Guess which ASX healthcare share is booming 28% on a sales boost

Investors are bidding up the ASX healthcare share after the company reported it's on track to substantially exceed product sales reported in FY22.

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The All Ordinaries Index (ASX: XAO) is up 0.2% today, but this little-known ASX healthcare share is leaving those gains in the dust.

Any guesses?

If you said medical technology stock Next Science Ltd (ASX: NXS) go to the front of the class.

The ASX healthcare share closed yesterday trading for 48 cents. Next Science shares were fetching 61.5 cents in earlier trade, up more than 28%. At the time of writing, shares are swapping hands for 58 cents, for an intraday gain of 21%.

Here's what's piquing investor interest today.

What did the ASX healthcare share report?

The Next Science share price is rocketing after the company reported "continuing improvement" in its business performance in the current quarter.

With just two days left in June, the ASX healthcare share said it expects unaudited product sales for 2QFY23 to come in above US$5.6 million (AU$8.5 million). That's up from reported product sales of US$4.4 million in the prior quarter.

Next Science reported that with the second quarter almost concluded, the company is clearly on track to "substantially exceed product sales" of US$5.2 million reported in 1HFY22 as well as the US$6.1 million reported in 2HFY22.

Management of the ASX healthcare share attributed the strong performance to increased investments in sales and marketing. They added that this "will continue during the establishment phase of our direct sales model for key products".

Among the quarter's highlights, monthly sales in Next Science's Wound Care DME business exceeded $1 million in April.

Likely helping stir investor enthusiasm, the company noted, "Operating momentum has continued through the current quarter with ongoing evidence of sales traction in the commercial wound care market."

Next Science share price snapshot

Despite today's big intraday boost, the ASX healthcare share remains down 11% in 2023.

Next Science is focused on commercialising its proprietary XBIOTM suite of products to reduce the impact of biofilm-based infections on human health.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Next Science. 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 Scott Phillips.

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