bullish
PolyNovo Ltd (PNV AU): Shares Are Rallying Fueled by Strong US Sales and New Product Approval
211 Views22 Oct 2022 17:33
SUMMARY
- PolyNovo Ltd (PNV AU) reported 73% y/y revenue growth to A$12.5M in Q1FY23, driven by the U.S. The company reported record high monthly sales of A$5.4M in September 2022.
- The company is aggressively expanding team and the increased headcount is having the desired impact on sales growth and loss continues to be minimized compared to business expansion.
- PolyNovo received FDA clearance for NovoSorb MTX, which expands PolyNovo’s U.S. addressable market by ~A$500M. The company plans to launch SynPath in the U.S. in 2023 (addressable market ~$400M).
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Top Quartile
Tina Banerjee
Global Healthcare Analyst
- PolyNovo (PNV AU): FY23 Result- Sales Momentum Accelerates; Net Loss Widens on Higher Opex29 Aug 2023
- PolyNovo (PNV AU): 1H23 Result- Growth Trajectory Continues; Fund Raising Strengthens Balance Sheet24 Jan 2023
- PolyNovo Ltd (PNV AU): Shares Are Rallying Fueled by Strong US Sales and New Product Approval22 Oct 2022
- PolyNovo (PNV AU): Positive Momentum in U.S. Is Overshadowed by Cost Pressure and Lofty Valuation26 Mar 2022
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