Company profile

Ticker
MDXG
Exchange
Website
CEO
Timothy R. Wright
Employees
Incorporated in
Location
Fiscal year end
Former names
Alynx, Co.
SEC CIK
IRS number
900300868

MDXG stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

6 Jul 20
15 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 61.74M 76.4M 88.86M 67.44M
Net income -4.82M -7.48M 12.38M -17.21M
Diluted EPS -0.04 -0.07 0.11 -0.16
Net profit margin -7.81% -9.79% 13.93% -25.52%
Operating income -13.74M -4.87M 14.2M -17.07M
Net change in cash -15.54M -25.05M -2.81M 68.55M
Cash on hand 53.53M 69.07M 94.12M 96.93M
Cost of revenue 10.03M 12.71M 13.21M 9.75M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 299.26M 359.11M 321.14M 245.02M
Net income -25.58M -29.98M 64.73M 390K
Diluted EPS -0.24 -0.28 0.56 0
Net profit margin -8.55% -8.35% 20.16% 0.16%
Operating income -21.16M -3.92M 46.22M 884K
Net change in cash 23.95M 17.64M -2.85M 4.02M
Cash on hand 69.07M 45.12M 27.48M 30.32M
Cost of revenue 43.08M 36.39M 35.22M 30.94M

Financial data from Mimedx earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
6 Jul 20 Carlson Peter M Common Stock Grant Aquire A No 5.4 35,211 190.14K 84,506
7 Jun 20 Wright Timothy R Common Stock Payment of exercise Dispose F No 3.5 89,591 313.57K 592,227
3.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 16 17 -5.9%
Opened positions 2 2
Closed positions 3 2 +50.0%
Increased positions 0 0
Reduced positions 5 5
13F shares
Current Prev Q Change
Total value 14.23M 31.7M -55.1%
Total shares 4.08M 4.18M -2.5%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
RTW Investments 2.7M $9.42M -0.1%
Disciplined Growth Investors 402.61K $1.41M -16.4%
Thompson Investment Management 316.29K $1.1M -2.5%
Westwood Management 275K $960K 0.0%
Pegasus Asset Management 168.65K $589K 0.0%
SAMG Silvercrest Asset Management 96.4K $336K 0.0%
Seelaus Asset Management 23K $80K 0.0%
Murphy Capital Management 22.7K $79K 0.0%
Cutter & CO Brokerage 16.68K $58K NEW
Parametric Portfolio Associates 14.72K $51K -27.5%
Largest transactions
Shares Bought/sold Change
Disciplined Growth Investors 402.61K -78.83K -16.4%
Aft, Forsyth & Company 0 -20K EXIT
Cutter & CO Brokerage 16.68K +16.68K NEW
Next Capital Management 11.61K +11.61K NEW
IFP Advisors 13.74K -10K -42.1%
Teachers Retirement System Of The State Of Kentucky 0 -8.87K EXIT
Thompson Investment Management 316.29K -8.08K -2.5%
Parametric Portfolio Associates 14.72K -5.58K -27.5%
RTW Investments 2.7M -2.22K -0.1%
Verus Capital Partners 0 -200 EXIT

