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AVITA MEDICAL LTD (AVH)

AVITA MEDICAL LTD (AVH)

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General Information
Company Name: Avita Medical Ltd
Stock Code: AVH
Website: www.avitamedical.com
GICS Sub-Industry: Biotechnology
Market Cap ($M): 55
Equiv. Shares (M): 238

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
$ 0.230 $ 0.230 $ 0.240 $ 0.230 $ 0.230 45,658 0%

Company Overview

Business Description:
Avita Medical Ltd (AVH) is a medical technology company that develops and distributes regenerative and tissue-engineered products for the treatment of wounds, scars and skin defects. The company's products comprise regenerative medicine products (ReCell Autologous Spray-On-Skin) and respiratory products (Breath-A-Tech and Funhaler Paediatric Incentive Spacer).

Strategy Analysis:
CCE has developed a number of proprietary products that can be used to treat skin disorders. The products use small samples of patient skin to grow new cells in a solution that can be reapplied to speed up the natural healing process. For severe burns this can be a life saving technology to reduce scarring while also providing plastic surgeons with a tool to replace skin. The lead products are CellSpray, a suspension containing cultured skin cells from the patient for use in the treatment of major burns and scars. ReCell a device that enables the collection of healthy skin cells for immediate application on damaged skin such as small burns, areas of pigment loss and scars. CCE has CE mark approval for ReCell and CellSpray. This means that product can now be marketed and sold across Europe. Management is focused on taking its products to the global market and generating substantial sales growth.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2011  A -4.0 -3.5 -- 0.0 0.0 0.0 --
2010  A -2.8 -2.6 -- 0.0 0.0 0.0 --
2009  A -5.1 -5.5 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F
Avita Medical (AVH) $55 M -- -- -- -- -- -- 0.0000 -- --
CSL (CSL) $19,341 M 0.0602 0.0718 0.1564 21.7742 20.3160 17.5683 0.0212 0.0226 0.0247
Mesoblast (MSB) $1,895 M -- -- -- -- 512.3077 -- 0.0000 0.0000 0.0000
Phosphagenics (POH) $179 M -- -- -- 134.6154 -- -- 0.0000 0.0000 0.0000
Starpharma (SPL) $439 M -- -- -- -- -- -- 0.0000 0.0000 0.0000

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
AVH -- -- 3.41 -- 7.21
Market 1.12 11.1 0.96 2.31 2.55
Sector 0.95 22.0 2.13 7.54 10.31

Directors
Name Position Start Date
Dr William Dolphin Chief Executive Officer,Managing Director 05 March 2008
Mr Dalton Leslie Gooding Non-Executive Chairman 14 November 2002
Mr Ian Keith Macpherson Non-Executive Deputy Chairman 05 March 2008
Dr Paul Michael Watt Non-Executive Director 05 March 2008
Ms Fiona Melanie Wood Non-Executive Director 11 April 2006

Management
Name Position
Gabriel Chiappini Company Secretary
Lorraine Glover General Manager - Asia Pacific
Tiziano Caldera General Manager - Europe Middle East Africa
William Marshall Vice President Operations
Andrew Quick Vice President Research & Technology

Substantial Shareholders
Holding Name
30,268,251 (12.71%) National Nominees (Australian Ethical Equities Trust)

Calendar of Events
Date Event
27 February 2013 Report (Interim)
23 October 2012 Report (Annual)
29 August 2012 Report (Prelim)
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