Avita Medical Cuts Annual Sales Forecast On Softer Demand From Hospitals

On Tuesday, Avita Medical, Inc. RCEL revised its revenue guidance for the fourth quarter and full year of 2024.The regenerative medicine company adjusted its projections due to slower-than-expected purchasing by hospital accounts.Avita, which specializes in wound care and skin restoration, anticipates fourth-quarter commercial revenue of approximately $18.4 million. It reflects a 30% year-over-year increase. However, this is below its earlier guidance of $22.3 million to $24.3 million and consensus of $23.1 ...