Allegra shares are up 15 per cent after kangaroo and bone news

Joey ... Allegra Orthopaedics seems to have piqued the interest of investors. Picture: Getty

Stockhead has been keeping an eye on one of the ASX’s more colourful biotechs lately, and it seems investors have as well.

Shares in Allegra Orthopaedics (ASX:AMT) were up 15 per cent at noon Tuesday, despite no new announcements.

The company’s last two announcements however were the stuff of sci-fi movies.

First, Allegra revealed it had struck a deal with a company called Bone Ligament Tendon to research the idea of using kangaroo tendons in human reconstructive surgery.

Then on Friday it announced the first manufacturing run of its Sr-HT-Gahnite Bone Substitute Project — casually called the “bone project” — which essentially means it will be able to 3D print bones.

Allegra has a market cap of just under $11 million, and is trading at 15c — though that’s still a way off the 12-month high of 37c it reached in March.