Ad hoc announcement pursuant to Article 53 of the SIX listing rules
Kuros Biosciences reports 51% year-over-year increase in sales in the first three months of 2026
Financial Highlights
- Total product sales rose by 51% to USD 43.4 million (Q1 2025: USD 28.8 million)
- Direct MagnetOs™ product sales increased by 51% to USD 42.9 million (Q1 2025: USD 28.4 million)
- Group EBITDA reached USD 2.9 million (Q1 2025: EBITDA of USD 2.0 million)
- Group adjusted EBITDA* amounted to USD 5.7 million, equaling a margin of 13.1% (Q1 2025: USD 3.3 million at 11.6%)
- Cash and cash equivalents totaled USD 15.7 million, compared to USD 19.8 million as of December 31, 2025, reflecting investments in the diversification and optimization of production capacity to support long-term growth
Clinical & Operational Highlights
- Kuros continued to achieve significant progress in its extremities segment along with strong adoption of MagnetOs MIS in minimally invasive surgeries, reflecting broader adoption across various specialties in multiple care settings
- A retrospective study led by Dr. Mark Eskander was published in Spine Open and reported an overall fusion rate of 87% for MagnetOs Easypack Putty in a high-risk patient population assessing 70 posterior lumbar fusion patients, with an 84.2% fusion rate in patients assessed at <6 months postoperative1
- U.S. headquarters and manufacturing facility in Alpharetta, Georgia, is on track to begin production in second half of 2026, while the Bilthoven, Netherlands facility expansion and optimization is progressing according to plan
Chris Fair, Chief Executive Officer of Kuros Biosciences, said: "Kuros is off to a strong start in 2026, building on the momentum following a record-breaking 2025. Our commercial execution remained strong in the first quarter, and we delivered USD 43.4 million in product sales, EBITDA of USD 2.9 million and adjusted EBITDA of USD 5.7 million. At the same time, we see strong demand across spine and our growing extremities business, reflecting broader surgeon confidence in MagnetOs across indications. Our clinical story continues to strengthen, with three Level I clinical trials actively enrolling and the recently published Eskander study confirming that MagnetOs performs at early timepoints even in high-risk patient populations. Additionally, with the progress of our Atlanta facility on schedule, we are accelerating into the second quarter of 2026 with confidence.”
Schlieren (Zurich), Switzerland, April 14, 2026 – Kuros Biosciences (“Kuros” or the “Company”) a leader in next generation bone healing technologies, today announced its financial performance for the first three months of 2026. Total product sales reached USD 43.4 million, up by 51% from USD 28.8 million in Q1 2025. Revenue from Direct MagnetOs product sales rose 51% in the first three months of 2026, to USD 42.9 million from USD 28.4 million in Q1 2025. The Group achieved an EBITDA of USD 2.9 million, up from USD 2.0 million in Q1 2025. After excluding import tariffs, recurring and one-time share-based compensation, and the associated social security charges, adjusted EBITDA reached USD 5.7 million, representing an adjusted EBITDA margin of 13.1% (Q1 2025: USD 3.3 million at 11.6%). At USD 15.7 million, cash and cash equivalents remained robust (Q4 2025: USD 19.8 million), alongside continued investments into the diversification and optimization of production capacity.
Strong growth in MIS and extremities: During the first quarter of 2026, Kuros continued to see strong commercial execution across both minimally invasive surgery (MIS) procedures and its growing extremities business. Adoption of MagnetOs bone graft across MIS applications reflects continued surgeon confidence in the product’s handling characteristics and clinical versatility, while demand in extremities procedures further broadened the Company’s multi-indication footprint. Together, these trends underscore Kuros’s progress in expanding MagnetOs beyond traditional open spine procedures and support sustained growth across a diversified mix of surgical applications.
Newly published early fusion outcomes (<6 months) in high-risk patients:1 A new retrospective study led by Mark Eskander, MD, Orthopedic Spine Surgeon, evaluated the fusion effectiveness of MagnetOs Easypack Putty bone graft with and without autograft. The study, published in Spine Open, reported an overall fusion rate of 87% for MagnetOs in a high-risk patient population assessing 70 posterior lumbar fusion patients. A fusion rate of 84.2% was demonstrated for patients assessed within six months postoperatively and 90.6% for those assessed after six months. There was no statistically significant difference between the two groups, revealing successful fusion of MagnetOs at early time points (<6 months). Among the study population, 91% of patients presented with one or more comorbidities, including heart disease, obesity, respiratory disease, and diabetes, providing real-world evidence of MagnetOs performance in high-risk patient populations.
