Biome Australia soars on higher FY23 revenue forecast

Biome Australia

04/10/2022 03:55

** Shares of biotech services firm Biome Australia  BIO.AX 
rise as much as 9.6% to A$0.08, their best intraday gain since
May 30 
    ** Forecasts FY23 revenue of A$7 million ($4.55 million),
higher than the A$4.1 million recorded in FY22  urn:newsml:reuters.com:*:nASX6rCFwb 
    ** Reports a 70% rise in revenue to A$1.6 million for the
quarter ended September, managing director and founder Blair
Norfolk says it was the "best quarter to date"
    ** "Biome’s distribution footprint has achieved sufficient
scale to continue rapid growth for the coming years," Norfolk
adds
    ** BIO hits highest level since Sept. 12
    ** Stock down 39.2% YTD, as of last close 
($1 = 1.5382 Australian dollars)
 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))