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Stock impact report

AVITA Medical Reports Third Quarter Financial Results

Avita Medical, Inc. (RCEL) 
Company Research Source: GlobeNewswire
VALENCIA, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- AVITA Medical, Inc. (NASDAQ: RCEL, ASX: AVH), a commercial-stage regenerative medicine company focused on first-in-class devices for wound care management and skin restoration, today reported financial results for the third quarter ended September 30, 2024. Financial Results and Recent Business Updates Commercial revenue of $19.5 million, an increase of approximately 44% compared to the same period in 2023Gross profit margin of 83.7%On July 31, 2024, entered into a multi-year development and distribution agreement with Regenity Biosciences that provides AVITA Medical with the exclusive rights to market, sell, and distribute Cohealyx™, an AVITA Medical branded collagen-based dermal matrixOn November 7, 2024, amended the credit agreement with OrbiMed in a mutually beneficial arrangement, forgoing access to an additional $50 million in funding in exchange for removal of the 12-month trailing revenue covenant for the period ending De Show less Read more
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