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AVH - AVITA Medical, Inc

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After a few months of share price decline and consolidation around 8c, AVH has started to turn north again and in the past few days has increased from 8.1c to a high of 10.5c today. It is currently trading at 10c.

The company announced yesterday that it has commenced the U.S. national market launch of the RECELL® Autologous Cell Harvesting Device for the treatment of acute thermal burns in patients 18 years and older. The U.S. sales team of Regenerative Tissue Specialists and Clinical Training Specialists that joined AVITA Medical in November 2018 has been trained and fully deployed across the U.S. in support of the nationwide launch of the RECELL System.

10c looks to be an area of resistance for AVH so it will be interesting to see if it can rise and consolidate above that level now that they have launched the RECELL System in the U.S.

 
Potential breakout for AVH? In the seven trading sessions since my last post in this thread AVH has been consolidating in a tight range between 10.5 and 11.5c and yesterday looked to be making a move north out of that range. Today it continued to advance and is currently trading at 12.5c. Recent volume would appear to indicate that there is some accumulation occurring.

All AVH needs now is a catalyst to send it through 14c and to a more than six year high. With RECELL currently launching in the U.S. I suspect there should be a reasonable amount of news flow this year, so I feel AVH has every chance of hitting new highs in the short term. One to watch.

 
AVH has staged a miraculous recovery over the last few months, and I only just noticed today.

It was added to the All Ordinaries in the March 2019 Quarterly Rebalance and the most recent Half Year Report showed increasing revenue ($1,813,195 vs. $607,761 in the prior corresponding period).

 
FDA approval in Sept last year and commercial marketing since January and so has the SP.
Looks promising for the long term if sales really pick up. Burnt patients hospital stay drastically reduced.
DYOR.

 
I hear that Avita has the possibility of a 5 year patent extensions on ReCell. If so, this could be significant in maintaining our IP.
 


An interesting consolidation happening over the last 7 bars.
 
I stopped watching this one after my post back in January ……. idiot
 
Reactions: rnr
Boggo said:
I hope you are still holding Zaxon.
Seems I was a bit later to the party than you on this but it just keeps on going.
Click to expand...
I am indeed! Hopefully there's still enough growth left for both of us.
 
AVH looks like it's forming a double top in the early 70s. Has its almost 3 month bullish run reached a conclusion for now?

It's been a good run, but it may now be time for some consolidation or a pullback.

 
greggles said:
AVH looks like it's forming a double top in the early 70s. Has its almost 3 month bullish run reached a conclusion for now?

It's been a good run, but it may now be time for some consolidation or a pullback.
Click to expand...

Greg, I can't see a double top forming on my various charts. I have had these since the breakout at 46.5 and still quite comfortable with them as a growth stock. Usually a double top becomes evident in P&F charts but the pattern appears to be my favourite stock standard symmetrical growth cycle with the consolidation rests shown. As always, time will tell.

 

Looks like we're headed down in the short term. AVH has gone into a trading halt this morning "in order to finalise arrangements around a potential capital raise, which the Company is not in a position to announce to the market at present."

AVH expect to commence trading again on Wednesday morning following the announcement but will probably decline a little as a result of the cap raise. It will be interesting to see what price they get it away at.
 
AVH has had a remarkable run up this year, though lately it's range bound. I'm hoping for a breakout soon.
 
Avita Medical is a regenerative medicine company with technology that addresses therapeutic skin restoration. Its RECELL system provides spray on skin therapy used to treat burn wounds. It is also being assessed for use in the treatment of vitiligo, traumatic wounds, scar reconstruction, and for dermatological aesthetic applications.

Avita Medical reported total product sales of $5.9 million during the March quarter, up from $2.3 million in the March 2019 quarter. For the 9 months ending 31 March, Avita Medical recorded $15.6 million in product sales, well above the $4.2 million in sales recorded in the 9 months to March 2019.

 
AVH is redomiciling to the US Nasdaq market (RCEL).

Scheme already announced to be voted by shareholders 15 June 2020.

AVH ASX shareholders will be transferred to Avita-US CDIs that will be traded on the ASX exchange.

If you hold AVH shares you will have been notified of the scheme.
 

Is this a good or bad thing for local ASX shareholders ?
 
AVH will be a US based company not an Aust based company. ASX share holders will be holding AVH-CDIs. Re-domiciling will save costs of preparing reports for two exchanges. It should be a good thing for the company as it will give it more exposure to it's main (only) market, US. Importantly this means it may be easier to attract more investment capital.

They're hoping that it will be easier to increase exposure and demand for their company.
 

Thanks for the detailed explanation Peter. I have had some confusion about that CDI structure of other shares as well that appear on our exchange.
 
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