Miromatrix Medical Inc. (MIRO) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

Miromatrix Medical Inc.

CIK: 1527096 Ticker: MIRO

Exhibit 99.1

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Miromatrix Reports Fourth Quarter and Full Year 2021 Results and Provides Corporate Update

EDEN PRAIRIE, Minn., Mar. 30, 2022 - Miromatrix Medical Inc. (NASDAQ: MIRO), a life sciences company pioneering a novel technology for bioengineering fully transplantable organs

to help save and improve patients’ lives, today reported fourth quarter and full year 2021 financial results and provided a corporate update.

"The need for organ transplants is greater than ever and Miromatrix is proud to be one of a small group of companies at the forefront of developing alternatives to human donor organ transplants," said Jeff Ross, Ph.D., Miromatrix CEO. "We continue to believe our bioengineered organ technology platform is the most differentiated technology in the category, which I will expand upon during our conference call. We accomplished several key milestones in 2021 and are very excited about accomplishing more key milestones in 2022 and beyond."

Business Highlights

Ended 2021 with $52.8 million of cash following IPO in June; believe cash is sufficient to last through 2023 and enable achievement of key milestones
Completed build-out of world-class in-house manufacturing capabilities at new headquarters to control development timelines and production quality through clinical trials
In collaboration with Mayo Clinic, announced first successful transplant of a bioengineered whole organ in a large animal model which further validates proof of concept for MiroliverTM and MiroliverELAPTM as they advance towards human clinical trials
Received FDA response to MiroliverELAP pre-IND submission; anticipate filing IND application in the second half of 2022 and initiating a phase 1 clinical trial shortly after the IND is cleared by the FDA
Incorporating learnings from MiroliverELAP into development plans for Miroliver, our fully implantable bioengineered liver intended to treat acute and chronic liver failure
Progressing development of MirokidneyTM, our fully implantable bioengineered kidney intended to treat patients with end stage renal disease
Hired new CFO with significant life sciences experience to join existing finance team as Miromatrix progresses towards human clinical trials

The following information was filed by Miromatrix Medical Inc. (MIRO) on Wednesday, March 30, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Miromatrix Medical Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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Inside Miromatrix Medical Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Balance Sheets
Condensed Balance Sheets (Parenthetical)
Condensed Statements Of Cash Flows
Condensed Statements Of Operations
Condensed Statements Of Shareholders' Equity (Deficit)
Accrued Expenses
Accrued Expenses (Details)
Accrued Expenses (Tables)
Capital Stock
Capital Stock (Tables)
Capital Stock - Common Stock (Details)
Capital Stock - Employee Stock Purchase Plan (Details)
Capital Stock - Equity Incentive Plans (Details)
Capital Stock - Preferred Stock (Details)
Capital Stock - Restricted Stock Units (Details)
Capital Stock - Stock Options (Details)
Capital Stock - Stock Warrants (Details)
Commitments And Contingencies
Commitments And Contingencies - Patent License Agreement (Details)
Debt (Tables)
Debt - Agreements (Details)
Debt - Debt Maturities (Details)
Description Of Business And Significant Accounting Policies
Description Of Business And Significant Accounting Policies (Policies)
Description Of Business And Significant Accounting Policies - Recent Accounting Pronouncements (Details)
Equity Method Investment
Equity Method Investment (Tables)
Equity Method Investment - Income Statement (Details)
Equity Method Investment - Reprise (Details)
Fair Value Measurement
Leases (Tables)
Leases - Additional Information (Details)
Leases - Agreements (Details)
Leases - Balance Sheet Information (Details)
Leases - Lease Costs (Details)
Leases - Lease Payments (Details)
Leases - Prior To Adoption Of Asu - Capital Leases (Details)
Leases - Prior To Adoption Of Asu - Operating Leases (Details)
Net Loss Per Share
Net Loss Per Share (Details)
Net Loss Per Share (Tables)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Related Party Transactions
Related Party Transactions (Details)
Significant Customers
Significant Customers (Details)
Ticker: MIRO
CIK: 1527096
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-22-008945
Submitted to the SEC: Mon May 16 2022 4:05:47 PM EST
Accepted by the SEC: Mon May 16 2022
Period: Thursday, March 31, 2022
Industry: Biological Products No Disgnostic Substances

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