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AxoGen, Inc. Reports Second Quarter 2013 Financial Results
Date:7/11/2013

Alachua, FL (PRWEB) July 11, 2013

AxoGen Second Quarter 2013 Highlights:

  •     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

AxoGen, Inc. (OTCQB: AXGN), a leading regenerative medicine company focused on the commercialization of proprietary products and technologies for peripheral nerve reconstruction and regeneration, announced financial results for the second quarter ended June 30, 2013.

Karen Zaderej, Chief Executive Officer of AxoGen, said, “The Company achieved another quarter of record revenue driven by solid execution by our sales and marketing team. We also made excellent progress with our initiatives to expand adoption of our full suite of nerve repair products. This included European and Canadian regulatory approval for our AxoGuard® Nerve Protector and AxoGuard® Nerve Connector products. AxoGen continues to demonstrate that we are well positioned to capture the significant opportunity to provide off-the-shelf treatment options for patients with peripheral nerve injuries, which, we believe, will translate into continued sales growth and positive financial results.”

Revenue
Revenues for the second quarter 2013 were $2.86 million, up 42.2% compared to $2.01 million in the second quarter 2012, driven by an increase in the number of facilities utilizing the Company’s products and increased penetration of existing accounts.

Gross Profit
Gross profit for the second quarter 201
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