Amedica Corporation (NASDAQ: AMDA) is a commercial biomaterial company focused on using its silicon nitride technology platform to develop, manufacture and sell a broad range of medical devices. Amedica markets spinal fusion products and is developing a new generation of orthopedic bearings for hip and knee arthroplasty. The company operates an ISO 13485 certified manufacturing facility and its spine products are FDA cleared, CE marked, and currently marketed in the U.S. and select markets in Europe and South America.
Recent Events
September 10, 2018. AMDA announced the filing of a U.S. patent application for breakthrough research findings that have identified a new property of its proprietary silicon nitride. Amedica investigators led by Dr. Giuseppe Pezzotti, a professor at the Kyoto Institute of Technology (Japan) and consultant to Amedica Corporation, have developed micromeritic silicon nitride powders as well as bulk surfaces that are effective against several strains of commonly prevalent viruses – including Influenza A virus (H1N1), the virus responsible for the 2009 flu pandemic. https://finance.yahoo.com/news/amedica-announces-filing-key-patent-130000587.html
September 06, 2018. Amedica announced that it has entered into an asset purchase agreement with CTL Medical, a Dallas, TX-based privately held medical device manufacturer that focuses on the spine implant and instrument market, whereby CTL Medical will acquire all of Amedica’s commercial spine business for total consideration of up to $10 million. The transaction is expected to close in the third quarter of 2018, and is subject to usual and customary due diligence and closing conditions. https://finance.yahoo.com/news/amedica-announces-agreement-sell-spine-130000449.html
Products
The silicon nitride biomaterial produced by AMDA is ideal for a wide variety of medical applications including spine, dental, hip, knee, extremities, etc.
Silicon nitride was first prepared in 1857 and was little more than a chemical curiosity for nearly a century. However, things changed in the late 1940s when the compound began to be used across multiple industries, ultimately becoming a key component in electronics, turbo machinery, bearings, and even orbital satellites.
Amedica’s founders discovered that silicon nitride is stronger than bone and PEEK, biologically kind (accepted by the human body) and produced artifact- free imaging. These promising findings led to the development of a proprietary composition of silicon nitride well-suited for medical device applications.
Amedica’s 30,000 sq. ft. ISO 13485 certified manufacturing plant in Salt Lake City, UT is the only medical device production facility in the world that produces CE marked and FDA cleared silicon nitride implants. The operation is vertically integrated from powder processing through to finished product and rigorous quality control. It has the flexibility to produce intricately shaped prototype and production components ranging in size from small dental implants to large articular femoral heads.
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About
Amedica Corporation, a biomaterial company, develops, manufactures, and commercializes a range of medical devices based on its silicon nitride technology platform in the United States, Europe, and South America. The company offers silicon nitride implants to surgeons and hospitals for use in cervical and thoracolumbar spine surgery under the Valeo brand. It also provides a line of non-silicon nitride spinal fixation products to address spinal deformity and degenerative conditions. The company markets and sells its products directly; and through a network of independent sales distributors, as well original equipment manufacturer and private label partnerships. Amedica Corporation was founded in 1996 and is headquartered in Salt Lake City, Utah.
Analysts
2 Wall Street analysts have issued ratings and price targets for Amedica in the last 12 months. There are currently 2 hold ratings for the stock, resulting in a consensus rating of “Hold.”
Date Brokerage Action Rating
5/8/2018 Maxim Group Reiterated Rating Hold
11/27/2017 LADENBURG THALM/SH Downgrade Buy ➝ Neutral
Financial review
Q2 2018
Revenue $2,029,000
Gross profit 1,518,000
Expenses 4,072,000
Operating loss 2,033,000
Net loss 2,312,000
Cash 8,835,000
Stock influences and risk factors
Successful commercialization of silicon nitride-based medical devices could be a catalyst for AMDA shares.
The orthopedic market is highly competitive, and they may not be able to compete effectively against the larger, well-established companies that dominate this market.
They have significant customer concentration, so that economic difficulties or changes in the purchasing policies or patterns of key customers could have a significant impact on the business and operating results.
Use of third-party manufacturers increases the risk that they will not have adequate supplies of non-silicon nitride products or instrumentation sets.
Stock chart
On Tuesday, September 25, 2018, AMDA shares were at $.26 on traded volume of 1.0 million shares. The current RSI (14) is 34.67
At $.26, AMDA is trading below its 50 DMA and 200 DMA of $.41 and $1.57 respectively.
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