Vericel Announces Preliminary Fourth-Quarter and Comprehensive-Year 2020 Money Outcomes and Gives …

File Quarterly and Complete-12 months Whole Revenues

Fourth Quarter Revenue Development of Roughly 15%

CAMBRIDGE, Mass., Jan. 11, 2021 (Globe NEWSWIRE) — Vericel Corporation (NASDAQ:VCEL), a leader in sophisticated therapies for the athletics medicine and critical burn up treatment marketplaces, nowadays declared preliminary unaudited money final results for the fourth quarter and calendar year finished December 31, 2020, and delivered company updates.

Preliminary Unaudited Fourth-Quarter and Comprehensive-Calendar year 2020 Economic Outcomes
Preliminary overall internet revenues for the fourth-quarter 2020 are expected to be in the range of $44.9-$45.4 million, with MACI® (autologous cultured chondrocytes on porcine collagen membrane) web profits in the vary of $34.4-$34.9 million, Epicel® (cultured epidermal autografts) web revenue of around $9.6 million, and NexoBrid® (focus of proteolytic enzymes enriched in bromelain) earnings of somewhere around $1 million relevant to the U.S. Biomedical Innovative Exploration and Development Authority’s (BARDA) procurement of NexoBrid for crisis response preparedness.

Preliminary total web products revenues for the comprehensive-12 months 2020 are predicted to be in the assortment of $123.9-$124.4 million, with MACI internet earnings in the selection of $94.1-$94.6 million, Epicel net earnings of somewhere around $27.5 million, and NexoBrid income of roughly $2.2 million similar to the BARDA procurement.

Hard cash and investments improved by about $14.5 million in the fourth quarter. As of December 31, 2020, the company had somewhere around $100 million in cash and investments and no debt, in contrast to $79. million as of December 31, 2019.

Organization Highlights and Updates

File fourth-quarter and total-year full net revenues

Record quarterly and entire-year MACI implants and web earnings

Record fourth-quarter and comprehensive-12 months Epicel grafts and web revenue, and the second maximum quarterly Epicel grafts and earnings in history

Been given MACI biopsies from roughly 1,500 surgeons in 2020, up from around 1,400 surgeons in 2019

File quarterly high in the number of surgeons taking MACI biopsies in the fourth quarter and

Double-digit advancement in MACI biopsies in the fourth quarter, reaching a document quarterly significant and a record regular significant in December.

“We sent powerful economic and operational effects in the fourth quarter and for the full year, which include record products volumes and earnings for both equally MACI and Epicel for the calendar year,” stated Nick Colangelo, President and CEO of Vericel. “Epicel effectiveness was really potent in the fourth quarter, with earnings growing about 60% for the quarter. MACI efficiency was in line with our anticipations by way of mid-December. Nevertheless, thanks to the latest surge in COVID-19 conditions in the United States, the scheduling of MACI pipeline instances for the past two weeks of December slowed as opposed to historical trends and there was an boost in case cancellations all through that period. We anticipate, primarily based on our knowledge previously this calendar year, that the greater part of those people MACI scenarios, which characterize about $2 million in revenue, will shift ahead in 2021. Additionally, the fundamental advancement motorists for MACI had been in line with our anticipations, which we consider will generate strong income and profitability advancement in 2021.”

The company will host a webcast and convention connect with to go over its fourth quarter 2020 fiscal outcomes and enterprise highlights on February 24, 2020, at 8:30am Jap Time. Webcast information and facts can be discovered on the gatherings and presentation area of the Trader Relations website at https://traders.vcel.com/occasions-shows.

About Vericel Company
Vericel is a chief in highly developed therapies for the sports activities medication and critical burn up care markets. The business markets two cell remedy products and solutions in the United States. MACI (autologous cultured chondrocytes on porcine collagen membrane) is an autologous cellularized scaffold merchandise indicated for the repair service of symptomatic, solitary or various complete-thickness cartilage flaws of the knee with or without bone involvement in grownups. Epicel (cultured epidermal autografts) is a permanent skin substitute for the cure of people with deep dermal or full-thickness burns bigger than or equivalent to 30% of full body area space. The enterprise also holds an exclusive license for North American professional rights to NexoBrid, a registration-stage biological orphan product or service for debridement of critical thermal burns. For more information and facts, remember to go to the company’s website at www.vcel.com.

Epicel® and MACI® are registered trademarks of Vericel Corporation. NexoBrid® is a registered trademark of MediWound Ltd. and is made use of underneath license to Vericel Corporation. © 2021 Vericel Corporation. All legal rights reserved.

