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TransMedics Shares Drop After Short Report From Scorpion Capital

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TransMedics Shares Drop After Short Report From Scorpion Capital

Jan 10, 2025 7:46 AM

10:12 AM EST, 01/10/2025 (MT Newswires) -- TransMedics Group ( TMDX ) shares were down almost 15% in recent Friday trading following a short seller report by Scorpion Capital, which called the company an "organ trafficking scheme masquerading as a medical device company."

Scorpion Capital said in its report that the scheme is powered by "kickbacks, billing fraud, unreported device failures, and off-label misuse on a vast scale."

Scorpion Capital said it will file a citizen's petition with the Food and Drug Administration to request a suspension for premarket approval of the company's organ care system, which Scorpion Capital described as a device to transport, preserve and assess organs for transplant.

TransMedics ( TMDX ) didn't immediately respond to a request for comment from MT Newswires.

Price: 61.79, Change: -10.77, Percent Change: -14.84

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