AVITA Medical jumps on FDA nod for co's skin defects treatment device

AVITA Medical

08/06/2023 02:25

** ASX-listed shares of U.S.-based AVITA Medical Inc
 RCEL.O   AVH.AX  jump as much as 19.8% to A$5.140, their
highest since Nov 8, 2021
    ** The regenerative medicine co announces U.S. Food and Drug
Administration (FDA) approval of its RECELL system for treatment
of full-thickness skin defects
    ** RECELL system is an autologous cell harvesting device
that prepares, produces, and delivers a regenerative cell
suspension using a small amount of a patient's own skin
    ** Stock posts its biggest intraday pct gain since Feb 24
    ** More than 657,145 shares change hands, twice the 30-day
average volume 
    ** AVITA stock more than doubled this year, as of last close


 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))