Bioxyne Limited Reports Promising Quarter

Bioxyne Limited (AU:BXN) has released an update.

Bioxyne Limited reported a solid quarter with $1.7 million in revenue, aiming for a $10 million annual target for FY2024, bolstered by the successful completion of a TGA GMP audit and the award of a GMP license. The company faced some challenges with delayed product deliveries but saw an increase in demand for its medical cannabis products in Australia. Post-quarter activities included raising $1.45 million in capital and securing $1.4 million worth of manufacturing purchase orders, with expectations of significant growth in manufacturing activity.

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