Organogenesis Holdings Inc. · NASDAQ:ORGO
Organogenesis — Investor Presentation (March 2020)
38 slides from Organogenesis's investor presentation, Mar 9, 2020
Slide 1: Corporate Presentation March 2020
Corporate Presentation March 2020 Exhibit 99.2
Slide 2: Forward-looking statements
Unless the context indicates otherwise, the terms “Organogenesis,” “Company,” “we,” “us” and “our” refer to Organogenesis Holdings Inc. (formerly known as Avista Healthcare Public Acquisition Corp.), a Delaware corporation. References in this presentation to the “Business Combination” refer to the c
Slide 3: Non-GAAP financial measures
This Company has presented the following measures that are not measures of performance under accounting principles generally accepted in the United States (“GAAP”): EBITDA and Adjusted EBITDA. EBITDA and Adjusted EBITDA are not measurements of our financial performance under GAAP and these measures
Slide 4: Key Company Highlights
Key Company Highlights Notes: Includes studies yet to publish data and retrospective projects. Number of facilities that have ordered products in 2018. 12 months ended 12/31/19 gross margin. 200+ Publications reviewing Organogenesis products 11 Ongoing studies(1) 4 Robust Clinical Data Supporting Pr
Slide 5: Experienced Leadership with Track Record of Execution
Experienced Leadership with Track Record of Execution Name/Title Background Information Howard Walthall EVP, Strategy and Market Development Gary Gillheeney, Sr President & Chief Executive Officer Tim Cunningham Chief Financial Officer Patrick Bilbo Chief Operating Officer Brian Grow Chief Commercia
Slide 6: Large and Growing Target Markets
Large and Growing Target Markets
Slide 7: Skin Substitutes: Fast-Growing, Under-Penetrated Segment of Advanced Wound Care
Key Drivers of Skin Substitute Market Include: Physician and payer education about the effectiveness and benefits of these products Clinical data Overall growth of Advanced Wound Care market driven by aging demographics and increase in co-morbidities such as diabetes, obesity, etc. Notes: BIS Resear
Slide 8: Surgical & Sports Medicine Is an Underserved, High-Growth Market
Bone Fusion Chronic Inflammatory And Degenerative Conditions ~$6Bn+ Market Growing ~8% Annually Tendon and Ligament Injuries ~$2.4Bn(1) Market size ~$1.0Bn(2) Market size ~$2.7Bn(1) Market size Includes spine fusion surgery and other bone graft substitutes Includes rotator cuff and achilles tendon r
Slide 9: Broad Product Portfolio
Broad Product Portfolio Organogenesis
Slide 10: Comprehensive and Differentiated Commercial Product Portfolio
Notes: Except 3rd degree burns. Affinity production suspended in Q1 2019, product launch anticipated in H1 2020. Minimal sales in AWC. Comprehensive and Differentiated Commercial Product Portfolio Advanced Wound Care Only AWC / S&SM Surgical & Sports Medicine Only Clinical Application: Orthopedic su
Slide 11: Our Products Cover a Wide Range of Addressable Wounds
Our Products Cover a Wide Range of Addressable Wounds Benefits of Broad AWC Portfolio Ability to Treat a Wide Range of Wounds Complete product portfolio serves as a key competitive advantage PuraPly AM is the only first line antimicrobial skin substitute with PHMB(1) for all wounds(2) Apligraf (DFUs
Slide 12: Differentiated Amniotic Portfolio Supported by Clinical Data
Differentiated Amniotic Portfolio Supported by Clinical Data Hemostatic phase Our Products Treat Wounds Across All Stages Notes: Except 3rd degree burns. Matrix metalloproteinases. Only First Line Antimicrobial Skin Substitute with PHMB for All Wounds(1) PMA-Approved Products for Complex DFUs and VL
Slide 13: Growth Strategy
Organogenesis ped 8 ealing Empowering _ ‘ og Growth Strategy Organogenesis
Slide 14: Strategic Initiatives & Catalysts for Growth
Strategic Initiatives & Catalysts for Growth Continue sales force expansion Penetrate additional sites of care Invest in R&D and launch new products Continue to build compendium of clinical data Expand payor and provider contracting efforts Manufacturing and infrastructure enhancements to improve gr
Slide 15: Robust Product Pipeline
Robust Product Pipeline Product Potential Timeline for Commercial Launch Product Description / Enhancement 2019 2020 Medium-Term (2021 – 2022) Long-Term (2023+) Enhanced thickness and PHMB content Allows for sustained presence of the antimicrobial barrier in the wound Bioengineered porcine collagen
