Welcome to our dedicated page for Vericel Corporation news (Ticker: VCEL), a resource for investors and traders seeking the latest updates and insights on Vericel Corporation stock.
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), a key player in advanced therapies for sports medicine and severe burn care, announced its participation in the Leerink Partners Healthcare Crossroads Conference. The event will take place on May 29, 2024, at 9:40 a.m. ET. Vericel's President and CEO, Nick Colangelo, along with CFO Joe Mara, will represent the company in a fireside chat. Investors and interested parties can access the webcast of the presentation through the Investor Relations section of the Vericel website.
Vericel (NASDAQ:VCEL) reported a 25% increase in total revenue to $51.3 million in the first quarter of 2024. The company achieved record revenue for MACI of $40.2 million and saw a 63% growth in Burn Care revenue. Adjusted EBITDA grew by 325%. The full-year 2024 revenue guidance was raised to $238-$242 million. Vericel had a strong start to the year with significant margin expansion and profitability growth, positioning the company well for continued growth. The company also reported positive progress in new product launches and market penetration.
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