Login | Register
Profile | Log out
logo

  • Home
  • News
  • Opinion
  • Other
    • Market Updates
    • Explainers
    • Satire
  • About
  • Contact Us
    • Contact
    • Get Covered
    • Posting Guidelines
  • Subscribe
Submit An Article

Latest Articles

  • Nanoveu Secures $2 Million to Fast-Track Commercial Launch of ECS-DoT Chip and AIoT Platform
    Nanoveu Secures $2 Million to Fast-Track Commercial Launch of ECS-DoT Chip and AIoT Platform
    • News

  • Archer Unlocks Cryogenic Sensor Breakthrough for Quantum Computing
    Archer Unlocks Cryogenic Sensor Breakthrough for Quantum Computing
    • News

  • EGL Secures $1.9M PFAS Plant Contract as Demand for Clean-Up Technologies Surges
    EGL Secures $1.9M PFAS Plant Contract as Demand for Clean-Up Technologies Surges
    • News

  • RocketDNA Secures Major Aerial Tech Contract with Vault Minerals at WA Gold Site
    RocketDNA Secures Major Aerial Tech Contract with Vault Minerals at WA Gold Site
    • News

  • BirdDog Boosts Buy-Back Offer by 40% Ahead of ASX Delisting Vote
    BirdDog Boosts Buy-Back Offer by 40% Ahead of ASX Delisting Vote
    • News

  • AML3D Launches High-Tech U.S. Facility to Power Submarine Supply Chain
    AML3D Launches High-Tech U.S. Facility to Power Submarine Supply Chain
    • News

  • Vection Enters $520K Agritech Deal to Build AI-Powered Farming Robot
    Vection Enters $520K Agritech Deal to Build AI-Powered Farming Robot
    • News

  • Unith Achieves Strong Growth in Platform Usage and Strategic Partnerships
    Unith Achieves Strong Growth in Platform Usage and Strategic Partnerships
    • News

  • FBR and Samsung Heavy Industries Execute Engineering Service Agreement for Shipbuilding Automation Project
    FBR and Samsung Heavy Industries Execute Engineering Service Agreement for Shipbuilding Automation Project
    • News

  • Bioxyne Lifts FY2025 Revenue Forecast as Psychedelics and Pharma Push Gains Pace
    Bioxyne Lifts FY2025 Revenue Forecast as Psychedelics and Pharma Push Gains Pace
    • News

Spray-on skin revenue exceeds initial forecasts

  • In News
  • June 16, 2021
  • Samantha Freidin
Spray-on skin revenue exceeds initial forecasts

The inventors of “spray-on skin”, Avita Medical (ASX: AVH) have today released their financial results for the fiscal fourth quarter with the Company reporting strong revenue.

The Company was founded to develop and commercialise the RECELL “spray-on skin” product, invented in Perth by Professor Fiona Wood. Professor Wood is a world renowned surgeon and researcher in the area of burns treatment. She is currently working with Australian pharmaceutical company Pharmaxis (ASX: PXS), leading their clinical trial targeting scar free recovery with their topical compound.

Avita’s RECELL technology aims to reduce the need for painful skin grafts in burn and trauma victims by providing an alternative treatment with better patient outcomes. It is now indicated for use in the treatment of acute thermal burns since being approved by the Food and Drug Administration (FDA) in September 2018.

The Company has realised total revenue in excess of the guidance range which was $8.2-8.6 million and is now raising this to $9.5-9.7 million. This figure consists of $6.0-$6.2 million of RECELL commercial revenue and $3.5 million of RECELL revenue associated with the US Department of Health and Human Services’ Biomedical Advanced Research and Development Authority (BARDA).

The increases in revenue guidance are reflective of a 55%-60% increase on revenue over the prior year period and 30%-34% increase over the third quarter of 2021.

Chief Executive Officer, Dr. Mike Perry said: “ As people begin to return to normal activities after the confines of the COVID-19 pandemic, we have seen an increase in burn accidents requiring treatment with the RECELL system in burn centres across the country.”

The Company expects to release full fourth quarter financials and operating results in late August.

  • About
  • Latest Posts
Samantha Freidin
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
Latest posts by Samantha Freidin (see all)
  • Parkinson’s UK backs Pharmaxis with $5 million to slow the onset of incurable disease with ‘ground breaking’ trial - September 1, 2022
  • How this company is developing medtech to support Indigenous community health - August 22, 2022
  • A round of ap-paws for PharmAust, changing the ruff prognosis for dogs with lymphoma - August 17, 2022
  •  
  •  
  •  
  •  
  • asx avh
  • avh
  • avita medical
  • barda
  • fiona wood
  • mike perry
  • pharmaxis
  • pxs
  • recell
  • News

Leave a Comment

You must be logged in to post a comment.

  • About
  • Latest Posts
Samantha Freidin
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
Latest posts by Samantha Freidin (see all)
  • Parkinson’s UK backs Pharmaxis with $5 million to slow the onset of incurable disease with ‘ground breaking’ trial - September 1, 2022
  • How this company is developing medtech to support Indigenous community health - August 22, 2022
  • A round of ap-paws for PharmAust, changing the ruff prognosis for dogs with lymphoma - August 17, 2022

Login or register for free to access unlimited reading

Register Now!
  • About
  • Latest Posts
Samantha Freidin
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
Latest posts by Samantha Freidin (see all)
  • Parkinson’s UK backs Pharmaxis with $5 million to slow the onset of incurable disease with ‘ground breaking’ trial - September 1, 2022
  • How this company is developing medtech to support Indigenous community health - August 22, 2022
  • A round of ap-paws for PharmAust, changing the ruff prognosis for dogs with lymphoma - August 17, 2022
  • News

  • Opinion

  • Satire

  • About

  • Contact Us

  • Subscribe

The content published on this website is solely for general information purposes and is not to be construed as financial advice. Should you seek financial advice you should consult with an appropriately qualified person. Opinions expressed on this site are subject to change without notice and The Sentiment who produced this content is under no obligation to keep the information current. The Sentiment, affiliated companies & associates may have a conflict of interest with companies discussed on the website due to commercial arrangements, for example they may be shareholders in the company, be engaged by them to assist in investor communications or receive commission/brokerage for funds raised.

Copyright © 2020 The Sentiment. All rights reserved.
Subscribe

Enter your email address below to subscribe to The Sentiment’s weekly newsletter, highlighting the top news, research, opinion and satire articles shaping ASX investor sentiment.

The Sentiment respects your privacy and will not spam you. View our privacy policy here.