Avita Medical (ASX:AVH) share price sinks to 52-week low despite ‘pivotal’ trial update

Shares in the medical company are down today, despite a positive update
The post Avita Medical (ASX:AVH) share price sinks to 52-week low despite ‘pivotal’ trial update appeared first on The Motley Fool Australia. –

The AVITA Medical Inc (ASX: AVH) share price has dropped to a 52-week low today despite news that the medical producer has entered its RECELL System product into a trial.

Today’s slide comes off the back of a 2.78% fall yesterday after the medical company announced it had adjourned its AGM without any business discussions due to a lack of numbers to proceed.

At the time of writing, the Avita share price is down 2.29% trading at $3.42 apiece. Let’s take a closer look at the latest news.

Trial results to be revealed next year

In today’s release, Avita advised it was starting a trial for its RECELL System for the regimentation of stable vitiligo.

If found successful, the product could be used in the treatment of the skin condition, which affects at least 2% of the global population, according to the company.

Up until now, the RECELL System had been only pointed for use in the United States, toward the treatment of acute thermal burns.

However, as vitiligo is incurable and has no current FDA-approved options, Avita hopes the product may assist those living with the skin disease.

CEO Dr Mike Perry said Avita expected topline data to be returned from the trial next year. 

Recruitment of the last patient in this blinded, randomised pivotal trial is a significant milestone and lays the groundwork for regulatory approval and commercialisation of the RECELL System in 2023 for use in patients with stable vitiligo.

Avita share price snapshot 

The Avita share price has seen a steep decline, dropping 28.5% over the past 12 months. Shares in the company are down 32.6% this year to date.

Based on today’s share price, the company has a market capitalisation of more than $231 million.

The post Avita Medical (ASX:AVH) share price sinks to 52-week low despite ‘pivotal’ trial update appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Down 22% in a month: Why is the Avita Medical (ASX:AVH) share price sliding again today?

Why has the Avita Medical (ASX:AVH) share price just hit a 2-year low?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Avita Medical Limited. The Motley Fool Australia has recommended Avita Medical Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!