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Kuros Biosciences AG (0RHR.L)

LSE - LSE Delayed price. Currency in CHF
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2.0600+2.0600 (+183.44%)
As of 2:48PM GMT. Market open.
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Previous close3.0200
Open2.0600
Bid0.0000 x 0
Ask0.0000 x 0
Day's range2.0600 - 2.0600
52-week range2.0600 - 2.0600
Volume180
Avg. volumeN/A
Market cap25.595M
Beta (5Y monthly)1.04
PE ratio (TTM)N/A
EPS (TTM)-0.4740
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • Globe Newswire

    Kuros Biosciences Reports Results for the Full Year 2020

    Financial highlights CHF 29.8 million cash & cash equivalents, trade and other receivables at December 31, 2020Revenues increased by 58% to CHF 4.0 million Operational highlights Initiated Phase II clinical study of Fibrin-PTH in spineCommercial rollout in the U.S. and Europe on track Distribution agreements for The Netherlands, Austria, and Switzerland for MagnetOsRaised CHF 18.6 million to advance product pipeline and commercialization of MagnetOs SCHLIEREN (ZURICH), Switzerland, March 18, 2021 (GLOBE NEWSWIRE) -- Kuros Biosciences closed the year with outstanding results for 2020, accelerating sales by 58% and initiating the Phase II study for Fibrin PTH, confirming its successful transition into a fully-fledged orthobiologics company with scientific, clinical, and commercial excellence in bone regeneration. Kuros raised gross proceeds of CHF 18.6 million from a capital increase to advance its pipeline, in particular the Phase II clinical study of its proprietary Fibrin-PTH product candidate in spinal fusion, and to progress commercialization of MagnetOs in the U.S. and selected geographies in Europe. Despite the worldwide pandemic, Kuros achieved strong sales growth of MagnetOs in the U.S. and launched MagnetOs in selected European countries. Joost de Bruijn, Chief Executive Officer, said: “The Kuros team has delivered an outstanding performance in a complex environment, making significant progress on all fronts in 2020. The impressive sales growth of MagnetOs is a turning point in the history of the company and confirms our transformation into commercial company. Beyond this, we have started the Phase II with Fibrin-PTH in spinal fusion, which represents a huge commercial opportunity.” Key developments in 2020 Conducted successful capital increase, raising total gross proceeds of CHF 18.6 million First patient treated in the STRUCTURE trial, investigating Fibrin-PTH for transforaminal lumbar interbody fusion (TLIF) procedures in patients with degenerative disc disease.Reached milestone of 2,000 patients treated with MagnetOs bone graft.Unveiled new research on the role of osteoimmunology in bone formation in three presentations at the North American Spine Society (NASS) 2020 Annual Meeting.Won the 2020 Spine Technology Award, awarded by the widely-read industry publication Orthopedics This Week for outstanding innovations in the field, for its Fibrin-PTH technologyAdded to the body of data supporting the use of MagnetOs as an alternative to gold standard treatment autograft. Strengthened intellectual property with a U.S. patent covering the use of PTH containing matrices for spinal fusion and a European patent covering certain combinations of polymers and granular materials, relating to MagnetOs. Financial positionCash and cash equivalents (including trade and other receivables) as of December 31, 2020, amounted to CHF 29.8 million, compared to CHF 21.9 million as of December 31, 2019. Net operating costs increased to CHF 13.4 million (2019: CHF 11.7 million) primarily due to higher Marketing and Sales costs of CHF 4.3 million (2019: CHF 2.3 million) which contained costs for personnel and other costs for sales and marketing. Expenses for research and development decreased slightly to CHF 4.0 million (2019: CHF 4.7 million), which are mainly external costs for the Phase II study (spine indication) of Fibrin-PTH, as well as personnel costs. General and administrative costs increased slightly to CHF 5.4 million (2019: CHF 5.0 million). Other income amounted to CHF 0.3 million (2019: CHF 0.3 million) and mainly consisted of patent recharges to Checkmate. Revenues amounted to CHF 4.0 million (2019: CHF 2.6 million) and originated from product sales. The net loss for 2020 amounted to CHF 11.5 million, compared to CHF 11.3 million in 2019. Key figures 2020 2019 In TCHF, IFRS Revenue 4,039 2,561 Cost of Goods sold (2,368)(2,220)- Research and development cost (4,005)(4,739 )- General and administrative cost (5,392)(4,970)- Sales and marketing costs (4,263)(2,304)- Other income 310 280 Net operating costs (13,350)(11,733)Operating loss (11,679)(11,392)Net financial loss (415) (431)Income taxes 574 571 Net loss (11,520)(11,252)Net loss per share (in CHF) (0.47)(0.71)Cash and cash equivalents, trade, and other receivables 29,790 21,877 Events after the reporting period Signed sales and distribution agreements for MagnetOs bone graft, covering the Netherlands, Switzerland, Austria. OutlookKuros’ products are advancing according to plan, with MagnetOs generating sales in the U.S. and in Europe and expected to become cashflow positive by the end of 2022. Kuros is financed to accelerate the commercial roll-out of MagnetOs in the U.S. and to complete the Phase II clinical study of Fibrin-PTH in spine, with the first (interim) data expected to be available by early 2022 and full (1-yr endpoint) data in the second half of 2022. The annual report 2020 is available on our corporate website under the following link: https://kurosbio.com/resources/kuros-annual-report-2020/ For further information, please contact: Kuros Biosciences AG LifeSci Advisors Michael GrauMary-Ann Chang Chief Financial OfficerInvestorsTel +41 44 733 47 47+44 7483 284 853michael.grau@kurosbio.commchang@lifesciadvisors.com About Kuros Biosciences AG Kuros Biosciences is a leader in next generation synthetic bone graft technologies for targeted and controlled bone healing. Kuros’s bone graft substitute, MagnetOs, is commercialized in the U.S. and UK for use in posterolateral spinal fusions. Kuros’s lead product in development, Fibrin PTH, a drug-biologic combination for spinal interbody fusion, has entered into a phase 2 clinical trial in the U.S. Kuros is located in Schlieren (Zurich), Switzerland, Bilthoven, The Netherlands and Burlington (MA), U.S. The Company is listed according to the International Reporting Standard on the SIX Swiss Exchange under the symbol KURN. Visit www.kurosbio.com for additional information on Kuros, its science and product pipeline. Forward Looking Statements This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words “will” or “expect” or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors, Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.

