Welcome to our dedicated page for Organogenesis Holdings news (Ticker: ORGO), a resource for investors and traders seeking the latest updates and insights on Organogenesis Holdings stock.
Organogenesis Holdings Inc. (Nasdaq: ORGO) is a pioneering company in the field of regenerative medicine. Headquartered in Canton, Massachusetts, Organogenesis offers a diverse portfolio of bioactive and acellular biomaterial products, primarily targeting the Advanced Wound Care and Surgical & Sports Medicine markets. The company's innovative solutions cater to a wide range of patients with repair and regenerative needs.
The company's core products include PuraPly Antimicrobial, Affinity, NuShield, Apligraf, and Dermagraft, which are designed to improve patient outcomes while reducing overall healthcare costs. Organogenesis is recognized for its advancements in both orthopedics and spine treatments, reflecting its commitment to addressing unmet medical needs through cutting-edge research and development.
In recent news, Organogenesis has reported significant milestones and achievements. The company announced that its Phase 3 randomized control trial evaluating ReNu, a cryopreserved amniotic suspension allograft for knee osteoarthritis (OA), met its primary endpoint, demonstrating a significant reduction in knee OA pain. This achievement is poised to introduce new non-surgical treatment options for OA patients, potentially opening a significant market opportunity for Organogenesis.
The company has also faced challenges. Its third-quarter revenue was impacted by local coverage determination (LCD) issues, yet it managed to deliver substantial improvements in operating profitability and adjusted EBITDA. Organogenesis continues to build momentum with commercial support programs aimed at enhancing customer relationships and regaining lost accounts.
Financially, the company reported a net revenue of $99.7 million in the fourth quarter of 2023, reflecting a decrease from the previous year. Despite these hurdles, Organogenesis remains financially robust with $104.3 million in cash and equivalents as of December 2023. Its operating expenses have been carefully managed, showcasing a reduction in selling, general, and administrative expenses.
Looking ahead, Organogenesis has set optimistic projections for 2024, with anticipated revenue growth driven by new product launches and the continued demonstration of value to customers. The company is also planning to further engage with regulatory bodies to secure approvals and expand the clinical indications of its products.
Overall, Organogenesis Holdings Inc. stands out for its commitment to innovation, patient care, and financial stability, making it a significant player in the regenerative medicine landscape. For more information, visit their official website.
Organogenesis announces that the FDA has granted ReNu, a cryopreserved amniotic suspension allograft for knee osteoarthritis management, Regenerative Medicine Advanced Therapy (RMAT) designation. This designation allows closer interactions with the FDA to support accelerated approval, enhancing the therapy's development pathway. The RMAT was granted based on a randomized controlled trial showing a significant reduction in pain and improved function in patients treated with ReNu compared to standard treatments.
Organogenesis Holdings (Nasdaq: ORGO) has announced its participation in the ICR Conference 2021, scheduled to take place virtually from January 11th to 14th. Management will engage in a fireside chat on January 14th at 1:45 p.m. Eastern Time. A live audio webcast of the presentation will be accessible via the company’s Investor Relations page, with an archive available for replay for 30 days post-conference. Organogenesis specializes in regenerative medicine, offering solutions in advanced wound care and sports medicine.
Organogenesis Holdings (Nasdaq: ORGO) has priced an underwritten public offering of 17,500,000 shares of its Class A common stock at $3.25 per share, aiming for gross proceeds of approximately $56.9 million. The offering is set to close by November 17, 2020, pending customary conditions. The company plans to use the net proceeds for working capital, facility expansion, salesforce growth, clinical studies, and securing regulatory approvals. Underwriters have a 30-day option to purchase an additional 2,625,000 shares.
Organogenesis Holdings Inc. (Nasdaq: ORGO) announced a public offering of 17,500,000 shares of its Class A common stock, with an option for underwriters to purchase an additional 2,625,000 shares. The offering, managed by Morgan Stanley and SVB Leerink, is subject to market conditions. A registration statement has been filed with the SEC but is not yet effective, preventing any sale or buyer acceptance until it is. The press release includes forward-looking statements highlighting potential risks related to market conditions and completion of the offering.
Organogenesis Holdings Inc. (Nasdaq: ORGO) reported Q3 2020 net revenue of $100.8 million, up 57% from $64.3 million in Q3 2019, driven by a 66% increase in Advanced Wound Care products. The company achieved a net income of $20.9 million, a turnaround from a loss of $10.7 million in the prior year. Adjusted EBITDA was $24.6 million. Despite the COVID-19 pandemic, the company reaffirmed its 2020 financial guidance with expected revenues between $311 million and $314 million, representing a 20% year-over-year growth.
Organogenesis Holdings Inc. (Nasdaq: ORGO) announced its participation in the 2020 Symposium on Advanced Wound Care (SAWC), set for November 4-6. Key presentations include a study led by Dr. Oscar M. Alvarez highlighting Apligraf®'s effectiveness in treating pressure injuries. Additionally, the company will sponsor an Innovation Theater event discussing advanced wound care solutions. Attendees can engage with specialists at Organogenesis' virtual booth. The company's COO emphasized its commitment to advancing wound healing standards through evidence-based product offerings.
Organogenesis (Nasdaq: ORGO) reported preliminary Q3 2020 results with net revenue projected between $99.0 million and $100.0 million, marking a 54% to 56% increase from $64.3 million in Q3 2019. Advanced Wound Care products contributed $88.5 million to $89.3 million, up 63% to 64%, while Surgical & Sports Medicine products generated $10.5 million to $10.7 million, a 5% to 7% rise. The company's updated FY 2020 guidance estimates net revenue of $311 million to $314 million, with anticipated positive GAAP net income and adjusted EBITDA.
Organogenesis Holdings Inc. (Nasdaq: ORGO) announced a change in its presentation schedule for the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit. The company will now present on September 21, 2020, at 2:30 p.m. Eastern Time, instead of the previously scheduled time of September 22, 2020, at 4:10 p.m. Eastern Time. A live audio webcast of the presentation will be available on the company’s website, with a replay accessible for approximately 30 days post-event. Organogenesis specializes in regenerative medicine, providing solutions for advanced wound care and surgical needs.
Organogenesis Holdings, focused on regenerative medicine, will participate in two investor conferences. Management will engage in a fireside chat at the Morgan Stanley 18th Annual Global Healthcare Conference on September 16 at 5:00 p.m. ET, followed by another at the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on September 22 at 4:10 p.m. ET. Live audio webcasts will be available on their Investor Relations webpage, with replays accessible for 30 days.
Organogenesis Holdings Inc. (Nasdaq: ORGO) announced the resignation of CFO Timothy M. Cunningham effective August 18, 2020. His departure was not due to disputes or financial issues. Henry Hagopian, previously Vice President of Finance, has stepped in as interim CFO while a national search for a permanent replacement begins. CEO Gary S. Gillheeney acknowledged Cunningham's role in the company's progress and public transition. Hagopian brings extensive financial experience, including previous roles at CIRCOR International and Lucent Technologies.
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