Vericel Corporation (NASDAQ:VCEL) Q1 2023 Earnings Conference Call May 10, 2023 8:30 AM ET

Company Participants

Eric Burns - Vice President, Finance and Investor Relations

Nick Colangelo - President and CEO

Joe Mara - Chief Financial Officer

Conference Call Participants

Ryan Zimmerman - BTIG

Sam Brodovsky - Truist Securities

Jeffrey Cohen - Ladenburg Thalmann

George Sellers - Stephens

Sean Lee - H.C. Wainwright

Operator

Ladies and gentlemen, thank you for standing by. Welcome to Vericel’s First Quarter 2023 Conference Call. At this time, all participants are in a listen-only mode. I would also like remind you that this call is being recorded for replay.

I would now like to turn the conference call over to Eric Burns, Vericel’s Vice President of Finance and Investor Relations.

Eric Burns

Thank you, Operator, and good morning everyone. Welcome to Vericel’s first quarter 2023 conference call to discuss our financial results and business highlights.

Before we begin, let me remind you on today’s call, we will be making forward-looking statements covered under the Private Securities Litigation Reform Act of 1995. These statements may involve risks and uncertainties that could cause actual results to differ materially from expectations and are described more fully in our filings with the SEC, which are available on our website.

In addition, all forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. Please note that a copy of our first quarter financial results press release is available in the Investor Relations section of our website. We also have a short presentation with highlights from today’s call that can be viewed directly on the webcast or accessed on our website.

I am joined on this call by Vericel’s President and Chief Executive Officer, Nick Colangelo; and our Chief Financial Officer, Joe Mara.

I will now turn the call over to Nick.

Nick Colangelo

Thank you, Eric, and good morning, everyone. I will begin today’s call by discussing our financial and business highlights for the first quarter, as well as our expectations for the remainder of the year. Joe will then provide a more detailed review of our first quarter financial performance and our updated guidance for 2023 before opening the call to Q&A.

We entered 2023 with a great deal of momentum as we generated strong MACI growth in the second half of last year and achieve significant regulatory milestones, including an accelerated regulatory pathway for the arthroscopic MACI program and the FDA approval of NexoBrid.