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RCEL

RCEL

Avita Medical
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AVITA Therapeutics to Participate at the Piper Sandler 32nd Annual Virtual Healthcare Conference
VALENCIA, Calif., Nov. 18, 2020 (GLOBE NEWSWIRE) -- AVITA Therapeutics, Inc. (NASDAQ: RCEL, ASX:AVH), a regenerative medicine company that is developing and commercializing a technology platform that enables point-of-care autologous skin restoration for multiple unmet needs, announced today that management will participate at the Piper Sandler 32nd Annual Virtual Healthcare Conference on Tuesday, December 1, 2020. Authorized for release by the Chief Executive Officer of AVITA Therapeutics, Inc.ABOUT AVITA THERAPEUTICS, INC. AVITA Therapeutics is a regenerative medicine company with a technology platform positioned to address unmet medical needs in burns, chronic wounds, and aesthetics indications. AVITA Therapeutics’ patented and proprietary collection and application technology provides innovative treatment solutions derived from the regenerative properties of a patient’s own skin. The medical devices work by preparing a RES® REGENERATIVE EPIDERMAL SUSPENSION, an autologous suspension comprised of the patient’s skin cells necessary to regenerate natural healthy epidermis. This autologous suspension is then sprayed onto the areas of the patient requiring treatment.AVITA Therapeutics’ first U.S. product, the RECELL® System, was approved by the U.S. Food and Drug Administration (FDA) in September 2018. The RECELL System is indicated for use in the treatment of acute thermal burns in patients 18 years and older. The RECELL System is used to prepare Spray-On Skin™ Cells using a small amount of a patient’s own skin, providing a new way to treat severe burns, while significantly reducing the amount of donor skin required. The RECELL System is designed to be used at the point of care alone or in combination with autografts depending on the depth of the burn injury. Compelling data from randomized, controlled clinical trials conducted at major U.S. burn centers and real-world use in more than 8,000 patients globally, reinforce that the RECELL System is a significant advancement over the current standard of care for burn patients and offers benefits in clinical outcomes and cost savings. Healthcare professionals should read the INSTRUCTIONS FOR USE - RECELL® Autologous Cell Harvesting Device (https://recellsystem.com/) for a full description of indications for use and important safety information including contraindications, warnings and precautions.In international markets, our products are marketed under the RECELL System brand to promote skin healing in a wide range of applications including burns, chronic wounds and aesthetics. The RECELL System is TGA-registered in Australia and received CE-mark approval in Europe. To learn more, visit www.avitamedical.com.CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This letter includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “intend,” “could,” “may,” “will,” “believe,” “estimate,” “look forward,” “forecast,” “goal,” “target,” “project,” “continue,” “outlook,” “guidance,” “future,” other words of similar meaning and the use of future dates. Forward-looking statements in this letter include, but are not limited to, statements concerning, among other things, our ongoing clinical trials and product development activities, regulatory approval of our products, the potential for future growth in our business, and our ability to achieve our key strategic, operational and financial goal. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Each forward- looking statement contained in this letter is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the timing of regulatory approvals of our products; physician acceptance, endorsement, and use of our products; failure to achieve the anticipated benefits from approval of our products; the effect of regulatory actions; product liability claims; risks associated with international operations and expansion; and other business effects, including the effects of industry, economic or political conditions outside of the company’s control. Investors should not place considerable reliance on the forward-looking statements contained in this letter. Investors are encouraged to read our publicly available filings for a discussion of these and other risks and uncertainties. The forward-looking statements in this letter speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements.FOR FURTHER INFORMATION:U.S. Media Sam Brown, Inc. Christy Curran Phone +1 615 414 8668 christycurran@sambrown.com O.U.S Media Monsoon Communications Rudi Michelson Phone +61 (0)3 9620 3333 Mobile +61 (0)411 402 737 rudim@monsoon.com.auInvestors: Westwicke Partners Caroline Corner Phone +1 415 202 5678 caroline.corner@westwicke.com
GlobeNewswire · 11/18 21:01
