Vericel Announces Preliminary Fourth-Quarter and Whole-12 months 2020 Economic Effects and Supplies Company Updates

History Quarterly and Comprehensive-Calendar year Complete Revenues

Fourth Quarter Revenue Development of Roughly 15%

CAMBRIDGE, Mass., Jan. 11, 2021 (Globe NEWSWIRE) — Vericel Company (NASDAQ:VCEL), a leader in superior therapies for the athletics medication and serious burn up care marketplaces, these days introduced preliminary unaudited money benefits for the fourth quarter and year finished December 31, 2020, and offered organization updates.

Preliminary Unaudited Fourth-Quarter and Total-Year 2020 Money Effects
Preliminary total net revenues for the fourth-quarter 2020 are expected to be in the array of $44.9-$45.4 million, with MACI^® (autologous cultured chondrocytes on porcine collagen membrane) internet profits in the selection of $34.4-$34.9 million, Epicel^® (cultured epidermal autografts) internet revenue of approximately $9.6 million, and NexoBrid^® (concentrate of proteolytic enzymes enriched in bromelain) earnings of around $1 million linked to the U.S. Biomedical Superior Investigation and Enhancement Authority’s (BARDA) procurement of NexoBrid for unexpected emergency response preparedness.  

Preliminary overall web solution revenues for the entire-year 2020 are expected to be in the assortment of $123.9-$124.4 million, with MACI web profits in the assortment of $94.1-$94.6 million, Epicel net earnings of around $27.5 million, and NexoBrid earnings of close to $2.2 million relevant to the BARDA procurement.&#13

Funds and investments increased by roughly $14.5 million in the fourth quarter. As of December 31, 2020, the enterprise experienced about $100 million in cash and investments and no personal debt, as opposed to $79. million as of December 31, 2019.

Business enterprise Highlights and Updates

• History fourth-quarter and whole-year total net revenues
• Record quarterly and entire-12 months MACI implants and internet income
• Report fourth-quarter and whole-12 months Epicel grafts and net profits, and the 2nd optimum quarterly Epicel grafts and earnings in heritage
• Gained MACI biopsies from approximately 1,500 surgeons in 2020, up from about 1,400 surgeons in 2019
• History quarterly substantial in the selection of surgeons using MACI biopsies in the fourth quarter and
• Double-digit growth in MACI biopsies in the fourth quarter, achieving a document quarterly superior and a history regular large in December.

“We shipped powerful monetary and operational results in the fourth quarter and for the full calendar year, which includes report product volumes and profits for both of those MACI and Epicel for the year,” explained Nick Colangelo, President and CEO of Vericel.   “Epicel efficiency was really potent in the fourth quarter, with earnings developing around 60% for the quarter. MACI effectiveness was in line with our expectations as a result of mid-December. Having said that, thanks to the new surge in COVID-19 situations in the United States, the scheduling of MACI pipeline instances for the past two weeks of December slowed when compared to historic trends and there was an boost in scenario cancellations throughout that period of time. We anticipate, primarily based on our experience before this calendar year, that the bulk of those MACI cases, which represent close to $2 million in earnings, will transfer ahead in 2021.   In addition, the fundamental progress drivers for MACI were being in line with our anticipations, which we believe will push potent earnings and profitability expansion in 2021.”

The firm will host a webcast and conference contact to examine its fourth quarter 2020 financial final results and small business highlights on February 24, 2020, at 8:30am Eastern Time. Webcast data can be found on the events and presentation section of the Trader Relations web page at https://traders.vcel.com/occasions-presentations.

About Vericel Corporation
Vericel is a leader in advanced therapies for the sporting activities medicine and critical burn up treatment marketplaces. The firm markets two cell remedy solutions in the United States. MACI (autologous cultured chondrocytes on porcine collagen membrane) is an autologous cellularized scaffold merchandise indicated for the restore of symptomatic, single or numerous complete-thickness cartilage defects of the knee with or without the need of bone involvement in adults. Epicel (cultured epidermal autografts) is a long-lasting skin substitute for the cure of clients with deep dermal or comprehensive-thickness burns better than or equivalent to 30% of full human body surface area space. The company also holds an distinctive license for North American professional legal rights to NexoBrid, a registration-stage organic orphan product or service for debridement of serious thermal burns.   For a lot more info, make sure you go to the company’s web-site at www.vcel.com.&#13

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

Preliminary and Unaudited Mother nature of Noted Benefits
Our income anticipations for the fourth quarter and entire yr finished 2020, as effectively as our estimates about income and investments are preliminary, unaudited and are issue to adjustment centered on the completion of our ongoing inner manage, evaluate, and audit procedures.

