Next Science shares soar after surgical rise gets FDA nod
Health & Biotech
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Next Science (ASX:NXS) shares are up more than 25 per cent in early trade to an 11-month high after the Sydney medical technology company’s surgical antimicrobial solution was approved for sale in the United States.
Sales of Next Science’s XPerience No Rinse Antimicrobial Solution will begin immediately in the US using a third-party distribution network following the US Food and Drug Administration granting 510(k) clearance, the company said.
The solution is designed for use in virtually every open surgery (surgery involving large incisions), with an initial focus on shoulder, hip, knee, trauma and podiatry, Next Science said.
“With market-leading performance in pathogen reduction where bacteria like MRSA (‘golden staph’) can be eliminated so that less than 1 bacterium in a hundred million is present, we expect the product will become a first choice in the battle to reduce surgical site infection,” said Next Science managing director Judith Mitchell.
There are an estimated 234 million surgeries globally each year, and surgical site infections are a major cause of complications and death across the world, Next Science noted. In the US alone, it’s estimated that surgical site infections add an additional $US3.5 billion to $US10 billion to the cost of healthcare.
Next Science says its Xbio technology disrupts the biofilm structures that bacteria use to protect themselves from antimicrobial agents.
The company has four products on the market, for treating chronic wounds, acne and for use in surgeries, but launching the XPerience solution is the company’s biggest priority for the year. The company raised $8 million for the launch last year.
At 11am, Next Science shares were up 26.8 per cent to $1.80, their highest level since May 2020.