Organogenesis Hldgs Inc Stock Price, News & Analysis

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.

Organogenesis Holdings Inc. (Nasdaq: ORGO) announced that it will report its third quarter fiscal year 2022 financial results on November 9, 2022, after market closure. A conference call will follow at 5:00 p.m. ET on the same day, offering a corporate update and a Q&A session. Interested participants can access the call via a live webcast or teleconference, with an archived version available on the company’s website for one year. Organogenesis focuses on regenerative medicine solutions for advanced wound care and surgical markets.

Organogenesis Holdings Inc. (Nasdaq: ORGO) has announced its participation in the Morgan Stanley 20th Annual Global Healthcare Conference, taking place from September 12-14, 2022, at the Sheraton New York Times Square Hotel. The management will engage in a fireside chat on September 13 at 11:45 a.m. Eastern Time. A live audio webcast of the presentation will be available on the company’s website, with a replay accessible for 30 days post-conference. Organogenesis specializes in regenerative medicine, focusing on advanced wound care and surgical solutions.

Organogenesis Receives FDA Clearance for PuraPly MZ

On August 15, 2022, Organogenesis announced the FDA clearance of PuraPly MZ, an innovative powdered product for complex surgical wounds. This marks a significant milestone as it expands their PuraPly portfolio into the surgical and sports medicine markets. PuraPly MZ utilizes native structured collagen to enhance healing in complex wounds, addressing a pressing need in the medical community, with estimates indicating that 28% of surgical sites in the U.S. require specific attention for effective healing.