Orthocell Ltd (ASX: OCC) shares are catching the eye on Thursday morning.
At the time of writing, the ASX All Ords stock is up 7.5% to $1.08.
Image source: Getty Images
Why is this ASX All Ords stock jumping?
Investors have been buying the regenerative medicine company's shares this morning after it released a promising update.
According to the release, the company notes that the adoption of its Remplir product by Australian urologists is accelerating.
It highlights that the product is increasingly being used during prostate cancer surgery in a promising new application aimed at reducing post-surgical complications from peripheral nerve injury.
So much so, Remplir has now been used in ~100 surgical cases to assist in improving recovery of erectile function and urinary continence post-surgery.
Why is this a big deal?
The ASX All Ords stock believes that using Remplir in nerve-sparing RARP presents a significant opportunity.
It estimates that this could expand its total addressable market in the United States from US$1.6 billion to approximately US$2 billion. This is based on an estimated ~115,000 prostatectomies performed annually in the country, the majority of which are conducted robotically.
In order to capitalise on this opportunity, Orthocell is establishing a commercialisation advisory board and investing in additional research to strengthen the scientific evidence base for this innovative peripheral nerve repair application, ahead of a targeted US product launch in the medium term.
In addition, it is collating clinical data on initial patients who underwent radical prostatectomies with Remplir in Australia. This data will be released once compiled and will support the scientific foundation for formal product launch in existing approved markets.
The company also provided an update on its performance in the United States. It revealed that the Remplir rollout continues to track according to plan, with over 4,000 units now shipped into the United States.
Management highlights that the initial U.S. surgical cases continue to build with in-country representatives making significant progress working with distributors to gain hospital approvals, on-board surgeons, and establish active accounts.
Commenting on the news, the ASX All Ords stock's CEO and managing director, Paul Anderson, said:
We're thrilled to see Remplir being adopted by urologists in Australia for nerve-sparing prostate surgery, reflecting its broader potential in peripheral nerve protection and repair. This demonstrates the utility of the product and represents the potential for a meaningful step forward in improving patient outcomes following these complex surgeries.
