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.
Image source: Getty Images
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.
