Spine device company K2M received FDA clearance for the CASPIAN Occipital Anchor recently, and company leaders have plans for additional global growth in the future.
In addition to achieving FDA clearance for CASPIAN, the company introduced the SERENGETI Minimally Invasive Retractor System in Japan and the CAYMAN Minimally Invasive Plate System in the United States, Australia and the United Kingdom.
K2M originally entered the Japan market with the MESA Spinal System in 2009. The international CAYMAN launch is also a strategic move for the company. The device received FDA clearance in January. The plate's single-level stackable design allows for one-level and multi-level constructs.
"The CAYMAN Minimally Invasive Plate allows for the application of low-profile anterior instrumentation after placement of the lateral interbody without having to significantly modify the typical minimally invasive approach," said Thomas Reilly, MD, an orthopedic spine surgeon at Indiana Spine Group. "For appropriate patients, this enables use of a stable, standalone lateral construct."
K2M went public earlier this year, and in the first half of July saw a 45.3 percent increase in short interest shares. As of July 30, there were five investment analysts rating the stock as a "buy" and the company's average price target was $20.67. The company will release its next financial report on Aug. 6.