Avita Therapeutics' stock surged 5.35% during intraday trading on Friday, following the announcement of key leadership changes at the company.
The medical technology firm appointed Cary Vance as its chief executive officer and Jan Stern Reed as chair of the board, both effective immediately. Vance had been serving as the interim CEO since October 2025, and the confirmation of his permanent role, alongside the appointment of a new chair, is viewed by the market as a move that brings stability and clear direction to the company's leadership.
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