Avita Medical reports FQ1 results
Avita Medical (RCEL): FQ1 GAAP EPS of -A$0.48.Revenue of A$5.1M (+54.5% Y/Y)Press Release
Seekingalpha · 11/10 21:15
AVITA Therapeutics, Inc.: Results of 2020 Annual Meeting of Shareholders
VALENCIA, Calif. and MELBOURNE, Australia, Nov. 10, 2020 (GLOBE NEWSWIRE) -- AVITA Therapeutics, Inc. (NASDAQ: RCEL, ASX: AVH) (Company), a regenerative medicine company that is developing and commercializing a technology platform that enables point-of-care autologous skin restoration for multiple unmet needs, is pleased to announce the results of its 2020 Annual Meeting of Shareholders that was held virtually today, being Monday, November 9, 2020 (Valencia, California) / Tuesday, November 10, 2020 (Melbourne, Australia). Election of Directors: All five directors named in the Company’s proxy statement were re-elected to serve on the Company’s Board of Directors: Louis Panaccio, Chair; Dr. Michael Perry, Executive Director and CEO; Professor Suzanne Crowe, Director; Louis Drapeau, Director; and Jeremy Curnock Cook, Director.Appointment of Independent Auditors: Shareholders approved the ratification of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending June 30, 2021, as described in the proxy statement.2020 Omnibus Incentive Plan: Shareholders approved (a) the adoption of the Company’s 2020 Omnibus Incentive Plan (the Plan), the terms of which are summarized in the proxy statement; and (b) for the purposes of ASX Listing Rule 7.2 Exception 13(b) and for all other purposes, the issue of equity securities in the Company under and subject to the terms of the Plan for three years commencing on the date of approval of the Plan by the Company’s shareholders.Maximum Aggregate Annual Cash Pool for Non-Executive Directors: Shareholders approved the increase in the maximum aggregate annual cash fee pool from which non-executive directors of the Company may be paid for their service as a member of the board of directors of the Company from A$450,000 per annum to US$600,000 per annum.Issue of Securities to Mr. Louis Panaccio: Shareholders approved the issue of shares of common stock or CHESS Depositary Interests in the Company to Mr. Louis Panaccio (or his nominee) up to a value of US$8,333 in each fiscal year during the three year period from the date of the Annual Meeting of Shareholders under the Plan, in lieu of the equivalent amount of directors fees otherwise payable to him by the Company, on the terms and conditions as set out in the proxy statement.Issue of Securities to Professor Suzanne Crowe: Shareholders approved the issue of shares of common stock or CHESS Depositary Interests in the Company to Professor Suzanne Crowe (or her nominee) up to a value of US$8,333 in each fiscal year during the three year period from the date of the Annual Meeting of Shareholders under Plan, in lieu of the equivalent amount of directors fees otherwise payable to her by the Company, on the terms and conditions as set out in the proxy statement.Issue of Securities to Mr. Louis Drapeau: Shareholders approved the issue of shares of common stock or CHESS Depositary Interests in the Company to Mr. Louis Drapeau (or his nominee) up to a value of US$8,333 in each fiscal year during the three year period from the date of the Annual Meeting of Shareholders under the Plan, in lieu of the equivalent amount of directors fees otherwise payable to him by the Company, on the terms and conditions as set out in the proxy statement.Issue of Securities to Mr. Jeremy Curnock Cook: Shareholders approved the issue of shares of common stock or CHESS Depositary Interests in the Company to Mr. Jeremy Curnock Cook (or his nominee) up to a value of US$8,333 in each fiscal year during the three year period from the date of the Annual Meeting of Shareholders under the Plan, in lieu of the equivalent amount of directors fees otherwise payable to him by the Company, on the terms and conditions as set out in the proxy statement.Advisory Vote to Approve Compensation of Named Executive Officers: Shareholders voted in favour of the non-binding advisory vote to approve the compensation of the Company’s named executive officers.Advisory Vote to Approve the Frequency of Future Advisory Votes: In relation to the non-binding advisory vote to approve the frequency of future advisory votes to approve executive compensation, shareholders voted in favour of future advisory votes being held every one year.Dr. Michael Perry, Chief Executive Officer, commented, “We are pleased the shareholders of AVITA Therapeutics, Inc. have shown their confidence with the Board of Directors by electing them to serve for another year. The executive team and employees of the Company will continue to execute on our strategies of enrolling subjects in our clinical trials, exploring indications in other adjacencies, and ramping our revenues for the use of RECELL® in burns.”The final votes have been reported in a Form 