Bioventus Inc. - BVS STOCK NEWS

Bioventus (Nasdaq: BVS) has announced the full launch of BoneScalpel® Access™, a new product for minimally invasive spine surgery, at the North American Spine Society (NASS) meeting in Chicago from October 12 to 15, 2022. The BoneScalpel Access features ultrasonic cutting technology and works in conjunction with OSTEOAMP® bone grafts. This launch reflects Bioventus' commitment to expanding its procedural solutions portfolio and aims to enhance surgical outcomes. The product will be available in the U.S. starting on October 17, 2022.

Bioventus (Nasdaq: BVS) announced that CFO Mark Singleton will participate in a fireside chat at the Morgan Stanley Global Healthcare Conference on September 14, 2022, at 11:10 a.m. ET. The event will be accessible via a live webcast on the company's website, with a replay available afterward. Bioventus focuses on innovative healing solutions, offering clinically proven, cost-effective products that support recovery and active living. The company emphasizes high-quality standards and evidence-based practices to assist healthcare professionals globally.

Bioventus Inc. (Nasdaq: BVS) reported strong Q2 2022 results with net sales reaching $140.3 million, up 27.8% year-over-year. The net loss improved to ($8.0 million) from ($10.8 million) the previous year. Adjusted EBITDA stood at $22.9 million, an increase from $19.9 million in Q2 2021. However, loss per share slightly worsened at ($0.11), compared to ($0.10) a year ago. The company provided updated full-year guidance, anticipating net sales of $547.5 million to $562.5 million. Bioventus also discontinued the development of MOTYS to focus on integration following its recent CartiHeal acquisition.

Bioventus Inc. (Nasdaq: BVS) announced FDA clearance for the neXus® SonaStar Elite® handpiece, expanding its neurosurgery ablation capabilities. This new handpiece, part of the neXus Ultrasonic Surgical Aspirator System, enhances control and versatility in soft and hard tissue removal, including tumors. The SonaStar Elite can perform procedures on both benign and malignant brain and spinal tumors. Bioventus emphasizes its commitment to developing innovative, market-leading technologies for improved surgical outcomes.

Bioventus Inc. (NASDAQ: BVS) is set to report its financial results for the second quarter of fiscal year 2022 on August 11, 2022, before the market opens. Management will host a conference call at 8:30 a.m. Eastern Time to discuss results and provide a business update. Investors can participate by calling 1-833-636-0497 domestically or +1-412-902-4241 internationally. A live webcast will be available in the Investor Relations section of the company's website and will be archived for replay until August 10, 2023.

Bioventus (BVS) has successfully completed its acquisition of CartiHeal, enhancing its portfolio in the treatment of osteoarthritis and knee defects. This strategic move positions Bioventus to leverage CartiHeal's Agili-C implant, which has shown superiority in clinical trials over current treatments like microfracture and debridement. With approximately 650,000 U.S. patients undergoing such procedures annually, the acquisition aims to delay total knee replacements and supports Bioventus’ growth goals of sustained double-digit revenue increases. Adjusted earnings per share guidance will be provided in the upcoming Q2 earnings call.

Bioventus Inc. (Nasdaq: BVS) has amended its acquisition agreement for CartiHeal, reducing the upfront cash payment to $50 million, down from $315 million. The remainder, $215 million, will be deferred to CartiHeal stockholders based on milestone achievements, payable in five tranches from 2023 to 2027. Bioventus aims to finance the acquisition through additional debt, while expecting to close the deal by the end of July 2022. The amendment is viewed as beneficial, allowing continued investment in growth initiatives while maintaining financial flexibility.

Bioventus reported Q1 2022 financial results, with net sales of $117.3 million, a significant increase of 43.4% year-over-year. However, the company saw a net loss of ($14.8) million, contrasting sharply with a net income of $24.5 million in the same period last year. Adjusted EBITDA was $7.1 million, down from $11.1 million in Q1 2021. Looking ahead, Bioventus reaffirmed its full-year guidance, expecting net sales between $545 million to $565 million.

Bioventus (Nasdaq: BVS) has withdrawn its offering of senior notes due to unfavorable market conditions, prioritizing the interests of stakeholders. The Company is considering alternative financing methods to fund its call option for the acquisition of CartiHeal Ltd. CEO Ken Reali expressed optimism about growth drivers leading to sustained double-digit growth. Bioventus reaffirmed its 2022 net sales guidance of $545 million to $565 million and adjusted EBITDA guidance of $94 million to $107 million, indicating strong operational performance despite the debt offering withdrawal.