New Risk • Feb 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (€1.35m market cap, or US$1.41m). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Currently unprofitable and not forecast to become profitable over next 3 years (€1.9m net loss in 3 years). Price Target Changed • Feb 14
Price target decreased by 73% to €0.08 Down from €0.30, the current price target is provided by 1 analyst. New target price is 49% above last closing price of €0.054. Stock is down 91% over the past year. The company is forecast to post a net loss per share of €0.14 next year compared to a net loss per share of €0.29 last year. Announcement • Nov 29
Bbs-Bioactive Bone Substitutes plc Announces Resignation of Production Director Kimmo Tyni from the Company BBS -Bioactive Bone Substitutes Plc announced that Production Director and the member of management team Kimmo Tyni has decided to resign from BBS and move to a new position outside the Company. Tyni will continue in his position until
December 31, 2024. Announcement • Aug 09
BBS-Bioactive Bone Substitutes Oyj to Report Fiscal Year 2024 Results on Feb 21, 2025 BBS-Bioactive Bone Substitutes Oyj announced that they will report fiscal year 2024 results on Feb 21, 2025 Announcement • Jun 06
BBS-Bioactive Bone Substitutes Plc Announces Approval of Complementary Patent Application for the ARTEBONE® Product BBS-Bioactive Bone Substitutes Plc's complementary patent application for “A METHOD FOR PREPARING A BONE PROTEIN PREPARATION AND A BONE PROTEIN PREPARATION” have been approved in the United States. These claims are related to ARTEBONE®-product and its use in the treatment method. The Company will notify the US patent office that it approves the decision. The patent office will grant the patent after the approval of the Company. Announcement • May 24
BBS-Bioactive Bone Substitutes Plc Announces Ahti Paananen Not Available for Re-Election to the Board of Directors BBS-Bioactive Bone Substitutes Plc announced that Ahti Paananen has informed that he is not available for re-election to the board of directors at its Annual General Meeting to be held on 13 June 2024. Announcement • Apr 03
BBS-Bioactive Bone Substitutes Oyj, Annual General Meeting, May 14, 2024 BBS-Bioactive Bone Substitutes Oyj, Annual General Meeting, May 14, 2024. Announcement • Jan 02
Bbs-Bioactive Bone Substitutes plc Appoints Kimmo Tyni as Product Director, effective January 15, 2024 BBS-Bioactive Bone Substitutes Plc has appointed Kimmo Tyni (B. Sc. Tech.) as Product Director as of 15.1.2024. The current Product Director Jussi Jukka will transfer from company’s service, to outside of BBS. Tyni will work as a member of the management team of BBS and report to the CEO. Tyni has previous experience in manufacturing processes of medical devices and the standards governing them. He has also worked in companies similar to BBS, where a company is transitioning from a product development to commercial manufacturing. Announcement • Nov 22
BBS-Bioactive Bone Substitutes Oyj has filed a Follow-on Equity Offering in the amount of €2.631392 million. BBS-Bioactive Bone Substitutes Oyj has filed a Follow-on Equity Offering in the amount of €2.631392 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 6,578,481
Price\Range: €0.4
Transaction Features: Rights Offering Announcement • Oct 05
BBS-Bioactive Bone Substitutes Plc Announces CEO Changes BBS-Bioactive Bone Substitutes Plc announced a strategic leadership transition, appointing Juliusz Rakowskias the new Chief Executive Officer (CEO), effective 3 November 2023. The Company and the current CEO Ilkka Kangasniemi have mutually agreed that he will continue to offer his insights and expertise to the company in an advisory capacity. The appointment signifies the company's on-going transition from research and development to a commercial phase, as the approval of the CE marking of the Company's first product (ARTEBONE® Paste) is expected during Q2/2024. Juliusz Rakowski brings a strong track record of leadership and a deep understanding of product sales processes in the life science industry to BBS. With over 15 years of commercial experience in relevant industry roles, he is poised to lead BBS into its next phase of product launch, building the distribution network and market expansion. Announcement • Aug 26
BBS-Bioactive Bone Substitutes Oyj to Report Fiscal Year 2023 Results on Feb 22, 2024 BBS-Bioactive Bone Substitutes Oyj announced that they will report fiscal year 2023 results on Feb 22, 2024 Announcement • Feb 14
