Avita Medical cuts 2023 commercial revenue guidance on longer hospital approval timelines [Seeking Alpha]
Avita Medical, Inc. (RCEL)
Company Research
Source: Seeking Alpha
RCEL stock had cut back the losses and was last unchanged at $12.54 after hours. Avita ( RCEL ) said it now sees full year commercial revenue of about $49.5M to $50.5M, compared to a previous forecast of $51M to $53M. The revision to the guidance comes to due the result of slower-than-anticipated progression in customers' value analysis committee (VAC) processes. A VAC is a group comprised of multiple roles within a hospital such as physicians, nurses, administrators and supply chain specialists. The group will evaluate and make recommendations on using new products or technology. "Our expanded label for full-thickness skin defects opens up an abundance of exciting applications. With a wider range of potential uses, more clinicians within the hospital are engaged in the VAC process, leading to longer hospital approval timelines,” RCEL top boss Jim Corbett said in a statement "Although the VAC processes are taking longer than anticipated, we expect that once completed, the pro
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RCEL
News
- AVITA Medical Announces FDA 510(k) Clearance for Cohealyx, Expanding its Addressable Market [Yahoo! Finance]Yahoo! Finance
- AVITA Medical Announces FDA 510(k) Clearance for Cohealyx, Expanding its Addressable MarketGlobeNewswire
- AVITA Medical to Present at the 43rd Annual J.P. Morgan Healthcare ConferenceGlobeNewswire
- miraDry Launches Female Leadership Exchange (FLEX) Initiative: Empowering Women in Medical Technology through Advocacy, Innovation, and Strategic Leadership [Yahoo! Finance]Yahoo! Finance
- AVITA Medical to Present at the Piper Sandler 36?? Annual Healthcare ConferenceGlobeNewswire
RCEL
Earnings
- 11/7/24 - Miss
RCEL
Sec Filings
- 12/5/24 - Form 4
- 11/7/24 - Form 10-Q
- 11/7/24 - Form 8-K
- RCEL's page on the SEC website