Amedica Corporation (NASDAQ:AMDA) shares have taken a hit today for what appears to be no apparent reason. The stock, which has traded between $0.09 and $1.12 in the past 52 weeks, has fallen significantly today without any negative news of any sort. Back on November 16th, the company released their Quarterly Report (10-q), which subsequently seemed to cause the stock to trade higher.
In that report we learned that cash and cash equivalents fell from 18.2 million to approximately 11.3 million between December 31, 2014 and September 30, 2015, while the company’s assets fell from 33.7 million to 24.5 million. The stock is down 7.88% or $0.012 today, hitting $0.139 per share. About 11.16M shares traded hands or 86.31% up from the average. AMDA has declined 46.07% since April 23, 2015 and is downtrending. It has underperformed by 44.95% the S&P500.
Amedica Corporation is a commercial biomaterial company. The company has a market cap of $18.30 million. The Firm is a vertically integrated silicon nitride orthopedic medical device maker focused on using its silicon nitride technology platform to develop, manufacture and sell a range of medical devices. It currently has negative earnings. The Firm markets spinal fusion products and are developing products for use in total hip and knee joint replacements.