Michael D. Dale, Chief Executive Officer of Axogen (AXGN 0.42%), executed an open-market sale of 25,000 directly held shares on Dec. 10, 2025, with a reported transaction value of $750,000 according to the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 25,000 |
| Transaction value | $750,000 |
| Post-transaction shares (direct) | 63,537 |
| Post-transaction value (direct ownership) | $1.91 million |
Transaction and post-transaction value based on SEC Form 4 reported price ($30.00).
Key questions
- How does the size of this transaction compare to Michael D. Dale’s recent selling activity?
The 25,000-share sale is smaller than the disposition of 61,463 shares the day before, and below the recent median insider sale size of 43,231 shares. - Were there any indirect holdings or options exercised as part of this transaction?
No indirect holdings, option exercises, or derivative-related share movements were disclosed; all shares sold were held directly and transacted in the open market.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $1.43 billion |
| Revenue (TTM) | $214.71 million |
| Net Loss (TTM) | -$2.10 million |
| 1-year price change (as of Jan. 13, 2026) | 71.36% |
Company snapshot
- Axogen is a healthcare company specializing in surgical solutions for peripheral nerve injuries, leveraging biologic and medical device technologies. The company’s portfolio focuses on nerve repair and protection.
- It develops and markets biologically active nerve grafts, nerve connectors, nerve protectors, nerve caps, and soft tissue membranes for the surgical repair and protection of peripheral nerves.
- The company serves plastic reconstructive, orthopedic, hand, oral, and maxillofacial surgeons, as well as military and international healthcare providers.
NASDAQ: AXGN
Key Data Points
What this transaction means for investors
Along with Dale, there was a strong amount of insider activity from other executives later on in December. But while it's not certain why there were other insider sales to close 2025, it's certain that the company's stock performed well that year. AXGN climbed 97.60% in 2025, having seven consecutive months of price gains.
One of Axogen's biggest achievements was on Dec. 3, 2025, when the FDA approved its unique nerve graft, a human tissue-based product designed to repair damaged peripheral nerves without requiring nerve tissue from the patients themselves. The healthcare company is expected to have 12 years of market exclusivity of the product, which will make it substantially stand out from competitors.
Confident in its operational success, the company estimates that when it reports its FY 2025 results in late February, it will have approximately gained $225.2 million in annual revenue, marking its highest ever. With its dominance in the nerve repair market and strong stock performance, Axogen looks well-positioned for a strong year in 2026.
Glossary
Open-market sale: When shares are sold directly on a public stock exchange, rather than through a private transaction.
Direct holdings: Shares owned personally by an individual, not through trusts, funds, or other entities.
Indirect holdings: Shares owned through another entity, such as a trust or family member, rather than held personally.
Derivative transactions: Trades involving financial contracts whose value is based on underlying assets, such as options or futures.
Insider sale: When a company executive, director, or major shareholder sells shares of their own company.
SEC Form 4: A regulatory filing that insiders must submit to report buying or selling their company’s stock.
Disposition: The act of selling or otherwise transferring ownership of an asset, such as shares.
Shares outstanding: The total number of a company’s shares currently held by all shareholders.
Proprietary: Refers to products or technologies owned and controlled by a specific company.
Peripheral nerves: Nerves outside the brain and spinal cord, responsible for transmitting signals throughout the body.
Biologically active nerve grafts: Medical implants designed to repair damaged nerves by supporting natural healing processes.
TTM: The 12-month period ending with the most recent quarterly report.