8-K that was filed with the Securities and Exchange Commission earlier today. The filing can be found on the Company’s website at https://ir.avitamedical.com/financials/sec-filings.The voting results of the Annual Meeting of Shareholders for the purposes of ASX Listing Rule 3.13.2 are attached to this announcement.Authorized for release by the Chief Executive Officer of AVITA Therapeutics, Inc.ABOUT AVITA THERAPEUTICS, INC.AVITA Therapeutics is a regenerative medicine company with a technology platform positioned to address unmet medical needs in burns, chronic wounds, and aesthetics indications. AVITA Therapeutics’ patented and proprietary collection and application technology provides innovative treatment solutions derived from the regenerative properties of a patient’s own skin. The medical devices work by preparing a RES® REGENERATIVE EPIDERMAL SUSPENSION, an autologous suspension comprised of the patient’s skin cells necessary to regenerate natural healthy epidermis. This autologous suspension is then sprayed onto the areas of the patient requiring treatment.AVITA Therapeutics’ first U.S. product, the RECELL® System, was approved by the U.S. Food and Drug Administration (FDA) in September 2018. The RECELL System is indicated for use in the treatment of acute thermal burns in patients 18 years and older. The RECELL System is used to prepare Spray-On Skin™ Cells using a small amount of a patient’s own skin, providing a new way to treat severe burns, while significantly reducing the amount of donor skin required. The RECELL System is designed to be used at the point of care alone or in combination with autografts depending on the depth of the burn injury. Compelling data from randomized, controlled clinical trials conducted at major U.S. burn centers and real-world use in more than 8,000 patients globally, reinforce that the RECELL System is a significant advancement over the current standard of care for burn patients and offers benefits in clinical outcomes and cost savings. Healthcare professionals should read the INSTRUCTIONS FOR USE - RECELL® Autologous Cell Harvesting Device (https://recellsystem.com/) for a full description of indications for use and important safety information including contraindications, warnings and precautions.In international markets, our products are marketed under the RECELL System brand to promote skin healing in a wide range of applications including burns, chronic wounds and aesthetics. The RECELL System is TGA-registered in Australia and received CE-mark approval in Europe.To learn more, visit www.avitamedical.com.CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTSThis announcement includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “intend,” “could,” “may,” “will,” “believe,” “estimate,” “look forward,” “forecast,” “goal,” “target,” “project,” “continue,” “outlook,” “guidance,” “future,” other words of similar meaning and the use of future dates. Forward-looking statements in this announcement include, but are not limited to, statements concerning, among other things, our ongoing clinical trials and product development activities, regulatory approval of our products, the potential for future growth in our business, and our ability to achieve our key strategic, operational and financial goal. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Each forward- looking statement contained in this announcement is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the timing of regulatory approvals of our products; physician acceptance, endorsement, and use of our products; failure to achieve the anticipated benefits from approval of our products; the effect of regulatory actions; product liability claims; risks associated with international operations and expansion; and other business effects, including the effects of industry, economic or political conditions outside of the company’s control. Investors should not place considerable reliance on the forward-looking statements contained in this announcement. Investors are encouraged to read our publicly available filings for a discussion of these and other risks and uncertainties. The forward-looking statements in this announcement speak only as of the date of this announcement, and we undertake no obligation to update or revise any of these statements.FOR FURTHER INFORMATION: U.S. Media Sam Brown, Inc. Christy Curran Phone +1 615 414 8668 christycurran@sambrown.com O.U.S Media Monsoon Communications Rudi Michelson Phone +61 (0)3 9620 3333 Mobile +61 (0)411 402 737 rudim@monsoon.com.au Investors: Westwicke Partners Caroline Corner Phone +1 415 202 5678 caroline.corner@westwicke.com AVITA Therapeutics, Inc. Annual Meeting of Shareholders November 9, 2020 (Pacific Time) / November 10, 2020 (Australian Eastern Daylight Time) Voting ResultsThe following information is provided for the purposes of ASX Listing Rule 3.13.2.Resolution detailsInstructions given