Why the Orthocell (ASX:OCC) share price is edging higher today

The Orthocell (ASX: OCC) share price is edging higher as the company said it has completed an important step in obtaining a CelGro licence.
The post Why the Orthocell (ASX:OCC) share price is edging higher today appeared first on The Motley Fool Australia. –

asx medical share price represented by x-ray or people shaking hands

The Orthocell Ltd (ASX: OCC) share price is edging higher today. This comes after the company announced it has completed an important step to obtaining its commercial licence in Australia for its CelGro medical device.

During market open, the Orthocell share price reached as high as 43.5 cents. However, at the time of writing, the company’s shares have slightly retreated to 42.5 cents, up 1.2%.

Quick take on Orthocell

Orthocell focuses on the development and commercialisation of novel collagen medical devices and cellular therapies.

Its lead product, CelGro, facilitates tissue repair and healing in a variety of orthopaedic, reconstructive and surgical applications. This includes treating defects in areas of the body such as tendons, bones, nerves and cartilage.

Orthocell recently received European regulatory approval for CelGro, allowing the collagen medical device to be sold within the European Union. In addition, the company is striving for approval in the United States and Australian markets.

What’s moving the Orthocell share price today?

The Orthocell share price is in positive territory today as investors appear pleased with the company’s latest update.

According to its release, Orthocell has successfully completed the Therapeutic Goods Administration (TGA) conformity assessment process for CelGro .

The regulatory application looked at the safety and performance of CelGro in dental bone and tissue regeneration procedures. Furthermore, the conformity assessment reviewed the company’s management system and manufacturing process.

What’s next for Orthocell?

Following the positive outcome announced today, Orthocell has begun its application for market authorisation from the TGA to commercialise CelGro. The company anticipates the application will be completed within the first quarter of the new calendar year.

Orthocell has also progressed its application to the Prostheses List Advisory Committee for an inclusion on the prostheses list. This will enable the company to be reimbursed for its products by private health insurance agencies when patients have hospital cover. This application is expected to be finalised towards the last quarter of 2021.

Lastly, based on the successful completion of the conformity assessment, Orthocell believes it’s well placed to obtain US approval for CelGro next year.

What did management say?

Mr Paul Anderson, Orthocell managing director, commented on the achievement, saying:

This is an important milestone for the Company as we continue to commercialise our collagen medical device platform and I am excited to complete this important step towards gaining Australian and US FDA regulatory approval.

About the Orthocell share price

The Orthocell share price is hovering around 15% below the 50 cents level at which it commenced 2020. Orthocell shares have, however, strongly recovered from their 52-week low of 18 cents seen in March, up 136%.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Orthocell (ASX:OCC) share price is edging higher today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!