Sanara rises after first sale of bone graft product
10/10/2023 18:29
** Shares of Sanara MedTech SMTI.O rise ~5.85% to $31.13
** Co says it completed the first sale of its graft product
for new bone formation after facing supply constraints
** SMTI's Allocyte Plus was marred by supplier limits on
qualifying eligible donor tissue and supplier necessity to
subcontract all processing to secondary suppliers
** Co says the product is now processed by an alternative
supplier with in-house processing capabilities, affording
greater control of product supply
** Adds, the commercial launch for co's wound cleaner
Biasurge is scheduled for November 2023
** Including session moves, shares down ~31.6% YTD
(Reporting by Christy Santhosh)
((Christy.Santhosh@thomsonreuters.com))