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Gefunden in Hotcopper Adoption Rate Continues to Grow Less than 6 months into its launch in the United States, the commercialisation of ReCell continues to gather momentum at a faster rate than we had anticipated. There are now 98 hospitals in the US either ordering or in evaluation of the Recell kits. This represents approximately 70% of the specialist burns units in the country. By the end of the year we expect the vast majority of these will have ordered product. The recent American Burns Association Conference featured ten presentations sponsored by Avita including a summary of the health economics for hospitals using ReCell compared to the standard of care (SOC). The paper confirmed significant savings to hospital operators in the treatment of burns patients. The savings are estimated at between 14% to 17% per patient (across all burn sizes), with savings increased for more severe burns requiring longer stays in hospital. This data is compelling for value analysis committees and more than justifies the US$7,500 list price for the ReCell kit. The major savings come from reduced volume of surgical procedures per patient, reduced length of stay and reduced rehabilitation costs. Finally, the company’s clinical program is advancing. A recent interim analysis of Recell use in a paediatric population was awarded ‘Best Of The Best Abstract’ at the American Burns Association Conference. In the study of 107 burn injuries, 98% achieved closure within 4 weeks of treatment. This data is likely to be included in the data dossier to extend the label claim for Recell to include children. The company will begin enrolling patients in additional paediatric studies later this year. Upgrade to Buy, Valuation raised to $0.68 The commercialisation of Recell is progressing well in the US and consequently we have upgraded our unit sales forecast for FY21. We have also extended our discounted cash flow model to 9 years. Valuation in raised to $$0.68 from $0.38 and we upgrade our recommendation to Buy Speculative (from Hold) Each account represents an individual hospital rather than a health care system or group. The company had previously signalled its intention to target Burn Centres, hence it is not unreasonable to assume most of the target accounts will specialise in the treatment of burns. Collectively there are 98 hospitals across all three categories representing 70% of the 134 specialist burns centres in the US. The vast majority of accounts in the ‘prospecting’ stage are expected to proceed to Value Analysis Committee (VAC). We note a total of 45 burn accounts (including 106 burn surgeons) have been trained relative to the 28 active accounts (i.e. ordering product). The difference between the number of accounts trained vs ordering is most likely because 17 of the hospitals that have received training are at Value Analysis Committee – i.e. normally surgeons have to be trained in the use of the product and gain experience with its use prior to proposing a new device to the VAC. The key take out being that interest in the use of the ReCell system continues to grow. These statistics are supportive of expectations for future sales growth. For surgeons, the key driver of use is the patient outcome. Early results from first commercial use continue to reflect the experience of users in the compassionate use program which operated in the US prior to product approval. Avita Medical sold approximately 224 recell kits for the March quarter to approximately 20 accounts. Prior to the official launch (Jan 2019) approximately 100 units has been sold in the December quarter. It seems reasonably clear that interest continues to swell. We do not expect there is any significant stockpiling by hospital users, hence we are optimistic that the volume of sales in the June quarter should grow by at least 50% (i.e. ~330 unit sales in the June 2019 quarter). The company has not provided revenue guidance. Find out how this one stock is combining the security and retail market. InvestorsHub NewsWire Promoted Yield Growth Announces Licensing Agreement for $1 Million Consideration for U.S. Rights to 56 White Label Formulations May 30, 2019 1:32 PM Stocks to Watch as Oil & Gas Prices Stabilize • CXO • May 30, 2019 9:47 AM Integrated Ventures Restarts Purchasing Mining Equipment From Bitmain Technologies As Bitcoin Pricing Approaches $9,000 • INTV • May 30, 2019 9:30 AM ZVTK - Zevotek Announces Analyst Report Recommending Target $0.77 PPS Published By Goldman Small Cap Research • ZVTK • May 30, 2019 9:29 |
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| aus der Diskussion: | Avita Medical |
| Autor (Datum des Eintrages): | ODI01 (30.05.19 16:07:43) |
| Beitrag: | 55 von 396 (ID:60699506) |
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