MiMedx’s donor program
Through MiMedx Group’s (MDXG) donor program, a mother scheduled to deliver a baby by cesarean section can opt to donate her placental tissue, instead of having it discarded as medical waste. MiMedx then collects and converts the donated tissue into a safe and sterile product.
Physician office pain management
MMiMedx’s OrthoFlo, AmnioFix injectable, and AmnioFix sports med products all address chronic pain caused by osteoarthritis. In 2015, 14.9 million injections were performed to treat pain in shoulders, spine, foot, ankle, and elbow in the US, with 7.8 million of these being injections in the knee, 3.2 million in the elbow, and steroids accounting for an 85% share by volume.
As many patients do not get relief from steroid injections (or are averse to steroid use), there’s now a need for new products that are safer than steroids but still effective at treating patients.
To address this opportunity, MiMedx’s OrthFlo, AmnioFix injectable, and AmnioFix sports med lubricants are being investigated as potential product candidates in this market. These product candidates modulate inflammation and reduce scar tissue formation while enhancing the healing process.
From January 31, 2017, to January 31, 2018, the share price of MiMedx group has zoomed up by 120%, from ~$8 to $17.2. By comparison, the stock prices of peers Atricure (ATRC), Globus Medical (GMED), and Inogen (INGN) have risen 6.8%, 80.5%, and 93.0%, respectively, during the same period.
Notably, MiMedx Group makes up ~1.86% of the SPDR S&P Biotech ETF’s (XBI) total portfolio holdings.
In the next and final part of this series, we’ll take a closer look at MiMedx Group’s recent financial performance.