Kuros Biosciences Reports Remarkable Sales Growth in 2023

Kuros Biosciences AG, a leading force in bone graft technologies, has unveiled its financial results for the year 2023, demonstrating a significant upswing in its business operations. Financially, the standout feature of the year was a 163% surge in direct sales of MagnetOs, which amounted to CHF 31.7 million, up from CHF 12.1 million the previous year. Likewise, the company's total medical device sales experienced a notable 153% jump to CHF 33.6 million. This growth was underpinned by the Medical Devices segment's positive EBITDA of CHF 6.8 million. The company's cash position, including cash equivalents and available funds, represented a solid financial footing with CHF 21.8 million at year-end.

Operational highlights reveal the significant impact of MagnetOs in the medical field, having treated over 25,000 patients. Clinical trials highlighted its efficacy, notably surpassing the gold standard autograft in spinal fusion operations. The product also secured FDA clearance for interbody use, marking a significant regulatory milestone. This follows a strategic decision by the company to discontinue Fibrin-PTH in light of these successes, further focusing its resources.

Looking forward, Kuros is optimistic about maintaining its growth trajectory into 2024. The company anticipates continued strong sales performance and operational efficiency will lead to its first positive single-digit EBITDA, excluding the costs associated with Fibrin-PTH.