Celularity Receives Healthcare Common Procedure Coding System Q Code Approval From The U.S. Centers For Medicare & Medicaid Services For Biovance 3L
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Celularity Inc. (NASDAQ:CELU) announced that its product Biovance 3L received a Healthcare Common Procedure Coding System (HCPCS) Q code approval from the U.S. Centers for Medicare & Medicaid Services (CMS), effective April 1, 2024. Biovance 3L is a tri-layer allograft derived from placental tissue for wound treatment. This approval is expected to drive growth and impact Celularity's performance positively.
March 26, 2024 | 1:02 pm
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Celularity Inc.'s Biovance 3L received HCPCS Q code approval from CMS, marking a significant regulatory milestone that could enhance the product's adoption and drive revenue growth.
The HCPCS Q code approval is a critical regulatory milestone that typically leads to increased product adoption and reimbursement opportunities. For Celularity, this approval for Biovance 3L is likely to enhance its market penetration in the wound treatment sector, potentially leading to increased sales and positive impact on the company's financial performance in the short term.
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