Welcome to our dedicated page for Treace Medical Concepts news (Ticker: TMCI), a resource for investors and traders seeking the latest updates and insights on Treace Medical Concepts stock.
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, Inc. (NASDAQ: TMCI) and Fusion Orthopedics, LLC have resolved their litigation concerning patent and trademark infringement. The lawsuit was initiated on March 29, 2022, when Treace Medical accused Fusion Orthopedics of infringing on its patents related to their respective bunion surgery products. Fusion Orthopedics countered with claims of non-infringement and invalidity. In March 2023, the parties reached a confidential settlement agreement, with Fusion Orthopedics expressing satisfaction with the outcome.
Treace Medical Concepts (NasdaqGS: TMCI) will announce its fourth quarter and full year 2022 financial results on March 7, 2023, following the market close. A conference call will take place at 4:30 pm ET to discuss these results. Treace focuses on surgical treatments for hallux valgus (bunions) through its proprietary Lapiplasty® 3D Bunion Correction™ Procedure. Approximately 65 million Americans are affected by bunions, with an estimated 1.1 million being surgical candidates annually. The company aims to improve surgical management standards for bunion deformities.
Treace Medical Concepts (NasdaqGS: TMCI) announced the latest interim clinical data from its ALIGN3D™ study during the 2023 ACFAS Annual Conference. The study analyzed 128 patients, revealing a remarkable 99.1% maintenance of bunion correction at 24 months and only a 0.9% recurrence rate. Patients experienced an average return to weight-bearing in just 8.1 days, with an 80.8% reduction in pain at 24 months. High satisfaction rates were reported, with 97.3% of patients satisfied at 36 months. Treace also showcased innovations like the Micro-Lapiplasty™ and SpeedPlate™ systems, set for commercialization later this year.
Treace Medical Concepts (NasdaqGS: TMCI) announced a public offering of 4,761,905 shares of its common stock at $21.00 per share, aiming to raise approximately $100 million in gross proceeds before commissions. The offering is set to close on February 10, 2023, pending customary conditions. All shares are offered by Treace with no involvement from selling stockholders. Additionally, underwriters have a 30-day option to purchase 714,285 additional shares. The funds will be utilized for general corporate purposes, including R&D and marketing. J.P. Morgan and Morgan Stanley are among the lead managers for the offering.
Treace Medical Concepts, Inc. (NasdaqGS: TMCI) has launched an underwritten public offering of $100 million in common stock, with an option for underwriters to purchase an additional $15 million. The funds raised will be allocated towards general corporate purposes, including research and development, sales and marketing, and capital expenditures. The offering, subject to market conditions, is backed by J.P. Morgan and Morgan Stanley as lead managers. Treace specializes in surgical treatments for bunions, with its patented Lapiplasty® 3D Bunion Correction™ procedure. The company aims to improve care standards for bunion surgery, addressing a significant patient population in the U.S.
Treace Medical Concepts (TMCI) announced preliminary unaudited results for Q4 and FY 2022, forecasting revenues between $49.1 million to $49.6 million for Q4 and $141.2 million to $141.7 million for the full year, marking a 50% growth year-over-year. This growth is attributed to strategic investments in direct sales and R&D. Treace is focused on advancing care standards for bunions and midfoot deformities through its Lapiplasty and Adductoplasty systems. The company plans to provide 2023 financial guidance in its upcoming earnings call.
PONTE VEDRA, Fla., Dec. 20, 2022 - Treace Medical Concepts, Inc. (NasdaqGS: TMCI) announces that CEO John T. Treace and CFO Mark L. Hair will present at the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, at 10:30 a.m. ET. Treace, a leader in bunion treatment, aims to shift surgical practices with its patented Lapiplasty® 3D Bunion Correction™ Procedure, addressing the needs of the estimated 1.1 million surgical candidates annually in the U.S. A live webcast of the presentation will be available on the company’s investor relations website.
Treace Medical Concepts (TMCI) announced the grant of U.S. Patent Nos. 11,497,528 and 11,523,845 by the United States Patent and Trademark Office. These patents enhance the company's portfolio on bunion surgery techniques related to its Lapiplasty® 3D Bunion Correction™ system. With a total of 50 granted patents globally, including 40 in the US, Treace Medical continues to protect its innovations. CEO John T. Treace highlighted that these patents enable advancements in bunion patient care and support ongoing investments in innovative solutions.
Treace Medical Concepts, Inc. (NasdaqGS: TMCI) has received FDA 510(k) clearance for its SpeedPlate™ Rapid Compression Implant System, enabling its use in fracture fixation, osteotomy fixation, and joint arthrodesis of the foot and ankle. This innovative system, designed for rapid delivery of titanium compression implants, enhances the minimally invasive Micro-Lapiplasty® procedure. Anticipated limited release of SpeedPlate™ implants is set for the first half of 2023, with broader access planned for the second half. Treace aims to improve surgical outcomes for bunion patients.
Treace Medical Concepts (TMCI) reported third-quarter 2022 revenue of $33.1 million, marking a 53% increase year-over-year. The gross margin stood at 80.0%, with a gross profit of $26.4 million. Direct sales contributed 74% of total revenue, significantly up from 53% in Q3 2021. Despite this, the net loss increased to ($12.1 million), or ($0.22) per share, compared to ($6.4 million) a year earlier. Treace raised its 2022 revenue guidance to $135 million to $138 million, reflecting 43% to 46% growth over 2021.