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Tissue Repair Ltd ( (AU:TRP) ) has provided an announcement.
Tissue Repair Ltd reported progress in its December 2024 quarter, highlighting developments in its Phase 3 trial of TR987® for chronic wounds despite some delays due to US storms and FDA protocol amendments. The company anticipates US device approval within 12-18 months, which could enhance its market entry ahead of drug approval, offering significant economic benefits. In parallel, TR Pro+® has seen a 35% increase in sales, with strong growth in the Australian market and plans to expand distribution channels. The company is investing an additional US$1M in manufacturing to support global distribution and enhance production efficiencies. Financially, Tissue Repair holds $14.4 million in cash, with operating outflows primarily directed towards product development and commercialization efforts.
More about Tissue Repair Ltd
Tissue Repair Ltd operates in the biotechnology industry, focusing on developing treatments for chronic wounds and products for cosmetic and medical procedures. Its primary products include TR987®, aimed at treating chronic wounds, and TR Pro+®, used in cosmetic and medical applications. The company is active in both the US and Australian markets and is looking to expand its presence in the aesthetics and pharmacy channels in Australia and New Zealand.
YTD Price Performance: 1.79%
Average Trading Volume: 38,491
Technical Sentiment Consensus Rating: Buy
See more data about TRP stock on TipRanks’ Stock Analysis page.
