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Vericel Reports Fourth Quarter and Full-Year 2023 Financial Results and Provides Full-Year 2024 Financial Guidance

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Thursday, February 29, 2024

Total, Burn, Chondrocyte, Investment, American Journal, Marketing, FDA, Telephone, Growth, Surgeon, P&T, MACI, Therapy, Webcast, Patient, Bromelain, Eastern Time Zone, Sports medicine, Pharmaceutical industry

Gross profit for the quarter ended December 31, 2023 was $48.5 million, or 75% of net revenue, compared to $38.2 million, or 73% of net revenue, for the fourth quarter of 2022.

Key Points:

Gross profit for the quarter ended December 31, 2023 was $48.5 million, or 75% of net revenue, compared to $38.2 million, or 73% of net revenue, for the fourth quarter of 2022.
Total operating expenses for the quarter ended December 31, 2023 were $35.8 million, compared to $32.2 million for the same period in 2022.
Non-GAAP adjusted EBITDA for the quarter ended December 31, 2023 was $22.3 million, or 34% of net revenue, compared to $14.9 million, or 28% of net revenue, for the fourth quarter of 2022.
Total net revenue for the year ended December 31, 2023 was $197.5 million, compared to $164.4 million in 2022.

Vericel Reports Third Quarter 2023 Financial Results and Raises Full-Year 2023 Financial Guidance

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Wednesday, November 8, 2023

CAMBRIDGE, Mass., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Vericel Corporation (NASDAQ:VCEL), a leader in advanced therapies for the sports medicine and severe burn care markets, today reported financial results and business highlights for the third quarter ended September 30, 2023.

Key Points:

Gross profit for the quarter ended September 30, 2023 was $30.6 million, or 67% of net revenue, compared to $25.2 million, or 65% of net revenue, for the third quarter of 2022.
Total operating expenses for the quarter ended September 30, 2023 were $35.7 million, compared to $32.0 million for the same period in 2022.
Non-GAAP adjusted EBITDA for the quarter ended September 30, 2023 was $5.4 million, or 12% of net revenue, compared to $3.3 million, or 9% of net revenue, for the third quarter of 2022.
As of September 30, 2023, the Company had approximately $149 million in cash, restricted cash and investments, and no debt.

Vericel Announces Publication of Positive Results from Phase 3 Debride and Protect (DETECT) Study of Thermal Burn Patients Treated with NexoBrid

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Thursday, September 28, 2023

Debridement, GV, Bromelain (pharmacology), SOC, Burn, Journal, Patient, Bromelain, Sports medicine, Safety, Dentistry

CAMBRIDGE, Mass., Sept. 28, 2023 (GLOBE NEWSWIRE) -- Vericel Corporation (NASDAQ:VCEL), a leader in advanced therapies for the sports medicine and severe burn care markets, today announced the recent publication of results from the Phase 3 DETECT study assessing the safety and efficacy of NexoBrid® (anacaulase-bcdb) in the Journal of Burn Care & Research.

Key Points:

“These data demonstrate the ability of NexoBrid to provide patients with severe thermal burns safe and effective enzymatic eschar removal that is superior to current debridement methods,” said Dr. Jon Hopper, Chief Medical Officer of Vericel.
The primary endpoint was complete eschar removal at the end of the debridement phase and secondary outcomes were the need for surgery and time to complete eschar removal.
Key findings include:
Surgical excision was lower in the NexoBrid arm when compared to the SOC group (4% vs. 72%; P The estimated median time to complete eschar removal was 1.02 and 3.83 days for the NexoBrid and SOC treatment arms, respectively (P NexoBrid appeared safe and well tolerated without deleterious effects on wound closure and scarring.
Data from this study ultimately served as the foundation for the FDA approval of NexoBrid for commercial use in the U.S.

MediWound Announces U.S. Commercial Availability of NexoBrid® for the Treatment of Severe Thermal Burns in Adults

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Thursday, September 21, 2023

Body surface area, Bromelain (pharmacology), Burn, Inflammation, TBSA, Sepsis, Eschar, Patient, Bromelain, Burns, Trauma

Eschar removal is a critical first step in the treatment of burns as it can reduce inflammation, stop burn progression, as well as mitigate infections and sepsis.

Key Points:

Eschar removal is a critical first step in the treatment of burns as it can reduce inflammation, stop burn progression, as well as mitigate infections and sepsis.
Surgical excision, which is the current standard of care for eschar removal, often results in the removal of viable tissue.
"We are thrilled to announce that NexoBrid is now commercially available in the United States through our partner, Vericel," stated Ofer Gonen, Chief Executive Officer of MediWound.
A first application of NexoBrid may be applied to an area of up to 15% Body Surface Area (TBSA).

Vericel Announces U.S. Commercial Availability of NexoBrid® (anacaulase-bcdb) for the Treatment of Severe Thermal Burns in Adults

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Wednesday, September 20, 2023

Surgeon, Eschar, Bromelain (pharmacology), Burn, Inflammation, TBSA, Sepsis, Patient, Total body surface area, Bromelain, Burns, Sports medicine, Trauma, Body surface area, Dentistry, Vericel

CAMBRIDGE, Mass., Sept. 20, 2023 (GLOBE NEWSWIRE) -- Vericel Corporation (NASDAQ:VCEL), a leader in advanced therapies for the sports medicine and severe burn care markets, today announced the U.S. commercial availability of NexoBrid® (anacaulase-bcdb) for the removal of eschar in adults with deep partial- and/or full-thickness thermal burns.

