Credit Suisse analyst Matt Miksic reinstated coverage of Organogenesis (ORGO) with an Outperform rating and lowered his price target for the shares to $9 from $10. The company remains "very attractively valued," trading at a 50%-60% discount to other regen peers like Vericel (VCEL), AxoGen (AXGN) and MediWound (MDWD), Miksic tells investors in a research note. The analyst sees Organogenesis gaining share in the "high-value, high-growth" amniotic tissue segment of advanced wound care.

BTIG notes that seven Medicare Administrative Contractors, or MACs - CGS, WPS, NGS, Palmetto, Novitas, First Coast, and Noridian - this morning published new proposed local coverage determinations, or LCDs, regarding the coverage of skin substitutes grafts and cellular and tissue based products for the treatment of diabetic foot ulcers, or DFUs, and venous leg ulcers, or VLUs. This marks "the second attempt in the past 12 months where MACs have proposed an LCD that would drastically shake up the advanced wound care market," says the analyst, who highlights that the proposed LCD includes non-coverage products from Integra Lifesciences (IART), Organogenesis (ORGO), Smith & Nephew (SNN), MiMedx (MDXG), Anika Therapeutics (ANIK) and numerous smaller, private wound care companies. The firm adds that it thinks Integra and Organogenesis both have meaningful exposure to the LCDs based on their product portfolio and the revenue mix within their Advanced Wound Care businesses.

MediWound announced that recent clinical data from EscharEx Phase II studies will be presented throughout May 2024 at the largest, most prestigious annual meetings in the field of chronic wound care: the European Wound Management Association, the Wound Healing Society, and the Symposium on Advanced Wound Care. The oral presentations on EscharEx will include: Comparative data of EscharEx vs. SANTYL that demonstrate EscharEx's superiority over the current leading enzymatic debridement agent; New analyses from the ChronEx phase II study, showing high correlation between wound bed preparation and wound healing; These data indicate that EscharEx could substantially improve wound care for patients with debilitating chronic wounds, providing significant benefits over the current standard of care. Additionally, the findings support the design and endpoints of the upcoming Phase III study, which is expected to begin in the second half of 2024. "We are delighted to present the results of additional analyses from EscharEx Phase II studies in chronic hard-to-heal wounds, including the positive comparative data with SANTYL(R), the current dominant standard of care for enzymatic debridement," said Dr. Robert J. Snyder, Chief Medical Officer of MediWound. "With its robust efficacy, favorable safety profile, and multimodal mechanistic effects demonstrated in these Phase II studies, we believe that EscharEx can significantly advance wound care and has the potential to become a major player in the global wound care market."