BBS-Bioactive Bone Substitutes Applies for the Delisting of Secondary Listing on Nasdaq First North Growth Market Sweden BBS-Bioactive Bone Substitutes Oyj announced that following the earlier announcement made on 4 November 2022, the company has on February 13, 2023 applied for the delisting of its shares from Nasdaq First North Growth Market Sweden (‘Nasdaq FN GM Sweden’). The Board of directors has taken into account the low level of trading activity of the Company's shares since its listing on the Exchange in 2018, as well as the limited number of shareholders registered with Euroclear Sweden AB. The Board has also evaluated the additional expenses associated with maintaining a secondary listing for a company of its size and the administrative responsibilities entailed by complying with the listing requirements of multiple markets. The Company wants to remind its shareholders holding their shares through Euroclear Sweden AB that even while the listing of its shares on Nasdaq FN GM Sweden will be discontinued, such shareholders can continue trading in BBS’ shares on Nasdaq First North Growth Market Finland by first arranging for the cross-border settlement of their shares into the book-entry system maintained by Euroclear Finland Oy. To effectuate cross-border settlement, the shareholder should contact their respective custodian. Some custodians will automatically do the settlement, and others will activate the cross-border settlement after approval by the shareholder. The Company expects the final day of trading on Nasdaq First North Growth Market Sweden to occur on 6 March 2023. The company will provide additional details regarding the delisting following a decision from Nasdaq Sweden on the application. Following the delisting from Sweden, BBS-Bioactive Bone Substitutes’s shares will be traded solely on Nasdaq First North Growth Market Finland in Euro and under the trading code: BONEH. Announcement • Nov 05
BBS-Bioactive Bone Substitutes Announces Plans to Withdraw Its Dual Listing on Nasdaq First North Growth Market Sweden BBS-Bioactive Bone Substitutes Oyj's (”BBS”) Board of Directors has decided on November 4, 2022, that the company will initiate preparations to withdraw its dual listing on Nasdaq First North Growth Market Sweden (the "First North Sweden"), as it focuses on the listing on Nasdaq First North Growth Market Finland ("First North Finland"). The formal withdrawal application will be submitted to Nasdaq no earlier than three months from November 4, 2022. The reason for the withdrawal is the low trading volume on the First North Sweden. Therefore, the Board aims to concentrate all trading on a single market, First North Finland, to increase trading and thereby give the shareholders better opportunities to buy and sell shares in the company. Announcement • Sep 01
BBS-Bioactive Bone Substitutes Oyj Announces Resignation of Liisa Hukka, CFO BBS-Bioactive Bone Substitutes Oyj's CFO and member of the management team, Liisa Hukka, has announced that she is leaving the company to take on new challenges outside the company. She will stop her work during September 2022. Announcement • Aug 08
Bbs-Bioactive Bone Substitutes Oyj Announces Changes in the Management Team BBS-Bioactive Bone Substitutes Plc's (BBS) Chief Operating Officer (COO) and member of the Management Team, Hanna Tölli, will take a personal leave from August 8, 2022 to October 23, 2023. Jussi Jukka, who currently works as a production manager at BBS, has been appointed the new Head of Production and member of the Management Team as of August 8, 2022. Board Change • May 04
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Seppo Nevalainen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 02
BBS-Bioactive Bone Substitutes Plc Elects Ahti Paananen as A New Member BBS-Bioactive Bone Substitutes Plc announced that at its Annual General Meeting 2022 held on April 28th 2022, Ahti Paananen was elected as a new member. Announcement • Jan 12
BBS-Bioactive Bone Substitutes Oyj Announces US Patent for the Manufacture of Artebone Product BBS-Bioactive Bone Substitutes Plc announced US Patent for the Manufacture of ARTEBONE® product, As announced in November 17 2021 release “A METHOD FOR PREPARING A BONE PROTEIN PREPARATION AND A BONE PROTEIN PREPARATION”, after the approval of the patent application for manufacturing claims of BBS-Bioactive Bone Substitutes Plc's, this patent has now been granted in the United States on January 11, 2022. Announcement • Apr 27
