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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, Inc. (Nasdaq: TMDX) will present virtually at the Oppenheimer 32nd Annual Healthcare Conference on March 16, 2022, at 3:20 p.m. EST. The company is at the forefront of improving organ transplant therapy for patients with end-stage heart, lung, and liver failure. A live and archived webcast of the presentation will be available on their Investors section. TransMedics specializes in portable extracorporeal warm perfusion and assessment of donor organs, enhancing organ viability and increasing usage rates.
TransMedics Group, Inc. (TMDX) announced on February 22, 2022, that it granted non-qualified stock options for 158,500 shares to eight new employees as an inducement to join the company. These options have an exercise price of $13.28, matching the Nasdaq closing price on the grant date. The options will vest 25% after one year, with the remainder vesting monthly over the next three years. The move aims to enhance employee retention as part of the company's growth strategy in organ transplant therapy, focusing on better organ quality and utilization.
TransMedics Group, Inc. (TMDX) reported strong financial results for 2021. Net revenue reached $9.7 million in Q4 2021, up 27% year-over-year. Full-year revenue increased 18% to $30.3 million. The company launched OCS™ Heart and OCS™ Liver in the U.S., significantly contributing to revenue growth. However, net loss widened to $12.7 million for Q4 and $44.2 million for the year. The gross margin improved to 72% in Q4 and 70% for the year. For 2022, TransMedics projects revenue between $49 million and $55 million, indicating potential growth of 62% to 82%.
TransMedics Group (Nasdaq: TMDX) will present at the Cowen 42nd Annual Healthcare Conference on March 9, 2022, at 9:50 a.m. EST. The executive team's presentation aims to highlight advancements in organ transplant therapy, particularly for patients experiencing end-stage lung, heart, and liver failure. TransMedics is a leader in portable warm perfusion technology, focusing on improving organ quality and viability assessment prior to transplantation.
Investors can access a live and archived webcast of the presentation on the TransMedics website.
TransMedics Group, Inc. (Nasdaq: TMDX) will announce its fourth quarter and full year 2021 financial results on February 23, 2022, after market close. A conference call to discuss the results will take place at 4:30 p.m. ET. The company specializes in portable extracorporeal warm perfusion for organ transplants, aiming to enhance organ availability for patients with end-stage conditions. Interested investors can access the call via phone or through a live webcast available on their website.
TransMedics Group, Inc. (Nasdaq: TMDX) announced on January 5, 2022, the publication of results from the OCS™ Liver PROTECT Trial in JAMA Surgery. The trial, which involved 300 participants, demonstrated significant improvements in short-term and mid-term clinical outcomes for liver transplants using the OCS™ Liver System. Key findings include a 41% reduction in early allograft dysfunction (EAD) and a higher utilization of livers from cardiac death donors. CEO Waleed Hassanein emphasized that these results could expand the donor pool and improve patient outcomes.
TransMedics Group, a leader in organ transplant technology, will present at the 40th Annual J.P. Morgan Healthcare Conference on January 12, 2022, at 7:30 a.m. EST. The virtual event aims to showcase the company's advancements in portable warm perfusion and assessment of donor organs for transplantation. Founded to enhance organ availability and quality, TransMedics is dedicated to addressing the needs of patients with end-stage heart, lung, and liver failure. Interested parties can access the presentation live and archived on the TransMedics website.
TransMedics Group, Inc. (TMDX) announced the grant of non-qualified stock options for 240,500 shares of its common stock to eleven employees on November 5, 2021. The options, aimed at incentivizing new hires, were approved by the Compensation Committee and adhere to Nasdaq Listing Rule 5635(c)(4). Each option has a ten-year term with an exercise price of $31.49, the stock's closing price on the grant date. Vesting occurs at 25% after one year and monthly thereafter over three years, contingent on continued employment.
TransMedics Group, Inc. (TMDX) reported Q3 2021 net revenue of $5.4 million, a 24% decrease from Q3 2020. This decline is attributed to the end of revenue from clinical trials for OCS Heart and OCS Liver before FDA approvals. Notable achievements include FDA 510(k) clearance for OCS Lung and PMA for OCS Heart and Liver systems in July and September 2021, respectively. Operating expenses rose to $15.5 million, leading to a net loss of $13.0 million. The company anticipates full-year revenue between $27.6 million and $28.6 million, indicating 8% to 12% growth compared to 2020.
TransMedics Group, Inc. (Nasdaq: TMDX), a leader in organ transplantation technology, will host one-on-one meetings at the Canaccord Genuity MedTech, Diagnostics, and Digital Health & Service Forum on November 18, 2021. The company is dedicated to improving organ transplant therapy for patients with end-stage lung, heart, and liver failure. TransMedics specializes in portable extracorporeal warm perfusion and assessment of donor organs, aiming to enhance organ quality and increase the utilization of donor organs.
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