The Avita Therapeutics Inc (ASX:AVH) share price is charging higher on Monday. Here’s why the Avita share price is on the rise…
The post Why the Avita (ASX:AVH) share price is charging higher today appeared first on Motley Fool Australia. –
The Avita Therapeutics Inc (ASX: AVH) share price has started the week in a positive fashion.
The regenerative medicine company’s shares are up over 3% to $7.43 in afternoon trade.
Why is the Avita share price charging higher?
The catalyst for today’s gain has been the release of an update on its pivotal study assessing the use of the RECELL System to treat stable vitiligo.
The RECELL System is currently used to prepare Spray-On Skin Cells using a small amount of a patient’s own skin. This provides a new way to treat severe burns, while significantly reducing the amount of donor skin required.
Avita is aiming to extend its use to treat other unmet medical needs and took a step forward to doing so today. This morning the company announced the initiation of the pivotal vitiligo study following the enrolment of the first patient at the Miami Dermatology and Laser Institute in Florida, United States.
This study will evaluate the safety and effectiveness of the RECELL System to repigment skin in patients who have vitiligo that has been stable for at least one year.
Vitiligo is an autoimmune disease that attacks the epidermis layer of skin. This results in loss of colour or pigmentation. This serious skin condition affects up to 2% of the global population, including an estimated 6.5 million Americans.
There is currently no cure for vitiligo, nor a universally accepted method for limiting the spread of the disease. And while many treatments are being used for its management, they are often temporary with a high rate of recurrence.
The company’s CEO, Dr Mike Perry, believes the initiation of the vitiligo clinical study is a milestone in advancing its pipeline to leverage the utility and full potential of the innovative RECELL technology platform to address unmet medical needs in dermatological applications.
Dr Perry commented: “Globally, there have been several published case series and pilot randomized clinical trials reporting positive results with the use of RECELL for treating patients with stable vitiligo and repigmenting depigmented skin lesions. We are pleased to initiate this pivotal study as a next step toward offering a treatment option for the millions of Americans who live with vitiligo.”
The Medical Director of Miami Dermatology and Laser Institute, Jill Waibel, MD, spoke positively about the RECELL System’s potential.
Waibel said: “While often considered a cosmetic issue, vitiligo can greatly impact the quality of life of those living with the disease, and treatment options are limited. We look forward to assessing the safety and efficacy of the RECELL System in restoring skin colour in stable vitiligo lesions and potentially offering those who live with vitiligo hope with a new, easy in-office treatment.”
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Avita Medical Limited. The Motley Fool Australia has recommended Avita Medical Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.