Investors have pushed shares in Tissue Regenix (TRX) up by about 150 per cent over the past nine months in anticipation of a now imminent product launch. The medical devices company is preparing to start selling its DermaPure product - aimed at treating chronic wounds - before the end of July.
It will be the first product modelled off the group's patented 'dCell' technology platform, which removes DNA from animal and human tissue. The extracted material is then re-inserted into patients and diseased or wounded parts of the body are naturally regenerated. The process is particularly suited to cardiovascular patients or those undergoing joint replacement.
Tissue Regenix is lucky, too: because its product is classed as a medical device rather than a pharmaceutical product, the company has benefited from a faster and more efficient regulatory process. Around 40 sales representatives have been mobilised across 25 states, and are poised to promote the product into acute-care and veteran hospitals. A sales force should exist across most of the country by the end of the year.
As part of the launch, Tissue Regenix will also start a new US clinical trial to evaluate whether DermaPure can successfully treat diabetic foot ulcers.
TISSUE REGENIX (TRX) | ||||
|---|---|---|---|---|
| ORD PRICE: | 25p | MARKET VALUE: | £163m | |
| TOUCH: | 24-26p | 12-MONTH HIGH: | 32p | LOW: 9p |
| DIVIDEND YIELD: | nil | PE RATIO: | na | |
| NET ASSET VALUE: | 3p | NET CASH: | £18.5m | |
| Year to 31 Jan | Turnover (£000) | Pre-tax profit (£m) | Earnings per share (p) | Dividend per share (p) |
|---|---|---|---|---|
| 2010* | 74 | -0.7 | -0.27 | nil |
| 2011 | 173 | -5.7 | -1.48 | nil |
| 2012 | 109 | -2.9 | -0.57 | nil |
| 2013 | 49 | -4.0 | -0.55 | nil |
| 2014 | 6 | -6.3 | -0.88 | nil |
| % change | -88 | - | - | - |
Ex-div: na Payment: na *Short accounting period - six months to January 2010 | ||||
