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, Inc. (Nasdaq: MDXG) has established the Cato T. Laurencin Regenerative Engineering Founders’ Award to honor Dr. Cato T. Laurencin's contributions to regenerative engineering. This award, created by the AIChE Foundation and the Regenerative Engineering Society, recognizes leaders advancing convergence research in regenerative engineering. CEO Timothy R. Wright praised Dr. Laurencin's pioneering work, emphasizing MiMedx's commitment to innovation in regenerative medicine. The award will be presented in 2023, acknowledging impactful research and promoting diversity in the field.
Marietta, Ga. - MiMedx Group (Nasdaq: MDXG) announced on August 4, 2022, that its senior management will present at the Canaccord Genuity 42nd Annual Growth Conference in Boston on August 10, 2022, at 3:00 p.m. ET. Interested institutional investors can arrange meetings with senior management through their Canaccord Genuity representatives.
The live webcast can be accessed via the company's website, with a replay available for 30 days post-event. MiMedx specializes in placental biologics, focusing on non-healing wounds and musculoskeletal conditions.
MiMedx Group reported second quarter 2022 net sales of $66.9 million, down 1.9% year-over-year, primarily due to a significant decline in Section 351 product sales. However, the continuing portfolio of products achieved a 11.6% revenue increase, underscoring growth in the Surgical Recovery market. The company reaffirmed its 2022 revenue growth outlook of 11% to 14%. Despite a net loss of $10.9 million, the gross profit margin improved to 82.3%. MiMedx is launching new products and engaging in critical clinical trials, signaling ongoing commitment to growth.
MiMedx Group, Inc. (Nasdaq: MDXG) announced the formation of a Regenerative Medicine Scientific Advisory Board (RMSAB) on July 27, 2022, to enhance its mdHACM placental biologics pipeline. The RMSAB comprises experts in tissue engineering and regenerative medicine who will guide the company's clinical initiatives for knee osteoarthritis and other conditions. CEO Timothy R. Wright highlighted the prestigious board's role in accelerating scientific innovation and expanding therapeutic potentials, aiming to deliver effective treatment options for patients.
MiMedx Group, Inc. (Nasdaq: MDXG) will release its second-quarter financial results for the period ended June 30, 2022, after market close on August 2, 2022. A webcast and conference call will be hosted by senior management on August 3, 2022, at 8:30 a.m. Eastern Time to discuss these results. MiMedx specializes in placental biologics and has provided over two million allografts, focusing on treating acute and chronic non-healing wounds as well as degenerative musculoskeletal conditions.
MiMedx Group, Inc. (Nasdaq: MDXG) has appointed Kate Surdez as the new Chief Human Resources Officer (CHRO), effective July 18, 2022. With over 20 years of HR experience, Surdez has successfully led initiatives in talent acquisition and organizational change for major biotech companies. CEO Timothy Wright expressed confidence in Surdez's ability to enhance the company's talent strategies and alignment with business goals. MiMedx specializes in placental biologics, focusing on innovative treatments for chronic wounds and musculoskeletal conditions.
MIMEDX Group announced a collaboration with Nordic Bioscience Clinical Development to advance its knee osteoarthritis clinical trial program. Image Analysis Group will provide advanced imaging analytics to assess mdHACM as a potential Disease Modifying Osteoarthritis Drug (DMOAD). The registrational trial will use WOMAC Pain and Function as co-primary endpoints. Previous Phase 2B study results showed significant improvement in pain and function metrics. MIMEDX aims to address product potency issues observed in earlier studies to ensure robust efficacy in future trials.
Prescience Point Capital Management, holding approximately 6.7% of MiMedx Group's shares (MDXG), expresses discontent following the company's recent annual meeting. A significant share of non-affiliated voters opposed the re-election of incumbent directors James Bierman and Phyllis Gardner, with 56% and 49% voting WITHHOLD/ABSTAIN, respectively. Additionally, 79% rejected the executive compensation proposal. Prescience Point demands accountability and highlights a disconnect between share price and company value, urging MiMedx leadership to address these concerns or face potential shareholder actions in the next election.
Mariietta, GA, June 7, 2022 - MiMedx Group (NASDAQ: MDXG) announced the reelection of directors Dr. Phyllis Gardner and James L. Bierman during the 2022 Annual Meeting of Shareholders. Shareholders approved all proposals, including the Say-on-Pay and Qualified Employee Stock Purchase Plan. Chair of the Board, Dr. M. Kathleen Behrens, emphasized the Company’s commitment to growth and responsiveness to shareholder feedback on executive compensation. Final voting results will be filed with the SEC.
Prescience Point Capital Management, holding approximately 6.7% of MiMedx Group (MDXG), has expressed concerns over the lack of transparency regarding preliminary voting results from the company's recent annual meeting. The firm suspects that a significant number of shares voted against the re-election of directors and executive compensation proposals. Founder Eiad Asbahi urges MiMedx to disclose voting results to confirm shareholder sentiment. The firm believes that discontent among non-affiliated shareholders could prompt management to prioritize broader shareholder interests.