Avita Medical Inc Stock Price, News & Analysis

AVITA Medical, operating under ticker RCEL, will present at two upcoming investor conferences: the Cowen 41st Annual Healthcare Conference on March 4, 2021, and the Oppenheimer 31st Annual Healthcare Conference on March 16, 2021. Both presentations will be accessible via live audio webcasts on their investor relations website. AVITA focuses on regenerative medicine with the RECELL® System, designed for treating burns using a patient's own skin cells. The system was FDA-approved in September 2018, addressing significant clinical needs effectively.

AVITA Medical, Inc. (NASDAQ: RCEL) reported a strong second quarter for fiscal year 2021, ending December 31, 2020, with U.S. RECELL® revenue at $5.0 million, up 62% year-over-year. Total global revenue reached $5.1 million, a 57% increase from the previous year. The gross margin improved to 84%, driven by extended shelf-life and lower shipping costs. Operating expenses decreased to $10.4 million. Despite a net loss of $5.6 million, the company held cash reserves of $59.8 million. Due to COVID-19 uncertainties, the company did not provide future financial guidance.

AVITA Medical (NASDAQ: RCEL) announced its participation in the BTIG Virtual MedTech Conference on February 17, 2021, at 1:30 PM PT. The company focuses on regenerative medicine and utilizes its RECELL® System for skin restoration in burn treatment. The RECELL System allows for significant reductions in donor skin usage while enhancing recovery outcomes. Approved by the FDA in September 2018, it has been used in over 10,000 patients globally, showcasing its effectiveness compared to standard care.

For more information, visit www.avitamedical.com.

AVITA Medical, Inc. (NASDAQ: RCEL) plans to release its fiscal second quarter 2021 financial results on February 11, 2021, after market close. A conference call will follow at 1:30 p.m. PT to discuss these results and recent highlights. The company specializes in regenerative medicine, particularly for acute thermal burns, utilizing the RECELL® System, FDA-approved since September 2018. This system enables treatment using a patient's own skin cells, promising better clinical outcomes and cost savings. For further details, visit their website or join the conference call.

AVITA Medical (NASDAQ: RCEL) reported preliminary revenue estimates for Q2 2021, covering the period ending December 31, 2020. U.S. based RECELL® revenue is projected at $5.0 million, unchanged from the prior quarter but up 62% year-over-year. Total global revenue is also estimated at $5.1 million, consistent with the previous quarter and reflecting a 57% increase compared to the same quarter last year. Cash reserves decreased to approximately $59.8 million, down 9% from $65.8 million. The company enrolled 9 additional patients in its pivotal vitiligo study and added 7 new accounts, increasing the total to 93.

AVITA Medical (NASDAQ: RCEL) announced that its management will present at the J.P. Morgan 39th Annual Healthcare Conference on January 14, 2021, at 11:40 a.m. ET. The presentation will be accessible via a live audio webcast. Following the event, a replay will be available for 30 days on their website. AVITA Medical specializes in regenerative medicine, focusing on innovative treatments for burns and chronic wounds using their RECELL® System, which gained FDA approval in 2018. This system utilizes a patient's own skin cells to promote healing effectively.

AVITA Medical, Inc. (NASDAQ: RCEL) announced significant advancements in the effectiveness of its RECELL® System for burn treatment. Since FDA approval in September 2018, over 10,000 patients have been treated globally, with U.S. sales exceeding $27 million. At recent medical conferences, clinical data showcased the RECELL System's benefits, including a reduction of donor skin required for treatment and improved healing outcomes. The company aims to extend the system's use to other medical indications, highlighting its commitment to advancing burn care.

AVITA Therapeutics (NASDAQ: RCEL) announced the appointment of Kathy McGee as Chief Operating Officer, effective December 1, 2020. Kathy brings over 25 years of experience in biopharmaceuticals, recently serving as President of CnA Consulting Group and holding leadership roles in Shire Pharmaceuticals and Advanced BioHealing. Her expertise in regenerative medicine is expected to enhance AVITA's ability to advance its product pipeline. The company's RECELL® System, which facilitates innovative skin restoration, has shown positive outcomes in treating severe burns and is well-positioned in various international markets.

AVITA Therapeutics, with ticker RCEL, announced its participation in the Piper Sandler 32nd Annual Virtual Healthcare Conference on December 1, 2020. The company specializes in regenerative medicine, focusing on autologous skin restoration for conditions like burns and chronic wounds. The RECELL® System, approved by the FDA in September 2018, allows for innovative treatment of burns using a patient’s own skin, significantly reducing donor requirements. AVITA's products are also CE-marked in Europe and TGA-registered in Australia.