Australia's Orthocell leaps on regulatory nod for medical device

Orthocell

21/03/2022 02:05

** Shares of regenerative medicine firm Orthocell Ltd
 OCC.AX  soar as much as 32.1% to A$0.515, their highest since
Dec. 31, 2021 
    ** Co says it has received approval from Australia's
Therapeutic Goods Administration for Remplir, its peripheral
nerve repair device  urn:newsml:reuters.com:*:nASX98Cylw 
    ** Application for inclusion on the Prostheses List planned
for submission in Q2 CY2022
    ** Inclusion would mean private health insurers would be
required to pay benefits for the product 
    ** Stock to mark best session since Jan. 14, if gains hold
    ** Trading volume 30 times the 30-day average, with 4.6 mln
shares changing hands so far on Monday 
    ** Stock has shed 23.5% YTD, as of last close 

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))