VCEL (Vericel Corporation) stock: $54.62, $2.80B market cap, $235.6M cash, $2.56B EV, $3.05B fully diluted market cap. Next expected readout: Feb-30. Lead program: MACI (Chondral Defect), Phase 3. Data from Fully Diluted's biotech stocks database.
What they do
We have a highly differentiated portfolio of cell therapy and specialty biologic products that combines innovations in biology with medical technologies. We were among the first companies to achieve commercial success in the complex field of cell therapies with treatments that use tissue engineering to regenerate skin and healthy knee cartilage.
Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
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.
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 · ActiveModality: 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.
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.