Australia's Polynovo tops ASX 200, eyes growth in US outpatient market

Polynovo

02/09/2025 02:23

** Shares of medical technology co Polynovo PNV.AX rise as much as 26.6% to A$1.665, their highest point since May 14

** Stock is top gainer in ASX 200 benchmark index .AXJO

** Polynovo says outpatient wound care, for which the U.S. has proposed changes in medicare reimbursement policies, is a "significant potential growth area" for its products

** Says it is currently assessing commercial model for accessing the outpatient opportunity

** U.S. Centers for Medicare & Medicaid Services' proposed plan for flat reimbursement for outpatient skin substitutes of $806 per square inch CMS is currently under consultation

** Stock has lost 28.7%, YTD

 (Reporting by Himanshi Akhand in Bengaluru)

 ((Himanshi.Akhand@thomsonreuters.com;))