{"id":9317,"date":"2024-05-08T02:31:30","date_gmt":"2024-05-08T02:31:30","guid":{"rendered":"https:\/\/economicherald.net\/?p=9317"},"modified":"2024-05-08T02:31:30","modified_gmt":"2024-05-08T02:31:30","slug":"asx-health-stocks-polynovo-notches-record-month-island-pharma-gets-much-needed-funding-for-phase-2a-trial","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=9317","title":{"rendered":"ASX Health Stocks: Polynovo notches record month, Island Pharma gets much needed funding for Phase 2a trial"},"content":{"rendered":"<p>Polynovo achieves record revenue month<br \/>\nIsland Pharma gets grant redirected to its dengue fever study<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Polynovo achieves record revenue month<\/strong><\/h2>\n<p><strong><a href=\"https:\/\/stockhead.com.au\/company\/polynovo-pnv\/\">Polynovo (ASX:PNV)<\/a><\/strong> said it achieved its <strong>first ever $10m+ revenue month<\/strong>, after recording $10.1 million in revenue (unaudited) for the month of April.<\/p>\n<p>Sales in the United States were strong, reaching $6.9 million, which is about 75% more compared to the same time last year.<\/p>\n<p>Sales in other parts of the world, excluding the US, were $2.4 million, showing an increase of 68.2% compared to the same time last year.<\/p>\n<p>There was especially good growth in the United Kingdom\/Ireland, Australia\/New Zealand, Hong Kong, and Germany.<\/p>\n<p>The total revenue for the company in April of $10.1 million was 68.6% more compared to the pcp.<\/p>\n<p>\u201cRest of World sales are very pleasing, coming off a low base,\u201d commented <strong>Polynovo\u2019s Chair, David Williams.<\/strong><\/p>\n<p>\u201cThe direction is clear, and with new geographies and new patient applications I couldn\u2019t be happier.<\/p>\n<p>\u201cIt\u2019s hard to contain my excitement when I see first time orders into Turkey, Abu Dhabi and Ukraine as I think of the lives we are saving.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2>A quick one on what Polynovo does<\/h2>\n<p>PolyNovo makes special medical devices to help heal wounds better.<\/p>\n<p>Its flagship product is the special material called <strong>NovoSorb<\/strong>, which is like a type of plastic that can break down in the body over time.<\/p>\n<p>NovoSorb looks like a scaffold, and helps generate new skin when a person loses a lot of skin from surgery, injury, or burns.<\/p>\n<p>NovoSorb is made of special materials that can disappear in the body, and can be used in different forms like films, fibres, foam, or coatings.<\/p>\n<p>The company say it\u2019s safe for the body because it can break down naturally over time.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Island Pharma gets grant redirected to dengue fever study<\/strong><\/h2>\n<p>Meanwhile, <strong><a href=\"https:\/\/stockhead.com.au\/company\/island-pharmaceuticals-ila\/\">Island Pharmaceuticals (ASX:ILA)<\/a> <\/strong>has <strong>received funding of US$625k (<\/strong>about $962K) for its <strong>ISLA-101 Phase 2a human trial on dengue fever<\/strong>.<\/p>\n<p>These funds will directly support the trial, where it will test how well ISLA-101 works against dengue fever.<\/p>\n<p>As a background, in July 2023, Island announced they received US$1.3m (about $2m) from a US government grant for more lab tests and data analysis for a different study called PEACH.<\/p>\n<p>Even though this extra analysis was deemed scientifically useful, the company believes it was not essential enough to carry out at this point in time, and those funds were not being prioritised to Island\u2019s direct clinical trial costs.<\/p>\n<p>So, Island has just agreed with the <em>US Department of Defense (DoD)<\/em> and the <em>Research Foundation for the State University of New York (SUNY)<\/em> to use part of that grant money, US$625k, to cover the costs of the current dengue fever trial.<\/p>\n<p>This will provide a significant reduction to Island\u2019s overall costs for the ISLA-101 Phase 2a trial.<\/p>\n<p>\u201cWe are most appreciative of this meaningful source of new, non-dilutive funding which sees Island\u2019s own capital requirements for the study reduce markedly,\u201d said <strong>Island\u2019s CEO, Dr David Foster.<\/strong><\/p>\n<p>\u201cAs cases of dengue fever continue to spike around the globe, finding both preventatives and treatments are paramount.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2>Share prices today:<\/h2>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\"><\/span>\u00a0<br \/>\n<span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/health\/asx-health-stocks-polynovo-notches-record-month-island-pharma-gets-much-needed-funding-for-phase-2a-trial\/\">ASX Health Stocks: Polynovo notches record month, Island Pharma gets much needed funding for Phase 2a trial<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Polynovo achieves record revenue month Island Pharma gets grant redirected to its dengue fever study \u00a0 Polynovo achieves record revenue month Polynovo (ASX:PNV) said it <a href=\"https:\/\/economicherald.net\/?p=9317\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":9318,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX Health Stocks: Polynovo notches record month, Island Pharma gets much needed funding for Phase 2a trial - Economic Herald<\/title>\n<meta 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