AVITA Medical Announces Inclusion in the Russell 3000 Index
June 29 2021 - 4:23PM
AVITA Medical, Inc. (NASDAQ: RCEL, ASX: AVH), a regenerative
medicine company that is developing and commercializing a
technology platform that enables point-of-care autologous skin
restoration for multiple unmet needs, today announced that as part
of the annual reconstitution of the Russell stock indexes, AVITA
Medical has been added to the Russell 3000® Index effective June
28, 2021.
The annual Russell indexes reconstitution process captures the
4,000 largest US stocks in May of every year, ranking them by total
market capitalization. AVITA Medical’s membership in the US all-cap
Russell 3000® Index, which remains in place for one year, will
result in automatic inclusion in the small-cap Russell 2000 Index,
as well as the appropriate growth and value style indexes. FTSE
Russell determines membership for its Russell indexes primarily by
objective, market-capitalization rankings and style attributes.
“We are excited to have been included in the Russell 3000® Index
as part of the annual reconstitution,” said Michael Holder, Chief
Financial Officer of AVITA Medical. “We look forward to
capitalizing on this opportunity to broaden our stockholder
base.”
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $10.6 trillion in
assets are benchmarked against Russell’s US indexes. Russell
indexes are part of FTSE Russell, a leading global index
provider.
For more information on the Russell 3000® Index and the Russell
indexes reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
ABOUT AVITA MEDICAL, INC.AVITA
Medical is a regenerative medicine company with a technology
platform positioned to address unmet medical needs in burns,
chronic wounds, and aesthetics indications. AVITA Medical’s
patented and proprietary collection and application technology
provides innovative treatment solutions derived from the
regenerative properties of a patient’s own skin. The medical
devices work by preparing a RES® REGENERATIVE EPIDERMAL
SUSPENSION, an autologous suspension comprised of the patient’s
skin cells necessary to regenerate natural healthy epidermis. This
autologous suspension is then sprayed onto the areas of the patient
requiring treatment.
AVITA Medical’s first U.S. product, the RECELL® System, was
approved by the U.S. Food and Drug Administration (FDA) in
September 2018. The RECELL System is indicated for use in the
treatment of acute thermal burns. The RECELL System is used to
prepare Spray-On Skin™ Cells using a small amount of a patient’s
own skin, providing a new way to treat severe burns, while
significantly reducing the amount of donor skin required. The
RECELL System is designed to be used at the point of care alone or
in combination with autografts depending on the depth of the burn
injury. Compelling data from randomized, controlled clinical trials
conducted at major U.S. burn centers and real-world use in more
than 10,000 patients globally reinforce that the RECELL System is a
significant advancement over the current standard of care for burn
patients and offers benefits in clinical outcomes and cost savings.
Healthcare professionals should read the INSTRUCTIONS FOR USE -
RECELL® Autologous Cell Harvesting Device
(https://recellsystem.com/) for a full description of indications
for use and important safety information including
contraindications, warnings, and precautions.
In international markets, our products are marketed under the
RECELL System brand to promote skin healing in a wide range of
applications including burns, chronic wounds, and aesthetics. The
RECELL System is TGA-registered in Australia and received CE-mark
approval in Europe. To learn more, visit www.avitamedical.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTSThis letter includes forward-looking statements.
These forward-looking statements generally can be identified by the
use of words such as “anticipate,” “expect,” “intend,” “could,”
“may,” “will,” “believe,” “estimate,” “look forward,” “forecast,”
“goal,” “target,” “project,” “continue,” “outlook,” “guidance,”
“future,” other words of similar meaning and the use of future
dates. Forward-looking statements in this letter include, but are
not limited to, statements concerning, among other things, our
ongoing clinical trials and product development activities,
regulatory approval of our products, the potential for future
growth in our business, and our ability to achieve our key
strategic, operational and financial goal. Forward-looking
statements by their nature address matters that are, to different
degrees, uncertain. Each forward-looking statement contained in
this letter is subject to risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
by such statement. Applicable risks and uncertainties include,
among others, the timing of regulatory approvals of our products;
physician acceptance, endorsement, and use of our products; failure
to achieve the anticipated benefits from approval of our products;
the effect of regulatory actions; product liability claims; risks
associated with international operations and expansion; and other
business effects, including the effects of industry, economic or
political conditions outside of the company’s control. Investors
should not place considerable reliance on the forward-looking
statements contained in this letter. Investors are encouraged to
read our publicly available filings for a discussion of these and
other risks and uncertainties. The forward-looking statements in
this letter speak only as of the date of this release, and we
undertake no obligation to update or revise any of these
statements.
This press release was authorized by the review committee of
AVITA Medical, Inc.
FOR FURTHER INFORMATION:
U.S. MediaSam Brown, Inc.Christy CurranPhone
+1-615-414-8668christycurran@sambrown.comO.U.S.
MediaRudi Michelson Phone +61 (0)3 9620 3333 Mobile +61
(0)411 402 737 rudim@monsoon.com.au |
InvestorsWestwicke PartnersCaroline CornerPhone
+1-415-202-5678 caroline.corner@westwicke.com |
Avita Medical (NASDAQ:RCEL)
Historical Stock Chart
From Sep 2024 to Oct 2024
Avita Medical (NASDAQ:RCEL)
Historical Stock Chart
From Oct 2023 to Oct 2024