Bonesupport
Lund, Sweden

Bonesupport is an orthobiologics company focused on developing and commercialising a pipeline of unique injectable drug-eluting, bioceramic bone graft substitutes based on its proprietary CERAMENT technology.

www.bonesupport.com

Investment Perspective

Bonesupport has, over the course of 2019, laid the foundations for its commercially driven strategy to deliver accelerating growth of its CERAMENT platform. It is targeting 40+% annual revenue growth from 2020 as it seeks to affect a paradigm shift in the way that bone voids are treated. Q419 was the third consecutive quarter of record sales, with FY19 net sales of SEK155m up 61% on FY18. US quarterly sales have returned to their historic peak and client conversions under GPO contracts bode well for US sales momentum. In Europe/RoW antibiotic eluting products continue to show impressive growth (+45% y-o-y). Compelling clinical and health economics data will add further impetus to commercial efforts, with various studies supporting future reimbursement discussions (CONVICTION and SOLARIO) or regulatory approvals (FORTIFY). We upgrade our Bonesupport valuation to SEK43.3/share, or SEK2.27bn.

Market information

SymbolPrimary exchangeCurrency
BONEXOMX StockholmSEK

Research

Accelerated FDA pathway for CERAMENT G
Lighthouse | 23 Mar 2020
Cementing the foundations for growth
Update | 02 Mar 2020
A second consecutive quarter of record revenue
Update | 18 Nov 2019

Recent News

Completion of SEK 378m directed share issue
27 May 2020
Q120 interim report
08 May 2020
Appointment of General Manager and EVP Commercial Operations North America
29 Apr 2020
De Novo application for CERAMENT G submitted to the FDA
17 Apr 2020