  • Globe Newswire

    Kuros Biosciences to Present at Upcoming Clinical and Investor Conferences

    New data on the role of osteoimmunology in bone formation at BritSpine MeetingInvestor presentation at BioCapital Europe SCHLIEREN (ZURICH), Switzerland, March 10, 2021 (GLOBE NEWSWIRE) -- Kuros Biosciences (SIX: KURN), a leader in next generation bone graft technologies and a pioneer in the emerging field of osteoimmunology, today announced that the company will present at two major European conferences in March, both to be held virtually. Joost de Bruijn, Chief Executive Officer, and Michael Grau, Chief Financial Officer, will participate in the 18th edition of BioCapital Europe, the premier life investment venue organized by LSP on March 11. Joost de Bruijn will deliver a corporate presentation at 11.30 CET, and be available, with Michael Grau, for 1x1 meetings with investors. For more info about this event, please visit the meeting website: https://www.biocapitaleurope.com Kuros will also present real-world clinical data and research on the role of osteoimmunology in bone formation in two presentations at the 11th BritSpine conference, taking place March 10-12. Lukas A. van Dijk will present research that demonstrates the following properties after treatment with Kuros’ MagnetOs: Direct upregulation of pro-healing, anti-inflammatory immune cells by the unique needle-shaped surface of Kuros’ MagnetOs™ advanced bone graft.Increased vascularization by epithelial cells grown in the same pro-healing microenvironment compared to the market-leading synthetic bone graft, Vitoss®. In addition, Dr Kornelis Poelstra MD PhD of the Robotic Spine Institute of Las Vegas will be presenting his findings from a series of patients treated using MagnetOs in his clinical practice. Details for the presentations: Calcium phosphates with submicron topography enhance human macrophage M2 polarization (In Vitro). Lukas A. van Dijk. March 10, at 10AM GMT (11AM CET)Cervical- and lumbar spinal fusion through submicron surface topography - Real life clinical data. Kornelis Poelstra. March 10, at 12.30PM GMT (1.30PM CET) For more info about BritSpine 2021, please visit the https://www.ukssb.com/britspine2021. MagnetOs bone graft is supported by a growing set of preclinical data demonstrating equivalence to the current gold standard, autograft, with over three years of clinical experience since its first use in the UK in May 2017. For further information, please contact: Kuros Biosciences AGLifeSci Advisors Michael GrauMary-Ann Chang Chief Financial OfficerInvestorsTel +41 44 733 47 47+44 7483 284 853michael.grau@kurosbio.commchang@lifesciadvisors.com About Kuros Biosciences AG Kuros Biosciences is a leader in next generation synthetic bone graft technologies for targeted and controlled bone healing. Kuros’s bone graft substitute, MagnetOs, is commercialized in the U.S. and UK for use in posterolateral spinal fusions. Kuros’s lead product in development, Fibrin PTH, a drug-biologic combination for spinal interbody fusion, has started a phase 2 clinical trial in the U.S. Kuros is located in Schlieren (Zurich), Switzerland, Bilthoven, The Netherlands and Burlington (MA), U.S. The Company is listed according to the International Reporting Standard on the SIX Swiss Exchange under the symbol KURN. Visit www.kurosbio.com for additional information on Kuros, its science and product pipeline. About MagnetOs bone graft MagnetOs bone graft has an advanced submicron surface topography that leads to the formation of bone in spinal fusion defects rather than scar tissue. In preclinical models, MagnetOs preferentially directs the body’s early wound healing response toward the bone-forming pathway, an effect that is so potent that bone can be formed even in soft tissues without the need for added cells or growth factors. This ground-breaking research led to Kuros attaining an osteoinductive claim for MagnetOs in Europe. Results from in vitro or in vivo laboratory testing may not be predictive of clinical experience in humans. MagnetOs is not cleared by FDA as an osteoinductive bone graft. US indications statementMagnetOs is an implant intended to fill bony voids or gaps of the skeletal system, i.e., posterolateral spine. MagnetOs must be used with autograft as a bone graft extender in the posterolateral spine. These osseous defects may be surgically created or the result of traumatic injury to the bone and are not intrinsic to the stability of the bony structure. EU indications statementMagnetOs is intended for use as bone void filler for voids and gaps that are not intrinsic to the stability of the bony structure. MagnetOs is indicated for use in the treatment of surgically created osseous defects or osseous defects resulting from traumatic injury to the bone. MagnetOs is intended to be packed into bony voids or gaps of the skeletal system (i.e. extremities, spine, cranial, mandible, maxilla and pelvis) and may be combined with autogenous bone. MagnetOs should not be used to treat large defects that in the surgeon’s opinion would fail to heal spontaneously. In load bearing situations, MagnetOs is to be used in conjunction with internal or external fixation devices. Forward Looking Statements This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words “will” or “expect” or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors, Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.

