Vericel Reports 2Q17 Orthobiologic Revenue

Vericel posted 2Q17 orthobiologic revenue of US $12.9MM, +43.4% vs. 2Q16, and 1H17 revenue of $17.9MM, +27.9% vs. 1H16.

Performance highlights:

• Last quarter that revenue will include both Carticel (autologous cultured chondrocytes) and MACI (autologous cultured chondrocytes on porcine collagen membrane); Carticel no longer commercially available
• Carticel represented 15% of 2Q orders
• Noted resolution of dispute between Vital Care (a contracted pharmacy service provider) and a payor, which resulted in recognition of additional $1.4MM in MACI revenue
• >350 surgeons trained on MACI since 1Q launch; 50% of trained surgeons are former Carticel users or never used Carticel
• Entered distribution agreement with Orsini Healthcare to support MACI patient access/case management
• Entered into a license agreement for Innovative Cellular Therapeutics to exclusively develop and distribute products in Asia
• Payor policies updated at 18 of top 28 commercial plans, representing ~1/2 of covered lives

Source: Vericel Corporation