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Next Science - Half Year Results & Capital Raise Update


- 1HFY23 Product Sales increased 92%yoy to US$10.0m
- 1HFY23 Direct Product Sales increased 226% yoy
- 1HFY23 Gross Margin of 68% v 81% pcp reflects changing product mix
- 1HFY23 Underlying EBITDA loss of US$8.3m v US$6.6m pcp
- 1HFY23 record cash receipts increasing 118% yoy to US$9.1m
- A$12m (before costs) institutional and sophisticated investor placement completed
- A$10m Walker Group convertible notes to be retired and replaced with share subscription commitment, conditional upon shareholder approval
- Share Purchase Plan to be launched on 1 September 2023 to raise up to an additional A$5m (before costs), with the right to receive  oversubscriptions
- Offer to accredited US investors to be launched on 1 September 2023 to raise up to an additional A$1.5m (before costs)
- Revenue for 2HFY23 expected to be between US$16m and US$19m
- Positive EBITDA and cashflow expected during 2HFY24.

Sydney Australia Thursday, 31 August 2023: Next Science Limited (ASX: NXS) (Next Science or Company), a medical technology company focused on commercialising its proprietary XBIO™ suite of products to reduce the impact of biofilm-based infections in human health, is pleased to announce its half-year results for the six months ended 30 June 2023, a successful capital raising to institutional and sophisticated investors and the launch of a share purchase plan.

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