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AVITA Therapeutics Provides Company Update and Revised Corporate Presentation
VALENCIA, Calif. & MELBOURNE, Australia--(BUSINESS WIRE)-- AVITA Therapeutics, Inc. (NASDAQ: RCEL, ASX: AVH), a regenerative medicine company that is
About this update from Avita Medical, Inc.
[{"type":"text","content":" VALENCIA, Calif. & MELBOURNE, Australia--(BUSINESS WIRE)--\nAVITA Therapeutics, Inc. (NASDAQ: RCEL, ASX: AVH), 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 provided an update on corporate developments.\n\n\n\nU.S. RECELL® System Sales:\n\n\nJuly represented the highest monthly sales for RECELL Systems in the United States since launch in January 2019.\n\n\nUnaudited sales for the RECELL System in July were U.S.$1.83 million.\n\n\nJuly also witnessed very broad utilization of the RECELL System with 57 unique account orders, and more than 90 physicians using the RECELL System.\n\n\nAVITA expects quarterly revenue in the September quarter to resume growth, and for sales to exceed the U.S.$3.9 million previously reported for the three (3) months ended June 30, 2020.\n\n\nRecall that in the quarter ended June 30, 2020 revenue was deeply impacted by COVID in the United States with sales in the month of April down approximately 25% (versus the previous month).\n\n\nRevenue then recovered in both May and June to deliver a flat sequential quarterly revenue result from the March quarter to the June quarter.\n\n\n\n\n\n\n\n\nClinical Studies:\n\n\nAs previously advised, the U.S. Food & Drug Administration (FDA) granted an investigational device exemption (IDE) to support a vitiligo pivotal study on July 2nd, 2020.\n\n\nSince receipt of the IDE, the Company has worked aggressively to obtain investigational review board approval (IRB) to support initiation of this study, together with commencing contracting discussions with potential clinical sites.\n\n\nAVITA expects to treat our first vitiligo patient during September 2020.\n\n\nThere is a very high degree of both patient and clinical site enthusiasm in participating in our vitiligo pivotal study. Further, the Company continues to believe that the RECELL System is uniquely positioned to offer vitiligo patients a single curative therapy given that the RECELL System has been used to treat over 1,000 vitiligo patients internationally, and has been shown to provide patient benefits to vitiligo patients in eight (8) peer-reviewed publications.\n\n\nAVITA is also actively endeavoring to increase the number of clinical studies participating in each of our clinica...