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MiMedx Group, Inc - MDXG STOCK NEWS

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.

News

MIMEDX Provides Update on AXIOFILL® Request for Designation (“RFD”) from FDA

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MIMEDX receives a determination letter from the FDA stating AXIOFILL does not qualify as an HCT/P under Section 361, plans to pursue legal options to keep the product on the market. The company reiterates expectations for 2024 net sales growth and adjusted EBITDA margin. Despite the FDA's decision, MIMEDX intends to continue marketing AXIOFILL and has filed a lawsuit in response to the determination letter.
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MIMEDX Expands Portfolio with Fibrillar Collagen Wound Dressing

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MIMEDX Group, Inc. (Nasdaq: MDXG) has entered into an exclusive agreement with TELA Bio, Inc. to commercialize a 510(k) cleared, bovine-derived collagen matrix product for exudating wounds. This partnership aims to enhance MIMEDX's wound care and surgical solutions portfolio, marking a significant step in their growth strategy. The agreement includes immediate addition of the collagen matrix product to MIMEDX's offerings, with plans to introduce more products in the future. Financially, MIMEDX will make an initial $5.0 million payment and potential future payments tied to product sales, ranging from $3.0 million to $7.0 million over the next two years.
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MIMEDX Introduces E-Commerce and Account Management Platform

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MiMedx Group, Inc. (MDXG) launches MIMEDX Connect™, an online platform to streamline ordering, payment processing, and reimbursement submissions. The platform aims to simplify customer experience by reducing administrative burden and providing a centralized hub for account information. Over 300 customer locations have already started using the platform, reporting time-saving benefits and workflow simplification.
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MIMEDX Announces Appointment of Two New Independent Directors

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MiMedx Group, Inc. appoints Tiffany Olson and Dorothy Puhy to its Board of Directors, expanding the board to eleven members. The new directors bring extensive healthcare industry experience and a history of creating shareholder value.
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MIMEDX Announces Fourth Quarter and Full Year 2023 Operating and Financial Results

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MiMedx Group, Inc. (MDXG) reported a 17% year-over-year increase in net sales for the fourth quarter and a 20% increase for the full year 2023. The company achieved a GAAP net income of $53 million for the fourth quarter and $58 million for the full year. Adjusted EBITDA for the fourth quarter was $21 million, representing 24% of net sales. The company launched EPIEFFECT® and converted outstanding Series B convertible preferred stock to common stock. MiMedx expects low double-digit net sales growth in 2024 with an Adjusted EBITDA margin above 20%.
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MIMEDX to Present at TD Cowen 44th Annual Health Care Conference

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MiMedx Group, Inc. (MDXG) announces participation in TD Cowen 44th Annual Health Care Conference. Senior management to present on March 4, 2024, at 2:10 PM ET. Webcast available for institutional investors. Replay to follow on Company's website.
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MIMEDX to Host Fourth Quarter and Full Year 2023 Operating and Financial Results Conference Call on February 28

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MiMedx Group, Inc. (MDXG) will release its Q4 and full-year 2023 financial results on February 28, 2024. The webcast and conference call will be hosted by senior management at 4:30 p.m. ET on the same day. Investors can access the call using the provided details. A webcast replay will be available on the company's website for 30 days post-event.
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MIMEDX Announces Improved Capital Structure with New Senior Secured Credit Facilities and Debt Refinancing

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MiMedx Group, Inc. (Nasdaq: MDXG) announced the refinancing of its existing indebtedness and obtaining additional borrowing capacity through new senior secured credit facilities totaling $95 million. The Facilities, due in January 2029, consist of a $75 million revolving credit facility and a $20 million term loan facility. The Company drew $50 million under the Facilities, using the proceeds to pay off all outstanding obligations under its existing credit facility with Hayfin Capital. The new debt facility provides greater flexibility, a reduction in interest expense, and additional borrowing capacity to fund organic and inorganic initiatives.
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MIMEDX Provides AXIOFILL® Update & Reiterates 2023 Full Year Net Sales and Fourth Quarter Adjusted EBITDA Margin Outlook

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MiMedx Group, Inc. (Nasdaq: MDXG) received a FDA Warning Letter for AXIOFILL classification, not related to safety. The company submitted a Request for Designation for AXIOFILL to the FDA, expecting 2023 net sales growth in the high teens and fourth quarter adjusted EBITDA margin above 20%.
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MIMEDX Announces Conversion of Outstanding Series B Convertible Preferred Stock to Common Stock

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MiMedx Group, Inc. (MDXG) announced the automatic conversion of 95,000 shares of Series B Convertible Preferred Stock into approximately 30 million shares of Common Stock. This conversion simplifies the balance sheet, eliminates ongoing dividend payment obligations, and marks an important milestone in the company's journey to improve its financial profile. The company's CEO expressed gratitude towards the partners who provided financial support, highlighting the resources necessary to reshape the company and position it for future growth.
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FAQ

What is the current stock price of MiMedx Group (MDXG)?

The current stock price of MiMedx Group (MDXG) is $9.1 as of December 20, 2024.

What is the market cap of MiMedx Group (MDXG)?

The market cap of MiMedx Group (MDXG) is approximately 1.3B.

What does MiMedx Group, Inc. specialize in?

MiMedx specializes in advanced wound care and therapeutic biologics, developing and distributing human placental tissue allografts.

What are MiMedx's key products?

Key products include EpiFix for external use and AmnioFix for internal use, along with AmnioCord, AmnioFill, EpiBurn, and EpiCord.

How has MiMedx performed financially in 2023?

MiMedx reported net sales of $321 million in 2023, reflecting a 20% increase from the previous year.

What is the PURION® Process?

The PURION® Process is MiMedx's proprietary methodology for producing high-quality allografts using aseptic processing techniques and terminal sterilization.

How does MiMedx handle regulatory challenges?

MiMedx actively engages with regulatory bodies like the FDA to ensure compliance and maintain market presence for its products.

What new collaborations has MiMedx recently announced?

MiMedx recently entered an exclusive partnership with Regenity for a 510(k) cleared, bovine-derived collagen matrix product.

What is MiMedx's vision?

MiMedx aims to be the leading global provider of healing solutions through relentless innovation, improving the quality of life for patients.

Where can I find more information about MiMedx?

More information can be found on their website at www.mimedx.com.

What markets does MiMedx target?

MiMedx targets markets including wound care, burn treatment, surgical procedures, sports medicine, and orthopedics.

Who can I contact for investor relations at MiMedx?

For investor relations, you can contact Matt Notarianni at mnotarianni@mimedx.com.

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MiMedx Group, Inc

Nasdaq:MDXG

MDXG Rankings

#2289 Ranked by Market Cap
N/A Ranked by Dividends

MDXG Stock Data

1.34B
143.03M
2.45%
68.17%
2.4%
Biotechnology
Surgical & Medical Instruments & Apparatus
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United States of America
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