to validly appointed proxies (as at proxy close)Number of votes cast on the pollResolution result ResolutionForAgainstProxy’s discretionAbstainForAgainstAbstain*Carried / not carried Resolution 1: Election of Directors to serve a one-year term Lou Panaccio, Chairman of the Board of Directors 8,454,939 92.44%691,576 7.56%0 0%08,454,939 92.44% 691,576 7.56% 0Carried Resolution 1: Election of Directors to serve a one-year term Dr. Michael Perry, Director and Chief Executive Officer 8,057,811 88.31%1,066,472 11.69%0 0% 08,057,811 88.31% 1,066,472 11.69%0Carried Resolution 1: Election of Directors to serve a one-year term Jeremy Curnock Cook, Director 8,158,543 89.42%965,187 10.58%0 0% 08,158,543 89.42% 965,187 10.58%0Carried Resolution 1: Election of Directors to serve a one-year term Louis Drapeau, Director 8,113,245 88.92%1,011,038 11.08%0 0%08,113,245 88.92%1,011,038 11.08%0Carried Resolution 1: Election of Directors to serve a one-year term Professor Suzanne Crowe, Director 8,140,881 89.24% 981,886 10.76%0 0%08,140,881 89.24% 981,886 10.76%0Carried Resolution 2: To ratify the appointment of Grant Thornton LLP as the Company’s independent public accountants for the fiscal year ending June 30, 2021. 11,377,348 93.21%605,154 4.96%0 0%233,655 11,377,348 93.21%605,154 4.96%233,655 Carried Resolution 3: To approve (a) the adoption of the Company’s 2020 Omnibus Incentive Plan; and (b) for the purposes of ASX Listing Rule 7.2 Exception 13(b) and for all other purposes, the issue of equity securities in the Company under and subject to the terms of the 2020 Omnibus Incentive Plan for three years commencing on the date that it is approved by the Company’s stockholders. 7,267,180 79.45%1,495,921 16.35%0 0% 384,2907,267,180 79.45% 1,495,921 16.35% 384,290Carried Resolution 4: To approve for the purposes of ASX Listing Rule 10.17 and for all other purposes that the maximum aggregate annual cash fee pool from which non-executive directors of the Company may be paid for serving on the board be increased from A$450,000 to US$600,000 per annum. 6,642,165 72.62% 2,130,840 23.29% 0 0%374,2246,642,165 72.62% 2,130,840 23.29% 374,224Carried Resolution 5: To approve, subject to Resolution 3 passing, the issue of shares of common stock or CDIs to Mr Louis Panaccio (or his nominee) over the next three years up to a value of US$8,333 in each fiscal year under the Company’s 2020 Omnibus Incentive Plan, pursuant to and for the purposes of ASX Listing Rule 10.14. 7,812,194 85.40% 946,460 10.35% 0 0%388,5757,812,194 85.40% 946,460 10.35% 388,575Carried Resolution 6: To approve, subject to Resolution 3 passing, the issue of shares of common stock or CDIs to Prof Suzanne Crowe (or her nominee) over the next three years up to a value of US$8,333 in each fiscal year under the Company’s 2020 Omnibus Incentive Plan, pursuant to and for the purposes of ASX Listing Rule 10.14. 7,885,577 86.20% 870,563 9.52% 0 0% 391,0897,885,577 86.20% 870,563 9.52% 391,089Carried Resolution 7: To approve, subject to Resolution 3 passing, the issue of shares of common stock or CDIs to Mr Louis Drapeau (or his nominee) over the next three years up to a value of US$8,333 in each fiscal year under the Company’s 2020 Omnibus Incentive Plan, pursuant to and for the purposes of ASX Listing Rule 10.14. 7,874,138 86.09%878,478 9.60%0 0% 394,6137,874,138 86.09% 878,478 9.60%394,613Carried Resolution 8: To approve, subject to Resolution 3 passing, the issue of shares of common stock or CDIs to Mr Jeremy Curnock Cook (or his nominee) over the next three years up to a value of US$8,333 in each fiscal year under the Company’s 2020 Omnibus Incentive Plan, pursuant to and for the purposes of ASX Listing Rule 10.14. 7,868,343 86.02% 882,367 9.65%0 0% 396,519 7,868,343 86.02% 882,367 9.65%396,519Carried Resolution 9: Advisory vote to approve the compensation of the Company’s named executive officers. 4,619,013 50.49%4,289,735 46.90%0 0%238,4814,619,013 50.49%4,289,735 46.90%238,481Carried Resolution detailsInstructions given to validly appointed proxies (as at proxy close)Number of votes cast on the pollResolution result ResolutionOne year Two yearsThree yearsProxy’s discretionAbstainOne yearTwo yearsThree yearsAbstain*Result Resolution 10: Advisory vote to approve the frequency of future advisory votes to approve executive compensation (every one, two or three years). 7,783,828 85.04%298,482 3.26%781,285 8.53%0 0%290,4247,783,828 85.04%298,482 3.26%781,285 8.53%290,424One Year *Votes relating to a person who abstained on Resolution 1, 4, 5, 6, 7, 8 or 10 (as applicable) were not counted in determining whether or not the required majority of votes were cast for or against that Resolution. Votes relating to a person who abstained on Resolution 2, 3 or 9 (as applicable) were counted as votes “AGAINST” that Resolution in determining whether or not the required majority of votes were cast for or against that Resolution.
