Organogenesis Holdings slumps after withdrawing 2023 guidance

Organogenesis Holdings

10/08/2023 12:50

** Shares of Organogenesis Holdings Inc  ORGO.O  fall ~34%
to $2.24 before the bell
    ** ORGO late on Wednesday withdrew its previously announced
2023 guidance due to the uncertainty from the potential impact
of the recently published local coverage determinations on some
of its devices
    ** Q2 adj net income nearly halved Y/Y after sales fell 3.4%
 
    ** Brokerage firm BTIG cuts PT to $4 from $10 
    ** Up to Wednesday's close, stock had risen ~26% this year 

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))