Avita Medical Inc Stock Price, News & Analysis

AVITA Medical (NASDAQ: RCEL) has announced it will release its Q1 2022 financial results on May 12, 2022, followed by a conference call at 1:30 p.m. PT. The company focuses on regenerative medicine, developing technology for autologous skin restoration to address unmet medical needs. Its RECELL® System, FDA-approved in 2018, uses a patient's skin cells for treating acute burns, showing significant advancements in clinical outcomes and cost efficiency. The live call will be accessible via telephone and the company's website.

AVITA Medical (NASDAQ: RCEL) announced the resignation of Louis Drapeau from the Board of Directors, effective April 29, 2022, citing personal reasons. Drapeau has been a non-executive Director since January 2016 and previously chaired the Audit Committee, which has now been taken over by James Corbett as of February 23, 2022. The company expressed gratitude for Drapeau's six years of service. AVITA develops regenerative medicine technologies, particularly the RECELL® System for skin restoration, approved by the FDA in September 2018.

AVITA Medical (NASDAQ: RCEL) announced 15 presentations at the American Burn Association Annual Meeting, showcasing the efficacy and cost-saving benefits of the RECELL® System for treating burn wounds. The event, taking place April 5-8 in Las Vegas, is expected to attract over 2,000 burn care professionals. With real-world application data from over 15,000 patients, the RECELL System has proven advantageous over traditional methods. AVITA aims to expand RECELL's indications beyond burns to include soft-tissue repair and vitiligo, pending FDA approval.

AVITA Medical (NASDAQ: RCEL) announced the presentation of a clinical trial protocol for the RECELL^® System at the Global Vitiligo Foundation Annual Scientific Symposium. This trial aims to assess the safety and effectiveness of RECELL in treating stable vitiligo lesions. With enrollment now complete, the company anticipates releasing results from its blinded, randomized study soon. Vitiligo affects 2% of the global population, significantly impacting patients' quality of life. The RECELL System, approved by the FDA in 2018, utilizes patients' skin cells for regenerative treatments.

AVITA Medical announced that the Biomedical Advanced Research and Development Authority (BARDA) has modified its contract to fund the ongoing pivotal clinical trial for the RECELL System aimed at soft tissue reconstruction.

The trial compares conventional autografting with RECELL in treating acute non-burn full-thickness skin defects, targeting fewer donor skin needs without compromising healing. BARDA’s support highlights the potential of RECELL in expanding treatment indications beyond burns, acknowledging its significance for patients suffering trauma.

AVITA Medical announced a group purchasing agreement with Premier, Inc. that facilitates the access of approximately 4,440 U.S. hospitals to its RECELL System for treating severe burns. This agreement allows Premier members to utilize special pricing and terms, ensuring timely patient treatment. The RECELL System allows healthcare providers to produce a suspension of Spray-On Skin™ Cells from a small skin sample for effective burn treatment. CEO Dr. Mike Perry highlighted the importance of this agreement for improving patient care.

AVITA Medical (NASDAQ: RCEL) reported strong financial results for the quarter ending December 31, 2021, with revenue increasing by 37% to $14.0 million. The fourth quarter saw a revenue growth of 35% to $6.9 million compared to the prior year. The company achieved significant milestones including FDA approval of the enhanced RECELL® system and completed enrollment for pivotal clinical trials aimed at soft tissue reconstruction and vitiligo. However, net losses widened by 52% to $8.5 million. Moving forward, AVITA projects a revenue of approximately $30 million in 2022, marking a 20% increase year-over-year.

AVITA Medical, Inc. (NASDAQ: RCEL) has received approval from Japan's Pharmaceuticals and Medical Devices Agency to market its RECELL® System for treating burns. This system significantly reduces the need for donor skin by preparing Spray-On Skin™ Cells from a small amount of the patient’s skin. With Japan being the second-largest healthcare market globally, this approval opens up opportunities for treating over 6,000 severe burn patients annually. COSMOTEC, part of M3 Group, is the distribution partner tasked with making the treatment widely available in Japanese medical institutions.

AVITA Medical, a regenerative medicine company, announced Dr. Mike Perry's presentation at the Cowen 42nd Annual Health Care Conference on March 8, 2022. The event will be accessible through the company website. AVITA specializes in technology for autologous skin restoration, addressing needs in burns and chronic wounds. Its RECELL System, FDA-approved since September 2018, utilizes a patient's skin cells to treat burns, minimizing donor skin requirements. It has shown to significantly improve clinical outcomes and cost savings, with over 10,000 patients treated worldwide.