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TransMedics Group, Inc. (NASDAQ: TMDX) is a leading commercial-stage medical technology company revolutionizing organ transplant therapy for end-stage organ failure patients. Based in Andover, Massachusetts, the company was established to address the critical need for more and better organs for transplantation. TransMedics has developed the Organ Care System (OCS), a proprietary technology that preserves and optimizes donor organs outside the human body under near-physiological conditions.
TransMedics' breakthrough solutions aim to increase organ utilization, improve patient outcomes, and reduce transplant costs across the healthcare system. The company's flagship products, the OCS™ Lung and OCS™ Heart systems, are CE-marked and actively used commercially outside the U.S., while being under review by the FDA for U.S. market access. Additionally, the OCS™ Liver is undergoing an FDA pivotal trial (the OCS™ Liver PROTECT Trial) in the United States and a CE-mark trial (the Revive Trial) in Europe.
In a strategic move, TransMedics recently signed an agreement to acquire Summit Aviation, a premier U.S. charter flight operator, with the intent to establish TransMedics Aviation as the first national provider of air logistics dedicated to organ transplantation in the U.S. This acquisition aligns with the company's commitment to expanding its National OCS Program (NOP) and enhancing its logistics capabilities.
Financially, TransMedics has demonstrated significant growth. For the second quarter of 2023, the company reported total revenue of $52.5 million, a 156% increase from the same quarter the previous year. By year-end 2023, total revenue reached $241.6 million, a 159% increase compared to the prior year, driven by the increased utilization of the OCS through the NOP and additional revenue from logistics services.
TransMedics remains focused on advancing its product offerings and clinical indications while continuing to scale its operational infrastructure. As of the first quarter of 2024, the company achieved a revenue of $96.9 million, marking a 133% year-over-year increase, and recorded net income of $12.2 million. The full-year 2024 revenue forecast is projected to be in the range of $390 million to $400 million, reflecting continued strong growth.
With its innovative technologies and strategic expansions, TransMedics is poised to significantly contribute to the field of organ transplantation, enhancing the quality of life for patients worldwide.
TransMedics Group (Nasdaq: TMDX) announced the granting of inducement awards to three new employees, including their new Chief Financial Officer Gerardo Hernandez. The grants consist of 20,612 non-qualified stock options and 13,576 restricted stock units. The stock options were granted at an exercise price of $69.84, matching the closing price on December 9, 2024.
The vesting schedule for options includes 25% after the first year, with the remainder vesting monthly over three years. Restricted stock units will vest 25% annually over four years. All grants require continued employment and were approved under Nasdaq Listing Rule 5635(c)(4) through the TransMedics Group Inducement Plan.
TransMedics Group (Nasdaq: TMDX) announced the appointment of Gerardo Hernandez as Chief Financial Officer, effective December 2, 2024. Hernandez, with over 25 years of healthcare and CPG experience, succeeds Stephen Gordon, who will remain as a non-executive employee until March 2025 and later serve as a non-employee senior advisor until March 2026. The company also updated its 2024 financial outlook, projecting revenue between $428 million to $432 million, representing 77% to 79% growth compared to the previous year. Hernandez joins from Alnylam Pharmaceuticals, where he served as VP Finance and Head of Corporate Financial Planning and Analysis.
TransMedics Group (Nasdaq: TMDX) has announced its upcoming Investor & Analyst Day scheduled for December 10, 2024, at 10:00 AM ET in New York City. The event will feature presentations from CEO Waleed Hassanein and the leadership team, focusing on the company's growth strategy, clinical pipeline, and operations.
The event will be accessible via live and archived webcast on the TransMedics website's Investors section. While questions during the Q&A session will be to the live audience, interested parties can register for in-person attendance by contacting Laine Morgan by December 4, 2024.
TransMedics Group (Nasdaq: TMDX), a medical technology company focused on organ transplant therapy, announced its participation in the Piper Sandler 36th Annual Healthcare Conference. The company's management team will engage in a fireside chat on Tuesday, December 3, 2024, at 4:00 p.m. Eastern Time at the Lotte New York Palace.
A live and archived webcast of the presentation will be accessible through the company's investor relations website. The standard investor presentation will also be available through the same platform.
TransMedics Group (Nasdaq: TMDX) announced the granting of inducement awards to 6 new employees on October 23, 2024. The grants include 2,969 non-qualified stock options with an exercise price of $118.66 per share and 1,937 restricted stock units. The stock options will vest 25% after one year, with the remainder vesting monthly over three years. The restricted stock units will vest 25% annually over four years. Both grants require continued employment and were approved by the Compensation Committee under Nasdaq Listing Rule 5635(c)(4).
TransMedics (TMDX) reported strong Q3 2024 financial results with total revenue of $108.8 million, representing a 64% increase from Q3 2023. The company achieved a net income of $4.2 million ($0.12 per diluted share), compared to a net loss in the previous year. Gross margin was 56%, down from 61% in Q3 2023. The company maintained its full-year 2024 revenue guidance of $425-445 million, projecting 76-84% growth. TransMedics owned 18 aircraft and held $330.1 million in cash as of September 30, 2024, continuing its progress toward the goal of 10,000 OCS transplant cases annually by 2028.
TransMedics Group, Inc. (Nasdaq: TMDX), a medical technology company focused on transforming organ transplant therapy, has announced that it will release its third quarter 2024 financial results after market close on Monday, October 28, 2024. The company will host a conference call at 4:30 p.m. ET / 1:30 p.m. PT on the same day to discuss the results.
Investors can participate in the conference call by dialing (844) 481-2832 for domestic callers or (412) 317-1852 for international callers and requesting to join the TransMedics call. Additionally, a live and archived webcast of the event will be available on the company's investor relations website at https://investors.transmedics.com/.
TransMedics Group (Nasdaq: TMDX), a medical technology company focused on organ transplant therapy, has granted inducement awards to a new employee. The grants, approved by the Compensation Committee, include:
- 336 non-qualified stock options with an exercise price of $156.00 per share
- 218 restricted stock units
The stock options will vest 25% after one year, with the remainder vesting monthly over three years. The restricted stock units will vest 25% annually over four years. Both grants are subject to continued employment and the terms of the TransMedics Group, Inc. Inducement Plan. These awards were granted in accordance with Nasdaq Listing Rule 5635(c)(4) as material inducement for the employee's entry into employment with TransMedics.
TransMedics Group, Inc. (Nasdaq: TMDX), a medical technology company focused on transforming organ transplant therapy, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. The event will take place on Wednesday, September 4, 2024, at 1:05 p.m. Eastern Time at the Marriott Marquis New York.
Members of TransMedics' management team will engage in a fireside chat during the conference. Investors and interested parties can access a live and archived webcast of the discussion through the 'Investors' section of the TransMedics website. Additionally, the company's standard investor presentation is available for viewing on the same platform.
TransMedics Group, Inc. (Nasdaq: TMDX), a medical technology company focusing on organ transplant therapy, has announced the granting of inducement awards to four new employees. The grants, approved by the Compensation Committee and in line with Nasdaq Listing Rule 5635(c)(4), include:
- 3,073 non-qualified stock options with an exercise price of $170.28 per share
- 2,003 restricted stock units
The stock options have a 10-year term and will vest over four years, with 25% vesting on the first anniversary and the remainder monthly over three years. The restricted stock units will vest 25% annually over four years. Both are subject to continued employment and the terms of the TransMedics Group, Inc. Inducement Plan.
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