SI-BONE, Inc. reports developments for a medical device business focused on procedural solutions for compromised bone and sacropelvic disorders. The company develops technologies centered on spinopelvic anatomy, including applications in minimally invasive SI joint fusion, adult spinal deformity, spinopelvic and sacropelvic fixation, and pelvic trauma.
Recurring updates include quarterly and annual financial results, revenue guidance, cash flow and adjusted EBITDA commentary, physician adoption metrics, reimbursement developments, and healthcare conference presentations. Product references include the iFuse Implant System, iFuse Bedrock Granite, iFuse TORQ, iFuse TORQ TNT, iFuse 3D, and related surgical implant technologies.
SI-BONE, a medical device firm listed on Nasdaq under the symbol SIBN, announced its participation in two upcoming investor conferences. The 19th Annual Morgan Stanley Global Healthcare Conference will feature a fireside chat on September 14, 2021, at 12:30 p.m. ET. Additionally, SI-BONE will present at the Cantor Virtual Global Healthcare Conference on September 27, 2021, at 4:00 p.m. ET. Interested parties can access live and archived webcasts via the company’s website.
SI-BONE specializes in surgical treatments for musculoskeletal disorders and is known for its iFuse Implant System.
SI-BONE reported record second quarter 2021 revenue of $22.2 million, a 58% increase year-over-year. U.S. revenue was $20.2 million, up 53% from 2020. Gross margin improved to 89%, compared to 85% in 2020. Operating expenses rose 49% to $32.8 million, resulting in an operating loss of $13.0 million. Net loss was $14.0 million, or $0.42 per diluted share. The company maintains 2021 revenue guidance of $92 million to $94 million, reflecting 25% to 28% growth.
SI-BONE, Inc. (Nasdaq: SIBN) announced that Anthem, America's 2nd largest health insurer, will cover minimally invasive SI joint fusion exclusively with the iFuse Implant System. This new policy, effective from July 30, 2021, provides virtually universal coverage for chronic sacroiliac joint pain, contingent on specific criteria. Anthem has adopted clinical guidelines from AIM Specialty Health, aligning coverage with current medical practices and supporting the iFuse system backed by multiple clinical trials. This marks a significant step for patient access and positions SI-BONE favorably within the competitive health insurance landscape.
SI-BONE, Inc. (Nasdaq: SIBN), a leader in musculoskeletal disorder solutions, announced its participation in the Canaccord Genuity 41st Annual Growth Conference on August 11 at 3:30 p.m. ET. This event will showcase SI-BONE's innovations, particularly the iFuse Implant System, designed for minimally invasive surgeries targeting SI joint pain, a contributor to chronic low back pain affecting up to 30% of patients. More than 55,000 SI joint fusion procedures have been performed using this technology. Live access to the presentation will be available on the company’s website.
SI-BONE, a leader in musculoskeletal disorder treatments, will report its second quarter 2021 financial results on August 2, 2021, after market close. A conference call will follow at 1:30 p.m. PT, which investors can join by calling (866) 470-1968. The company's iFuse Implant System has been pivotal in treating SI joint issues, supported by extensive clinical evidence. More than 55,000 procedures have been conducted by over 2,300 surgeons. SI-BONE aims to leverage its market position for further commercial device development.
SI-BONE, Inc. (Nasdaq: SIBN) announced on July 14, 2021, that Centene Corporation has implemented a positive coverage policy for the iFuse Implant System, a treatment for chronic sacroiliac joint pain. This policy recognizes minimally invasive SI joint fusion as a medically necessary procedure when specific criteria are met, enhancing patient access. Centene serves over 25 million members and aims to improve treatment availability for low-income individuals. The policy reflects extensive clinical evidence supporting the safety and effectiveness of the iFuse system.
SI-BONE, Inc. (Nasdaq: SIBN) has released promising 24-month results from the SALLY study, showcasing the efficacy of the iFuse-3D™ Implant System in treating sacroiliac joint pain. The study reported a significant decline in opioid use from 59% to 18% and consistent improvements in patient function and quality of life. This follows earlier studies endorsing the iFuse implant's safety and effectiveness. The iFuse-3D implant, designed for enhanced bone integration, is expected to further bolster the company's market position in the medical device sector.
SI-BONE, Inc. (SIBN) has launched the SI-BONE SImulator™, a revolutionary training simulation system for surgeons. This innovative platform is designed to enhance the learning of SI-BONE sacropelvic procedures, including iFuse procedures, using radiation-free technology. The SImulator can be utilized in various settings without traditional imaging equipment, making it accessible and portable. The collaboration with Medability has resulted in a versatile training tool that supports both group and individual training sessions and focuses on patient-specific anatomies.
SI-BONE, Inc. (Nasdaq: SIBN) announced national reimbursement for the iFuse-3D Implant System™ by the French Health Ministry, effective June 1, 2021, for five years. This follows a positive opinion from the Haute Autorité de Santé recognizing the implant's therapeutic benefits for sacroiliac joint dysfunction. The implant is the first 3D-printed titanium solution for SI joint fusion, designed for effective bony integration. With reimbursement confirmed, patient access in France improves, allowing surgeons to leverage this technology for various pelvic and spinal conditions.
SANTA CLARA, Calif., June 08, 2021 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (Nasdaq: SIBN) announced its participation in the 2021 JMP Securities Life Sciences Conference. The company is set to present on June 17 at 2:30 p.m. ET. Interested parties can access a live and archived webcast on the company’s website. SI-BONE specializes in minimally invasive surgery of the SI joint with its iFuse Implant System, which has demonstrated effectiveness for treating chronic low back pain associated with sacroiliac joint dysfunction.