AVITA Medical Provides Preliminary Top Line Results for the Third Quarter and COVID-19 Update - Seite 2

Operating Update Related to the COVID-19 Pandemic

With governments launching unprecedented public-health and economic responses to the expanding COVID-19 pandemic, we provide the following overview of the operating measures that we have implemented in the communities in which we operate:

• Comprehensive work from home procedures, together with social distancing protocols, have been adopted across the majority of our organization.
• Employees are largely utilizing company supplied digital and audio means to support the ongoing needs of the business.
• Manufacturing continues with relevant protective measures to ensure continuity of supply of the RECELL System for patients suffering from acute thermal burns.
• Travel is limited to essential travel, meaning it is only permitted to the extent it is strictly required for patient safety or emergent case support.
• The broader business is tightly focused on existing activities pending the relaxation or cessation of movement and related social restrictions. In this context, the Company is managing expenses appropriately.

Developments in relation to COVID-19 are a day-by-day proposition that the Company monitors closely, and it will adapt its practices and policies in line with those changes. The Company provides the following information and guidance in relation to the potential impact of COVID-19 on its business:

• The Company is deeply committed to its employees and patients and is focused on ensuring that the RECELL System is continuously available, as needed.
  • The Company believes it has enough supplies of raw materials to support expected demand throughout the balance of this calendar year and has additional raw materials and access to service providers (i.e. sterilization) to support demand into 2021.
  • The Company does not presently expect any disruptions to its supply chain or distribution network.
  • To ensure continuity of supply, the Company has arranged for RECELL System inventory to be stored at various locations outside of our Ventura manufacturing facility.
    
    
• Burn procedures are not elective and cannot be deferred.
  • Severe burn patients face serious health complications requiring immediate treatment and hospitalization, including within intensive care units (ICUs).
  • The incidence of burn procedures is “lumpy” and subject to multiple extrinsic and unpredictable conditions. The onset of COVID-19 has not changed that dynamic.
  • Through the date of this report, there has been no substantial change in ordering habits of our hospitals.