|Bid||3.70 x 3000|
|Ask||3.90 x 2200|
|Day's Range||3.45 - 3.94|
|52 Week Range||3.01 - 18.25|
|PE Ratio (TTM)||12.51|
|Earnings Date||Feb 23, 2018 - Mar 5, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||18.50|
United Healthcare, one of the nation’s largest insurance companies, has determined that amniotic tissue products made by MiMedx Group Inc. and other manufacturers are “unproven and/or not medically necessary for any indication,” and won’t reimburse patients for their use, according to the insurer’s most recent medical policy update bulletin. The updated policy at United Healthcare, which goes into effect Oct. 1, came about because of “insufficient clinical evidence of safety and/or efficacy in published peer-reviewed medical literature” about the products, the bulletin said. “Unlike many other insurers, UnitedHealthcare has not covered MiMedx products, so this does not represent a change in coverage,” said a MiMedx spokesman.
MARIETTA, Ga., Aug. 15, 2018 /PRNewswire/ -- MiMedx Group, Inc. (MDXG), a leading developer and marketer of regenerative and therapeutic biologics, today announced that it received written notification, as expected, from the Nasdaq Stock Market indicating that the Company's failure to timely file a Form 10-Q for the period ended June 30, 2018 could serve as an additional basis for delisting, and that the Company should be prepared to address the additional delinquency at its already scheduled hearing in September before a Nasdaq Hearings Panel (the "Panel"). Nasdaq previously notified the Company that it was not in compliance with Nasdaq Listing Rule 5250(c) due to the delay in the Company's filing of the Form 10-K for the year ended December 31, 2017 and Form 10-Q for the period ended March 31, 2018.
MiMedx products are manufactured according to current Good Tissue Practices (cGTP) standards, pursuant to the Food and Drug Administration ("FDA") regulations specified in 21 CFR 1271, which are the requirements and guidelines the Company must follow. MiMedx is also in compliance with the American Association of Tissue Banks' 14th standard, of which the Company is a fully accredited member in good standing. In addition, certain MiMedx products are marketed as cellular and tissue based products ("HCT/Ps") under Section 361 of the Public Health Service Act until either a biologics license application ("BLA") by the Company is approved or the FDA's enforcement discretion under the November 2017 guidance document1 ends.
The decision by Health Care Service Corp., effective Aug. 1, will likely curb the use of products promoted aggressively for an array of ailments including hair loss, erectile dysfunction, knee pain and osteoarthritis. The policy change, which hasn’t been publicly reported, was issued by the nation’s largest customer-owned health insurer, the parent of Blue Cross/Blue Shield operations covering 15 million members in Illinois, Montana, New Mexico, Oklahoma and Texas. The company said it won’t reimburse for injections of human amniotic fluid or “micronized or particulated human amniotic membrane,” such as MiMedx’s Amniofix products.
MARIETTA, Ga., Aug. 13, 2018 /PRNewswire/ -- MiMedx Group, Inc. (MDXG), a leading developer and marketer of regenerative and therapeutic biologics, today announced that a Nasdaq Hearings Panel (the "Panel") granted the Company's request for a listing extension. This allows for the continued trading of the Company's common stock on The Nasdaq Stock Market until the Panel make its determination of the Company's appeal of the Nasdaq staff's delisting notification. The Company is requesting that the Panel allow the Company additional time to regain compliance with Listing Rule 5250(c)(1), which requires the timely filing of periodic reports with the Securities and Exchange Commission.
MARIETTA, Ga., Aug. 9, 2018 /PRNewswire/ -- MiMedx Group, Inc. (MDXG), a leading developer and marketer of regenerative and therapeutic biologics, today announced that it received regulatory approval from the Therapeutics Goods Administration (TGA) in Australia to market and sell a broad array of the Company's dehydrated Human Amnion/Chorion Membrane (dHACM) products. This includes EpiFix®, AmnioFix®, EpiBurn®, AmnioFix Injectable, and AmnioFix Wrap, among others. MiMedx products are classified as a Biological in Australia and are regulated by the TGA, a part of the Australian Government Department of Health that is responsible for regulating the import, supply, manufacture, export and advertising of therapeutic goods.
- Publication in Peer-Reviewed Journal Underscores Statistically Significant Difference Seen in Pain and Foot Function Compared to Control Group - Mean Visual Analog Scale (VAS) Score for Pain Was Reduced ...
SAN FRANCISCO, Aug. 1, 2018 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP is investigating whether certain directors and officers of MiMedx Group, Inc. ("MiMedx" or the "Company") (MDXG), a biopharmaceutical company, breached their fiduciary duties by causing the Company to engage in accounting manipulation and issue false and misleading statements to shareholders and the market. In February 2018, a class action complaint was filed against the Company alleging that between March 7, 2013 and February 19, 2018, MiMedx was engaged in a "channel-stuffing" scheme designed to improperly recognize revenue, and that the Company lacked adequate internal controls over financial reporting. According to the complaint, in December 2016, two former MiMedx employees filed a complaint against the company alleging that MiMedx fired them for reporting fraudulent revenue recognition practices.
