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.
MiMedx Group, Inc. (MDXG) will report its third-quarter financial results for the period ended September 30, 2022, after market close on November 2, 2022. The company's management will host a conference call and webcast at 5:00 p.m. ET that day to discuss the results. MiMedx specializes in placental biologics and has supplied over two million allografts to address acute and chronic non-healing wounds. The company utilizes proprietary methods, including the PURION® process, to produce its allografts.
Marietta, GA, Oct. 4, 2022 – MiMedx Group, Inc. (NASDAQ: MDXG) has appointed Matt Notarianni as the new Head of Investor Relations, effective immediately. With over 15 years of experience in healthcare-focused financial services, Notarianni aims to enhance relationships with the investment community. Interim CEO K. Todd Newton expressed enthusiasm about Notarianni’s capabilities in amplifying the company’s story and engaging with investors. Jack Howarth will continue to support IR until his retirement at year-end.
MiMedx Group, Inc. (Nasdaq: MDXG) announced the launch of AXIOFILL, an extracellular matrix particulate derived from human placental tissue, aimed at the $1 billion surgical recovery market. This product stands out as the first human placental-derived particulate, providing a competitive edge over animal-based alternatives. The innovative PURION® technique preserves the natural tissue structure, enhancing its clinical utility for complex wounds. With AXIOFILL, MiMedx continues to focus on customer-driven innovation, reaffirming its commitment to meet the diverse needs of surgeons.
MiMedx Group (MDXG) has launched AMNIOEFFECT, a tri-layer PURION® processed human tissue allograft designed for diverse surgical applications. This new product enhances the Surgical Recovery portfolio and aims to penetrate the growing $1 billion surgical recovery market. Initial usage in over 50 cases has shown promising handling characteristics and effectiveness in complex procedures. Company President Rohit Kashyap noted strong surgeon interest, indicating AMNIOEFFECT addresses significant unmet needs in the field. The product supports healing by providing a biocompatible extracellular matrix.
MiMedx Group, Inc. (MDXG) has received approval from the Japanese Ministry of Health for the reimbursement of EPIFIX®, marking a significant advancement for treating hard-to-heal diabetic and venous ulcers. With an estimated $500 million market potential, the company plans to launch EPIFIX in Japan by Q4 2022. The reimbursement rate is set at 35,100 Yen/cm2, supporting market adoption. Early physician interest indicates strong potential for revenue growth, with over 400,000 qualifying wounds annually. MiMedx is finalizing distributor agreements and training as part of its market entry strategy.
K. Todd Newton has been appointed as the interim Chief Executive Officer of MiMedx Group (Nasdaq: MDXG), effective immediately, replacing Timothy R. Wright, who led since May 2019. The Board, aiming to enhance performance and focus on business opportunities, established a Search Committee for a permanent CEO. Newton, with nearly twenty years in senior leadership roles and significant med-tech expertise, previously served as CEO at Apollo Endosurgery. Despite a projected 11% to 14% growth in Advanced Wound Care product sales for 2022, the company anticipates softer summer sales due to ongoing COVID-19 effects.
MiMedx Group, Inc. (Nasdaq: MDXG) has established the Cato T. Laurencin Regenerative Engineering Founders’ Award to honor Dr. Cato T. Laurencin's contributions to regenerative engineering. This award, created by the AIChE Foundation and the Regenerative Engineering Society, recognizes leaders advancing convergence research in regenerative engineering. CEO Timothy R. Wright praised Dr. Laurencin's pioneering work, emphasizing MiMedx's commitment to innovation in regenerative medicine. The award will be presented in 2023, acknowledging impactful research and promoting diversity in the field.
Marietta, Ga. - MiMedx Group (Nasdaq: MDXG) announced on August 4, 2022, that its senior management will present at the Canaccord Genuity 42nd Annual Growth Conference in Boston on August 10, 2022, at 3:00 p.m. ET. Interested institutional investors can arrange meetings with senior management through their Canaccord Genuity representatives.
The live webcast can be accessed via the company's website, with a replay available for 30 days post-event. MiMedx specializes in placental biologics, focusing on non-healing wounds and musculoskeletal conditions.
MiMedx Group reported second quarter 2022 net sales of $66.9 million, down 1.9% year-over-year, primarily due to a significant decline in Section 351 product sales. However, the continuing portfolio of products achieved a 11.6% revenue increase, underscoring growth in the Surgical Recovery market. The company reaffirmed its 2022 revenue growth outlook of 11% to 14%. Despite a net loss of $10.9 million, the gross profit margin improved to 82.3%. MiMedx is launching new products and engaging in critical clinical trials, signaling ongoing commitment to growth.
MiMedx Group, Inc. (Nasdaq: MDXG) announced the formation of a Regenerative Medicine Scientific Advisory Board (RMSAB) on July 27, 2022, to enhance its mdHACM placental biologics pipeline. The RMSAB comprises experts in tissue engineering and regenerative medicine who will guide the company's clinical initiatives for knee osteoarthritis and other conditions. CEO Timothy R. Wright highlighted the prestigious board's role in accelerating scientific innovation and expanding therapeutic potentials, aiming to deliver effective treatment options for patients.
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