How do Avita Medical (ASX:AVH) shares stack up against Polynovo and Aroa Biosurgery?

ASX mid-cap healthcare company Avita Medical Inc (ASX: AVH) released its second-quarter FY21 results to the market last week. Despite recording positive revenue numbers, the Avita share price has continued to slide lower over the last five days. At their current price of $6.40, Avita shares are now more than 30% below their 52-week high price of $9.58.

What does Avita do?

Avita is one of a number of biotech companies currently trading on the ASX specialising in skin tissue repair, particularly relating to serious burns or other traumatic injuries. Its competitors in this space include Polynovo Ltd (ASX: PNV) and New Zealand-based Aroa Biosurgery Ltd (ASX: ARX).

Avita’s flagship technology, its RECELL System, uses a sample of the…