axgn 3q12 fact sheet
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3Q11 3Q12 2010 2011* YTD 2012
$4.2
$1.4
$2.4
$1.6
Gross Profit
Corporate profileAxoGen, Inc. is a leading regenerative medicine company focused on the commercialization of its portfolio of proprietary products and technologies for peripheral nerve reconstruction and regeneration.
Headquarters: Alachua, FLNumber of employees: 52 Products and Services: Peripheral Nerve Reconstruction
Peripheral nerves provide the pathways for both motor and sensory signals throughout the body and their damage can result in the loss of function and feeling. In order to improve surgical reconstruction and regeneration of peripheral nerves, AxoGen has developed and licensed patented and patent-pending technologies, which are used in its portfolio of products. This portfolio includes Avance® Nerve Graft, the only commercially available allograft nerve for bridging peripheral nerve discontinuities (a gap created when the nerve is severed) of up to 70mm in length.
AxoGen’s portfolio also includes AxoGuard® Nerve Connector, a coaptation aid allowing for close approximation of severed nerves, and AxoGuard® Nerve Protector, a bioscaffold used to reinforce a coaptation site, wrap a partially severed nerve or isolate and protect nerve tissue. AxoGen is bringing the science of nerve repair to life with thousands of surgical implants of AxoGen products performed in hospitals and surgery centers across the United States, including military hospitals serving U.S. service men and women.
Strong performancedollars in millions, except where noted
3Q11 3Q12 2010 2011 YTD 2012
$5.6
$2.0
$4.8
$3.0
$1.1
RevenuesThird quarter2012 highlightsCompleted Financing$20.80 million in financing with PDL BioPharma, Inc. closed post third quarter
Improved third quarter revenuesRevenues increased 74% to $1.98 million from $1.14 million reported third quarter 2011
Higher profit marginsGross profit increased to $1.44 million from $10,000 reported third quarter 2011
Gross profit margins improved to 73% compared to 0.9% for the same period in 2011
INVESTOR FACT SHEETPeriod ended September 30, 2012
SymbolAXGNExchangeOTCBBPrice at 11.07.12$2.7052-Week High$4.0052-Week Low$2.06Market Capitalization$31 Million
3Q12 Revenues $1.98 Million
Cash$15.8 Million as of November 1, 1012
Total BankDebt Outstanding$0 Millionas of November 1, 1012
Continued >
*Excludes one-time write-off of inventory
+74%
+60%
$.010
+74%
+75%
Quarterly Annually Quarterly Annually
mm gap
70
65
60
55
50
45
40
35
30
25
20
15
10
5
0
• Processed nerve allograft for bridging severed peripheral nerves
• Wraps and protects injured nerves
• Reinforces coaptation
• Bridges gaps up to 5mm • Coaptation aid
21
3Q 2012 2Q 2012 3Q 2011 2011(1)
Income Statement:Net Revenues $1,980 $2,012 $1,140 $4,849
Gross Profit $1,439 $1,510 $10 $2,422
Gross Margin 73% 75% 1% 50%
Net Income (Loss) (2) ($2,237) ($1,766) ($3,113) ($9,220)
Balance Sheet:Cash & Cash Equivalents $4,445 $4,638 $10,526 $8,191
Company leadership:Karen Zaderej – Chief Executive OfficerGreg Freitag – Chief Financial Officer Jill Schiaparelli – SVP Business Strategy & MarketingJohn Engels – Vice PresidentMark Friedman, Ph.D. – VP of Regulatory Affairs
Company contact:Greg FreitagChief Financial OfficerAxoGen, Inc. 13859 Progress Blvd., Suite 100Alachua, FL 32615P 972.308.6830axogeninc.com
Financial summarydollars in thousands
Business summaryAxoGen is a regenerative medicine company with a proprietary product portfolio for peripheral nerve reconstruction and regeneration in a wide range of nerve gap sizes.
Investor contact:
1230 Peachtree Street19th FloorAtlanta, GA 30309P 404.942.3369cockrellgroup.com
Investment highlights• The US market opportunity
exceeds $1 billion• First mover in peripheral nerve
reconstruction• Only complete peripheral nerve
product portfolio• Highly scalable infrastructure• Poised for rapid growth
2012 objectives• Increase investment in sales and
marketing• Execute on commercialization
strategy• Expand to new markets, while
penetrating existing markets• Educate the market about
products’ value propositionThe January, 2012 edition of Microsurgery contains an article summarizing the RANGER study results to date, reporting over 87% meaningful recovery in sensory, motor and mixed nerve injuries treated with the Avance® Nerve Graft (Published Microsurgery DOI: 10.1002/micr.20975.) It is commonly accepted among surgeons who do peripheral nerve repair that success of surgery depends on the type of injury, length of nerve discontinuity, the patient’s age and the type of nerve. Our study findings show that with processed nerve allograft, patients can have meaningful recovery regardless of these factors.
Based on our findings, the information I use to counsel my patients prior to surgery will change — this is a paradigm shift.
Darrell Brooks, M.D., plastic surgeon, The Buncke Clinic
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1. Gross Profit excludes one-time write-off of inventory2. Excludes non-recurring income tax benefit of $736,000 for 2Q 2012.
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