MiMedx Posts $8.68M Q3 Loss as Wound-Care Pressure Persists
MDXG sits 31% above its 52-week low of $3.025.
Summary
MiMedx reported a third-quarter net loss of $8.68M, or 6c a share, a modest improvement from the $14.8M loss in Q2 but still red ink for a company with a roughly $576M market cap. Third-quarter sales came in at $62.3M. The prior quarter's damage came from Wound sales falling 61% after Medicare changes, so this quarter's loss suggests the core wound-care business remains under pressure. The results land while MiMedx is mid-flight on its $350M acquisition of Sanara MedTech, which faces an FTC Second Request issued October 15 that extends the HSR waiting period. Cash and dilution matter more than usual here: the deal is financed partly with stock, and a continuing loss narrows the margin for error.
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 negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.