Bioventus Inc. Stock Price, News & Analysis

Bioventus (Nasdaq: BVS) announced a lease agreement to expand its operational and manufacturing space in Memphis, doubling its current area. The new facility, located at 7101 Goodlett Farms Parkway in Cordova, TN, features approximately 90,000 square feet, with 55,000 dedicated to manufacturing. This move is set for early Q3 2022 and will create an additional 40 jobs over five years. The expansion aligns with the company’s strategy for organic growth and vertical integration, enhancing its manufacturing capabilities.

Bioventus (Nasdaq: BVS) announced the departure of Greg Anglum from his role as CFO, effective immediately. Anglum will remain until a successor is identified. CEO Ken Reali praised Anglum for his contributions over five years, including during the IPO and recent acquisitions. The company reassures stakeholders that his departure is not due to business performance issues, reaffirming its financial guidance for 2021. Bioventus is actively seeking a new CFO to support its growth strategy.

Bioventus Inc. (Nasdaq: BVS) reported Q3 2021 net sales of $108.9 million, up 26.8% year-over-year, driven by strong commercial execution and acquisitions. The company generated a net loss of $2.3 million, down from net income of $8.0 million in Q3 2020. Adjusted EBITDA was $21.3 million, a decline of 7.7% year-over-year. Bioventus updated its full-year sales guidance to $425-$430 million, reflecting 32% to 34% growth. The company successfully integrated Bioness and completed the acquisition of Misonix, positioning itself for further growth in the healing innovations sector.

Bioventus (Nasdaq: BVS) announced the appointment of Sharon Klugewicz as Senior Vice President, Quality and Regulatory Affairs. Klugewicz will oversee global regulatory and quality functions, aiming for integration post-Misonix acquisition. She has significant experience, previously serving as COO of Misonix and holding senior positions at Chembio Diagnostic Systems. Her expertise is expected to enhance Bioventus’ growth strategy in pain treatment and surgical solutions. This leadership change aligns with the company's focus on quality and innovation in its product offerings.

Bioventus Inc. (Nasdaq: BVS) has acquired Misonix, Inc., enhancing its position in regenerative medicine and surgical applications. Misonix stockholders can choose $28 in cash or 1.6839 shares of Bioventus stock per share held. This strategic acquisition targets a $15 billion market, aiming for double-digit revenue growth. The integration is expected to broaden Bioventus' commercial reach, leveraging its extensive sales force in areas like spinal surgery and wound treatment. Key leadership from Misonix will join Bioventus' board, indicating a commitment to shared growth.

Bioventus (Nasdaq: BVS) will release its third quarter fiscal year 2021 financial results on November 9, 2021, before market opening. The company will host a conference call at 8:30 a.m. ET to discuss these results and offer a business update. Participants can join by dialing 844-945-2085, with an international dial-in option available. A live webcast will also be accessible on the company's investor relations website and will be archived for future reference until November 9, 2022.

Bioventus (Nasdaq: BVS) has received stockholder approval for its acquisition of Misonix (Nasdaq: MSON), expected to close by October 29, 2021. This merger was initially announced on July 29, 2021, under which Misonix stockholders will receive either 1.6839 shares of Bioventus stock or $28 in cash for each share of Misonix. The deal represents a 25% premium based on Misonix's 30-day VWAP prior to the agreement. Following the merger, Misonix will become a wholly-owned subsidiary of Bioventus, enhancing their global pain treatment and restorative therapy portfolio.

Bioventus (Nasdaq: BVS) and Misonix (Nasdaq: MSON) announced an election deadline of October 25, 2021, for Misonix stockholders to choose their preferred merger consideration in the proposed acquisition. Each Misonix share will convert to either 1.6839 shares of Bioventus Class A stock or $28.00 in cash, with the option for hybrid election. Record holders must return their Letter of Election and Transmittal to the Exchange Agent by the deadline. A special meeting for stockholders to vote on the merger is set for October 26, 2021. This merger is expected to enhance Bioventus’ product offerings.

Bioventus (Nasdaq: BVS) announced that the American Academy of Orthopaedic Surgeons (AAOS) has released updated clinical practice guidelines (CPG) endorsing the use of high molecular weight cross-linked hyaluronic acid treatments, including DUROLANE, for knee osteoarthritis (OA). The guidelines highlight the effectiveness of these treatments for patients with low to moderate OA who have not responded to other therapies. DUROLANE is noted for its significant pain relief benefits and safety profile. The recommendations are aligned with Bioventus’s clinical practices.