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 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.
MiMedx Group, Inc. (Nasdaq: MDXG) will release its second-quarter financial results for the period ended June 30, 2022, after market close on August 2, 2022. A webcast and conference call will be hosted by senior management on August 3, 2022, at 8:30 a.m. Eastern Time to discuss these results. MiMedx specializes in placental biologics and has provided over two million allografts, focusing on treating acute and chronic non-healing wounds as well as degenerative musculoskeletal conditions.
MiMedx Group, Inc. (Nasdaq: MDXG) has appointed Kate Surdez as the new Chief Human Resources Officer (CHRO), effective July 18, 2022. With over 20 years of HR experience, Surdez has successfully led initiatives in talent acquisition and organizational change for major biotech companies. CEO Timothy Wright expressed confidence in Surdez's ability to enhance the company's talent strategies and alignment with business goals. MiMedx specializes in placental biologics, focusing on innovative treatments for chronic wounds and musculoskeletal conditions.
MIMEDX Group announced a collaboration with Nordic Bioscience Clinical Development to advance its knee osteoarthritis clinical trial program. Image Analysis Group will provide advanced imaging analytics to assess mdHACM as a potential Disease Modifying Osteoarthritis Drug (DMOAD). The registrational trial will use WOMAC Pain and Function as co-primary endpoints. Previous Phase 2B study results showed significant improvement in pain and function metrics. MIMEDX aims to address product potency issues observed in earlier studies to ensure robust efficacy in future trials.
Prescience Point Capital Management, holding approximately 6.7% of MiMedx Group's shares (MDXG), expresses discontent following the company's recent annual meeting. A significant share of non-affiliated voters opposed the re-election of incumbent directors James Bierman and Phyllis Gardner, with 56% and 49% voting WITHHOLD/ABSTAIN, respectively. Additionally, 79% rejected the executive compensation proposal. Prescience Point demands accountability and highlights a disconnect between share price and company value, urging MiMedx leadership to address these concerns or face potential shareholder actions in the next election.
Mariietta, GA, June 7, 2022 - MiMedx Group (NASDAQ: MDXG) announced the reelection of directors Dr. Phyllis Gardner and James L. Bierman during the 2022 Annual Meeting of Shareholders. Shareholders approved all proposals, including the Say-on-Pay and Qualified Employee Stock Purchase Plan. Chair of the Board, Dr. M. Kathleen Behrens, emphasized the Company’s commitment to growth and responsiveness to shareholder feedback on executive compensation. Final voting results will be filed with the SEC.
Prescience Point Capital Management, holding approximately 6.7% of MiMedx Group (MDXG), has expressed concerns over the lack of transparency regarding preliminary voting results from the company's recent annual meeting. The firm suspects that a significant number of shares voted against the re-election of directors and executive compensation proposals. Founder Eiad Asbahi urges MiMedx to disclose voting results to confirm shareholder sentiment. The firm believes that discontent among non-affiliated shareholders could prompt management to prioritize broader shareholder interests.
Marietta, Ga. – MiMedx Group, Inc. (NASDAQ: MDXG) has announced that shareholders must pre-register by 9:00 a.m. Eastern Time on June 6, 2022, to attend its 2022 Annual Meeting of Shareholders, scheduled for June 7, 2022, at 9:00 a.m. Eastern Time. The meeting will be virtual, allowing shareholders of record as of April 11, 2022, to vote. More details and registration instructions are available at www.votemimedx.com. MiMedx specializes in placental biologics for healthcare, focusing on non-healing wounds and musculoskeletal conditions.
MiMedx Group, Inc. (NASDAQ: MDXG) urges shareholders to support its independent directors in the upcoming vote, addressing misrepresentations by Prescience Point. The company emphasizes its strategic focus on long-term shareholder value, highlighting executive compensation aligned with performance and the significant role of EW Healthcare as a major shareholder. MIMEDX details its advancements in R&D and manufacturing, as well as the successful handling of clinical trial challenges. The 2022 Annual Meeting is set for June 7, 2022, where shareholders can vote via the WHITE proxy card.
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