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SALT LAKE CITY - SINTX Technologies, Inc. (NASDAQ: SINT), a micro-cap company with a market value of $3.87 million specializing in advanced ceramics, has announced the publication of a peer-reviewed study emphasizing the biomechanical benefits of silicon nitride in spine surgery. The company maintains strong operational efficiency with a gross profit margin of 66.06%. The research, conducted by SRM Institute of Science and Technology in collaboration with SINTX, applied finite element analysis to compare various cage designs and materials for anterior cervical discectomy and fusion (ACDF) procedures.
The study found that silicon nitride outperforms traditional spinal implant materials like PEEK and titanium in several key areas. Notably, it demonstrated a reduced risk of implant subsidence, improved biomechanical stability, and superior osseointegration. Additionally, silicon nitride’s radiolucency offers better post-surgical imaging and fewer artifacts in MRI and CT scans compared to metal implants.
Eric Olson, CEO of SINTX Technologies, noted that the findings provide further evidence of silicon nitride’s biomechanical and clinical advantages for spinal fusion applications. The company views this as a transformative solution for enhancing patient outcomes and reducing surgical complications.
With the global spinal fusion market expected to exceed $10 billion annually, the integration of silicon nitride into commercial spinal implant systems could present a significant opportunity for SINTX. According to InvestingPro data, while the company achieved 30.4% revenue growth in the last twelve months, it faces challenges with cash burn and profitability. The company is actively pursuing strategic partnerships to promote the adoption of its silicon nitride-based medical devices.
SINTX Technologies, headquartered in Salt Lake City, Utah, has been a leader in the development and commercialization of silicon nitride for medical applications, with products implanted in humans since 2008. The company continues to leverage strategic acquisitions and alliances to expand into new markets.
This announcement is based on a press release statement and contains forward-looking statements subject to risks and uncertainties. Factors that could affect the company’s actual results and financial condition include challenges in commercializing ceramic technologies and developing new product opportunities. InvestingPro analysis suggests SINTX is currently undervalued, with 12 additional ProTips available for subscribers. The company maintains healthy liquidity with a current ratio of 3.04. For further details, refer to SINTX’s SEC filings, including its Annual Report on Form 10-K filed on March 27, 2024, with the next earnings report expected on March 27, 2025.
In other recent news, Sintx Technologies has completed a private placement, raising approximately $5 million in gross proceeds. The capital is intended for working capital purposes, as confirmed by H.C. Wainwright & Co., the exclusive placement agent for the transaction. Additionally, the company has announced a leadership change, with Eric Olson stepping in as the new Chairman of the Board, succeeding Dr. Sonny Bal, who will remain as a board member. This leadership transition aligns with Sintx Technologies’ ongoing focus on strategic growth within the medical device sector.
Further developments include the election of Mark Froimson, MD, as a Class I director for a three-year term, following a recent stockholders meeting. The meeting also resulted in the approval of several key proposals, including the appointment of Tanner LLC as the independent registered public accounting firm for the year ending December 31, 2024. An amendment to the 2020 Equity Incentive Plan was passed, increasing the authorized number of shares issuable under the plan. These developments reflect the company’s strategic direction and governance, as Sintx Technologies continues to engage its shareholders in key decisions.
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