Thread by @Fabregasto

$NXS Next Science lists shortly. Its Xbio technology targets biofilm-protected bacteria (apparently 90% of all bacteria including serious threats Golden Staph and e.Coli). Biofilm shields bacteria and builds resistance to antibiotics etc.

$NXS 4 products have been approved by the FDA and launched into the US market, first 2 in 2017. Recently signed distribution partners should significantly expand reach for these 2 and should reduce S&M costs vs historical levels.

$NXS Bactisure (launched 2017) is a surgical lavage (medicated wash) product distributed in the US by Zimmer Biomet. ZB started with a small target group then rolled out to ZB’s entire US network in late 2018.

$NXS BlastX (also 2017) is a wound care gel product, initially sold by NXS’s US sales team, but switched to a US distribution agreement with 3M from 1/1/19. 3M waiting for CE mark and TGA approval (2H19?) before selling into Europe & Aust respectively.

$NXS SurgX is a surgical gel to combat infections arising from surgery and was launched in Sep-18. TorrentX (Nov-18) is a wound wash product for all environments (not just surgery). NXS seeking distribution agreements for these 2 newer products, currently sold by own S&M team.

$NXS Product #5 is an acne treatment product - sales of which will commence in Australia in 2H19 via a distribution agreement with Advanced Skin Technology.

$NXS FDA approval will be sought for 3 new products in 2019: a sinus wash, a Middle Ear wash, and a wound wash for Minimally Invasive Surgery. In addition to these, NXS has a portfolio of other products under development, including medical devices and a mouthwash.

$NXS Per the prospectus, management are not aware of competing technologies (yet) to combat biofilm - though presumably some will emerge at some point. As such, NXS products are currently “competing” with traditional medicines etc.

$NXS Latest financials aren’t pretty - a ~$14M loss on $3M sales for FY18 (December year end) - however this is pre the 3M distribution for Blast X, probably doesn’t reflect full ZB US rollout for Bactisure, and includes minimal sales of SurgX and TorrentX.

$NXS The prospectus contains no forecasts - quite possibly due to 3M and ZB changes. An FY19E sales figure of $20M appeared in 2 AFR articles, HOWEVER - NXS issued a supplementary prospectus to iterate no reasonable basis for this number.

$NXS Board: Chairman is ex-MD of MPL and SIG. Also on the Board is the SHL chairman and CEO of former KKR investee iNova, plus ex-J&J execs (including CEO who is ex-COH and ex-GE). Disc: have a small position (scaled back to 55%)

@threadreaderapp unroll pls