Slide 16: PuraPly – The Leader in Skin Substitute / Antimicrobial Space
PuraPly – The Leader in Skin Substitute / Antimicrobial Space Proven Clinical Outcomes Use of PuraPly AM in the management of bioburden and treatment of chronic, nonhealing wounds Study duration of 24 weeks and primary efficacy analyzed at 12 weeks; n=63 Baseline wound statistics: Wound area (median
Slide 17: Measures Taken to Position PuraPly Post Pass-Through
Measures Taken to Position PuraPly Post Pass-Through Other Organogenesis Growth Drivers Expected to Offset Impact of PuraPly Proactive Measures Taken With PuraPly Increased penetration in physician offices, where PuraPly is reimbursed at cost-plus New smaller, lower-priced SKUs under bundle price In
Slide 18: Affinity – Full Marketing Launch Planned H1 2020
Fresh amniotic membrane containing many types of viable cells, growth factors/cytokines, and ECM proteins Manages chronic and acute wounds, as well as tendon, ligament and other soft tissue injuries One of only a few amniotic tissue products containing viable amniotic cells Production suspended in Q
Slide 19: NuShield – Versatile Tissue Graft
NuShield – Versatile Tissue Graft Covering Full Spectrum of Acute & Chronic Wounds AWC / S&SM Product Description Dehydrated placental tissue graft that is topically or surgically applied to target tissue Acquired via NuTech acquisition in 2017; recent robust growth driven by leveraging Organogenesi
Slide 20: Pursuing BLA Approval for ReNu
Pursuing BLA Approval for ReNu to Open Up Large and Growing Market Opportunity Product Description Cryopreserved suspension of amniotic fluid cells and morselized amnion tissue from the same donor Formulated for office use (injection) Used to support healing of soft tissues: Osteoarthritis (OA) Join
Slide 21: Clinical Data Suggests Improved Patient Outcomes
Clinical Data suggests improved patient outcomes Notes: Farr et al. (2019). A Randomized Controlled Single-Blind Study Demonstrating Superiority of Amniotic Suspension Allograft Injection Over Hyaluronic Acid and Saline Control for Modification of Knee Osteoarthritis Symptoms. Journal of Knee Surger
Slide 22: NuCel – Amniotic-Derived Allograft for Surgical Procedures
NuCel – Amniotic-Derived Allograft for Surgical Procedures Surgically implanted allograft derived from human amniotic tissue and amniotic fluid Supports tissue healing in spinal and orthopedic surgical applications (i.e., bone growth and fusion) Launched in 2009(1) Seeking BLA approval (clinical stu
Slide 23: TransCyte: Approved Product in Attractive Market
~40,000 burns annually that require hospitalization TransCyte is an Approved Product in an Attractive Market with Limited Competition Product Description Market Opportunity Targeted at 2nd and 3rd degree burns Bioengineered tissue scaffold that promotes burn healing Provides bioactive dermal compone
Slide 24: Financial Profile
Financial Profile Organogenesis
Slide 25: Attractive Revenue and Margin Profile
Attractive Revenue and Margin Profile PuraPly Revenue $62 $109 $70 $127 Ex- PuraPly Revenue $76 $89 $124 $134 % Gross Margin 65% 69% 64% 71% % growth CAGR: 23% (1) Note: PuraPly exited pass-through on 12/31/17 and entered pass-through status again on 10/1/18. ($ in millions) Financial Profile
Slide 26: 10-K Income Statement
10-K Income Statement fet revenue Cost of goods sold Gross. Writeaof dated Meng costs Total operating expenses Loss from operations. Other expense, net: Loss on the Siena in Other income (expense), net Total other agian Net loss before income taxes fone (oom Net loss attributable to Orzanogenesis Ho
Slide 27: 10-K Balance Sheet
10-K Balance Sheet ets Current assets Cas s om s 21291 Restricted cash 196 1s counts receivable, net 393 In 22918 Prepaid expenses and other eurent assets 2953 ‘Total curren assets 125.600 pment, net 7184 Notes receivable fom related partes 5 Intangible asets, net 204 Goodwill 25,539 Defered tax ass
Slide 28: 10-K Cash Flow Statement
10-K Cash Flow Statement 27
Slide 29: Weighted Average Shares Outstanding
WASO ‘Year Ended December 31, 2019 2018 2017 ‘Weighted average common shares outstanding — ‘basic and diluted 92,840,401 69,318,456 63,876,767 ce stock, $0.0001 so. i 61,413 sh issued; 104,870,886 and 91,261 2019 and 2018, respectively.