Forward-On the lookout Statements
Vericel cautions you that all statements other than statements of historic simple fact provided in this press release that tackle routines, situations or developments that we anticipate, think or foresee will or may possibly come about in the potential are forward-looking statements. While we consider that we have a reasonable foundation for the forward-looking statements contained herein, they are primarily based on recent anticipations about long term occasions impacting us and are issue to challenges, assumptions, uncertainties and things relating to our functions and company ecosystem, all of which are hard to forecast and many of which are outside of our control. Our real outcomes could differ materially from individuals expressed or implied by the ahead-seeking statements in this press launch. These statements are often, but are not usually, created by means of 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 upcoming or conditional verbs these as “will,” “would,” “should,” “could,” “may,” or identical expressions.

Amongst the variables that might outcome in distinctions are the inherent uncertainties connected with our anticipations about expected revenue success for the fourth quarter and comprehensive 12 months ended 2020 and estimates of our cash and investments as of December 31, 2020. Vericel’s earnings expectations for the fourth quarter and complete yr ended 2020, as nicely as its estimates concerning hard cash and investments are preliminary, unaudited and are topic to adjustment in the course of our ongoing inner review. Added elements that could cause actual results to vary materially from individuals set forth in the ahead-searching statements involve, but are not limited to uncertainties linked with our anticipations with regards to foreseeable future revenues, progress in revenues, market place penetration for MACI and Epicel, growth in profit, gross margins and working margins, the means to obtain or sustain profitability, contributions to altered EBITDA, the expected concentrate on surgeon audience, possible fluctuations in revenue and volumes and our effects of functions around the study course of the yr, competitive developments, alterations in third occasion protection and reimbursement, our capability to supply or meet consumer need for our products and solutions, and the large-ranging impacts of the COVID-19 pandemic on our business or the overall economy typically.

With respect to COVID-19, we are presently not able to reasonably estimate the precise extent, or duration, of the affect of the COVID-19 outbreak on our business enterprise, monetary and functioning outcomes. We are also not able to forecast how the outbreak will affect the pace with which state and community governments carry limits on the overall performance of elective surgical techniques or whether or not supplemental these types of restrictions could be imposed by states in the long term, the availability of physicians and/or their remedy prioritizations or the effect of the outbreak on the general health care infrastructure. Other disruptions or likely disruptions contain constraints on the potential of Firm personnel to journey and obtain consumers for teaching, marketing and scenario guidance, delays in product or service progress initiatives, and added governing administration-imposed quarantines and specifications to “shelter at home” or other incremental mitigation attempts that might effects our capability to source supplies for our functions or our means or ability to manufacture, sell and support the use of our solutions. With respect to FDA’s critique of the pending NexoBrid Biologics License Software, the COVID-19 pandemic might impact the FDA’s response time to regulatory submissions, its means to monitor our medical trials, and/or carry out essential opinions or inspections, any or all of which may well consequence in timelines being materially delayed, which could have an impact on the growth and greatest commercialization of NexoBrid. The total effect of these disruptions could have a materials affect on the Company’s economical problem, cash flows and benefits of operations.&#13

These and other important components are reviewed in bigger detail in Vericel’s Once-a-year Report on Kind 10-K for the yr ended December 31, 2019, filed with the Securities and Trade Commission (“SEC”) on February 25, 2020, Vericel’s Quarterly Report on Form 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 forward-on the lookout statements mirror our sights as of the date hereof and Vericel does not suppose and specially disclaims any obligation to update any of these ahead-seeking statements to reflect a adjust in its views or functions or circumstances that occur just after the day of this launch besides as required by regulation.

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