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 has announced a definitive agreement for a private placement expected to raise approximately $14 million before expenses. This deal involves the sale of 2,122,637 shares of Class A and 1,179,244 shares of Class B common stock at $4.24 per share, with the closing anticipated on December 8, 2021. The offering is not a public offering and will be executed under Regulation D of the Securities Act, necessitating a registration statement for resale of Class A shares. Forward-looking statements in the release caution that actual results may vary.
Aziyo Biologics (Nasdaq: AZYO), a regenerative medicine company, has announced participation in two virtual investor conferences. The first event is the Canaccord Genuity Virtual MedTech, Diagnostics and Digital Health & Services Forum on November 18, 2021, featuring 1x1 meetings. The second event is the 33rd Annual Piper Sandler Healthcare Conference on December 2, 2021, which will include fireside chats and 1x1 meetings. A pre-recorded fireside chat will be available starting November 22, 2021, on the company’s website.
Aziyo Biologics, Inc. (Nasdaq: AZYO) reported its Q3 2021 financial results, posting net sales of $11.5 million, down from $11.8 million in Q3 2020. Year-to-date sales increased by 21% to $36.5 million. Core product sales fell to $8.6 million due to the discontinuation of FiberCel and lower procedure volumes from COVID-19. Gross profit was $3.7 million with a gross margin of 32.1%, down from 47.1% a year prior. Operating expenses rose 30% to $10.7 million, leading to a net loss of $8.3 million. The company anticipates full-year 2021 net sales of $47-$48 million, a 10%-12.5% growth over 2020.
Aziyo Biologics (Nasdaq: AZYO) announced that Medtronic will cease distribution of Cellular Bone Matrix products, impacting their FiberCel distribution agreement. Despite this, Aziyo is enhancing safety protocols and reported preliminary Q3 revenue of approximately $11.5 million, down from $11.8 million in Q3 2020. The company faces COVID-related challenges yet remains optimistic, especially about the CanGaroo envelope's progress. Full financial results will be released on November 9, 2021.
Aziyo Biologics, a regenerative medicine company focused on surgical outcomes, announced its participation in the 2021 Cantor Global Healthcare Conference.
Date: September 27, 2021
Time: 8:40 AM ET
Presentation Link: Available on the Company’s website.
Aziyo, founded in 2015, develops innovative products for cardiovascular, orthopedic, and reconstructive applications, particularly for patients using implantable medical devices.
Aziyo Biologics, Inc. (Nasdaq: AZYO) announced the appointment of Peter G. Edwards as General Counsel. With nearly 30 years of experience in public companies, particularly in healthcare, Edwards previously served as General Counsel at Celanese Corporation and Baxalta. His expertise is expected to support Aziyo's growth as it develops differentiated regenerative medicine products for patients undergoing surgery. President Ron Lloyd expressed confidence in Edwards' ability to add value as the company aims for continued success.
Aziyo Biologics, Inc. (Nasdaq: AZYO) reported strong financial results for Q2 2021, with net sales reaching $12.2 million, a 42% increase year-over-year. Core product sales were $10.0 million, representing 35% growth. The company achieved a gross margin of 46.2%, an improvement of 210 basis points. Despite a net loss of $2.4 million, significantly reduced from $5.2 million in Q2 2020, the company remains optimistic about upcoming FDA submissions and expects third quarter sales between $11 million and $12 million.
Aziyo Biologics, Inc. (NASDAQ: AZYO) plans to release its second quarter earnings results on August 9, 2021, after market close. Management will discuss the financial performance during a conference call at 4:30 p.m. ET. Investors can access the call via telephone or through a webcast available on the Aziyo website. As a commercial-stage regenerative medicine company, Aziyo focuses on innovative products for patients requiring implantable medical devices, serving cardiovascular, orthopedic, and reconstructive specialties.
Aziyo Biologics, Inc. (Nasdaq: AZYO) announced a voluntary recall of its FiberCel Fiber Viable Bone Matrix on June 2, 2021, due to post-surgical infections, including tuberculosis cases, linked to a specific donor lot. This lot contains 154 units and was distributed across 20 states. The company is collaborating with health authorities to investigate the source of infections and is recovering unused units. As a precaution, FiberCel sales are paused, prompting Aziyo to suspend its revenue guidance for 2021.
Aziyo Biologics reported strong first quarter results for 2021, achieving net sales of $12.9 million, a 31% increase year-over-year. The growth was primarily driven by the company's Core Products, which saw a 29% increase in sales. The company has updated its full-year net sales guidance to a range of $52 million to $54 million, reflecting anticipated growth of 22% to 27% compared to 2020. However, net loss was $5.1 million, up from $4.6 million in the prior year, and gross margin decreased to 49%. Despite ongoing COVID-related challenges, Aziyo remains optimistic about future growth.
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