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Axogen, Inc. Reports Preliminary Revenue for the First Quarter 2020, Provides Business Update in Response to COVID-19 Pandemic, and Announces Dismissal of Class Action Lawsuit

Axogen, Inc. (AXGN) 
Last axogen, inc. earnings: 2/24 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.axogeninc.com
Company Research Source: GlobeNewswire
ALACHUA, Fla., April 23, 2020 (GLOBE NEWSWIRE) -- Axogen, Inc. (NASDAQ: AXGN), a global leader in developing and marketing innovative surgical solutions for peripheral nerve injuries, today announced preliminary first quarter 2020 revenue, provided a business update on its actions in response to the COVID-19 pandemic, and announced the dismissal of its class-action lawsuit. First quarter 2020 net revenue is estimated to be approximately $24.3 million, an increase of approximately 4% over the first quarter 2019. Although revenue exiting February was trending toward the Company’s annual guidance, hospital reallocation of resources toward the COVID-19 pandemic, along with deferrals and restrictions placed on elective procedures, had a material negative impact on revenue in March. Additionally, management believes that demand for the Company’s products has been temporarily reduced as nationwide shelter-in-place orders have lowered the incidence of traumatic injuries.  In response to t Show less Read more
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