Australia's Polynovo eyes best day in more than 4 months on FDA nod for product

Polynovo

19/09/2022 02:28

** Shares of Polynovo Ltd  PNV.AX  rise as much as 20.7% to
A$1.635, marking their biggest intraday pct jump since May 10
    ** Medical device maker gets U.S. FDA clearance for NovoSorb
MTX, which is used to treat complex wounds such as various kinds
of ulcers  urn:newsml:reuters.com:*:nASX3fS33Q 
    ** Says MTX product portfolio will expand PNV's addressable
market in the United States by an estimated A$500 mln ($336.25
mln) 
    ** Stock hits its highest since Aug. 26; down 11.5% this
year, as of last close  

($1 = 1.4870 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((john.biju@thomsonreuters.com))