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Axogen, Inc. (NASDAQ: AXGN) is a leading medical products company specializing in the science, development, and commercialization of technologies for peripheral nerve repair and regeneration. The company's core mission is to restore peripheral nerve function and improve the quality of life for patients suffering from traumatic injuries or surgical procedures that impact nerve function and sensation.
Axogen's innovative product portfolio includes:
- Avance® Nerve Graft: The first and only commercially available allograft for bridging nerve discontinuities.
- Axoguard® Nerve Connector: A coaptation aid designed for the close approximation of severed nerves.
- Axoguard® Nerve Protector: A product that shields nerves during the healing process.
- Axoguard® Nerve Cap: A surgical implant to isolate and protect a peripheral nerve end, minimizing painful neuroma development.
- Axoguard HA+ Nerve Protector: A next-gen nerve protection device designed to provide both short- and long-term protection for peripheral nerve injuries.
- Avive® Soft Tissue Membrane: A biologically active product aiding in nerve healing.
- Axotouch® Two-Point Discriminator: An assessment tool for measuring the innervation density of skin surface areas.
Axogen's products are available in the United States, Canada, Germany, the United Kingdom, Spain, South Korea, and several other countries. The company continues to expand its global presence and partnerships, ensuring that healthcare providers and surgeons have access to clinically and economically effective nerve repair solutions.
Recent achievements include the launch of the Axoguard HA+ Nerve Protector, which provides enhanced nerve gliding and protection for a wide range of peripheral nerve injuries. The company reported strong performance in Q4 2023, with an expected annual revenue growth of 11% to 14% and anticipated gross margins between 76% and 79%.
For more information, visit www.axogeninc.com.
Axogen, Inc. (NASDAQ: AXGN), a leader in surgical solutions for peripheral nerve injuries, announced plans to release its first quarter 2023 financial results on May 9, 2023, before market opening. Management will conduct a conference call at 8:00 a.m. ET to discuss the results, which investors can join via phone or online. Axogen specializes in technologies for nerve regeneration and repair, with a portfolio that includes products like Avance® Nerve Graft and Axoguard Nerve Connector®. These products are designed to restore nerve function and improve patient quality of life. Axogen's innovations are available in multiple countries, demonstrating its international reach and commitment to patient care.
Axogen reported Q4 2022 revenue of $36.2 million, marking a 17% increase compared to Q4 2021. The company logged a net loss of $5.4 million or $0.13 per share, consistent with the previous year. Adjusted net loss improved to $1.1 million from $3.3 million. The full-year revenue reached $138.6 million, up 12% from 2021. The company anticipates 2023 revenue between $154 million and $159 million. Axogen faced challenges with cash management due to $8 million held at Silicon Valley Bank, which became accessible after the FDIC intervention on March 13, 2023.
Axogen, Inc. (NASDAQ: AXGN) announced the appointment of Marc Began as Executive Vice President and General Counsel, effective March 20, 2023, replacing Brad Ottinger. Began brings over 20 years of legal experience from companies like Abiomed and Novo Nordisk. He will oversee legal and compliance activities under the leadership of Karen Zaderej, Chairman and CEO. Additionally, the company reported inducement grants under NASDAQ listing rules, awarding stock options and restricted stock units to both Began and Chief Marketing Officer Jens Schroeder Kemp. These grants include stock options for 90,000 shares for Began, with an exercise price of $8.16.
Axogen (AXGN) has announced it will release its fourth quarter 2022 financial results on March 14, 2023, before market opening. The company specializes in surgical solutions for peripheral nerve injuries and will host a conference call and webcast at 8:00 a.m. ET on the same day. Investors can participate via phone or listen online through the Axogen website. The company emphasizes its commitment to offering innovative, clinically proven solutions to aid in peripheral nerve repair, with a diverse product portfolio available in multiple countries.
Axogen, Inc. (NASDAQ: AXGN) announced the appointment of Jens Schroeder Kemp as Chief Marketing Officer on February 13, 2023. With over 20 years of experience in medical technology, Kemp will lead the company's marketing strategies and report to Karen Zaderej, Chairman and CEO. His previous role was Vice President of Marketing at Ambu Inc., where he significantly contributed to the single-use endoscopy market. The company aims to leverage Kemp's experience to enhance surgeon adoption and drive innovation in its nerve repair solutions, which include products like Avance Nerve Graft and Axoguard.
Axogen, Inc. (NASDAQ: AXGN) announced preliminary unaudited revenue results for Q4 and full-year 2022. Estimated Q4 revenue is about $36.1 million, marking a 16% increase year-over-year when excluding Avive revenue. Full-year revenue is projected at $138.5 million, a 12% increase from 2021. The company reported a cash balance of approximately $55 million at year-end, down from $59.4 million in Q3. Axogen continues to grow with 115 direct sales representatives and aims to submit a BLA for its Avance Nerve Graft in late 2023.
Axogen (NASDAQ: AXGN) announced a study published in Plastic and Reconstructive Surgery, indicating that both allograft and autograft repairs show significantly better rates of meaningful sensory recovery compared to conduit repairs. This comprehensive meta-analysis included over 1,500 nerve repairs across 35 studies. Recovery rates for allograft and autograft were comparable for gaps up to 70mm, while allograft had a better recovery rate (87.1%) in short gaps than conduit (62.2%). Financially, allograft does not impose an increased burden compared to autograft.
Axogen, a leader in surgical solutions for peripheral nerve injuries, announced that CEO Karen Zaderej will present at the JP Morgan 41st Annual Healthcare Conference in San Francisco on January 12, 2023, at 9:45 a.m. PST. The presentation will be available via live webcast on Axogen's Investors page, with a replay accessible for 90 days. Axogen specializes in technologies for nerve regeneration and repair, offering products like Avance® Nerve Graft and Axoguard Nerve Connector®. These solutions aim to restore nerve function and improve patients' quality of life.
Axogen, Inc. (NASDAQ: AXGN) announced its collaboration with the Donate Life organization, showcasing the stories of two patients benefiting from donated nerve tissue. Bri Majsiak, who underwent a mastectomy and nerve reconstruction using Avance Nerve Graft, will ride on the 2023 Donate Life Rose Parade Float. The event occurs on January 2, 2023, in Pasadena. Madelyn Nicpon, also an Avance Nerve Graft recipient, is honored posthumously through a floragraph on the float. This marks Axogen's tenth year co-sponsoring the float, emphasizing the vital role of organ and tissue donation.
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