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SI-BONE, Inc. (NASDAQ: SIBN) is a leading medical device company specializing in the development and commercialization of innovative, minimally invasive surgical implants for the treatment of musculoskeletal disorders, particularly those affecting the sacroiliac (SI) joint. The company's flagship product, the iFuse Implant System®, offers a less invasive alternative to traditional SI joint fusion surgery. This patented system has been used in over 25,000 procedures, providing a significant improvement in patient outcomes.
SI-BONE's portfolio includes a range of patented titanium implants and instruments specifically designed for sacroiliac fusion. Key products include iFuse-3D, iFuse-TORQ, and iFuse Bedrock Granite. These implants are employed in the management of sacroiliac joint dysfunction, adult spinal deformity, degeneration, and pelvic trauma.
The company has achieved several milestones in recent years. Notably, the iFuse Bedrock Granite implant received FDA clearance in May 2022 and was designated a Breakthrough Device due to its significant advantages over existing alternatives. Subsequently, the Centers for Medicare & Medicaid Services (CMS) adopted a New Technology Add-on Payment of up to $9,828 per procedure for this innovative implant.
SI-BONE is managed by an experienced leadership team with backgrounds in top-tier companies like Kyphon, Medtronic, and Inbone. This expertise has driven the company's growth and innovation in the orthopedic field.
In terms of financial performance, SI-BONE has shown robust growth. The company's annual revenue guidance has been increased to $164 million - $166 million, indicating an annual growth rate of approximately 18%-20%. This growth is fueled by the strong reception of new products and established partnerships with major healthcare providers, including compatibility with Medtronic's Solera® rods.
Since its inception in 2009, SI-BONE has supported over 3,000 surgeons in performing more than 80,000 sacropelvic procedures. The company's technologies are backed by a unique body of clinical evidence, including two randomized controlled trials and over 120 peer-reviewed publications.
For more information on SI-BONE and its range of products, visit the official website at www.si-bone.com.
SANTA CLARA, Calif., June 08, 2021 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (Nasdaq: SIBN) announced its participation in the 2021 JMP Securities Life Sciences Conference. The company is set to present on June 17 at 2:30 p.m. ET. Interested parties can access a live and archived webcast on the company’s website. SI-BONE specializes in minimally invasive surgery of the SI joint with its iFuse Implant System, which has demonstrated effectiveness for treating chronic low back pain associated with sacroiliac joint dysfunction.
SI-BONE, Inc. (SIBN) reported Q1 2021 revenue of $20.4 million, marking a 22% increase from Q1 2020. U.S. revenue reached $18.8 million, up 23% year-over-year. The company launched the iFuse-TORQ implant to address pelvic trauma needs and has transitioned its leadership team, appointing Laura Francis as CEO. Operating loss narrowed to $11.6 million from $11.9 million in 2020. Despite a cautious outlook due to COVID-19, SIBN anticipates 2021 revenue of $92 million to $94 million, projecting a 25% to 28% growth.
SI-BONE, a medical device company focused on sacropelvic disorders, will participate in two key events: the 7th Annual Truist Securities 2021 Life Sciences Summit on May 5, 2021, and the 2021 Bank of America Health Care Conference on May 12, 2021. During the Truist Securities event, management will host a Fireside Chat at 2:40 p.m. ET, and at the Bank of America Conference, they will present at 8:00 a.m. ET. Interested parties can view live and archived webcasts on the company’s website.
SI-BONE, Inc. (SIBN) announced significant leadership changes, appointing Anshul Maheshwari as Chief Financial Officer effective April 20, 2021. The transition also includes Laura Francis taking over as CEO, while Jeff Dunn remains Executive Chairman. Maheshwari brings over 15 years of experience, including his role at Varian Medical Systems. Additionally, Helen Loh and Laura Francis are new Board members, expected to enhance SI-BONE's strategy and marketing efforts. These changes aim to strengthen the company's growth and operational capabilities.
SI-BONE, Inc. (Nasdaq: SIBN) will report Q1 2021 financial results after market close on May 3, 2021. This announcement includes a conference call at 1:30 PM PT / 4:30 PM ET, accessible via phone or webcast on their website. The iFuse Implant System, the company's primary product for treating sacroiliac joint dysfunction, has shown positive clinical outcomes supported by multiple studies. Since 2009, iFuse has been the only SI joint fusion device with established insurance coverage based on its clinical effectiveness and safety.
SI-BONE, Inc. (Nasdaq:SIBN) reported financial results for Q4 and FY 2020, showcasing a 12% increase in Q4 revenue to $22.1 million and a 9% increase for the year to $73.4 million. U.S. revenue grew 10% to $68.1 million for 2020. The company expects 2021 revenue guidance of $92 million to $94 million, reflecting projected growth of 25% to 28%. Operating loss stood at $7.9 million for Q4 and $38.6 million for the year. Cash and securities totaled $196.4 million as of Dec 31, 2020. The company continues to navigate challenges posed by the COVID-19 pandemic.
SI-BONE, Inc. (Nasdaq: SIBN) will announce its financial results for Q4 and full year 2020 on March 8, 2021, after market closure. A conference call will follow at 1:30 PM PT, available via phone and webcast. The company specializes in innovative minimally invasive surgery for sacroiliac joint disorders, particularly with its iFuse Implant System, which is backed by numerous clinical studies highlighting its effectiveness. This press release underscores SI-BONE's commitment to addressing chronic low back pain issues, along with its established insurance coverage for the iFuse procedure.
SI-BONE, Inc. (SIBN) has appointed Laura Francis as Chief Executive Officer, succeeding Jeff Dunn, who transitions to Executive Chairman. Francis, previously CFO and COO, intends to focus on growth through enhancements in sales and new product development. Tony Recupero is promoted to President, Commercial Operations. Preliminary revenue for Q4 2020 is projected at $21.9-$22.2 million, marking an 11-12% increase year-over-year, while full-year revenue is expected between $73.1-$73.4 million, reflecting roughly 9% growth. However, potential COVID-19 impacts remain uncertain, and 2021 financial guidance is not provided.
SANTA CLARA, Calif., Jan. 04, 2021 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (SIBN) announced that the International Society for the Advancement of Spine Surgery published its updated Policy on MIS Sacroiliac Joint Fusion. The policy supports the adoption of MIS SI joint fusion procedures, particularly the iFuse Procedure, based on high-level clinical evidence for its safety and effectiveness. The ISASS does not recommend MIS posterior SI joint fusion due to inadequate clinical evidence. This update provides crucial guidance for clinicians and payors regarding the iFuse Implant System.
SI-BONE, Inc. announced that as of November 25, 2020, Priority Health Michigan became the 36th U.S. payor to adopt an exclusive, positive coverage policy for the iFuse Implant System, which is used in minimally invasive sacroiliac joint fusion surgeries. This new policy covers treatments related to lower back pain specifically for sacroiliac joint disorders. Furthermore, the Blue Cross Blue Shield Association updated its evidence rating to endorse triangular implants, affirming their efficacy compared to other systems. This change is supported by over 85 peer-reviewed studies.
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