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Paragon 28, Inc. - FNA STOCK NEWS

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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.

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Stephen Deitsch resigns as CFO of Paragon 28 to join OrganOx ; Kristina Wright appointed interim CFO. Preliminary Q1 2024 net revenue expected at $60.8 to $61.1 million, reaffirming FY 2024 guidance of $249 to $259 million. Paragon 28 to report Q1 2024 results on May 8, 2024.
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Paragon 28, Inc. (NYSE: FNA) introduces the Grappler® R3INFORCE™ Extraosseous Repair System for ankle ligament stability. The system offers dynamic anchors for better tissue replication, compatibility with existing products, and sterile packed configurations. CEO Albert DaCosta highlights the importance of syndesmotic stabilization, aiming to enhance patient recoveries. Surgeon Designer Mark Davies praises the system's innovation and anatomical reconstruction capabilities. The new system expands Paragon 28's soft tissue solutions, providing a comprehensive portfolio for foot and ankle injuries.
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Paragon 28, Inc. (NYSE: FNA) reported strong financial results for Q4 and FY 2023 with net revenue growth of 17.6% and 19.3% respectively. The company's U.S. net revenue saw a 14.1% increase in Q4 and a 16.1% increase for the full year. International net revenue grew by 43.1% in Q4 and 41.3% for the full year. However, gross profit margin decreased due to inventory write-downs. Research and development expenses and selling, general, and administrative expenses increased by 10.5% and 14.2% respectively. The net loss improved significantly in Q4 and FY 2023. Adjusted EBITDA was negatively impacted but showed improvement. The company provided a 2024 Net Revenue guidance of $249 million to $259 million, anticipating further growth.
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Paragon 28, Inc. (NYSE: FNA) will have its Chairman and CEO, Albert DaCosta, and CFO, Steve Deitsch, participate in a fireside chat at the CG 2024 Musculoskeletal Conference. The event will take place on February 12, 2024, at 1:00 p.m. PT / 2:00 p.m. MT. A live webcast and archived recording will be accessible on the company's investor relations website.
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Paragon 28, Inc. (NYSE: FNA) will report financial results for Q4 and full year 2023 on February 29, 2024, with a corresponding conference call. Investors can listen to the call via webcast or phone, with the webcast available for replay on the company's website for at least 90 days.
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Paragon 28, Inc. (NYSE: FNA) has launched the PRECISION® MIS Bunion System, a minimally invasive surgical technique for distal metatarsal osteotomy. The system features an outrigger for controlled correction, instrumentation for free-hand technique, and cannulated chamfer screws for fixation. Surgeon designer David Gordon, MD, praised the system's three-dimensional correction and high functionality. Paragon 28's CEO, Albert DaCosta, highlighted the system's ability to treat a broader array of patients with Hallux Valgus, bringing benefits of minimally invasive surgery to patients and surgeons. The system will be debuted at the American College of Foot and Ankle Surgeons (ACFAS) Annual Meeting and will be showcased alongside other recent and upcoming product launches.
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Paragon 28, Inc. (NYSE: FNA) has introduced the FJ2000™ Power Console and Burr System for foot and ankle surgery, designed to modernize procedures with its versatile and efficient features. The system offers pre-set options for reducing thermal necrosis, single-use hand pieces, and a variety of burrs and instruments in a sterile packed kit. The CEO highlighted the benefits of the system in terms of cost, efficiency, surgeon optionality, and patient outcomes, while a renowned surgeon praised its efficiency and flexibility. The new system complements Paragon 28's existing bunion and forefoot solutions portfolio.
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Paragon 28, Inc. (NYSE: FNA) has announced the launch of the Mister Tendon™ System, designed to allow surgeons to perform a distal cut of the flexor hallucis longus or flexor digitorum longus tendon through a minimally invasive incision. The system aims to improve healing and recovery time in flatfoot reconstruction. The press release also features comments from the CEO and surgeon designer, highlighting the company's commitment to addressing unmet needs of foot and ankle surgeons.
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Paragon 28, Inc. (NYSE: FNA) has announced the limited market release of its Bun-Yo-Matic™ Lapidus Clamp System and the completion of the first surgical cases in Orange County, California and Seattle, Washington. The Bun-Yo-Matic™ is a unique bunion solution designed to simulate weight-bearing intraoperatively and allow for compression prior to hardware application, providing surgeons with a more reproducible and efficient means to restore three-dimensional alignment of the foot. The Clamp remains fixed to the anatomy throughout the entire procedure, ensuring surgeon-guided correction and anatomic alignment. Paragon 28's CEO, Albert DaCosta, expects the product to drive significant growth for the company, bringing more reproducibility, streamlined procedural workflow, improved accuracy, and ultimately improved patient outcomes in technically demanding Lapidus arthrodesis cases. The Bun-Yo-Matic™ Lapidus Clamp System complements Paragon 28's existing implants and implant systems designed to treat bunions, providing customers with a comprehensive portfolio to address their bunion and forefoot needs.
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Paragon 28, Inc. (NYSE: FNA) announced preliminary unaudited net revenue for the fourth quarter and full year ended December 31, 2023. The fourth quarter is expected to be in the range of $60.3 to $60.6 million, with a reported growth of approximately 17% to 18% compared to the same period in 2022. The full year net revenue is expected to be in the range of $216.1 to $216.4 million, representing reported and constant currency growth of approximately 19% and 20%, respectively, compared to 2022. The financial results are preliminary and subject to finalization.
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FAQ

What is the current stock price of Paragon 28 (FNA)?

The current stock price of Paragon 28 (FNA) is $5.594 as of November 1, 2024.

What is the market cap of Paragon 28 (FNA)?

The market cap of Paragon 28 (FNA) is approximately 469.5M.

What does Paragon 28, Inc. specialize in?

Paragon 28, Inc. specializes in the development, distribution, and sale of medical devices specifically for the orthopedic foot and ankle market.

When was Paragon 28, Inc. founded?

Paragon 28, Inc. was founded in 2010.

What is the significance of the name 'Paragon 28'?

The name 'Paragon 28' signifies the company's exclusive focus on the foot and ankle market, with '28' representing the number of bones in the human foot.

What types of products does Paragon 28 offer?

Paragon 28 offers a variety of products including plates and plating systems, screws, staples, and nails designed for major foot and ankle procedures.

How many product systems does Paragon 28 have?

Paragon 28 has nearly 80 product systems tailored to meet the specific needs of each patient and procedure.

Where does Paragon 28 generate the majority of its revenue?

Paragon 28 generates the majority of its revenue from the United States.

What is Paragon 28’s approach to innovation?

Paragon 28's approach to innovation involves blending various surgical philosophies from global thought leaders to create biomechanically and clinically relevant surgical solutions.

What is Paragon 28’s commitment to customer service?

Paragon 28 is committed to excellent customer service through a dedicated, highly trained distribution network focused on the foot and ankle market.

How does Paragon 28 address pricing pressures and reimbursement challenges?

Paragon 28 operates efficiently to meet the demands of increasing pricing pressures and reimbursement challenges in the healthcare market.

What recent achievements has Paragon 28 made?

Paragon 28 has made significant milestones in advancing foot and ankle surgery through its innovative product systems and focus on quality and service.

Paragon 28, Inc.

NYSE:FNA

FNA Rankings

FNA Stock Data

469.51M
83.54M
40.68%
60%
8.17%
Medical Devices
Surgical & Medical Instruments & Apparatus
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United States of America
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