Vericel Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 09:12 am EST
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Vericel Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 45.58 million compared to USD 38.55 million a year ago. Net loss was USD 3.66 million compared to USD 6.58 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to USD 0.14 a year ago. Diluted loss per share from continuing operations was USD 0.08 compared to USD 0.14 a year ago.
For the nine months, revenue was USD 132.52 million compared to USD 111.67 million a year ago. Net loss was USD 16.18 million compared to USD 22.63 million a year ago. Basic loss per share from continuing operations was USD 0.34 compared to USD 0.48 a year ago. Diluted loss per share from continuing operations was USD 0.34 compared to USD 0.48 a year ago.
Vericel Corporation is a fully-integrated, commercial-stage biopharmaceutical company. The Company is a provider of advanced therapies for the sports medicine and severe burn care markets. It markets three products in the United States. MACI (autologous cultured chondrocytes on porcine collagen membrane) is an autologous-cellularized scaffold product indicated for the repair of symptomatic, single or multiple full-thickness cartilage defects of the knee with or without bone involvement in adults. Epicel (cultured epidermal autografts) is a permanent skin replacement for the treatment of patients with deep dermal or full thickness burns greater than or equal to 30% of total body surface area. The Company also holds a license for North American rights to NexoBrid (anacaulase-bcdb), a biological orphan product containing proteolytic enzymes, which is indicated for the removal of eschar in adults with deep partial-thickness and/or full-thickness burns.
VERICEL CORPORATION 
