SeaSpine reported preliminary financial results for the second quarter of 2017.
Here are six highlights:
1. SeaSpine predicts revenue to hit between $34 million and $34.2 million for the second quarter of 2017, reflecting a 3 percent increase over the same period the year prior.
2. The company's spinal instrumentation revenue will likely be $16.6 million for the second quarter of 2016 and the orthobiologics revenue will likely be around $17.6 million.
3. U.S. revenue will likely see a 1 percent boost over the second quarter of 2017 to $30.4 million.
4. U.S. spinal instrumentation revenue will decrease about 5 percent and orthobiologics revenue will likely increase 7.5 percent over the second quarter of 2017.
5. SeaSpine's cash and cash equivalents will likely be around $12.3 million.
6. The company saw $4.6 million in net proceed in the second quarter of 2017, via the sale of about 477,000 shares of its common stock.