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Kuros Biosciences reported a significant increase in Direct MagnetOs sales by 155% to CHF 13.9 million in Q1 2024 compared to Q1 2023. The total sales for Kuros Medical Devices segment also surged to CHF 13.9 million. The company achieved a positive EBITDA of CHF 3.9 million. MagnetOs Putty received FDA 510(k) clearance for interbody use, and an independent clinical study showed an 86% fusion rate in lumbar fusion procedures. Joe Ross joined as Senior VP Marketing and Business Development. The company displayed strong financial performance and regulatory achievements in Q1 2024.
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Kuros Biosciences (SIX:KURN) held its Annual General Meeting where shareholders approved the Annual Report, Financial Statements, and Consolidated Financial Statements for 2023. Discharge was granted to the Board and Executive Committee, with new members elected to the Board. Adjustments to the articles of association were approved, including the introduction of a Capital Band and an increase in Conditional Share Capital.
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4.58%
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Kuros Biosciences, a leader in bone graft technologies, reported a remarkable 163% growth in direct MagnetOs sales to CHF 31.7 million in 2023. Total medical device sales surged by 153% to CHF 33.6 million. The company achieved a positive EBITDA of CHF 6.8 million. They surpassed 25,000 patients treated with MagnetOs and received FDA market clearance for various products. Kuros expects continued sales growth and aims for positive single-digit EBITDA in 2024.
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Kuros Biosciences, a leader in bone graft technologies, will host a conference call on March 13, 2024, to discuss its full-year financial results and provide a business update. The call will be at 3pm CET/10am US EST. For registration and more information, contact Daniel Geiger or Sandya von der Weid.
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Kuros Biosciences, a leader in next generation bone graft technologies, will present at the CG 2024 Musculoskeletal Conference in San Francisco on February 12, 2024. The management will discuss its novel MagnetOs portfolio of products and its application to spinal fusion. The presentation will be given by Chris Fair, the CEO, and will also include other executive leadership team members. A replay of the presentation will be available for 90 days following the conference, and Kuros management will be available for one-on-one meetings during the event.
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Kuros Biosciences receives FDA clearance for MagnetOs Granules and MagnetOs Putty in the US and New Zealand, expanding the MagnetOs portfolio. The company also partners with Vortek Spine Limited for exclusive distribution in New Zealand. The products are now available for interbody use and standalone use in the posterolateral spine, eliminating the need for autograft. Clinical data shows MagnetOs outperformed autograft by 73% in posterior spinal fusion, benefiting difficult-to-treat patient populations.
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Kuros Biosciences (Kuros) announced positive results from the MAXA level 1 clinical trial comparing standalone MagnetOs to autograft in a challenging posterolateral fusion procedure. The fusion rate with MagnetOs was 78% compared to 45% with autograft. In smokers, the fusion rate was 80% with MagnetOs versus 32% with autograft. Additionally, two MagnetOs products received 510(k) clearances from the FDA for interbody use and standalone use, expanding the product's market opportunities.
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12.73%
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Kuros Biosciences (KUR) announced results from the MAXA and STRUCTURE trials, where MagnetOs outperformed autograft by 73% in posterior spinal fusion and showed posterolateral fusion rates comparable to autograft fusion rates. Fibrin-PTH did not outperform autograft for interbody fusion. Kuros will focus on MagnetOs program, resulting in lower development costs and extending cash runway.
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Kuros Biosciences (Kuros) has received FDA clearance for MagnetOs Flex Matrix for interbody use, significantly expanding its market potential. With its excellent handling properties, MagnetOs is well-suited for interbody applications, offering a substantial commercial opportunity for the company.
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11.06%
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Kuros Biosciences reports strong sales growth and management transition
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KUROS BIOSCIENCE ORD NEW
OTC:CSBTF
CSBTF Rankings
CSBTF Stock Data
319.97M
24.55M
35.24%
7.27%
Research and Development in Biotechnology
Professional, Scientific, and Technical Services
United States of America
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