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SINTX Technologies, Inc. (NASDAQ: SINT) is a pioneering advanced ceramics company, renowned for its development and production of medical-grade silicon nitride. This innovative biomaterial is not only ideal for spinal fusion applications but also boasts a variety of medical uses due to its unique nanosurface texture. This texture promotes bone growth, offers excellent imaging capabilities, and demonstrates antibacterial properties.
Originally known for its research, development, and commercialization of silicon nitride-based medical devices, SINTX has expanded its horizons. Today, the company is involved in a wide array of biomedical, technical, and antipathogenic applications. SINTX's biomedical products are celebrated for their biocompatibility, bioactivity, and exceptional bone affinity. Spinal implants made from SINTX silicon nitride have been successfully implanted in patients across the United States, Europe, Brazil, and Taiwan.
SINTX Technologies operates the only FDA-registered and ISO 13485 certified silicon nitride medical device manufacturing facility in the world. Their robust sales and distribution network underpins their commitment to delivering innovative healthcare solutions that significantly enhance patient quality of life.
In addition to medical devices, SINTX is actively engaged in developing solutions for various technical and antipathogenic applications. These efforts include the creation of advanced ceramic materials designed to meet the evolving needs of multiple industries.
- Core Business: Manufacturing of medical-grade silicon nitride and advanced ceramics for diverse applications.
- Recent Achievements: Successful implantation of silicon nitride spinal implants in multiple countries.
- Current Projects: Expansion into technical and antipathogenic ceramic solutions.
- Partnerships: Collaborations with healthcare providers and research institutions globally.
- Financial Condition: Continuously innovating to maintain a strong market presence and financial stability.
Stay updated with the latest news from SINTX Technologies, as they continue to push the boundaries of advanced ceramics and medical innovation.
SINTX Technologies (NASDAQ: SINT) announced its Board of Directors initiated a process to explore strategic options for the Company. SINTX specializes in technical materials, with R&D and manufacturing sites in Salt Lake City and Millersville, MD. The company’s product portfolio includes FDA-approved silicon nitride ceramic spinal fusion devices, ceramic-polymer composites, and femoral head technology. SINTX has secured long-term supply agreements in the aerospace sector and has capabilities in 3D printing, CVI and CVD processes, and ballistic materials. CEO Sonny Bal highlighted the need for additional investment to leverage growth opportunities in medical, defense, and renewable energy markets. Ascendiant Capital Markets has been retained as a strategic advisor. No specific outcomes or timelines have been established for this strategic review.
On June 12, 2024, SINTX Technologies announced it has regained compliance with Nasdaq's $1.00 minimum bid price requirement, as confirmed by a formal notice from Nasdaq on June 11, 2024. This resolution addresses the previous listing issue under Nasdaq Listing Rule 5550(a)(2). Despite this development, SINTX remains under a 'Mandatory Panel Monitor' for one year from June 11, 2024. If the company fails to maintain a $1.00 closing bid price for 30 consecutive business days during this period, Nasdaq will issue a delist determination without a grace period for compliance. The company can request a new hearing if this occurs.
SINTX Technologies, a leader in advanced ceramic materials, has received a $75,000 phase I SBIR contract from AFWERX to enhance the sinterability of 3D printed silicon nitride. This project aims to address material challenges in high-temperature propulsion and guidance systems for the Air Force. If successful, SINTX could secure a phase II contract worth up to $1.25M. This initiative aligns with SINTX's strategic focus on aero-engine and RF applications. The company leverages its expertise in silicon nitride and the additive manufacturing knowledge of its subsidiary, TA&T, acquired in 2022. This effort underscores SINTX's broader technical ceramics market expansion, including aerospace and defense sectors.
SINTX Technologies has entered a 5-year strategic agreement with Myosung Co. from Korea. Myosung, led by Dr. Lee Boo Rak, will represent SINTX's interests in Korea, focusing on technical ceramic products and services. This partnership aims to expand SINTX's presence in international markets, particularly within the medical technology sector. Dave O’Brien, EVP & COO of SINTX, expressed confidence in the collaboration, expecting it to generate significant new business. Dr. Lee Boo Rak highlighted the unique offerings of SINTX and anticipated strong growth for both companies through this cooperation.
SINTX Technologies announced a 1-for-200 reverse stock split effective May 28, 2024, aimed at meeting Nasdaq's minimum bid requirements. The split will reduce outstanding shares from 123 million to 0.6 million while maintaining stockholder percentage interest. Existing shares will be automatically converted, and the company will start trading on a split-adjusted basis under the symbol 'SINT' from the effective date. No cash will be provided for fractional shares, which will be rounded up. The transfer agent will update stockholders' accounts accordingly.
SINTX Technologies, Inc. and Prodways Printers SAS have formed a technical partnership and ceramic slurry supply agreement. SINTX will supply ceramic-filled slurries to Prodways for 3D printing applications. SINTX is known for its expertise in 3D printing ceramics and has a history of successful component production. The partnership will enable collaboration on advanced technical ceramics, particularly in casting applications. Prodways will utilize SINTX's qualified slurries on their latest MovingLight machines, enhancing their capabilities in ceramic printing.
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