Alphatec Spine Loses $14.5M in Q3 After PurGen Device Discontinuation

Written by Heather Linder | November 08, 2013 | Print  | Email

Alphatec Spine reported a $14.5 million loss in the third quarter, a 487 percent increase from the $2.5 million loss during the same period last year.

The company's operating loss increased by $11.2 million compared to 2012. The loss corresponds with the company's decision to discontinue the PurGen Osteoprogenitor Cell Allograft from its product portfolio after a significant investment in clinical trials.

Gross profit dropped 18 percent to $24.2 million, though its revenue increased 7 percent to $50 million.

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