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Treace Medical Concepts, Inc. develops and markets orthopaedic medical devices for the surgical treatment of bunions and related midfoot deformities. Its updates center on the Lapiplasty® 3D Bunion Correction procedure and related technologies used by surgeons, ambulatory surgery centers and hospitals.
Recurring news themes for TMCI include quarterly and annual financial results, revenue guidance, surgeon adoption, cash and liquidity updates, product introductions and clinical data. Company announcements also cover additions to the bunion and midfoot technology portfolio, including SuperBite™ Compression Screw System, Lapiplasty® Lightning™ technology, SpeedMTP® and IntelliGuide® PSI, as well as patent portfolio activity and presentations at foot and ankle surgery conferences.
Treace Medical Concepts (TMCI) announced preliminary unaudited revenue results for Q4 and full year 2021, projecting revenues between $33.1 million to $33.4 million for Q4 and $94.1 million to $94.4 million for the year, marking a growth of 37% to 39% and 64% to 65% year-over-year, respectively. The company highlights a 53% to 54% sequential revenue increase from Q3 2021. CEO John T. Treace expressed confidence in their market position and the effectiveness of their Lapiplasty® System. Financial guidance for 2022 is expected during their upcoming earnings call.
Treace Medical Concepts (Nasdaq: TMCI) announced its participation in the 40th Annual J.P. Morgan Healthcare Conference, scheduled for January 12, 2022, at 4:30 p.m. ET. CEO John T. Treace and CFO Mark L. Hair will present at this prominent event. A live webcast and replay will be accessible on the company's Investor Relations website. Treace specializes in orthopedic medical devices aimed at treating bunions, highlighting their patented Lapiplasty® 3D Bunion Correction™ system and the Adductoplasty™ Midfoot Correction System.
Treace Medical Concepts, Inc. (Nasdaq: TMCI) announced the granting of U.S. Patent No. 11,185,359 for a "Bone Positioning Guide" related to bunion correction surgery. Additionally, the U.S. Patent Office issued a Notice of Allowance for a pending application on similar techniques. These developments enhance Treace's patent portfolio, which now includes over 35 granted patents and 60 pending applications globally. CEO John T. Treace emphasized the importance of these patents in reinforcing the company's commitment to innovation in bunion surgery.
Treace Medical Concepts (Nasdaq: TMCI) has announced participation in the Stifel 2021 Virtual Healthcare Conference on November 15, 2021, at 9:20 am ET. CEO John T. Treace and CFO Mark L. Hair will engage in a fireside chat. The event aims to highlight Treace's advancements in treating hallux valgus (bunions) through their patented Lapiplasty® 3D Bunion Correction™ system and the recently introduced Adductoplasty™ Midfoot Correction System, which addresses complex foot deformities and enhances patient recovery.
Treace Medical Concepts (TMCI) reported Q3 2021 revenue of $21.6 million, marking a 52% increase year-over-year and a 4.7% sequential rise. The gross margin improved to 80.4%, up 80 basis points from the previous year. Key developments included the launch of the Adductoplasty™ System and positive interim data from the ALIGN3D™ clinical study, which showed low recurrence rates post-surgery. Despite pandemic challenges, the firm reaffirms its 2021 revenue guidance of $90 million to $95 million, projecting 57% to 65% growth over 2020.
Treace Medical Concepts (TMCI) announced the granting of U.S. Patent No. 11,147,590 for its bunion surgery method on October 19, 2021, enhancing its patent coverage in bunion correction techniques. This marks the company's 30th U.S. patent, expanding its innovative portfolio initiated in 2014. The new patent complements U.S. Patent No. 10,945,764, granted in March 2021. Treace’s ongoing R&D efforts aim to address patient needs, with over 60 pending patent applications globally, including over 30 in the U.S.
Treace Medical Concepts (TMCI) has announced the release date for its financial results for Q3 2021, scheduled for November 4, 2021, after the trading day ends. A conference call will follow at 4:30 p.m. ET to discuss the financials. Treace, which specializes in orthopaedic devices for bunion treatment, features the patented Lapiplasty® 3D Bunion Correction™ system, aimed at addressing the root causes of bunions and improving patient recovery. An archived webcast of the call will be available on their investor relations website.
Treace Medical Concepts (TMCI) announced the appointments of Betsy Hanna and Deepti Jain to its Board of Directors as of October 1, 2021. With extensive healthcare experience, both aim to guide the company through its growth phase, particularly focusing on the Lapiplasty® system and the new Adductoplasty™ Midfoot Correction System. Chairman James T. Treace expressed confidence in their ability to enhance the board's expertise and drive market penetration.
Treace Medical Concepts (TMCI) has initiated the Mini3D Lapiplasty clinical study, focusing on the Lapiplasty Mini-Incision System for bunion correction. The study aims to evaluate outcomes based on 3D correction with smaller incisions (3.5cm) compared to traditional methods. The primary measure of success will be the recurrence of hallux valgus within 24 months. The study will involve up to 200 patients across 20 centers, building on the previous ALIGN3D study, which has enrolled 173 patients and will conclude in 2023.
Treace Medical Concepts (TMCI) announced positive interim findings from the ALIGN3D™ clinical study on their Lapiplasty® 3D Bunion Correction™ procedure at the 2021 AOFAS Annual Meeting. The study, involving 151 participants, reported an average early weight-bearing return at 8.3 days, significant pain reduction, and a low recurrence rate of only 0.9% at 12 months. Patients also returned to work within 4 weeks and full activity within 4.1 months. Treace continues to strengthen its clinical evidence supporting the Lapiplasty® System, aimed at enhancing bunion surgery outcomes.