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Provexis ( (GB:PXS) ) just unveiled an update.
Provexis announced the purchase of additional Fruitflow® II SD inventory from dsm-firmenich to meet growing demand. The purchase, along with a two-year royalty payment to dsm-firmenich, is being settled through the issuance of new shares, increasing dsm-firmenich’s stake in Provexis. This move demonstrates Provexis’s strategic response to rising customer demand and solidifies its commercial partnership with dsm-firmenich, which has been ongoing since 2010. The transaction is expected to support a new production run in 2025, reflecting the company’s positive momentum in expanding its market presence.
More about Provexis
Provexis plc, headquartered in Reading, Berkshire, is a company focused on the development, licensing, and sales of Fruitflow®, a scientifically-proven heart-health functional food ingredient. The company, listed on the AIM market of the London Stock Exchange, specializes in products that promote cardiovascular health by aiding normal blood flow and circulation. Provexis has been actively pursuing market opportunities in China with its partner BYHEALTH, a significant player in the dietary supplement industry.
YTD Price Performance: -3.54%
Average Trading Volume: 419,087
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £14.2M
Learn more about PXS stock on TipRanks’ Stock Analysis page.