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MiMedx Announces Record Second Quarter Results
Date:7/28/2014

s in securing eligibility for reimbursement coverage from all of the MACs with jurisdictions encompassing the entire United States.  The compelling results of these peer-reviewed, published clinical studies are also playing a crucial part in our on-going successes in gaining reimbursement coverage from additional commercial health plans and state Medicaid programs."

Early in the quarter, the Company announced the receipt of four newly issued patents related to the Company's tissue allografts derived from the placenta.  This brings the Company's total to 15 patents issued to MiMedx related to the Company's allografts derived from the amniotic membrane.  "We also have approximately 70 pending patent applications related to our amnion/chorion technology that have been filed in the United States and internationally.  We remain very committed to furthering the protection of our intellectual property," stated Petit.

"We have filed our first Investigational New Drug ("IND") application with the Food and Drug Administration ("FDA").  As we communicated earlier, the filing of this IND is the first step in the process that we expect will culminate in at least two separate Biologics License Applications ("BLAs") for certain indications for use of our micronized allografts.  We expect other BLAs to follow at later dates.  We are pleased with the pace of the progress we have made in our pursuit of the BLA regulatory pathway for certain of our micronized allografts.  We have expanded our Research & Development ("R&D") function in support of this initiative," concluded Petit.

Balance Sheet and Cash Flow
As of June 30, 2014, total assets increased by $1.3 million to $86 million, compared to $84.7 million as of December 31, 2013.  Cash on hand as of June 30, 2014, was $39.2 million, a decrease of $4.9 million due primarily to our share repurchase program, as compared to $44.1 million as of December 31, 2013
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SOURCE MiMedx Group, Inc.
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