- AxoGen has reported two consecutive quarters of double-digit growth despite lower trauma presentations during the pandemic and restrictions on marketing/training efforts.
- Clinical data continue to support the company's key products, with patients experience reduced pain/improved sensation in trauma, breast recon, and post-surgical pain.
- The RECON study should drive a more significant revenue growth inflection, but that's still a longer-term driver (data in '22, filing in '23, BLA approval in '24).
- Improving growth and execution can support a higher multiple, and I believe AxoGen should trade closer to the mid-$20s today.
For further details see:
Recovering Trauma Cases Should Highlight AxoGen's Improving Execution