Core Insights - SINTX Technologies, Inc. has appointed Gregg R. Honigblum as Chief Strategy Officer to lead corporate strategy and growth initiatives [2][5] - Honigblum has over 35 years of experience in the healthcare sector, including investment banking and executive roles in emerging growth companies [3][4] - His previous successes include raising over $500 million for various ventures and being instrumental in early-stage investments in notable companies like Myriad Genetics and Acacia Biosciences [4] Company Overview - SINTX Technologies specializes in advanced ceramics for medical and technical applications, particularly in the development and commercialization of silicon nitride [6] - The company has been a leader in research, development, and manufacturing since 2008, with facilities in Utah and Maryland [6] - SINTX has utilized strategic acquisitions and alliances to expand into new markets [6]

Core Viewpoint - SINTX Technologies has announced a stock repurchase program to buy back up to $500,000 of its outstanding common stock, representing approximately 20% of total outstanding shares, reflecting the company's confidence in its strategic direction and commitment to enhancing shareholder value [1][2][3] Strategic Rationale - The stock repurchase initiative aligns with SINTX's focus on optimizing its capital structure and aims to increase the ownership stake of remaining shareholders while enhancing earnings per share [2] - The company views share repurchase programs as an effective method to return capital to shareholders, similar to actions taken by other industry leaders [2] Management Commentary - The CEO of SINTX Technologies expressed belief that the current market undervalues the company's potential, emphasizing that the repurchase program demonstrates confidence in the company's strategic initiatives and commitment to shareholder value [3] Program Details - The stock repurchase program will be managed by Maxim Group, LLC, and does not obligate the company to acquire a specific amount of shares, allowing for flexibility based on market conditions and capital needs [4] - Share repurchases may be conducted through various methods, including open market purchases and accelerated share repurchase transactions [4] Company Overview - SINTX Technologies specializes in advanced ceramics for medical and technical applications, being a global leader in silicon nitride research and manufacturing, with products implanted in humans since 2008 [5] - The company has expanded into new markets through strategic acquisitions and alliances, with manufacturing and R&D facilities located in Utah and Maryland [5]

Core Insights - SINTX Technologies is realigning its resources to focus on high-impact, sustainable markets in the medical device industry, leveraging its advanced materials for innovations in spinal fusion devices, orthopedic implants, and surgical tools [2][3] - The company reported an 18% increase in revenue in Q3 2024 compared to the same quarter last year, driven by heightened demand for its high-tech ceramics [5] - SINTX closed Q3 2024 with $4.8 million in cash, an increase from $3.3 million at year-end 2023, supported by strategic offerings that raised $9.4 million year-to-date [4] Strategic Initiatives - The company has ceased operations of its armor division, incurring a one-time impairment charge of $4.5 million, to reallocate resources towards the medical device market [3] - SINTX is actively pursuing partnerships and collaborations with healthcare institutions and industry leaders to enhance its product offerings [2] - The company is exploring new collaborations with strategic advisory partners to evaluate potential mergers, acquisitions, and business division sales to strengthen its position in the medical device sector [6] Financial Performance - SINTX achieved a total revenue increase of 18% in Q3 2024 compared to the same quarter last year, reflecting strong demand for its products [5] - The company improved its liquidity position, closing the quarter with $4.8 million in cash, up from $3.3 million at the end of 2023 [4]

