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, Inc. (NASDAQ: RCEL, ASX: AVH) is a commercial-stage regenerative medicine company that is pioneering innovative solutions for skin restoration and wound care management. The company's flagship product, the RECELL® System, is a revolutionary device that transforms a small sample of a patient's skin into Spray-On Skin™ Cells within just 30 minutes. This technology aims to reduce or eliminate the need for skin grafts, providing an advanced treatment option for burns, full-thickness skin defects, and stable depigmented vitiligo lesions.
The RECELL System has gained regulatory approvals across several regions, including the U.S. Food and Drug Administration (FDA), Australia's Therapeutic Goods Administration (TGA), the European Union's CE-mark, and Japan's PMDA. However, AVITA Medical primarily focuses its marketing efforts in the United States, which hosts approximately 136 burn centers where the RECELL System is being rolled out.
The company has made significant strides recently, including the approval and launch of RECELL GO in the U.S., which boasts enhanced features to streamline the preparation of Spray-On Skin™ Cells, improving workflow efficiency and reducing the training burden on medical staff. This next-generation device is expected to further drive adoption and improve clinical outcomes.
AVITA Medical also holds exclusive rights to market and distribute PermeaDerm®, a biosynthetic wound matrix, in the United States, expanding its product portfolio beyond RECELL.
Financially, AVITA Medical has shown robust growth, with commercial revenue increasing significantly year-over-year. For the fourth quarter of 2023, commercial revenue surged by 50% compared to the same period in 2022. Despite a net loss due to increased operating expenses related to expanding its commercial and R&D efforts, the company remains optimistic about its financial stability and future growth.
The company continues to make strategic international inroads, including plans to launch in Japan through a distribution partner and future market expansions. In addition, AVITA Medical is engaged in various ongoing clinical trials to expand the indications and applications of the RECELL System further.
Overall, AVITA Medical remains at the forefront of transforming wound care management and skin restoration, committed to improving patient outcomes through its innovative products and strategic initiatives.
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.
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.
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