Next Science Faces Legal Challenges from Former Employee

The latest announcement is out from Next Science Ltd ( (AU:NXS) ).

Next Science Ltd is currently involved in legal proceedings initiated by former employee Michael Morello, who has filed a derivative complaint in Florida alleging breaches of fiduciary duties and mismanagement. The complaint raises concerns about the FDA approval and safety measures of Next Science’s products, specifically its XBIO™ technology and XPERIENCE™ surgical solution. In response, Next Science asserts its products are safe, FDA-approved, and has engaged US attorneys to handle the litigation, while committing to an independent investigation into the allegations.

More about Next Science Ltd

Next Science is a medical technology company based in Sydney, Australia, with a research and development center in Florida, USA. Founded in 2012, the company focuses on developing and commercializing its proprietary XBIO™ technology, which targets the reduction of biofilm-based infections in healthcare. The technology is known for its non-toxic and effective eradication of both biofilm-based and free-floating bacteria, and the company holds full patent rights to this intellectual property.

YTD Price Performance: -8.57%

Average Trading Volume: 20,115

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $21M

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