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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) announced the promotion of Peter J. Mariani to Executive Vice President and Chief Financial Officer. Mariani, who has been with Axogen as CFO since 2016, has significantly enhanced the company’s capital structure and operational processes. In this new role, he will also oversee the Quality Assurance team. The company focuses on innovative solutions for peripheral nerve injuries, offering a comprehensive portfolio of products aimed at improving patient outcomes.
Axogen, Inc. (NASDAQ: AXGN) reported a 15% increase in fourth-quarter 2020 net revenue, totaling $32.5 million, up from $28.2 million in Q4 2019. Gross margin improved to 83.2%, while the net loss shrank to $6.0 million, representing a loss of $0.15 per share. Full-year revenue reached $112.3 million, a 5% rise compared to 2019, with a net loss of $23.8 million. Active accounts increased by 12% to 893, signaling growth in customer engagement. The company ended 2020 with $110.8 million in cash and equivalents, demonstrating financial stability amidst pandemic challenges.
Axogen, Inc. (AXGN) announced the completion of pilot phase analysis for its REPOSE clinical study, revealing significant pain reduction for subjects with chronic neuropathic pain. Results showed a mean pain decrease of 69 points at 3 months and 80 points at 12 months on a 100-point scale (p<0.0001). Patients also reported improvements in fatigue, physical function, and sleep disturbances. Enrollment for the comparative phase of the study is expected to complete by Q1 2022. This study aims to evaluate the effectiveness of Axoguard Nerve Cap compared to standard neurectomy treatments.
Axogen (NASDAQ: AXGN) announced its participation in two investor conferences scheduled for February 2021. Karen Zaderej, CEO, will engage in a fireside chat at the BTIG Virtual MedTech Conference on February 18 at 9:00 a.m. ET and at the SVB Leerink Global Healthcare Conference on February 24 at 2:20 p.m. ET. Both discussions will be live-streamed and available for 90 days post-event on Axogen's Investors page. The company specializes in solutions for peripheral nerve regeneration, aiming to restore function and quality of life for affected patients.
Axogen, Inc. (NASDAQ: AXGN) announced it will release its fourth quarter and full-year 2020 financial results on February 22, 2021, after market close. An investment-community conference call will follow at 4:30 p.m. ET, where management will discuss the results. Participation is available via phone or live webcast on the company’s website. Axogen specializes in surgical solutions for peripheral nerve damage, offering products like Avance® Nerve Graft and Axoguard® product line. The company aims to enhance patient recovery and quality of life through innovative nerve repair technologies.
Axogen (AXGN) reported preliminary fourth quarter 2020 revenue of at least $32.4 million, a 15% increase from Q4 2019's $28.2 million. Full-year revenue is projected to be at least $112.2 million, a 5% increase compared to $106.7 million in 2019. The company enhanced its sales team, growing to 111 direct sales representatives and increased active accounts by 12% to 893. Axogen surpassed 50,000 Avance® Nerve Grafts implanted, demonstrating commitment to restoring nerve function despite the pandemic's challenges.
Axogen (NASDAQ: AXGN), a leader in nerve repair solutions, will present clinical evidence at the 2021 American Association for Hand Surgery, American Society for Peripheral Nerve, and American Society for Reconstructive Microsurgery meetings held virtually from January 10-17. The company will host a symposium on January 17 featuring experts discussing significant 2020 publications in nerve reconstruction. Axogen's research will be highlighted in various sessions, addressing topics like nerve conduits and recovery outcomes following surgical interventions.
Axogen (NASDAQ: AXGN) announces its sponsorship of Donate Life at the Tournament of Roses celebration, emphasizing the importance of organ and tissue donation during the pandemic. The 2021 Rose Parade will honor 21 donors and six transplant professionals, including nerve repair surgeons. CEO Karen Zaderej highlights that restoring nerve function relies on tissue donations. Axogen continues to support donation initiatives year-round, illustrating its commitment to enhancing patient quality of life through innovative surgical solutions.
Axogen, Inc. (NASDAQ: AXGN) announced that its chairman and CEO, Karen Zaderej, will present at two investor events in November 2020. The first event, the Jefferies Virtual London Healthcare Conference, is scheduled for November 18 at 3:15 p.m. (10:15 a.m. ET). The second, the Canaccord Genuity Virtual MedTech & Diagnostics Forum, will take place on November 19 at 10:00 a.m. ET. Both presentations will be available via live webcast on the company's Investors page and will be archived for 90 days.
Axogen reported a 17% increase in net revenue for Q3 2020, reaching $33.4 million, up from $28.6 million in Q3 2019. The gross margin stood at 83.0%, slightly down from 84.2% a year prior. Notably, the company narrowed its net loss to $1.5 million or $0.04 per share, significantly improving from a loss of $5.6 million or $0.14 per share year-over-year. Adjusted EBITDA was $2.3 million, a recovery from the prior year's loss. Operationally, active accounts grew by 11% to 875.
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