Hardman & Co Research on Tissue Regenix (TRX): Operating leverage

Hardman & Co Research on Tissue Regenix (TRX): Operating leverage

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 regenerative medicine products for the biosurgery, orthopaedics and dental markets. 1H’22 results provided further evidence of the benefits of TRX’s strategic activities over the past two years, with the combination of sales growth and operating efficiencies driving the company rapidly towards EBITDA- and cashflow-breakeven. Additional efficiencies identified in San Antonio’s capacity expansion give greater flexibility to the start of Phase 2.

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