The Next Science Ltd (ASX: NXS) share price has more than tripled to $3.09 since its April 2019 initial public offering at $1 per share.
Today the group reported an operating cash loss of US$3.43 million on revenue of US$1.2 million for the quarter ending June 30, 2019.
Next Science already has four anti-bacterial FDA-approved products (used to treat common wounds or lacerations) in the U.S. market under its 'Xbio Family' generic label.
Like any good ASX biotech, it also has multiple new products in the pipeline for potential FDA approval and commercialisation.
It also has an acne treatment product it expects to launch in Australia in the second half of 2019 and reported today that it has made significant progress over the first half of 2019 in getting more products approved.
It has US$23.9 million cash on hand as at June 30 2019 to meet its cash outflows and fund its upcoming and ongoing clinical trials. Notably these can be expensive.
Next Science currently has a market cap around $550 million, which looks very high to me relative to its cash flows.
Another speccy biotech widely fancied by punters to hit the big time is Paradigm Group Ltd (ASX: PAR). It could be worth more research for anyone with a high risk tolerance.
