Amedica Corporation (NASDAQ: AMDA) is having an overwhelmingly strong day in the market today, gaining in multiples after providing a clinical update. Of course, the update was positive, leading to excitement among investors. Today, we’ll talk about:
- The update;
- what we’re seeing from AMDA; and
- what we’ll be watching for ahead.
AMDA Heads For The Top On Clinical Update
As mentioned above, Amedica is having an incredibly strong day in the market today after announcing a clinical update. In a press release issued early this morning, the company provided an update on all of its clinical study activities. Here’s what we saw from the update:
Single Center Retrospective Comparative Study – This particular study is a clinical study that compares silicon nitrate spinal implants to allograft spacers in cervical fusion. The treatment has shown faster and more effective outcomes with silicon nitrate. In the release, AMDA said that the findings of the study have been submitted for release at the December 2018 Cervical Spine Research Society meeting. In a statement, Dr. Micah Smith, Orthopedic Surgeon in Fort Wayne, Indiana, and principal investigator of this study had the following update to provide:
While silicon nitride might have been expected to perform better in light of its properties, the surprising finding in our study was how good the outcomes with silicon nitride proved to be. Significantly earlier and more effective bone fusion was observed with silicon nitride than allograft spacers at 3- 6-, and 12-month time points after surgery, all the way to 24 months.
Multi-Center Retrospective Study – AMDA also said that it has reported the completion of a retrospective survey of over 2,000 silicon nitride spinal implants implanted in more than 1,000 patients over the past 8 years. The ultimate goal of the study was to get a full understanding of the clinical outcomes from silicon nitride implants in spinal fusion from different clinics in the United States. Dr. Sonny Bal, President at Amedica, had the following to say about the data compiled through this survey:
Preliminary data analysis toward publication of this study is very encouraging in this large cohort of patients derived from our long-term surgeon users. Not only are the data consistent with our other clinical studies, but the outcomes corroborate our basic science understanding of the surface chemistry of the material, the key strength of silicon nitride.
Silicon Nitride Against PEEK (SNAP) – SNAP is a 24-month, double-blinded, multicenter, randomized, controlled human trial. The trial compares intervertebral cages from either silicon nitride or polyetheretherketone (PEEK). In the release, the company said that the study has been completed. Preliminary data at 3, 6, and 12-months confirm the study’s hypothesis of silicon nitride’s non-inferiority according to the company. In the release, the company said that additional detailed analyses are currently being conducted, and it hopes to publish overall results in a prominent scientific journal later this year.
Goat Study – Finally, the Goat Study is an interbody fusion study using a goat as a model. The company compared silicon nitride to PEEK. In the release, AMDA said that the data was just accepted for publication in the Journal of Biomedical Materials Research, Part B – Applied Biomaterials. The company said that the results of the study showed improved fusion and greater bone volume using silicon nitride implants compared to PEEK at the study’s six-month endpoint.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. In this particular case, the news proved to be overwhelmingly positive. The company provided updates with regard to its current clinical studies, and all of the updates proved to be overwhelmingly positive. So, it’s no surprise that excited investors are sending the stock on a run for the top this morning. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:30), AMDA is trading at $2.67 per share after a gain of $1.56 per share (140.54%) 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 company’s ongoing clinical efforts, as the news provided today shows some serious promise. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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