Press release
SI-BONE, Inc. Provides Business Update in Response to COVID-19 Pandemic
SANTA CLARA, Calif., April 02, 2020 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (Nasdaq:SIBN), a medical device company dedicated to solving musculoskeletal disorders
About this update from Si-bone, Inc.
[{"type":"text","content":"SANTA CLARA, Calif., April 02, 2020 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (Nasdaq:SIBN), a medical device company dedicated to solving musculoskeletal disorders of the sacropelvic anatomy, today provided an update on the actions it is taking to support patients, customers, and employees while maintaining business continuity in response to the coronavirus (COVID-19) pandemic.\n Protecting Employees and Others: To reduce the risk to SI-BONE employees and their families from potential exposure to COVID-19, all employees in the Santa Clara office and in other office locations have been required to work from home, with the exception of those related to manufacturing order fulfillment and select others, based on local restrictions and guidance. SI-BONE has also restricted non-essential business travel, and urged employees to restrict personal travel, to protect the health and safety of its employees, patients and customers.Continuing Operations and Clinical Support: Consistent with applicable exceptions, SI-BONE is maintaining streamlined assembly, distribution and other related processes in order to continue providing products to its customers. Specific protocols have been designed and implemented in order to minimize contact time among employees working on site. Where healthcare operations have been impacted, the sales team is supporting healthcare providers via telephone and online technologies, until conditions permit resumption of healthcare operations.Curtailing Operating Expenses: Until the Company has more clarity on the extent and duration of the impact from COVID-19, SI-BONE has taken pre-emptive steps to curtail spending, including implementing hiring restrictions, eliminating discretionary spending, reducing executive salaries, reducing capital expenditures, reducing non-essential marketing expenses, and delaying clinical research projects.Expanding Product Utility: On March 31, the Company received FDA 510(k) clearance for an expanded indication for the iFuse Implant System to support the Company’s trauma program. The new indication applies to acute, non-acute, and non-traumatic fractures involving the sacroiliac joint. The Company will be launching its trauma marketing initiative in the United States in Q2 2020. \"Our immediate priority amidst this pandemic is the health and safety of our employees, customers and patients, s...