Orthocell Limited Trading Halt: Awaiting Regulatory Approval for Striate in Canada
OCC (OCC) Share Update July 2024 Wednesday 10th
Orthocell Limited Requests Trading Halt Pending Major Announcement
Orthocell Limited (ASX: OCC), a regenerative medicine company, has requested a trading halt on its securities as it awaits a significant regulatory approval announcement for its Striate product in Canada.
Instant Summary:
- Orthocell Limited requests trading halt pending regulatory approval.
- Trading halt to last until the announcement or the start of trading on 12 July 2024.
- Striate product awaiting regulatory approval in Canada.
Trading Halt Details
On 10 July 2024, Orthocell Limited (ASX: OCC) requested that its securities be placed in a trading halt. This request was made to the Australian Securities Exchange (ASX) in anticipation of an important announcement regarding regulatory approval for its Striate product in Canada.
The trading halt is expected to remain in place until the earlier of the company making the announcement or the commencement of normal trading on Friday, 12 July 2024. This decision was made to ensure that all investors have equal access to the forthcoming information.
Reason for the Trading Halt
Orthocell has stated that the trading halt is necessary pending an announcement related to the receipt of regulatory approval for its Striate product in Canada. Striate is part of Orthocell's CelGro™ platform, which focuses on tissue reconstruction and healing in dental and orthopedic applications.
The company emphasized that it is not aware of any reason why the trading halt should not be granted and that no additional information is required to inform the market about the trading halt.
About Orthocell Limited
Orthocell Limited is a regenerative medicine company dedicated to developing products that aid in the repair of bone and soft tissue injuries. Their portfolio includes the CelGro™ platform of collagen medical devices, which are used in various dental and orthopedic reconstructive applications.
Striate+™ was the first product approved for dental guided bone regeneration (GBR) applications and is cleared for use in the US, Australia, and Europe. It is distributed globally by BioHorizons Implant Systems Inc. Orthocell is also working on other products like Remplir™ for peripheral nerve reconstruction and SmrtGraft™ for tendon repair.
The trading halt indicates that Orthocell is on the verge of receiving significant regulatory approval, which could have a positive impact on its stock price. Approval for Striate in Canada could open new market opportunities and drive revenue growth for the company. However, the uncertainty during the trading halt period may create some volatility in the stock.
Investor Reaction:
Investors and analysts are closely watching Orthocell's next move. The anticipation of regulatory approval has generated optimism, but the trading halt has also introduced a degree of uncertainty. Some investors may be cautious until the official announcement is made.
Conclusion:
Investors should stay tuned for Orthocell's upcoming announcement regarding the regulatory approval for Striate in Canada. This development could significantly impact the company's market position and stock performance. Monitoring the situation closely will be crucial for making informed investment decisions.