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’s commercially focused strategy has delivered a second successive quarter of record sales, with net revenue of SEK 39.1m achieved in Q319. It was the first full quarter of exclusive US sales (with first sales under major US GPO contracts), and there was a solid performance in Europe/RoW despite lower scheduled surgery rates in osteomyelitis over the summer. Ongoing commercial efforts in the US should benefit from the Healthtrust GPO win, while near-term publication of full CERTiFy trauma data for CERAMENT BVF should have global impact. Management remains on track to deliver 40%+ revenue growth from 2020 onwards, and we maintain our Bonesupport valuation of SEK37/share, or SEK 1.92bn.

Market information

SymbolPrimary exchangeCurrency
BONEXOMX StockholmSEK

Research

A second consecutive quarter of record revenue
Update | 18 Nov 2019
All eyes on Q3 following a record Q2
Update | 31 Jul 2019
Building momentum
Update | 07 May 2019

Recent News

Change in the management team
12 Feb 2020
Agreement on SEK60m working capital facility
31 Jan 2020
CERAMENT BVF CERTiFy study published in The Journal of Bone and Joint Surgery
09 Dec 2019
Appointment of General Manager and EVP Commercial Operations EUROW
12 Nov 2019