Financial report summary

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Risks
  • Our substantial indebtedness may adversely affect our financial health.
  • Our variable rate indebtedness under the Hayfin Loan Agreement subjects us to interest rate risk, which could result in higher expense in the event of increases in interest rates and adversely affect our business, financial condition, and results of operations.
  • Rapid technological change could cause our products to become obsolete and, if we do not enhance our product offerings through our research and development efforts, we may be unable to compete effectively.
  • We depend on our senior leadership team and may not be able to retain or replace these employees or recruit additional qualified personnel, which would harm our business, results of operations and financial condition.
  • Our revenue, results of operations and cash flows may suffer upon the loss of a GPO or IDN.
  • We contract with independent sales agents and distributors.
  • If we cannot successfully address quality issues that may arise with our products, our brand reputation could suffer, and our business, financial condition, and results of operations could be adversely impacted.
  • The formation of physician-owned distributorships (“PODs”) could result in increased pricing pressure on our products or harm our ability to sell our products to physicians who own or are affiliated with those distributorships.
  • The products we manufacture and process are derived from human tissue and therefore have the potential for disease transmission.
  • We may implement a product recall or voluntary market withdrawal, which could significantly increase our costs, damage our reputation, disrupt our business and adversely affect our business, results of operations and financial condition.
  • Significant disruptions of information technology systems or breaches of information security could adversely affect our business, results of operation and financial condition.
  • We may expand or contract our business through acquisitions, divestitures, licenses, investments, and other commercial arrangements in other companies or technologies, which may adversely affect our business, results of operations and financial condition.
  • If any of the BLAs are approved, the Company would be subject to additional regulation which will increase costs and could result in adverse sanctions for non-compliance.
  • New lines of business or new products and services may subject us to additional risks.
  • Our international expansion and operations outside the U.S. expose us to risks associated with international sales and operations.
  • To the extent our products do not qualify for regulation as human cells, tissues and cellular and tissue-based products solely under Section 361 of the Public Health Service Act, this could result in removal of the applicable products from the market, would make the introduction of new tissue products more expensive and would significantly delay the expansion of our tissue product offerings and subject us to additional post-market regulatory requirements.
  • Obtaining and maintaining the necessary regulatory approvals for certain of our products will be expensive and time consuming and may impede our ability to fully exploit our technologies.
  • Our business is subject to continuing regulatory compliance by the FDA and other authorities, which is costly, and our failure to comply could result in negative effects on our business, results of operations and financial condition.
  • We may be subject to fines, penalties, injunctions and other sanctions if we are deemed to be promoting the use of our products for unapproved, or off-label, uses.
  • We may be subject to fines, penalties, injunctions and even criminal sanctions if we are deemed to have made a misstatement of compliance to a federal agency.
  • Our results of operations may be adversely affected by current and potential future healthcare reforms.
  • We may fail to obtain or maintain foreign regulatory approvals to market our products in other countries.
  • Federal and state laws that protect the privacy and security of personal information may increase our costs and limit our ability to collect and use that information and subject us to liability if we are unable to fully comply with such laws.
  • We have identified material weaknesses in our internal control over financial reporting, and we have concluded that our internal control over financial reporting and our disclosure controls and procedures were not effective as of December 31, 2019. If we fail to properly remediate these or any future material weaknesses or deficiencies, further material misstatements in our financial statements could occur and impair our ability to produce accurate and timely financial statements, preclude us from relisting our stock on a securities exchange, require significant expenditure of financial and other resources, give rise to litigation against us and otherwise affect our business, financial condition and operating results.
  • Matters relating to and arising out of the Audit Committee Investigation, including the accounting review of our previously issued consolidated financial statements and the audits of fiscal years 2018, 2017 and 2016, have been time consuming and expensive, and may result in additional expense.
  • Matters relating to or arising from the Restatement and the Audit Committee Investigation have had and could continue to have an adverse effect on our business, results of operations and financial condition.
  • We are currently, and may in the future be, subject to substantial litigation and ongoing investigations that could cause us to incur significant legal expenses and result in harm to our business.
  • Our Common Stock might not be relisted, or once relisted, it might not remain listed.
  • EW Healthcare Partners may have influence over us, and its interests may conflict with those of our other shareholders.
  • Our Common Stock has been delisted from The Nasdaq Capital Market, which may negatively impact the trading price of our Common Stock and the levels of liquidity available to our shareholders.
  • The price of our Common Stock has been, and will likely continue to be, volatile.
  • We do not intend to pay cash dividends on our Common Stock.
  • Certain provisions of Florida law and anti-takeover provisions in our organizational documents may discourage or prevent a change of control, even if an acquisition would be beneficial to shareholders, which could affect our share price adversely and prevent attempts by shareholders to remove current management.
Management Discussion
  • Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • MiMedx is an industry leader in advanced wound care and an emerging therapeutic biologics company, developing and distributing placental tissue allografts with patent-protected processes for multiple sectors of healthcare. We derive our products from human placental tissues processed using our proprietary processing methodologies, including the PURION® process. We employ aseptic processing techniques in addition to terminal sterilization to produce our allografts. MiMedx provides products in the wound care, burn, surgical, orthopedic, spine, sports medicine, ophthalmic, and dental sectors of healthcare. Our mission is to offer products and tissues to help the body heal itself. All of our products are regulated by the FDA.
  • MiMedx is the leading supplier of human placental allografts, which are human tissues that are transplanted from one person (a donor) to another person (a recipient). MiMedx has supplied over 1.9 million allografts, through both direct sales and consignment shipments. Our biomaterial platform technologies include AmnioFix®, EpiFix®, EpiCord®, AmnioCord® and AmnioFill®. AmnioFix and EpiFix are our tissue allografts derived from the amnion and chorion layers of the human placental membrane. EpiCord and AmnioCord are tissue allografts derived from umbilical cord tissue. AmnioFill is a placental connective tissue matrix derived from the placental disc and other placental tissue.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: accomplished, dialogue, disciplined, exhibit, factor, insertion, iterative, promise, reinstated, slightly, suggested, unacceptable, visibility, voluntarily
Removed: reduce

Patents

APP
Utility
Collagen Reinforced Tissue Grafts
9 Jul 20
This invention is directed to a multi-layered tissue graft comprising a collagen layer and at least one separated and washed placental tissue component and/or umbilical cord component, wherein the collagen is human collagen substantially free of non-human antigens.
GRANT
Utility
Kits and materials for implantable collagen devices
23 Jun 20
The invention relates to implantable collagen devices made by seeding at least one elongate collagen construct, e.g., comprising at least one elongate synthetic collagen fiber with a plurality of cells and applying a strain and/or stress to the at least one elongate collagen fiber to induce the cells to differentiate into target phenotypes, e.g., tendon or ligament phenotype cells (and/or fibroblasts), typically with an extracellular matrix of collagen to organize into a tissue on the at least one collagen fiber.
GRANT
Utility
Collagen fiber ribbons with integrated fixation sutures and methods of making the same
19 May 20
The disclosure describes implantable bioprosthesis and constructs having an implantable woven ribbon with at least one integrated suture.
APP
Utility
Compositions and Methods of Treatment with Amniotic Fluid
30 Apr 20
The present disclosure provides compositions composed of amniotic fluid and/or modified amniotic fluid, a pharmaceutically acceptable carrier, and optionally a placental tissue graft, micronized placental tissue components, or extracts derived therefrom.
APP
Utility
Non-surgical, Localized Delivery of Compositions for Placental Growth Factors
16 Apr 20
Described herewith are compositions comprising placental growth factors and methods for non-surgical, localized delivery thereof.