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Monthly compilations are available in PDF form.

Quarterly Review

2Q13 Revenue: Baxano Surgical

$3.9MM, +12% (U.S. $3.7MM, +6%, ex-U.S. $0.2MM, flat; Baxano products $0.8MM; U.S. AxiaLIF $1.8MM, -21%; U.S. VEO $0.7MM, +49%)

Pro forma $5.6MM (U.S. $5.5MM, +2%; U.S. iO-Flex $2.6MM, +15%)

 

  • 153 domestic AxiaLIF procedures performed; 1st quarter of meaningful sequential domestic growth since Category III code put in place (early 2009)
  • 69 VEO cases, +73%
  • 679 iO-Flex cases, -8% sequentially (but up year-over-year)
  • All surgeon training now incorporates iO-Flex
  • 23 surgeons returned to AxiaLIF to date in 2012, representing ~10% of AxiaLIF caseload
  • >1MM covered lives for AxiaLIF, consistent w/2Q
  • Completed initial Baxano/TranS1 cross training of integrated salesforce; completion slated for end of 3Q
  • Future product launches include ioTome (4Q) and AVANCE pedicle screw (mid-2014)
  • STRiDE study (Spondylolisthesis Treated with an iO-Flex® System enabled Decompression) on track to complete 50-patient enrollment by end of 2013
  • Estimates MIS encompasses ~25% of total spine market; claims that over the next 4-5 years, could approach 50%