BUZZ-Australia's Orthocell climbs to 2-week high as co floats expansion plans

Reuters

2025/01/22

** Shares of Orthocell OCC.AX rise 15.4% to A$1.500, their highest levels since Jan 6

** The regenerative medicine firm says that it plans to enter key markets such as Canada and Thailand, among others, in CY2025

** Orthocell recently submitted its USFDA regulatory application for the clearance to distribute its nerve drug Remplir in the $1.6 bln (A$2.55 bln) U.S. market commercially

** Co expects approval in March/April 2025

** About 3.4 mln shares trade hands, 1.9 times the 30-day average of 1.8 mln

** Stock rose 230.5% in 2024

(1 Australian dollar = $0.6266)

(Reporting by Manasi Dasa Sundeep in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))

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