Biome Australia Ltd (AU:BIO) has released an update.
Biome Australia Ltd has announced that it expects to surpass its upgraded FY24 revenue forecast of $12.5 million, marking a second consecutive quarter of positive cash flow and EBITDA. The company is preparing to launch its cholesterol-lowering probiotic, Biome Cholesterol™, in Q1 FY25, which has demonstrated a 14% reduction in cholesterol levels over a 12-week clinical trial. With strong growth and the upcoming product launch, Biome is optimistic about the financial outlook for the end of FY24 and the start of FY25.
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