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Classified in: Health, Science and technology, Business, Covid-19 virus

Aurora Spine Corporation Files Condensed Consolidated Financial Statements for the Three Months Ended March 31, 2020


CARLSBAD, Calif., July 09, 2020 (GLOBE NEWSWIRE) -- Aurora Spine Corporation ("Aurora Spine" or the "Company") (TSXV: ASG) announces financial results for the First Quarter 2020, ended March 31, 2020.  All figures are in U.S. dollars.

To our Shareholders:

Q1 2020 started strongly for the Company based on several financial metrics and reflects significant research and development efforts.  However, it was affected significantly by COVID-19 due to the suspension of elective surgeries in the United States in March 2020.  In late May 2020, some hospitals reopened elective surgeries.

Highlights from Q1 2020

In the First Quarter of 2020, we continued driving growth by training surgeons and distributors on Aurora Spine's technology and increasing the reach of our sales force.

We have added some outstanding surgeons to our customer base that value our products and wish to be a part of our success. We continue to review our new product development within the framework of financial responsibility to achieve our long-term growth and profitability objectives while reacting to, and recovering from the disruption caused by the COVID-19 pandemic.

We remain fully committed to developing our U.S. sales through engaging new and existing distributors and improving our direct relationship experience with our surgeons. This should allow us to generate increased sales and provide improved customer service going forward.

Management and I thank our shareholders for their continued support in these endeavors.    

None of this would be possible without the dedication and commitment of our hardworking colleagues at Aurora. I want to thank them for the great accomplishments they have made this year, for Aurora and ultimately, for patients. They have embraced change and risen to the numerous challenges before them, and I am grateful for their ongoing support of our company and our mission.

I would also like to thank you, our investors, for your continued support. Together, we have built a strong foundation, and I look forward to the opportunities ahead of us. I am truly grateful to be part of an organization that makes such a positive improvement in the lives of patients around the world.

The Financial Statements together with the Management Discussion and Analysis can be found on SEDAR at www.sedar.com.

Trent J. Northcutt
President and Chief Executive Officer

About Aurora Spine
Aurora Spine is focused on bringing new solutions to the spinal implant market through a series of innovative, minimally invasive, regenerative spinal implant technologies.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact:

Aurora Spine Corporation
Trent J. Northcutt
President and Chief Executive Officer
(760) 424-2004
                   Chad Clouse
Chief Financial Officer
(760) 424-2004

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