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Orthocell Ltd ( (AU:OCC) ) just unveiled an update.
Orthocell Limited reported a record revenue of $2.73 million for the June quarter, driven by strong sales of its nerve repair product, Remplir™, in Australia. This marks a 22.8% increase from the previous quarter and the fifth consecutive quarter of record revenue. The company is poised for further growth as it prepares to ramp up Remplir™ sales in the US, supported by a network of 14 specialist nerve distributors across 25 states. With a solid foundation in place, Orthocell aims to capitalize on the US$1.6 billion US nerve repair market, following the successful first surgical use of Remplir™ in the US.
The most recent analyst rating on (AU:OCC) stock is a Buy with a A$1.32 price target. To see the full list of analyst forecasts on Orthocell Ltd stock, see the AU:OCC Stock Forecast page.
More about Orthocell Ltd
Orthocell Limited is a regenerative medicine company specializing in nerve repair products. Its flagship product, Remplir™, is a collagen wrap used in nerve repair surgery to enhance outcomes in the repair and regeneration of damaged nerves. The company is focused on expanding its market presence in Australia and the US, with a strong balance sheet and no debt.
Average Trading Volume: 1,294,154
Technical Sentiment Signal: Buy
Current Market Cap: A$304.2M
See more insights into OCC stock on TipRanks’ Stock Analysis page.