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Share Name | Share Symbol | Market | Type |
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Vericel Corporation | NASDAQ:VCEL | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 50.33 | 22.19 | 80.02 | 0 | 09:09:42 |
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(State or other jurisdiction of incorporation)
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(I.R.S. Employer Identification No.)
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(Address of principal executive offices)
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(Zip Code)
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Item 2.02. |
Results of Operations and Financial Condition.
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Item 7.01. |
Regulation FD Disclosure.
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Item 9.01. |
Financial Statements and Exhibits.
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Exhibit No.
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Description
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99.1
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Press Release, dated January 9, 2024, titled “Vericel Announces Preliminary Full-Year and Fourth Quarter 2023 Financial Results”
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99.2 | Vericel Corporation Presentation, dated January 9, 2024 | |
104 *
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Cover Page Interactive Data File (embedded within the Inline XBRL)
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Exhibit No.
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Description
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Press Release, dated January 9, 2024, titled “Vericel Announces Preliminary Full-Year and Fourth Quarter 2023 Financial Results”
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99.2 | Vericel Corporation Presentation, dated January 9, 2024 | |
104 *
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Cover Page Interactive Data File (embedded within the Inline XBRL)
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Vericel Corporation
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Date: January 9, 2024
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By:
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/s/ Sean C. Flynn
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Name: Sean C. Flynn
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Title: Senior Vice President, General Counsel and Secretary
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Vericel Corporation
64 Sidney Street
Cambridge, MA 02139
T 617 588-5555 F 617 588-5554
www.vcel.com
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Total net revenue expected to be approximately $197.5 million, representing 20% growth
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MACI® net revenue expected to be approximately $164.8 million, representing 25% growth
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Burn Care net revenue expected to be approximately $32.7 million, consisting of approximately $31.6 million of Epicel® revenue and $1.1 million of NexoBrid® revenue
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Gross margin expected to be in the high-60% range
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Adjusted EBITDA margin expected to be in the mid-teens percentage range, with full-year adjusted EBITDA growth expected to be approximately 30%
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As of December 31, 2023, the Company had approximately $152 million in cash, restricted cash and investments and no debt
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Total net revenue expected to be approximately $65.0 million, representing 23% growth
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MACI net revenue expected to be approximately $56.7 million, representing 22% growth, marking the sixth straight quarter of 20%+ MACI growth
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Burn Care net revenue expected to be approximately $8.3 million, representing 31% growth, consisting of approximately $7.8 million of Epicel revenue and $0.5 million of NexoBrid revenue
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Positive adjusted EBITDA and Operating Cash Flow expected for the 14th straight quarter
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Gross margin expected to be greater than 70%
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Adjusted EBITDA margin expected to be approximately 30%
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Highest number of MACI implants, implanting surgeons, surgeons taking biopsies and MACI biopsies in a quarter since launch
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Highest number of Epicel biopsies in a quarter since 2021
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NexoBrid commercial launch in the U.S., with over 50 burn centers submitting packages to Pharmacy and Therapeutics (P&T) committees and over 25 burn centers with P&T committee
approvals
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Document and Entity Information |
Jan. 09, 2024 |
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Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jan. 09, 2024 |
Entity File Number | 001-35280 |
Entity Registrant Name | Vericel Corporation |
Entity Central Index Key | 0000887359 |
Entity Incorporation, State or Country Code | MI |
Entity Tax Identification Number | 94-3096597 |
Entity Address, Address Line One | 64 Sidney Street |
Entity Address, City or Town | Cambridge |
Entity Address, State or Province | MA |
Entity Address, Postal Zip Code | 02139 |
City Area Code | 617 |
Local Phone Number | 588-5555 |
Title of 12(b) Security | Common Stock, no par value |
Trading Symbol | VCEL |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
1 Year Vericel Chart |
1 Month Vericel Chart |
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