Surgical & Sports Medicine Revenue Growth
Net product revenue from Surgical & Sports Medicine products for the second quarter was $8.1 million, up 16% year-over-year.
Strategic Expansion and Innovation
Expansion of biomanufacturing capabilities in Smithfield, Rhode Island and introduction of new products like FortiShield and reintroduction of PMA-approved products Dermagraft and TransCyte.
CMS Payment Reform Proposal
CMS proposed new payment approach for skin substitutes, potentially increasing reimbursement rates significantly, which is expected to benefit Organogenesis' products like Apligraf.
ReNu Program Progress
ReNu program on track for BLA submission by the end of 2025, with promising Phase III study results expected to address knee osteoarthritis in over 30 million Americans.
Operating Expense Reduction
Operating expenses for the second quarter decreased by $30.5 million or 21% year-over-year.