Company Update (NASDAQ:AMDA): Amedica Corporation Signs Additional Silicon Nitride Private Label Agreement
Amedica Corporation (NASDAQ:AMDA), a company that develops and commercializes silicon nitride ceramics as a biomaterial platform, is pleased to announce it has entered into a multi-year private label agreement with a regional medical device company that markets solutions for the treatment of spinal disorders.
Pursuant to the terms of the non-exclusive agreement, Amedica will provide sterile-packed silicon nitride spinal interbody fusion devices to be available in key domestic markets. The agreement underscores Amedica’s continued focus to provide superior and innovative solutions to the market.
“We are very pleased to announce an additional private label partner,” said Dr. Sonny Bal, chairman and CEO of Amedica Corporation. “This newest alliance should positively impact our financial results and further validates our uniquely differentiated biomaterial technology, while complementing our current distribution structure. We remain committed to offering our partners a biomaterial with inherent distinct benefits to improve the efficacy of spinal fusion procedures, resulting in enhanced patient care.”
Amedica’s spinal interbody fusion devices are made of a micro-composite silicon nitride biomaterial – a breakthrough ceramic containing the world’s first natural nano-surface biotechnology. This unique biomaterial is also hydrophilic to attract both osteoblasts and physiologic proteins to ensure reliable osteointegration, and its surface biochemistry inhibits bacterial biofilm adhesion. This combination of optimal material properties is unique to Amedica’s silicon nitride material platform. (Original Source)
Shares of Amedica closed yesterday at $0.27. AMDA has a 1-year high of $1.87 and a 1-year low of $0.20. The stock’s 50-day moving average is $0.31 and its 200-day moving average is $0.40.
On the ratings front, Needham analyst Michael Matson maintained a Buy rating on AMDA, with a price target of $1, in a report issued on August 14. The current price target implies an upside of 270.4% from current levels. According to TipRanks.com, Matson has a total average return of -0.4%, a 57.3% success rate, and is ranked #2790 out of 3824 analysts.
Amedica Corporation is a commercial-stage biomaterial company. It is engaged in using its silicon nitride technology platform to develop, manufacture & commercialize medical devices. Its products include valeo interbody fusion devices & facet fixation.