Vericel Shares Gain 4%

Vericel shares were 4% higher Wednesday morning after the the company said that it has implanted its first patient in the U.S. with its MACI, a cellular scaffold product indicated to the repair of cartilage defects of the knee.

“Treating the first patient with MACI this soon following FDA approval is incredibly rewarding for everyone at Vericel,” said CEO Nick Colangelo. “We believe that the simplified MACI surgical technique, together with the MACI phase 3 clinical data demonstrating statistically significantly greater improvement in pain and function scores compared to microfracture, will drive significant growth for our cartilage repair franchise. We are now focused on realizing this growth potential by providing training to expand the number of implanting surgeons and working with payers to ensure reimbursement for MACI.”