PolyNovo’s NovoSorb MTX Sales Soar 195% in 1H FY26
PolyNovo reports a robust 26% increase in group sales for 1H FY26, driven by strong U.S. market expansion and a near tripling of NovoSorb MTX sales. The company also completes a new manufacturing facility, positioning itself for sustained growth.
- Group sales rise 26% to A$68.2 million in 1H FY26
- NovoSorb MTX sales jump 195% year-on-year
- U.S. sales grow 25%, with strong global market performances
- Positive cash flow from operations of A$9.5 million
- New manufacturing facility completed on time and budget
Strong Sales Momentum
PolyNovo Limited has delivered an impressive unaudited trading update for the first half of fiscal year 2026, reporting group sales of A$68.2 million, a 26% increase compared to the same period last year. This growth was largely propelled by a remarkable 195% surge in sales of its advanced wound care product, NovoSorb MTX, which reached A$6.2 million, up from A$2.1 million in 1H FY25.
The U.S. market remains the company’s powerhouse, contributing A$51.7 million in sales, up 25.3% year-on-year. Meanwhile, the rest of the world segment also showed strong growth, with sales rising 28.3% to A$16.5 million, buoyed by robust demand in Australia, Canada, Germany, Ireland, and Turkey.
Operational and Financial Highlights
PolyNovo’s cash flow story is equally encouraging. The company reported a positive cash flow from operations of A$9.5 million for the half, a significant turnaround from the A$12.5 million outflow in the prior corresponding period. Cash and cash equivalents stood at A$29.3 million as of 31 December 2025, supported by strong collections and disciplined cash management.
Notably, the construction of PolyNovo’s new manufacturing facility has been completed on time and within budget, with only A$2.2 million in capital expenditure remaining to be paid in the second half of FY26. This new facility is expected to provide the company with increased production capacity to support future growth ambitions.
Regulatory Progress and Market Expansion
On the regulatory front, PolyNovo is advancing its pivotal clinical trial submission for full-thickness burns to the U.S. Food and Drug Administration, with documentation being finalised. The company has also submitted a comprehensive clinical evidence package to the Centers for Medicare and Medicaid Services (CMS) to secure Medicare coverage for its NovoSorb BTM product, and is preparing a request for a new billing code for NovoSorb MTX.
These regulatory efforts coincide with a strategic response to recent CMS policy changes affecting the outpatient and non-facility settings in the U.S. market. PolyNovo’s leadership is actively adapting its go-to-market approach to capitalise on these shifts, aiming to deliver cost-effective and clinically effective wound care solutions.
Leadership and Outlook
Since joining as CEO in December 2025, Bruce Peatey has been focused on deepening commercial insights and strengthening the U.S. sales team. Chairman Leon Hoare highlighted the company’s strong first half performance and the strategic importance of the new manufacturing facility, which he described as a “terrific achievement” that sets the stage for sustained growth.
PolyNovo also announced the appointment of Amy Demediuk as General Counsel and Company Secretary, further bolstering its leadership team. The company remains optimistic about maintaining momentum through the second half of FY26, supported by expanding product adoption and geographic reach.
Bottom Line?
PolyNovo’s strong half-year results and operational advances set a promising stage, but regulatory approvals and market adaptation will be key to sustaining growth.
Questions in the middle?
- How will CMS’s response to the Medicare coverage submissions impact PolyNovo’s U.S. market penetration?
- What is the expected timeline for FDA approval of the full-thickness burns indication?
- How will the new manufacturing facility influence production costs and scalability?
