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 (Nasdaq: MDXG) has announced its upcoming fourth quarter and full year 2024 financial results release, scheduled for after market close on Wednesday, February 26, 2025. The company's senior management team will host a webcast and conference call at 4:30 p.m. Eastern Time to discuss the results.
Investors can access the conference call through a webcast or by phone, with separate dial-in numbers provided for U.S. (877-407-6184) and international investors (201-389-0877). A replay of the webcast will be available on the MIMEDX website for approximately 30 days following the event.
MIMEDX (NASDAQ: MDXG) has filed a patent infringement lawsuit against Surgenex in the U.S. District Court for the District of Arizona. The lawsuit alleges that several of Surgenex's placental allograft products infringe on MIMEDX's patents, seeking permanent injunctive relief and monetary damages. This is the second lawsuit against Surgenex, following earlier litigation regarding alleged corporate raiding and unfair competitive practices. MIMEDX, holding over 70 patents in the placental allograft category, plans to expand its investigation into potential patent infringements by other competitors amid the increasing number of skin substitutes entering the market.
MIMEDX Group (Nasdaq: MDXG) has announced its senior management's participation in three upcoming investor conferences in December 2024. The schedule includes:
- Mizuho Health Care Conference on Wednesday, December 11, featuring one-on-one sessions in New York, NY
- Northland Growth Conference on Thursday, December 12, with virtual one-on-one sessions
- Stifel MedTech West Coast Bus Tour on Thursday, December 12, offering one-on-one sessions in Palo Alto, CA
Interested investors can arrange meetings with MIMEDX senior management through their respective Mizuho, Northland Capital, or Stifel representatives.
MIMEDX Group (NASDAQ: MDXG) announces significant changes to Local Coverage Determinations (LCDs) for skin substitute grafts, effective February 12, 2025. The revised LCDs include key modifications: patient treatment applications increased from 4 to 8, and treatment duration extended from 12 to 16 weeks. Over 200 unproven skin substitutes will no longer be covered, while MIMEDX's EPIFIX® and EPICORD® remain on the covered products list. The company highlights that Medicare spending on skin substitutes has reached over $1 billion per month, representing a 20-fold increase over five years, which these changes aim to address.
MIMEDX Group (NASDAQ: MDXG) has announced its senior management's participation in two upcoming investor conferences in New York. The company will attend the Stifel Healthcare Conference 2024 on Monday, November 18, with a webcast scheduled for 9:45 AM ET, and the 15th Annual Craig-Hallum Alpha Select Conference on Tuesday, November 19. Investors interested in meeting with MIMEDX management at these events should contact their Stifel or Craig-Hallum representatives.
MIMEDX (MDXG) reported Q3 2024 net sales of $84 million, up 3% year-over-year, with GAAP net income of $8 million and earnings per share of $0.05. The company achieved an Adjusted EBITDA of $18 million, representing a 22% margin. Growth was driven by AMNIOEFFECT® and EPIEFFECT® products, along with the newly launched HELIOGEN® product. Gross margin remained stable at 81.8%. The company raised its 2024 net sales growth expectations to high single-digits and maintains its Adjusted EBITDA margin target above 20%.
MIMEDX Group, Inc. (Nasdaq: MDXG) has announced its plans to report operating and financial results for the third quarter ended September 30, 2024. The company will release these results after the market close on Wednesday, October 30, 2024. Following this, the MIMEDX senior management team will host a webcast and conference call to review the results, beginning at 4:30 p.m. Eastern Time on the same day.
Investors can access the conference call through various means, including a webcast link, U.S. and international investor phone numbers, and a conference ID. Additionally, a replay of the webcast will be available for approximately 30 days on the company's website following the event.
MIMEDX Group, Inc. (Nasdaq: MDXG) highlighted a New York Times article on placental allografts for treating hard-to-heal, acute, and chronic wounds. The article, titled 'Her Face Was Unrecognizable After an Explosion. A Placenta Restored It,' emphasizes the benefits of placental allografts in various wound care and surgical procedures. It also raises awareness about the opportunity for mothers to donate placentas after healthy C-section deliveries, which MIMEDX uses to produce most of its products.
The article features two patients from MIMEDX's 'Patient Story' series, showcasing their remarkable recoveries using the company's products. MIMEDX CEO Joseph H. Capper believes this article, along with a recent Nature – Scientific Reports publication, will increase awareness about the unique properties and growing clinical use of placental-derived products for treating chronic and hard-to-heal wounds.
MIMEDX Group, Inc. (Nasdaq: MDXG) announced its participation in the Symposium on Advanced Wound Care (SAWC) Fall meeting from October 2-5 in Las Vegas. The company will showcase its allograft portfolio and latest scientific and clinical evidence. Key events include:
1. A sponsored lunch symposium on the evolving wound care landscape.
2. A hands-on skills lab focusing on managing lower extremity wounds.
3. Seven accepted poster presentations covering clinical and scientific research.
MIMEDX will also have representatives at booth 511 to discuss product news and clinical information. Dr. John R. Harper, MIMEDX Chief Scientific Officer, emphasized the company's leadership in expanding understanding of placental tissue's characteristics and potential clinical benefits, particularly in inflammation and epithelialization.
Ten former employees of MiMedx Group (NASDAQ: MDXG) have filed counterclaims against the company in response to a non-compete lawsuit. The counterclaims allege that MiMedx engaged in schemes to defraud Medicare and pressured healthcare providers to use medically unnecessary products on vulnerable patients. The former employees claim they were forced to leave due to MiMedx's alleged wrongdoing, including attempts to sell products without proper FDA approval.
The counterclaims reference a December 20, 2023 FDA warning letter to MiMedx's CEO regarding the AXIOFILL product. Employees allege that MiMedx's lack of transparency about this issue led them to seek employment elsewhere. The legal action, filed by attorneys at Mintz and Fellows Labriola, portrays MiMedx's original lawsuit as an intimidation tactic against whistleblowers.