Organogenesis Hldgs Inc Stock Price, News & Analysis

Organogenesis Holdings Inc. (Nasdaq: ORGO) has announced significant leadership changes within its Board of Directors. Gary S. Gillheeney, Sr. has been elected as Chair of the Board while continuing as President and CEO, a role he has held since 2014, succeeding Alan A. Ades, who remains a director. Additionally, Arthur S. Leibowitz, a director since 2018, has been appointed as Lead Independent Director. The Board expressed confidence in Gillheeney's leadership and strategic vision, which are expected to drive the company’s growth in the Advanced Wound Care and Surgical and Sports Medicine markets. The company's commitment to integrated healing solutions aims to improve patient outcomes and reduce care costs. However, forward-looking statements indicate potential risks related to competition, reimbursement levels, and product viability.

Organogenesis Holdings Inc. (Nasdaq: ORGO), a key player in regenerative medicine, will release its first quarter 2023 financial results on May 10th after market close. The company specializes in advanced wound care and surgical and sports medicine solutions. Following the release, management will hold a conference call at 5:00 PM ET to discuss financial results and provide a corporate update. Interested parties can access the live webcast or telephone call through provided links. The archived version will be available on the company’s investor website for one year.

Organogenesis Holdings Inc. (ORGO) recently welcomed the U.S. Office of the Inspector General's findings, which indicate that transitioning skin substitute products to average sales price (ASP)-based payments could significantly reduce Medicare Part B expenditures. The report noted that the Centers for Medicare and Medicaid Services (CMS) could save tens of millions of dollars quarterly by adopting this methodology. CEO Gary S. Gillheeney emphasized the potential for improved access to effective treatments and a more stable market for skin substitutes. The company urges CMS to publish ASPs for all skin substitutes in the coming year.

Organogenesis Holdings Inc. (Nasdaq: ORGO) reported a 10% decline in Q4 2022 net revenue, totaling $115.5 million, down from $127.9 million in Q4 2021. The decrease was attributed to a 10% drop in Advanced Wound Care product revenue. Net income fell sharply to $7.5 million, down from $51.0 million year-over-year. For 2022, net revenue was $450.9 million, down 4% from 2021, with net income declining 83% to $15.5 million. Looking ahead, the company expects 2023 net revenue to range between $450.0 million and $462.0 million, indicating flat growth. Organogenesis anticipates solid growth in the hospital outpatient setting while addressing challenges in the physician office environment.

Organogenesis Holdings Inc. (Nasdaq: ORGO) has reported positive results from the interim analysis of its Phase 3 clinical trial for treating knee osteoarthritis symptoms. The analysis, conducted on 50% of the 474 patients enrolled, showed a favorable outcome, allowing the trial to proceed without modifications. The Independent Data Monitoring Committee indicated that safety data aligned with expectations for the ReNu treatment. This trial targets a significant health issue, affecting millions of Americans, and is crucial for patients with moderate to severe symptoms.

Organogenesis Holdings Inc. (Nasdaq: ORGO) has announced it will release its fourth quarter and fiscal year 2022 financial results after market close on March 1, 2023. Management will hold a conference call at 5:00 p.m. ET on the same day to discuss the financial results and provide a corporate update, followed by a Q&A session. Investors can access the live webcast through the company’s website or via teleconference links provided in the announcement. Organogenesis specializes in regenerative medicine, particularly for advanced wound care and surgical markets, offering innovative product solutions to meet patient needs.

Organogenesis Holdings Inc. (Nasdaq: ORGO) will participate in the Cantor Fitzgerald Medical and Aesthetic Dermatology, Ophthalmology, and Medtech Conference on December 8, 2022. Held at The Fontainebleau Miami Beach, the event will feature panel discussions and 1x1 meetings with investors. This conference highlights the company’s focus on regenerative medicine, specifically in advanced wound care and surgical solutions. Organogenesis offers a range of bioactive and acellular biomaterials designed to meet diverse patient needs.

Organogenesis Holdings reported third quarter 2022 results with net revenue of $116.9 million, a 3% increase from $113.8 million in Q3 2021. Advanced Wound Care products generated $109.5 million (+2%), while Surgical & Sports Medicine products rose to $7.3 million (+15%). However, net income dropped to $0.2 million from $12.6 million, a significant decrease of $12.4 million. Adjusted net income also fell sharply to $5.1 million, down 68%. The company revised its full-year revenue guidance, anticipating a challenging Q4 due to competitive pressures and reimbursement uncertainties.