MDXG - MiMedx raises sales guidance ahead of investor event

Ahead of the company’s virtual Investor Day taking place at 9:00 a.m. ET today, MiMedx Group (NASDAQ:MDXG) has revised its guidance for adjusted net sales for fiscal 2021 to $253M – $258M from the previously announced projection of $245M – $255M. For fiscal 2020, the company reported $240.5M in adjusted net sales that included $31.8M of Section 351 products. The newly issued guidance also includes $16.7M worth of Section 351 products sold in the U.S. for the six months ending June 31. The biotech expects to record 11-14% growth in its commercial portfolio driven by multiple factors, including the strength in its Advanced Wound Care business and Surgical Recovery business. Two new product launches are also lined up for H1 2022. In 2022, MiMedx (MDXG) expects to begin its Phase 3 trials for the Knee Osteoarthritis (KOA) candidate. A filing for a Biologics License Application (BLA) is anticipated in late 2025.

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MiMedx raises sales guidance ahead of investor event