MIMEDX Shareholders Vote to Approve All Proposals at the 2022 Annual Meeting
- Dr. Phyllis Gardner and James L. Bierman Reelected to Board of Directors
- Company Also Receives Approvals for Say-on-Pay Proposal and Qualified Employee Stock Purchase Plan
MARIETTA, Ga., June 07, 2022 (GLOBE NEWSWIRE) -- MiMedx Group, Inc. (NASDAQ: MDXG) (“MIMEDX” or the “Company”), a transformational placental biologics company, today announced that, based on the preliminary vote count provided by its proxy solicitor, shareholders have approved all proposals set forth by the Company at the 2022 Annual Meeting of Shareholders, including the reelection of both of MIMEDX’s directors, Dr. Phyllis Gardner and James L. Bierman, and the proposals on say-on-pay and the Company’s qualified employee stock purchase plan.
“Today’s Board and management team have successfully charted a course for future growth,” said MIMEDX’s Chair of the Board, Dr. M. Kathleen Behrens. “The leadership team rebuilt MIMEDX into a stronger, more reputable Company, with a solid foundation and critical infrastructure from which to execute and perform at a higher level moving forward. We thank our shareholders for their strong support of our highly qualified directors at such a pivotal time and appreciate their approval of all of our proposals this year. That said, shareholders have also been clear in their feedback, particularly as it relates to the Company’s executive compensation program, and the Board wants them to know that we have heard them. We remain committed to always evaluating and taking a fresh look at executive pay more broadly, with shareholder perspectives and business performance in mind.”
MIMEDX expects to file the final voting results, as tabulated by the independent Inspector of Elections, in a Form 8-K with the Securities and Exchange Commission.
MIMEDX is a transformational placental biologics company, developing and distributing placental tissue allografts with patent-protected, proprietary processes for multiple sectors of healthcare. As a pioneer in placental tissue engineering, we have both a commercial business, focused on addressing the needs of patients with acute and chronic non-healing wounds, and a promising late-stage pipeline targeted at decreasing pain and improving function for patients with degenerative musculoskeletal conditions. We derive our products from human placental tissues and process these tissues using our proprietary methods, including the PURION ® process. We employ Current Good Tissue Practices, Current Good Manufacturing Practices, and terminal sterilization to produce our allografts. MIMEDX has supplied over two million allografts, through both direct and consignment shipments. For additional information, please visit www.mimedx.com.
Important Cautionary Statement
This press release includes forward-looking statements, such as statements regarding the results of the Company’s 2022 Annual Meeting of Shareholders, the Company’s prospects for future growth, and the evolution of the Company’s executive compensation program. Additional forward-looking statements may be identified by words such as “believe,” “expect,” “may,” “plan,” “goal,” “outlook,” “potential,” “will,” “preliminary,” and similar expressions, and are based on management’s current beliefs and expectations.
Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ from expectations include: (i) future sales are uncertain and are affected by competition, access to customers, patient access to healthcare providers, and many other factors; (ii) the status, timing, results, and expected results of the Company’s clinical trials, planned regulatory submissions and regulatory approvals, and our expectations regarding our ability to potentially accelerate the timing of any trial or regulatory submission, depend on a number of factors including favorable trial results, patient access, and our ability to manufacture in accordance with Current Good Manufacturing Practices (CGMP) and appropriate chemistry and manufacturing controls; (iii) the Company may change its plans due to unforeseen circumstances, or delays in analyzing and auditing results, and may delay or alter the timeline for future trials, analyses, or public announcements; (iv) our access to hospitals and health care provider facilities could be restricted as a result of the ongoing COVID-19 pandemic or other factors; (v) the results of scientific research are uncertain and may have little or no value; (vi) our ability to sell our products in other countries depends on a number of factors including adequate levels of reimbursement, regulatory approvals, market acceptance of novel therapies, and our ability to build and manage a direct sales force or third party distribution relationship; (vii) the effectiveness of amniotic tissue as a therapy for particular indications or conditions is the subject of further scientific and clinical studies; and (viii) we may alter the timing and amount of planned expenditures for research and development based on the results of clinical trials and other regulatory developments. The Company describes additional risks and uncertainties in the Risk Factors section of its most recent annual report and quarterly reports filed with the Securities and Exchange Commission. Any forward-looking statements speak only as of the date of this press release and, except as required by law, the Company assumes no obligation to update any forward-looking statement.
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