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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, Inc. (SIBN) announced the pricing of a public offering of 3,190,053 shares of its common stock at $22.00 per share, aiming to raise approximately $66 million. Of the shares, 3,000,000 are from SI-BONE and 190,053 from a selling stockholder. The offering is set to close on October 19, 2020, with underwriters also granted a 30-day option for an additional 478,507 shares. Morgan Stanley and BofA Securities are the main managers of this offering. The funds will support the company's surgical treatment technologies for sacropelvic anatomy.
SI-BONE, Inc. (SIBN) announced an underwritten public offering of 3,190,053 shares of its common stock, with an additional option for underwriters to purchase 478,507 shares. SI-BONE will offer 3,000,000 shares while a selling stockholder will offer 190,053 shares. The offering hinges on market conditions, and completion timelines remain uncertain. Morgan Stanley and BofA Securities are the lead managers, complemented by Cantor Fitzgerald, JMP Securities, and Needham & Company as co-managers. The offering follows a shelf registration effective since January 2020.
SI-BONE, Inc. (Nasdaq:SIBN) announced preliminary unaudited revenue for Q3 and the first nine months of 2020. Q3 revenue is anticipated between $20.1-$20.4 million, marking a 24%-26% increase year-over-year. U.S. revenue is estimated at $18.7-$18.9 million with a 26%-27% growth. For the nine months, revenue is expected between $51.0-$51.3 million, an 8%-10% increase from 2019. Despite this growth, SI-BONE expresses caution due to the ongoing impacts of COVID-19. Third-quarter results will be disclosed on November 2, 2020.
SI-BONE, a medical device company, announced a virtual surgeon panel led by CEO Jeffrey Dunn on October 8, 2020, from 10am to 11am ET. The panel will feature renowned experts discussing the treatment of sacroiliac joint dysfunction and the role of telehealth in surgery.
Panelists include Dr. Peter Whang from Yale, Dr. Bharat Desai from Panorama Orthopedics, Dr. William Tobler from Mayfield Clinic, and Dr. Robert Eastlack from Scripps Health. Interested attendees can register through SI-BONE’s investor relations website.
SI-BONE, a leader in medical devices for musculoskeletal disorders, announced its participation in the upcoming Morgan Stanley 18th Annual Global Healthcare Conference and 2020 Cantor Global Healthcare Conference. Management will present at a Fireside Chat on September 15, 2020, at 5:00 p.m. ET and September 16, 2020, at 12:20 p.m. ET. Interested parties can access the live and archived webcasts on the company's website. The company is known for its iFuse Implant System, designed for minimally invasive SI joint fusion, supported by extensive clinical studies.
SI-BONE, Inc. (Nasdaq:SIBN) reported Q2 2020 financial results, with revenue of $14.0 million, a 14% decrease year-over-year. U.S. revenue totaled $13.2 million, down 12%. International revenue fell by 36% to $0.8 million, largely due to COVID-19's impact on surgical volumes. The company completed a $40 million debt refinancing and received positive coverage from Aetna, covering over 22 million members. The gross margin decreased to 85% from 90%, and the net loss widened to $12.5 million or $0.44 per diluted share. Guidance for 2020 remains withdrawn amid ongoing uncertainty.
SI-BONE, a medical device company focused on sacropelvic disorders, announced its participation in the 40th Annual Canaccord Genuity Growth Conference. The company will conduct a live Fireside Chat on August 12, 2020, at 1:00 p.m. ET. Interested individuals can access the webcast via the company's website. SI-BONE's iFuse Implant System, designed for minimally invasive sacroiliac joint fusion, is supported by multiple clinical studies demonstrating its effectiveness in treating chronic low back pain. The device has been commercially available since 2009 and is covered by various insurance payors.
SI-BONE, Inc. (Nasdaq: SIBN) will announce its Q2 2020 financial results post-market on August 3, 2020. The management team will host a conference call at 1:30 PM PT, accessible via the company’s website. SI-BONE specializes in minimally invasive surgical solutions for sacropelvic disorders, notably through its iFuse Implant System, which addresses chronic low back pain. Supported by numerous clinical studies, the iFuse Implant is the only SI joint fusion device with established insurance coverage for the procedure. Detailed company and product information can be found on their website.
SI-BONE, Inc. (Nasdaq: SIBN), a medical device company in California, has successfully re-financed its existing $40 million credit facility. The new five-year term loan, secured through Solar Capital Partners, features an interest rate of 9.40% plus the greater of the 1-month LIBOR Rate or 0.33%. This strategic move will enhance SI-BONE's balance sheet and provide improved operating flexibility. The new loan includes a 36-month interest-only period followed by 24 months of amortization. The refinancing indicates the company's strong operational performance and dedicated team.
SI-BONE, Inc. announces that Aetna has established a positive coverage policy for the iFuse Implant System to treat sacroiliac joint dysfunction. Effective May 28, 2020, this policy grants over 22 million Aetna members access to the minimally invasive SI joint fusion when deemed medically necessary. This decision is supported by extensive clinical evidence, including 5-year results from a prospective study. SI-BONE highlights that the iFuse procedure is crucial for patients suffering from SI joint pain, enhancing accessibility and treatment adoption.