MiMedx reaffirms Q4/FY2022 sales; warns of Medicare reimbursement risk for skin substitutes

MIMEDX GROUP, INC.

Q4 2022 net sales expected $73M-$76M; FY2022 $266M-$269M, unchanged from Nov 2022 guidance.
About 28% of 2022 sales from private physician office; ~75% of that reimbursed by CMS, over 90% is EPIFIX.
Received FDA TRG letter confirming EPIFIX as Section 361 product in Dec 2022; seeking confirmation for EPICORD.
Restructuring headcount reductions expected to cut annualized costs by ~$5M; sales force realigned for productivity.
Entered distribution partnership with Gunze Medical for EPIFIX in Japan; appointed Ricci Whitlow as COO.

item 2.02 item 7.01 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MIMEDX GROUP, INC. updated its fourth quarter of 2022 and full year 2022 guidance (reaffirmed).

Period: fourth quarter of 2022 and full year 2022
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

reaffirming its fourth quarter of 2022 and full year 2022 net sales expectations.

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Source: SEC EDGAR

accession 0001193125-23-004193

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