Lund, Sweden, 08.00 CET, 20 February 2018 – 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 Q4 and Year-End Report – January – December 2017.
2017 net sales increased by 24%
OCTOBER – DECEMBER 2017
Net Sales amounted to SEK 27.0 million (29.6), a decrease of 9%
Gross margin of 83.3% (87.8)
Operating loss of SEK ‐33.4 million (‐28.4)
Earnings per share, before and after dilution was SEK ‐1.03 (‐1.24)
JANUARY – DECEMBER 2017
Net Sales amounted to SEK 129.3 million (104.6), an increase of 24%
Gross margin of 87.0% (84.4)
Operating loss of SEK ‐99.3 million (‐88.7)
Earnings per share, before and after dilution was SEK ‐3.24 (‐4.26)
OCTOBER – DECEMBER 2017
CERTiFy study completed (136 patients) in this important level 1 trauma study comparing CERAMENT bone void filler with autograft.
BONESUPPORT signed distribution agreement for the Italian market with Citieffe Srl.
Ms Helena L Brandt appointed Head of Human Resources.
SIGNIFICANT EVENTS AFTER PERIOD END
BONESUPPORT announced 23 January the appointment of Emil Billbäck as CEO, effective as of 1 March.
BONESUPPORT repaid the outstanding debt of EUR 9.5 million to Kreos.
Richard Davies, CEO of BONESUPPORT, said: “In Europe and the rest of the world we delivered our best-ever quarterly sales performance in the region with sales increasing by 39% vs Q4 2016 to SEK 14.5 million. This was due to the continued success of our drug eluting products, CERAMENT G and CERAMENT V driven by surgeon preference. The increasing level of clinical evidence supporting CERAMENT’s ability to remodel to host bone and to deliver antibiotics to protect bone healing is key to this choice.
We are also making good progress with our key clinical studies, CERTiFy has completed patient recruitment and results are expected later in 2018. Patient recruitment in the FORTIFY study, with CERAMENT G, is on track to support our goal of filing a PMA with FDA in 2020.
“Over the last 2 years we have positioned BONESUPPORT to become a leading player in orthobiologics. We have invested in our sales and marketing capabilities, and in the clinical data needed to drive the sales of our highly differentiated drug eluting products. We have also built a strong management team and raised the funds needed to execute our value enhancing strategy through to 2020.
“Given this progress, it is the right time for me to hand over the reins to Emil Billbäck, who will become BONESUPPORT’s new CEO on 1 March. I wish him every success and am confident that the Company will deliver significant shareholder value in the years to come based on its unique CERAMENT platform.”
The full Report is available by clicking on the links below:
Outside the US: https://www.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 20 February.
Conference Call/Webcast Details
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:
The presentation will also be webcast and can be accessed from the following web address: https://financialhearings.com/event/10530
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 62 million in 2015 to SEK 129 million in 2017, representing a compound annual growth rate of 45%. 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, Shabnam Bashir, Isabelle Andrews
+44 (0)20 7282 1022
PM som innehåller insiderinformation (ink. finansiell rapport annan än halvår och årsredovisning)
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 08.00am CET on 20th February 2018.