The Salt Lake City, Utah-based company said it expects to post revenue of $3.7 million for the 4th quarter with net loss of 16¢ per share, down from net losses of 57¢ per share last year during the same quarter.
For the full year, Amedica expects to post $15.2 million with GAAP net loss at $1.19 per share, lower than the $5.50 net loss reported in the previous fiscal year. Cash and cash equivalents were reported at $6.9 million on December 31, 2016, down $4.6 million from 2015, according to a press release.
Amedica shares rose 6¢, or approximately 23.2% in trading today to close at 34¢.
In April, Amedica said it won regulatory clearance in Australia for its Valeo product line of interbody fusion devices.
The Valeo products are made from its proprietary medical grade silicon nitride ceramic, which Amedica touts as “an ideal material for fusion” due to its nanostructured surgace, osteoconductivity, osteoinductivity, anti-microbial properties and ease of radiographic imaging.