Stock Update (NASDAQ:AMDA): Amedica Corporation Announces Addition of the Valeo II(TM) Lateral Lumbar Interbody Fusion Device System
Amedica Corporation (NASDAQ:AMDA), an innovative biomaterial company which develops and manufactures silicon nitride as a platform for biomedical applications, is pleased to announce the release of its silicon nitride lateral lumbar (LL) interbody fusion device. The Valeo II™ LL interbody fusion device will be commercially available in mid-September 2015, and will include second generation instrumentation to improve patient safety and surgeon ease of use.
“With the release of our new lateral system, we are now able to offer an additional lumbar solution to our line of second generation silicon nitride interbody devices,” said Dr.Sonny Bal, chairman and CEO of Amedica Corporation. “Initial feedback from our beta users has been positive and we’re very pleased to offer this lateral interbody fusion device system, which provides surgeons additional procedure options and allows Amedica access to one of the fastest growing segments in the lumbar fusion market.”
The Valeo II™ LL is made of a micro composite silicon nitride biomaterial, which offers a superior environment for bone growth and osteointegration, when compared to competitive PEEK and titanium offerings. Amedica’s Valeo II™ silicon nitride interbody fusion devices also contain anti-infective properties and are semi-radiolucent with clearly visible boundaries in X-rays and produce no artifacts under MRI or CT scans. The combination of these properties is found only in Amedica’s silicon nitride biomaterial technology. (Original Source)
Shares of Amedica Corp. closed yesterday at $0.4141. AMDA has a 1-year high of $3.43 and a 1-year low of $0.20. The stock’s 50-day moving average is $0.54 and its 200-day moving average is $0.47.
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 represents a potential upside of 143.9% from where the stock is currently trading. According to TipRanks.com, Matson has a total average return of 4.3%, a 58.1% success rate, and is ranked #816 out of 3730 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.