Slide 30: Fiscal 2020 Guidance
Fiscal 2020 Guidance Fiscal Year 2020 Revenue Guidance: For the twelve months ending December 31, 2020, the Company expects: · Net revenue of between $273 million and $2 77 million, representing growth of approximately 5% to 6 % year - over - year, as compared to net revenue of $261 million for the
Slide 31: Interim and Longer-Term Financial Targets
Interim and Longer-Term Financial Targets Revenue Growth Gross Margin R&D (% of Net Revenue) SG&A (% of Net Revenue) Adjusted EBITDA Margin >10% High 70’s to 80% 7% Mid 50’s % 15-20% Longer-Term Goal 2022+ Low teens CAGR % High 60’s % to Low 70’s % 6 – 8% Mid 60’s % to Low 70’s % Single digit % loss
Slide 32: Opportunities to Enhance Margins Through Facility Optimization
Opportunities to Enhance Margins Through Facility Optimization Canton, MA Birmingham, AL La Jolla, CA Devoted to operations, R&D and manufacturing (6,000+ square feet warehouse facility) R&D labs Customer service Headquarters Devoted to manufacturing, shipping, operations and R&D Recent expansion of
Slide 33: Appendix
Organogenesis ped 8 ealing Empowering _ ‘ og Appendix Organogenesis
Slide 34: Apligraf & Dermagraft Clinical Data
Complete Wound Closure Complete Wound Closure Venous Leg Ulcer Clinical Data Diabetic Foot Ulcer Clinical Data Diabetic Foot Ulcer Clinical Data Weekly up to 8 applications 64% Relative increase in % of patients achieving complete wound closure Apligraf & Dermagraft – PMA-Approved Products for VLUs
Slide 35: Robust Clinical Data Supporting Products: Advanced Wound Care
Robust Clinical Data Supporting Products: Advanced Wound Care Planned. Based on last patient last visit in the study. Management estimate or date analysis complete. Initiation of the study based on first patient enrolled. Estimated date of first external presentation of primary data ACWHTR: American
Slide 36: Robust Clinical Data Supporting Products: Surgical & Sports Medicine
Robust Clinical Data Supporting Products: Surgical & Sports Medicine 5 Product Indication Design Completion Date(1) Estimated Data Presentation Date(2) Lumbar Spine Vertebral Fusion 57 patient Prospective, Efficacy Study of NuCel in patients Undergoing Fusion for One, Two or Three Level Degenerative
Slide 37: Broad and Unique Portfolio in the Skin Substitute Market
We Have a Broad and Unique Portfolio in the Skin Substitute Market Products Skin Sub Skin Sub-Sheet/Flowable Skin Sub Honey ,TCC (cast), Dressings Skin Sub, Enzymatic Debrider, PDGF, NPWT, Dressings Skin Sub, Ultrasonic Debrider Skin Sub-Sheet/Flowable Skin Sub-Sheet/Flowable Human Cellular Bioengin
Slide 38: Broad Portfolio in the Surgical & Sports Medicine Market
Products Amniotic Membrane, Amniotic Suspension, Xenograft Amniotic Membrane, Amniotic Suspension Dermal Template, Amniotic Membrane, Amniotic Suspension, Tendon Reinforcement, Collagen Sheets and Powders Amniotic Membrane, Tendon Reinforcement Orthobiologics Orthobiologics Orthobiologics, Tendon Re
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