Welcome to our dedicated page for MiMedx Group news (Ticker: MDXG), a resource for investors and traders seeking the latest updates and insights on MiMedx Group stock.
MiMedx Group, Inc. (NASDAQ: MDXG) is a pioneer in the field of advanced wound care and therapeutic biologics. The company specializes in developing and distributing human placental tissue allografts utilizing patent-protected processes. With a cornerstone methodology known as the PURION® Process, MiMedx ensures the production of high-quality allografts via aseptic processing techniques and terminal sterilization.
Having supplied over two million allografts through direct and consignment shipments, MiMedx is a trusted name in the healthcare sector. The company’s product range includes EpiFix for external use and AmnioFix for internal applications, alongside other innovative products such as AmnioCord, AmnioFill, EpiBurn, and EpiCord. Additionally, MiMedx markets allografts for ophthalmic surgery and dental applications through third-party licenses.
MiMedx is dedicated to transforming wound care in sectors like burn treatment, surgical procedures, sports medicine, and orthopedics. By combining its extensive portfolio with strategic initiatives, such as its recent exclusive partnership with Regenity for a 510(k) cleared, bovine-derived collagen matrix, the company aims to enhance its competitive edge and expand its market reach.
Financially, MiMedx has shown impressive growth. For 2023, the company reported net sales of $321 million, reflecting a 20% increase from the previous year. Strategically, new credit facilities have been secured to bolster financial flexibility. The company expects low double-digit net sales growth for 2024 and an adjusted EBITDA margin exceeding 20%.
Despite facing regulatory challenges, such as the FDA’s stance on the AXIOFILL product, MiMedx continues to thrive. The company is actively engaging with the FDA while maintaining the product in the market. This resilience underscores MiMedx’s commitment to compliance and innovation in providing safe and effective products.
The company’s vision is to be the leading global provider of healing solutions through relentless innovation, aiming to restore quality of life for patients. For more information, visit www.mimedx.com.
Net Health announced a partnership with MiMedx Group, Inc. (Nasdaq: MDXG) to enhance the insurance verification process for MIMEDX's tissue-based products. The integration of MIMEDX into Net Health's Wound Care software enables hospital and outpatient providers to submit electronic insurance verification forms efficiently. This collaboration aims to reduce administrative burdens on clinicians and expedite insurance approvals. MIMEDX's EPIFIX® product is covered by all national commercial payors, further emphasizing the significance of this partnership in improving patient access to advanced wound care solutions.
MIMEDX announced interim results from its Phase 2B Knee Osteoarthritis (KOA) trial and Phase 3 Plantar Fasciitis (PF) trial. The KOA trial, involving 446 patients, did not meet primary endpoints but showed varied efficacy signals among cohorts, prompting plans for Phase 3 confirmatory studies. The PF trial also failed to meet its primary endpoint, leading to the decision against a Biologics License Application (BLA) at this time. Both trials demonstrated safety with no significant adverse events. MIMEDX intends to consult with the FDA regarding future study directions.
MiMedx Group (Nasdaq: MDXG) has announced the effective shelf registration statement on Form S-3 with the SEC, allowing the sale of up to $350 million in various securities over the next three years. Details regarding future offerings will be disclosed at the time of such offerings. The company intends to announce top-line results from its clinical trials involving micronized dehydrated human amnion chorion membrane (mdHACM) for knee osteoarthritis and plantar fasciitis later this summer. Investors are cautioned to consider potential risks and uncertainties associated with the forward-looking statements.
Marietta, GA, September 7, 2021 - MiMedx Group (Nasdaq: MDXG) announced that CEO Timothy R. Wright, CFO Peter M. Carlson, and Executive VP Robert B. Stein will present at the H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, 2021. The presentation will be accessible on the Company’s website starting September 13 at 7:00 AM ET for 90 days. MiMedx is recognized for its innovative use of amniotic tissue in regenerative medicine, focusing on wound care and musculoskeletal conditions, having supplied over two million allografts to date.
Mariietta, Ga. (Aug. 27, 2021) - MiMedx Group, Inc. (MDXG) filed a Form S-3 shelf registration with the SEC, allowing the sale of up to $350 million in securities over three years. This filing is seen as a positive step towards financial stability and governance. CFO Peter M. Carlson emphasized that while there are no immediate plans to issue securities, this provides flexibility for future growth initiatives. The registration will be effective for three years upon SEC approval. Caution is noted regarding pending Phase 2B and Phase 3 clinical trial results for knee osteoarthritis and plantar fasciitis.
MiMedx Group, Inc. (MDXG) announced the publication of a pivotal study in the Journal of Wound Care demonstrating that advanced treatment (AT) for lower extremity diabetic ulcers (LEDUs) significantly reduces major and minor amputations by 42% compared to standard care. The research utilized Medicare data from 2015 to 2018, highlighting a decrease in hospital readmissions and emergency department visits. With over 3 million Americans affected by diabetic foot ulcers, this study emphasizes the financial and health benefits of timely and effective treatment approaches.
MIMEDX has promoted Marion Snyder to Chief of Staff and Senior Vice President, Government Affairs, enhancing leadership and operational effectiveness. Snyder will lead strategic initiatives and continue to co-chair the Inclusion and Diversity Council. CEO Timothy Wright expressed confidence in Snyder’s capabilities to drive innovation and improve patient care. Snyder, who has been with MIMEDX since 2013, previously served as Senior Vice President of Market Access. The company specializes in amniotic tissue for regenerative medicine and has delivered over two million allografts.
MiMedx Group, Inc. (MDXG) reports Q2 2021 net sales of $68.2 million, a 27% increase from Q2 2020's $53.6 million. Adjusted net sales reached $67.9 million, up 30.6%. The net loss decreased to $1.8 million from $8.5 million in the prior year. Gross profit margin declined to 81.3% due to higher expenses, including a 43.6% rise in selling, general, and administrative costs. The company is on track to release topline results for its musculoskeletal pipeline by late summer and anticipates steady adjusted net sales for 2021.
Marietta, Ga., July 20, 2021 - MiMedx Group, Inc. (Nasdaq: MDXG) will report its financial results for Q2 2021 on August 3, 2021, after market close. The company specializes in regenerative medicine using amniotic tissue and has a pipeline aimed at musculoskeletal conditions. A conference call will be held on August 4, 2021, at 8:30 am ET to discuss the results. MiMedx boasts a portfolio of over two million allografts supplied, highlighting its stronghold in the healthcare sector.
MIMEDX Group, Inc. (Nasdaq: MDXG) congratulates Dr. Cato T. Laurencin on receiving the NAACP's Spingarn Medal, recognizing his pioneering work in regenerative medicine and biomaterials science. Dr. Laurencin, a member of the MIMEDX Board, is honored for his contributions to tissue regeneration and innovation. He is the first surgeon elected to four national academies and has more than 500 publications. Timothy R. Wright, MIMEDX CEO, praises Dr. Laurencin's impact on advancing human health through science.
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