Levi & Korsinsky notifies investors that it has commenced an investigation into MiMedx Group, Inc. (NASDAQ: MDXG) concerning potential violations of the federal securities laws.
On December 29, 2023, MiMedx issued a press release announcing that “[f]ollowing a routine inspection earlier in the year, the United States Food and Drug Administration (‘FDA’) took the position that one of the Company’s recently-launched placental-derived tissue products – AXIOFILL – does not meet the requirements as a Section 361 product and is therefore subject to enforcement as a Section 351 product. Specifically, FDA asserts that the production of AXIOFILL involves more than ‘minimal manipulation.’ The Company does not agree with FDA’s position and has been actively engaged with the agency through its ‘Request For Designation’ (‘RFD’) process. However, on December 21, 2023, MIMEDX received a Warning Letter from FDA reiterating the agency’s position on AXIOFILL.” On this news, MiMedx’s stock price fell 10.26%, to close at $7.87 per share on January 2, 2024.
If you suffered a loss on your MiMedx Group securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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