Lund, Sweden, 08.00 CEST, 17 August 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 publishes its Interim Report, January-June 2017.
FINANCIAL HIGHLIGHTS
Q2 Net sales increased by 48%
APRIL – JUNE 2017
- Net Sales amounted to SEK 37.1 million (25.2), an increase of 48%
- Gross margin of 87.2% (86.1)
- Operating loss of SEK -18.4 million (-20.8)
- Earnings per share, before and after dilution was SEK -0.75 (-0.93)
JANUARY – JUNE 2017
- Net Sales amounted to SEK 69.6 million (48.4), an increase of 44%
- Gross margin of 88.0% (85.2)
- Operating loss of SEK -45.8 million (-34.5)
- Earnings per share, before and after dilution was SEK -1.82 (-1.62)
BUSINESS HIGHLIGHTS
APRIL – JUNE 2017
- BONESUPPORT HOLDING AB (publ) was listed 21st June at Nasdaq Stockholm and issued new shares raising SEK 500 million gross in conjunction with the IPO
- BONESUPPORT’s FORTIFY study recruited its first patient
- At the AGM, it was resolved to amend the Articles of association, change category into a public company and consolidate the shares 5:1
- New executive recruitment: Michael Diefenbeck started as Chief Medical Officer
SIGNIFICANT EVENTS AFTER PERIOD END
• The over-allotment option, in relation to the IPO, allowed the Company to raise a further SEK 59 million. The total issue, including the over-allotment option, in conjunction with the IPO, was 19,827,585 shares raising a total of SEK 559 million before transaction costs.
Richard Davies, CEO of BONESUPPORT, commented: “BONESUPPORT has made significant progress in recent months. We successfully completed our IPO on Nasdaq Stockholm raising SEK 559 million, before expenses, and in parallel continued to drive the rapid adoption of our CERAMENT bio-ceramic bone substitute products to treat bone voids. We have also enrolled the first patient in the FORTIFY study which is key to potentially gaining approval for CERAMENT G* in the US. Our pipeline of new product candidates designed to enhance bone growth is continuing to making progress as we generate additional pre-clinical data and attract external grant funding. The multiple milestones that we have achieved in the first half of 2017, alongside the strengthening of our management team and the funding from our IPO mean that BONESUPPORT is now well placed to deliver its 2020 financial targets.”
The full Q2 Report is available by clicking on the links below:
Outside the US:https://www.bonesupport.com/en-eu/financial-reports-inv/
US:https://www.bonesupport.com/en-us/financial-reports-us/
The report will be available on BONESUPPORT’s website from 08:00 am CEST the same day and the presentation from the webcast will be uploaded during the day on the 17th August.
Conference Call
The Company will host a conference call and an online presentation at 10.00am CEST today.
The dial-in numbers for the conference call are:
UK: +44 20 30089802
SE: +46 85 6642694
US: +1 855 8315948
Webcast
The presentation will also be webcast and can be accessed from the following web address: http://www.financialhearings.com/event/10390
Hosts: Richard Davies, CEO, and Björn Westberg, CFO
About BONESUPPORT™
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.
Contact Information
BONESUPPORT AB
Richard Davies, CEO
Tel: +46 (0) 46 286 53 70
Björn Westberg, CFO
Tel: +46 (0) 46 286 53 60
Citigate Dewe Rogerson
David Dible, Pip Batty, Marine Perrier
+44 (0)20 7638 9571