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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 (TMDX) reported strong financial results for Q4 and full year 2024. The company achieved total revenue of $121.6 million in Q4 2024, up 50% year-over-year, and full-year revenue of $441.5 million, representing an 83% increase from 2023.
Key highlights include net income of $6.9 million ($0.19 per diluted share) in Q4 and $35.5 million ($1.01 per diluted share) for the full year 2024. The company completed 3,715 U.S. OCS cases in 2024, a 58% increase from 2023, and achieved a 20.9% overall OCS market share across all organs.
For 2025, TransMedics projects revenue between $530-552 million, representing 20-25% growth. The company maintained a strong cash position of $336.7 million as of December 31, 2024.
TransMedics Group (Nasdaq: TMDX), a medical technology company focused on transforming organ transplant therapy, has announced its participation in two major investor conferences in March 2025. The company will present at:
1. The TD Cowen 45th Annual Health Care Conference in Boston on March 3, 2025, at 11:50 a.m. EST
2. The Oppenheimer 35th Annual Healthcare MedTech & Services Conference virtually on March 17, 2025, at 9:20 a.m. EST
Interested parties can access live and archived webcasts of both presentations through the 'Investors' section of TransMedics' website. The company's standard investor presentation will also be available through the same platform.
TransMedics Group (Nasdaq: TMDX), a medical technology company focused on organ transplant therapy, has announced it will release its fourth quarter and full year 2024 financial results after market close on Thursday, February 27, 2025. 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 (domestic) or (412) 317-1852 (international). A live and archived webcast will be available on the company's investor relations website.
TransMedics Group (TMDX) has announced the granting of inducement awards to three new employees on January 28, 2025. The compensation package includes:
- 34,884 non-qualified stock options with an exercise price of $67.03 (closing price on grant date)
- 23,192 restricted stock units (RSUs)
The stock options will vest 25% after one year, with the remainder vesting monthly over three years. They have a 10-year term. The RSUs will vest 25% annually over four years. Both grants are subject to continued employment and were approved by the Compensation Committee under Nasdaq Listing Rule 5635(c)(4) through the TransMedics Group Inducement Plan.
TransMedics Group (TMDX) has issued a strong rebuttal to a short-seller report published by Scorpion Capital on January 10, 2025. The company firmly denies the report's claims, stating they are inaccurate and aimed at market manipulation for financial gain.
The company emphasizes that their OCS™ technology and NOP™ program have facilitated over 7,000 organ transplants, enabling the use of donor organs that would have otherwise gone unused due to technological and logistical limitations. TransMedics has engaged legal counsel at Kirkland & Ellis LLP to evaluate legal options.
The company remains committed to its 2025 growth plans, including the launch of next-gen OCS Heart and OCS Lung programs. Management will present at the 43rd Annual J.P. Morgan Healthcare Conference on January 13, 2025.
TransMedics Group (Nasdaq: TMDX), a medical technology company specializing in organ transplant therapy solutions, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference. The company's management team will deliver a presentation on Monday, January 13, 2025, at 2:15 p.m. PST (5:15 p.m. EST).
TransMedics, which focuses on transforming organ transplant therapy for patients with end-stage lung, heart, and liver failure, will make the presentation available through a live and archived webcast on their investor relations website. Interested parties can access both the presentation and the company's standard investor presentation at https://investors.transmedics.com/.
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.
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