MiMedx Group, Inc.
Company Name | MiMedx Group, Inc. |
Stock Symbol | MDXG |
On December 29, 2023, after the market closed, MiMedx disclosed that it had received a warning letter from the U.S. Food and Drug Administration stating that the Company’s placental-derived tissue product, Axiofill, does not meet the requirements as a Section 361 product and is therefore subject to enforcement as a Section 351 product.
On this news, MiMedx’s stock price fell $0.90, or 10.3%, to close at $7.87 per share on January 2, 2024, thereby injuring investors.
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