Kuros Biosciences lifts 2026 guidance after 40% sales rise
Kuros Biosciences has raised its full-year 2026 guidance after reporting a 40% year-on-year increase in medical device sales for the first nine months of the year. Total sales reached USD 141.8 million for the period, up from USD 101.1 million in the equivalent period of 2025. The Schlieren-based company, listed on the SIX Swiss Exchange, now expects full-year revenue growth of 36% to 40% and an adjusted EBITDA margin of more than 14.5%.
Group EBITDA for the nine-month period rose 81% to USD 13.5 million, while adjusted EBITDA, which excludes share-based compensation, certain social security charges, and temporary tariff-related costs, climbed 68% to USD 20.6 million, representing a margin of 14.5% against 12.1% a year earlier. The company's cash position stood at USD 19.6 million as of the end of September, up from USD 9.7 million at 30 June 2026, which management described as ahead of plan.
Manufacturing expansion
A notable operational milestone is the activation of Kuros' second production site in Alpharetta, Georgia, which began commercial production of MagnetOs bone graft in October 2026. Combined with the existing Bilthoven facility in the Netherlands, this gives Kuros dual-site manufacturing capacity and, crucially, production within its largest single market. The move is designed to strengthen supply-chain resilience and support further volume growth as the commercial footprint expands across spine and extremity indications.
Chief executive Chris Fair said the performance through the first nine months reflected "continued revenue growth, record adjusted EBITDA, increasing profitability and a cash position ahead of plan," adding that the Georgia facility was delivered on time and on budget.
Clinical trial progress
Three Level I prospective clinical trials are running concurrently. The PROOF study, evaluating MagnetOs in posterolateral spinal fusion, has reached 97% enrolment. PRECISE, a second posterolateral fusion study, has passed its halfway mark at 55% enrolment. ASTRA, which covers hindfoot and ankle fusion, is at 18% enrolment. Together, these trials are intended to extend the clinical evidence base for MagnetOs beyond the published Level I data from a 2024 Spine study, which reported a fusion rate of 79% versus 47% for autograft in posterolateral fusions, though the company notes that radiographic data for subgroups such as active smokers were not statistically analysed as part of that peer-reviewed publication.
MagnetOs is positioned around a proprietary submicron surface technology called NeedleGrip, which Kuros says engages the immune system to stimulate bone growth without added cells or biological growth factors. The product is FDA-cleared across a range of spine and extremity indications.
Market context
The advanced bone graft market has attracted sustained commercial and clinical interest over the past decade, with synthetic and biologic alternatives to autograft increasingly displacing traditional harvest-site procedures. Competitors in the space include larger orthopaedic groups with established bone graft portfolios, alongside specialist companies developing growth-factor-based and cell-augmented solutions. Kuros' strategy of building a pure-play commercial business around a single platform, backed by prospective Level I evidence, differentiates it from peers that rely on lower-quality observational data. Should the PROOF and PRECISE trials read out positively, the resulting peer-reviewed publications could support further penetration in the United States, where the company now manufactures locally. Investors will be watching the pace of enrolment completion in all three trials as the most significant near-term value inflection point beyond quarterly commercial performance.