During the first quarter, the company launched its AmnioFix Injectable nationwide, which is an allograft composed of micronized amniotic tissues for reducing inflammation and enhancing soft tissue healing of micro-tears in tendon tissue. The company also received a positive preliminary decision for the Q-code from CMS for its EpiFix allograft.
By the end of the first quarter, the company reported $3 million in cash, a decrease from the end of the fourth quarter of 2011. The decrease was driven by increases in working capital in support of revenue growth, including accounts receivable, inventory and prepaid expenses.
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