Amedica Corporation (NASDAQ: AMDA), a company that develops and commercializes silicon nitride for biomedical applications, this morning announced its preliminary earnings report for the fourth quarter and fiscal year ended December 31, 2016, and provided a business updated related to its strategy and recent developments. Among the highlights, Amedica reported preliminary revenue of $3.6 million for the fourth quarter of 2016 and $15.2 million for the full year. Preliminary GAAP net loss for the 12-month period was $1.19 per share, down from a net loss of $5.50 per share in 2015. Looking ahead, Amedica notes that it expects to complete the Beta launch of its Taurus™ Pedicle Screw System in mid-summer as additional instrument sets become available for new surgeon users. This milestone would follow the company’s Alpha launch of the spine fixation product line, which received FDA clearance in November 2016 and has already been used in more than 60 surgeries. Amedica also continues to promote its Valeo® line of silicon nitride spine implants, as noted by chairman and CEO Dr. Sonny Bal.
“Going forward, we are focused on growing spine sales, first and foremost, while pursuing a robust R&D program with academic and industry leaders, to assure leadership in medical ceramic technology,” he stated in the news release. “In addition to adding new U.S. surgeons, Amedica is aggressively targeting revenue opportunities in Brazil, Europe, and Australia, all markets where its silicon nitride implants are approved for sale. With recent submission of favorable clinical data to the Japan PMDA, the company expects approval in that market as well.”
To view the full press release, visit http://nnw.fm/Jxi6O
About Amedica Corporation
Amedica is focused on the development and application of spinal interbody implants made with medical-grade silicon nitride ceramic. Amedica markets spinal fusion products and is developing implants for other biomedical applications, such as wear- and corrosion-resistant hip and knee bearings, and dental implants. The Company’s products are manufactured in its ISO 13485 certified manufacturing facility, and it has a partnership with Kyocera, one of the world’s largest ceramic manufacturers. Amedica’s FDA-cleared and CE-marked spine products are currently marketed in the U.S. and select markets in Europe and South America through its distributor network, and OEM and private label partnerships. For more information on Amedica or its silicon nitride material platform, please visit www.amedica.com.
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