AxoGen revenues up 59% in 2012

One of Progress Corporate Park's tenants is experiencing steady revenue growth. AxoGen, an Alachua-based biotechnology company, reported a 59% increase in revenues in 2012. We're excited to watch AxoGen continue to grow. 

From The Gainesville Sun – Staff Report

AxoGen reported revenues of $7.69 million in 2012, a 59 percent increase over the $4.85 million in revenues for 2011 as more surgeons and hospitals used the company's peripheral nerve repair products.

The Alachua-based company reported a net loss of $9.42 million for the year, or negative $0.85 per common share, compared to a loss of $10.25 million in 2011, or negative $2.77 per share.

AxoGen makes peripheral nerve repair products from human-donated tissue and trades on the Over the Counter Bulletin Board under the symbol AXGN. Investors cannot trade OTC stocks directly but must contact a broker that deals in OTC securities.

Sales and marketing expenses increased 57 percent for the year to $6.88 million, general and administrative expenses increased 21 percent to $5.22 million, and research and development expenses increased 105 percent to $1.43 million.

CEO Karen Zaderej said in a news release that the company's strategy is to provide education and clinical evidence to surgeons.

During the year, AxoGen completed $20.8 million in financing with PDL BioPharma, which Zaderej said strengthened their balance sheet and provided funds to train the sales team, increase marketing and hire more sales associates.

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Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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