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Here’s why Allegra Orthopaedics’ (ASX:AMT) Shares have Exploded on ASX today

  • December 04, 2020 03:59 PM AEDT
  • Team Kalkine
Here’s why Allegra Orthopaedics’ (ASX:AMT) Shares have Exploded on ASX today

Summary

  • Allegra Orthopaedics announced promising results on its Spinal Cage Device flagship innovation project.
  • The Company was testing the revised Spinal Cage design in an accredited testing facility in the US.
  • With the favourable outcomes, Allegra will now test the new Spinal Cage design in further studies.
Gold MTF non-AMP

The share price of ASX-listed medical device company Allegra Orthopaedics Limited (ASX: AMT) skyrocketed today after the Company announced positive results on its flagship innovation project, Spinal Cage Device. The AMT shares were trading at A$0.460, up by 130% (at AEDT 3:35 PM). The Company has a market capitalisation of A$20.89 million.

About Allegra Orthopaedics

Allegra Orthopaedics is working with the vision to enhance health care standards and improve the quality of life for patients. The Company has utilised its expertise in developing and commercialising medical devices to generate a new products pipeline.

Allegra is currently commercialising Sr-HT-Gahnite bone substitute and has licences the IP from The University of Sydney.

Encouraging results in Sr-HT-Gahnite Spinal Cage Device test

After the successful testing of the Spinal Cage Device, Allegra was testing the revised Spinal cage design in an accredited testing facility in the US. This test was performed to verify the effectiveness of the amended Spinal Cage design.

On 4 December 2020, the Company announced that the findings demonstrate a substantial upturn in strength when compared to the initial design.  More precisely, the compressive strength of the Spinal Cage was found to be 60kN. This is drastically higher than the human physiological load (i.e. 1.2kN) and sheep physiological load (i.e. around 3-4kN).

Besides, it is also twice the compressive strength when compared with the previous cage design and above the 95th percentile for available information on cages approved by the FDA.

These findings are accompanied by increased torsional and shear compressive strengths, including the mechanical integrity of the testing.

Significantly, a similar facility conducted dynamic compressive testing to determine the fatigue life of the Spinal Cage.

The Company stated that it passed the 5 million dynamic cycles required by the regulatory agency with no indications of failure or fracture.

Allegra Progressing with the new Spinal Cage design

With these positive findings, Allegra is now progressing with the new Spinal Cage design. The Company intends to initiate a pilot animal experiment in January 2021 in Australia.

Allegra stated that this would be a confirmatory trial to be followed by a large-scale animal study, according to the requirements of the FDA.

 

 


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