Bioxyne (ASX: BXN) shares soared to an intraday high of $0.026 yesterday, up from a close of $0.006 on Wednesday after outlining a $348,000 net profit in its quarterly report.
Shares closed the day 200% higher at $0.018.
Bioxyne was capitalised at just $1 million before the price rise, and retained around $1 million in cash.
Traders cottoned on to the report which showed record revenue of $933,000 from the sales of its probiotics products.
This represented a net cash flow increase on the prior quarter of $506,000, taking into account $157,500 from the cash component of the proceeds from the successful sale of wholly owned subsidiary Hunter Immunology.
With its improved cash balance, Bioxyne is looking to expand operations.
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