Here are five key points:
1. The expected second quarter revenue is up from the first quarter revenue of $4.7 million.
2. Cash and cash equivalents are about $12.4 million.
3. Net cash used in operating activities from the first half of the year decreased by about $3 million.
4. These expected financial results may change after quarter-end closing adjustments.
5. The FDA asked that Amedica provide 24-month clinical performance data for its Valeo C Interbody with CsC Osteo-Conducting Scaffolding before it will be cleared. Amedica hopes to receive a final response from the FDA in late fourth quarter 2015 or early first quarter 2016.
“I am very pleased with our improved financial discipline this quarter and the progress we’ve made with potential private label and OEM partners,” said Sonny Bal, MD, JD, MBA, chairman and CEO of Amedica.
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