Avita Medical Names Interim CEO, Reports Preliminary Q3 Revenue -- Shares Down Pre-Bell

MT Newswires Live

10/17

Avita Medical (RCEL) said late Thursday it named Chairman Cary Vance to the additional post of interim chief executive, effective immediately, replacing CEO Jim Corbett.

The company will consider internal and external candidates, including Vance, for the role of permanent CEO.

Avita Medical also said it expects preliminary Q3 revenue of around $17 million. Analysts surveyed by FactSet expect $19.2 million.

The company's shares were down nearly 20% in recent premarket activity Friday.

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