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

Publication of 2019 Annual Report and COVID-19 commentary
03 Apr 2020
Accelerated road to US market approval for CERAMENT G via De Novo application
23 Mar 2020
FY19 report
26 Feb 2020
Change in the management team
12 Feb 2020