SeaSpine SPNE shares are trading lower after the company announced due to uncertainties surrounding COVID-19, the company is unable to confirm its prior revenue guidance for the fourth quarter and full-year 2021 at this time.
"Throughout the third quarter of 2021, and most acutely starting in August, spine surgery procedure volumes were negatively impacted in many areas of the United States, including in Florida and Texas, where SeaSpine derives a meaningful portion of its revenue, due to cancellations and/or postponements of procedures as a result of the increased cases and transmissibility of COVID-19 and because hospitals and other surgical centers were experiencing staffing shortages," said SeaSpine in a SEC filing.
SeaSpine Holdings Corp is a medical technology company. It focuses on the design, development, and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders.
At last check, SeaSpine was trading 7.04% lower at $15.19 per share.
The stock has a 52-week high of $22.97 and a 52-week low of $12.43.
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