Avita Medical's Asx Shares Drop To 3: month low on revenue forecast downgrade

AVITA Medical

11/04/2024 02:05

** ASX-listed shares of AVITA Medical Inc  AVH.AX  fall as
much as 16.2% to A$3.770, their lowest since Jan 8
    ** Stock set for worst day since Oct 3, if losses hold
    ** Co expects March-qtr commercial revenue between $11 mln
and $11.3 mln, lower than previous forecast of $14.8 mln to
$15.6 mln
    ** Says the downward revision due to slower-than-expected
conversion rate of new accounts for expanded label of
full-thickness skin defects
    ** AVH top loser on ASX All Ordinaries index  .AORD 
    ** As of last close, stock up 4.9% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))