VCEL Stock — Vericel Corporation: Cash, EV, Pipeline

Share price

$40.02

Market cap

$2,049.3M

Cash

$162.5M

Enterprise value

$1,886.8M

Balance sheet

Cash	$162.5M
Debt	$0.0M
Net cash	$162.5M
Enterprise value	$1,886.8M
Basic shares	51.2M shares
Fully diluted shares	57.9M shares
Fully diluted market cap	$2,316.5M
Cash per share	$3.17

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Mar 15 - Apr 26	MACI	Phase 3	Chondral Defect; Osteochondritis Dissecans (OCD); Articular Cartilage Defect	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

MACI

Approved · Active Modality: autologous cell therapy

Aliases MACI Arthro

Indications

Repair of symptomatic, single or multiple full-thickness cartilage defects of the knee in adults (Approved)
Osteochondral lesion of the talus (ankle cartilage defects) (Stage not disclosed)

Catalysts

— 2027

Status note FDA-approved 2016. sBLA approved August 2024 adding arthroscopic delivery (MACI Arthro). EU license suspended. MASCOT trial evaluating MACI for osteochondral lesion of the talus underway. Pursuing MHRA approval in the UK with anticipated commercialization in 2027.

Epicel

Approved · Active Modality: autologous cell therapy

Aliases cultured epidermal autograft

Indications

Deep dermal or full-thickness burns, including large total surface area burns (adult and pediatric) (Approved)

Status note FDA-approved (HDE 2007; now regulated by CBER) cultured epidermal autograft for large total surface area burns in adult and pediatric patients.

NexoBrid

Approved · Active Modality: botanical protein biologic (topical)

Aliases anacaulase-bcdb

Partnerships MediWound Ltd. (exclusive North American license and supply, May 2019; tiered mid-high single-digit to mid-teen royalties; up to $125M in sales milestones); BARDA agreement (effective April 1, 2026, valued up to $196.9M) covering NexoBrid procurement, VMI, next-generation room-temperature-stable formulation development, and blast trauma indication development

Indications

Eschar removal in adult and pediatric patients with deep partial-thickness and/or full-thickness thermal burns (Approved)
Blast trauma indication (under development) (Stage not disclosed)

Status note BLA approved December 2022; sBLA expanding to pediatric patients approved August 2024. Orphan biologic in the U.S., EU and other markets. Approved in the EU and other international markets.

Per-asset detail extracted from the 10-Q filed 2026-07-30. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	MACI
Lead indication	Chondral Defect
Lead phase	Phase 3
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT03588975	Phase 3	Recruiting	Sponsor	VCEL	—	Chondral Defect; Osteochondritis Dissecans (OCD); Articular Cartilage Defect	—
NCT06915233	Phase 3	Recruiting	Sponsor	VCEL	—	Chondral Defect; Articular Cartilage Defect	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for Vericel Corporation on ClinicalTrials.gov

No specialist-fund holders in 13F data for this company.

VCEL — Vericel Corporation

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials