Welcome to our dedicated page for Avita Medical news (Ticker: RCEL), a resource for investors and traders seeking the latest updates and insights on Avita Medical stock.
AVITA Medical reports developments in therapeutic acute wound care, led by the RECELL platform for Spray-On Skin used in burn and trauma wounds. Company news commonly covers FDA-cleared wound-care indications, RECELL GO automation, international regulatory clearances, and the U.S. commercial portfolio that includes Cohealyx, a collagen-based dermal matrix, and PermeaDerm, a biosynthetic wound matrix.
Updates also include clinical data presentations, BARDA emergency-preparedness agreements, quarterly financial results, investor-conference participation, and board or executive governance changes. The recurring news themes connect AVITA Medical's product platform with acute burn care, trauma wound treatment, commercialization, reimbursement, and capital resources.
AVITA Medical (Nasdaq: RCEL) announces the appointment of James Corbett and Jan Stern Reed to its Board of Directors, effective July 1, 2021. Corbett brings 40 years of experience in medical devices, having served as CEO of various companies, while Reed has over 35 years of legal and management experience, notably with Walgreens Boots Alliance. Their expertise is expected to strengthen AVITA’s leadership in medical device commercialization and corporate governance as the company focuses on expanding its market share in skin restoration treatments.
AVITA Medical (NASDAQ: RCEL) reported strong financial results for Q3 FY2021, with RECELL® revenue reaching $8.8 million, up 126% year-over-year. Procedural volumes rose to 492 from 408 in Q3 2020, with 99 burn center accounts now in use. The company trained 244 burn surgeons, achieving an 81% penetration rate. Despite a net loss of $6.0 million, down from $15.0 million last year, and operating expenses decreasing to $13.2 million, gross margin fell to 76% due to lower pricing from BARDA contracts. The company expects Q4 revenue between $8.2-$8.6 million.
AVITA Medical (NASDAQ: RCEL) announced plans to release its fiscal Q3 2021 financial results on May 13, 2021, post market close. A conference call and webcast will follow at 1:30 PM PT to discuss these results alongside recent company highlights. AVITA specializes in regenerative medicine, utilizing its patented RECELL System for autologous skin restoration in treating burns and chronic wounds. The system has shown clinical advancements and is FDA approved, enhancing treatment efficacy and reducing donor skin requirements.
AVITA Medical announced the acceptance of nine abstracts at the 43rd Annual John A. Boswick Burn & Wound Care Symposium, highlighting the clinical and cost-effectiveness of the RECELL System in treating burns. The symposium will take place from April 17-22, 2021, in Maui, Hawaii. CEO Dr. Mike Perry emphasized the system's versatility in treating varying burn depths and its benefits when combined with other surgical technologies. Data from randomized clinical trials and real-world use support the RECELL System as a significant advancement in burn treatment.
AVITA Medical (NASDAQ: RCEL) announced the acceptance of 15 abstracts showcasing the benefits of its RECELL System at the American Burn Association's upcoming annual meeting. This marks the highest number of presentations since the RECELL's FDA approval in 2018. Over 80% of U.S. burn surgeons are now certified in using the system, which demonstrates a growing adoption in treating diverse burn injuries. The findings emphasize both clinical outcomes and cost-effectiveness, supporting the RECELL System as a significant advancement in burn care.
AVITA Medical (Nasdaq: RCEL) has appointed Michael Holder as Chief Financial Officer effective March 22, 2021. Mr. Holder brings over 25 years of finance experience, previously serving as CFO at ImmuneCyte and CEO at Carolina Longevity Institute. His role will encompass global finance, accounting, M&A, and investor relations. CEO Dr. Mike Perry emphasized Holder's experience will enhance the leadership team. AVITA Medical focuses on regenerative medicine addressing burns and chronic wounds through its RECELL® System, FDA-approved since September 2018.
AVITA Medical, Inc. (Nasdaq: RCEL) has successfully completed an underwritten public offering, issuing 3,214,250 shares at US$21.50 each, totaling approximately US$69.1 million in gross proceeds. This includes shares from the underwriters' full exercise of their option to purchase additional stock. The funds will support product development and regulatory approvals. The offering was made under a previously filed shelf registration statement with the SEC. AVITA Medical is focused on regenerative medicine technologies, particularly the RECELL System for skin restoration.
AVITA Medical announced a registered public offering of 2,795,000 shares at a price of US$21.50 per share, potentially raising gross proceeds of approximately US$60.1 million. The underwriters have a 30-day option to purchase an additional 419,250 shares. The funds will be utilized for product development, seeking approvals for additional indications, and general corporate purposes. The offering is expected to close on March 1, 2021, subject to customary conditions.
AVITA Medical has announced an underwritten public offering of its common stock, with a possibility for underwriters to purchase an additional 15% of shares sold. The offering is subject to market conditions and aims to fund product development, seek additional approvals, and cover general corporate purposes. The company has previously filed a registration statement with the SEC, and joint book-running managers for the offering include Piper Sandler & Co. and Cowen and Company. AVITA Medical is known for its RECELL System, which provides innovative skin restoration treatments.
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.