AxoGen reports Q3 adjusted EPS 12c, consensus 7c

Reports Q3 revenue $60.1M, consensus $56.9M. “Our third quarter performance reflects the continued maturation of the peripheral nerve repair market, with revenue growing 23.5% to $60.1M and adjusted EBITDA of $9.2M as we scale our commercial operations,” commented Michael Dale, CEO. “New position statements from AAHS and ASRM, together with AAOMS guidelines recognizing nerve allografts as standard medical practice, and the addition of 1.1M additional covered lives, validate our ongoing market development strategy. With double-digit growth across all markets and the expected completion of our Avance Nerve Graft BLA in December, we’re advancing our mission to make peripheral nerve repair an expected standard of care.”