Bioventus Inc. (BVS) shares jumped 5.26% in after-hours on Thursday, June 24, 2021, and closed at $19.00 per share. Earlier in the morning session, BVS’s stock gained 0.61% to close Thursday’s session at $18.05 per share. BVS shares have moved up by 0.56% in the past week. Over the past three months, the stock has gained 10.67%. The company has a current market of $1.05 billion and its outstanding shares stood at 41.80 million.
Upcoming financial results announcement
Bioventus Inc will be announcing financial results for the second quarter of the fiscal year 2021 on Tuesday, August 10, 2021, after the market closes.
Recent investment in Vaporox
On June 24, 2021, Bioventus Inc completed a minority investment in Vaporox, Inc.
Vaporox was founded in 2016 and is based in Denver, Colorado. Vaporox has developed a patented, ultrasonic technology, Vaporous Hyperoxia Therapy that has demonstrated the ability to heal approximately 85% of DFUs that were unresponsive to the current standard of care.
Demonstration of PTP-001beneficial growth factors
On May 25, 2021, Bioventus Inc announced human placental tissue, prepared as a particulate composition, termed PTP-001, was shown to contain an array of beneficial growth factors, cytokines, and anti-inflammatory molecules, which significantly reduced pain and cartilage degeneration in rat osteoarthritis (OA) model. These findings were published on May 19, 2021, in Osteoarthritis and Cartilage.
Participation in the recent investor conferences
Bioventus Inc senior management recently participated at the Goldman Sachs 42nd Annual Global Healthcare Conference which held on Wednesday, June 9, 2021.
Bioventus Inc senior management was also present at the Canaccord Genuity Virtual Musculoskeletal Conference which held on Thursday, May 20, 2021.
Recent financial results announcement
On May 12, 2021, Bioventus Inc released its financial results for three months ended April 3, 2021.
Q1 2021 financial highlights
- The company reported net sales of $81.8 million for Q1 2021 compared to $78.65 million in Q1 2020.
- Gross profit was $59.6 million in Q1 2021 compared to $57.2 for the first quarter of 2020.
- In Q1 2021, operating income was $22.0 million, compared to $13.0 million for the first quarter of 2020.
- Net Income of $24.5 million for Q1 2021 compared to $10.5 million, for the first quarter of 2020.
- In Q1 2021, Non-GAAP net income was $35.4 million, compared to $18.1 million, for the first quarter of 2020.
- Adjusted EBITDA was $11.1 million in Q1 2021 compared to $14.2 million for the first quarter of 2020.
Conclusion
The completion of the investment in Vaporox could be the reason behind its good performance on Thursday and BVS can end the week with a continued surge on Friday as well.
