Hey mate, good question.
Have a look at the document released on 15 October 2019 "Filing of Foreign Documents".
Look towards the bottom of page 38:
"The U.S. patents and patent applications provide coverage with expected expiration dates ranging from 2022 to 2033. U.S. patents covering the composition of matter related to the current RECELL System expire in 2022. We have filed a Patent Term Extension (PTE) application with the U.S. Patent and Trademark Office requesting an extension of the patent term of U.S. Patent No. 9,029,140, “Cell suspension preparation technique and device” as a result of the time required for the FDA regulatory process. If the term extension requested in the PTE application is approved, the patent term of U.S. Patent No. 9,029,140 will be extended to 2028. We expect that further research and characterization of the characteristics of the RECELL System, the composition and activity of the Spray-On Skin Cells solution, and the design of the device currently underway will provide additional claims, including composition of matter, for which we will be able to pursue additional U.S. and international patent applications. Patents and patent applications in key international markets parallel those in the U.S."Although they are seeking to extend their patent, there is no guarantee they will be successful.
Most concerning however, is their inability to even defend their existing IP against small companies, let alone big pharma.
Just look up their case against Renovacare (market cap $266m USD)
https://www.fdanews.com/articles/185779-renovacare-wins-patent-battle-with-avita-medicalIf they can't defend their existing IP against a small company like Renovacare, they will have no chance against big pharma. In any case, even more key patents are set to expire.
There is a chance they can make some good money before others move into this space, but as you know.... when people see a company making high margins and have little defensive moat in terms of IP, it is often only a matter of time before someone else with deeper pockets, better networks, business relationships, and a stronger brand name moves in.
They need that patent extension.
(20min delay)