By Dean Seal
Shares of Avita Medical soared after the company logged a smaller loss and slightly higher revenue in the third quarter than analysts had been expecting.
The stock was up 28% at $12.63 in premarket trading. Shares had already jumped 50% year-to-date when the market closed Thursday.
The regenerative medicine company posted a quarterly loss of $8.7 million, or 34 cents a share, compared with a loss of $5.6 million, or 22 cents a share, in the same quarter a year ago. Analysts polled by FactSet had been expecting a loss of 44 cents a share.
Revenue jumped to $13.6 million from $9.1 million, above analyst projections for $13.4 million, according to FactSet.
Write to Dean Seal at dean.seal@wsj.com
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