Australia's Polynovo gains most in over 1-1/2 years on strong U.S. sales

Polynovo

14/12/2021 03:26

** Shares of medical devices firm  PNV.AX  soar as much as
16.5% to A$1.585, on track for biggest single-day pct jump since
April 2020
    ** Co says U.S. sales had a strong start in Q2 as Oct and
Nov recorded a 133% y-o-y increase to A$4.66 mln ($3.31 mln),
almost equalling the record month of sales in July  urn:newsml:reuters.com:*:nASX3xT8tf
    ** Adds that PNV is being approached by large corporations
looking to represent it in new jurisdictions, and one or more of
these relationships will materialise in FY22
    ** Shares hit highest since Nov 10
    ** More than 5 mln shares change hands vs 30-day average
volume of ~3.2 mln shares 
    ** Stock is third-biggest percentage gainer on the ASX All
Ordinaries Index  .AORD 
    ** Stock has fallen 65% this year, as of last close,
compared with a 12.3% increase in the ASX All Ordinaries Index
 .AORD  


($1 = 1.4075 Australian dollars)

 (Reporting by Roushni Nair in Bangalore)
 ((Roushni.Nair@thomsonreuters.com))