What's Going On With Vericel Shares Trading Higher

Vericel Corp VCEL shares are trading higher by 13.63% to $27.10 Tuesday after the company reported preliminary FY22 revenue results.

What Else?

Vericel sees preliminary FY22 revenue in the range of $164M-$165M, versus the $164.62M analyst consensus estimate.

Among the highlights shared by Vericel in preliminary, unaudited fourth-quarter financial results the company expects a tenth straight quarter with positive adjusted EBITDA and Operating Cash Flow.

Additionally, as of December 31, 2022, the company had approximately $140 million in cash and investments and no debt.

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"We made tremendous progress advancing our pipeline and expanding our business in 2022, highlighted by an accelerated regulatory pathway for the MACI arthroscopic delivery program and the recent approval of NexoBrid," said Nick Colangelo, President and CEO of Vericel.

"We also had very strong MACI performance to close the year and we look forward to building on this momentum in 2023 across both of our franchises, as we expect accelerating total revenue growth this year and further acceleration in 2024 driven by a full year of NexoBrid on the market and the planned launch of arthroscopic MACI."  

According to data from Benzinga Pro, Vericel has a 52-week high of $43.97 and a 52-week low of $17.30.