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Shares of Avita Medical (NASDAQ: RCEL) were up more than 16% early Thursday afternoon after the healthcare company got Food and Drug Administration (FDA) approval for a therapy to treat a skin disease. On Wednesday, after the markets closed, the company announced that the FDA approved Avita's supplement to use its Recell System to treat full-thickness skin defects, including wounds that stem from surgery or trauma. The approval was based on a clinical trial that the company completed in March.
>>> Read more: Why Shares of Avita Medical Are Soaring Thursday
>>> Read more: Why Shares of Avita Medical Are Soaring Thursday
