Kuros reports Corporate Highlights as of Q1 2024 including increase in direct MagnetOsTM sales

Kuros Biosciences AG / Key word(s): Quarter Results/Regulatory Approval Kuros reports Corporate Highlights as of Q1 2024 including increase in direct MagnetOsTM sales 24-Apr-2024 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Financial Highlights

• Direct MagnetOs sales rose by 155% to CHF 13.9 million in Q1 2024 from CHF 5.4 million in Q1 2023; this corresponds to a sequential increase of 21.9% or CHF 2.5 million over Q4 2023 
• Total Kuros Medical Devices segment sales accelerated to CHF 13.9 million in Q1 2024 from CHF 5.6 million in Q1 2023
• Kuros Medical Devices segment achieved a positive EBITDA of CHF 3.9 million in Q1 2024 compared to CHF 0.5 million in Q1 2023
• Cash and cash equivalents amounted to CHF 13.7 million, funds available (including trade and other receivables) totaled CHF 23.5 million as of March 31, 2024

Regulatory, Clinical & Commercial Highlights

• MagnetOs Putty is the fourth product in the MagnetOs portfolio to receive FDA 510(k) clearance to market for interbody use
• A recently published independent clinical study utilizing MagnetOs Putty in lumbar interbody fusion procedures demonstrated 86% fusion rate, which included 49% of study subjects in a high-risk patient cohort
• G. Joseph (Joe) Ross appointed as Senior Vice President Marketing and Business Development, expanding the Kuros Leadership Team and providing significant industry experience

Schlieren (Zurich), Switzerland, April 24, 2024 – Kuros Biosciences (“Kuros”), a leader in advanced bone healing technologies, today announced its financial performance for the first quarter of 2024. Direct sales of MagnetOs rose 155% in the first three months of 2024, to CHF 13.9 million from CHF 5.4 million, compared to the same period in 2023. Total product sales from all Kuros Medical Devices were CHF 13.9 million in Q1 2024, compared to CHF 5.6 million in Q1 2023. MagnetOs overachieved its commercial plan in the first quarter of 2024, and the overall Kuros Medical Devices segment achieved a positive EBITDA of CHF 3.9 million in Q1 2024 compared to CHF 0.5 million in Q1 2023.