Preliminary and Unaudited Character of Noted Outcomes
Our earnings expectations for the fourth quarter and whole yr ended 2020, as perfectly as our estimates about money and investments are preliminary, unaudited and are subject to adjustment centered on the completion of our ongoing inside management, overview, and audit strategies.

Ahead-Wanting Statements
Vericel cautions you that all statements other than statements of historic point incorporated in this press launch that deal with activities, gatherings or developments that we count on, believe that or anticipate will or could come about in the potential are forward-looking statements. While we believe that we have a sensible basis for the ahead-searching statements contained herein, they are based mostly on existing expectations about foreseeable future situations affecting us and are subject to risks, assumptions, uncertainties and aspects relating to our functions and organization environment, all of which are complicated to forecast and lots of of which are outside of our management. Our genuine final results may perhaps differ materially from those expressed or implied by the forward-searching statements in this push release. These statements are typically, but are not always, designed through the use of phrases or phrases this sort of as “anticipates,” “intends,” “estimates,” “plans,” “expects,” “continues,” “believe,” “guidance,” “outlook,” “target,” “future,” “potential,” “goals” and related phrases or phrases, or long term or conditional verbs such as “will,” “would,” “should,” “could,” “may,” or equivalent expressions.

Amid the factors that might outcome in variations are the inherent uncertainties associated with our expectations regarding expected revenue outcomes for the fourth quarter and whole yr ended 2020 and estimates of our income and investments as of December 31, 2020. Vericel’s income anticipations for the fourth quarter and total calendar year ended 2020, as very well as its estimates about hard cash and investments are preliminary, unaudited and are issue to adjustment in the course of our ongoing inner evaluate. Supplemental aspects that could cause actual outcomes to differ materially from people established forth in the forward-on the lookout statements involve, but are not minimal to uncertainties affiliated with our anticipations pertaining to foreseeable future revenues, progress in revenues, marketplace penetration for MACI and Epicel, progress in gain, gross margins and working margins, the ability to reach or maintain profitability, contributions to adjusted EBITDA, the predicted target surgeon viewers, potential fluctuations in revenue and volumes and our outcomes of operations about the study course of the calendar year, competitive developments, adjustments in third party coverage and reimbursement, our capacity to source or meet up with customer need for our goods, and the extensive-ranging impacts of the COVID-19 pandemic on our company or the financial system commonly.

With regard to COVID-19, we are at this time unable to moderately estimate the precise extent, or period, of the influence of the COVID-19 outbreak on our company, fiscal and operating benefits. We are also not able to predict how the outbreak will have an affect on the rate with which point out and neighborhood governments lift limits on the performance of elective surgical processes or no matter if extra these kinds of constraints may possibly be imposed by states in the long term, the availability of physicians and/or their therapy prioritizations or the impact of the outbreak on the total health care infrastructure. Other disruptions or prospective disruptions consist of limitations on the capacity of Enterprise staff to travel and access prospects for schooling, promotion and case assistance, delays in item growth attempts, and further govt-imposed quarantines and prerequisites to “shelter at home” or other incremental mitigation endeavours that might affect our capacity to source supplies for our operations or our skill or ability to manufacture, promote and guidance the use of our products. With respect to FDA’s evaluate of the pending NexoBrid Biologics License Software, the COVID-19 pandemic might impact the FDA’s response time to regulatory submissions, its skill to keep an eye on our medical trials, and/or conduct needed critiques or inspections, any or all of which might final result in timelines becoming materially delayed, which could have an effect on the growth and supreme commercialization of NexoBrid. The overall affect of these disruptions could have a substance impact on the Company’s economical situation, money flows and benefits of operations.

These and other considerable factors are discussed in higher detail in Vericel’s Yearly Report on Form 10-K for the yr finished December 31, 2019, submitted with the Securities and Exchange Fee (“SEC”) on February 25, 2020, Vericel’s Quarterly Report on Kind 10-Q for the quarter ended September 30, 2020, filed with the SEC on November 5, 2020, and in other filings with the SEC. These ahead-searching statements replicate our sights as of the date hereof and Vericel does not think and specifically disclaims any obligation to update any of these ahead-seeking statements to reflect a improve in its sights or occasions or circumstances that come about right after the date of this launch except as required by legislation.

Investor Contacts:
Chad Rubin
Solebury Trout
[email protected]
+1 (646) 378-2947