don’t cut it, the company has also launched a third-party inhalation device.
Bioxyne largely is focused on Europe, notably Germany, which “de-narcotised” medical cannabis in 2024.
“Germany is the largest and fastest growing legal cannabis market in Europe, projected to surpass €1 billion ($1.8 billion) in sales in 2026,” the company says.
On the psychedelics side, locally Bioxyne released the first Australian-made MDMA (‘Molly’) capsules. These supply clinical trials and authorised prescribers in Queensland.
The company also supplied pills to Victoria’s Eastern Health, for a treatment-resistant post-traumatic stress disorder trial.
CEO Sam Watson says the company is “firmly on track” to deliver on its current full-year guidance of $65–75 million of revenue and $11.5–13.5m in underlying earnings.
Bioxyne dual listed on the Frankfurt Stock Exchange last October, “enhancing liquidity and access for European investors”.
Article by Stockhead: https://stockhead.com.au/health/health-check-biotech-quarterlies-serve-up-sizzling-aces-and-only-a-few-unforced-errors/