- Regenerative healthcare company Avita Therapeutics (AVH) has tabled its preliminary unaudited results for the second quarter of the 2021 financial year
- The company estimates its U.S. RECELL revenue was $5 million and global revenue was $5.1 million, the same figures reported for the previous quarter
- At the end of December, Avita had $59.8 million of cash in hand, which is $6 million less than at the end of September
- Meanwhile, enrollment continued with the addition for nine new patients to the pivotal study assessing the use of RECELL as a treatment for stable vitiligo
- Shares have been trading 14 per cent higher at $5.53
Avita Therapeutics (AVH) has tabled its preliminary unaudited results for the second quarter of the 2021 financial year.
The company estimates its U.S. RECELL revenue was $5 million and global revenue was $5.1 million, the same figures reported for the previous quarter.
Although the RECELL revenue was $1.9 million more than that generated in the prior corresponding period (pcp) and global revenue was also up $1.8 million when compared to the pcp.
CEO Dr Mike Perry said the company has managed to continue progressing its initiatives despite trying circumstances.
“I’m pleased with our team’s commercial execution during these challenging times. We continue to make solid progress on our pipeline initiatives.”
Enrolment continued during the quarter for the pivotal study assessing the use of RECELL as a treatment for stable vitiligo, with nine new patients added.
The RECELL System uses a sample of a patient’s skin to produce Spray-On Skin Cells and in 2018 was approved by the U.S. Food and Drug Administration as a treatment for severe thermal burns in adults.
Overall, Avita estimates there were 485 procedures completed in the second quarter of the financial year, compared to 496 in the first quarter.
Additionally, there were seven new accounts added, bringing the total to 93.
At the end of December, Avita had $59.8 million of cash in hand, which is $6 million less than at the end of September.
Shares have been trading 14 per cent higher at $5.53 at 12:48 AEDT.