The Australian share market is back on form on Thursday.
In morning trade, the All Ordinaries index is up 0.5% to 8,823.2 points.
One ASX All Ords stock that is outperforming the index is named below. Let's see why its shares are jumping today.
Image source: Getty Images
Which ASX All Ords stock?
The stock that is getting attention from investors today is Orthocell Ltd (ASX: OCC).
It is a regenerative medicine company with a focus on regenerating mobility for patients by developing products for the repair of a variety of bone and soft tissue injuries.
At the time of writing, its shares are up almost 6% to $1.29.
Why is it jumping?
This morning, the ASX All Ords stock announced that it has recorded its first sales revenue from its flagship Remplir nerve repair product in the United States market.
Remplir is a collagen wrap used in nerve repair surgery to improve regeneration of damaged nerves and patient outcomes.
Management highlights that this "critical milestone" in the commercialisation of Remplir in the US$1.6 billion US market follows the first surgical use of Remplir on 26 June and subsequent early surgical cases.
It also highlights that the achievement marks a transition from US FDA 510(k) clearance for Remplir to first sales revenue in just over three months.
Surgical cases conducted to date have been sourced from Orthocell's network of nerve repair specialist distributors. Furthermore, it feels that in addition to building crucial surgical knowledge and experience with Remplir, the early surgical cases have been an important real-world validation of the order fulfilment process coordinated by on-the-ground logistics partner Uniphar and the associated customer invoicing requirements.
'Perfect strategic platform'
The ASX All Ords stock's CEO and managing director, Paul Anderson, was pleased with the news. He said:
Translating Remplir's regulatory clearance in the US to first sales revenue in a little over three months is a testament to the hard work we've done with our US roll out plan. This covers everything from our key internal hires in sales, marketing and medical affairs, appointing specialist distributors, Australian manufacturing ramp up and working with our on-the-ground US logistics partner.
I must stress these early-stage day surgery cases are an ideal starting point and represent the perfect strategic platform to build from. This approach is similar to the market access model we have successfully undertaken in Australia where early surgery cases build familiarity and knowledge, leading to widespread adoption and therefore revenue growth. We expect to follow a similar path in the US, albeit on a far larger scale. We are confident our efforts in the US are on track to drive growth in sales of Remplir during the second half of calendar 2025.