GlobeNewswire · 11/10 13:00
AVITA Therapeutics, Inc. Announces Executive Change
VALENCIA, Calif. and MELBOURNE, Australia, Nov. 05, 2020 (GLOBE NEWSWIRE) -- AVITA Therapeutics, Inc. (NASDAQ: RCEL, ASX: AVH), a regenerative medicine company that is developing and commercializing a technology platform that enables point-of-care autologous skin restoration for multiple unmet needs, announced today that David McIntyre notified the Company of his intention to resign as the Company’s Chief Financial Officer in order to pursue life sciences opportunities in his home state of New Jersey. The effective date of his resignation is November 23, 2020. Mr. McIntyre has also agreed to provide consultancy services to the Company through December 31, 2020 so as to support a smooth transition of his responsibilities. The Company wishes to thank David for successfully leading and completing the redomiciliation project during his tenure as well as for his many valuable contributions to AVITA’s executive leadership team. Mr. McIntyre’s responsibilities as the Company’s principal financial officer and principal accounting officer will transition to Mr. Sean Ekins, the Company’s Vice President of Finance, with effect from November 9, 2020.The Company will immediately commence an external search for its next Chief Financial Officer who will be based at AVITA’s headquarters in Valencia, CA.There is no family relationship between Mr. Ekins and any director, executive officer or person nominated or chosen by the Company to become a director or executive officer at the Company. The Company has not entered into any transactions with Mr. Ekins that would require disclosure pursuant to Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended.Authorized for release by the Chief Executive Officer of AVITA Therapeutics, Inc.ABOUT AVITA THERAPEUTICS, INC. AVITA Therapeutics is a regenerative medicine company with a technology platform positioned to address unmet medical needs in burns, chronic wounds, and aesthetics indications. AVITA Therapeutics’ patented and proprietary collection and application technology provides innovative treatment solutions derived from the regenerative properties of a patient’s own skin. The medical devices work by preparing a RES® REGENERATIVE EPIDERMAL SUSPENSION, an autologous suspension comprised of the patient’s skin cells necessary to regenerate natural healthy epidermis. This autologous suspension is then sprayed onto the areas of the patient requiring treatment.AVITA Therapeutics’ first U.S. product, the RECELL® System, was approved by the U.S. Food and Drug Administration (FDA) in September 2018. The RECELL System is indicated for use in the treatment of acute thermal burns in patients 18 years and older. The RECELL System is used to prepare Spray-On Skin™ Cells using a small amount of a patient’s own skin, providing a new way to treat severe burns, while significantly reducing the amount of donor skin required. The RECELL System is designed to be used at the point of care alone or in combination with autografts depending on the depth of the burn injury. Compelling data from randomized, controlled clinical trials conducted at major U.S. burn centers and real-world use in more than 8,000 patients globally, reinforce that the RECELL System is a significant advancement over the current standard of care for burn patients and offers benefits in clinical outcomes and cost savings. Healthcare professionals should read the INSTRUCTIONS FOR USE - RECELL® Autologous Cell Harvesting Device (https://recellsystem.com/) for a full description of indications for use and important safety information including contraindications, warnings and precautions.In international markets, our products are marketed under the RECELL System brand to promote skin healing in a wide range of applications including burns, chronic wounds and aesthetics. The RECELL System is TGA-registered in Australia and received CE-mark approval in Europe. To learn more, visit www.avitamedical.com.CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This letter includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “intend,” “could,” “may,” “will,” “believe,” “estimate,” “look forward,” “forecast,” “goal,” “target,” “project,” “continue,” “outlook,” “guidance,” “future,” other words of similar meaning and the use of future dates. Forward-looking statements in this letter include, but are not limited to, statements concerning, among other things, our ongoing clinical trials and product development activities, regulatory approval of our products, the potential for future growth in our business, and our ability to achieve our key strategic, operational and financial goal. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Each forward- looking statement contained in this letter is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the timing of regulatory approvals of our products; physician acceptance, endorsement, and use of our products; failure to achieve the anticipated benefits from approval of our products; the effect of regulatory actions; product liability claims; risks associated with international operations and expansion; and other business effects, including the effects of industry, economic or political conditions outside of the company’s control. Investors should not place considerable reliance on the forward-looking statements contained in this letter. Investors are encouraged to read our publicly available filings for a discussion of these and other risks and uncertainties. The forward-looking statements in this letter speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements.FOR FURTHER INFORMATION: U.S. Media Sam Brown, Inc. Christy Curran Phone +1 615 414 8668 christycurran@sambrown.com O.U.S Media Monsoon Communications Rudi Michelson Phone +61 (0)3 9620 3333 Mobile +61 (0)411 402 737 rudim@monsoon.com.au Investors Westwicke Partners Caroline Corner Phone +1 415 202 5678 caroline.corner@westwicke.com PR20201105
GlobeNewswire · 11/06 03:30
We're Hopeful That AVITA Therapeutics (ASX:AVH) Will Use Its Cash Wisely
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although...
