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 Corporation (NASDAQ:VCEL) is scheduled to report its first-quarter 2023 financial results on May 10, 2023. The company specializes in advanced therapies for sports medicine and serious burn care, offering products such as MACI® and Epicel®. A conference call will take place at 8:30 a.m. (ET) to discuss the results and key business highlights, accessible through the Investor Relations section of its website. Interested participants should register in advance to obtain dial-in details. A replay will be available until May 10, 2024.
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