Avita Medical, Inc. · NASDAQ:RCEL
Avita Medical — Q3 2023 Earnings Presentation
23 slides from Avita Medical's earnings presentation, Dec 6, 2023
Slide 1: Accelerating Our Growth Profile
NASDAQ: RCEL ASX: AVH For personal use only Accelerating Our Growth Profile Investor Presentation Third Quarter 2023
Slide 2: Forward-Looking Statements & Legal Disclaimers
Forward-Looking Statements & Legal Disclaimers 2023.11 v3 Certain statements in this presentation and the accompanying oral commentary are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts
Slide 3: Leadership
Leadership For personal use only Donna Shiroma Terry Bromley Debbie Garner Jim Corbett David O’Toole SVP, Global Marketing & Chief Executive Officer* Chief Financial Officer* General Counsel* SVP, Global Sales Strategy 30+ Years of Experience 30+ Years of Experience 20+ Years of Experience 20+ Years
Slide 4: Investment Overview
Investment Overview > Commercial-stage company focused on regenerative medicine to transform the standard of For personal use only care for skin restoration with innovative cellular technology platform, the RECELL® System > Current U.S. FDA-Approved Indications: • Thermal burn wounds and full-thickn
Slide 5: One Platform. Multiple Indications.
One Platform. Multiple Indications. For personal use only Approved 2022 2023 2024 2025 U.S. INDICATIONS Outpatient Code Ease of Use Device BURNS Japan: Approval, RECELL GO Device Reimbursement, Launch Submission: June 30 Expect RECELL GO FDA Approval*: May 30 Expect RECELL GO Device Launch*: May 31
Slide 6: Technology Overview
For personal use only Technology Overview P6
Slide 7: What is RECELL?
What is RECELL? T R E AT M E N T U S I N G R EC E L L R EC E L L enables For personal use only Deliver: autologous suspension sprayed regeneration of healthy onto treatment areas of patient skin 3 2 Prepare: at patient’s bedside, process skin and disaggregate cells with RECELL to produce regenerativ
Slide 8: RECELL Device Evolution
RECELL Device Evolution For personal use only F I R ST GE N E RAT I O N D EV I C E E AS E O F U S E D EV I C E R EC E L L GO D EV I C E • Fewer steps and streamlined • More controlled cell workflow, allowing for faster disaggregation and filtration set up • Simple user interface with timer • Reduces
Slide 9: Commercial Overview
For personal use only Commercial Overview P9
Slide 10: Burns & Full-Thickness Skin Defects
Burns & Full-Thickness Skin Defects Female, pregnant 28-year-old who > F DA AP P ROVAL S suffered from a degloving injury For personal use only • Burns: September 20, 2018 • FTSD: June 7, 2023 U. S. L AU N C H > • • Burns: January 2019 FTSD: immediately following approval on June 8, 2023, with > exp
Slide 11: Burn and Full-Thickness Skin Defects: Market Sizing
Burn and Full-Thickness Skin Defects: Market Sizing Market Size Additional Market Opportunity Prior to FDA Approval 1 with FDA Approved Expanded Indication of FTSD1 For personal use only Traumatic Wounds Traumatic Wounds Surgical Wounds • Degloving (Open Wounds) 99,000 • Gun Shot Wounds 1,500 • Lapa
Slide 12: Synergies Between Burns and Full-Thickness Skin Defects
Synergies Between Burns and Full-Thickness Skin Defects FULL-THICKNESS SKIN DEFECTS INDICATION MEANINGFULLY BROADENS BUSINESS For personal use only Sales Team Will Target a Total of 800 - 1000 Call Points ~127,000 Targeted Acute Wound 25,000 Targeted Burn Procedures + Procedures ~271,500 Expanded FT
Slide 13: Full-Thickness Skin Defect Launch
Full-Thickness Skin Defect Launch F TS D U T I L I Z ES I N - PAT I E NT R E I M B U R S E M E N T: For personal use only • Same DRG code as burns; effective immediately F TS D U T I L I Z ES O U T- PAT I E N T T RAN S I T I O N AL PASS-T H RO U GH CO D E (T PTC ): • Same code as burns; effective im
Slide 14: Global Commercialization Strategy
Global Commercialization Strategy FOCUSED MARKET For personal use only • Australia • European Union • Japan STRATEGY • Plan to expand exclusively through third-party distribution partners UPDATE • In October 2023, engaged first European distribution partner, PolyMedics Innovations, to lead expansion
Slide 15: Long-term Horizon: Vitiligo Opportunity
Long-term Horizon: Vitiligo Opportunity R EC E I V E D F DA A P P ROVA L I N J U N E 2023, W I T H ST U DY R E S U LTS : Patient from a prior study at six-months > • Primary endpoint: proportion of study sites achieving ≥8 0 % re- RECELL-treated area was 100% For personal use only pigmentation for R
Slide 16: Financials
For personal use only Financials P 16
Slide 17: Average Selling Price
Average Selling Price FDA APPROVED DEVICES For personal use only • 1920: $6,500 • RECELL Ease of Use: $6,500 PENDING FDA APPROVAL • RECELL GO: • Durable device: loan at no cost • Disposable cartridge: $6,500 P 17
Slide 18: Financial Overview
Financial Overview Full-Year Three-Months Ended Ended Strong For personal use only (USD in $000s) 2022 Mar 31, 2023 Jun 30, 2023 Sep 30, 2023 Commercial Growth 16,000 Commercial Sales $34,051 $10,458 $11,686 $13,547 14,000 Deferred Commercial Revenue - - - 8 U.S. Commercial Sales BARDA Service Reven
Slide 19: Financial Update
Financial Update DEBT FINANCING FACILITY For personal use only • In October, secured debt financing facility for up to $90 million; $40 million was borrowed at closing • Sufficient capital to meet goals and reach profitability during 2025 • Two $25 million tranches available at our option. FINANCIAL
Slide 20: Summary
For personal use only Summary P 20
Slide 21: 2023: A Year of Inflection
2023: A Year of Inflection > BURNS U.S. Market • Core burn centers will continue to penetrate, adopt, and grow FTSD AND VITILIGO GREATLY EXPAND • For personal use only Utilization to expand as sales force captures remaining 30% of market sitting OPPORTUNITY outside of burn centers Burn Patients > F
Slide 22: Looking Ahead: Topics for Next Earnings Call
Looking Ahead: Topics for Next Earnings Call in February 2024 > CO M M E RC I A L R E V E N U E G U I DA N C E For personal use only • Full year 2024, including Q1 2024 > P RO F I TA B I L I T Y • Guidance on the quarter in 2025 in which we have positive cash flow and become profitable > CO M M E RC
Slide 23: For personal use only
For personal use only