MiMedx Group Plans $10 Mln Share Buyback; Stock Gains 3% Pre-Bell

MiMedx Group, Inc. (MDXG) shares are up almost 3% pre-bell after the manufacturer of regenerative biomaterials and bioimplants processed from human amniotic membrane, said directors have approved a $10 million share buyback. 

The program runs through to December 2014. 

“The announcement of the stock repurchase program reflects the Board’s and management’s confidence in the long-term growth prospects of the company’s business and favorable outlook for earnings and cash flows,” said Parker H. Petit, Chairman and CEO. 

The shares recently traded at $5.57 with a 52-week range of $1.81 – $8.80.