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        <filerInfo>
            <filer>
                <filerCredentials>
                    <cik>0001955281</cik>
                    <ccc>XXXXXXXX</ccc>
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            <liveTestFlag>LIVE</liveTestFlag>



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        <issuerInfo>
            <issuerCik>0000805928</issuerCik>
            <issuerName>AXOGEN INC.</issuerName>
            <secFileNumber>001-36046</secFileNumber>
            <issuerAddress>
                <ns2:street1>13631 Progress Blvd.</ns2:street1>
                <ns2:street2>Suite 400</ns2:street2>
                <ns2:city>Alachua</ns2:city>
                <ns2:stateOrCountry>FL</ns2:stateOrCountry>
                <ns2:zipCode>32615</ns2:zipCode>
            </issuerAddress>
            <issuerContactPhone>386-462-6800</issuerContactPhone>
            <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>JOSEPH A TYNDALL</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <relationshipsToIssuer>
                <relationshipToIssuer>Director</relationshipToIssuer>
            </relationshipsToIssuer>
        </issuerInfo>
        <securitiesInformation>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <brokerOrMarketmakerDetails>
                <name>Morgan Stanley Smith Barney LLC Executive Financial Services</name>
                <address>
                    <ns2:street1>1 New York Plaza</ns2:street1>
                    <ns2:street2>8th Floor</ns2:street2>
                    <ns2:city>New York</ns2:city>
                    <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                    <ns2:zipCode>10004</ns2:zipCode>
                </address>
            </brokerOrMarketmakerDetails>
            <noOfUnitsSold>26931</noOfUnitsSold>
            <aggregateMarketValue>288813.74</aggregateMarketValue>
            <noOfUnitsOutstanding>45544044</noOfUnitsOutstanding>
            <approxSaleDate>06/10/2025</approxSaleDate>
            <securitiesExchangeName>NASDAQ</securitiesExchangeName>
        </securitiesInformation>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>09/01/2024</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>4692</amountOfSecuritiesAcquired>
            <paymentDate>09/01/2024</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>06/06/2025</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>10653</amountOfSecuritiesAcquired>
            <paymentDate>06/06/2025</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>06/10/2025</acquiredDate>
            <natureOfAcquisitionTransaction>Stock Option Exercise</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>11586</amountOfSecuritiesAcquired>
            <paymentDate>06/10/2025</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>JOSEPH A TYNDALL</name>
                <address>
                    <ns2:street1>13631 Progress Blvd.</ns2:street1>
                    <ns2:street2>Suite 400</ns2:street2>
                    <ns2:city>Alachua</ns2:city>
                    <ns2:stateOrCountry>FL</ns2:stateOrCountry>
                    <ns2:zipCode>32615</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>05/22/2025</saleDate>
            <amountOfSecuritiesSold>20062</amountOfSecuritiesSold>
            <grossProceeds>224745.33</grossProceeds>
        </securitiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>JOSEPH A TYNDALL</name>
                <address>
                    <ns2:street1>13631 Progress Blvd.</ns2:street1>
                    <ns2:street2>Suite 400</ns2:street2>
                    <ns2:city>Alachua</ns2:city>
                    <ns2:stateOrCountry>FL</ns2:stateOrCountry>
                    <ns2:zipCode>32615</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>05/19/2025</saleDate>
            <amountOfSecuritiesSold>2525</amountOfSecuritiesSold>
            <grossProceeds>29365.75</grossProceeds>
        </securitiesSoldInPast3Months>
        <noticeSignature>
            <noticeDate>06/10/2025</noticeDate>
            <planAdoptionDates/>
            <signature>/s/ Joseph Adrian Tyndall</signature>
        </noticeSignature>
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144
0001955281
XXXXXXXX
LIVE
0000805928
AXOGEN INC.
001-36046
13631 Progress Blvd.
Suite 400
Alachua
FL
32615
386-462-6800
JOSEPH A TYNDALL
Director
Common
Morgan Stanley Smith Barney LLC Executive Financial Services
1 New York Plaza
8th Floor
New York
NY
10004
26931
288813.74
45544044
06/10/2025
NASDAQ
Common
09/01/2024
Restricted Stock
Issuer
N
4692
09/01/2024
Not Applicable
Common
06/06/2025
Restricted Stock
Issuer
N
10653
06/06/2025
Not Applicable
Common
06/10/2025
Stock Option Exercise
Issuer
N
11586
06/10/2025
Cash
N
JOSEPH A TYNDALL
13631 Progress Blvd.
Suite 400
Alachua
FL
32615
Common
05/22/2025
20062
224745.33
JOSEPH A TYNDALL
13631 Progress Blvd.
Suite 400
Alachua
FL
32615
Common
05/19/2025
2525
29365.75
06/10/2025
/s/ Joseph Adrian Tyndall