  • Globe Newswire

    Kuros Biosciences Announces MagnetOs Sales and Distribution Agreements Across Northern Europe

    Agreements in Netherlands, Switzerland and Austria and letter of intent in FinlandSupports further acceleration of sales of MagnetOs bone graft SCHLIEREN (ZURICH), Switzerland, March 02, 2021 (GLOBE NEWSWIRE) -- Kuros Biosciences (SIX: KURN) today announced that it has signed sales and distribution agreements for MagnetOs bone graft, covering the Netherlands, Switzerland, Austria, and Finland. These add to an existing agreement in the United Kingdom and Ireland. Kuros has signed a sales agency agreement with Lubbers Medical BV giving Lubbers non-exclusive rights to sell MagnetOs in the Netherlands, effective Q4 2020. Kuros has signed exclusive stocking distributor agreements for Switzerland and Austria with Orthocontor AG and Amacord GmbH, respectively, both effective Q1 2021. Kuros and Arthrone Oy have signed a letter of intent and expect to sign a full stocking distributor agreement for Finland by the end of Q2 2021. These new territories are in addition to the existing agreement with Axis Spine Limited in the UK, which has been marketing MagnetOs since 2017. Joost de Bruijn, Chief Executive Officer of Kuros, said: “We are pleased to finalize these sales and distribution agreements, which recognize the unique osteoinductive properties of MagnetOs, with respected partners across Northern Europe following a competitive process. Sales of MagnetOs are accelerating, and these agreements will enable further expansion.” MagnetOs bone graft is supported by a growing set of preclinical data demonstrating equivalence to the current gold standard, autograft, with over three years of clinical experience since its first use in the UK in May 2017. For further information, please contact: Kuros Biosciences AGLifeSci AdvisorsMichael GrauMary-Ann ChangChief Financial OfficerInvestorsTel +41 44 733 47 47+44 7483 284 853michael.grau@kurosbio.com mchang@lifesciadvisors.com About MagnetOs bone graft MagnetOs bone graft has an advanced submicron surface topography that leads to the formation of bone in spinal fusion defects rather than scar tissue. In preclinical models, MagnetOs preferentially directs the body’s early wound healing response toward the bone-forming pathway, an effect that is so potent that bone can be formed even in soft tissues without the need for added cells or growth factors. This ground-breaking research led to Kuros attaining an osteoinductive claim for MagnetOs in Europe. Results from in vitro or in vivo laboratory testing may not be predictive of clinical experience in humans. MagnetOs is not cleared by FDA as an osteoinductive bone graft. About Kuros Biosciences AG Kuros Biosciences is a leader in next generation synthetic bone graft technologies for targeted and controlled bone healing. Kuros’s bone graft substitute, MagnetOs, is commercialized in the US and UK for use in posterolateral spinal fusions. Kuros’s lead product in development, Fibrin PTH, a drug-biologic combination for spinal interbody fusion, is entering a phase 2a clinical trial in the U.S. Kuros is located in Schlieren (Zurich), Switzerland, Bilthoven, The Netherlands and Burlington (MA), U.S.A. The Company is listed according to the International Reporting Standard on the SIX Swiss Exchange under the symbol KURN. Visit www.kurosbio.com for additional information on Kuros, its science and product pipeline. Lubbers Medical BV Based near Heerenveen (NL), Lubbers Medical Services BV is an independent specialized agent focused solely on bone graft materials, with more than 15 years of experience in selling and clinical application of orthobiologics products to orthopedic surgeons, trauma surgeons and neurosurgeons. Orthocontor AGOrthocontor was founded in 2014, in Eichberg, based on more than 18 years of experience in the medical device field. The company specializes in innovative spine products, with a strong surgical network across Switzerland. Amacord GmbHEstablished in 2007, with its headquarter in Vienna, Austria Amacord focuses on products for spine surgery and interventional cardiology. Next to kyphoplasty and vertebroplasty implants, pedicle screws and rods, MagnetOs will complete their spine portfolio. Forward Looking Statements This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words “will” or “expect” or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors, Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.