Revenue Performance - For the three months ended September 30, 2024, total product revenue increased by $0.2 million, or 118%, compared to the same period in 2023[108]. - For the nine months ended September 30, 2024, total product revenue increased by $0.4 million, or 64%, compared to the same period in 2023[109]. - Grant and contract revenue decreased by $0.1 million, or 15%, for the three months ended September 30, 2024, compared to the same period in 2023[108]. Profit and Loss - Gross profit for the three months ended September 30, 2024, increased by $0.3 million, or 5%, compared to the same period in 2023[106]. - Net loss for the three months ended September 30, 2024, was $6.2 million, compared to a net loss of $3.2 million for the same period in 2023, representing a 96% increase in loss[107]. - For the nine months ended September 30, 2024, the company incurred a net loss of $9.3 million, compared to a net loss of $5.9 million for the same period in 2023, reflecting an increase in losses of approximately 57.6%[121]. Expenses - Research and development expenses decreased by $1.7 million, or 68%, for the three months ended September 30, 2024, compared to the same period in 2023[112]. - General and administrative expenses decreased by $0.2 million, or 19%, for the three months ended September 30, 2024, compared to the same period in 2023[113]. - Sales and marketing expenses decreased by $0.2 million, or 66%, for the three months ended September 30, 2024, compared to the same period in 2023[115]. - Total operating expenses increased by $2.8 million, or 68%, for the three months ended September 30, 2024, compared to the same period in 2023[107]. - Armor exit costs increased by $4.5 million, or 100%, for the three months ended September 30, 2024, compared to the same period in 2023[116]. Cash Flow - Cash used in operating activities decreased to $7.5 million for the nine months ended September 30, 2024, from $11.0 million in the same period of 2023, a reduction of $3.5 million or 31.8%[140]. - Other income decreased by $1.7 million, or 36%, for the nine months ended September 30, 2024, primarily due to a decrease in the fair value of derivative liabilities[120]. Capital and Financing - The company raised approximately $12.0 million from a public offering on February 10, 2023, and $4.0 million from another public offering on February 2, 2024[123][124]. - The company has an accumulated deficit of $280.0 million as of September 30, 2024, compared to $270.7 million as of December 31, 2023[121]. - The workforce was reduced from 40 to 23 employees, resulting in expenses of approximately $407,000 during the three months ended September 30, 2024[135]. - TA&T entered into a Business Loan of approximately $350,000 at an interest rate of 3.75% per annum, which was paid in full during Q1 2023[143]. - Personal Loans totaling approximately $350,000 were repaid in full during Q3 2024, with payments structured in 24 equal monthly installments[144]. - As of September 30, 2024, the Wells Fargo line of credit had no outstanding balance and the account was closed[145]. - A Premium Finance Arrangement for Director and Officer insurance was established, financing approximately $239,000, with an outstanding balance of $70,000 as of September 30, 2024[145]. - Another Premium Finance Arrangement for commercial liability insurance financed approximately $117,000, with an outstanding balance of $64,000 as of September 30, 2024[146]. Strategic Outlook - The company anticipates requiring substantial future capital to continue operations and fund research and development activities[121]. - The company is exploring strategic transactions, including acquisitions and partnerships, to enhance its business focus[130]. - The company is evaluating a shift towards advancements in the medical device sector, leveraging expertise in advanced ceramics and biomaterials[131]. Accounting and Compliance - There are no off-balance sheet arrangements as defined in Item 303(a)(4) of Regulation S-K[147]. - Significant accounting policies and estimates have not materially changed for the nine months ended September 30, 2024[148]. - The company is currently evaluating new accounting pronouncements as discussed in Note 1 of the Quarterly Report[149].

Salt Lake City, Utah, Oct. 01, 2024 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (NASDAQ: SINT) ("SINTX" or the "Company") an advanced materials company specializing in ceramics for biomedical, aerospace, and industrial applications, is pleased to announce two key executive promotions. Effective immediately Ryan Bock, PhD has been promoted to Chief Technology Officer (CTO) of SINTX Technologies, Inc., and Ann Kutsch has been promoted to President of SINTX Technology Assessment and Transfer (SINTX TA&T), a s ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-33624 SINTX Technologies, Inc. (Exact name of registrant as specified in its charter) DELAWARE 84-1375299 (State or other jurisdiction (IRS Employer of incorporati ...

Executive Leadership Changes - Eric K Olson has been appointed as the new CEO and President of SINTX Technologies succeeding Dr B Sonny Bal who will continue as Chairman of the Board [1][2] - Mr Olson brings over 30 years of experience as a serial founder and entrepreneur in medical device diagnostic biologic and biomaterial companies including his recent role as Founder CEO and Board Member of Foresite Innovations LLC [3] - Mr Olson previously served as CEO President and Board Member of the company when it was known as Amedica Corporation and played a key role in the company's 2014 IPO and NASDAQ listing [3] Strategic Focus - The company remains focused on accelerating the development and commercialization of its technologies and seeking new opportunities to enhance shareholder value [4] Board Advisor Appointment - Gregg Honigblum has been designated as Board Advisor bringing over 35 years of experience as a financial advisor and Managing Director for FNEX Securities [5] - Mr Honigblum was responsible for raising the company's private equity funding prior to its 2014 IPO and served on the Board of Directors from 2006 to 2013 [5] Company Overview - SINTX Technologies is an advanced ceramics company specializing in materials components and technologies for medical and technical applications [6] - The company is a global leader in silicon nitride research development and manufacturing with products implanted in humans since 2008 [6] - SINTX has expanded into new markets through strategic acquisitions and alliances and operates manufacturing and R&D facilities in Utah and Maryland [6]

Salt Lake City, Utah., June 18, 2024 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (NASDAQ: SINT) ("SINTX" or the "Company") today announced that its Board of Directors has initiated a process to explore potential strategic options for the Company. "With technologies targeted at the medical, defense, and renewable energy markets, year-over-year growth in revenues, and other commercial opportunities in the pipeline, SINTX will require additional investment and resources. As such, we want to examine all strate ...

Salt Lake City, Utah., June 12, 2024 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (SINTX) (www.sintx.com) (NASDAQ: SINT; "SINTX" or the "Company"), a manufacturer and developer of advanced ceramic materials and related technologies, today announced that on June 11, 2024, the Company received formal notice from The Nasdaq Stock Market LLC ("Nasdaq") that the Company has evidenced compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Listing Ru ...

Salt Lake City, Utah., June 06, 2024 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (SINTX) (www.sintx.com) (NASDAQ: SINT; "SINTX" or the "Company"), a manufacturer and developer of advanced ceramic materials and related technologies, announced today that its wholly-owned subsidiary, Technology Assessment and Transfer, Inc. (TA&T) has been selected by AFWERX for a 3-month, $75,000, phase I Small Business Innovation Research (SBIR) contract focused on Enhanced Sinterability of Complex-Shaped 3D Printed Silicon ...