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August 28, 2015 8:27 PM ET

Healthcare Equipment and Supplies

Company Overview of Baxano Surgical, Inc.

Company Overview

Baxano Surgical, Inc., a medical device company, designs, develops, and markets minimally invasive products to treat degenerative conditions of the spine affecting the lumbar region. It markets the AxiaLIF family of products for single and two level lower lumbar fusion; and the VEO lateral access and interbody fusion system. The company also markets other products that complement these primary offerings, including Vectre facet screw system; Bi-Ostetic bone void filler; bowel retractors; discectomy tools; and a disposable bone graft harvesting system that could be used to extract bone graft used for fusion procedures. Baxano Surgical, Inc. sells its products through a direct sales force, inde...

110 Horizon Drive

Suite 230

Raleigh, NC 27615

United States

Founded in 2000

139 Employees

Phone:

919-800-0020

Key Executives for Baxano Surgical, Inc.

Vice President of Regulatory, Quality & Compliance
Age: 49
Total Annual Compensation: $250.0K
Compensation as of Fiscal Year 2013.

Baxano Surgical, Inc. Key Developments

Baxano Surgical, Inc.(NasdaqGM:BAXS) dropped from NASDAQ Composite Index

Baxano Surgical, Inc. will be removed from the NASDAQ Composite Index.

Baxano Surgical, Inc. Announces Termination Of Its Nasdaq Listing

Baxano Surgical, Inc. announced that it is terminating its listing on The Nasdaq Global Market as of the close of business on November 24, 2014. The company has previously received notices from Nasdaq that it has failed to maintain a minimum bid price of $1.00 per share. In light of its current financial condition, the company does not anticipate that it will be able to meet such minimums or continue to meet other Nasdaq listing standards in the future. In addition, the company has filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in order to facilitate a going concern sale of the company. Following the termination of its listing on Nasdaq, the company intends to terminate its public reporting obligations under the Exchange Act as soon as possible.

Baxano Surgical, Inc. Announces Management Changes

On November 6, 2014, Russell Hirsch, M.D., Ph.D., resigned as a member of the Board of Directors of Baxano Surgical, Inc. and as a member of the Company's Nominating and Corporate Governance Committee. On November 7, 2014, Timothy Shannon resigned from his positions as Chief Financial Officer, Treasurer and Secretary of the Company. On November 10, 2014, Roderick Young resigned as a member of the Board of Directors of the Company and as a member of the Company's Audit Committee.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 29, 2015
Baxano Surgical, Inc., Certain Assets
Merger/Acquisition
January 22, 2015
Baxano Surgical, Inc., AxiaLIF Vectre Screw Product
Merger/Acquisition
January 22, 2015
Baxano Surgical, Inc., VEO Lateral Access & Interbody Fusion Systemwas
 

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