Just saw AVITA Medical made a pretty significant leadership change - Cary Vance stepped up as interim CEO replacing Jim Corbett who's out completely. Interesting move since Vance was already chairing the board, so now he's doing both roles at once. They're saying they'll search for a permanent CEO eventually, and Cary Vance is apparently in the mix too, which is kind of the standard play when you need continuity.

The company's Q3 numbers came in around $17M in revenue, and they had to get a waiver on some loan covenants with OrbiMed - that part caught my attention. Feels like they're navigating some financial tightness but trying to keep things steady with their lenders. Jan Stern Reed took over as lead independent director in the shuffle.

They're supposed to talk through all this on their earnings call in early November, and Cary Vance's team said they're reassessing their full-year guidance. Typical CEO transition stuff, but the covenant waiver situation makes you wonder what's really going on behind the scenes.