MiMedx Group, Inc., the leading biopharmaceutical company developing and marketing regenerative and therapeutic biologics utilizing human placental tissue allografts and patent-protected processes for multiple sectors of healthcare, announced the decision of its Board of Directors to authorize a $10 million increase in the Company's Share Repurchase Program.

This action by the MiMedx Board of Directors authorizing the additional $10 million to the Company's Share Repurchase Program brings the total authorized to $110 million since the Share Repurchase Program commenced in May 2014. The Company reported that in light of the short seller attacks and its strong balance sheet and cash flows, the MiMedx Board of Directors believes the stock repurchases continue to be an extremely positive investment for MiMedx.  The Board also agreed to review this program again at its scheduled meeting on October 26, 2017, and to consider an additional commitment at that time.

Parker H. "Pete" Petit, Chairman and CEO, stated, "To date, we have utilized virtually all of the $100 million previously authorized by the Board. This program has been particularly beneficial for the Company, as we have acquired shares at very low prices for a company with our level of sustained growth, biopharma strategy, outstanding clinical trials, the consistent pattern of physician and payer reception in the market place and our robust pipeline of future products. The recent deceptive and contrived attacks on our stock have caused the MiMedx shares to become very undervalued in my opinion. I believe it is a very prudent use of our capital to acquire our shares at this point, and our high growth profile in both revenues and profits should produce an extremely anti-dilutive result from our stock repurchases."

"We share the frustration from the short selling activity with all of our shareholders, and we are aggressively pursuing avenues that will expose these illegal activities," concluded Petit.