{"id":1240,"date":"2023-11-10T01:41:08","date_gmt":"2023-11-10T01:41:08","guid":{"rendered":"https:\/\/economicherald.net\/?p=1240"},"modified":"2023-11-10T01:41:08","modified_gmt":"2023-11-10T01:41:08","slug":"asx-health-stocks-avita-flies-as-high-as-24pc-after-providing-a-big-bullish-guidance","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=1240","title":{"rendered":"ASX Health Stocks: AVITA flies as high as 24pc after providing a big, bullish guidance"},"content":{"rendered":"

AVITA jumps after providing bullish guidance
\nAnatara up after holding AGM this morning
\nImugene doses first patient in its Phase 1b clinical trial using\u00a0azer-cel<\/p>\n

\u00a0<\/p>\n

AVITA up on bullish sales forecast<\/h2>\n

Regenerative medicine biotech, AVITA Medical (ASX:AVH)<\/a><\/strong> jumped 24% this morning after providing a bullish guidance for Q4 FY23.<\/p>\n

AVITA said its commercial revenue for Q4 will come in between $15.3 to $16.3 million, reflecting a big lower bound of 64% and upper bound of 73% growth over the pcp.<\/p>\n

For the full year FY23, revenue is expected to be in the range of $51 to $53 million, reflecting a lower bound of 50% and upper bound of 56% growth over the pcp.<\/p>\n

Gross margin for the full year is expected to be in the range of 83% to 85%.<\/p>\n

AVITA\u2019s flagship product is the RECELL System<\/strong>, a technology platform approved by the FDA for the treatment of thermal burn wounds, and for repigmentation of skin cells harnessed from the patient\u2019s own skin.<\/p>\n

Using the RECELL device, a clinician prepares and delivers autologous skin cells from pigmented skin to stable depigmented areas, offering a safe and effective treatment for vitiligo.<\/p>\n

AVITA said it\u2019s well funded after securing a debt financing facility for up to $90 million in October.<\/p>\n

Together with the cash on hand of $60.1 million as of September 30, the company believes it has sufficient capital to meet its goals and to reach profitability during 2025.<\/p>\n

\u00a0<\/p>\n

Anatara rises after AGM<\/h2>\n

Gastrointestinal-focused biotech, Anatara Lifesciences (ASX:ANR)<\/a><\/strong>, also jumped 15% after holding its AGM this morning.<\/p>\n

Exec chair Dr David Brookes<\/strong> told shareholders the recent company news flow has been dominated by the completion of Stage 1 of the GaRP-IBS trial.<\/strong><\/p>\n

\u201cAs you are aware from the ASX updates, the results were considered very encouraging and the interim analysis of Stage 1 successfully met all the intended objectives,\u201d Brookes said.<\/p>\n

Anatara\u2019s GaRP product is a microbiome-targeted medicine that has been designed to address the primary underlying factors associated with chronic gastrointestinal conditions such as irritable bowel syndrome (IBS) and inflammatory bowel disease (IBD).<\/p>\n

\u201cThe immediate project for advancement is our Gastrointestinal ReProgramming to become a product for wide-ranging indications via the completion of the IBS trial,\u201d said Brookes.<\/p>\n

\u00a0<\/p>\n

Imugene\u2019s Phase 1b clinical trial using azer-cel<\/h2>\n

Meanwhile, Imugene (ASX:IMU)<\/a> <\/strong>rose 15% this morning after dosing of the first patient in its Phase 1b clinical trial using Azer-cel <\/strong>(an allogeneic off-the-shelf CD19 CAR T, a type of cell therapy).<\/p>\n

Azer-cel is currently being studied in an ongoing multi-centre Phase 1b CAR T clinical trial in patients with blood cancer called non-Hodgkin\u2019s lymphoma (NHL)<\/strong>.<\/p>\n

This Phase 1b trial is a precursor to a Phase 2 registrational trial (subject to FDA agreement) in 2024.<\/p>\n

The Azer-cel clinical drug is being supplied from Imugene\u2019s state-of-the-art manufacturing facility in North Carolina.<\/p>\n

\u201cIt is a great credit to our team that the Phase 1b study has been initiated and the first patient dosed, in under three months since acquiring the technology,\u201d said Imugene CEO, Leslie Chong.<\/p>\n

\u00a0<\/p>\n

Share prices today:<\/h2>\n\n

\ufeff<\/span><\/span>\u00a0
\n<\/span><\/p>\n

The post ASX Health Stocks: AVITA flies as high as 24pc after providing a big, bullish guidance<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

AVITA jumps after providing bullish guidance Anatara up after holding AGM this morning Imugene doses first patient in its Phase 1b clinical trial using\u00a0azer-cel \u00a0 [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":1241,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Health Stocks: AVITA flies as high as 24pc after providing a big, bullish guidance - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=1240\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Health Stocks: AVITA flies as high as 24pc after providing a big, bullish guidance - 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