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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), 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.
Vericel Corporation (NASDAQ:VCEL) announced that Nick Colangelo, President and CEO, will present at the 39th Annual J.P. Morgan Healthcare Conference on January 14, 2021, at 11:40 a.m. Eastern Time. This virtual conference will showcase an overview of the company, renowned for its advanced therapies in sports medicine and severe burn care. A live webcast of the presentation can be accessed on the Investor Relations section of Vericel's website.
Vericel Corporation (NASDAQ:VCEL) announced its third quarter results for 2020, reporting total net revenues of $32.3 million, an increase from $30.5 million in Q3 2019. MACI® generated $24.4 million, while Epicel® and NexoBrid® brought in $6.7 million and $1.2 million, respectively. The company achieved a gross margin of 70% and net income of $3.6 million or $0.08 per share. Operating cash flow stood at $4.6 million, and cash reserves reached $85.5 million. The FDA has accepted NexoBrid's Biologics License Application with a PDUFA goal date of June 29, 2021.
Vericel Corporation (NASDAQ:VCEL), a leader in advanced therapies for sports medicine and severe burn care, announced its participation in upcoming investor conferences. The company will present at the Credit Suisse 29th Annual Healthcare Conference on November 9, 2020, at 2:45 PM EST, and at the Stifel 2020 Virtual Healthcare Conference on November 16, 2020, at 2:40 PM EST. A live webcast will be available on the company's Investor Relations website.
Vericel Corporation (NASDAQ:VCEL) announced its upcoming third-quarter 2020 earnings call scheduled for November 5, 2020, at 8:30 AM EDT. The call will provide a detailed discussion on the company's financial results and business highlights. Interested parties can join the live call via the Vericel website or by phone. Key products include MACI® for cartilage repair and Epicel® for severe burns. The company also holds North American rights to NexoBrid®, aimed at severe thermal burn treatment.
Vericel Corporation (NASDAQ:VCEL) reported preliminary financial results for Q3 2020, with total net revenues of approximately $32 million, including $24.2 million from MACI, $6.7 million from Epicel, and $1.2 million from NexoBrid. The company generated $4.6 million in operating cash flow, holding $85.5 million in cash with no debt. CEO Nick Colangelo expressed optimism for continued growth in MACI, despite uncertainties due to COVID-19. Key investor events are scheduled for October 16 and November 5.
Vericel Corporation (NASDAQ: VCEL) will host a virtual Analyst and Investor Day on October 16, 2020, from 9:00 a.m. to 11:00 a.m. ET. Executives will provide updates on U.S. commercialization plans for NexoBrid, a product aimed at the debridement of severe burns, and discuss its potential impact on current burn treatment practices. The event will feature burn surgeon thought leaders. Interested parties can access the live webcast and a subsequent replay through their investor relations website.
Vericel Corporation (NASDAQ: VCEL) announced on September 16, 2020, that the FDA has accepted its Biologics License Application for NexoBrid® to treat deep partial-thickness and full-thickness thermal burns. The FDA set a PDUFA target date of June 29, 2021, without plans for an advisory committee meeting. CEO Nick Colangelo emphasized the significance of this milestone in establishing a new standard of care for burn treatment, while MediWound's CEO expressed gratitude to partners involved in the development. Vericel will host a virtual Analyst and Investor Day on October 16, 2020, to discuss NexoBrid's potential impact.
Vericel Corporation (NASDAQ: VCEL) announced that Nick Colangelo, its President and CEO, will present at the 18th Annual Morgan Stanley Global Healthcare Conference on September 17, 2020, at 2:45 p.m. ET. The conference will be conducted virtually, and the presentation will be accessible via a live webcast on Vericel's Investor Relations website. Vericel specializes in advanced therapies for sports medicine and severe burn care, with products like MACI® and Epicel®. The company also holds exclusive North American rights to NexoBrid® for burn treatment.
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