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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. (Nasdaq: SIBN) announced that the Blue Cross Blue Shield Association's annual technology review confirms that only the iFuse Transiliac Triangular Implants are authorized for treating SI joint pain. This follows Arkansas Blue Cross Blue Shield's policy update to cover only SI joint fusion using these implants, aligning with other BCBSA plans. Jeffrey Zigler, VP of Market Access and Reimbursement, emphasized that iFuse is now distinguished from other implants, marking a significant advancement in patient care and reimbursement for SI joint procedures.
SI-BONE, Inc. (SIBN) reported a record worldwide revenue of $22.3 million for Q3 2021, an increase of 9% year-over-year. U.S. revenue reached $20.4 million, up 8% from the previous year. The gross margin improved to 89%. Operating expenses rose 25% to $33 million, primarily due to increased sales and marketing costs. The operating loss expanded to $13.2 million, and the net loss was $15.9 million, or $0.48 per diluted share. The company updated its 2021 revenue guidance to approximately $89 million to $90 million, reflecting a projected growth of 21% to 23%.
SI-BONE, Inc. (Nasdaq: SIBN), a leader in medical technology for musculoskeletal disorders, will release its Q3 2021 financial results on November 8, 2021, after market close. A conference call to discuss these results will begin at 1:30 p.m. PT. Interested investors can join by dialing (866) 470-1968 domestically or (409) 217-8248 internationally, with conference ID: 4991983. Additionally, a live webcast will be available on the company’s website and archived for 90 days.
SI-BONE is well-regarded for its iFuse Implant System, used in over 60,000 procedures.
SI-BONE, Inc. announced that UnitedHealthcare will exclusively cover its iFuse triangular implants for minimally invasive SI joint fusion procedures, effective October 1, 2021. This change highlights a shift from covering all devices to a specific preference for iFuse implants, supported by over 100 peer-reviewed publications and more than 60,000 iFuse procedures performed. With coverage from UnitedHealthcare, which has over 45 million members, and other major insurers, the policy aims to enhance patient access to effective treatment for degenerative SI joint disease.
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.