Simply Wall St. · 11/05 22:13
AVITA Therapeutics Announces Date Change For First Quarter 2021 Earnings Release and Conference Call From Nov. 11 To Nov. 10
VALENCIA, Calif., Nov. 03, 2020 (GLOBE NEWSWIRE) -- AVITA Therapeutics, Inc. (NASDAQ:RCEL, ASX:AVH)))), a regenerative medicine company that is developing and commercializing a technology platform that enables
Benzinga · 11/03 21:01
AVITA Therapeutics, Inc. Announces Adjournment of 2020 Annual Stockholder Meeting
VALENCIA, Calif., Oct. 29, 2020 (GLOBE NEWSWIRE) -- AVITA Therapeutics, Inc. (NASDAQ: RCEL, ASX:AVH), a regenerative medicine company that is developing and commercializing a technology platform that enables point-of-care autologous skin restoration for multiple unmet needs, wishes to advise that its 2020 Annual Stockholder Meeting (the “Annual Meeting”), which was scheduled to be held today, October 29, 2020 at 1.00 p.m. Pacific Time (being Friday, October 30, 2020 at 7.00 a.m. Australian Eastern Daylight Time (“AEDT”)), was convened and adjourned, without any business being conducted, due to the lack of the required quorum.The required quorum for convening the Annual Meeting is a simple majority (i.e. 50%) of the Company’s common stock (calculated as of September 10, 2020) being present at the Annual Meeting. At the time the Annual Meeting was adjourned, proxies had been submitted by stockholders representing approximately 49% of the shares of the Company’s common stock outstanding and entitled to vote at the Annual Meeting (including shares of common stock underlying CHESS Depositary Interests (“CDIs”)).As a result of the required quorum not being present, the Annual Meeting has been adjourned to 1:00 p.m. (Pacific Time) on November 9, 2020 (being Tuesday, November 10, 2020 at 7:00 a.m. (AEDT)) (“Adjourned Annual Meeting”) to allow additional time for the Company’s stockholders and holders of the Company’s CDIs to vote on the proposals set forth in the Company’s definitive proxy statement filed with the United States Securities and Exchange Commission (“SEC”) on September 25, 2020, and thereby satisfy the required quorum for the meeting. The adjourned Annual Meeting will be conducted via a live webcast. The virtual meeting link provided in the proxy statement of http://www.meetingcenter.io/266106465 can be used to access the Adjourned Annual Meeting.During the current adjournment period, the Company will continue to solicit votes from its stockholders and CDI holders with respect to the proposals set forth in the Company’s proxy statement. The Company has engaged a proxy solicitor, Okapi Partners LLC, to assist management with obtaining adequate votes to achieve the required quorum of at least a majority of the outstanding shares of common stock (including shares of common stock underlying CDIs).Only stockholders and CDI holders of record as of the record date, being 5:00 p.m. on September 10, 2020 (Pacific Time) (being 10:00 a.m. on September 11, 2020 (AEDT)) are entitled to vote. Valid proxies and CDI Voting Instruction Forms previously submitted in respect of the Annual Meeting will be voted at the Adjourned Annual Meeting unless properly revoked, and stockholders and CDI holders who have previously submitted a valid proxy card, CDI Voting Instruction Form or otherwise voted need not take any action unless they wish to change their vote.Previously, the voting cut-off date for holders of the Company’s CDIs was 7:00 p.m. Monday, October 26, 2020 (AEDT). Due to the adjournment of the Annual Meeting, this voting cut off time for CDI holders has now been extended to Thursday, November 5, 2020 at 7:00 pm (AEDT).The Company encourages all stockholders of record as at 5:00 p.m. on September 10, 2020 (Pacific Time) (being 10:00 a.m. on September 11, 2020 (AEDT)), whom have not yet voted, to do so by November 5, 2020 at 5:00 p.m. (Pacific Time) (being 8:00 p.m. on November 6, 2020 (AEDT)). Notwithstanding the foregoing, any votes properly received before the opening of the Adjourned Annual Meeting on November 9, 2020 will be accepted.Stockholders who have any questions or require any assistance with how to complete a proxy or CDI Voting Instruction Form or who do not have the required materials, may contact Okapi Partners by telephone (toll-free within North America) at (877) 629-6356 or (call collect outside North America) at (212) 297-0720 or by email at info@okapipartners.com.If