Bioxyne Limited (AU:BXN) has released an update.
Bioxyne Limited announced a significant supply agreement expected to generate approximately $28 million over the next 24 months from pharmaceutical cannabis products, with the initial order valued at $1.6 million. The undisclosed customer, citing confidentiality and security reasons, has agreed to a fixed price for the term and has already paid a $900,000 deposit, reinforcing the company’s positive revenue forecast. Bioxyne delayed announcing this market-sensitive contract until certain conditions were met, ensuring the company could meet the customer’s demand and maintain confidentiality as per the agreement.
For further insights into AU:BXN stock, check out TipRanks’ Stock Analysis page.