MiMedx Board Approves Additional Funds for Share Repurchase Program

On October 9, MiMedx Group, Inc. (MDMX) announced that its Board of Directors approved another $10 million expenditure for its Share Repurchase Program. Since May 2014, the board has approved $110 million to be used for share repurchases. MiMedx is a leading biopharmaceutical company specializing in regenerative and therapeutic biologics that utilize human placental tissue.

 

Sonal detected the news and issued an alert at 7:47 am. The next trade was at $12.33 during pre-market trading hours. The stock later opened for regular market trading at $12.13.

The stock price pulled back a little in the first few hours of trading, but the gains continued for the next few trading days. Five days after the alert, MDMX closed at $13.20. That marks a gain of almost 10% from the market open on the day of the event.

 

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