Vericel Corp: Preliminary Q3 revenue up 5%, shares rise

Vericel

14/10/2020 14:31

** U.S. biopharma co's shares  VCEL.O  up 6% at $22.26 in
premarket trade
    ** Co posts prelim Q3 rev of ~$32 mln, a ~5% jump from
year-ago period  urn:newsml:reuters.com:*:nGNXbKKDY6
    ** VCEL generated consistent double-digit growth in rev,
implants and biopsies for matrix-induced autologous chondrocyte
implantation (MACI) - CEO Nick Colangelo
    ** MACI is a procedure to repair symptomatic, single or
multiple full-thickness cartilage defects of the knee with or
without bone involvement in adults
    ** VCEL says it generated ~$4.6 mln of operating cash flow
in Q3
    ** Up to Tuesday's close, VCEL shares up 20.29% YTD

 (Reporting by Lasya Priya in Bengaluru)
 ((LasyaPriya.M@thomsonreuters.com))