Biome Australia hits 2-week high on further upgrade to FY24 forecast

Biome Australia

12/06/2024 01:37

** Shares of Biome Australia  BIO.AX  rise as much as 20.3%
to A$0.385, their highest level since May 29
    ** Stock on track for its best day since May 28, if gains
hold
    ** Health co expects to exceed its upgraded revenue forecast
of A$12.5 mln ($8.26 mln) for FY24
    ** BIO posted unaudited sales revenue of A$7.23 mln in FY23
    ** Co sees second consecutive quarter of positive underlying
operating cashflow and EBITDA in Q4
    ** Says forecast due to strong sell-through numbers in
pharmacy and practitioner channels
    ** More than 570,000 shares change hand, compared to 30-day
average trading volume of 266,775 shares 
    ** Stock up more than 50% YTD, as of last close 
   


($1 = 1.5135 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))