Lund, Sweden, 08:00 CEST, November 4, 2021 – BONESUPPORT Holding AB (publ), an emerging leader in orthobiologics for the management of bone injuries, today publishes the interim report for the third quarter 2021.
BEST SALES QUARTER TO DATE
JULY – SEPTEMBER 2021
- Net sales increased by 14 percent (26 percent at constant exchange rates) and amounted to SEK 54.9 million (48.1).
- The North America (NA) segment reported a sales increase of 16 percent (34 percent at constant exchange rate).
- The Europe & Rest of the World (EUROW) segment reported a sales increase of 12 percent (16 percent at constant exchange rates).
- The gross margin amounted to 89.0 percent (91.4).
- Operating result amounted to SEK -13.3 million (-19.2).
- Earnings per share, before and after dilution, were SEK -0.22 (-0.33).
JANUARY – SEPTEMBER 2021
- Net sales increased by 19 percent (31 percent at constant exchange rates) and amounted to SEK 151.5 million (127.7).
- The North America (NA) segment reported a sales increase of 22 percent (41 percent at constant exchange rate).
- The Europe & Rest of the World (EUROW) segment reported a sales increase of 14 percent (18 percent at constant exchange rates).
- The gross margin amounted to 89.0 percent (89.2).
- Operating result amounted to SEK -58.9 million (-71.9).
- Earnings per share, before and after dilution, were SEK -0.96 (-1.28).
"Strong sales growth, despite large effect from the pandemic." Emil Billbäck, CEO
EVENTS DURING THE REPORTING PERIOD
- In September, the company announced that the results of the company's Investigational Device Exemption (IDE) study FORTIFY are in-conclusive, due to high drop out rate.
- In September, it was announced that the company had submitted a supplemental De Novo application to the US Food and Drug Administration (FDA) to obtain market approval for the company's antibiotic-releasing product CERAMENT® G, for the indication bone infection.
- During the third quarter, BONESUPPORT’s board of directors executed the mandate from the annual general meeting earlier this year, entering into a share swap agreement with a third party bank amounting till SEK 62.3 million, to ensure delivery of performance shares to participants in the long-term incentive programs decided by the same AGM.
EVENTS AFTER THE REPORTING PERIOD
- In October, it was announced that Michael Wrang Mortensen will join the company in the newly established role of Executive Vice President (EVP) Research & Development (R&D) and Operations on December 1, 2021. At the same time, Dr. Michael Diefenbeck is leaving the responsibility for R&D to fully focus on his role as Chief Medical Officer and EVP Medical & Clinical Affairs, and Johan Olsson is leaving his role as EVP Manufacturing & Supply, transitioning to a role as Senior Advisor.
- In October, a kit with cannula and guide tubes was launched for application and use of CERAMENT for skeletal injuries in close proximity to joints. These products open up a market segment in the US of approximately an additional 20,000 procedures per year.
For more information contact:
BONESUPPORT Holding AB
Emil Billbäck, CEO
+46 (0) 46 286 53 70
Håkan Johansson, CFO
+46 (0) 46 286 53 70
The information in this press release is such that BONESUPPORT Holding AB (publ) is required to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out above, at 08:00 am CET on November 4, 2021.
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 its products deliver. The company is based in Lund, Sweden, and the net sales amounted to SEK 181 million in 2020. Please visit www.bonesupport.com for more information.
BONESUPPORT and CERAMENT are registered trademarks of BONESUPPORT AB.