What happened to the Next Science (ASX:NXS) share price last earnings season?

Shares in the Aussie biotech were smashed on Friday before recovering late in the day

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The Next Science Ltd (ASX: NXS) share price has staged a remarkable recovery on Friday afternoon. Shares in the Aussie medical device company were down 4.1% before closing 1% higher at $1.48 per share despite no new announcements.

Next Science's half-year results release is looming on 30 August and investors will be watching the Aussie biotech closely.

Let's take a look at how the Aussie biotech company's shares have performed in previous earnings seasons.

What happened to the Next Science share price last earnings season?

Last earnings season was in February when Next Science reported its full-year earnings for the period ended 31 December 2021 (FY20).

The Aussie biotech reported earnings on 22 February including the below highlights:

  • Fourth quarter revenue growth up 75% compared to Q4 2019
  • Patent portfolio increased to 31 patents
  • 2 CE Marks awarded (Bactisure and BlastX)
  • Successful $15 million capital raised to fund the commercialisation of XPerience in the US and support long-term growth

The Next Science share price charged higher in the lead-up to (and immediately after) the earnings release. That included an 18.6% surge from February 18 through to February 24.

However, shares in the Aussie biotech didn't return to that $1.40 per share closing price level again until mid-April.

As it stands currently, the company has a market capitalisation of $293 million based on Friday's closing Next Science share price of $1.48 per share. The Aussie biotech share fell lower in June after it lowered earnings guidance for the second half of FY21.

Next Science said it is forecasting revenue of between $3.5 million and $4 million through to 30 June 2021. That was lower than initially predicted in the February earnings season with hopes for a similar growth trajectory to continue.

Foolish takeaway

The Next Science share price was smashed on Friday before pulling off a late-afternoon recovery. The ASX biotech share ultimately closed the day up 1% having been down 4.1% around lunchtime.

Investors will be hoping the group's half-year result on 30 August will be enough to kickstart the Aussie biotech share similar to what we saw in February.

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Next Science 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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