Osteopore Strengthens Balance Sheet to Extend Sales Runway and Pursue Acquisitions

Osteopore Ltd (ASX: OSX) has raised $2.9 million from an entitlement offer at $0.029 per share.

The offer also includes one free option for every five shares subscribed for, exercisable at $0.0387, and expiring 2nd April 2026.

Osteopore is a Singapore founded company, and a global leader in 3D-printed biomimetic and bioresorbable implants.

The company’s bioresorbable implant is the first of its kind to be successfully developed and commercialised for surgical use.

These implants heal bone naturally, and are made of a bioresorbable polymer that dissolves over time, leaving only natural, healthy bone.

The impact is this reduces post-surgery complication rates significantly, compared to permanent implants.

This is done by leveraging the combined technologies of tissue engineering, regenerative medicine, and 3d printing techniques.

Use of funds

The fresh funding will strengthen the company’s balance sheet and maintain sales momentum.

This will also support the development of breakthrough products, secure market approvals, acquire complementary technologies, and to explore for mergers and acquisition.

Osteopore continues to work towards developing the optimal conditions for revenue growth.

While at the same time exploring different ways to improve the performance of its cost centres and streamline expenses.

These changes are expected to take effect during 2024.

Revenue growth

For the March quarter 2024, the company achieved its fifth straight quarter of uninterrupted revenue growth.

This saw revenues peaking at 76% year-on-year, and 15% quarter-on-quarter.

Osteopore recently secured Singapore and Vietnam market approvals for aXOpore®.

This regulatory clearance validates its orthopaedic products and strengthening its position in the global orthopaedics market.

 

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