Kuros Biosciences Ltd

Latest Results (16.01.2025):

Revenue Growth

In the first half of 2024, Kuros Biosciences Ltd reported a significant increase in revenue from direct MagnetOs product sales, which rose by 159% to CHF 31.6 million compared to CHF 12.2 million in the first half of 2023. Total revenue from product sales reached CHF 31.8 million, marking a year-over-year growth of 148% or 157% on a constant currency basis.

Net Operating Costs

Kuros Biosciences Ltd's net operating costs for the first half of 2024 amounted to CHF 28.9 million, up from CHF 15.3 million in the same period of 2023. This increase was primarily driven by higher sales and marketing expenses, which rose to CHF 18.5 million due to an expanded sales force and increased distribution costs.

Net Loss Reduction

The company reported a net loss of CHF 0.2 million for the six months ended June 30, 2024, a significant improvement from the CHF 5.1 million net loss recorded in the first half of 2023. This reduction in net loss was largely attributed to increased revenue from product sales.

Financial Position

As of June 30, 2024, Kuros Biosciences Ltd had cash and cash equivalents totaling CHF 14.3 million, slightly up from CHF 14.2 million at the end of 2023. The total funds available for financing operations, including trade and other receivables, amounted to CHF 25.3 million, compared to CHF 21.8 million as of December 31, 2023.

EBITDA Improvement

Kuros Biosciences Ltd reported an EBITDA of CHF 719,000 for the first half of 2024, a notable improvement from the negative CHF 2.995 million in the same period of 2023. The adjusted EBITDA, which excludes one-time and non-recurring expenses, was CHF 3.988 million, reflecting the company's enhanced operational performance.