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Axogen

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anonymous said:
What are the specific sales figures for the Avance? What is the $ volume per rep for just the Avance?
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Tough to calculate bc they have 20 distributors along with 51 direct reps. Generally speaking...Avance sales make up approx. 65% of total revenue. Let's say direct reps were responsible for $33mil in sales out of the $41mil in total sales for 2016. Looking at the $33mil sales breakdown...$19mil is Avance sales and $14mil is Axoguard sales. $19mil/51 direct reps= $372k Avance sales/rep and $274k/Axoguard sales/rep. In conclusion, direct reps average about $650k in total sales. Key expenses that are causing Axogen to lose money are prof education courses, high rep turnover, shipping expenses (avance has to ship on dry ice in heavy coolers) and high officer pay.
 












So that number covers tubes and grafts?

Total Market includes spine stimulators/ injections / pain management / surgical repairs?

Still don't understand the current sales as they relate to nerve tissue sales per rep.
 




anonymous said:
So that number covers tubes and grafts? Yes...The nerve market that Axogen is in includes implants sold as tubes/grafts to bridge a nerve gap and wraps used to help with adhesion

Total Market includes spine stimulators/ injections / pain management / surgical repairs? See above

Still don't understand the current sales as they relate to nerve tissue sales per rep. The person above detailed it quite well...Each direct rep avg's approx $375k/yr in nerve graft sales and $275k/yr in nerve tubes/wrap sales.
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Polyganics’ portfolio includes products developed in-house and in collaboration with leading medical technology companies and academic centers of excellence. In the Peripheral Nerve Repair (PNR) and neurosurgery field, the portfolio includes three marketed products: VIVOSORB® for minimizing unwanted tissue adhesions after surgery; NEUROLAC® for supporting PNR following surgery of the extremities; and NEUROCAP® for the management of symptomatic neuromas. Products in development include a sealant for the dural membrane, for use post brain surgery.
 




















Can anyone give me updates on the current health of Axogen? I know they are splitting territories, the 2 ppl I have known that have worked there had questionable integrity and I hear from an internal source that indeed the reps are making 200-300k.
I am a previous Integra rep and I have a good job but would like to go back to the extremity space.
No company is perfect - I would like to be able to put my head down and go to work this making over 200k.
What are your thoughts?
 




The current culture around AxoGen is back to being not high for us as reps. They just cut our commissions again this year and now we're making even less than we did last year. The average rep now is lucky to make 170 whereas I made 205 last year in a large city. SM gave us the usual line about cutting comp plans is something we all have to do for the betterment of the company yet his salary has increased every year. We received new codes for the nerve grafts but the codes are not even close to what the facility gets charged. On top of the cut to commissions there also was a substantial price increase on all products. This means in 2018 hospitals are paying more and with the new code are getting reimbursed less. Most people are not hitting their quota and everyone from managers to reps are starting to really feel the heat. There is definitely a sense of panic and worry across the sales force to the point where SM is personally calling reps begging for them to sell something so we don't miss our qtr. Theres also has been a swing on the Board with JG stepping down and KZ moving in. This move has a lot of people alarmed and worried about the stability of the company and what the future may hold. All in all its not a great time to be a rep/mngr at AxoGen with many beginning to look elsewhere for their future. Someone also asked about exec pay which I've added below. As you can see reps comp goes down and exec comp continues to grow. This doesn't even reflect the millions in overall awarded stocks for executives.

Name 2016 2017 2018 2017 Bonus 2017 Stocks Awarded Current Value @ $45 a share
KZ 405 462 575 330,688 75,000 3.375M
SM 200 206 213 224,068 9,000 405,000
GF 180 189 260 83,160 22,100 994,500
PM 320 336 362 147,840 45,000 2.02M
JG N/A 142 325 64,807 64,807 2.916M
 







KZ (2016) 405 (2017) 462 (2018) 575 (Bonus$) 330,688 (shares awarded) 75,000 (worth @ current market price of $45) 3.375M
SM (2016) 200 (2017) 206 (2018) 213 (Bonus$) 224,068 (shares awarded) 9,000 (worth @ current market price of $45) 405,000
GF (2016) 180 (2017) 189 (2018) 260 (Bonus$) 83,160 (shares awarded) 22,100 (worth @ current market price of $45) 994,500
PM (2016) 320 (2017) 336 (2018)362 (Bonus$)147,840 (shares awarded) 45,000 (worth @ current market price of $45) 2.02M
JG (2016) N/A (2017) 142 (2018)325 (Bonus$) 64,807 (shares awarded) 64,807 (worth @ current market price of $45) 2.916M
 




Something is going on at the executive level...

SM dumps 10,000 shares last month (5/16/18)
JG has dumped roughly 425,000 shares over the last couple of months as well as stepped down from the Board
A VP recently had an altercation with KZ about letting them do their job that didn't go over well.
Lots of leadership exercising option over the last couple of months.
Sales are lower than ever before when looking at percentages mostly due to poor rep hiring, large quotas, low/no reimbursement and steady increase in product costs.
 




JG is a good cat. SM is FOS and a POS. KZ is FOS. The fat dude with the bow ties and serious personality issues is a POS. The dirt bags running that sxxx hole fxxx their own mother for a dollar. Sorry for the reps, but glad to see that rat ship go down. Top heavy greed fxxks.
 








New product for pain coming out 01/2019 with current data collections very favorable. The breast market is taking off for reinnervation and will be huge moving forward with a website just launched resensation.com. This qtr numbers so far are really good, its a good time to be here. New reps and independents finally beginning to carry their weight.
 




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