Proactive's Tylah Tully breaks down ‘Just the Facts’ of the latest news from Orthocell Ltd (ASX:OCC, OTC:ORHHF).
The company has reported record revenue of A$2.21 million for the December 2024 quarter, marking its third consecutive quarter of growth. This reflects a 9% increase from the A$2.03 million achieved in the September quarter and a 46% rise from A$1.51 million in the December 2023 quarter.
The growth is attributed to the success of its regenerative medical devices, Striate+™ for dental bone regeneration and Remplir™ for peripheral nerve repair.
The company is targeting a global market opportunity estimated at US$4.5 billion across nine jurisdictions, with FDA approval for Remplir in the US anticipated by March/April 2025.
This approval could unlock access to the US$1.6 billion nerve repair market. Striate+ is distributed globally by BioHorizons Implant Systems and Remplir is distributed by Device Technologies in Australia, New Zealand and Singapore.
Orthocell is pursuing further international regulatory approvals while maintaining financial stability with A$31 million in cash and a forecast A$3 million R&D rebate this quarter. The company highlights increasing demand and traction in existing markets as drivers of its growth.