Medtech company AirXpanders achieves 20% market share in just six months

Promising new Medtech company AirXpanders has reported a 60% increase in revenues over the quarter from the sale of its AeroForm tissue expanders. This means that within six months of commercial launch, the company has achieved a 20% share of the Australian market. While the Australian market is just 2-3% the size of the US market, we believe this strong adoption bodes very well for the potential uptake of AeroForm in the US. Accordingly, we have increased our forecast peak market share of AeroForm in the US from 30% to 40% . With the significant benefits this device offers to both patients and clinicians, we believe it has the potential to exceed even our revised market share assumption. However, on the basis of our revised projected revenues, we have increased our price target for AXP from $1.35, to $1.90. You can read Canaccord's full research here: (VIEW LINK)