Written by: Cheryl Farmer
On Friday, May 27th, 2016, the Lattice Biologics team enjoyed the opportunity to share the highlights of the past quarter, compare recent results with prior quarters, and review future plans and business outlook during its Q2 2016 Results Conference Call held on the heels of the release of the Company’s Q2 Financials.
Release of Q2 2016 Financials: Last night we announced company sales of $1.01 million for the second quarter. We are delighted to have maintained our existing sales while expending significant resources and management time on the critical tasks of taking the Company public, pursuing strategic acquisitions, recruiting new distributors, launching two new high-margin products in 2015, recruiting new surgeons to our Scientific Advisory Board, hiring new sales and research staff, and further developing our cutting-edge intellectual property.
I am beyond thrilled by the hard work and cooperation demonstrated by our team of dedicated employees and surgeons as the company prepares for the significant undertaking of launching several new products into the market. On April 23 of this year, we announced three new products expected to launch in 2016: a demineralized cortical fiber product (MarGraft), an amnion-based line of products (MarBrane), and our viable cell allograft tissue product (MarCell). We anticipate the first commercial sales of the cortical fiber product and amnion products in June 2016 and expect them to contribute significantly to top line growth. We currently plan to launch the MarCell product at North American Spine Society’s 32nd Annual NASS Meeting in late October this year.
Current & Future Technology: Currently, Lattice Biologics offers a full catalogue of biologic products for use by orthopedic, plastic, and neuro surgeons. We emphasize our proprietary and differentiated products which utilize our patent-pending Matrix Assisted Regeneration (MAR) processing technology. Our Company boasts a robust product pipeline led by our in-house research team, Dr.’s Bradley and Zakharova. We are also expanding our R&D team with a new masters-level research associate starting in July.