Tissue Regenix Group (TRX); expects revenue to increase 12% to £13m for FY 2019

Published on 22-01-2020 08:33:35
Author Sparks Team

Tissue Regenix Group announced its trading update for the year ended 31 December 2019. The company had a cash position of £2.4m as of 31 December 2019. During the period, the company increased the throughput of five clean rooms in San Antonio through the commencement of a second shift during H2 2019. The average number of orthopaedic donors processed monthly at the San Antonio facility more than doubled from Q1 to Q4.

The GBM-V division witnessed continued growth of its corneal business and has become financially self-sufficient. The board believes that the available cash runway will continue to support the working capital requirements of the company until end-April 2020.

John Samuel, Tissue Regenix Group’s Executive Chairman, commented: “Through both organic growth and collaboration with strategic partners, we remain confident in our ability to reach profitability, once our new facility becomes available.”

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