Prescience Point takes activist stake in MiMedx, sees ‘chronic undervaluing’

Prescience Point Capital Management disclosed a 7.9% stake in MiMedx Group, which represents over 8.7M shares. The filing with the SEC allows for activism. Prescience believes that the company’s management and board “have ineffectively communicated the value” of the Amniofix injectable product to the investment community. The firm believes this has resulted in the “chronic undervaluing” of MiMedx equity by the public markets. Prescience believes the value of the company’s pipeline of clinical trials for Amniofix “far exceeds” that of its advanced wound care business. Prescience Point intends to engage in discussions with management and the board “to bring about positive changes in the Issuer’s messaging to the investment community.” Shares of MiMedx are up 4% to $9.43 in midday trading.