MiMedx, a developer of biomaterial-based products and bioimplants, has posted $1.04 million in total revenue for the first quarter of FY 2011, representing an 808 percent increase compared to $114,900 in revenue for the first quarter of last year, according to a company news release.
Parker H. Petit, chairman and CEO of MiMedx, attributed its increased revenue from sales of its new amniotic membrane biomaterial platform, which the company acquired through its purchase of Surgical Biologics earlier this year, according to the news release.
The company also reported a net loss of $3.35 million, indicating a 6 percent greater loss compared to Q1 of last year due to costs related to the Surgical Biologics acquisition.
Read the company news release about MiMedx's first quarter financial results (pdf).
Related Articles on MiMedx:
MiMedx to Feature Two Spinal Surgery Products
MiMedx Group Acquires Surgical Biologics
MiMedx Receives FDA Clearance for HydroFix Vaso Shield
Parker H. Petit, chairman and CEO of MiMedx, attributed its increased revenue from sales of its new amniotic membrane biomaterial platform, which the company acquired through its purchase of Surgical Biologics earlier this year, according to the news release.
The company also reported a net loss of $3.35 million, indicating a 6 percent greater loss compared to Q1 of last year due to costs related to the Surgical Biologics acquisition.
Read the company news release about MiMedx's first quarter financial results (pdf).
Related Articles on MiMedx:
MiMedx to Feature Two Spinal Surgery Products
MiMedx Group Acquires Surgical Biologics
MiMedx Receives FDA Clearance for HydroFix Vaso Shield