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AxoGen, Inc. Closes $18 Million Offering and Moves to NASDAQ
Date:8/15/2013

Alachua, FL (PRWEB) August 15, 2013

AxoGen, Inc. (NASDAQ: AXGN), a leading regenerative medicine company focused on the commercialization of proprietary products and technologies for peripheral nerve reconstruction and regeneration, today announced the closing of an underwritten offering of 6,000,000 shares of its common stock at a price to the public of $3.00 per share. The Company received gross proceeds of approximately $18 million, excluding the underwriters' over-allotment option and deductions for underwriting discounts and commissions and estimated expenses.

AxoGen also announced that it has filed its quarterly report on Form 10-Q for the second quarter of 2013 with the Securities and Exchange Commission (SEC). Second quarter 2013 highlights included:

  •     Revenues increased 42.2% from 2Q 2012 to $2.86 million
  •     Gross profit increased 47.6% from 2Q 2012 to $2.23 million
  •     Gross profit margin at 77.9%, up 2.8% from 2Q 2012
  •     Operating Loss increased 38.2% from 2Q 2012 to $2.19 million
  •     Received CE Mark and Health Canada Approval for AxoGuard® Nerve Protector and AxoGuard® Nerve Connector

Karen Zaderej, Chief Executive Officer of AxoGen, said, “I am delighted with the many milestones AxoGen has achieved this year. Our move to NASDAQ places AxoGen among the leading innovative growth companies; provides more efficient trading for our shareholders; and increases our visibility to institutional shareholders. The successful closin
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Source: PRWeb
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1. AxoGen, Inc. Announces Pricing of $18 Million Underwritten Offering and Uplisting to NASDAQ
2. AxoGen, Inc. to Present at the Wedbush 2013 Life Sciences Management Access Conference
3. AxoGen, Inc. Reports Second Quarter 2013 Financial Results
4. AxoGen, Inc. Announces Presentation of Avance® Nerve Graft Data at the 18th Federation of European Societies for Surgery of the Hand Congress
5. AxoGen, Inc. Receives Grant in Partnership with Vanderbilt University from U.S. Department of Defense
6. AxoGen, Inc. Files Form S-1 Registration Statement
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