The drop was driven by a 73.9 percent decrease in domestic sales to $3.7 million during the fourth quarter of 2011. However, the company recently received approval for its new Category I CPT code for the L5/S1 spinal fusion using the AxiaLIF implant when performing a pre-sacral interbody fusion. The CPT Editorial Panel also voted to establish a new Category III CPT code as an add-on for surgeons performing L4/L5 spinal fusions. The new codes will be effective Jan. 1, 2013.

During the fourth quarter, the company reported 310 TranS1 procedures performed globally. For the full year, TranS1 reported $19 million in revenue, a $7 million decrease from 2010.

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