Polynovo Ltd (ASX: PNV) shares have come flying out of the gates on Wednesday.
In morning trade, the ASX 200 healthcare stock is up 8% to $1.45.
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Why is this ASX 200 healthcare stock jumping?
Investors have been scrambling to buy PolyNovo's shares today after it achieved a record month of sales in November.
According to the release, the company reported unaudited sales of $8 million for the month. This was driven by strong growth in both the United States and its Rest of World businesses.
The U.S. business reported monthly sales of $6.1 million, which was an increase of 74% on the same time last year.
Whereas the ASX 200 healthcare stock's Rest of World business grew its sales even stronger, albeit from a small base. It reported sales of $2.7 million for the month, which is an increase of 290% on the prior corresponding period. Management notes that there was strong growth in the UK and Ireland, ANZ, and the Middle East regions.
Total group revenue for the month, including BARDA was $9.5 million, which is up ~110% year on year.
'Redefine healing across the world'
The ASX 200 healthcare stock's CEO, Swami Raote, was pleased with the month. He said:
NovoSorb BTM continues to redefine healing across the world. Clinicians are taking advantage of its simplicity and versatility to manage complex wounds effectively. We are grateful to our surgeons, for their support in driving innovation and education as evidenced by over 237 publications across multiple indications. We are gaining momentum, with over 34,900 patients treated so far. As proud as we are of our progress, we are working hard to reach and touch many more lives with this disruptive technology platform.
The PolyNovo share price remains down over 20% since this time last year.
