The Orthocell Ltd (ASX: OCC) share price is up 25% to 50 cents today after the regenerative medicine researcher announced trial results showed its medical device CelGro® had helped quadriplegics regain arm and hand functions.
CelGro® is reportedly used by surgeons to help patients regain muscle function via nerve regeneration treatment.
According to the company 12 patients undertook the trial with 86% of them subsequently reducing or ceasing to need prescription medication for chronic nerve pain 12 months after their treatment with CelGro®.
While 96% of “nerve repairs restored voluntary movement to previously paralysed muscle” in allowing previously quadriplegic patients to now undertake some common everyday tasks.
Orthocell estimates CelGro®’s addressable market to be worth around US$1.1 billion annually, with 700,000 procedures completed each year that could be improved by CelGro®.
All this sounds exciting and at 50 cents per share Orthocell now has a market value around $74 million. For the 12 months to June 30 2019 it posted a net loss of $5.8 million on sales of $945,657.
I would not suggest buying Orthocell shares myself, but the share price action shows it’s exciting risk on investors.
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The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.