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Total net revenues of $32.3 million, compared to $30.5 million in the third quarter of 2019; MACI® net revenue of $24.4 million, Epicel® net revenue of $6.7 million and NexoBrid® revenue of $1.2 million related to the U.S. Biomedical Advanced Research and Development Authority (BARDA) procurement for national response preparedness; Gross margin of 70%, compared to gross margin of 69% in the third quarter of 2019; Net income of $3.6 million, or $0.08 per share, compared to $3.5 million, or $0.07 per share, in the third quarter of 2019;
Non-GAAP adjusted EBITDA of $6.7 million, compared to $6.8 million in the third quarter of 2019; Operating cash flow of $4.6 million; and Cash and investments of $85.5 million as of September 30, 2020, compared to $79.0 million as of December 31, 2019, and no debt. Business Highlights and Updates
Reported record third quarter MACI revenue and total revenues, and the second highest quarterly Epicel revenue in history; Achieved double-digit growth in MACI revenue, implants and biopsies in the third quarter, including a record monthly high for biopsies in September; Announced the first delivery of NexoBrid to BARDA for emergency response preparedness; and Announced that the FDA accepted for review the Biologics License Application for NexoBrid for the treatment of severe thermal burns, with a PDUFA goal date of June 29, 2021.
Second Quarter 2021 Financial Highlights ?Total net revenue of $39.5 million, an increase of 97% compared to the second quarter of 2020 and 51% compared to the second quarter of 2019 ?MACI® net revenue of $26.5 million, Epicel® net revenue of $12.2 million, and NexoBrid® revenue of $0.8 million related to the U.S. Biomedical Advanced Research and Development Authority (BARDA) procurement for emergency response preparedness ?Gross margin of 68%, compared to 57% in the second quarter of 2020 ?Net loss of $3.8 million, or $0.08 per share, compared to $8.3 million, or $0.18 per share, in the second quarter of 2020 ?Non-GAAP adjusted EBITDA of $7.8 million, or 20% of net revenue, compared to adjusted EBITDA loss of $3.5 million in the second quarter of 2020 ?Operating cash flow of $4.8 million ?As of June 30, 2021, the Company had $116 million in cash and investments, compared to $100 million as of December 31, 2020, and no debt
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