Aurora Spine Corporation Files Condensed Consolidated Financial Statements for the Nine Months Ended September 30, 2015

CARLSBAD, CALIFORNIA--(Marketwired - Nov. 20, 2015) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

Aurora Spine Corporation ("Aurora Spine" or the "Company") (TSX VENTURE:ASG) announces financial results for the nine months ended September 30, 2015.

To our Shareholders:

Q3 2015 saw an increase in net sales over Q3 2014 of 116%, with revenues of $1.17M in Q3 2015 compared to revenues of $0.54M in Q3 2014. During Q3 2015 we continued the growth of our family of products in our Screwless Procedure™, a cutting-edge surgical approach to spine fusion. The Screwless Procedure features: our ZIP® MIS Fusion System, our TiNano® Interbody cages, our new COMPASS 4D™ retractor system, and an expandable cage offering. The TiNano interbody portfolio continues to be our fastest growing product line, continuing to represent approximately 60% of our Q3 revenues and almost 50% of our gross revenues year-to-date.

Highlights from Q3 2015

• Achieved over $1.17M in gross sales for the quarter.
• Achieved over 640 unit sales in Q3 2015, representing an increase of over 25% compared to Q2 2015 - the 2^nd straight quarter of 25% growth in unit sales.
• Discovery™ sales totaled approximately $340K of the Q3 gross revenue. Discovery is one of our fastest growing product lines and part of our Ti-Nano Interbody portfolio.
• ZIP sales represented approximately 33% of the Q3 gross revenues with over $360K of sales.
• Performed the first Canadian ZIP surgeries in London, Ontario.

The Screwless Procedure has been developed to increase the possibility of significant benefits to patients, hospitals, and surgeons, including reduced surgery time, less blood loss, shorter hospital stays, and significantly faster recovery time. These benefits will continue to be the driving force of Aurora Spine's competitive advantage and growth.

Sales outside of the United States continue to represent approximately 7% of revenues in Q3 2015. We anticipate an ongoing international presence, although our sales effort is now primarily focused in the US.

During the quarter, we continued our efforts to add new hospitals, surgeons and distributors to our customer base. We added to our sales group throughout the US, doubling our salesforce in the US. Also, we completed development of our Affinity ALIF system, and expect to see our first surgeries in Q4.