NasdaqCM:RCELBiotechs
AVITA Medical (RCEL) Is Down 22.4% After CEO Departure and Revenue Guidance Cut—Has the Thesis Changed?
Earlier this week, AVITA Medical appointed Chairman Cary Vance as Interim CEO following the departure of Jim Corbett and released preliminary third-quarter revenue guidance of approximately US$17 million, while also securing a waiver on its revenue covenant from OrbiMed and initiating a search for a permanent CEO.
This leadership transition and concurrent financial updates come as AVITA continues to address operational and reimbursement challenges in its core wound care markets.
We will...