Join our daily newsletter At The Bell to receive exclusive market insights
- Medical company Allegra Orthopaedics’ (AMT) shares doubled after announcing successful testing results for its spinal cage device
- Testing of the flagship innovation product, the Sr–HT–Gahnite Spinal Cage, has yielded a significant improvement in strength compared to the previous design
- Compressive strength of the spinal cage is 60 kilonewtons (kN), double that of the company’s previous cage design
- Allegra is progressing with the new spinal cage design and plans to commence a pilot animal study in January 2021
- Shares are up a stellar 100 per cent, trading at 40 cents each this afternoon
Medical company Allegra Orthopaedics’ (AMT) shares doubled after announcing successful testing results on its spinal cage device.
The results yielded a significant improvement in strength compared to the previous design and above the 95th percentile for published data on Food and Drug Administration (FDA) approved cages.
Compressive strength of the spinal cage is 60 kilonewtons (kN) double that of the company’s previous cage design. In comparison, the human physiological load is 1.2 kN and sheep physiological load is three to four kN.
Testing on the flagship innovation product, the Sr–HT–Gahnite Spinal Cage, was completed at an accredited facility in the U.S.
Dynamic compressive testing was completed at the same facility to determine the fatigue life of the spinal cage. Allegro reports it passed the regulation five million dynamic cycles without any signs of fracture or failure.
The results are complemented by improved torsional and shear compressive strengths, as well as the mechanical integrity of the cage demonstrated in sheep cadaveric testing.
Allegra is progressing with the new spinal cage design and plans to commence a confirmatory pilot animal study in January 2021. This will be followed by a large
animal study, as per FDA requirements.
Shares in Allegra closed up 100 per cent at 40 cents each.
