Focus points for upcoming CMD

研报英文原文证据摘录

Focus points for upcoming CMD

Equity Research - 20 May 2026 18:19 CEST

Fast commentBONESUPPORT

Focus points for upcoming CMD BUY

• Market opportunity for CERAMENT in focus at CMD Healthcare

• Feedback from KOLs and clinical updates BONEX-SE/BONEX SS

• Provide support for strong growth case Share price (SEK) 19/5/2026 258.60

CMD in 26 May in Stockholm Target price 415.00

We expect BONESUPPORT's management to focus on the market

opportunity for its CERAMENT platform of products at its upcoming MCap (SEKm) 17,265

CMD in Stockholm on 26 May. Rather than providing a mid- to long- MCap (EURm) 1,593

term growth target, we expect management to provide an update on the No. of shares (m) 65.9

market opportunity, based on number of potential treatments for various

Free float (%) 85.5

clinical application areas and the current penetration/adoption rates in

Av. daily volume (k) 124the US, and the competitive landscape, in order to better understand how

sustainable the high growth rate is. We also expect to get an update on

the geographical expansion and the opportunities outside the US market Next event Q2 report 16 July 2026

given the recent expansion into new geographical markets like Australia,

Canada and India. Analyst:

sten.gustafsson@abgsc.se, +46 8 566 286 25

Clinical development and feedback from KOLs

Two KOLs will provide feedback on CERAMENT in revision arthoplasty

and in trauma, two relatively new application areas for CERAMENT G that

has expanded the targeted market opportunity for BONESUPPORT. We

also expected to get an update on the pending approval for CERAMENT

V in the US and the potential expansion into the US spine market for

CERAMENT G. We have assumed CERAMENT V to be approved in

the US during H2'26, but not to contribute much in terms of sales in

'26.