PolyNovo Says Cost to Rebuild, Restore Fire Affected R&D Facility Fully Covered by insurance

MT Newswires Live

Feb 12

PolyNovo (ASX:PNV) said the cost to rebuild and restore its research and development (R&D) facility, affected by the fire that occurred on November 2025, back to its previous state, is fully covered by insurance, according to a Thursday filing with the Australian bourse.

The fire affected only a small section of the facility but rendered the significant majority of the R&D equipment as unstable, the filing said.

The company's insurers have provided written notice of indemnity, the filing added.

The book value of the assets written off of AU$4.4 million, and an estimate of insurance proceeds of AU$4.6 million, will be recorded in the financial statements of the fiscal first-half, the company said.

PNV expects the claim to be finalized by June 30, and to rebuild the facility by September.

Shares of the company fell 2% in recent Thursday trade.

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