Key Points:

Eschar removal is a critical first step in the treatment of burns as it can reduce inflammation, stop burn progression, as well as mitigate infections and sepsis.
Surgical excision, which is the current standard of care for eschar removal, often results in the removal of viable tissue.
“We are very pleased to announce the U.S. commercial availability of NexoBrid, as it significantly expands our Burn Care franchise and represents an important paradigm shift in the treatment of severe thermal burns,” said Nick Colangelo, President and CEO of Vericel.
A first application of NexoBrid may be applied to an area of up to 15% body surface area.

Vericel Reports Second Quarter 2023 Financial Results and Raises Full-Year 2023 Financial Guidance

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Wednesday, August 2, 2023

Record Second Quarter Total Revenue of $45.9 Million, Representing 24% Growth versus Prior Year

Key Points:

Record Second Quarter Total Revenue of $45.9 Million, Representing 24% Growth versus Prior Year
CAMBRIDGE, Mass., Aug. 02, 2023 (GLOBE NEWSWIRE) -- Vericel Corporation (NASDAQ:VCEL), a leader in advanced therapies for the sports medicine and severe burn care markets, today reported financial results and business highlights for the second quarter ended June 30, 2023, and provided updated full-year 2023 financial guidance.
Gross profit for the quarter ended June 30, 2023 was $29.9 million, or 65% of net revenue, compared to $22.9 million, or 62% of net revenue, for the second quarter of 2022.
Net loss for the quarter ended June 30, 2023 was $5.0 million, or $0.11 per diluted share, compared to $9.0 million, or $0.19 per diluted share, for the second quarter of 2022.
Non-GAAP adjusted EBITDA for the quarter ended June 30, 2023 was $4.4 million, or 10% of net revenue, compared to $2.8 million, or 7% of net revenue, for the second quarter of 2022.

Pancrelipase Market to Reach USD 2.7 Billion, Globally, by 2031 at 4.3% CAGR: Allied Market Research

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Monday, December 5, 2022

Online, Chronic pancreatitis, Pancreatic cancer, Cystic fibrosis, Patient, Prevalence, Hospital, Employment, Incidence, Pharmacy, Growth, Bromelain, Distribution, Pharmacy Council of India, Pharmaceutical industry, Dietary supplement, Geriatrics

PORTLAND, Ore., Dec. 4, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Pancrelipase Market by Application (Chronic Pancreatitis, Cystic Fibrosis, Others), by Age (Children, Adults and Geriatrics), by Distribution Channel (Hospital Pharmacies, Drug Store and Retail Pharmacies, Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global pancrelipase industry was estimated at $1.8 billion in 2021, and is anticipated to hit $2.7 billion by 2031, registering a CAGR of 4.3% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chains, competitive scenarios, and regional landscapes.

Key Points:

Increase in the incidence of chronic pancreatitis, cystic fibrosis, and pancreatic cancer drives the growth of the global pancrelipase market.
Increase in the incidence of chronic pancreatitis, cystic fibrosis, and pancreatic cancer drives the growth of the global pancrelipase market.
However, as the global situation started getting back to normalcy, the pancrelipase market also restored at a slow & steady pace.
By region, North America contributed to nearly three-fourths of the global pancrelipase market revenue, holding the major share in 2021.

Pancrelipase Market to Reach USD 2.7 Billion, Globally, by 2031 at 4.3% CAGR: Allied Market Research

Retrieved on:

Monday, December 5, 2022

PORTLAND, Ore., Dec. 4, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Pancrelipase Market by Application (Chronic Pancreatitis, Cystic Fibrosis, Others), by Age (Children, Adults and Geriatrics), by Distribution Channel (Hospital Pharmacies, Drug Store and Retail Pharmacies, Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global pancrelipase industry was estimated at $1.8 billion in 2021, and is anticipated to hit $2.7 billion by 2031, registering a CAGR of 4.3% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chains, competitive scenarios, and regional landscapes.

Key Points:

Increase in the incidence of chronic pancreatitis, cystic fibrosis, and pancreatic cancer drives the growth of the global pancrelipase market.
Increase in the incidence of chronic pancreatitis, cystic fibrosis, and pancreatic cancer drives the growth of the global pancrelipase market.
However, as the global situation started getting back to normalcy, the pancrelipase market also restored at a slow & steady pace.
By region, North America contributed to nearly three-fourths of the global pancrelipase market revenue, holding the major share in 2021.

Global Digestive Enzyme Supplements Market Report 2022 to 2028: Featuring ProThera, Enzymes, AST Enzymes and Vemo 99 Among Others - ResearchAndMarkets.com

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Tuesday, November 15, 2022

The Global Digestive Enzyme Supplements Market size is expected to reach $1.5 billion by 2028, rising at a market growth of 7.7% CAGR during the forecast period.

Key Points:

The Global Digestive Enzyme Supplements Market size is expected to reach $1.5 billion by 2028, rising at a market growth of 7.7% CAGR during the forecast period.
Digestive enzyme supplements are supplements made to simulate the functions of the digestive enzymes that human bodies produce naturally to help digest and assimilate food.
The body requires digestive enzymes, which are organic compounds, to aid in the breakdown and digestion of food.
Digestive enzymes can also be referred as proteins that the body naturally produces to help break down food and facilitate digestion.

The Worldwide Bromelain Industry is Projected to Reach $45 Million by 2030 at a 7.1% CAGR - ResearchAndMarkets.com

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Thursday, November 10, 2022

The global bromelain market size is projected to reach USD 45.09 million by 2030.

Key Points:

The global bromelain market size is projected to reach USD 45.09 million by 2030.
It is expected to register a CAGR of 7.1% from 2022 to 2030.
The healthcare application segment is also expected to showcase a CAGR of 7.3% in terms of revenue, from 2022 to 2030.
Key participants dominating the industry are Hong Mao Biochemicals Co., Ltd, Enzybel International SA, and Great Food Group of Companies.