Tissue Repair Ltd (AU:TRP) has released an update.
Tissue Repair Ltd has announced progress in its March 2024 quarter, highlighting the advancement of their chronic wound treatment, TR-987, which is on track for Phase 3 trials and a Therapeutic Goods Administration (TGA) application. The company also celebrated the highest ever monthly sales of TR Pro+ following its launch, now available in over 100 clinics. Despite a cash outflow of $1.394 million for the quarter, largely for TR-987’s development and TR Pro+’s commercialization, Tissue Repair maintains a strong cash position of $18.1 million, with future R&D tax incentives expected to provide additional financial stability.
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