Lund, Sweden, 08.00 CET, 2 November 2017 – BONESUPPORTTM, an emerging leader in innovative injectable bio-ceramic bone substitute products to treat bone voids caused by trauma, infection, disease or related surgery based on its unique CERAMENT® platform today announces the publication of its Interim Report January – September 2017.
Q3 Net sales increased by 23%
JULY – SEPTEMBER 2017
Net Sales amounted to SEK 32.7 million (26.5), an increase of 23%
Gross margin of 87.8% (79.2)
Operating loss of SEK -20.1 million (-25.9)
Earnings per share, before and after dilution was SEK -0.47 (-1.39)
JANUARY – SEPTEMBER 2017
Net Sales amounted to SEK 102.3 million (75.0), an increase of 36%
Gross margin of 87.9% (83.1)
Operating loss of SEK -65.9 million (-60.3)
Earnings per share, before and after dilution was SEK -2.13 (-3.01)
JULY – SEPTEMBER 2017
The over-allotment option, in relation to the IPO, allowed the Company to raise further SEK 59 million. The total issue including the over-allotment option, in conjunction with the IPO, was 19,285,345 shares raising a total of SEK 559 million before SEK 38.7 million in transaction costs.
BONESUPPORT announced 13 July a pipeline project targeting Bioceramics to enhance bone growth was awarded SEK 8 million grant from Vinnova.
BONESUPPORT announced 7 September an agreement with Novomedics to commercialize CERAMENT® G in the French market.
BONESUPPORT announced 19 September the appointment of Dr Jerry Chang as Executive VP R&D.
SIGNIFICANT EVENTS AFTER PERIOD END
BONESUPPORT announced 9 October the first patient recruited into the Revision Arthroplasty study in Italy.
BONESUPPORT announced 13 October the appointment of Helena L Brandt as Head of Human Resources.
Richard Davies, CEO of BONESUPPORT, said: “BONESUPPORT has made good progress in the third quarter. We have seen a solid increase in sales driven by the continuing success of our antibiotic eluting products, CERAMENT G and CERAMENT V, which together saw a 48% increase in revenues. We have also presented new compelling clinical data at major European orthopedic conferences, which demonstrate the clear benefits these products deliver. In October, we recruited the first patient evaluating CERAMENT G and V in patients undergoing revision arthroplasty. A successful study outcome would open-up a major commercial opportunity for BONESUPPORT. We also strengthened our management team with appointment of Dr Jerry Chang who will help us to generate value from our pipeline of novel CERAMENT products which are designed to enhance bone growth.”
The full Q3 Report is available by clicking on the links below:
Outside the US: https://bonesupport.com/en-eu/financial-reports-inv/
The report will be available on BONESUPPORT’s website from 08:00 am CET the same day and the presentation from the webcast will be uploaded during the day on 2 November.
The Company will host a conference call and an online presentation at 10.00am CET today.
The dial-in numbers for the conference call are:
UK: +44 20 30089806
SE: +46 85 0639 549
US: +1 855 8315945
The presentation will also be webcast and can be accessed from the following web address: http://www.financialhearings.com/event/10531
Hosts: Richard Davies, CEO, and Björn Westberg, CFO
BONESUPPORT is an innovative and rapidly growing commercial stage orthobiologics company, based in Lund, Sweden. The Company develops and commercializes innovative injectable bio-ceramic bone graft substitutes that remodel to the patient’s own bone and have the capability of eluting drugs directly into the bone void.
BONESUPPORT’s marketed bio-ceramic bone graft substitutes CERAMENT® BONE VOID FILLER (BVF), CERAMENT® G* and CERAMENT® V* are all based on the Company’s novel and proprietary CERAMENT technology platform.
The Company’s products are targeting a large addressable market opportunity across trauma, chronic osteomyelitis (bone infection), revision arthroplasty (replacement of a joint prosthesis) and infected diabetic foot.
BONESUPPORT’s total sales increased from SEK 41 million in 2014 to SEK 105 million in 2016, representing a compound annual growth rate of 60 percent. The Company’s financial target is to achieve revenue exceeding SEK 500 million in the financial year 2020, with a gross margin exceeding 85 percent and a positive operating profit.
The Company’s research and development is focused on the continuing development and refinement of its CERAMENT technology to extend its use into additional indications by the elution of other drugs and therapeutic agents. The Company currently has a pipeline of pre-clinical product candidates that have been designed to promote bone growth.
BONESUPPORT is listed on Nasdaq Stockholm and trades under the ticker “BONEX” (ISIN code: SE0009858152). Further information is available at bonesupport.com
*CERAMENT G: Not available in the United States, for investigational use only. CERAMENT V: Not available in the United States
BONESUPPORT™ and CERAMENT® are registered trademarks.
For more information contact:
Richard Davies, CEO
+46 (0) 46 286 53 71
Björn Westberg, CFO
+46 (0) 46 286 53 60
Citigate Dewe Rogerson
Pip Batty, David Dible, Marine Perrier
+44 (0)20 7282 1022