Lund, Sweden, 08.00 am CET, May 8 2020 – BONESUPPORT HOLDING AB (publ), an emerging leader in orthobiologics for the management of bone injuries today publishes the interim report for the first quarter 2020.
GOOD GROWTH BUT INFLUENCED BY COVID-19
“FDA’s ‘breakthrough device designation’ for CERAMENT G is further proof of the unique therapeutic value of our antibiotic eluting products.” Emil Billbäck, CEO
JANUARY – MARCH 2020
- Net sales increased with 32 percent compared to previous year, and amounted to SEK 43.4 million (32.8). In March 2020, covid-19 reached a pandemic level and BONESUPPORT was affected in both US and Europe due to a decline mainly in elective surgery. The Europe & Rest of the World (EUROW) segment reported a growth of 4 percent compared to the same period last year. The North America (NA) segment reported an increase in sales with 84 percent, as an effect of the transition to the new distribution model and thereby low sales during previous year. For NA, a sequential decrease of 9 percent was reported from the previous quarter.
- CERAMENT G and CERAMENT V grew by 2 percent compared to the same period previous year.
- Gross margin amounted to 88.7 percent (85.9). Increased sales in NA has had a positive effect on the gross profit.
- Operating result amounted to SEK -29.2 million (-39.0).
- Earnings per share, before and after dilution, were both SEK -0.56 (-0.75).
- BONESUPPORT announced on January 31 that the Company has signed an agreement with Skandinaviska Enskilda Banken (SEB) on a working capital facility of up to SEK 60 million.
- BONESUPPORT announced in February that Patrick O’Donnell is leaving the Company and his role as GM & EVP Commercial Operations NA.
SIGNIFICANT EVENTS AFTER PERIOD END
- In April, BONESUPPORT announced that sales for the first half of 2020 are expected to be negatively affected by the covid-19 outbreak.
- BONESUPPORT announced in April that the Company had submitted a De Novo application to the US Food and Drug Administration (FDA) to obtain a market approval for the Company’s antibiotic eluting product CERAMENT G. The application is valid for the indication osteomyelitis (bone infection) and could potentially lead to an approval at the end of 2020.
- BONESUPPORT announced in April that Michael Roth joins the Company in June as GM & EVP Commercial Operations NA.
For more information contact:
Emil Billbäck, CEO
+46 (0) 46 286 53 70
Håkan Johansson, CFO
+46 (0) 46 286 53 70
BONESUPPORT (Nasdaq Stockholm: BONEX) 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. BONESUPPORT’s bone graft substitutes are based on the patented technology platform CERAMENT. The Company is conducting several clinical studies to further demonstrate the clinical and health economic benefits that its products deliver and a Premarket approval filing with the FDA (USA) for CERAMENT G is planned in 2021. The Company is based in Lund, Sweden, and the net sales amounted to SEK 155 million in 2019. Please visit www.bonesupport.com for more information.
BONESUPPORT and CERAMENT are registered trademarks of BONESUPPORT AB.
This information is such information as BONESUPPORT HOLDING AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 am CET on May 8 2020.