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 to Announce Third Quarter 2024 Financial Results [Yahoo! Finance]Yahoo! Finance
- AVITA Medical to Announce Third Quarter 2024 Financial ResultsGlobeNewswire
- AVITA Medical (NASDAQ:RCEL) shareholders have endured a 74% loss from investing in the stock five years ago [Yahoo! Finance]Yahoo! Finance
- The Brooks Group Recognized Among Notable Providers in Global Research Firm's Sales Training Services Landscape, Q4 2024 [Yahoo! Finance]Yahoo! Finance
- AVITA Medical to Present at 2024 Cantor Global Healthcare ConferenceGlobeNewswire
RCEL
Earnings
- 8/8/24 - Miss
RCEL
Sec Filings
- 8/20/24 - Form 4
- 8/9/24 - Form S-8
- 8/8/24 - Form 10-Q
- RCEL's page on the SEC website