SeaSpine Reports 3Q17 Revenue

SeaSpine announced 3Q17 revenue of US $31.7MM, flat vs. 3Q16, and YTD revenue of $97.8MM, +1.6% vs. the prior year.

Final 3Q17 numbers for SPNE fell in line with preliminary reports of flat growth, but products entering full launch and investments in distribution should change that picture.

Within the quarter, newer products accounted for 30% of U.S. spinal implant revenue. The Shoreline TruProfile Anterior Cervical fixation and Mariner pedicle screw systems are in full launch, and instrumentation refinements are underway to support the coming full launch of the Skipjack expandable cage.

In biologics, 3Q saw the first launch of an internally-developed product since 2010: OsteoStrand Demineralized Bone Fibers. This is in limited launch, and early 2018 will bring another product, OsteStrand Plus DBM with Accell Bone Matrix. RAPID Graft Delivery, alpha-launched in 2Q17, is slated for full commercial launch in January 2018, with improvements based on feedback. (RAPID is based on NLT Spine IP.) Finally, SPNE is expecting late-2017 or early 2018 limited launch of the Ballast™ Resorbable Mesh DBM.

Of note, while some legacy SPNE products have a good road ahead of them based on advancements made to sets, the company is moving toward >50% of revenue deriving from products at four years on-market or less as it exits 2018.

Source: SeaSpine Holdings Corporaton