Welcome to our dedicated page for Bioventus news (Ticker: BVS), a resource for investors and traders seeking the latest updates and insights on Bioventus stock.
Bioventus Inc. develops and commercializes medical device products for active healing, pain treatment, musculoskeletal care and surgical applications. The company organizes its portfolio around Pain Treatments, Restorative Therapies and Surgical Solutions, including products such as peripheral nerve stimulation devices, bone graft substitutes, ultrasonics, hyaluronic acid injections and ultrasound-based fracture healing therapies.
Recurring Bioventus news covers quarterly and annual results, financial guidance, revenue trends across its product areas and geographic markets, cash flow and margin performance, healthcare conference presentations, portfolio updates and regulatory developments affecting products such as Peripheral Nerve Stimulation offerings.
Bioventus (Nasdaq: BVS) has secured a nationwide contract with Cigna® effective July 1, 2022, offering access to its knee osteoarthritis treatments, DUROLANE and GELSYN-3. DUROLANE, a single-injection treatment, will be exclusive to Cigna patients, while GELSYN-3 will be among two multi-injection options available. Both products are hyaluronic acid-based therapies designed to alleviate knee OA pain, addressing the degeneration of joint tissues. Tim Donovan, Bioventus Vice President, expressed confidence in the therapeutic benefits of these products for Cigna members.
Bioventus (Nasdaq: BVS) announced preliminary financial results for Q1 2022, projecting net sales between $116.5 million to $118.5 million, marking a 42% to 45% increase compared to the prior year. Despite strong sales growth in Pain Treatments and recovering Surgical Solutions revenue, the company expects a net loss of $(19.4 million) to $(19.0 million). Adjusted EBITDA is estimated at $6.8 million to $7.3 million. The results are preliminary and subject to change, particularly as Bioventus integrates its upcoming acquisition of CartiHeal.
Bioventus Inc. (Nasdaq: BVS) announced plans to offer $415 million in senior notes due 2027, subject to market conditions. The proceeds will fund its acquisition of CartiHeal, repay some borrowings, and cover offering expenses. The Issuer requires the acquisition to close within 75 days; otherwise, all notes will be redeemed. Concurrently, amendments to credit facilities will be sought to support the offering and acquisition. The notes will be offered to qualified institutional buyers in an exemption under the Securities Act, without registration.
Bioventus (BVS) will report its Q1 2022 financial results on May 10, 2022, before market opening. Following the report, management will host a conference call at 8:30 a.m. ET to discuss the results and provide a business update. Participants can join via a domestic call at 1-844-945-2085 or international at +1-442-268-1266, using access code 1795461. A live webcast and materials will be available on the Investor Relations section of their website, with archived access until May 9, 2023.
Bioventus (Nasdaq: BVS) announced that TheraSkin coverage has been expanded to include three of the four largest U.S. commercial plans, as well as Medicare, impacting over 17 million medical lives. TheraSkin is a treatment for chronic wounds, with new data showing statistically significant healing benefits compared to standard care. This expansion signifies a growing recognition of TheraSkin's value, now accessible to approximately 200 million patients in the U.S. TheraSkin is FDA-authorized for multiple wound types, including diabetic foot and pressure ulcers.
Bioventus (Nasdaq: BVS) announced the issuance of equity inducement awards to Mark Singleton, newly appointed Senior Vice President and CFO, on April 4, 2022. The awards entail 74,500 restricted share units and options to purchase 223,200 shares of Class A common stock. These will vest in four equal installments over four years, contingent upon Mr. Singleton's continued employment. The options carry an exercise price of $13.29. This decision was made in compliance with Nasdaq Listing Rule 5635(c)(4).
Bioventus (Nasdaq: BVS) announces its acquisition of CartiHeal Ltd. for approximately $315 million, with an additional $135 million contingent on achieving $100 million in sales. This acquisition follows the FDA’s premarket approval of CartiHeal’s Agili-C implant, a device aimed at treating knee joint surface lesions. The deal promises to tap into a $1.3 billion market opportunity, targeting 675,000 patients annually. Bioventus plans to finance this acquisition through additional debt and aims for a limited market release of Agili-C in the U.S. by Q3 2022.
Bioventus (Nasdaq: BVS) announced that CEO Ken Reali will participate in a fireside chat at the Canaccord Genuity Musculoskeletal Conference on March 22, 2022, at 11:00 a.m. ET. A live webcast will be available on the Company’s website under the 'Investors' section, with a replay accessible after the event. Bioventus is recognized for delivering innovative, cost-effective solutions that promote healing and enhance patient quality of life. The Company focuses on pain treatment, restorative therapies, and surgical solutions.
Bioventus reported Q4 2021 net sales of $130.4 million, a 32.3% increase year-over-year, driven by recent acquisitions. However, the company faced a net loss of $1.9 million, compared to a net income of $2.3 million in the previous year. Full-year net sales reached $430.9 million, up 34.2% from 2020, alongside a decrease in net income to $9.6 million. For 2022, the company forecasts net sales between $545 million and $565 million, indicating strong growth prospects.
Bioventus Inc. (Nasdaq: BVS) has received 510(k) clearance from the US FDA for its upgraded StimRouter Neuromodulation System, designed to improve chronic pain management. This next-generation device offers enhanced patient control and longer battery life through the use of a smartphone app and a state-of-the-art external conductor. Thousands of patients have previously benefited from the StimRouter, which aims to support a non-opioid approach to pain relief, addressing the needs of over 50 million Americans suffering from chronic pain.