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AVITA Medical Announces Preliminary Unaudited Results for the Quarter ended December 31, 2021
VALENCIA, Calif. and MELBOURNE, Australia., Jan. 10, 2022 (GLOBE NEWSWIRE) -- AVITA Medical, Inc. (NASDAQ: RCEL, ASX:AVH) (the “Company”), a regenerative
About this update from Avita Medical, Inc.
[{"type":"text","content":"VALENCIA, Calif. and MELBOURNE, Australia., Jan. 10, 2022 (GLOBE NEWSWIRE) -- AVITA Medical, Inc. (NASDAQ: RCEL, ASX:AVH) (the “Company”), a regenerative medicine company that is developing and commercializing a technology platform that enables point-of-care autologous skin restoration for multiple unmet needs, today announced preliminary unaudited estimates of its top line results for the three months ended December 31, 2021. Preliminary Results for the Quarter ended December 31 and Recent Updates: Total revenue increased 35% to $6.9 million in the quarter ended December 31, 2021, compared to $5.1 million over the same quarter in the prior yearAs of December 31, 2021, the Company had approximately $55.5 million in cash and cash equivalents and $49.3 million in short-term and long-term marketable securities, and no debtEffective December 2021, the Company changed its fiscal year-end to December 31Completed enrollment in two clinical trials with the goal of submitting premarket approval (PMA) supplements in 2022 In December 2021, completed enrollment of pivotal clinical trial evaluating the safety and effectiveness of the RECELL® System for the repigmentation of stable vitiligo lesionsIn January 2022, completed enrollment of pivotal study of RECELL System for soft tissue reconstruction (trauma) Successfully established proof of concept with preclinical data in two key areas of cell-based gene therapy – skin rejuvenation and epidermolysis bullosa. “Our recent successes in getting two pivotal clinical trials fully enrolled, and also demonstrating proof of concept in two other potential indications, underscore our commitment to further growing the market opportunities for the RECELL system,” said Dr. Mike Perry, AVITA Medical Chief Executive Officer. “Looking ahead, we will be preparing our vitiligo and soft tissue dossiers to submit PMA supplement applications to the FDA in late 2022 for commercial launches for those indications in 2023.” Authorized for release by the Chief Financial Officer of AVITA Medical, Inc. ABOUT AVITA Medical, Inc.AVITA Medical, Inc. is a regenerative medicine company with a technology platform positioned to address unmet medical needs in burns, chronic wounds, and aesthetics indications. AVITA Medical Inc. patented and proprietary collection and application technology provides innovative treatment solution...