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Amedica: 2016 Preliminary Results and Business Update


Amedica announced preliminary 2016 revenue of US $15.2MM, -22.2% vs. 2015, and 4Q16 revenue of $3.6MM, -30.5% vs. 4Q15.

The company continues to assess potential impairment related to certain of its long-lived assets before filing its Annual Report for 2016 and Form 10-Q for 1Q17.

To date, the Taurus™ Pedicle Screw has completed >60 surgeries since initial launch in 1Q17, generating $0.45MM in new revenue with 10 new surgeons trialing. Beta launch is slated for mid-summer 2017.

Amedica has entered purchasing agreements for Valeo® silicon nitride spine implants with multiple national and regional hospital groups in the U.S. 

Other highlights include:

  • 12% increase in surgeons users vs. end of 2016
  • 10% increase in sales agents vs. end of 2016
  • Multi-center retrospective >1,000 patient clinical study initiated with long-term surgeon users of silicon nitride 
  • Exhaustive 2017 audit of Quality and Regulatory systems by FDA and Brazil's ANVISA indicated full compliance
  • Ongoing metal-ceramic brazing project with a global ceramics manufacturer continues, targeting the total knee market and composite devices for spine

Sources: Amedica Corporation, ORTHOWORLD Inc.