Welcome to our dedicated page for Kuros Bioscience news (Ticker: CSBTF), a resource for investors and traders seeking the latest updates and insights on Kuros Bioscience stock.
Kuros Bioscience (CSBTF) delivers innovative bone healing solutions through advanced synthetic graft technologies. This page provides investors and medical professionals with centralized access to corporate developments, clinical trial updates, and strategic initiatives shaping the future of orthopedic care.
Track official announcements including product launches, regulatory milestones, and partnership agreements. Our curated news collection covers clinical evidence publications, market expansion efforts, and financial performance updates – all essential for understanding the company's position in the MedTech sector.
Key focus areas include MagnetOs technology advancements, extremities market entries, and global distribution partnerships. Users will find updates on FDA/EU regulatory clearances, surgeon advisory board formations, and peer-reviewed study results demonstrating bone fusion efficacy.
Bookmark this page for real-time access to verified information supporting informed analysis of Kuros Bioscience's progress in transforming spinal and orthopedic treatments through osteoimmunology-driven solutions.
Kuros Biosciences USA has announced a five-year exclusive sales agency agreement with Medtronic's Spinal Division. Under this strategic partnership, Medtronic will serve as the exclusive sales agent for Kuros' MagnetOs bone grafting technology in specific U.S. spine territories. This agreement transforms an initial trial arrangement into a long-term strategic alliance.
While Medtronic will handle sales and marketing activities in the agreed-upon territories, Kuros will maintain control over contracts, hospital partnerships, and revenue recognition. The company will also continue direct sales in non-contracted territories and markets outside of spine applications. The partnership aims to expand access to Kuros' MagnetOs technology, which is backed by clinical data and innovative designs.
Kuros Biosciences announced its strategic expansion into the extremities markets, appointing Jantzen Cole as Vice President of Market Development, Extremities. The company is targeting a $1 billion addressable market with its MagnetOs technology, already approved for use beyond spine procedures. A dedicated Surgeon Advisory Board has been formed to guide clinical and commercial strategies, including renowned experts from leading medical institutions. The expansion leverages existing hospital approvals and infrastructure, building on the company's success in the spine market. Kuros will introduce its technology to foot and ankle surgeons via the Foot Innovate platform.
Kuros Biosciences reported strong financial performance for the first nine months of 2024, with direct MagnetOs sales increasing 149% to CHF 50.6 million. The company's Medical Devices segment achieved an EBITDA of CHF 13.3 million, representing a 26% margin. Notably, Kuros exceeded the cash flow breakeven point for the first time.
The company continues to invest in Project Fusion, activating three U.S. sites for the PRECISE Level 1 clinical trial comparing MagnetOs Flex Matrix to cellular-based allograft. Kuros also expanded commercial clearances for MagnetOs products in the UAE and Qatar, and onboarded new distributors in Australia and the UK.
CEO Chris Fair expressed excitement about the company's momentum and anticipates incremental growth from new markets and non-spine opportunities in 2025, all internally funded by their sustainable cash flow generating business.
Kuros Biosciences reported strong financial results for H1 2024, with direct MagnetOs sales increasing 159% to CHF 31.6 million. The Kuros Medical Devices segment saw a 148% increase in total sales to CHF 31.8 million, with EBITDA rising 287% to CHF 8.6 million. The company achieved a positive Group EBITDA of CHF 0.7 million, up from a loss in H1 2023. Adjusted EBITDA excluding Fibrin-PTH costs and share-based compensation reached CHF 4.0 million, representing a 12.5% margin.
Key highlights include FDA clearances for interbody use of various MagnetOs products and the publication of the MAXA Level 1 clinical study demonstrating MagnetOs' effectiveness. The company expects continued growth in H2 2024 and anticipates generating positive EBITDA and reaching operating cash flow break-even for the first time in 2024.
Kuros Biosciences has announced the publication of a peer-reviewed study in Spine, showcasing the clinical data from their MAXA Level 1 study. This study focused on the efficacy of MagnetOs, a synthetic bone substitute, in challenging posterolateral spinal fusions (PLF). The data from 91 patients and 128 segments with a 1-year follow-up demonstrated a 79% overall fusion rate with MagnetOs, nearly double the 47% rate achieved with autograft. The study indicates that MagnetOs is not only noninferior but potentially superior to traditional autograft methods. The CEO of Kuros, Chris Fair, and lead researcher Dr. Moyo C. Kruyt highlighted the significance of these findings for patients and the medical community, emphasizing MagnetOs as a viable alternative to autograft for difficult-to-treat cases.