SpineGuard Announces Significant Improvement to its Operating Result

PARIS & SAN FRANCISCO–(BUSINESS WIRE)–Regulatory News: SpineGuard (Paris:ALSGD) (FR0011464452 – ALSGD), an innovative company that develops and markets disposable medical devices designed to make spine surgery safer, reported today its preliminary Operating Result and cash position for the full-year of 2017.

Following the publication on January 4, 2018 of its consolidated full-year 2017 revenues of €8.2 million¹, SpineGuard now reports its preliminary and non-audited Operating Result of € -2.5M, an improvement of 31% vs. 2016.

Advertisement

In the second half of 2017, SpineGuard estimates that the operating loss was reduced to €-1.0M vs. €-1.5M in the first half of 2017 (1H17), an improvement of 36%.

The cash position at year end of €1.2M plus the secured convertible bond facility for €2.0M means that the total cash available to the Company is €3.2M.

Stéphane Bette, CEO and co-founder of SpineGuard, said: “We are very pleased with these preliminary results which demonstrate our commitment towards the operating profitability goal for the end of 2018, while continuing to deliver solid growth and to deploy our innovative technology platform.”

These preliminary results are unaudited and are based on management’s initial analysis of operations for the period ended December 31, 2017, and are therefore subject to change. The company expects to announce its full year 2017 financial and operating results on March 14, 2018.

Next financial press release: 2017 annual results on March 14, 2018.

About SpineGuard®
Founded in 2009 in France and the USA by Pierre Jérôme and Stéphane Bette, SpineGuard’s mission is to make spine surgery safer by bringing real-time digital technology into the operating room. Its primary objective is to establish its proprietary DSG™ (Dynamic Surgical Guidance) technology as the global standard of surgical care, starting with safer screw placement in spine surgery and then in other surgeries. PediGuard®, the first device designed using DSG, was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer. It is the world’s first and only handheld device capable of alerting surgeons to potential pedicular or vertebral breaches. Over 60,000 surgical procedures have been performed worldwide with DSG™ enabled devices. Numerous studies published in peer-reviewed medical and scientific journals have demonstrated the multiple benefits that PediGuard® delivers to patients, surgical staff and hospitals. SpineGuard is expanding the scope of its DSG™ platform through strategic partnerships with innovative medical device companies and the development of smart instruments and implants. SpineGuard has offices in San Francisco and Paris. For further information, visit www.spineguard.com.

Disclaimer
The SpineGuard securities may not be offered or sold in the United States as they have not been and will not be registered under the Securities Act or any United States state securities laws, and SpineGuard does not intend to make a public offer of its securities in the United States. This is an announcement and not a prospectus, and the information contained herein does and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in the United States in which such offer, solicitation or sale would be unlawful prior to registration or exemption from registration.

¹ up 10% and 12% at constant exchange rate (cc)