How Is OncoSil Medical Driving Record Growth and Expanding Across Europe?

Strong Financial Momentum

OncoSil Medical Ltd (ASX – OSL) has kicked off FY26 with a striking financial performance, reporting record quarterly cash receipts of $0.64 million for Q1, a staggering 917% increase compared to the same period last year. This surge reflects growing commercial traction driven by both direct hospital sales and distributor partnerships, with Q1 receipts already accounting for 84% of the entire FY25 cash intake. The company’s CEO, Nigel Lange, highlighted this as a pivotal moment underscoring confidence in OncoSil’s technology and expanding global adoption.

Clinical Advances Bolster Market Confidence

Complementing its commercial success, OncoSil announced encouraging preliminary results from the PANCOSIL Phase 1-2 Investigator-Initiated Study presented at the CIRSE 2025 Congress. The study, involving 20 patients with unresectable locally advanced pancreatic cancer (LAPC), demonstrated the safety and feasibility of CT-guided percutaneous administration of the OncoSil™ device. Notably, the procedure achieved a 90% technical success rate with minimal serious adverse events and showed promising early efficacy signals, including a median overall survival of 20.6 months; well above historical averages.

European Expansion Milestones

Shortly after the quarter’s end, OncoSil marked significant geographic progress with its first commercial treatments in Portugal and Germany. The initial procedure in Portugal’s leading oncology centre, IPO Porto, was followed by a treatment at Germany’s Universitätsklinikum Augsburg, a major university hospital. These launches represent critical steps into two important European markets, with Germany being the continent’s largest healthcare economy. The company is actively working with clinicians and health institutions to drive adoption and reimbursement, with five German hospitals already securing reimbursement agreements.

Leadership and Operational Updates

OncoSil strengthened its board by appointing Dr Thomas Duthy as Non-Executive Chairman, bringing extensive healthcare and corporate development experience, including involvement in Australia’s largest medical device acquisition. Meanwhile, the company is advancing its manufacturing capabilities with a second facility in Sydney expected to enhance production capacity and margins. Regulatory progress continues, with Australian TGA approval anticipated soon and plans to expand the OncoSil™ label to include FOLFIRINOX chemotherapy, facilitating easier integration into existing treatment regimens.

Challenges and Outlook

Despite these positives, OncoSil acknowledged delays in achieving operating cash flow breakeven, now expected later than initially forecast. The slower uptake in Germany is attributed to regulatory trial design disagreements and tendering delays for clinical research organisations. Nonetheless, the company remains confident in its long-term commercialisation strategy, supported by steady growth in Spain and Italy and ongoing regulatory submissions. Key upcoming milestones include the TRIPP-FFX Phase II study results and the commencement of a Phase III trial in Germany, both anticipated in the second half of FY26.