Orthocell (ASX:OCC) shares popped +10% on Tuesday as the company reported its flagship nerve repair product, Remplir, is being used by some Australian urologists in seeking to mitigate complications that typically follow prostate cancer surgery.
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Long story short, up to 80% of men who undergo a prostate cancer surgery come out on the other side suffering from nerve damage that ultimately causes erectile dysfunction and, less often, incontinence.
(The implications here from a value prop point of view are fairly obvious.)
Work to date is at an early stage. “Orthocell is currently collaborating with urologists to collect and analyse retrospective outcome data from these nerve-sparing procedures using Remplir, with data to be released once available,” the company wrote; still, market response has been bullish. At least intraday on Tuesday.
All cards in order, the company is hopeful this can expand the addressable market for Remplir; to date, the company has been focusing on the U.S. market.
But after reporting in June that Remplir had been used in a U.S. surgery for the first time, price action suggested some holders were nervous the company’s progress mightn’t be coming along as fast as was perhaps hoped after locking in a U.S. distro deal in April.
“The use of Remplir in nerve-sparing robotic-assisted radical prostatectomy highlights the product’s versatility and superior performance in the protection and reconstruction of damaged peripheral nerves,” OCC CEO Paul Anderson said, in a show of confidence for the application before compliant data has been assessed and disclosed.
“Surgeons across multiple specialties—including orthopaedics, plastic and reconstructive surgery, and now urology—are increasingly adopting Remplir to simplify procedures, minimise scarring, and improve functional recovery.”
It’s been enough to reignite enthusiasm from the market; liquidity in the stock was double the four-week average heading into lunchtime (turnover of $1.05M a/a 11.50am AEST according to Market Index data).
OCC last traded at $1.22/sh, at time of writing.
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