SeaSpine (Nasdaq:SPNE) this morning reported fourth-quarter results that were mixed compared to the consensus forecast. The Carlsbad, California-based company posted losses of $18.8 million, or 52¢ per share, on sales of $55.6 million for the three months ended Dec. 31, 2021, for a bottom-line slide deeper into the red on sales growth of 19.7%. SeaSpine’s […]
SeaSpine
SeaSpine launches new orthobiologic products
SeaSpine (NSDQ:SPNE) announced the launches of the NorthStar cervical facet fusion and Flash navigation lumbar facet fusion. Carlsbad, California-based SeaSpine designed what they tout as first-of-their-kind orthobiologic systems to streamline reproducible procedural workflow while maximizing the area for fusion with OsteoStrand DBM fibers contained within the facet joint. According to a news release, the company […]
SeaSpine fully launches its Admiral ACP system
SeaSpine (NSDQ:SPNE) announced today that it began the full commercial launch of its Admiral ACP (anterior cervical plating) system. Carlsbad, California–based SeaSpine designed its Admiral ACP as the next generation of anterior cervical plating. It’s meant to find the optimal balance between strength, profile and construct rigidity. According to a news release, the platform includes […]
SeaSpine results miss in Q3 as COVID-19 takes a toll
SeaSpine (NSDQ:SPNE) this evening reported third-quarter results that missed the Wall Street consensus forecast as sales took a hit from the fall’s COVID-19 resurgence. The Carlsbad, Calif.-based spine surgery technology company lost $17.6 million, or 48¢ per share, on sales of $46.4 million for the quarter ended September 30, 2021 — versus a loss of […]
SeaSpine warns of COVID-19 hit to surgical revenue
SeaSpine Holdings (NSDQ:SPNE) is the latest medical device maker warning that the SARS-CoV-2 Delta variant wave is hurting its business. Carlsbad, California–based SeaSpine filed an update for investors with the Securities and Exchange Commission on Sept. 24, citing “ongoing uncertainty regarding the duration and severity of COVID-19 and/or staffing shortages on spine surgery procedure volumes […]
SeaSpine beats The Street in Q2, raises sales guidance
SeaSpine (NSDQ:SPNE) shares ticked up as the markets closed today on second-quarter results that beat the consensus forecast. The Carlsbad, Calif.-based spine surgery technology company posted losses of -$5.2 million, or -16¢ per share, on sales of $47.5 million for the three months ended June 30, 2021, for a 62% bottom-line gain on sales growth […]
Report: Medtech dollars, deals hit new highs in first half of 2021
Fueled at least in part by exceptionally strong IPO and M&A markets, hedge funds, venture capitalists, private equity firms and corporate investors are committing more time and money into privately held medical devices companies, according to a new “Healthcare Investments and Exits” report issued by Silicon Valley Bank. The report examining the first half of […]
SeaSpine rises after hours on Street-beating Q1
SeaSpine (NSDQ:SPNE) shares ticked up after hours today on first-quarter results that beat the consensus forecast. The Carlsbad, Calif.-based company posted losses of -$12.7 million, or -46¢ per share, on sales of $42 million for the three months ended March 31, 2021, for a -1.3% bottom-line slide on sales growth of 16.2%. Adjusted to exclude […]
The 10 largest orthopedic device companies in the world
Pent-up demand could make orthopedic devices a hot space in 2021. The COVID-19 pandemic was especially brutal for the orthopedic device industry. Many of the largest companies in the space saw double-digit percentage declines in revenue in 2020. Health providers delayed or canceled elective procedures to focus on the pandemic, and patients stayed away in […]
SeaSpine prices $87.8M offering
SeaSpine (NSDQ:SPNE) announced that it priced an underwritten public offering worth proceeds of approximately $87.8 million. Carlsbad, Calif.-based SeaSpine is offering 4.5 million shares of its common stock at a public offering price of $19.50 per share, leading to the $87.8 million expected in proceeds before deducting discounts, commissions and other expenses, according to a […]
MedTech 100 roundup: Slight rise for the industry
While medtech’s performance still isn’t mirroring the beginning of 2021, the industry is showing signs of life with a small improvement last week. The year’s strong start, during which MassDevice‘s MedTech 100 index notched an all-time best of 110.96 points (Feb. 15) came to an end later that month and carried over into March, with the […]