No need denying there will be competition. Meanwhile company had to invest in increasing production (2-3 times) as production wasn’t already sufficient to meet current demand. Demand is and will be increasing due to people starting or shifting to gummies. Gummies being a high margin product will add to the bottom line greatly. Besides this the company is licensed to produce MDMA and psilocybin. I’m pretty sure with Kennedy leading the FDA (and being very positive about the use of those to treat people with depression, anxiety or stress disorders etc). MDMA and psilocybin related companies will rerate (Bioxyne included). There will be competition but Bioxyne has got the first mover advantage in Australia, no way they’ve topped, what we’ve seen is only the beginning. It’s a buy for me and if it’s 3 cents or less it will become a strong buy. No investment advice, just my personal opinion, do your own research.
BXN Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
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