From The Bull and...

From The Bull and current...

https://thebull.com.au/eight-top-asx-stocks-for-2024/

PolyNovo (PNV)Bromley says this rapidly growing business is on the brink of transitioning to profitability. PolyNovo’s key offering is a biodegradable foam-like polymer technology that seals wounds and burns. Bromley says the NovoSorb technology enables the patient’s own cells to re-grow into and take over the bioabsorbable material, readying the area for a skin graft.PolyNovo directly supplies more than 700 hospitals in Australia, the UK, the US, the Middle East, New Zealand, Hong Kong, Singapore, Ireland and India. Bromley says the huge Indian market provides an opportunity to increase market share.“PolyNovo’s innovative products are competitively priced and are often significantly cheaper than competitors in major markets,” Bromley says. “Consequently, the company’s products and pricing power appeals to hospitals searching for the best available solution.”The company generated unaudited record monthly sales of $8.8 million for November 2023. Total revenue of $66.5 million in fiscal year 2023 was up 58.8 per cent on the prior corresponding period.“What appeals about PolyNovo is an ability to deliver revenue growth year-on-year,” Bromley says. “The company continues to expand geographically, which generates new revenue streams. The company’s investment in products and staff should reward investors moving forward. In our view, the company offers a bright outlook in fiscal year 2024 and beyond.”