QualityStocks would like to highlight MiMedx Group, Inc. (OTCBB: MDXG). MiMedx is an integrated developer, manufacturer and marketer of patent protected regenerative biomaterial products and bioimplants processed from human amniotic membrane. "Innovations in Regenerative Biomaterials" is the framework behind the company’s mission to give physicians products and tissues to help the body heal itself.
In the company’s news yesterday,
MiMedx Group, Inc. announced its results for the third quarter ended September 30, 2011.
The company posted record second-quarter revenue at $2.1 million, a nearly twenty-fold increase over third quarter of 2010 revenue reported at $108,000. MiMedx reported a net loss of $1.7 million, or $(0.02) per diluted common share, for the third quarter, compared to a net loss of $2.8 million, or $(0.05) per diluted common share, in the third quarter of last year.
The company achieved breakeven adjusted EBITDA for the month of September, and Parker H. “Pete” Petit, chairman and CEO of MiMedx, said the company reduced its adjusted EBITDA loss in the third quarter by nearly $500,000 compared to the previous quarter.
“With a combination of revenue growth and expense management, we are making significant strides towards achieving positive Adjusted EBITDA in the near term. We expect that the recent addition of key resources in our sales organization, our agreement with Affirmative Solutions for our VA initiatives, and several potential OEM agreements that are currently in various stages of negotiation will provide further support of our fourth quarter growth goals. These initiatives, along with our continued diligence in expense control, will expedite our Adjusted EBITDA/positive cash flow objectives,” Petit stated in the press release.
During the third quarter, MiMedx also launched its AmnioFix® Injectable and commenced shipments into distribution. The company noted increasing interest in the technology as it demonstrates growing application.
“We have initiated a limited launch of the AmnioFix® Injectable to a group of physicians who, for quite some time, have expressed an interest in this configuration,” Bill Taylor, president and COO of MiMedx stated. “The physicians using it in the limited launch are focusing their efforts on tendonitis applications. AmnioFix® Injectable may have numerous additional uses as well, and at this time, we are conducting additional evaluations to study such applications. … Based on the data and evidence we have collected so far, it appears that our AmnioFix and EpiFix® products will have strong clinical results and be quite cost effective in their uses for numerous medical procedures.”
About QualityStocks
QualityStocks, based in Scottsdale, Arizona, is a free service that collects data from hundreds of Small-Cap and Micro-Cap online Investment Newsletters into one Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their investor communication efforts and connecting subscribers with companies that have huge potential to succeed in the short and long-term future.
To sign up for “The QualityStocks Daily Newsletter” please visit www.QualityStocks.net
Please see disclaimer on QualityStocks website: http://Disclaimer.QualityStocks.net
Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
