Vericel Corp VCEL Shares traded up 13.63% at $27.10 on Tuesday after the company reported preliminary revenue results for fiscal 22.

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Vericel sees preliminary FY22 revenue of between $164 million and $165 million, versus analyst consensus estimate of $164.62 million.

Among highlights shared by Vericel in its fourth quarter preliminary unaudited financial results, the company expects its tenth consecutive quarter of positive adjusted EBITDA and positive operating cash flow.

Additionally, as of December 31, 2022, the Company had approximately $140 million in cash and investments and no debt.

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“We have made tremendous progress advancing our pipeline and expanding our business into 2022, underscored by an accelerated regulatory path for the MACI arthroscopic delivery program and the recent approval of NexoBrid,” he said Nick ColangeloPresident and CEO of Vericel.

“We also had very strong MACI performance to close out the year and we look forward to building on that momentum in 2023 across our two franchises as we anticipate accelerated overall revenue growth this year and further acceleration in 2024 , fueled by a full year of NexoBrid in the market and the planned launch of the arthroscopic MACI.”

According to data from Gasoline ProVericel has a 52-week high of $43.97 and a 52-week low of $17.30.