Organogenesis: Jumps as Q4 prelim revenue beat estimates

Organogenesis Holdings

14/01/2021 10:39

** Regenerative medicine company's  ORGO.O  shares jump
43.6% to $10.54 premarket 
    ** Stock top pct gainer across U.S. exchanges premarket
    ** ORGO on Wednesday after market reported preliminary Q4
revenue in the range of $104.6 mln to $106.0 mln, beating
analysts' estimates of $80.8 mln, according to Refinitiv IBES
data  urn:newsml:reuters.com:*:nGNXbsdm9Y
    ** The beat driven by higher demand for PuraPly wound
management products; co expects PuraPly revenue of between $43.8
mln and $44.6 mln, up 10% to 12% y-o-y
    ** Expects 2020 net revenue of between $336.1 mln and $337.5
mln, up about 29% from a year earlier
    ** BTIG says expected PuraPly rev implies that the product
has not been as impacted by the loss of Medicare's pass-through
status which enables additional reimbursement, as the company
had estimated
    ** Raises PT to $14 from $10

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))