Axogen appoints new VP of Regulatory Affairs

ALACHUA, Fla. and TAMPA, Fla. - Axogen, Inc. (NASDAQ: AXGN), a company specializing in solutions for peripheral nerve injuries, announced today the appointment of Jesse Bishop as Vice President of Regulatory Affairs. The company, currently valued at $801 million and showing strong revenue growth of 19% year-over-year, made this strategic appointment to strengthen its regulatory leadership. In his new role, Bishop will be responsible for leading the company’s regulatory strategies domestically and internationally. His duties will include overseeing product registrations, licenses, and maintaining compliance with regulatory agencies.

Bishop brings over 13 years of experience in regulatory strategy and has held leadership positions at Thermo Fisher Scientific (NYSE:TMO), RGI Medical (TASE:PMCN) Manufacturing, Ology Bioservices, and Lacerta Therapeutics. He also has a military background as a Ranger Team Leader and Combat Medic in the U.S. Army Special Operations. Bishop earned his master’s degrees in medical sciences and business administration from the University of Florida. According to InvestingPro data, Axogen maintains a strong financial health profile with liquid assets exceeding short-term obligations.

Michael Dale, the President and CEO of Axogen, expressed confidence in Bishop’s extensive experience and understanding of the biologics and medical device sectors, which will be instrumental as the company advances its regulatory initiatives and expands its product portfolio.

In line with his appointment, Bishop will receive an inducement grant of 45,000 Restricted Stock Units (RSU) on March 3, 2025, which will vest over a four-year period. This equity grant is part of his employment with Axogen and aims to align his interests with those of the company’s shareholders.

Axogen is recognized for its dedication to peripheral nerve regeneration and repair technologies. The company offers a range of products used in both scheduled non-trauma procedures and emergent trauma procedures, with availability across multiple countries, including the United States, Canada, Germany, the United Kingdom (TADAWUL:4280), Spain, South Korea, among others. The company’s stock has delivered an impressive 90% return over the past year, and InvestingPro analysis reveals multiple positive indicators, including upward earnings revisions by four analysts. Investors seeking detailed insights can access comprehensive analysis through InvestingPro’s Research Reports, available for over 1,400 US stocks including Axogen.

This announcement is based on a press release statement from Axogen, Inc.

In other recent news, AxoGen (NASDAQ:AXGN), Inc. has been making waves with its financial performance and strategic advancements. In the Q3 2024 Earnings Call, the company reported a significant 18% year-over-year increase in revenue, reaching $48.6 million, and a rise in adjusted EBITDA to $6.5 million from $2.4 million in Q3 2023. The firm also announced the submission of the Biologic License Application (BLA) for their Avance Nerve Graft, which the FDA has accepted for priority review, expected to conclude by September 2025.

Moreover, Canaccord Genuity has raised AxoGen’s stock price target to $22.00 from the previous $18.00, following the company’s impressive Q4 2024 preannouncement results. The new price target is derived from applying a 4.3x enterprise value to sales multiple to the forecasted 2026 revenue of $239.1 million.

The company has maintained its revenue guidance for 2024 and expects to achieve a gross margin at the high end of the projected range. AxoGen ended Q3 with $30.5 million in cash and equivalents. These developments reflect the company’s strong financial health and growth prospects, as noted by Canaccord Genuity and AxoGen’s leadership.

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