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) has appointed Patrick J. Fowler as Senior Vice President of Corporate Development and Strategy, effective immediately. With over 15 years of experience in business development within the biotech sector, Fowler previously led strategy and operations at Sanofi, enhancing corporate growth and development strategies. The company anticipates Fowler's expertise will drive growth and enhance its innovative product portfolio, which includes MACI® and Epicel® for sports medicine and burn care.
Vericel Corporation (NASDAQ:VCEL) reported a **97%** increase in **total net revenue** for Q2 2021, reaching **$39.5 million**. Key products contributed with **MACI®** revenue at **$26.5 million** and **Epicel®** at **$12.2 million**. The company improved its gross margin to **68%** from **57%** year-over-year. Although net loss decreased to **$3.8 million** from **$8.3 million**, operating expenses rose to **$30.6 million**. Cash reserves increased to **$116 million**. Full-year revenue guidance was raised to **$168-$171 million**, indicating strong business momentum.
Vericel Corporation (NASDAQ:VCEL) will host a webcast and conference call on August 4, 2021, at 8:30 AM EDT to discuss its second-quarter 2021 financial results. Investors can join the call via telephone or through the company’s website. The presentation slides will also be available online. Vericel is known for its advanced therapies in sports medicine and severe burn care, marketing products like MACI® and Epicel®. The call will be accessible for replay until August 11, 2021. For further details, visit the Vericel investor relations page.
Vericel Corporation (NASDAQ:VCEL), a leader in advanced therapies for sports medicine and severe burn care, announced that CEO Nick Colangelo will present at the Ladenburg Thalmann Healthcare Conference on July 13, 2021, at 9:00 a.m. Eastern Time. A live webcast of the presentation will be available on the company’s Investor Relations website. Vericel markets two key cell therapy products: MACI®, for knee cartilage repair, and Epicel®, a permanent skin replacement for severe burns. The company also has exclusive rights to NexoBrid®, a biological product for burn debridement.
Vericel Corporation (NASDAQ:VCEL) announced that its partner, MediWound Ltd., received a complete response letter (CRL) from the FDA regarding the Biologics License Application for NexoBrid, a treatment for severe burns. The FDA cited issues in the Chemistry, Manufacturing, and Controls (CMC) section, requiring additional information and inspections, which were hindered by COVID-19 travel restrictions. The FDA also highlighted concerns from good clinical practice inspections affecting the study's efficacy. Vericel remains committed to addressing these issues to expedite NexoBrid's approval.
Vericel Corporation (NASDAQ:VCEL) announced that CEO Nick Colangelo will present a company overview at the Goldman Sachs 42nd Annual Global Healthcare Conference on June 10, 2021, at 4:40 p.m. Eastern Time. The event will be conducted virtually, allowing investors to access a live webcast via the Investor Relations section of Vericel's website. Vericel specializes in advanced therapies for sports medicine and severe burn care, offering MACI and Epicel as leading cell therapy products.
Vericel Corporation (NASDAQ:VCEL) announced the immediate appointment of Lisa Wright to its Board of Directors. With Ms. Wright's addition, the Board now comprises eight directors, seven of whom are independent. Wright, President and CEO of Community Health Choice, has extensive experience in the healthcare sector, having held leadership positions at WellCare and UnitedHealth Group. Her expertise in payer and provider environments is expected to enhance Vericel's strategic initiatives and growth trajectory. This appointment underscores the company's commitment to diverse skills on its Board.
Vericel Corporation (NASDAQ:VCEL) announced that its President and CEO, Nick Colangelo, will present an overview of the company at the Canaccord Genuity Virtual Musculoskeletal Conference. The presentation is scheduled for May 20, 2021, at 9:30 a.m. Eastern Time. Interested parties can access a live webcast through the Investor Relations section of the Vericel website.
Vericel specializes in advanced therapies for sports medicine and severe burn care, offering innovative products such as MACI® and Epicel®.
Vericel Corporation (NASDAQ:VCEL) reported a 30% increase in total net revenue for Q1 2021, reaching $34.6 million, up from $26.7 million in Q1 2020. Notable revenue contributions include $23.8 million from MACI® and $9.8 million from Epicel®. The gross margin improved to 66%, and adjusted EBITDA rose to $4.6 million. Full-year revenue guidance is raised to $165-$168 million.
Vericel ended Q1 with $110 million in cash and no debt, indicating a strong financial position.
Vericel Corporation (NASDAQ:VCEL) has scheduled a conference call on May 5, 2021, at 8:30 am (EDT) to discuss its first-quarter 2021 financial results. The earnings call can be accessed live on the company's website. Vericel specializes in advanced therapies for sports medicine and severe burn care, marketing MACI® and Epicel® cell therapy products in the U.S. The company also holds commercial rights to NexoBrid®, aimed at severe thermal burns. For further details, investors can visit the Investor Relations section of the Vericel website.
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