Bioventus Inc. Stock Price, News & Analysis

Bioventus (BVS) announced an amendment to its Credit and Guaranty Agreement with Wells Fargo, offering financial covenant relief until Q1 2024. The adjusted net leverage ratio will reach approximately 7.2x Adjusted EBITDA, enhancing the company's financial flexibility for growth initiatives. The Revolving Credit Facility will now mature on October 29, 2025, with commitments reduced to $45 million by year-end 2023, then $40 million by mid-2024. Interest rates for outstanding debt will be SOFR + 4.25%. The company emphasizes its mission to deliver effective healing solutions for patients while maintaining ethical standards.

Bioventus (BVS) has announced a change in the release schedule of its fourth quarter fiscal year 2022 financial results, now set for March 31, 2023, before market opening. The adjustment allows for additional time to finalize financial statements. Following the announcement, Bioventus will hold a conference call at 8:30 a.m. Eastern Time on the same day to discuss the results and provide updates on business operations. Interested participants can join via telephone or listen through a live webcast on the Investor Relations section of the Bioventus website, which will also host an archived version of the call for replay until March 30, 2024.

Bioventus Inc. (BVS) announced its financial results for the fourth quarter of fiscal year 2022 will be reported on March 30, 2023, before market opens. A conference call will follow at 8:30 a.m. ET to discuss the results and provide a business update. Investors can participate by dialing 1-833-636-0497 domestically or +1-412-902-4241 internationally. The call will be webcasted live and archived on the company’s Investor Relations website, available for replay until March 29, 2024. Bioventus focuses on innovations that promote active healing, showcasing its commitment to high-quality healthcare products.

Bioventus (Nasdaq: BVS) announced a Settlement Agreement with former CartiHeal shareholders, potentially eliminating up to $350 million in deferred purchase price obligations. The agreement allows Bioventus a 30-day period to evaluate funding options to cover $215 million in post-closing tranche payments, while releasing the company from future claims. In exchange for this flexibility, Bioventus will pay $10 million in cash and an additional $150,000 for expenses. If funding isn't secured, ownership of CartiHeal will revert to its sellers. This strategic move aims to enhance financial stability and mitigate potential obligations.

Bioventus Inc. (Nasdaq: BVS) announced that CEO Ken Reali will present at the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, at 5:15 p.m. PT (8:15 p.m. ET). The presentation will be live-streamed and accessible via the Bioventus Investors webpage, remaining available until February 10, 2023.

Bioventus focuses on delivering innovative, clinically proven products for active healing, including pain treatments and surgical solutions, emphasizing quality and ethical practices.

Bioventus (Nasdaq: BVS) announced the filing of a Form 12b-25 for late submission of its quarterly report for the period ending October 1, 2022. Following a decline in market capitalization after its Q3 earnings release, Bioventus is reviewing potential non-cash impairment charges, estimating between $185 million and $205 million. The company is also addressing a revised invoice related to rebate claims that may adversely influence its Q3 financial results and revenue guidance. Despite these challenges, Bioventus does not expect changes to its adjusted EBITDA guidance for 2022.

Bioventus reported Q3 2022 net sales of $137.1 million, reflecting a 25.9% year-over-year increase, with net income of $3.2 million compared to a net loss of $2.3 million in Q3 2021. Adjusted EBITDA rose to $22.7 million. However, the company reduced its full-year sales guidance to $527-$532 million from $547.5-$562.5 million, citing temporary reimbursement issues and the discontinuation of the MOTYS development. Cash and cash equivalents decreased to $34.4 million alongside increased debt obligations of $424.4 million.

Bioventus (BVS) will announce its Q3 fiscal results on November 8, 2022, before market opening. A conference call is scheduled for 8:30 a.m. ET on the same day to discuss the results and provide a business update. Interested participants can join by dialing 1-833-636-0497 domestically or +1-412-902-4241 internationally. A live webcast and materials will be accessible through the Investor Relations section of Bioventus' website, with archived availability until November 7, 2023.