Welcome to our dedicated page for Axogen news (Ticker: AXGN), a resource for investors and traders seeking the latest updates and insights on Axogen stock.
Axogen, Inc. develops and commercializes surgical solutions for peripheral nerve regeneration and repair. The company’s recurring updates center on its portfolio for restoration of peripheral nerve function, including Avance® (acellular nerve allograft-arwx), Avance® Nerve Graft, Axoguard Nerve Connector®, Axoguard Nerve Protector®, Axoguard HA+ Nerve Protector™, Axoguard Nerve Cap®, and Avive+ Soft Tissue Matrix™.
Company news also includes quarterly and annual financial results, revenue guidance, gross margin and cash metrics, investor-conference participation, FDA-related developments for Avance, and capital-structure actions involving common stock. These updates connect operating performance with Axogen’s commercial activity in nerve repair products across its target markets.
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Axogen, Inc. (NASDAQ: AXGN), a leader in surgical solutions for peripheral nerve injuries, announced plans to release its first quarter 2023 financial results on May 9, 2023, before market opening. Management will conduct a conference call at 8:00 a.m. ET to discuss the results, which investors can join via phone or online. Axogen specializes in technologies for nerve regeneration and repair, with a portfolio that includes products like Avance® Nerve Graft and Axoguard Nerve Connector®. These products are designed to restore nerve function and improve patient quality of life. Axogen's innovations are available in multiple countries, demonstrating its international reach and commitment to patient care.
Axogen reported Q4 2022 revenue of $36.2 million, marking a 17% increase compared to Q4 2021. The company logged a net loss of $5.4 million or $0.13 per share, consistent with the previous year. Adjusted net loss improved to $1.1 million from $3.3 million. The full-year revenue reached $138.6 million, up 12% from 2021. The company anticipates 2023 revenue between $154 million and $159 million. Axogen faced challenges with cash management due to $8 million held at Silicon Valley Bank, which became accessible after the FDIC intervention on March 13, 2023.
Axogen, Inc. (NASDAQ: AXGN) announced the appointment of Marc Began as Executive Vice President and General Counsel, effective March 20, 2023, replacing Brad Ottinger. Began brings over 20 years of legal experience from companies like Abiomed and Novo Nordisk. He will oversee legal and compliance activities under the leadership of Karen Zaderej, Chairman and CEO. Additionally, the company reported inducement grants under NASDAQ listing rules, awarding stock options and restricted stock units to both Began and Chief Marketing Officer Jens Schroeder Kemp. These grants include stock options for 90,000 shares for Began, with an exercise price of $8.16.
Axogen (AXGN) has announced it will release its fourth quarter 2022 financial results on March 14, 2023, before market opening. The company specializes in surgical solutions for peripheral nerve injuries and will host a conference call and webcast at 8:00 a.m. ET on the same day. Investors can participate via phone or listen online through the Axogen website. The company emphasizes its commitment to offering innovative, clinically proven solutions to aid in peripheral nerve repair, with a diverse product portfolio available in multiple countries.
Axogen, Inc. (NASDAQ: AXGN) announced the appointment of Jens Schroeder Kemp as Chief Marketing Officer on February 13, 2023. With over 20 years of experience in medical technology, Kemp will lead the company's marketing strategies and report to Karen Zaderej, Chairman and CEO. His previous role was Vice President of Marketing at Ambu Inc., where he significantly contributed to the single-use endoscopy market. The company aims to leverage Kemp's experience to enhance surgeon adoption and drive innovation in its nerve repair solutions, which include products like Avance Nerve Graft and Axoguard.
Axogen, Inc. (NASDAQ: AXGN) announced preliminary unaudited revenue results for Q4 and full-year 2022. Estimated Q4 revenue is about $36.1 million, marking a 16% increase year-over-year when excluding Avive revenue. Full-year revenue is projected at $138.5 million, a 12% increase from 2021. The company reported a cash balance of approximately $55 million at year-end, down from $59.4 million in Q3. Axogen continues to grow with 115 direct sales representatives and aims to submit a BLA for its Avance Nerve Graft in late 2023.
Axogen (NASDAQ: AXGN) announced a study published in Plastic and Reconstructive Surgery, indicating that both allograft and autograft repairs show significantly better rates of meaningful sensory recovery compared to conduit repairs. This comprehensive meta-analysis included over 1,500 nerve repairs across 35 studies. Recovery rates for allograft and autograft were comparable for gaps up to 70mm, while allograft had a better recovery rate (87.1%) in short gaps than conduit (62.2%). Financially, allograft does not impose an increased burden compared to autograft.