VERICEL CORP

Ticker: VCEL CUSIP: 92346J108 Class: Common Stock

Stonepine Capital Management, LLC's Holding History (CIK: 0001440771)

Note: Option positions (PUT/CALL) are excluded.

Q3 2017

Shares 975,711 Value ($000) $5,854 Avg Close $3.84 Range $3.00 - $6.30

Q2 2017

Shares 2,980,570 Value ($000) $9,836 Avg Close $2.74 Range $2.35 - $3.60

Q1 2017

Shares 3,265,323 Value ($000) $9,143 Avg Close $2.83 Range $2.25 - $3.25

Q4 2016

Shares 1,883,800 Value ($000) $5,651 Avg Close $2.57 Range $2.00 - $4.55

Q3 2016

Shares 1,023,048 Value ($000) $2,865 Avg Close $2.30 Range $2.07 - $3.13

Q2 2016

Shares 2,250,000 Value ($000) $5,063 Avg Close $2.88 Range $1.96 - $6.69

Q1 2016

Shares 1,417,939 Value ($000) $8,309 Avg Close $2.80 Range $1.76 - $6.35

Q4 2015

Shares 1,376,887 Value ($000) $3,552 Avg Close $2.24 Range $1.69 - $2.81

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2017	975,711	$5,854	$3.84	$3.00 - $6.30
Q2 2017	2,980,570	$9,836	$2.74	$2.35 - $3.60
Q1 2017	3,265,323	$9,143	$2.83	$2.25 - $3.25
Q4 2016	1,883,800	$5,651	$2.57	$2.00 - $4.55
Q3 2016	1,023,048	$2,865	$2.30	$2.07 - $3.13
Q2 2016	2,250,000	$5,063	$2.88	$1.96 - $6.69
Q1 2016	1,417,939	$8,309	$2.80	$1.76 - $6.35
Q4 2015	1,376,887	$3,552	$2.24	$1.69 - $2.81