MiMedx Lands $25M Patent License Deal With Wound Care Rival
MDXG sits 31% above its 52-week low of $3.025.
Summary
MiMedx settled patent infringement claims against an unnamed wound care competitor by signing a license deal worth $25 million. The licensee pays in five $5 million installments — the first is already in hand, with the rest due annually on the signing anniversary — and gets a non-exclusive license to the covered patents. That is meaningful cash for a company with a roughly $576 million market cap that just posted an $8.68 million Q3 net loss, and it validates the placental-biologics patent portfolio the company has been defending. The counterparty is not involved in MiMedx's two other ongoing infringement suits, where the company says it has already won favorable claim construction rulings, and the USPTO recently upheld all sixteen claims of its '092 patent. The recurring $5 million annual stream is the number to track; the company did not name the licensee or the patents covered.
At the time of this announcement, MDXG was trading at $3.95 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $575.8M. The 52-week trading range was $3.03 to $7.97. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.