the number of additional shares of common stock including shares of common stock underlying CDIs voted at the Adjourned Annual Meeting is not sufficient to achieve a quorum, the Company intends to adjourn the Annual Meeting again, which will require the Company to incur additional costs.Authorized for release by the Chief Executive Officer of AVITA Therapeutics, Inc.Important InformationThis material may be deemed to be solicitation material in respect of the Annual Meeting to be held on November 9, 2020 (Pacific Time) (being November 10, 2020 (AEDT)). In connection with the Annual Meeting, the Company filed a definitive proxy statement with the SEC on September 25, 2020. BEFORE MAKING ANY VOTING DECISIONS, STOCKHOLDERS AND CDI HOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC OR THE AUSTRALIAN SECURITIES EXCHANGE (“ASX”), BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE ANNUAL MEETING. The definitive proxy statement was mailed to stockholders and CDI holders entitled to vote at the Annual Meeting. No changes have been made to the proposals to be voted on by stockholders at the Annual Meeting. The Company’s proxy statement and any other materials filed by the Company with the SEC can be obtained free of charge at the SEC’s website at https://www.sec.gov/Archives/edgar/data/1762303/000119312520254171/d37466ddef14a.htm or on the Company’s website at www.avitamedical.com. The proxy statement and any other materials filed by the Company with the ASX can be obtained free of charge at the ASX’s website www.asx.com.au and also the Company’s website at www.avitamedical.com.ABOUT AVITA THERAPEUTICS, INC. AVITA Therapeutics is a regenerative medicine company with a technology platform positioned to address unmet medical needs in burns, chronic wounds, and aesthetics indications. AVITA Therapeutics’ patented and proprietary collection and application technology provides innovative treatment solutions derived from the regenerative properties of a patient’s own skin. The medical devices work by preparing a RES® REGENERATIVE EPIDERMAL SUSPENSION, an autologous suspension comprised of the patient’s skin cells necessary to regenerate natural healthy epidermis. This autologous suspension is then sprayed onto the areas of the patient requiring treatment.AVITA Therapeutics’ first U.S. product, the RECELL® System, was approved by the U.S. Food and Drug Administration (FDA) in September 2018. The RECELL System is indicated for use in the treatment of acute thermal burns in patients 18 years and older. The RECELL System is used to prepare Spray-On Skin™ Cells using a small amount of a patient’s own skin, providing a new way to treat severe burns, while significantly reducing the amount of donor skin required. The RECELL System is designed to be used at the point of care alone or in combination with autografts depending on the depth of the burn injury. Compelling data from randomized, controlled clinical trials conducted at major U.S. burn centers and real-world use in more than 8,000 patients globally, reinforce that the RECELL System is a significant advancement over the current standard of care for burn patients and offers benefits in clinical outcomes and cost savings. Healthcare professionals should read the INSTRUCTIONS FOR USE - RECELL® Autologous Cell Harvesting Device (https://recellsystem.com/) for a full description of indications for use and important safety information including contraindications, warnings and precautions.In international markets, our products are marketed under the RECELL System brand to promote skin healing in a wide range of applications including burns, chronic wounds and aesthetics. The RECELL System is TGA-registered in Australia and received CE-mark approval in Europe. To learn more, visit www.avitamedical.com.CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This letter includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “intend,” “could,” “may,” “will,” “believe,” “estimate,” “look forward,” “forecast,” “goal,” “target,” “project,” “continue,” “outlook,” “guidance,” “future,” other words of similar meaning and the use of future dates. Forward-looking statements in this letter include, but are not limited to, statements concerning, among other things, our ongoing clinical trials and product development activities, regulatory approval of our products, the potential for future growth in our business, and our ability to achieve our key strategic, operational and financial goal. