Hardman & Co Research : Tissue Regenix (TRX): Strong 1H22 sales suggest upside potential

Hardman & Co Research | Tissue Regenix (TRX)
Strong 1H22 sales suggest upside potential

Tissue Regenix (TRX) is focused on the development and commercialisation of two proprietary processing technologies for the repair of soft tissue (dCELL) and bone (BioRinse). It has a broad portfolio of commercial regenerative medicine products for the biosurgery, orthopaedics and dental markets. Early benefits of TRXs strategic activities over the past two years were evident in the 2021 results and, in a trading update to the market, the company has indicated that the strong sales performance seen in 2H21 has continued into 2022. This fits well with our forecast that TRX will become EBITDA-positive in fiscal 2022 and cash-generative in 2023.

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