MiMedx Group, Inc. (MDXG) saw its stock price surge 10.43% in after-hours trading on Wednesday, following the release of its impressive second-quarter financial results and the announcement of a strategic collaboration with Vaporox, Inc.
The company reported record-breaking Q2 results, with sales reaching $98.605 million, significantly surpassing the IBES estimate of $90.6 million. MiMedx's adjusted earnings per share (EPS) came in at $0.10, beating the consensus estimate of $0.05. The strong performance was further underscored by an operating income of $12.37 million and a net income of $9.618 million for the quarter.
Adding to the positive sentiment, MiMedx announced a strategic collaboration with Vaporox, Inc. to co-promote and co-market their wound care products. As part of this agreement, MiMedx has invested in Vaporox and secured certain exclusivity rights related to potential acquisition discussions. The partnership is expected to strengthen MiMedx's position in the wound care market and contribute to future growth. Furthermore, the company provided an optimistic outlook for 2025, projecting net sales growth in the low double-digits.
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