SINTX Technologies Inc. (SINT) stock prices were up by 4.84% as of the market closing on September 22nd 2021. This brought the price per share up to USD$1.30 at the end of the trading day. Subsequent premarket fluctuations have seen the stock rise by 5.38%, bringing it up to USD$1.37.
SINT Stock Receives Grant
September 22nd 2021 saw SINT stock announce a Phase 1 grant of USD$308,301 awarded to it by the NIH. The grant from the National Institute of Health is meant to facilitate the development of a 3D printed, composite silicon nitride – SN-PEEK spinal implant. The U.S government funded research grant is designed to address the antibacterial and osseointegrative properties of silicon nitride. This marks the first NIH grant that SINT has been awarded by the NIH.
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Scope of Spinal Implant Market
The global spine market has been valued at USD$10 billion, with PEEK-based spinal implants accounting for roughly 40% of spine implants. The treatment is favored on account of its established safety and usability profile. SINT stock aims to capitalize on the benefits of PEEK as it develops 3D printed SN-PEEK implants. Concurrently, the company will consolidate the benefits of PRRK by adding the antibacterial and osteoconductive characteristics of silicon nitride. This process will make use of modern and cost effective 3D printing technologies.
Sint Stock’s Collaborations
SINT stock is collaborating with Drexel University, Thomas Jefferson University, and the University of Pennsulvania School of Veterinary Medicine. The partnership will span 9 to 11 months and will aim to design a 3D printed SN-PEEK composite spinal implant. This implant will meet the static loading requirements of the American Society of Testing and Materials (ASTM). It will also characterize its antibacterial activity, as well as consolidate its effect on osteoblast proliferation and maturation.
Building on Success
The National Institute of Health’s grant will support resourcing and the acquisition of materials. It will also facilitate testing and trials at SINT stock and its collaborative universities. After the successful execution of the Phase 1 grant application goals, the company will be situated to see a Phase 2 award.
Future Outlook for SINT Stock
The company reported a promising quarter, as evidenced by the granted of NIH’s Phase 1 grant. SINT stock is keen to capitalize on the opportunities presented by the burgeoning spinal implant market. Current and potential investors are hopeful that management will spearhead the accelerated development and proliferation of its technology. This is hoped to usher in consistent and organic growth over the long term.