MiMedx (NSDQ:MDXG), already embroiled in an internal accounting snafu and several federal probes, reportedly held from government hospitals some of the lower-cost products it made available to private hospitals. In limiting its regenerative wound care offering to U.S. Veteran Affairs Dept. and other federal caregivers, Marietta, Ga.-based MiMedx ran up the tab on taxpayers, the Wall […]
Ex-MiMedx brass blast back
Some of the former top brass at MiMedx (NSDQ:MDXG), who were let go over the summer for what the company later determined to be “for cause,” said that their ousters were part of an out-of-control internal investigation. Last week MiMedx, which makes regenerative and therapeutic biologics using human placental tissue allografts, said a probe into its accounting practices […]
MiMedx: Ouster of top brass was for cause
MiMedx (NSDQ:MDXG) said yesterday that the ouster this summer of four top executives was “for cause” after a probe into its accounting practices turned up “conduct detrimental to the business or reputation of the company.” Marietta, Ga.-based MiMedx makes regenerative and therapeutic biologics using human placental tissue allografts. Last July CEO Parker Petit and president & COO […]
MiMedx top brass resign amid internal accounting investigation
MiMedx CEO Parker H. “Pete” Petit and COO and President William C. “Bill” Taylor have resigned as a board-directed independent investigation continues into accounting practices, Marietta, Ga.–based MiMedx (Nasdaq: MDXG) announced today. Petit and Taylor’s exit comes after recent departures of MiMedx’s CFO and corporate controller and treasurer. In addition to the resignations of top brass, the […]
Osiris levels $7m trade theft, breach-of-contract suit against MiMedx over Stability Biologics deal
Osiris Therapeutics leveled trade theft and breach-of-contract charges worth nearly $7 million against a regenerative medicine rival, stemming from the Stability Biologics acquisition by MiMedx (NSDQ:MDXG). Columbia, Md.-based Osiris said it inked a distribution deal back in 2013 to have Stability sell a pair of its products through the end of 2015. But after MiMedx paid $10 million for […]
MiMedx wins FDA regenerative med status for AmnioFix
MiMedx (NSDQ:MDXG) won regenerative medicine advanced therapy status from the FDA for its injectable osteoarthritis drug, AmnioFix, the company announced this week. The U.S. regulatory watchdog told MiMedx that the company provided sufficient preliminary evidence that AmnioFix could address unmet needs for patients with osteoarthritis of the knee. Get the full story at our sister site, […]
MiMedx shares tumble on internal accounting investigation, delayed 2017 earnings
MiMedx (NSDQ:MDXG) shares have lost nearly a third of their value today after the company announced it is delaying the release of its 2017 financial results due to an internal investigation into alleged issues with sales and distribution practices at the company. The Marietta, Ga.-based company said that its board’s audit committee has tapped a group of […]
MiMedx settles former employee breach of contract suit
MiMedx (NSDQ:MDXG) said today it agreed to a confidential lawsuit settlement with former employee William Mills, who the company previously alleged broke contract by selling another company’s medical products while employed at MiMedx. The Marietta, Ga.-based company said that Mills voluntarily resigned from his position in January this year, and that the lawsuit was a “dispute solely […]
FDA OKs trial for MiMedx AmnioFix knee treatment, prelims
MiMedx (NSDQ:MDXG) saw shares rise today after announcing 3rd quarter revenue that beat consensus on The Street alongside FDA approval to proceed with the Investigational New Drug phase 2B study of its AmnioFix injectable product. The Marietta, Ga.-based company said it expects to post sales of $84.6 million for its 3rd quarter, well ahead of both […]
MiMedx closes Stability Biologics sale
MiMedx (NSDQ:MDXG) said this week that it completed the divestiture of its subsidiary, Stability Biologics, back to the former stockholders of Stability, Inc. The deal, which closed on Sept. 30, included a promissory note issued by Stability Biologics for $3.5 million in favor of MiMedx. Get the full story at our sister site, Drug Delivery Business […]
MiMedx files IND for Ph2 AmnioFix osteoarthritis trial
MiMedx (NSDQ:MDXG) said today that it filed an IND with the FDA for a Phase II trial of its AmnioFix product in patients with osteoarthritis of the knee. The 318-patient study is designed to compare the safety and efficacy of MiMedx’s micronized dehydrated human amnion/chorion membrane (dHACM) injection with a 0.9% sodium chloride USP placebo injection. […]
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