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SeaSpine Holdings Corporation (NASDAQ: SPNE) has launched the Reef TO Interbody System, designed for posterior lumbar interbody procedures. This system features both direct impact insertion and insert-and-rotate techniques, offering a comprehensive set of instruments for surgeons. The Reef TO employs NanoMetalene surface technology for enhanced biocompatibility and improved stability through Reef Topography. Surgeons have noted its versatility in addressing various spinal pathologies. However, there are inherent risks associated with new product performance and clinical validation.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced it will release its fourth quarter financial results after market close on March 1, 2021. The management team will host a conference call and webcast at 1:30 PM PT / 4:30 PM ET to discuss these results. Interested participants can join by dialing (877) 418-4766 (domestic) or (614) 385-1253 (international) with Conference ID: 3485218. SeaSpine is a global medical technology firm specializing in surgical solutions for spinal disorders, providing a comprehensive portfolio of orthobiologics and spinal implants.
SeaSpine Holdings Corporation (NASDAQ: SPNE) has announced the limited commercial launch of its 3D-printed WaveForm TA (TLIF Articulating) Interbody Implant System, marking its first entry into 3D-printed lumbar interbody solutions. This launch follows the WaveForm C Interbody System introduced in September 2020. WaveForm TA features advanced porosity, offering 65% porous endplates and 75% porous architecture, ideal for TLIF procedures. The company plans to introduce three more 3D-printed systems by mid-2021, enhancing its portfolio for spinal disorder treatments.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced the issuance of inducement awards to nine new employees on February 1, 2021. The awards consist of options to purchase 16,533 shares and restricted stock units for an aggregate of 11,636 shares. The options' exercise price is set at $16.64, aligned with the closing stock price on the grant date. The vesting schedule includes 25% on the first anniversary and the remaining 75% in quarterly installments. The plan aims to incentivize new hires, as approved by the independent compensation committee in accordance with Nasdaq rules.
On January 20, 2021, SeaSpine Holdings Corporation (NASDAQ: SPNE) announced the limited commercial launch of its Regatta Lateral Plate System, the first standalone lateral plate for the company. This system, designed for Lateral Lumbar Interbody Fusion (LLIF), offers multiple plating options and integrates with SeaSpine's existing Regatta Interbody. The new product aims to enhance surgical outcomes by minimizing retractor expansion and improving fixation with a lower profile. SeaSpine’s continued innovation reflects its commitment to providing comprehensive surgical solutions.
SeaSpine Holdings Corporation (NASDAQ: SPNE) reported preliminary financial results for Q4 and full-year 2020, indicating U.S. revenue growth of 7-8%. Q4 2020 revenue is projected to be $46.2-$46.6 million, a 6-7% increase year-over-year. U.S. Spinal Implants and Orthobiologics revenues also showed strong growth. However, international revenue is expected to decline by 3%. The total expected revenue for 2020 is around $154.1-$154.5 million, marking a 3% decrease from 2019. The company remains cautious due to the impact of COVID-19 on elective surgeries and has not provided guidance for 2021.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced FDA 510(k) clearance for its NanoMetalene® surface technology, enhancing its interbody devices. This amended clearance allows a description of the technology as having a microscopic, roughened surface with nano-scale features. NanoMetalene aims to improve integration and maintain the benefits of PEEK implants. Over 35,000 devices utilizing this technology have been implanted. SeaSpine plans to incorporate NanoMetalene into more implant systems shortly, reinforcing its Fusion Engineered™ approach.
SeaSpine Holdings Corporation (NASDAQ: SPNE) has announced the limited commercial launch of its Meridian ALIF System and Reef A interbody technology, aimed at providing comprehensive surgical solutions for spinal disorders. This system features modularity, robust fixation options, and adaptability for varied surgical needs, as highlighted by user testimonials from prominent surgeons. The innovative NanoMetalene surface technology enhances the interbody portfolio, aiming to improve patient outcomes in spinal procedures. While SeaSpine's advancements signal strong potential, they also carry inherent risks associated with product performance and market acceptance.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced the limited commercial launch of its Admiral ACP System for anterior cervical plating, aimed at improving surgical efficiency for ACDF procedures. The first case was performed by Dr. Don Park at UCLA, who praised the system's innovative instrumentation. The Admiral ACP is designed for use with the company’s interbody offerings and features multiple plating options. CEO Keith Valentine indicated that this system could drive significant growth in the cervical marketplace, enhancing SeaSpine’s evolving product portfolio.
SeaSpine Holdings Corporation (NASDAQ: SPNE) reported third-quarter 2020 revenue of $43.2 million, up 8% year-over-year. U.S. revenue reached $39.1 million, driven by a 10% increase in both U.S. Spinal Implants and Orthobiologics. Gross margin improved to 67.4%, while operating expenses rose to $35.8 million. The net loss was $6.6 million, a decrease of $3.1 million compared to last year. For Q4 2020, SeaSpine projects revenue between $47.0 million and $48.0 million, indicating 7% to 10% growth.
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