Bioxyne Limited (AU:BXN) has released an update.
Bioxyne Limited reported a strong financial quarter with $3.1 million in revenue, marking a significant recovery and a 25% annual increase to $9.43 million after overcoming previous delays in drug control permitting. The company’s subsidiary Breathe Life Sciences achieved record revenues, and Bioxyne signed a collaboration agreement with Cy Biopharma AG for developing new psilocybin therapies. They also anticipate becoming cash flow positive in the next fiscal year thanks to recent cost-saving measures and the establishment of a new Good Manufacturing Practice facility.
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