Amedica Corporation (AMDA), an innovative biomater
Post# of 23095
Posted On: 12/11/2015 7:12:57 PM
Amedica Corporation (AMDA), an innovative biomaterial company which develops and manufactures silicon nitride ceramics as a platform for biomedical applications, declared financial results for the third quarter ended September 30, 2015.
Recent Company Highlights
Cash and cash equivalents totaled $11.3 million, and net cash used in operating activities during the quarter reduced by $1.3 million, or 43%, from the prior year period
Reduced debt principal balance by $3.5 million, or 14%, and eliminated conversion feature of the convertible note
Two-year performance data from the CASCADE clinical trial presented to the U.S. Food and Drug Administration (FDA), with an anticipated final response in the first quarter of 2016
Received Brazilian clearance and shipped initial order of first generation silicon nitride interbody devices and instrumentation
Designated world-renowned materials scientist Giuseppe Pezzotti, PhD to the Scientific Advisory Board
Launched Valeo II™ lateral lumber interbody fusion device system and innovative articulating inserter for minimally invasive TLIF procedures
Finalized definitive agreements to raise up to $15 million in equity financing, which will strengthen the Company’s balance sheet, reduce debt and be used for working capital
“I’m extremely happy with the milestones Amedica reached during the third quarter and anticipates to reach during the balance of this year. These achievements have truly transformed our company for the better,” said Dr. Sonny Bal, Chairman and CEO of Amedica Corporation. “We made excellent progress this quarter as we launched new product offerings and expanded our silicon nitride global footprint into Brazil, which is both a sizeable targeted commercial market and provides a solid cornerstone for future growth in the South American market.
Amedica Corporation, a commercial-stage biomaterial company, develops, manufactures, and sells a range of medical devices based on its silicon nitride technology platform in the United States, Europe, and South America. It offers Valeo silicon nitride interbody spinal fusion devices for use in the cervical and thoracolumbar areas of the spine; and a line of non-silicon nitride spinal fusion products.
Recent Company Highlights
Cash and cash equivalents totaled $11.3 million, and net cash used in operating activities during the quarter reduced by $1.3 million, or 43%, from the prior year period
Reduced debt principal balance by $3.5 million, or 14%, and eliminated conversion feature of the convertible note
Two-year performance data from the CASCADE clinical trial presented to the U.S. Food and Drug Administration (FDA), with an anticipated final response in the first quarter of 2016
Received Brazilian clearance and shipped initial order of first generation silicon nitride interbody devices and instrumentation
Designated world-renowned materials scientist Giuseppe Pezzotti, PhD to the Scientific Advisory Board
Launched Valeo II™ lateral lumber interbody fusion device system and innovative articulating inserter for minimally invasive TLIF procedures
Finalized definitive agreements to raise up to $15 million in equity financing, which will strengthen the Company’s balance sheet, reduce debt and be used for working capital
“I’m extremely happy with the milestones Amedica reached during the third quarter and anticipates to reach during the balance of this year. These achievements have truly transformed our company for the better,” said Dr. Sonny Bal, Chairman and CEO of Amedica Corporation. “We made excellent progress this quarter as we launched new product offerings and expanded our silicon nitride global footprint into Brazil, which is both a sizeable targeted commercial market and provides a solid cornerstone for future growth in the South American market.
Amedica Corporation, a commercial-stage biomaterial company, develops, manufactures, and sells a range of medical devices based on its silicon nitride technology platform in the United States, Europe, and South America. It offers Valeo silicon nitride interbody spinal fusion devices for use in the cervical and thoracolumbar areas of the spine; and a line of non-silicon nitride spinal fusion products.
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NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'