Osteopore (ASX: OSX), a revenue-generating manufacturer of regenerative implants that empower natural tissue regeneration, has signed off on a sixth straight quarter of revenue growth.
During the June quarter, the company also commenced first in-human knee preservation clinical trials in Singapore. The trials commenced with Heparan Sulphate 3 (HS3) and aXOpore® via High Tibial Osteotomy at National University Hospital Singapore.
Other operational highlights including a partnership with SingHealth to create a GCoE at Singapore General Hospital, providing the platform to maximise patient outcomes via high-value products. Osteopore also progressed its $18.7m partnership with NDCS and A*STAR from adverse reaction and osteogenic differentiation testing towards in-vivo studies in biological models.
An entitlement offer completed during the quarter raised $2.86m for Osteopore. Funds have strengthened the balance sheet and working capital and will help underpin sales momentum, M&A and R&D opportunities.
“The business remains dedicated to creating the optimal conditions for revenue growth, contributing to record Q2 revenues – our sixth straight quarter of unbroken revenue growth – with revenues peaking at 28% year on year and 3% quarter on quarter,” executive chairman Mark Leong said.
“We continue to seek new ways to improve our cost centre performance while streamlining expenses. Osteopore recognises the continued support of our investors, partners and the surgical community as we embark on the next chapter of our business, built on a raft of exciting M&A and R&D opportunities in high-growth markets.”
Osteopore had a cash balance of $2.2 million at June 30.
