BUZZ-Australia-listed shares of AVITA Medical slump on forecast cut

Reuters01-08 12:34

* ASX-listed shares of AVITA Medical AVH.AX RCEL.O fall as much as 20.2% to A$3.470

** Stock last down about 18.8%, set for deepest one-day decline since Oct 2023

** Regenerative medicine firm cuts forecast for the fourth time in five quarters

** Says it expects Q4 commercial revenue of about $18.4 mln, compared to its prior guidance range of $22.3 mln to $24.3 mln

** Stock hits lowest price level since mid-Nov

** About 2 mln shares change hands, highest since mid-Aug 2022

** Stock fell 0.9% in 2024

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((Jasmeenaraislam.shaikh@thomsonreuters.com))

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