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.
Vericel Corporation (NASDAQ:VCEL) announced that its President and CEO, Nick Colangelo, will present at the Canaccord Genuity Musculoskeletal Conference on March 7, 2023, at 12:30 p.m. ET. A webcast of this presentation can be accessed through Vericel's Investor Relations website. The company specializes in advanced therapies for sports medicine and severe burn care, offering products like MACI®, an autologous scaffold for knee cartilage defects, and Epicel®, a permanent skin replacement for severe burns. Vericel also holds exclusive rights to NexoBrid® for burn treatment. For further details, visit the company's official website.
Vericel Corporation (NASDAQ:VCEL) reported robust financial results for Q4 and full-year 2022, with total revenue reaching $52.7 million in Q4, a 31% increase in net income, and total annual revenue of $164.4 million. MACI revenue contributed $132 million for 2022, showing a 24% year-over-year growth in Q4. The company anticipates 2023 total revenue between $180 million and $188 million with MACI revenue estimated at $152 million to $156 million. Notably, Vericel achieved FDA approval for NexoBrid, paving the way for further growth.
Vericel Corporation (NASDAQ: VCEL) is set to report its fourth-quarter 2022 financial results on February 23, 2023. Management will host a conference call and webcast at 8:30 a.m. (ET) to discuss these results along with important business highlights. Interested participants can access the live webcast on Vericel's Investor Relations page and register for the call via the provided link to receive dial-in details. A replay will be available on their website until February 23, 2024. Vericel specializes in advanced therapies for sports medicine and severe burn care, marketing notable products like MACI® and Epicel®.
Vericel Corporation (NASDAQ:VCEL) reported preliminary financial results for 2022, with total revenue expected between $164 to $165 million. MACI revenue is expected at around $132 million, while Burn Care revenue approximates $32.5 million. Notably, MACI revenue is anticipated to grow by 24% in Q4 compared to the previous year. The company plans to accelerate the launch of MACI’s arthroscopic delivery to 2024 and expects positive adjusted EBITDA for the tenth consecutive quarter. As of year-end 2022, Vericel had around $140 million in cash, with no debt.
Kytopen, a biotechnology firm, has appointed Dr. Paul K. Wotton as the new Chair of its Board of Directors. With 35 years of experience in the biopharmaceutical industry, Dr. Wotton aims to enhance Kytopen's strategic growth by leveraging its innovative non-viral delivery technology for gene-modified cell therapies. Kytopen, co-founded by Dr. Paulo Garcia, focuses on making the process of cell therapy discovery more efficient and accessible. This leadership change is poised to align with the company’s mission to improve patient access to advanced living medicines.
Vericel Corporation (NASDAQ:VCEL) announced that President and CEO Nick Colangelo will present at the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, at 10:30 a.m. ET. The presentation will focus on the company's advancements in sports medicine and severe burn care. A webcast will be available on the Investor Relations section of the Vericel website. Vericel is known for its cell therapy products, including MACI® and Epicel®, addressing cartilage defects and severe burns, respectively.
Vericel Corporation (NASDAQ:VCEL) has announced FDA approval for NexoBrid (anacaulase-bcdb), aimed at non-surgical eschar removal in adults with deep partial- and full-thickness thermal burns. The approval stems from the pivotal Phase 3 DETECT trial, which revealed a significantly higher rate of complete eschar removal compared to placebo, alongside reduced surgical intervention rates. NexoBrid is expected to launch commercially in the U.S. by Q2 2023, promising to address the unmet needs in burn care and potentially establishing itself as the new standard for treatment.
Vericel Corporation (NASDAQ:VCEL) announced its leadership's participation in two upcoming conferences. Nick Colangelo, President and CEO, will present at the Canaccord Genuity MedTech, Diagnostics, and Digital Health & Service Forum on November 17, 2022, at 10:00 a.m. ET. Joe Mara, CFO, will follow at the Stephens Annual Investment Conference at 11:00 a.m. ET on the same day. Webcasts of the presentations will be available on Vericel's Investor Relations website. The company specializes in advanced therapies for sports medicine and severe burn care.
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