January 29, 2015 4:33 PM ET

Healthcare Equipment and Supplies

Company Overview of Amedica Corporation

Company Overview

Amedica Corporation, a commercial-stage biomaterial company, develops, manufactures, and sells a range of medical devices in the United States. It offers Valeo silicon nitride interbody spinal fusion devices for use in the cervical and thoracolumbar areas of the spine; Valeo stand-alone anterior lumbar intervertebral fusion device; and a line of non-silicon nitride spinal fusion products used by surgeons to promote bone growth and fusion in spinal fusion procedures. The company also develops femoral heads for use in its total hip replacements; and femoral condyle components for use in its total knee replacements. It markets and sells its products to surgeons and hospitals in the United State...

1885 West 2100 South

Salt Lake City, UT 84119

United States

Founded in 1996

74 Employees

Phone:

801-839-3500

Key Executives for Amedica Corporation

Chief Technology Officer
Age: 62
Total Annual Compensation: $228.5K
Compensation as of Fiscal Year 2013.

Amedica Corporation Key Developments

Amedica Corporation Announces Executive Changes

On January 7, 2015, the board of directors of Amedica Corporation authorized the implementation of certain cost saving measures which included a reduction in staff of 25 employees, or approximately 28% of the company's workforce as the result of a comprehensive business review to improve financial performance, increase operational efficiencies and strengthen the company's value proposition. The staff reduction was implemented and completed on January 8, 2015. In connection with Amedica's staff reduction, Gordon Esplin, the company's Vice President Finance and Principal Accounting Officer, also left the employ of the company. Effective January 9, 2015, Ty Lombardi has been appointed to serve as the company's Vice President Finance and Principal Accounting Officer. Mr. Lombardi previously served as the Director of Finance for the company from March 2014 through January 2015. Prior to joining Amedica, Mr. Lombardi was part owner of Cadence Consulting Corporation, where he served as principal consultant from January 2006 to March 2014 and provided a wide range of financial and accounting services.

Amedica Corporation Announces Results of its CASCADE Study

Amedica Corporation released the results of its CASCADE study, a blinded, randomized clinical trial that compared outcomes of spinal fusion surgery between its composite silicon nitride spacers manufactured with a central core of cancellous structured ceramic (CsC), to the gold standard, i.e., PEEK (polyether ether ketone plastic) spacers filled with bone autograft. The CASCADE study enrolled 104 patients in a prospective clinical trial that independently scored fusion rates and clinical outcomes at 12 months follow-up. Neck Disability Index scores decreased similarly in both patient groups, consistent with clinical improvements reported in the literature. Importantly, the incidence of cervical spine fusion was statistically identical between study groups, and consistent with figures reported in other studies. For the first time, a porous synthetic interbody spacer with no bone or bone fillers has shown fusion rates that are equivalent to the gold standard. Previously the company have demonstrated that the surface topography and chemistry of current Valeo silicon nitride spacers - sales of which were up 50% through the third quarter of 2014 as compared to the same period for 2013 - are uniquely conducive to bone ongrowth and bacterial resistance. In fact, many manufacturers are trying to overcome the limitations of PEEK spacers, and replicate superior bone ongrowth properties by enhancing PEEK with costly porous metal coatings, or hydroxyapatite and related materials. Amedica is leap-frogging the competition yet again with composite, solid-and-porous CsC spacers to deliver equivalent fusion without the use of any bone, bone void fillers, or expensive biologics.

Amedica Corporation Provides Earnings Guidance for the Year Ending December 31, 2014

Amedica Corporation announced that it expects to report full-year 2014 revenue in the range of $22 million and $24 million. These preliminary, unaudited financial results for the year ending December 31, 2014 are based on current expectations and are subject to quarter-end closing adjustments, actual results may differ. The company continues to recognize strong acceptance and sales of its core silicon nitride material, while experiencing softer demand for its metals products during the fourth quarter 2014.

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