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BONESUPPORT HOLDING AB (publ) – Publishes Q2 2020 Interim report

Lund, Sweden, 08:00 am CET, July 17, 2020 – BONESUPPORT HOLDING AB (publ), an emerging leader in orthobiologics for the management of bone injuries, today publishes the interim report for the second quarter 2020.

STRONG SALES GROWTH IN THE US

“I am proud of the strategic progress we have achieved during the quarter and the organization’s ability to adapt the business to the current circumstances.” Emil Billbäck, CEO.

APRIL – JUNE 2020

  • Net sales decreased by 3 percent and amounted to SEK 36.2 million (37.3).
  • The North America (NA) segment reported a sales increase of 46 percent.
  • The Europe & Rest of the World (EUROW) segment reported a 35 percent decline in sales.
  • The gross margin was 86.7 percent (86.5). The gross margin was suppressed by fixed production costs in combination with lower net sales.
  • Operating result amounted to SEK -23.5 million (-47.8).
  • Earnings per share, before and after dilution, were SEK -0.41 (-0.93).

JANUARY – JUNE 2020

  • Net sales increased by 14 percent and amounted to SEK 79.6 million (70.1).
  • The North America (NA) segment reported a sales increase of 63 percent.
  • The Europe & Rest of the World (EUROW) segment reported a 16 percent decrease in sales.
  • The gross margin was 87.8 percent (86.2).
  • Operating result amounted to SEK -52.7 million (-86.8).
  • Earnings per share, before and after dilution, were SEK -0.95 (-1.68).

SIGNIFICANT EVENTS

  • 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.
  • In May, BONESUPPORT carried out a directed new share issue of SEK 378 million before transaction costs.
  • Michael Roth assumed the position as General Manager & Executive Vice President Commercial Operations North America in June.
  • In June, BONESUPPORT announced that the Company is starting its own sales organization in the Netherlands.
  • Patient recruitment to FORTIFY ended in June, following a FDA approval.

For more information contact:

BONESUPPORT AB

Emil Billbäck, CEO
+46 (0) 46 286 53 70

Håkan Johansson, CFO
+46 (0) 46 286 53 70

Cord Communications
Charlotte Stjerngren
+46 (0) 708 76 87 87

www.cordcom.se

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 July 17, 2020.

About BONESUPPORT™

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 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.

 

Source: www.bonesupport.com