"Revenue from Indian operations has grown by 73.1% to $544,000. Brand awareness of NovoSorb BTM has risen considerably resulting in significantly increased market share. Progress in securing public tender hospital mandates has been slower than initially expected on account of having to navigate a complex web of individual hospital rate contracts and administrative approvals, but the Company is confident that the fundamentals of its Indian operations remain strong."
Not surprising, given this is a completely new product for the market, as none of the manufacturers of biological matrices have even attempted to sell their product there.
"Prototypes for Hernia repair & Plastic and Reconstructive mesh products entered pre-clinical stage."
Both the CEO and Chairman are now talking more about new products, which is very exciting to hear.
PNV Price at posting:
$2.03 Sentiment: Buy Disclosure: Held
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