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Each forward- looking statement contained in this letter is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the timing of regulatory approvals of our products; physician acceptance, endorsement, and use of our products; failure to achieve the anticipated benefits from approval of our products; the effect of regulatory actions; product liability claims; risks associated with international operations and expansion; and other business effects, including the effects of industry, economic or political conditions outside of the company’s control. Investors should not place considerable reliance on the forward-looking statements contained in this letter. Investors are encouraged to read our publicly available filings for a discussion of these and other risks and uncertainties. The forward-looking statements in this letter speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements.FOR FURTHER INFORMATION: U.S. Media Sam Brown, Inc. Christy Curran Phone +1 615 414 8668 christycurran@sambrown.com O.U.S Media Monsoon Communications Rudi Michelson Phone +61 (0)3 9620 3333 Mobile +61 (0)411 402 737 rudim@monsoon.com.au Investors Westwicke Partners Caroline Corner Phone +1 415 202 5678 caroline.corner@westwicke.com AVITA Therapeutics, Inc. David McIntyre Chief Financial Officer Phone +1 661 367 9178 dmcintyre@avitamedical.com
GlobeNewswire · 10/30 00:29
AVITA Therapeutics Announces First Patient Enrolled In Pivotal Study Evaluating RECELL System For Repigmentation Of Stable Vitiligo
AVITA Therapeutics, Inc. (NASDAQ:RCEL, ASX:AVH)))), a regenerative medicine company that is developing and commercializing a technology platform that enables point-of-care autologous skin restoration for multiple unmet
Benzinga · 09/14 12:06
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Analyst Rating

Based on 5 analysts

Strong Buy

Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.

Analyst Price Target
The average RCEL stock price target is 45.20 with a high estimate of 60.00 and a low estimate of 35.00.
EPS
Institutional Holdings
Institutions: 61
Institutional Holdings: 3.46M
% Owned: 16.00%
Shares Outstanding: 21.62M
TypeInstitutionsShares
Increased
10
43.12K
New
19
2.70M
Decreased
10
719.33K
Sold Out
0
0
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  • Dividend History
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Industry
Biotechnology & Medical Research
+2.74%
Pharmaceuticals & Medical Research
+0.82%
Key Executives
Non-Executive Chairman/Independent Director
Lou Panaccio
Chief Executive Officer/Executive Director
Michael Perry
Chief Financial Officer/Chief Accounting Officer
Sean Ekins
Chief Technology Officer
Andrew Quick
Chief Operating Officer
Troy Barring
General Counsel
Donna Shiroma
Other
Erin Liberto
Non-Executive Independent Director
Jeremy Cook
Vice President - Operations
Terry Bromley
Vice President - Operations
William Marshall
Non-Executive Independent Director
Suzanne Crowe
Vice President/Director of Sales/Director of Marketing
Ross Saunders
Non-Executive Independent Director
Louis Drapeau
General Manager
Lorraine Glover
Secretary
Gabriel Chiappini
Vice President/Director of Marketing
Debbie Garner
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About RCEL
AVITA Therapeutics, Inc. is a regenerative medicine company with a technology platform to address medical needs in burn injuries, trauma injuries, chronic wounds, and dermatological and aesthetics indications. Its technology provides treatment solutions derived from the regenerative properties of a patient’s own skin. The medical devices work by preparing Spray-On Skin Cells, an autologous cellular suspension comprised of the patient’s skin cells necessary to regenerate natural healthy epidermis. Its product, the RECELL System for the treatment of acute thermal burn injuries in patients 18 years and older. The RECELL System is used to prepare Spray-On Skin Cells using a small amount of a patient’s own skin, providing a way to treat severe burns that significantly reduces the amount of donor skin required. It is designed to be used at the point of care alone or in combination with split-thickness skin autografts depending on the depth of the burn injury.
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