Mimedx Group Inc Stock Price, News & Analysis

Marietta, Ga., May 5, 2022 - MiMedx Group (Nasdaq: MDXG) announced participation in two upcoming investor conferences. The Bank of America Securities 2022 Healthcare Conference will feature a fireside chat on May 10 at 12:15 PM PT / 3:15 PM ET, accessible via webcast. The H.C. Wainwright Global Investment Conference will occur on May 24 at 10:00 AM ET, also available via webcast.

MiMedx Group reported first quarter 2022 net sales of $58.9 million, reflecting a 1.8% decline from the prior year. However, the continuing portfolio of tissue and cord products achieved a 13% year-over-year growth.

The company reported a net loss of $10.5 million, worsening from a net loss of $8.4 million in the previous year. The gross profit margin stood at 83.1%, slightly down from 83.9% year-over-year.

MiMedx maintained its 2022 sales outlook, expecting growth of 11% to 14% for its Advanced Wound Care products.

MIMEDX Group, Inc. (NASDAQ: MDXG) has responded to Prescience Point Capital's Schedule 13D filing, urging shareholders to support its Board of Directors. The Company emphasizes its commitment to governance, citing 46 engagements with Prescience Point since June 2019. Allegations against the Board, including attempts by Mr. Asbahi to replace directors, are rejected. The Board asserts its dedication to enhancing shareholder value through strategic initiatives in the placental biologics market. Shareholders are encouraged to vote for the Board's nominees in the upcoming Annual Meeting on June 7, 2022.

MiMedx Group, Inc. (Nasdaq: MDXG) will announce its first-quarter financial results on May 3, 2022, after market close. Senior management will review these results in a conference call on May 4, 2022, at 8:30 a.m. Eastern Time. MiMedx specializes in placental tissue allografts for treating chronic wounds and musculoskeletal conditions, employing proprietary methods like the PURION® process. Since inception, over two million allografts have been distributed.

MiMedx Group, Inc. (MDXG) will sponsor a lunch symposium at the Symposium on Advanced Wound Care from April 6-10, 2022, in Phoenix, Arizona. The symposium will showcase data on the effectiveness of EPIFIX in treating chronic wounds, emphasizing its role in reducing amputations in diabetic ulcers. The company will also present three poster abstracts on its PURION® processed allografts. These efforts aim to improve treatment standards for diabetic ulcer patients and highlight the cost-effectiveness of advanced wound care strategies.

On March 16, 2022, WoundGenex announced a strategic partnership with MiMedx Group (Nasdaq: MDXG) to launch the exclusive Premier Graft Program. This initiative aims to provide clinicians across the U.S. access to leading allograft products without upfront costs. WoundGenex will facilitate product ordering and streamline reimbursement processes for providers. MiMedx's EPIFIX® is covered by national commercial payors for diabetic foot ulcers, affecting over 300 million covered lives. This collaboration is expected to enhance access to advanced wound care solutions for patients.

Marietta, Ga. - March 15, 2022 - MiMedx Group (Nasdaq: MDXG) announced that CEO Timothy R. Wright and CFO Peter M. Carlson will present at the Canaccord Genuity Musculoskeletal Conference in Chicago on March 22 at 10:30 AM CDT. Institutional investors interested in meeting the management can contact their Canaccord Genuity representative. A live webcast will be available on the Company’s website and a replay will be accessible for 30 days post-event. MiMedx specializes in placental biologics, addressing acute and chronic wounds as well as musculoskeletal conditions.

MiMedx Group (MDXG) reported fourth quarter net sales of $67.4 million, slightly down from $68.5 million in 2020. For the full year, net sales reached $258.6 million, reflecting a 7.1% increase year-over-year. The company's Advanced Wound Care products saw a 15% growth in 2021. However, the net loss for the year was $10.3 million, improved from $49.3 million in 2020. Looking ahead, MiMedx expects a sales growth of 11% to 14% in 2022 and plans to initiate a Phase 3 clinical trial for knee osteoarthritis.

MiMedx Group, Inc. (MDXG) announced a peer-reviewed study showing the cost-effectiveness of its PURION^® processed DHACM allografts in treating lower extremity diabetic ulcers. Analyzing 1.2 million Medicare patients, the study found that DHACM reduced amputations and healthcare costs, saving $3,670 per patient in the first year and providing an additional 0.013 quality-adjusted life years. The findings suggest significant potential savings of nearly $22 million annually for a one-million-person plan, highlighting the economic benefits for patients and healthcare systems.