Lund, Sweden, 08.00 am CET, 25 July 2019 – BONESUPPORT™, listed on Nasdaq Stockholm – BONESUPPORT HOLDING AB (publ) – listed on Nasdaq Stockholm – an emerging leader in orthobiologics for the management of bone voids, today publish the financial report for thean emerging leader in orthobiologics for the management of bone injuries, today publishes the interim report for the second quarter 2019.
CERAMENT G AND CERAMENT V GROWING WITH 64 PERCENT
“The journey of change that began last year continues at full speed. I see the development during the second quarter as a further confirmation that our strategy works. The strong growth for our antibiotic eluting products CERAMENT G and V shows how unique and appreciated our value proposition is. The positive development in the US confirms that our new structure is giving leverage.”
Emil Billbäck, CEO
APRIL – JUNE 2019
Net sales amounted to SEK 37.3 million (28.2), the best quarter in the company’s history in terms of net sales and an increase of 32 percent compared with the previous year. Europe and the rest of the world (EUROW) reported continued strong growth of 59 percent compared to the corresponding period last year. Sales in the US reported growth of 6 percent compared with the previous year and a continued sequential increase of 28 percent from the previous quarter.
CERAMENT G and CERAMENT V grew by 64 percent compared to Q2 2018.
Gross margin amounted to 86.5 percent (87.4).
Operating profit amounted to SEK -47.8 million (-37.8), where the increased loss is mainly due to an item affecting comparability of SEK 11.0 million, which was charged to the period.
Earnings per share before and after dilution, was SEK -0.93 (-0.75).
Distribution rights for the former US distributor, Zimmer Biomet, ceased at the end of May.
The period was affected by a non-comparability item with a negative impact of SEK 11 million. The item is a provision related to product returns from the previous US distributor, Zimmer Biomet.
A GPO (Group Purchasing Organization) contract was signed with Kaiser Permanente which has 690 medical offices, 39 hospitals.
In April, it was announced that Vikram Johri is leaving his role as GM & EVP Commercial Operations EUROW.
The General Meeting approved a share-related incentive program to employees.
The General Meeting elected Lennart Johansson as the new Chairman of the Board.
EVENTS AFTER PERIOD END
The company has decided to focus its research and development on CERAMENT plus bisphosphonate and CERAMENT plus DBM.
The interim report is available by clicking on the links below:
Outside the US: https://www.bonesupport.com/en-eu/financial-reports/
The report will be available on BONESUPPORT’s website from 08.00 am CET today and the presentation from the webcast will be uploaded during the day.
A presentation will be hosted today at 13.00 pm CET and is accessed by telephone or via web. The presentation will be in English with the opportunity to ask questions following the presentation.
The dial-in numbers for the conference call are:
UK: +44 3333009274
SE: +46 856642695
US: +1 8335268382
The presentation will be webcasted and can be accessed from the following web address:
Hosts: Emil Billbäck, CEO, and Håkan Johansson, CFO
For more information contact:
Emil Billbäck, CEO
+46 (0) 46 286 53 70
Håkan Johansson, CFO
+46(0) 46 286 53 70
+46 (0)708 76 87 87
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 and a Premarket approval filing with the FDA (USA) for its gentamicin eluting product is planned in 2020. The company is based in Lund, Sweden, and the net sales amounted to SEK 97 million in 2018. 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 persons set out above, at 08.00 CET on 25 July 2019.