Following its partnership with Shandong Weigao Orthopedic Device Company in China, Amedica's shares gained 23.93 percent on April 18, according to a Wall Street 24 report.
Here are three points:
1. On April 18, the company's share volume reached 11.11 million shares.
2. Under the partnership, Weigao Orthopedic will have exclusive marketing and distribution rights for the Amedica brand silicon nitride spinal implants in China.
3. Weigao Orthopedic will abide by the minimum purchase requirements for the implants during the first year of the agreement, which is 20,000 units. However, the company expects to grow its purchases to 50,000 units by the sixth year.