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Vericel Corporation (NASDAQ:VCEL) is a leading biopharmaceutical company dedicated to developing advanced, patient-specific cellular therapies for severe diseases and conditions. Founded in 1989 as Aastrom Biosciences, Vericel focuses on therapies for sports medicine and severe burn care. The company currently markets three key products in the United States: MACI®, Epicel®, and NexoBrid®.
MACI® (autologous cultured chondrocytes on porcine collagen membrane) is an autologous cellularized scaffold product used to repair symptomatic, full-thickness cartilage defects in the knee. Epicel® (cultured epidermal autografts) serves as a permanent skin replacement for patients with deep dermal or full-thickness burns covering 30% or more of the total body surface area. Vericel also holds exclusive North American rights to NexoBrid® (anacaulase-bcdb), a biological orphan product containing proteolytic enzymes that removes eschar in adults with deep partial- and full-thickness burns.
Vericel has shown strong financial performance with consistent revenue growth across its product lines. In the second quarter of 2023, Vericel reported a 24% increase in total net revenue to $45.9 million. Gross profit for the same period was $29.9 million, representing 65% of net revenue.
The company is poised for continued success with its plans to launch arthroscopic MACI, expected to further increase revenue growth in 2024. Additionally, the U.S. commercial availability of NexoBrid signifies a major expansion of Vericel's burn care franchise, offering a novel treatment for severe thermal burns by selectively targeting eschar while preserving viable tissue.
Vericel's mission is to help patients with severe conditions through innovative therapies. The company's commitment to growth and development is evident in its financial health, partnerships, and strategic initiatives aimed at expanding its market presence and enhancing its product portfolio.
Vericel (NASDAQ:VCEL) reported strong Q3 2024 financial results with total revenue increasing 27% to $57.9 million. The company achieved record quarterly revenues, with MACI net revenue growing 19% to $44.7 million and Burn Care revenue rising 66% to $13.2 million. Gross margin improved to 72%, and adjusted EBITDA increased 84% to $10.0 million. The quarter saw FDA approvals for MACI Arthro and NexoBrid pediatric indication. The company maintained its 2024 revenue guidance of $238-242 million while raising profitability guidance to 72% gross margin and 22% adjusted EBITDA margin.
Vericel (NASDAQ:VCEL), a leader in advanced therapies for sports medicine and severe burn care, announced it will release its third-quarter 2024 financial results on Thursday, November 7, 2024. The company will host a conference call and webcast at 8:30 a.m. (ET) to discuss financial results and business highlights. The event will include presentation slides and will be accessible through the company's Investor Relations website. A replay will be available until November 7, 2025.
Vericel (NASDAQ:VCEL), a leader in advanced therapies for sports medicine and severe burn care, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. The company's President and CEO, Nick Colangelo, along with CFO Joe Mara, will engage in a fireside chat on Friday, September 6, 2024, at 1:05 p.m. ET.
This presentation offers investors and interested parties an opportunity to gain insights into Vericel's operations, strategies, and market position. The event will be accessible via webcast on the Investor Relations section of Vericel's website, allowing for widespread viewing and potential increased investor engagement.
Vericel (NASDAQ:VCEL) has announced FDA approval for MACI Arthro, the first restorative biologic cartilage repair product approved for arthroscopic administration. This expansion of the MACI® label allows for less invasive repair of knee cartilage defects up to 4 cm2. MACI Arthro targets the largest segment of MACI's $3 billion addressable market, focusing on 2-4cm2 defects on femoral condyles, representing about 20,000 patients annually. The company is expanding its target surgeon base from 5,000 to 7,000 to include those performing high volumes of arthroscopic cartilage repair surgeries. This approval is expected to support sustained top-tier revenue growth for Vericel in the coming years.
Vericel (NASDAQ:VCEL) has announced that the FDA has approved NexoBrid® (anacaulase-bcdb) for eschar removal in pediatric patients with deep partial-thickness and/or full-thickness thermal burns. This approval expands NexoBrid's target customer base to include approximately 20 pediatric burn centers in the United States. The approval is based on results from the global Phase 3 CIDS trial and additional pediatric data from Phase 3 and Phase 2 studies. NexoBrid offers a non-surgical solution for managing severe burn injuries in pediatric patients, providing a less invasive alternative to traditional methods. The company expects this expansion to have a meaningful impact on overall NexoBrid uptake over time.
Vericel (NASDAQ:VCEL), a leader in advanced therapies for sports medicine and severe burn care, has announced its participation in the Canaccord Genuity Growth Conference. Nick Colangelo, the company's President and CEO, is scheduled to present on Wednesday, August 14, 2024, at 3:00 p.m. ET.
This presentation offers an opportunity for investors and interested parties to gain insights into Vericel's operations and growth strategies. The company has made the event accessible to a wider audience by providing a webcast of the presentation, which will be available on the Investor Relations section of Vericel's official website at http://investors.vcel.com.
Vericel's participation in this conference underscores its commitment to transparency and engagement with the investment community, potentially impacting its market position and investor relations.
Vericel (NASDAQ:VCEL) reported strong Q2 2024 financial results, with total revenue of $52.7 million, a 15% increase year-over-year. MACI revenue grew 21% to $44.1 million, while Burn Care revenue reached $8.5 million. The company achieved a gross margin of 70%, up 430 basis points, and adjusted EBITDA increased 42% to $6.3 million. Vericel raised its full-year profitability guidance to 71% gross margin and 21% adjusted EBITDA margin. The company maintains a strong financial position with $154 million in cash and no debt. Key highlights include record Q2 total revenue, progress in NexoBrid launch, and anticipated MACI Arthro launch later this quarter.
Vericel (NASDAQ:VCEL), a leader in advanced therapies for sports medicine and severe burn care, has appointed Karen Mahoney as Chief Human Resources Officer. This follows the retirement of Heidi Hassen, who served in the role since 2010. Mahoney brings over 20 years of experience in life sciences and medical devices, most recently as CHRO at Abiomed. Her expertise includes HR strategy, talent selection, and leadership development.
Mahoney's appointment is expected to drive organizational success and support Vericel's long-term growth. She aims to foster a purpose-driven, patient-focused culture that attracts top talent. Nick Colangelo, Vericel's President and CEO, expressed confidence in Mahoney's ability to contribute to the company's continued success.
Vericel (NASDAQ:VCEL), a leader in advanced therapies for sports medicine and severe burn care markets, has announced it will report its second-quarter 2024 financial results on Thursday, August 1, 2024. The company's management will host a conference call and webcast at 8:30 a.m. (ET) to discuss financial results and business highlights.
Investors can access the live webcast on Vericel's Investor Relations website. Participants are advised to register at least 15 minutes before the scheduled start time. For those joining by telephone, registration is required to receive dial-in details and a personal passcode. Presentation slides will be available on the webcast and Investor Relations section. A replay of the webcast will be accessible on Vericel's website until August 1, 2025.
Vericel (NASDAQ: VCEL), a prominent player in sports medicine and severe burn care, announced its participation in the Truist Securities MedTech Conference. The event will feature a fireside chat with President and CEO Nick Colangelo, along with CFO Joe Mara, scheduled for 2:30 p.m. ET on June 18, 2024. Investors and interested parties can access the webcast through Vericel's Investor Relations website.
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