Business
Axogen, Inc. Announces Organizational Updates, Preliminary Second Quarter Revenue and Reaffirms Full-Year 2022 Financial Guidance
Organizational updates are part of plan to bring additional focus on leveraging clinical data to accelerate market development and the pace of innovation
About this update from Axogen, Inc.
[{"type":"text","content":"Organizational updates are part of plan to bring additional focus on leveraging clinical data to accelerate market development and the pace of innovation Preliminary unaudited second quarter revenue of approximately $34.4 million Company will report full second quarter results on August 3, 2022. ALACHUA, Fla. and TAMPA, Fla., July 18, 2022 (GLOBE NEWSWIRE) -- Axogen, Inc. (NASDAQ: AXGN), a global leader in developing and marketing innovative surgical solutions for peripheral nerve injuries, today announced organizational updates and preliminary second quarter revenue. The company is making certain changes to its commercial organization designed to leverage the strength of its growing portfolio of clinical data and support innovation of advanced nerve repair solutions. As a result of these changes, the sales organization will report directly to Karen Zaderej, Axogen’s chairman, CEO, and president, and the company anticipates appointing a chief marketing officer in the coming months. Eric Sandberg, the Company’s current chief commercial officer will be leaving the organization effective July 19, 2022. “We are pleased with our performance in the second quarter, and we are encouraged by the strong underlying demand for our products. I would like to thank Eric and wish him well in his future endeavors,” said Karen Zaderej. \"These organizational changes are designed to bring additional focus on market development, innovation and sales execution. We have a robust clinical portfolio, which was recently bolstered by the positive top-line results of our RECON study. We plan to leverage this data to drive increased surgeon engagement and adoption, while also supporting an accelerating pace of innovation of advanced nerve repair solutions.” Second Quarter Business Update Preliminary unaudited second quarter revenue is expected to be approximately $34.4 million, representing a 2% increase over the prior year period, and an 8% increase when excluding the impact of $1.8 million revenue of Avive® Soft Tissue Membrane in the second quarter of 2021. The company voluntarily suspended market availability of Avive on June 1, 2021.Company is reaffirming its full-year 2022 financial guidance of revenue between $135 and $142 million, and gross margin above 80%.The company will provide further business updates, along with its second quarter 2022 financ...