Avita Medical shares are trading lower after the company announced it received notice from the FDA that additional information regarding the premarket approval supplement application is required for the continuation of a substantive review.
Portfolio Pulse from Benzinga Newsdesk
Avita Medical has received a notice from the FDA requiring additional information for the continuation of a substantive review of its premarket approval supplement application. This has led to a decrease in the company's share price.
October 02, 2023 | 6:03 pm
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NEGATIVE IMPACT
Avita Medical's stock price is expected to be negatively impacted in the short term due to the FDA's request for additional information.
The FDA's request for additional information indicates potential issues with Avita Medical's premarket approval supplement application. This uncertainty can lead to a decrease in investor confidence, negatively impacting the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100