Nerve repair company expects to report 54% growth over previous year.
ALACHUA, FL – February 4, 2015 – AxoGen, Inc. (NASDAQ: AXGN), a leading medical technology company with a unique and innovative portfolio of products used to repair injured peripheral nerves, today announced preliminary unaudited revenue for the fourth quarter and full year ended December 31, 2014.
The Company expects fourth quarter revenue of $4.79 million, a 61% increase compared to revenue of $2.98 million in the fourth quarter of 2013. For the full year 2014, revenue is expected to be $16.8 million, representing a 54% increase compared to revenue of $10.9 million for the full year ended December 31, 2013.
These preliminary results are based on currently available financial and operating information and management’s preliminary analysis of the unaudited financial results for the quarter and year ended December 31, 2014 and are subject to finalization in connection with the preparation of the Company’s audited financial statements. The Company has not completed the preparation of its financial statements for 2014 and additional details with respect to the Company’s 2014 results of operations are not yet available. The Company currently intends to report its complete financial results for the full year ended December 31, 2014 in early March.
About AxoGen, Inc.
AxoGen (NASDAQ: AXGN) is a leading medical technology company dedicated to peripheral nerve repair. AxoGen’s portfolio of regenerative medicine products is available in the United States, Canada and several European countries and includes Avance® Nerve Graft, which AxoGen believes is the only off-the-shelf commercially available processed nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site, AxoGuard® Nerve Connector, a porcine submucosa extracellular matrix (“ECM”) coaptation aid for tensionless repair of severed nerves, and AxoGuard® Nerve Protector, a porcine submucosa ECM product used to wrap and protect injured peripheral nerves and reinforce the nerve reconstruction while preventing soft tissue attachments.
Avance® Nerve Graft is processed in the United States by AxoGen. AxoGuard® Nerve Connector and AxoGuard® Nerve Protector are manufactured in the United States by Cook Biotech Incorporated, and are distributed exclusively by AxoGen. AxoGen maintains its corporate offices in Alachua, Florida and is the parent of its wholly owned operating subsidiary, AxoGen Corporation.
To learn more about AxoGen, visit our website at www.AxoGenInc.com.
Contact:
AxoGen, Inc.
Lee Robert “Bob” Johnston, Chief Financial Officer
386.462.6856
InvestorRelations@AxoGenInc.com
Investor Relations: EVC Group
Bob Jones/Michael Polyviou – Investor Relations
646.201.5447/212.850.6020
bjones@evcgroup.com; mpolyviou@evcgroup.com
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