Next Science (ASX:NXS) share price falls despite 'exciting future ahead'

The Next Science Ltd (ASX: NXS) share price slumped today following the company's 2021 AGM presentation. Let's take a closer look.

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Next Science Ltd (ASX: NXS) shares were on the slide today after the release of the company's 2021 AGM presentation. By market close, the Next Science share price was trading 2.01% lower at $1.71. This came following gains of almost 5% for the company's shares yesterday.

Next Science is focused on the research, development and commercialisation of technologies that aim to solve issues in human health caused by biofilms. The AGM was mainly focused on the company's BlastX wound-treatment products. Let's dive a little deeper into the presentation.

investor looking up as if watching asx share price

Image source: Getty Images

AGM presentation

Next Science markets itself as "the only company in the world solely dedicated to developing products that resolve biofilm based infections." The company's current focus is its wound-care product, BlastX, which has shown significant promise in accelerating the healing of major chronic wounds that are still before the necrotic stage.

The products work at removing pathogens from wound areas. While the company is still seeking some regulatory approvals in key markets, more than 15,000 patients have been treated using its products.

The Next Science share price was in the red today despite the company reporting "returned revenue to growth" in the fourth quarter of 2020. According to Next Science, Q4 revenue showed 75% growth on the same quarter in 2019. The company has commissioned a sales force of over 200 people in the United States and has capital raised $15 million to fund its product commercialisation.

Management comments

Next Science chair Mark Compton briefly admitted the challenges Next Science has faced in the US. He said:

Next Science is a relatively young company, with an exciting future ahead of it. There were many challenges in 2020, with key ones being the health risks to our staff and their families and the sales and marketing constraints of trying to engage a hospital and healthcare system totally focused on dealing with an all-consuming global pandemic that deeply penetrated the US.

As we look back to such a challenging year, I am pleased to report that much progress has been made at Next Science.

Next Science share price snapshot

Despite today's falls, the Next Science share price has gained almost 30% over the past month. It's also up by around 37% year to date. Over the past year, however, the company's shares have only gained 3.64%. Next Science has a current market capitalisation of around $345 million.

Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Nexus Energy Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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