Manufacturing expansion progress: Kuros continues to make significant progress on its global manufacturing expansion strategy. The Company’s new U.S. headquarters and manufacturing facility in Alpharetta, Georgia, remains on track to be operational in the second half of 2026. The new facility is expected to reduce supply chain risk and strengthen proximity to key U.S. markets. In parallel, the Company’s Bilthoven facility in the Netherlands continues to scale, further advancing Kuros’s dual-site manufacturing platform to support long-term revenue growth.
For further information, please contact:
| Alexandre Müller | Daniel Geiger |
| Investor Relations | Chief Financial Officer |
| Tel +41 43 268 32 31 | Tel +41 44 733 47 41 |
| IR@kurosbio.com | daniel.geiger@kurosbio.com |
About MagnetOs
Growing bone with MagnetOsTM gives surgeons confidence where it matters most – delivering predictable fusion outcomes.2 In a Level I human clinical study published in Spine, MagnetOs achieved nearly twice the fusion rate of autograft (79% vs. 47%) in posterolateral fusions (PLFs).2 Among active smokers – who made up 1 in 5 patients – the fusion difference between MagnetOs and autograft was even more dramatic.†2,3 MagnetOs grows bone on its own thanks to NeedleGripTM – a proprietary submicron surface technology that harnesses the immune system to stimulate bone growth, without added cells or growth factors.‡4-6 Ready-to-use, easy to mold, and reliably staying put, MagnetOs carries no intrinsic risk of human tissue-related disease transmission and is FDA cleared for use throughout the spine, including interbody procedures.§7-12 Additionally, MagnetOs Granules, MagnetOs Putty, MagnetOs Easypack Putty and MagnetOs MIS are also cleared for use in the extremities and pelvis.8-11
Indications Statement
Please refer to the instructions for use for your local region for a full list of indications, contraindications, warnings, and precautions.
About Kuros Biosciences
Kuros Biosciences is on a mission to discover, develop, and deliver innovative biologic technologies. With locations in the U.S., Switzerland, and the Netherlands, the company is listed on the SIX Swiss Exchange. The company’s first commercial product, MagnetOsTM, is a unique advanced bone graft that has already been used across five continents. For more information on the company, its products, and pipeline, visit kurosbio.com.
Forward Looking Statements
This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words “will” or “expect” or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic, and financial factors. Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.
*Adjusted EBITDA excludes research and development costs incurred to complete phase 2a of Fibrin-PTH (KUR-113) (discontinued operation), recurring and one-time share-based compensation, the related social security charges, and temporary tariff-related cost. Management believes this supplemental measures provides useful information to investors by presenting the underlying operating performance of the business before the impact of newly introduced import duties. †19 of initial 100 patients were active smokers. Radiographic fusion data of the smoker subgroup were not statistically analyzed as a subgroup and were not included in the peer-reviewed publication of the study.1 ‡Results from in vivo or in vitro laboratory testing may not be predictive of clinical experience in humans. Please refer to the Instructions for Use for a full list of indications, contraindications, precautions, and warnings. MagnetOs is not cleared by the FDA or TGA as an osteoinductive bone graft. §MagnetOs must also be used with an intervertebral body fusion device cleared by FDA for use with a bone void filler. MagnetOs Flex Matrix must be hydrated with BMA and mixed with autograft in posterolateral spine and intervertebral disc space. MagnetOs Granules must be hydrated with blood in the intervertebral disc space.
1. Spoonmore, T., Sage, K., & Eskander, M. S. Spine Open. 2026;2:e0059. 2. Stempels, et al. Spine. 2024;49(19):1323-1331. 3. Van Dijk, LA. 24th SGS Annual Meeting (Swiss Society of Spinal Surgery). Basel, Switzerland. Aug 2024. 4. Van Dijk, et al. eCM. 2021;41:756-73. 5. Van Dijk, et al. J Immunol Regen Med. 2023;19:100070. 6. Duan, et al. eCM. 2019;37:60-73. 7. Data on file. MagnetOs Putty and MagnetOs Easypack Putty. 8. Instructions for Use (IFU) MagnetOs Granules (US). 9. Instructions for Use (IFU) MagnetOs Putty (US). 10. Instructions for Use (IFU) MagnetOs Easypack Putty (US). 11. Instructions for Use (IFU) MagnetOs MIS (US). 12. Instructions for Use (IFU) MagnetOs Flex Matrix (US).
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