OncoSil Medical revenue climbs 45.8% following approval
Key points
- OncoSil Medical's quarterly revenue climbed 45.8% year-on-year following key clinical milestone achievements and international expansion.
- The medical device company closed the quarter with $8.7 million in cash and cash equivalents.
- Commercial growth is being driven by U.S. market access pathways and institutional capital support.
OncoSil Medical (ASX:OSL) reported a 45.8% year-on-year increase in first-quarter sales revenue following approval from the U.S. Food and Drug Administration for its medical device.
The quarterly revenue growth was recorded alongside expanded treatment availability in European markets and institutional capital raising activity.
“With a clear pathway towards our planned U.S. commercial launch, progress towards establishing Australian manufacturing capability and growing adoption in established markets such as Spain, we are increasingly focused on translating our regulatory and clinical achievements into sustainable commercial growth,” said OncoSil Medical CEO & Managing Director Nigel Lange.
The company secured $5.6 million from its three largest institutional shareholders and reached its 100th patient treatment in Spain across 11 active sites.
The business continues to execute its commercial deployment across Australian and global healthcare markets.
Following the announcement, the OncoSil Medical share price was down at $0.69.
OncoSil Medical is a medical device firm focused on developing localised treatments for patients with unresectable locally advanced pancreatic cancer and distal cholangiocarcinoma.
-640x359.webp&w=3840&q=75)
