Trinity Delta view: Bonesupport has made major inroads in implementing its growth strategy for CERAMENT as it seeks to affect a paradigm shift in the way that bone voids are treated. The antibiotic eluting CERAMENT G & V have gained commendable traction and become the option of choice for many influential surgeons in the markets where they are available. A similar clinical uptake in the commercially important US market would be transformative for Bonesupport.
De Novo filing with the FDA in April, means that first CERAMENT G approval in chronic osteomyelitis could occur in late 2020, with a potential launch in early 2021. FDA approval in the trauma indication is contingent on data from the FORTIFY study, with pending FDA discussions to determine the final stage of the study. This fund raise allows management to plan and execute a more ambitious North American launch programme.
Our valuation and forecasts will, as is usual, be suspended until we have revised our models; we will aim to do as soon as is practicable. For context, our prior valuation was SEK2.27bn or SEK43.3/share.
Lighthouse
28 May 2020
| Price (SEK) | 37.1 |
| Market Cap (SEKm) | 1,953 |
| Primary exchange | OMX Stockholm |
| Sector | Healthcare |
| Company Code | BONEX |
| Corporate client | Yes |
Company description
Bonesupport is a Swedish orthobiologics company focused on developing and commercialising a pipeline of unique injectable drug eluting bioceramic bone graft substitutes based on its proprietary CERAMENT technology.
Analysts
Lala Gregorek
lgregorek@trinitydelta.org
+44 (0) 20 3637 5043
Franc Gregori
fgregori@trinitydelta.org
+44 (0) 20 3637 5041
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