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Bioxyne upgrades FY25 outlook by $3m to $28m on rising demand for psychedelic drug therapies

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By Imelda Cotton - 
Bioxyne ASX BXN full year FY2025 revenue guidance
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Diversified health products company Bioxyne (ASX: BXN) has upgraded its full-year revenue guidance for financial year 2025 by $3 million to $28m.

The upgrade follows reported revenue of $12.6m for the first six months of the year, which represents a 267% increase on the previous corresponding period (pcp).

Bioxyne is forecasting revenue of $15.4m for the second half, which would be a 226% improvement on the pcp.

Pharmaceutical trends

Australian pharmaceutical manufacturing and supply trends were a key driver of the upgrade and Bioxyne expects continued growth in its Australian operations alongside significant progress in Germany and the UK.

Wholly owned subsidiary Breathe Life Sciences – which currently leads the Australian market in the manufacture of medicinal cannabis, MDMA and psilocybin products for supply to authorised prescribers and clinical trials here and overseas – also contributed to the positive financials.

Bioxyne operates in medical cannabis markets with estimated annualised revenues of more than $3 billion in 2025.

Australia and Germany each represent a $1b market opportunity per year, while high-growth opportunity markets in the UK and other European Union countries represent a further $1b.

Projected growth

Industry research is projecting the global psychedelic drugs market to grow to $14b by 2032, with post-traumatic stress disorder treatments representing $3.5b per year and treatment-resistant depression representing $5b.

Bioxyne said the numbers reflect increasing acceptance and demand for psychedelic-assisted therapies.

The company is progressing the development of MDMA capsules BLSMD40 and BLSMD100 and has targeted the start of commercial batch production in July.

Manufacturing agreement

Breathe Life Sciences has formalised a $7m manufacturing and supply agreement with healthcare company and existing customer NectarTek Australia.

The contract includes minimum order volumes comprising $3.6m worth of pastilles, $2.5m of packed flower products, $500,000 of vapes and $500,000 of oral mucosal oils.

NectarTek has committed to ordering these volumes over the next 12 months, representing a 200% increase on its historical orders from Breathe Life Sciences.