Bioventus files CartiHeal audited financials: 2021 net loss $10.2M, zero revenue

Bioventus Inc.

CartiHeal had $0 revenue in 2021; net loss $10.2M; accumulated deficit $67.7M.
R&D expenses $7.8M; cash and equivalents $4.9M at Dec 31, 2021.
Acquisition closed July 12, 2022 for ~$315M upfront plus up to $135M in sales milestones.
Unaudited pro forma combined financials reflect acquisition for six months ended July 2, 2022 and FY 2021.
CartiHeal's Agili-C implant received FDA PMA in March 2022; pre-launch inventory provision of $642K reversed.

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