Benzinga | Jan 10, 2022 08:53AM EST

AVITA Medical Sees Q2 Revenue $6.9M Vs $7M Est

Preliminary Results for the Quarter ended December 31 and Recent Updates:

* Total revenue increased 35% to $6.9 million in the quarter ended December 31, 2021, compared to $5.1 million over the same quarter in the prior year

* As of December 31, 2021, the Company had approximately $55.5 million in cash and cash equivalents and $49.3 million in short-term and long-term marketable securities, and no debt

* Effective December 2021, the Company changed its fiscal year-end to December 31

* Completed enrollment in two clinical trials with the goal of submitting premarket approval (PMA) supplements in 2022 In December 2021, completed enrollment of pivotal clinical trial evaluating the safety and effectiveness of the RECELL(r) System for the repigmentation of stable vitiligo lesions In January 2022, completed enrollment of pivotal study of RECELL System for soft tissue reconstruction (trauma) Successfully established proof of concept with preclinical data in two key areas of cell-based gene therapy -- skin rejuvenation and epidermolysis bullosa.

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