EBR Systems (ASX:EBR)<\/a> from $2.86 to $2.95 after the company announced it expects Q4 CY25 revenue of US$870,000 toUS$935,000, exceeding Morgans\u2019 forecast of US$570,000.<\/p>\nEBR is also targeting FY25 revenue of US$1.55 to $1.62million, above Morgans\u2019 forecast of US$1.1 million, as adoption of its wireless cardiac pacing technology WiSE continues to build.<\/p>\n
The WiSE system was implanted in 18 patients, doubling quarter on quarter, with 30 implants to date during the combined pilot phase and limited market release following FDA approval in April 2025.<\/p>\n
The company inked nine additional purchase agreements in Q4 with 11 additional physicians now trained to support the adoption of WiSE (33 total).<\/p>\n
CEO and president John McCutcheon presented at the J.P. Morgan Healthcare Conference this week.<\/p>\n
McCutcheon provided an overview of the company\u2019s commercial progress, clinical programs and strategic priorities, including recent developments supporting the broader adoption of WiSE.<\/p>\n
\u201cWith a sound commercial strategy, along with incentivised reimbursement lowering adoption barriers, we view EBR as well placed to build a profitable medical device business in the cardiac resynchronisation therapy (CRT) space,\u201d Morgans\u2019 analyst Derek Jellinek wrote in a note to clients.<\/p>\n
Morgans maintains a buy rating on EBR.<\/p>\n
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Avita secures new debt facility<\/p>\n
Wound care house Avita Medical released a business update ahead of presenting at the J.P Morgan Healthcare Conference, including a new US$60m debt facility, with US$50m drawn upfront, improving liquidity and resetting covenants to more achievable levels<\/p>\n
Morgans\u2019 analyst Iain Wilkie said this partially addresses the primary short-term risk the broker highlighted in its most recent note, with, at that time, a cash runway of less than quarters covenant pressure and a likely imminent and dilutive equity raise.<\/p>\n
He said the key will be AVH\u2019s Q 4FY25 report due on February 13 for an update on key financial metrics, including cash burn levels and balance.<\/p>\n
The new facility retires the US$40m OrbiMed facility, so the pressure is only lifted slightly by US$10m in the immediate term, with the final US$10m being available from Q127.<\/p>\n
\u201c[This] gives AVH a little more breathing room (by about one quarter based on recent cash burn rates) but more importantly \u2013 reduces covenant pressures,\u201d Wilkie wrote.<\/p>\n
Avita also provided updated FY25 revenue guidance of US$71.6m and FY26 guidance of US$80-85m, in line with Morgans\u2019 numbers.<\/p>\n
\u201cThis update reinforces our views around AVH as an attractive clinical proposition with genuine long term upside, but requires better execution, more consistent revenue delivery, and a stronger balance sheet than the company has demonstrated in recent years,\u201d Wilkie noted.<\/p>\n
\u201cWe see this update as a positive albeit small step, reducing near term financial stress and improving guidance credibility, but not as a turning point.\u201d<\/p>\n
Morgans has a speculative buy on Avita and 12-month target price of $1.35.<\/p>\n
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Power\u2019s Powerplay: Tetratherix completes second trial safety review<\/p>\n
Tetratherix has successfully completed the second safety review of its second cohort for the TetraDerm clinical, confirming zero adverse events and a strong safety profile.<\/p>\n
Nine patients in the second cohort completed six-week follow-ups, allowing the trial to progress to the third and final cohort in Q1 CY26.<\/p>\n
The company said the majority of the third cohort will be represented by the fast-growing segment of the plastic and reconstructive surgical market, including patients undergoing body contouring procedures resulting from weight loss following the recent rapid uptake of obesity treatments.<\/p>\n
Power said key priorities for H2 FY26 include:<\/p>\n
Advancing TUTELA trial for its Tutelix tissue spacing product in Cohort 2 for prostate cancer treatment towards pivotal US FDA trial for potential 510(k) approval
\nContinue Tegenix\/Tegen EOS FDA animal studies for bone regeneration with FDA submissions on track, then approval in mid-year
\nOptimising Optelex formulation and performance validation for tissue spacing during eye surgery
\nSupporting BioOptix joint venture capital raising and strategic partnerships
\nCompleting fit-out and relocation to the new manufacturing facility<\/p>\n
\u201cTetratherix continues to hit key milestones across its three verticals \u2013 bone regeneration, tissue spacing and tissue healing,\u201d Power said.<\/p>\n
\u201cSo far milestones have been met on time which the market will appreciate.<\/p>\n
\u201cWe look forward to the FDA submission for the bone regeneration products Tegenix and TegenEOS as being important milestones which are expected shortly and approval in 2026.\u201d<\/p>\n
Morgans has a speculative buy on Tetratherix and a 12-month target price of $5.76.<\/p>\n
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Morgans Corporate Limited was a joint lead manager to the placement of shares and entitlement offer in EBR Systems in September 2024 and received fees in this regard.<\/p>\n
\u00a0It was a lead manager to the placement of shares for Imricor Medical Systems in March 2025 and may have received fees in this regard. <\/p>\n
\u00a0The company was also a lead manager to the IPO for Tetratherix in May 2025 and has received fees in this regard.<\/p>\n
Scott Power owns shares in Imricor , EBR Systems, Neuren\u00a0 Pharmaceuticals and Tetratherix. Iain Wilkie owns shares in Neuren Pharmaceuticals.<\/p>\n
At Stockhead we tell it like it is. At the time of writing, EBR Systems is a Stockhead advertiser but did not sponsor this article.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"The ASX is starting 2026 with renewed strength. Pic: Getty Images ASX health sector up 0.96% for the…\n","protected":false},"author":2,"featured_media":424150,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[64,63,137,500],"class_list":["post-424149","post","type-post","status-publish","format-standard","has-post-thumbnail","category-healthcare","tag-au","tag-australia","tag-health","tag-healthcare"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/424149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=424149"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/424149\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/424150"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=424149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=424149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=424149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}