Amedica Corporation (NASDAQ: AMDA) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it has received positive news from the FDA. Of course, this is leading to excitement among investors and sending the stock screaming for the top. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for with regard to AMDA ahead.
AMDA Gains Big On FDA Clearance
As mentioned above, Amedica is having an overwhelmingly strong start to the trading session this morning after announcing news that it’s received from the FDA. In a press release issued early this morning, the company announced that the United States Food and Drug Administration has cleared the company’s Valeo C-CsC with Lumen Interbody Fusion Device.
In the release, AMDA said that the C+CSC with Lumen Interbody Fusion Device is a composite spinal fusion implant. This implant combines different densities of the company’s proprietary medical grade silicon nitride ceramic. In a statement, Dr. Sonny Bal, Chairman and CEO at AMDA, had the following to offer:
This FDA clearance of CsC is a significant milestone for Amedica. CsC reflects a truly unique technology. In addition to being the first structural porous bioceramic available in a medical implant, our published clinical data from the CASCADE clinical trial have shown that CsC can achieve spinal fusion sua sponte, i.e., in the absence of added bone grafts, and with success rates at least as favorable as bone autograft, i.e., the gold standard in bone fusion. The European device design was submitted earlier to the FDA, and the approved version is a design modification of the same material, based on feedback provided by the FDA.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive. After all, FDA clearance means that Amedica is now legally able to commercialize its CsC compound in the United States. So, it comes as no surprise to see such strong movement in the value of the stock today. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:46), AMDA is trading at $2.58 per share after a gain of $0.58 per share or 29% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AMDA. In particular, we’re interested in following the story surrounding the commercialization of the company’s CsC product following this positive news of FDA approval. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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