Kuros Biosciences Reports First Half of 2024 Results

Schlieren (Zurich), Switzerland - Kuros Biosciences announced its financial results for the first half of 2024, highlighting significant growth in sales and profitability. Revenue from MagnetOs sales surged by 159% to CHF 31.6 million, compared to CHF 12.2 million in H1 2023. The overall sales of the Kuros Medical Devices segment also increased by 148%, reaching CHF 31.8 million.

The company reported a substantial improvement in EBITDA for the Medical Devices segment, rising 287% to CHF 8.6 million. The total Kuros Group achieved an EBITDA of CHF 0.7 million, a turnaround from a CHF (3.0) million loss in the same period last year. Adjusted EBITDA excluding specific costs totaled CHF 4.0 million.

Kuros' peer-reviewed clinical study in Spine confirmed the efficacy of MagnetOs as a superior alternative to autograft in posterolateral fusions. The company also reported new FDA clearances and product launches in New Zealand.

Looking ahead, Kuros expects continued financial stability and positive EBITDA growth in the second half of 2024, backed by solid seasonal sales patterns and strong cash flow management.