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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) 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.
Treace Medical Concepts (TMCI) has launched the Adductoplasty™ System, a comprehensive approach for midfoot deformity correction in bunion patients. This system combines implants and precision instruments to ensure consistent realignment and stabilization of the midfoot, which affects up to 30% of hallux valgus cases. CEO John T. Treace highlighted the system's potential to enhance treatment for patients with combined bunion and midfoot issues, addressing a market gap in surgical solutions.
Treace Medical Concepts (TMCI) announced that CEO John T. Treace and CFO Mark Hair will join a virtual fireside chat at the Morgan Stanley 19th Annual Global Healthcare Conference on September 14, 2021, at approximately 4:15 PM ET. This discussion will focus on the company’s innovative Lapiplasty® 3D Bunion Correction™ procedure, designed to improve surgical treatment for bunions. A live webcast and replay will be available on the company's investor relations website.
Treace Medical Concepts (Nasdaq: TMCI), a pioneering orthopaedic medical device company, announced new data will be presented at the 2021 AOFAS Annual Meeting on September 22-25. The presentation will feature an interim analysis from the ALIGN3D™ clinical study, which evaluates the Lapiplasty® 3D Bunion Correction™ procedure. Lead author Dr. Dane Wukich will discuss outcomes from this multicenter study, focusing on patient recovery and radiographic results. The study aims to confirm effective bunion correction over a 24-month follow-up with 173 enrolled patients.
Treace Medical Concepts (TMCI) reported Q2 2021 revenue of $20.7 million, marking a 167% increase compared to Q2 2020. The gross margin improved to 80.9%, up 780 basis points year-over-year. The rise in revenue is attributed to more Lapiplasty® procedure kits sold and a growing customer base. Despite higher revenues, the net loss for the quarter increased to ($5.1 million), or ($0.10) per share, compared to ($2.1 million), or ($0.06) per share last year. The company anticipates full-year revenue between $90 million and $95 million, reflecting a growth of 57% to 65%.
Treace Medical Concepts (NasdaqGS: TMCI) will announce its second quarter 2021 financial results on August 5, 2021, after the market closes. A conference call led by management will commence at 4:30 p.m. ET to discuss the results. The company is known for its Lapiplasty® 3D Bunion Correction™ system, which addresses bunion deformities. Investors can join the call by dialing (888) 708-0264 or (720) 405-2122 for international access. The call will also be webcasted live and archived on their investor relations website.
Treace Medical Concepts (TMCI) reported significant first-quarter 2021 financial results, achieving $18.7 million in revenue, a 66.2% increase from last year. Gross margin improved to 82.2%, up 340 basis points year-over-year, driven by higher sales of the Lapiplasty Procedure Kits. Despite a net loss of $2.6 million or ($0.07) per share, the company anticipates a full-year revenue range of $87 million to $92 million, indicating 52% to 60% growth from fiscal 2020. Cash and equivalents stood at $16.2 million as of March 31, 2021, excluding IPO proceeds.