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Amedica Reports 1Q16 Revenue


Amedica (AMDA) reported 1Q16 revenue of US $4.2MM, -12.0% vs. 1Q15. (U.S. $4.0MM, -15%; ex-U.S. $0.2MM, +1,391%) Growth is as-reported.

ORTHOWORLD estimates 1Q16 segment revenue and as-reported growth as follows.

  • Spine $4.0MM, -12.0%
  • Orthobiologics $0.2MM, -12.2%

Revenue decreases were attributed to lower private label sales and implementation of the company’s commercial sales plan, which should be complete within 1H16, as well as price pressure and hospital consolidation. Silicon nitride sales of $2.2MM were down -16% vs. 1Q15.

Within 1Q, AMDA signed an exclusive 10-year distribution agreement for silicon nitride products with Weigao Orthopedic. Weigao will leverage its expertise in Chinese regulatory navigation to accelerate clearance of AMDA products. The partnership may eventually extend beyond spine applications to address hip and knee.

Also within the quarter, the company commenced fabrication of first silicon nitride structures with a 3D printing process called robotic deposition, or robocasting. AMDA may pursue Federal grants to develop the technology further.

During 2016, leadership expects growth from its partners in Brazil, where surgeons embrace their silicon nitride products, as opposed to others in orthopaedics that report hindrances to growth in the region.

AMDA is planning a NASS 2016 launch of a new pedicle screw fixation system with complementary instrumentation. 

Sources: Amedica Corporation, SEC.gov, ORTHOWORLD