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Paragon 28, Inc. (FNA) is a pioneering medical devices company focused exclusively on the orthopedic foot and ankle market. Founded in 2010, the name ‘Paragon 28’ signifies its dedication to this niche, with ‘28’ representing the number of bones in the human foot. The company was started as a small, family-based business and, while it has seen significant growth, it holds steadfast to its original core values.
Paragon 28 is dedicated to advancing the science behind foot and ankle surgery through innovative and high-quality solutions. The company collaborates with global thought leaders to blend various surgical philosophies, resulting in biomechanically and clinically relevant surgical solutions. Their comprehensive product lineup includes plates and plating systems, screws, staples, and nails designed for all major foot and ankle procedures such as ankle, Charcot, fracture fixation, hallux valgus, hammertoe, and flat foot corrections.
With nearly 80 product systems, Paragon 28 aims to meet the specific needs of each patient and procedure, ensuring precise and effective outcomes. The company is also committed to providing excellent customer service through a dedicated and highly trained distribution network, primarily targeting the foot and ankle market.
Operating efficiently to meet the demands of pricing pressures and reimbursement challenges, Paragon 28 generates the majority of its revenue from the United States. The company's relentless focus on innovation and service has led to significant milestones, making it a trusted name in the foot and ankle surgical space.
Paragon 28 (NYSE: FNA), a foot and ankle surgical solutions provider, has appointed Dave Demski as an independent director, expanding its board from eight to nine members. Demski brings over two decades of orthopedic executive leadership experience, having most recently served as President and CEO of Globus Medical from 2017 to 2022. His background includes roles as CFO, COO, and President of Emerging Technologies at Globus Medical. Currently, he serves on the board of Alphatec Spine and previously served on Axonics' board until its acquisition by Boston Scientific in 2024. Demski holds a B.S. in Business Administration from the University of Michigan and an MBA from Stanford.
Cohen Milstein has announced a securities class action lawsuit against Paragon 28 (NYSE:FNA), a medical device company, regarding alleged false and misleading statements about financial statements and internal controls. The lawsuit covers investors who purchased shares between May 5, 2023, and September 20, 2024. Investors who suffered significant losses during this period have until November 29, 2024, to request appointment as lead plaintiff. The complaint, filed in the U.S. District Court for the District of Colorado, alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by current and former officers.
Paragon 28 (NYSE: FNA), a specialized medical device company focusing on foot and ankle orthopedics, has announced its participation in the 36th Annual Piper Sandler Healthcare Conference. Chairman and CEO Albert DaCosta and CFO Chadi Chahine will engage in a fireside chat on Tuesday, December 3, 2024, at 8:30 a.m. Eastern Time. The presentation will be accessible via live webcast and archived recording on the company's investor relations website at ir.paragon28.com.
A class action securities lawsuit has been filed against Paragon 28 (NYSE:FNA), a medical device company, in the U.S. District Court for the District of Colorado. The lawsuit alleges that the company and certain officers made false and misleading statements regarding financial statements and internal controls between May 5, 2023 and September 20, 2024. Cohen Milstein Sellers & Toll PLLC is urging affected shareholders who suffered significant losses during this period to contact them by November 29, 2024 to potentially serve as lead plaintiff. Investors are not required to file as lead plaintiff to participate in any potential recovery.
Paragon 28, a medical device company in the foot and ankle orthopedic market, reported its Q3 2024 financial results and raised its 2024 net revenue guidance. The company recorded global net revenue of $62.3 million, marking 18.1% reported growth compared to the prior year. U.S. net revenue was $51.2 million, a 14.8% increase, while international net revenue was $11.2 million, up 35.7%. Despite a net loss of $12.3 million, this was an improvement from the $11.2 million loss in Q3 2023. Gross margin decreased to 74.1% from 77.4%. Operating expenses rose 6.3% to $54.6 million. Adjusted EBITDA turned positive to $0.4 million. Free Cash Flow improved by 69.5% year-over-year. The company raised its 2024 net revenue guidance to $252-$256 million, representing 16.5%-18.3% growth.
Rigrodsky Law has initiated an investigation into Paragon 28 (NYSE:FNA) regarding potential claims against its officers and directors. The investigation focuses on whether the company and its leadership issued materially misleading information or failed to disclose material information to investors concerning financial outlook and internal controls over financial reporting. The investigation covers shareholders who acquired Paragon shares on or before May 5, 2023. Affected shareholders can learn more about their rights at no cost through Rigrodsky Law's website or by contacting their representative.
Paragon 28 (NYSE: FNA), a leading medical device company focused on the foot and ankle orthopedic market, has announced it will report its third quarter 2024 financial results after market close on Tuesday, November 12, 2024. The company will host a conference call and webcast at 4:30 p.m. Eastern Time / 2:30 p.m. Mountain Time on the same day to discuss the results.
Investors can participate in the conference call by dialing (833-470-1428) for domestic callers or (404-975-4839) for international callers, using conference ID: 725499. The webcast will be available on the 'Investors' section of Paragon 28's website at ir.paragon28.com and will be archived for replay for at least 90 days after the event.
Paragon 28 (NYSE: FNA) has launched the Phantom® Fibula Nail System, offering surgeons a less invasive option for treating ankle fractures. This system has shown fewer soft tissue complications, implant removals, and fracture nonunion compared to traditional plate and screw fixation. The system includes innovative features such as:
- Instrumentation for anatomic reduction and proper implant placement
- An Entry K-Wire Guide for correct starting point identification
- A Curved Reamer Guide for proper implant angle
- Screws that thread into the nail
- An expandable proximal locking mechanism
- Compatibility with Paragon 28's syndesmotic implant options
The Phantom® Fibula Nail System is delivered in one surgical tray with sterile packed implants, simplifying surgical workflow and inventory management. It joins Paragon 28's extensive foot and ankle fracture portfolio.
Paragon 28 (NYSE: FNA) has introduced a novel Right-Angle Drill for its APEX 3D™ Total Ankle Replacement System. This new tool is designed to improve tibia preparation before implanting the APEX 3D™ tibia implant. The drill uses a linear guide to precisely create vertical holes in the tibia, ensuring ideal peg placement and a stable implant interface.
This addition is part of a series of instrumentation enhancements to the APEX 3D™ system, including recently released Polishing Blocks, Square Tip Drill, and next-generation Off-Set Impaction Handle. These improvements aim to enhance tibia preparation, contributing to the long-term success of ankle replacements and improving surgeon experience and patient outcomes.
Paragon 28 (NYSE: FNA) has launched the R3FLEX™ Stabilization System, designed to restore stability to ankle syndesmosis after injuries from ankle fractures or high ankle sprains. The system allows surgeons to precisely adjust and visualize tension during repair with a simple handle turn. Key features include:
- Restores soft tissue to a more natural anatomy
- Mitigates arthritic response
- Minimizes risk of hardware removal
- Tibial implant rests on internal surface, reducing risk to saphenous nerve and vein
- Strong repair construct less susceptible to elongation
- Allows controlled micromotion similar to uninjured state
- Delivered in a single sterile kit for simplified workflow
The R3FLEX™ system enhances Paragon 28's soft tissue portfolio, providing a comprehensive solution for foot and ankle soft tissue needs.
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