#Checkmate pharmaceuticals full#
#Checkmate pharmaceuticals trial#

#Checkmate pharmaceuticals trial#

Fibrin-PTH is undergoing a Phase 2 clinical trial in the US as part of a de-risked pre-market clinical program. Fibrin-PTH is the first ever investigational drug-biologic candidate to be evaluated for spinal fusion and the first to be compatible with narrow gauge cannulas for truly non-invasive surgical procedures. The latest candidate in our pipeline is based on proprietary controlled-release technology that combines the well-established mechanism of the bone growth factor parathyroid hormone (PTH) with the natural healing matrix known as fibrin.§ Once implanted, the released PTH promotes spinal fusion by increasing the number and lifespan of bone-forming (osteogenic) cells in the fusion space.

#Checkmate pharmaceuticals full#

Please refer to the instructions for use for your local region for a full list of indications, contraindications, warnings, and precautions. But for surgeons and their patients it means one thing: a more efficient and predictable fusion. *3-5 The growing body of science behind NeedleGrip is called osteoimmunology. *1,2 This in turn, unlocks previously untapped potential to stimulate stem cells - and form new bone throughout the graft. It grows bone even in soft tissue thanks to our unique NeedleGrip surface technology which provides traction for our bodys vitally important pro-healing' immune cells (M2 macrophages). Kuros is financed to accelerate the commercial roll-out of MagnetOs in the US and to complete the Phase II clinical study of Fibrin-PTH in spine, with the first data expected to be available by mid-2023. Kuros products are advancing according to plan, with MagnetOs generating sales in the US and in Europe and expected to become cashflow positive early 2023. The net loss for the first half of 2022 amounted to CHF 3.7 million, compared to CHF 0.1 million for the first half of 2021. Other income amounted to CHF 0.1 million (2021: CHF 0.1 million) and mainly consisted of patent recharges to Checkmate. Research and development costs amounted to CHF 2.5 million (2020: CHF 2.5 million), and primarily included costs for the ongoing clinical Phase II trial of Fibrin-PTH and personnel. Operating costs increased to CHF 10.9 million (2021: CHF 8.6 million) primarily due to increased marketing and sales costs of CHF 5.4 million (2021: CHF 3.5 million), including personnel and other marketing costs. The companys revenues amounted to CHF 10.4 million (2021: CHF 9.1 million), originating from product sales and collaborations. Financial positionĬash and cash equivalents (including trade and other receivables) as of June 30, 2022, amounted to CHF 29.4 million, compared to CHF 30.7 million as of December 31, 2021. Our cash position has also been bolstered by a USD 5 million milestone as a result of Checkmate Pharmaceuticals acquisition by Regeneron Pharmaceuticals, with a further potential additional income of USD 164 million. The impressive sales growth of MagnetOs confirms our transformation into a commercial company and our clinical programs are progressing well. Joost de Bruijn, Chief Executive Officer, said: The Kuros team has again delivered an outstanding performance, making significant progress at all fronts in the first half of 2022. Schlieren (Zurich), Switzerland, AugKuros Biosciences AG (Kuros or the Company), a leader in next generation bone graft technologies, reported a 58% increase in sales in the first six months of 2022 and continued to enroll patients in the Phase II spine study for Fibrin-PTH, confirming its successful transition into a fully-fledged orthobiologics company with scientific, clinical, and commercial excellence in bone regeneration. USD 5 million milestone recognized by Kuros, trigged by acquisition of Checkmate Pharmaceuticals by Regeneron Pharmaceuticals MagnetOs Easypack Putty launched in the US in May 2022įavorable preliminary results of MagnetOs as standalone alternative to autograft in first randomized controlled trial Product sales increased by 58% to CHF 5.7 millionįDA cleared MagnetOs Flex Matrix for spinal indications Ad-hoc announcement pursuant to Article 53 of the SIX listing rules

The issuer is solely responsible for the content of this announcement. Kuros Biosciences reports results for the first six months of 2022