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Thanks for the update.
I had sold 40% at 11 before RS. Gave me a nice profit and a lot of free shares. The other 60% was in a cash account and would have had to drop 40% to make it work tax wise. Covid took care of that. Bought back the 20k shares I sold near last years bottom so I'm pretty happy. Think a trading op is coming up with Q2 report. Going to look a lot like last Q. New CEO needs to do a better job with market guidance. But still see even better days ahead.
Wonder where tdeck wandered off to.
Wonder where tdeck wandered off to.
Yep he likely was. Was planning on driving down and having a beer with him. Sorry it never happened. Seemed like a very decent human being.
Fund buying. Avita was added back to the Russell 3000 Index.
It's a new shelf offering to replace the identical shelf offering put in place in 2nd Q 2020 which expires shortly. Shelf offerings have to be replaced every 3 years by SEC rule. They are there to provide shares in the event they do decide to do an equity offering which requires a proxy filing at that time. They can also be used to issue shares for employee and officer share based compensation plans. Virtually every public company has shelf shares. They don't add any capital to company coffers in and of themselves. Once again, the last equity raise was in early 2020, none since. Shelf shares merely give them the ability to do an equity raise when and if they choose.
Not sure why people find this to be such a difficult concept but many do, it's not just you.
Suggest googling " shelf offering ".
Last equity raise was in early 2021 of which they still had $77M as of end Q1 2023. No equity raise needed again unless they decide to raise H2 2024 for vitiligo and global effort. They're in good shape financially.
So with the approval of Recell and the JAK inhibitor for vitiligo suddenly 6 million people in this country would be eligible for treatment. If only 5% of those get treated it will represent an almost $2 billion new income stream for Avita. And that's not pie in the sky, this will happen for Recell next year and a similar time frame for the JAK inhibitor.
Honestly Renovacare was never going to be a competitor, their CEO is a bona-fide crook. It's finally showing up in multiple shareholder lawsuits. Lawyers might make some money.
New corporate deck out on ASX Australia, should be out here before open. Shows 61% Y/Y growth from Q1 2021 to Q1 2022 and 8% growth over last quarter of 7.446 million from 6.9 million.
20 million total cash burn for the year which is actually exceptional for a year that saw 3 FDA clinical trials and the rollout of a new product during a pandemic.
Might be a good time to put a toe in.
It's posted on the company website under Investors/Events/More Events. Highly recommend listening, answers many of the questions people are asking. I'd at a minimum listen from minute 32 on.
Over 50% of the market cap is cash and cash equivalents. Go figure.
Agree, couldn't have said it better myself.
Just saw an article on Bloomberg saying 40% of stocks listed on NASDAQ are down 50% or more. This has been a very narrow market.
Should read "4-8% higher"
A close of 12.43 would put us at par with the AVH close in Australia. AVH has been trading 4-8% than RCEL for several days now.
Nevermind, no quorum, postponed until December 22nd.
If anyone attended the virtual ASM I'd appreciate a short summary, couldn't make it due to dental appointment.
$7 fair value per share of AVH. 5 AVH shares per CDI equals 1 share of RCEL. What Pete posted is correct, US equivalent around $25 per share of RCEL.
Finally got a buyer at the close today. With the thin volume we've seen all the way down from around 19.60 won't take very heavy volume to move this either way.
Down almost 40c on less than 2k shares. Just no buyers. Hope Perry and the CFO are on the phone with major holders. You are right about small biotech, many are down 40-60% from their highs.
Pretty much low volume retail
...so far. Once again, problem isn't sellers as much as lack of buyers.
If they really want to send a message to investors the officers and directors of Avita should buy some shares in the open market.
Yep, the dual listing here and in Australia gets a bit confusing at times.Bell Potter covers them in Australia and has handled their capital raises there in the past.
That's for AVH, $33 equivalent for RCEL
Initially Recell was approved for burns less than 50% Total Body Surface Area for patients older than 16 requiring hospital stays. The FDA labeling change earlier this year expanded use to pediatric patients older than six months and burns above 50% TBSA. So all burns for all hospitalized patients. Reimbursement for these procedures has been covered by private insurance and Medicare. This change will now include reimbursement by Medicare for outpatient burns where the patient is treated at the hospital or clinic and then released with follow up visits at a doctor's office. Hope that helps.
Covid put this stock in the penalty box and in such a narrow market it dropped off the radar. The label expansion earlier this year was big news and the market yawned. With this latest expansion, Japan and vitiligo enrollment completion the story here will be harder to ignore. People can complain about this management team as much as they like, but so far they have delivered on everything they set out to do.
Already retired early. Why do people assume other people aren't able to trade stocks.
Go back to sleep. You can't list a penny stock on NASDAQ, which was why they had no choice but doing a reverse split. Had they simply moved it over from Australia as it was they would have had an .80c share with over 2 billion shares outstanding. Not your normal RS.
The drop was due to Avita being removed from the ASX 300 index in Australia. Evidently some index fund managers waited to dump their shares at the last minute. Meanwhile here in the states the stock closed last Friday at @18.60, about 1.60 above the equivalent price in Australia. Some smart cookie used it adroitly as an arbitrage play buying RCEL October 15 puts at 17.50. Those positions were well in the money at Monday's closing and have been closed for a quick profit. Miraculously the short positions in Australia have also been closed. So that game appears to be over.
You might want to look into Australian tax law concerning tax on exercised options. Here the tax isn't due until the underlying shares are actually sold. There tax is due on the entire amount when the option is exercised, huge difference.
We are all animals, some just smarter than others. Sometimes hard to figure out which is which.
Liked the volume at end of day.
It's been ignored during covid. The relabelling by the FDA was really big yet unnoticed it would seem. I have really been impressed their dealings with the FDA, most small cap pharmas aren't this good at it. It really was a no BS call yesterday. Each speaker gave a solid presentation and had in depth answers to every question. Very impressive.
One of the best conference calls I've ever listened to. These guys have a business plan and are working it.
It's been hard to watch, but our problem hasn't been sellers as much as it's been a lack of buyers. Institutional holdings are 35%, about where it was at the beginning of Covid. Blackcrane sold a large portion of their shares, Redmile sold some, but Vanguard has increased it's stake and Blackrock became the largest holder thus past quarter. Being in the same stock as Blackrock is rarely a bad idea.
Covid hurt the rollout and made the timing on the redomicile horrible. With Delta we are still in the Covid penalty box. This will pass.
But recent developments make my opinion on the future even stronger. The fact that it took only 5 months for the FDA to approve the relabelling says volumes about how the FDA views this product. They don't do anything in 5 months. It wouldn't surprise me if they get another label change for traumatic wounds by sometime late next year or early 2023 as more practitioners use it off label.
And there are several other pokers in the fire.
I still believe the future is bright.
But then my opinion and 3 bucks will get you a cup of coffee at Starbucks.
TAM is Total Addressable Market, SAM is the portion of TAM you believe you will reasonably achieve, Serviceable Addressable Market. CSM is the governing body that will be issuing the pass through payment code.
Aussies not Austins.
Evidently today is the last day of the fiscal year in Australia. Hopefully the Austin's will take their foot off our throat after tax loss selling. Fingers crossed ??
Thanks for the heads-up, would explain the large volume at close.
Would be OK by me