MDXG - MiMedx Group expects AWC full-year sales in low end of 11%-14% growth range

• MiMedx Group ( NASDAQ: MDXG ) provided an update on its revenue outlook for 2022, expecting net sales of its continuing portfolio of Advanced Wound Care (AWC) products in the low end of 11%-14% growth range.
• The placental biologics company has seen softer sales of its products owing to the easing of COVID-19 travel restrictions that resulted in increased levels of travel and vacations at customer accounts and lower procedure volumes during the summer months.
• Despite this, the company it expects to report growth in total net sales for the third quarter of 2022. AWC net sales is expected to grow in the mid-single digits in Q3.
• In other news, MiMedx Group ( MDXG ) announced leadership transition, naming K. Todd Newton as interim CEO. Newton replaces Timothy Wright, who served as CEO since May 2019.
• The board has appointed a special committee to direct the search for a new CEO.

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