Terragen Holdings Ltd (AU:TGH) has released an update.
Terragen Holdings Ltd has successfully completed the first commercial scale trial of its freeze-dried MYLO product, with plans to unveil a prototype for commercial trials by June 2024. Amidst challenging market conditions, including the driest autumn in over 40 years in key Australian dairy regions, the company reported a decrease in quarterly net sales. However, Terragen remains financially robust with a cash reserve of $5.4 million and continues to invest in research, as evidenced by an 11% increase in operating expenses dedicated to R&D.
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