MiMedx Group, Inc. develops and commercializes regenerative biomaterial products for wound care, burn and surgical applications. Its updates center on placental allografts and related advanced wound care technologies, including AMNIOFIX, CHORIOFIX and G4Derm Plus, as the company adds product configurations, distribution rights and clinical evidence for complex wound management.
Company news also covers operating results for the Wound and Surgical businesses, reimbursement-driven market conditions, cost-reduction actions, investor presentations, conference participation and capital actions such as share repurchase authorization.
MiMedx Group has appointed Ricci S. Whitlow as Chief Operating Officer, effective January 3, 2023. With over 30 years of experience in the MedTech industry, Whitlow is expected to enhance MIMEDX’s operational leadership in manufacturing, supply chain, and regulatory functions. Formerly President of Clinical Supply Services at Catalent, she aims to leverage her expertise to navigate complex regulatory changes and drive growth. Interim CEO Todd Newton emphasized the importance of this role for the company's future and its mission in placental biologics.
MiMedx Group, Inc. (Nasdaq: MDXG) has licensed exclusive rights to Turn Therapeutics’ antimicrobial technology, PermaFusion®, to enhance product development for wound and surgical recovery. This agreement aims to expedite the introduction of new biologic products, leveraging Turn's nanodroplet technology and antimicrobial properties. Furthermore, MiMedx is also acquiring commercial rights to Turn's FleX™ AM product, pending FDA clearance, expanding its portfolio in the wound care market.
Marietta, Ga., Nov. 10, 2022 – MiMedx Group (Nasdaq: MDXG), a placental biologics company, announced its participation in two upcoming investor conferences. Senior management will present at the Canaccord Genuity MedTech Forum on November 17, 2022, at 9:30 AM ET, and at the Piper Sandler 34th Annual Healthcare Conference on November 30, 2022, also at 9:30 AM ET. Webcasts for both events will be available on the company's website. MiMedx specializes in developing and distributing placental tissue allografts for non-healing wounds and degenerative musculoskeletal conditions.
MiMedx Group reported third quarter net sales of $67.7 million, a 7.3% increase compared to the prior year. This growth was driven by the Surgical Recovery market and initial contributions from new products, AMNIOEFFECT™ and AXIOFILL™. However, the company also faced challenges, including a net loss of $8.4 million, up from $2.3 million the previous year. Operating expenses increased to $53.5 million, reflecting higher sales commissions and travel costs. Looking ahead, MiMedx anticipates fourth quarter sales of $73 to $76 million.
MiMedx Group, Inc. (MDXG) will report its third-quarter financial results for the period ended September 30, 2022, after market close on November 2, 2022. The company's management will host a conference call and webcast at 5:00 p.m. ET that day to discuss the results. MiMedx specializes in placental biologics and has supplied over two million allografts to address acute and chronic non-healing wounds. The company utilizes proprietary methods, including the PURION® process, to produce its allografts.
Marietta, GA, Oct. 4, 2022 – MiMedx Group, Inc. (NASDAQ: MDXG) has appointed Matt Notarianni as the new Head of Investor Relations, effective immediately. With over 15 years of experience in healthcare-focused financial services, Notarianni aims to enhance relationships with the investment community. Interim CEO K. Todd Newton expressed enthusiasm about Notarianni’s capabilities in amplifying the company’s story and engaging with investors. Jack Howarth will continue to support IR until his retirement at year-end.
MiMedx Group, Inc. (Nasdaq: MDXG) announced the launch of AXIOFILL, an extracellular matrix particulate derived from human placental tissue, aimed at the $1 billion surgical recovery market. This product stands out as the first human placental-derived particulate, providing a competitive edge over animal-based alternatives. The innovative PURION® technique preserves the natural tissue structure, enhancing its clinical utility for complex wounds. With AXIOFILL, MiMedx continues to focus on customer-driven innovation, reaffirming its commitment to meet the diverse needs of surgeons.
MiMedx Group (MDXG) has launched AMNIOEFFECT, a tri-layer PURION® processed human tissue allograft designed for diverse surgical applications. This new product enhances the Surgical Recovery portfolio and aims to penetrate the growing $1 billion surgical recovery market. Initial usage in over 50 cases has shown promising handling characteristics and effectiveness in complex procedures. Company President Rohit Kashyap noted strong surgeon interest, indicating AMNIOEFFECT addresses significant unmet needs in the field. The product supports healing by providing a biocompatible extracellular matrix.
MiMedx Group, Inc. (MDXG) has received approval from the Japanese Ministry of Health for the reimbursement of EPIFIX®, marking a significant advancement for treating hard-to-heal diabetic and venous ulcers. With an estimated $500 million market potential, the company plans to launch EPIFIX in Japan by Q4 2022. The reimbursement rate is set at 35,100 Yen/cm2, supporting market adoption. Early physician interest indicates strong potential for revenue growth, with over 400,000 qualifying wounds annually. MiMedx is finalizing distributor agreements and training as part of its market entry strategy.
K. Todd Newton has been appointed as the interim Chief Executive Officer of MiMedx Group (Nasdaq: MDXG), effective immediately, replacing Timothy R. Wright, who led since May 2019. The Board, aiming to enhance performance and focus on business opportunities, established a Search Committee for a permanent CEO. Newton, with nearly twenty years in senior leadership roles and significant med-tech expertise, previously served as CEO at Apollo Endosurgery. Despite a projected 11% to 14% growth in Advanced Wound Care product sales for 2022, the company anticipates softer summer sales due to ongoing COVID-19 effects.