Alphatec Hldgs Inc Stock Price, News & Analysis

Alphatec Holdings (ATEC) reported a 43% year-over-year revenue growth, totaling $41.2 million for Q3 2020, marking the eighth consecutive quarter of double-digit growth. U.S. revenue reached $40.1 million, with a gross margin of 72.9%. The company successfully closed a follow-on offering generating $107.7 million to support growth initiatives. ATEC anticipates full-year 2020 revenue between $143.5 million and $146.0 million, with expected 25% growth in U.S. revenue for 2021, despite potential impacts from COVID-19.

Alphatec Holdings (ATEC) announced the launch of the InVictus™ MIS Tower system, enhancing minimally invasive spinal surgery options. This advanced fixation platform aims to treat complex pathologies with improved surgical adaptability. The InVictus Tower features innovative components such as low-profile removable towers and integrates with the SafeOp™ Neural InformatiX System for real-time nerve monitoring. CEO Pat Miles emphasized the commitment to developing solutions that enhance surgical outcomes, aiming for increased adoption and loyalty among surgeons.

Alphatec Holdings (ATEC) announced the closing of its public offering of 13,142,855 common shares, raising approximately $115 million at a price of $8.75 per share. This includes the full exercise of underwriters' options for an additional 1,714,285 shares. The offering was managed by Morgan Stanley and Cowen, among others. The shares were offered under a previously declared effective shelf registration statement with the SEC. ATEC aims to innovate spine surgery through its subsidiaries, focusing on safe and effective treatment solutions.

Alphatec Holdings, Inc. (ATEC) announced a public offering of 11,428,570 shares of its common stock priced at $8.75 per share, aiming for gross proceeds of approximately $100 million. The offering includes a 30-day option for underwriters to purchase an additional 1,714,285 shares. The transaction is expected to close on October 16, 2020, pending customary conditions. This offering is part of ATEC's strategy to enhance its capital for further innovative developments in spine surgery solutions.

Alphatec Holdings, Inc. (ATEC) has initiated an underwritten public offering of $85 million in common stock. Additionally, ATEC may grant underwriters a 30-day option to purchase up to 15% more shares. All shares are being sold by ATEC, and the offering is subject to market conditions. Morgan Stanley and Cowen are the joint book-running managers for this offering. The shares are offered under a shelf registration statement filed with the SEC. No assurance is provided regarding the completion or terms of the offering.

Alphatec Holdings, Inc. (ATEC) reported preliminary financial results for Q3 2020, forecasting a U.S. revenue increase of 41% to 43% compared to Q3 2019, with total revenue between $40.7 million and $41.1 million. This marks the eighth consecutive quarter of double-digit growth, driven by new product adoption and the SafeOp neuromonitoring system, which accounted for over 70% of revenue. Despite growth, the company anticipates an operating loss of $12.0 million to $13.5 million. ATEC had approximately $41 million in cash as of September 30, 2020.

Alphatec Holdings, Inc. (ATEC) announced the launch of the Sigma TLIF Access System and InVictus Modular Pedicle Screw, aimed at enhancing the transforaminal lumbar interbody fusion (TLIF) clinical experience. These innovations integrate with the SafeOp Neural InformatiX system for a comprehensive spinal surgery approach. The Sigma TLIF Access System improves visualization and reproducibility of minimally invasive surgeries, while the InVictus system enhances fixation reliability. Both systems will be showcased at the virtual North American Spine Society meeting.

Alphatec Holdings, Inc. (ATEC) has successfully performed over 500 prone transpsoas (PTP™) surgeries across the U.S., signaling a substantial advancement in spine surgery techniques. This new procedure streamlines surgical processes, enhancing operational efficiency and achieving improved spinal alignment. ATEC is set to commercially launch the PTP procedure in early Q4 2020. Key innovations include the PTP Patient Positioning System and other integrated tools, which collectively address challenges in lateral spine fusion and enhance predictability for surgeons.

Alphatec Holdings, Inc. (ATEC) announced that CEO Pat Miles will participate in virtual fireside chats at Morgan Stanley's Global Healthcare Conference on September 18, 2020, and Lake Street Capital Markets' Best Ideas Growth Conference on September 17, 2020. CFO Jeff Black will present at the H.C. Wainwright Annual Healthcare Conference on September 15, 2020. Live audio webcasts of the presentations and materials will be available on the investor relations page of ATEC's website. This initiative showcases ATEC's commitment to innovation in spine surgery and enhancing patient safety.