MiMedx Responds to Bloomberg Article
As the Company announced last week, the Audit Committee of the Company's Board of Directors and its independent advisers are investigating certain sales and distribution activities, which it expects will be completed in as timely a manner as possible. The Company is confident this course of action is in the best long-term interests of the company and its shareholders.
The public should be well aware that the Company has been under a concerted, illegal short selling attack since September. This group of illegal short sellers, which the Company believes includes
The Company has made numerous public disclosures about illegal short selling and the lack of reliability of these allegations because of the individuals involved.
The situation is complicated by the fact that the Company has terminated certain employees for cause over the last 15 months. The Company believes certain of these employees are retaliating by acting in concert with this group of short sellers to distort information and negatively impact the Company's stock price.
In response to a specific allegation in a recent
Importantly, management believes the recent activity of and accusations by the short sellers should not affect the Company's operational performance and clinical research activities.
Fortune Magazine recognized
MiMedx® is the leading biopharmaceutical company developing and marketing regenerative and therapeutic biologics utilizing human placental tissue allografts with patent-protected processes for multiple sectors of healthcare. "Innovations in Regenerative Medicine" is the framework behind the Company's mission to give physicians products and tissues to help the body heal itself. The Company processes the human placental tissue utilizing its proprietary PURION® Process methodology, among other processes, to produce safe and effective allografts by employing aseptic processing techniques in addition to terminal sterilization.
Safe Harbor Statement
This press release includes forward-looking statements that may be identified by words such as "believe," "expect," "may," "plan," "potential," "will," "preliminary," and similar expressions, and are based on management's current beliefs and expectations. Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ from those set forth in the forward-looking statements. For more detailed information on the risks and uncertainties, please review the Risk Factors section of the Company's most recent annual report or quarterly report filed with the
Robert P. Borchert, Vice President, Investor Relations, 770-651-9383, email@example.com