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Polynovo ( (AU:PNV) ) just unveiled an announcement.
PolyNovo announced positive results from a ‘first in human’ study using its NovoSorb BTM technology for cell therapies in treating Type 1 diabetes. The study, presented by Professor Toby Coates, demonstrated the survival and function of human pancreatic islets transplanted into a new site within the skin, offering a promising alternative to the current standard of care. This breakthrough suggests significant potential for NovoSorb in the cell therapy market, potentially creating a new business segment for PolyNovo. The company is in discussions to accelerate research and development in this space, which is projected to reach USD $34 billion by 2034.
The most recent analyst rating on (AU:PNV) stock is a Buy with a A$2.50 price target. To see the full list of analyst forecasts on Polynovo stock, see the AU:PNV Stock Forecast page.
More about Polynovo
PolyNovo is a disruptive medical technology company based in Melbourne, Australia, specializing in the management of acute complex wounds. The company is known for its innovative products that improve healing outcomes across various wound types and has treated over 70,000 patients in 46 countries. PolyNovo is focused on growth through new products, indications, and market expansion.
Average Trading Volume: 3,086,934
Technical Sentiment Signal: Sell
Current Market Cap: A$1.01B
For a thorough assessment of PNV stock, go to TipRanks’ Stock Analysis page.