ASX biotech chair scoops up more stock

The chair of this biotech leader has bought up more stock ahead of another expected solid year of growth.

| More on:
Female scientist working in a laboratory.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

PolyNovo Ltd (ASX: PNV) chair David Williams has scooped up another $52,000 worth of shares in the synthetic skin company, buying another 37,000 shares on the open market.

Mr Williams paid $1.41 per share for the new stock in the company, and it brings his holdings to 21.4 million shares, worth just shy of $30 million at the current share price of $1.40.

It wasn't the only share move announced on Thursday, with investment bank JPMorgan Chase & Co. increasing its stake from 7.7% of the company to 9.9%, or just a touch more than 69 million shares.

PolyNovo shares have dipped from levels around $1.50 over the past few days, perhaps influenced by their impending removal from the S&P/ASX 200 Index (ASX: XJO), which was announced last week.

Sales expected to grow

The company said in its annual report released this week that sales of its NovoSorb product were up 28.9% in FY25 to $118.6 million, and its net profit was up 151.2% to $13.2 million.

PolyNovo's chair, Mr Williams, and acting chief executive, Dr Robyn Elliott, said in an address in the annual report that they expected another strong year.

We expect to see continued sales growth in direct markets, especially the US, Australia, New Zealand, Canada and India, where multiple products have received relevant regulatory clearance. As the clear market share leader across several European markets, we expect that trends seen elsewhere, including the expansion of indications, will continue to drive growth.  

JPMorgan Chase is an advertising partner of Motley Fool Money. Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended JPMorgan Chase and PolyNovo. The Motley Fool Australia has recommended PolyNovo. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Healthcare Shares

A group of people in a corporate setting do a collective high five.
Healthcare Shares

Why 4DMedical shares are jumping 14% today

4DMedical shares climb on a new CFO appointment as investors focus on US expansion and rising use of its lung…

Read more »

A business woman flexes her muscles overlooking a city scape below.
Healthcare Shares

Why I plan to buy this incredible ASX 200 stock in 2026

A 33% pullback has put Pro Medicus back in focus. Here’s why I’m preparing to buy its shares in 2026.

Read more »

research with microscope
Healthcare Shares

This ASX healthcare stock just changed its debt. Here's why it matters

Shares in Mesoblast edge higher after the company announces a major change to its debt and funding structure.

Read more »

stock growth chart
Healthcare Shares

Will CSL shares crash again in 2026?

CSL shares have fallen almost 40% in 2025. Investors are now asking if the worst is already behind the stock.

Read more »

Stethoscope with a piggy bank and hundred dollar notes.
Healthcare Shares

Here's the dividend forecast out to 2030 for Sigma shares

This business could pay healthy dividends in the coming years…

Read more »

A medical researcher rests his forehead on his fist with a dejected look on his face while sitting behind a scientific microscope with another researcher's hand on his shoulder as if giving comfort.
Healthcare Shares

Mayne Pharma signals short-term pain as it resets for growth

It has been a turbulent year for Mayne Pharma after the terminated takeover bid by US company Cosette Pharmaceuticals.

Read more »

A man packs up a box of belongings at his desk as he prepares to leave the office.
Healthcare Shares

Regis Healthcare shares down 2% as CEO resigns

Dr Mellors will step down as CEO after more than six years in the role.

Read more »

Beautiful young woman drinking fresh orange juice in kitchen.
Healthcare Shares

Telix shares storm higher on big US and China news

Let's see why this biotech is getting attention on Monday.

Read more »