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) announced that Chief Financial Officer Joe Mara will present at the Ladenburg Thalmann Healthcare Conference on September 29, 2022, at 2:30 p.m. ET. This event highlights the company’s commitment to sharing insights about its advanced therapies in sports medicine and burn care. A webcast of the presentation will be accessible via the Investor Relations section of Vericel's website, ensuring that stakeholders can stay informed about the company’s developments.
Vericel Corporation (NASDAQ:VCEL) announced its participation in two upcoming investor conferences. On September 13, 2022, at 8:00 a.m. ET, President and CEO Nick Colangelo and CFO Joe Mara will engage in a fireside chat at the Morgan Stanley 20th Annual Global Healthcare Conference. The following day, September 14, 2022, Joe Mara will present at the H.C. Wainwright 24th Annual Global Investment Conference at 9:00 a.m. ET. Webcasts of both events will be accessible via the Investor Relations section of Vericel's website.
Vericel Corporation (NASDAQ:VCEL) reported second-quarter 2022 net revenue of $37.0 million, a decline from $39.5 million in Q2 2021. MACI® revenue increased to $28.6 million, growing 8% year-over-year. The company posted a net loss of $9.0 million ($0.19 per share) and a 62% gross margin. Operating expenses rose to $31.9 million. Cash resources remain robust at $131 million with no debt. Guidance for total revenue is maintained at $178-$189 million for 2022, with a projected gross margin of 69%.
Data published in the Journal of Burn Care & Research highlights a retrospective study on 40 patients with significant posterior burns treated with Epicel by the Burn and Reconstructive Centers of America. Key findings include an 83% engraftment success rate after one or two applications and a 90% survival rate. The study underscores the effectiveness of standardized treatment protocols for enhancing patient outcomes in severe burns. Epicel is approved for deep dermal or full-thickness burns covering at least 30% of total body surface area.
Vericel Corporation (NASDAQ:VCEL) will announce its second-quarter 2022 financial results on August 3, 2022, at 8:30 a.m. ET. The company specializes in advanced therapies for sports medicine and severe burn care, marketing MACI® and Epicel®, two cell therapy products. A conference call and webcast will follow the results announcement, accessible through their Investor Relations website. Vericel also holds the exclusive North American license for NexoBrid®, a product for severe thermal burns.
Vericel Corporation (NASDAQ:VCEL) reported a 4% increase in total net revenue to $36.1 million for Q1 2022, compared to $34.6 million in Q1 2021. MACI revenue was $26.0 million, while Epicel generated $9.9 million. The company's gross margin stood at 65%, down from 66% a year earlier. However, it experienced a net loss of $7.1 million or $0.15 per share, compared to $3.3 million in Q1 2021. Adjusted EBITDA decreased to $3.2 million. The company maintains its full-year guidance of $178 to $189 million in total revenue.
Vericel Corporation (NASDAQ:VCEL) will host a webcast and conference call on May 4, 2022, at 8:30 AM ET to discuss its Q1 2022 financial results and business highlights. The call will be accessible via the Investor Relations section of the company’s website. Vericel specializes in advanced therapies for sports medicine and severe burn care, offering cell therapy products such as MACI and Epicel, and has an exclusive license for NexoBrid in North America.
Vericel Corporation (NASDAQ:VCEL), known for its advanced therapies in sports medicine and severe burn care, announced that President and CEO Nick Colangelo will present at the Canaccord Genuity Musculoskeletal Conference in Chicago on March 22, 2022, at 11:00 a.m. Central Time. A webcast of the presentation will be accessible via the Investor Relations section of Vericel's website.
Vericel markets two primary cell therapy products: MACI®, for knee cartilage repair, and Epicel®, a skin replacement for severe burns. Additionally, the company holds rights to NexoBrid®, a product for burn debridement.
Vericel Corporation (NASDAQ:VCEL) announced that its President and CEO, Nick Colangelo, will speak at the Cowen 42nd Annual Health Care Conference on March 9, 2022, at 1:30 p.m. ET. The event will be accessible via a webcast on the company's Investor Relations website.
Vericel focuses on advanced therapies for sports medicine and severe burn care, marketing MACI® for knee cartilage repair and Epicel® for severe burns treatment. The company also has rights to NexoBrid® for burn debridement, enhancing its product portfolio.
Vericel Corporation (NASDAQ:VCEL) appointed Jonathan Siegal as Principal Accounting Officer, effective February 16, 2022. Siegal, previously Vice President and Corporate Controller, joined Vericel in September 2021 and brings over 20 years of accounting experience across multiple industries. He held various leadership roles, including Global Controller for Lantheus Medical Imaging. CFO Joe Mara commended Siegal's extensive background in strengthening Vericel's finance team, reflecting the company’s commitment to enhancing its financial leadership.
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