AxoGen (AXGN) Misses Q4 EPS by 4c

AxoGen (NASDAQ: AXGN) reported Q4 EPS of ($0.09), $0.04 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $23.4 million versus the consensus estimate of $23.79 million.

“We continue to see momentum in our core trauma, oral and maxillofacial, and breast reconstruction neurotization markets,” said Karen Zaderej, chairman, chief executive officer, and president of Axogen. “Looking ahead, we believe the investments made in 2018, including our strengthened and expanded commercial capabilities, will allow us to drive sharper and more consistent execution. I am confident in our ability to deliver another successful year as we continue to grow our core markets and develop expansion markets.”

Regarding the RECON study, as required by the statistical analysis plan and agreed to by the FDA and Axogen, a blinded independent statistical analysis was conducted to determine if greater study enrollment is appropriate. The interim analysis looks only at the pooled standard deviation of the first 80 enrolled subjects and does not include an interim look at outcomes. Axogen is working with the FDA to review the interim analysis findings and obtain agreement on the next phase of the study.

For earnings history and earnings-related data on AxoGen (AXGN) click here.

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