Tissue Regenix Group PLC (AIM:TRX, OTC:TSSNF) said it is on track to meet full-year expectations after reporting double-digit revenue growth in the first six months of 2022.
The regenerative medical devices specialist said sales to June 30 were around US$11.8mln, up 25% year on year, or 27% at constant currencies.
Its cash position is sufficient to fund its growth ambitions, the group added.
In a trading update, TRX said the healthcare markets in the United States were beginning to return to pre-pandemic levels.
Investors were also told its BioRinse products continued their ‘robust growth’ and the commercial reorganisation of the dCELL line has begun to show benefits.
The focus for the remainder of 2022 will be on the company’s 4S strategy which is focused on areas of supply chain, sales revenue, sustainability and scale.
“We continue to be optimistic in delivering the financial performance anticipated by our Board for the second half of 2022,” said chief executive Daniel Lee.
The company’s products - spanning orthopaedics, dentistry, wound care and artificial ligaments - are based on two core technologies: the aforementioned BioRinse and dCELL.