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 CFO Joe Mara will present at the H.C. Wainwright Virtual Global Life Sciences Conference. The presentation will provide a company overview and will be accessible via webcast on March 9, 2021, at 7:00 a.m. ET. Vericel specializes in advanced therapies for sports medicine and severe burns, marketing two major products: MACI® for cartilage repair and Epicel® for skin replacement in burn patients. The company also holds rights to NexoBrid®, aimed at severe thermal burn debridement.
Vericel Corporation (NASDAQ:VCEL) reported strong financial results for Q4 2020, with total net revenue increasing 15% to $45.2 million. Key highlights include MACI® revenue of $34.7 million and Epicel® revenue of $9.6 million, contributing to a gross margin of 74%. The company achieved a net income of $12.2 million ($0.25 per share), up from $9.5 million in Q4 2019. For full-year 2021, total net revenue is expected to grow 30%-32%, aiming for approximately $161 to $164 million. Analysts will discuss these results in today's conference call at 8:30 AM ET.
Vericel Corporation (NASDAQ:VCEL) announced that its President and CEO, Nick Colangelo, will present a company overview at the SVB Leerink 10th Annual Global Healthcare Conference. The virtual presentation is scheduled for February 25, 2021, at 10:00 a.m. Eastern Time. A live webcast will be accessible through the Investor Relations section of the Vericel website. Vericel specializes in advanced therapies in sports medicine and severe burn care, marketing products like MACI® and Epicel®.
Vericel Corporation (NASDAQ:VCEL) announced that its President and CEO, Nick Colangelo, along with CFO Joe Mara, will engage in a fireside chat at the BTIG Virtual MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 18, 2021, at 3:00 PM ET. A live webcast of the event will be accessible through the Investor Relations section of Vericel's website. The company leads in advanced therapies for sports medicine and severe burn care, marketing products like MACI® and Epicel®.
Vericel Corporation (NASDAQ:VCEL) announced the termination of its shareholder rights agreement, or "poison pill," which was set to expire on August 15, 2021. This action accelerates the expiration to February 11, 2021, with no required action from shareholders. CEO Nick Colangelo emphasized that this termination aligns with the company's goal of enhancing governance policies for shareholders.
Vericel specializes in advanced therapies for sports medicine and severe burn care, marketing products such as MACI® and Epicel® for cartilage repair and skin replacement, respectively.
Vericel Corporation (NASDAQ:VCEL) announced a conference call for its fourth-quarter 2020 financial results on February 24, 2021, at 8:30 AM EST. The call will be available live via the Investors section of Vericel's website. The company specializes in advanced therapies for sports medicine and severe burn care, marketing cell therapy products MACI® and Epicel®. Additionally, it has exclusive rights for NexoBrid®, targeted toward severe thermal burns. For more information, visit Vericel's website.
Vericel Corporation (NASDAQ:VCEL) has appointed Joe Mara as its new Chief Financial Officer, effective immediately. With over 20 years of experience, including significant roles in the biotech sector at Biogen, Mara is expected to enhance Vericel's financial strategies. His background includes leadership in global financial planning and operations. Nick Colangelo, CEO, expressed confidence that Mara's expertise will support the company's growth in advanced therapies for sports medicine and severe burn care. Mara highlighted his excitement about Vericel's innovative product potential and growth opportunities.
Vericel Corporation (NASDAQ: VCEL) announced its preliminary financial results for the fourth quarter and full year ended December 31, 2020, highlighting a record total revenue range of $44.9-$45.4 million for Q4, a 15% increase year-over-year. Total product revenues for 2020 reached $123.9-$124.4 million, driven by strong sales of MACI and Epicel. Despite a healthy performance, the company experienced scheduling delays and cancellations due to COVID-19, with an estimated $2 million in revenue potentially deferred to 2021. Cash increased to approximately $100 million with no debt.
Vericel Corporation (NASDAQ:VCEL), a leader in advanced therapies for sports medicine and severe burn care, announces that Nick Colangelo, President and CEO, will present a company overview at the 23rd Annual Needham Growth Conference. The virtual presentation is scheduled for January 15, 2021, at 1:15 p.m. Eastern Time. A live webcast will be available on the Investor Relations section of the Vericel website. Vericel specializes in cell therapy products such as MACI® and Epicel® for cartilage defects and severe burns, respectively.
Vericel Corporation (NASDAQ:VCEL) announced that UnitedHealthcare will expand its medical policy for MACI® to cover individuals with full-thickness cartilage defects in the patella and multiple knee defects. This policy change is set to take effect on February 1, 2021, providing coverage for over 26 million lives, making UnitedHealthcare the largest commercial payer in the U.S. CEO Nick Colangelo emphasized that this move aligns with MACI's label and will enhance patient access and support growth for the therapy in the future.
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