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4-Traders Homepage  >  Equities  >  Nasdaq  >  MiMedx Group Inc    MDXG

MIMEDX GROUP INC (MDXG)
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Dr. Gloria Matthews Joins MiMedx As Its Senior Vice President Of Research And Development

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10/05/2017 | 10:30am CET

Release date- 04102017 - MARIETTA, Ga. - MiMedx Group, Inc. (NASDAQ: MDXG), the leading biopharmaceutical company developing and marketing regenerative and therapeutic biologics utilizing human placental tissue allografts and patent protected processes for multiple sectors of healthcare, announced today that Dr. Gloria Matthews has joined the Company as its Senior Vice President, Research and Development.

Dr. Matthews will lead the Company's overall research function as well as the development of new products.

Parker H. 'Pete' Petit, Chairman and CEO, stated, 'Dr. Matthews brings over 20 years of experience encompassing programs from discovery into Phase 3 clinical development for devices, orthobiologics, combination products, and new chemical entities for osteoarthritis, cartilage repair, and regenerative medicine. She is an accomplished scientific leader with broad ranging expertise in orthopedic and rheumatologic diseases, among other therapeutic areas, and she has significant functional experience in cellular and gene therapy, biomaterials and growth factors.'

Bill Taylor, President and COO, commented, 'The addition of Dr. Matthews to our staff is an important step in our continued expansion into biopharmaceuticals. We will continue to expand our clinical and scientific talent and resources to further drive our growth in this area. We are very excited to welcome Dr. Matthews to our organization.'

Immediately prior to joining MiMedx, Dr. Matthews served as Chief Medical Officer at Histogenics Corporation, where she oversaw all clinical and medical affairs activities with strategic oversight of various United States and global development programs across biologics, drugs and devices.

Prior to Histogenics, Dr. Matthews spent 12 years at Genzyme Corporation and Sanofi Genzyme. During her tenure at Genzyme, Dr. Matthews held progressively more responsible leadership positions and was involved in clinical and preclinical development and/or post-market support of cell, gene, growth factor, small molecule and biomaterial based products in the orthopedic and rheumatologic space. Dr. Matthews last served with Sanofi Genzyme in the role of Senior Director and Global Head of Bone and Joint Disease Research and Development.

Dr. Matthews earned her DVM and Ph.D. from Cornell University. Dr. Matthew's Ph.D. concentration was in cell and molecular biology of osteoarthritis.

The Company also reaffirmed its previously communicated revenue expectations for the third quarter of 2017. 'In our press releases of September 5 and September 13, 2017, we communicated that we expected to exceed the $80 million upper end of our forecasted third quarter revenue range in spite of the disruption from Hurricane Harvey and Hurricane Irma. Our preliminary revenue estimates clearly show that our forecasting was correct. We are experiencing robust revenue growth, and we look forward to reporting our actual third quarter revenue on or about the 13th of October,' added Petit.

About MiMedx

MiMedx is the leading biopharmaceutical company developing and marketing regenerative and therapeutic biologics utilizing human placental tissue allografts with patent-protected processes for multiple sectors of healthcare. 'Innovations in Regenerative Medicine' is the framework behind our mission to give physicians products and tissues to help the body heal itself. We process the human placental tissue utilizing our proprietary PURION Process among other processes, to produce safe and effective allografts. MiMedx proprietary processing methodology employs aseptic processing techniques in addition to terminal sterilization. MiMedx is the leading supplier of placental tissue, having supplied over 1,000,000 allografts to date for application in the Wound Care, Burn, Surgical, Orthopedic, Spine, Sports Medicine, Ophthalmic and Dental sectors of healthcare.

Important Cautionary Statement

This press release includes forward-looking statements, including statements regarding revenue expectations for the 2017 third quarter and expectations for sales performance, despite the effects of Hurricane Harvey and Hurricane Irma. These statements also may be identified by words such as 'believe,' 'except,' 'may,' 'plan,' 'potential,' 'will' and similar expressions, and are based on our current beliefs and expectations. Forward-looking statements are subject to significant risks and uncertainties, and we caution investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Among the risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements include the risk that the Company's revenue for the 2017 third quarter may not materialize as expected and that the Company's sales performance, may be more negatively impacted than anticipated due to Hurricane Harvey and Hurricane Irma. For more detailed information on the risks and uncertainties, please review the Risk Factors section of our most recent annual report or quarterly report filed with the Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and we assume no obligation to update any forward looking statement.

Contact:

Rich Cockrell

Tel: 877-889-1972

Email: [email protected]

(c) 2017 Electronic News Publishing -, source ENP Newswire

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Financials ($)
Sales 2017 322 M
EBIT 2017 57,4 M
Net income 2017 37,6 M
Finance 2017 32,9 M
Yield 2017 -
P/E ratio 2017 38,28
P/E ratio 2018 40,16
EV / Sales 2017 4,13x
EV / Sales 2018 3,46x
Capitalization 1 360 M
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Number of Analysts 4
Average target price 19,0 $
Spread / Average Target 55%
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Managers
NameTitle
Parker H. Petit Chairman & Chief Executive Officer
William Charles Taylor President, Chief Operating Officer & Director
Michael J. Senken VP, Chief Financial & Accounting Officer
Frank Burrows Vice President-Clinical & Scientific Liaison
Thomas J. Koob Chief Scientific Officer
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