ReNerve - Q2 FY25 Activities Report & Appendix 4C
| Stock | RNV.ASX (RNV.ASX) |
|---|---|
| Release Time | 29 Jan 2025, 9:57 a.m. |
| Price Sensitive | Yes |
ReNerve - Q2 FY25 Activities Report & Appendix 4C
- Achieved strong sales growth, with Q2 FY25 sales up 260% and 1H FY25 sales up 167% vs prior year
- Expanded into new markets through exclusive distribution agreements in Hong Kong/Macau and the Middle East
- Ongoing clinical study investigating NervAlign® Nerve Cuff, with results expected in Q3 FY25
ReNerve Limited, an Australian biotechnology company developing innovative products for peripheral nerve injury repair, has reported its Quarterly Activities Report for the period ended 31 December 2024 (Q2 FY25). Key highlights include: Achieved strong sales growth, with Q2 FY25 sales of A$52K representing a 260% increase on the prior comparable period (Q2 FY24), and preliminary unaudited sales for 1H FY25 of A$102K, a 167% increase on the prior year. Expanded into new markets through exclusive distribution agreements, including with Accession Medical Supplies Co. for sales and marketing of the NervAlign® Nerve Cuff in Hong Kong and Macau, and with Union MediScience B.S.C. for the Middle East region. Ongoing clinical study investigating the NervAlign® Nerve Cuff, with results expected to be presented at the American College of Foot and Ankle Surgeons Conference in March 2025. The study will compare patient outcomes with and without the use of the NervAlign® Nerve Cuff. ReNerve also provided updates on the development of its other PNI product portfolio, including the NervAlign® Nerve Conduit, Nerve Guide Matrix, and Bionic Nerve. The company ended the quarter with a strong cash position of A$6.4 million.
ReNerve reported preliminary unaudited sales for 1H FY25 of A$102K, representing a 167% increase on the prior year period.
ReNerve is focused on expanding sales of its NervAlign® Nerve Cuff product in its core US market, as well as new markets through the exclusive distribution agreements announced during the quarter. The company is also progressing the development of its broader PNI product portfolio, with upcoming FDA clearance submissions planned for the NervAlign® Nerve Conduit, Nerve Guide Matrix, and Bionic Nerve.