Welcome to our dedicated page for Elutia news (Ticker: AZYO), a resource for investors and traders seeking the latest updates and insights on Elutia stock.
Elutia Inc. (symbol: AZYO) is a pioneering company in the field of biologic products, dedicated to improving the compatibility between medical devices and patients. The company’s mission is to humanize medical devices to enhance patient outcomes, addressing the growing need for implantable technologies in an aging population.
Elutia's core business revolves around the development and commercialization of innovative biologic solutions. One of its prominent products is the viable bone matrix, designed for orthopedic applications. These products are engineered to integrate seamlessly with the human body, thereby reducing complications and improving healing processes.
Recently, Elutia has been proactive in addressing a significant challenge. The company issued a voluntary recall for certain lots of its viable bone matrix product after post-surgical Mycobacterium tuberculosis (MTB) infections were detected in two patients. Despite initial testing showing negative results for MTB, Elutia has suspended shipments from all donor lots and is cooperating with the U.S. Food and Drug Administration (FDA) and the U.S. Centers for Disease Control and Prevention (CDC). Elutia is also notifying physicians involved to initiate post-exposure prophylaxis for affected patients.
Dr. Randy Mills, President and CEO of Elutia, emphasized the company's commitment to patient safety and its collaboration with the medical community and regulatory authorities during this investigation. This recall exemplifies the company's dedication to maintaining high standards of quality and patient care.
Elutia also made headlines with its CanGaroo product. A recent biopsy showed that the CanGaroo implant was fully resorbed, with the surrounding tissue indicating successful remodeling and vascularization. This development highlights Elutia's ongoing innovation and impact in the medical field.
Financially, Elutia continues to focus on growth and sustainability. The company’s quarterly reports and investor communications, managed by FINN Partners, provide transparency and keep stakeholders informed about its financial health and strategic direction. For further details and the latest updates, visit the company’s official website or the investor relations page.
Aziyo Biologics, Inc. (Nasdaq: AZYO) will release its third quarter 2022 financial results after market close on November 14, 2022. The company's management will host a conference call and webcast at 4:30 p.m. ET the same day. Investors can access the call via a designated link or by phone using the provided U.S. and international numbers. Aziyo specializes in regenerative medicine and offers a portfolio of commercial therapies aimed at enhancing surgical outcomes, particularly in implantable medical devices.
Aziyo Biologics has appointed David Colpman to its Board of Directors and audit committee, effective October 20, 2022. Colpman brings over 25 years of healthcare business development experience, previously holding senior roles at Shire Plc and other prominent firms. His expertise is expected to enhance the company's strategic goals and product development in regenerative medicine. Aziyo aims to leverage his connections to drive growth and foster partnerships as it continues to develop its innovative product pipeline.
Aziyo Biologics, Inc. (Nasdaq: AZYO) has announced key promotions and new hires aimed at enhancing its leadership team to further its commercial and financial objectives. Notable changes include Courtney Guyer as Vice President and General Manager of Women’s Health, Sonali Fonseca, Ph.D. as Vice President and General Manager of Orthobiologics and Emerging Business, and Jeff Hamet as Senior Vice President of Finance. Dr. Randy Mills expressed confidence in the team's capabilities, highlighting their experience and talent needed for the company’s strategic execution.
Aziyo Biologics has appointed Michelle LeRoux Williams, Ph.D. as its new Chief Scientific Officer, a decision aimed at enhancing the company’s pipeline development in regenerative medicine. Dr. Williams brings over 20 years of experience, having successfully launched products such as Osteocel, which achieved cumulative sales exceeding $1 billion. Her previous role at Osiris Therapeutics involved overseeing the development of key therapies generating more than $400 million annually. Dr. Williams expressed enthusiasm to align her expertise with Aziyo’s vision for innovative product development.
Aziyo Biologics will present at the Inaugural Gilmartin Group Emerging Growth Company Showcase on August 31, 2022, at 10:30 am ET. The virtual event will feature members of the management team discussing the company's innovative regenerative medicine solutions. Interested individuals can access the live presentation via a provided link or view the archived version on the Aziyo website afterward. The company focuses on enhancing patient outcomes through its portfolio of products in cardiovascular, orthopedic, and reconstructive specialties.
Aziyo Biologics reported Q2 2022 net sales of $12.6 million, reflecting a 3.9% increase from Q2 2021. Core product sales decreased from $10 million to $9.1 million, while non-core products rose from $2.2 million to $3.6 million. The gross profit was $4.9 million with a gross margin of 38.8%, down from 46.2% year-over-year. Operating expenses surged 28.1% to $13.1 million, leading to a net loss of $9.4 million compared to $2.4 million in the prior year. Aziyo expects total net sales for 2022 to be between $47 million and $50 million.
Aziyo Biologics has secured a $25 million credit facility from SWK Holdings Corporation to enhance its financial flexibility. The facility includes an initial $21 million term loan aimed at supporting commercial and product development initiatives, refinancing existing debts, and settling outstanding obligations. An additional $4 million can be drawn upon meeting specific operational metrics by September 30, 2023. CEO Dr. Randy Mills highlighted that this injection of capital will enable the advancement of their regenerative product portfolio.
Aziyo Biologics (Nasdaq: AZYO) announced that co-founder C. Randal Mills, Ph.D., has been confirmed as President and CEO after serving in an interim role since June 2022. Dr. Mills, a recognized leader in regenerative medicine, aims to reduce complications related to breast reconstruction and implantable devices. The company, focused on regenerative products, will share its second-quarter financial results on August 11, 2022. Dr. Mills has a history of creating significant shareholder value, notably at Osiris Therapeutics.
Aziyo Biologics, Inc. (Nasdaq: AZYO) announced it will release its second quarter 2022 financial results after market close on August 11, 2022. The management team will host a conference call and webcast starting at 4:30 p.m. ET, accompanied by slides. Interested individuals must register 15 minutes prior to the call. Aziyo focuses on regenerative medicine products, particularly for patients with implantable medical devices, since its founding in 2015. More details can be found on the company's website.
Aziyo Biologics (NASDAQ: AZYO) announces the appointment of C. Randal Mills, Ph.D., as interim president and CEO, following Ronald Lloyd's departure from these roles. Lloyd will aid in the transition until the end of Q3 2022. Co-founder Kevin Rakin takes on the executive chairman role. The leadership change aims to continue momentum in developing regenerative medicine products. The company reaffirms its 2022 net sales guidance of $47 to $50 million, highlighting ongoing partnerships and FDA submissions for its products.
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