Kuros increases MagnetOs sales by 159 percent

The Schlieren-based biotech company Kuros Biosciences has announced its financial results for the first half of 2024 in a press release. Direct sales of the bone graft MagnetOs increased by 159 percent to 31.6 million Swiss francs in the first six months of 2024 compared to 12.2 million in the first half of 2023.

Kuros Medical Devices' total product sales amounted to CHF 31.8 million in the first quarter of 2024, compared to CHF 12.9 million in the first half of 2023. The entire Kuros Medical Devices segment achieved a positive EBITDA.
This increased by 287% to CHF 8.6 million in the first half of 2024, compared to CHF 2.2 million in the first half of 2023, which corresponds to an EBITDA margin of 27%.

The Kuros Group generated EBITDA of CHF 0.7 million in the first half of the year, compared to an EBITDA loss of CHF 3 million in the first half of 2023. Adjusted EBITDA excluding the costs for Fibrin-PTH, recurring and one-time share-based payments amounted to 4.0 million Swiss francs, corresponding to an adjusted EBITDA margin of 12.5 percent, according to the Kuros statement.

Cash and cash equivalents amounted to CHF 14.3 million, almost the same as the previous year's figure of CHF 14.2 million.
Available funds, including trade receivables and other receivables, amounted to CHF 25.3 million as at June 30, 2024.

Kuros Biosciences AG is a spin-off from the University of Zurich (UZH) and the Swiss Federal Institute of Technology Zurichv (ETH). The company is based in the Bio-Technopark Schlieren-Zurich. ce/gba