Axogen, Inc. - $AXGN STOCK NEWS

Axogen, Inc. (NASDAQ: AXGN) appoints Nir Naor as CFO, replacing Peter Mariani. Naor brings over 20 years of experience in life sciences finance. The move aligns with the company's focus on revenue growth and profitability.

Axogen, Inc. (NASDAQ: AXGN) announced the induction of Harold D. Tamayo as Vice President of Finance and Investor Relations. Mr. Tamayo brings over 20 years of experience in healthcare and life sciences. He has held leadership roles in companies such as McKesson, Merck, Novartis, and CVS Health. As part of his employment, Mr. Tamayo was awarded an equity grant, including non-qualified stock options to purchase 65,800 shares and non-qualified restricted stock units representing 37,500 shares of the Company’s common stock.

Axogen, Inc. (NASDAQ: AXGN) to present at Piper Sandler 35th Annual Healthcare Conference on November 30, 2023. Karen Zaderej, Chairman, CEO, and President, will speak about innovative surgical solutions for peripheral nerve injuries. The webcast can be accessed live on the Investors page at www.axogeninc.com and will be available for replay for 90 days.

Axogen, Inc. reported a 12% increase in revenue for the third quarter of 2023, reaching $41.3 million. The company also experienced a gross margin of 80.5% and an adjusted net income of $0.7 million. The balance of all cash and cash equivalents and investments on September 30, 2023, was $38.6 million.

Axogen, Inc. to report third quarter 2023 financial results on November 7, 2023

Axogen, Inc. announces full launch of Axoguard HA+ Nerve Protector, expanding opportunities for surgeons to treat nerve protection challenges.

Axogen, Inc. announced CEO Karen Zaderej's participation in two investor conferences in September.

Axogen successfully begins processing Avance Nerve Graft at new processing center, supporting BLA submission and long-term growth.

Axogen reports Q2 2023 financial results with revenue of $38.2 million, an 11% increase YoY. The company estimates that revenues from scheduled non-trauma procedures grew over 20% YoY, while revenues from emergent trauma procedures grew in the low single-digit range. Gross margin was 81.1% for the quarter. Net loss was $6.7 million, compared to $7.7 million in Q2 2022. Adjusted net loss was $1.3 million, compared to $2.6 million in Q2 2022. Adjusted EBITDA loss was $0.2 million. The balance of cash and cash equivalents and investments on June 30, 2023, was $40.8 million. The company successfully initiated the pilot launch of Axoguard HA+ Nerve Protector™ and will fully launch it later this month. The Phase 3 RECON study was published online, showing Avance's superiority in functional recovery. Core Accounts increased by 16% YoY, while Active Accounts increased by 4% YoY. The company completed construction of the Axogen Processing Center (APC) and expects to begin processing tissue in the new facility later this month. The company maintains full-year 2023 revenue guidance of $154 million to $159 million.