Next Science Ltd (AU:NXS) has released an update.
Next Science Ltd has announced the withdrawal of its FY24 revenue guidance due to a slower than expected transition after restructuring its sales force, despite the changes leading to significant cost savings and a reduction in cash burn. The medical technology company, known for its XBIO™ products targeting biofilm-based infections, remains confident in its strategy and expects to achieve cashflow positivity by the end of FY24 or early FY25. CEO I.V. Hall emphasizes the reorganization’s role in driving future growth, improved revenue quality, and efficient cost management.
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