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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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Paragon 28 (NYSE: FNA) has appointed Chadi Chahine as CFO and EVP of Supply Chain Operations, effective August 5, 2024. The company reported Q2 2024 financial results, with global revenue of $61.0 million, representing 19.6% growth. Key highlights include:

- Narrowed 2024 net revenue guidance to $249-$255 million
- Initiated operational efficiency strategy, including 7% workforce reduction
- Q2 gross margin at 75.0%, down from 77.3% in Q2 2023
- Net loss of $13.8 million in Q2 2024
- Adjusted EBITDA loss of $3.0 million, an improvement from $5.4 million loss in Q2 2023

The company also announced a restatement of financial statements for FY 2023 and Q1 2024 due to material accounting errors in inventory calculations.

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Paragon 28 (NYSE: FNA), a leading medical device company focused on the foot and ankle orthopedic market, has announced it will report its second quarter 2024 financial results on August 8, 2024, after market close. The company will host a conference call at 4:30 p.m. Eastern Time / 2:30 p.m. Mountain Time to discuss the results. Investors can join the call by dialing (833-470-1428) for domestic callers or (404-975-4839) for international callers, using conference ID: 389675.

Additionally, Paragon 28's management team will participate in a fireside chat at the Canaccord Genuity 44th Annual Growth Conference on August 14, at 8:00 a.m. Eastern Time. Both events will be webcast live and archived on the company's investor relations website at ir.paragon28.com.

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Paragon 28, a leading medical device company, reported a record net revenue of $61.1 million for the first quarter of 2024, up 17.4% from the same period in 2023. The company also reaffirmed its 2024 net revenue guidance of $249 million to $259 million, expecting 15.1% to 19.7% growth compared to 2023. Despite a decrease in gross profit margin and an increase in operating expenses, the company remains optimistic about sustainable growth driven by new product launches and expanded commercial channels.

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Paragon 28, Inc. (NYSE: FNA) will be presenting at the Bank of America Securities 2024 Healthcare Conference. The Chairman and CEO, Albert DaCosta, and Interim CFO, Krissy Wright, will participate in a fireside chat on May 14, 2024. The event will be live webcasted and archived on the investor relations section of the Company's website.

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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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FAQ

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

The current stock price of Paragon 28 (FNA) is $10.43 as of November 21, 2024.

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

The market cap of Paragon 28 (FNA) is approximately 878.2M.

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

878.23M
49.79M
40.56%
61.27%
8.11%
Medical Devices
Surgical & Medical Instruments & Apparatus
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United States of America
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