Shares in AirXpanders, a medtech company with a process to help breast reconstruction surgery, soared today after it reported strong support for its product, AeroForm, in Australia.
The company says strong support from physicians and patients pushed its market share to 10% in the first 90 days since launch. More than 50 surgeons have been trained in the process.
Scott Dodson, CEO of AirXpanders, says the first patients who were implanted are now nearing the final stage of reconstruction, at which point the AeroForm will be exchanged for permanent implants.
AirXpanders is preparing to enter the US market. It will present the data from its US trial at the American Society of Plastic Surgery meeting, the world’s largest plastic surgery conference, later this month.
The company raised $36.5 million in an IPO on the ASX this year. The cash is being used to increase manufacturing capability and ramping up sales and marketing effort.
The AeroForm tissue expander is a less painful, quicker and needle free alternative for breast tissue expansion for mastectomy patients undergoing breast reconstruction.
The company’s share were up 19.7% to $0.85.