The tissue graft developer said in a press release that it notified Nasdaq on July 10 that it would be unable to bring its SEC filings into compliance. MiMedx said it plans to request a hearing to appeal the decision. The company said, citing a letter it received from Nasdaq, that any hearing would likely take place 30 to 45 days after the hearing request.
MARIETTA, Ga., July 26, 2018 /PRNewswire/ -- MiMedx Group, Inc. (MDXG), a leading developer and marketer of regenerative and therapeutic biologics, today provided an update concerning the status of its compliance with the Listing Rules of the Nasdaq Stock Market. On July 10, 2018, MiMedx notified the Nasdaq staff that the Company will be unable to bring its SEC filings up to date by the initial August 28, 2018 deadline previously communicated by the Nasdaq staff. Consequently, on July 20, 2018, the Company received an anticipated letter from the Nasdaq staff, stating that, because MiMedx will not regain compliance with Nasdaq Rule 5250(c)(1) by such initial deadline, the Nasdaq staff had determined that the Company's stock will be delisted unless the Company requests a hearing before a Nasdaq Listing Qualifications Panel ("Hearings Panel") by July 27, 2018.
In June, the company said an internal investigation had shown that its reported financial results going back to 2012 were no longer reliable and would have to be restated. An interim CEO who specializes in restructuring troubled businesses is running the company. A Wall Street Journal review of company emails, court documents and internal complaints, plus interviews with current and former employees, paint a picture of a company seeking to grow at almost any cost.
NEW YORK, NY / ACCESSWIRE / July 20, 2018 / MiMedx Group and BioPharmX both saw big jumps after announcing positive news. The former announced the appointment of a new Chief Compliance Officer while the latter announced that the Food and Drug Administration has waived its requirement for a dermal carcinogenicity study for BPX-01. Traders cheered at the news as this eliminates years of non-clinical research normally required for FDA review.
MARIETTA, Ga., July 18, 2018 /PRNewswire/ -- MiMedx Group, Inc. (MDXG), a leading developer and marketer of regenerative and therapeutic biologics, today announced that it has appointed Mark P. Graves to the position of Chief Compliance Officer. Mr. Graves will be responsible for providing direction and oversight of MiMedx's compliance program, including the Company's regulatory and legal compliance matters related to the Company's risk management, sales operations and financial reporting. Mr. Graves will report to Ed Borkowski, the Company's Executive Vice President and Interim Chief Financial Offficer on a day-to-day basis.
On Tuesday, July 17, 2018, the NASDAQ Composite, the Dow Jones Industrial Average, and the S&P 500 edged higher at the closing bell. Six out of nine sectors ended Tuesday's trading session in bullish territories. Taking into consideration yesterday's market sentiment, WallStEquities.com assessed the following Medical Appliances & Equipment equities this morning: AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX), Masimo Corp. (NASDAQ: MASI), Medtronic PLC (NYSE: MDT), and MiMedx Group Inc. (NASDAQ: MDXG).
NEW YORK , July 10, 2018 /PRNewswire/ -- Hynes Keller & Hernandez, LLC is investigating potential claims against certain officers and directors of MiMedx Group, Inc. (NASDAQ: MDXG). Our investigation ...
NEW YORK, July 03, 2018-- Bragar Eagel & Squire, P.C. reminds investors that the Firm is investigating potential claims against certain officers and directors of MiMedx Group, Inc... In April 2018, investors ...
NEW YORK, NY / ACCESSWIRE / July 3, 2018 / Adamis Pharmaceuticals shares exploded on Monday after announcing that it has found a commercial partner for its allergic reaction treatment Symjepi. Shares of MiMedx Group fell hard after Wall Street learned the company's CEO and COO have both resigned amidst an ongoing investigation in the company's business practices. Adamis Pharmaceuticals Corporation shares closed up 50% on Monday with about 11.5 million shares traded.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling the Peaks (Stocks hitting 52-week highs on July 2) Acer Therapeutics Inc (NASDAQ: ACER ) Arrowhead Pharmaceuticals ...
EY became MiMedx auditor last August but hasn’t yet issued an opinion as the biotech continues losing executives and withdraws more than five years of financial infoBloomberg News/Ernst & Young LLP is one of the largest public accounting firms in the world. MiMedx Group, Inc. played a version of, “Can you top that?” on Monday, when the troubled biopharmaceutical company installed an interim CEO and a new board chairman following the latest wave of executive departures. The company appointed Charles R. Evans, previously the company’s lead independent director, as chairman of the board, replacing Parker H. “Pete” Petit who resigned as board chairman and chief executive.