Axogen is a medical technology company focused entirely on peripheral nerve repair. Its flagship product, Avance Nerve Graft, is a processed human nerve allograft that bridges gaps in severed peripheral nerves by providing a natural scaffold to guide nerve fiber regeneration. Avance represents roughly 60% of revenue and, as of December 2025, became the first FDA-approved biologic for peripheral nerve repair, carrying 12 years of biosimilar exclusivity. The rest of the portfolio — Axoguard Nerve Connector, Nerve Protector, and Nerve Cap, plus Avive+ Soft Tissue Matrix — complements Avance across the full nerve repair procedure, and surgeons typically use multiple products per case, which drives higher revenue per procedure. Axogen targets four clinical markets: extremities (the largest), oral maxillofacial and head & neck, breast reconstruction neurotization (restoring sensation after mastectomy), and urology (early-stage). Axogen sells almost entirely in the U.S. through a direct sales force of roughly 138 reps. Revenue growth is driven by volume (more surgeons, more accounts), modest annual price increases, and richer product mix per case. The commercial model centers on surgeon education — Axogen runs proprietary training programs to establish nerve repair as a standard of care and build recurring procedure volumes within target accounts. Gross margins run around 74%, reflecting the biological nature of the products and the processing, sterilization, and cold-chain requirements. Axogen's 2025–2028 strategic plan targets 15%–20% revenue CAGR, funded from operating cash flow, with key drivers including sales force expansion, payer coverage conversion, and leveraging the BLA approval to remove the "experimental" label from insurer reviews.