BBS-Bioactive Bone Substitutes Oyj Announces Submission of CE Marking Application for Artebone® Products Moves to August The management of BBS-Bioactive Bone Substitutes Plc has changed its estimate regarding the submission date of the ARTEBONE® products CE marking application. The company expects to submit the application during August this year. Earlier, the company had estimated that the application could be submitted during April this year. The delay is due to equipment, material and service deliveries to Oulu laboratory and Reisjärvi factory being delayed significantly due to the COVID-19 situation. Repairing a detected structural fault in Reisjärvi factory’s clean room has delayed the start of the validation process. In addition, the results from the animal testing have been delayed significantly. The delays are causing similar delays to the forecast CE marking approval schedule. Notified Bodies’ application processing times have been prolonged due to MDR regulation. It is still unclear to what extent prolongation of processing times may result in a delay in the CE marking approval process. Is New 90 Day High Low • Feb 26
New 90-day low: €3.52 The company is down 28% from its price of €4.90 on 27 November 2020. The Finnish market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 1.0% over the same period. Executive Departure • Feb 04
Chief Financial Officer has left the company On the 1st of February, Hannu Säynäjäkangas' tenure in the role of Chief Financial Officer ended. We don't have any record of a personal shareholding under Hannu's name. A total of 2 executives have left over the last 12 months. Announcement • Feb 02
BBS-Bioactive Bone Substitutes plc Announces Executive Changes BBS-Bioactive Bone Substitutes Oyj announced that Liisa Hukka from Talenom Plc. has been appointed chief financial officer (CFO) of the company. Hukka will take up her position on 1 February, 2021, when the Company’s current CFO Hannu Säynäjäkangasretires. Hukka works on BBS’ Management Team and reports to the CEO. For the past 5 years, Hukka has worked as a financial administration consultant at Talenom. Prior to that, she worked as CFO at Nestor Cable and in various financial management and business support positions at the Dutch Draka Holding BV Group. Is New 90 Day High Low • Jan 26
New 90-day low: €3.88 The company is down 6.0% from its price of €4.14 on 27 October 2020. The Finnish market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 11% over the same period. Announcement • Jan 12
BBS-Bioactive Bone Substitutes plc Estimates That the Company Will Receive the CE Marking for the Artebone® Product Designed to Heal Bone Fractures and Damages During 2021 BBS-Bioactive Bone Substitutes Plc estimated that the Company will receive the CE marking for the ARTEBONE® product designed to heal bone fractures and damages during 2021. The obtaining of the CE marking will be delayed from the previous schedule about 9 months and will cause the additional expenses of approximately EUR 300.000. The Company intends to submit the application for processing in approximately April. In July 2020 BBS received the draft agreement concerning the implementation of CE marking process of ARTEBONE® from Notified Body (BSI). The Company began preparations to submit CE marking application and documents required by the agreement processing as soon as possible. At a general level, the Covid-19 pandemic has caused delays and made the operating environment more difficult. During autumn, the ongoing commissioning of new Medical Device Regulation (MDR) in Europe has highlighted significant number of unfinished documents, quality tests and qualifications of production equipment in the Company. In addition, the Notified Body demands that all documents must be ready for submission at the same time with the CE marking application, whereas according to previous practice, the application could be supplemented during the application process. Furthermore, the further measurements of the animal experiment required by the authority have had to wait longer than expected (The company announcement 7 August 2020). The Company has initiated efforts to remedy the situation. The Company has entered into purchasing service agreements with third parties to speed up the production and updating of the necessary documents. In addition, three people have been hired to support the activities of the quality department so far. At a later stage, these individuals move to other positions within the Company. The product approval schedule has naturally changed. The Company’s current management has assessed a new timetable for obtaining the CE marking. Currently, the Company intends to submit the application for processing in approximately April 2021. Thus, the approval of the CE marking is expected to be completed by the end of 2021, approximately 9 months later than the previously estimated schedule. The Board's assessment of the factors affecting the timing of the approval process is that the ongoing significant reform of the regulatory process guidelines has caused major changes to the level of documentation requirements. A new quality director was hired for the Company in August, who has begun vigorously supplementing the necessary documents. According to the CEO's estimate, the additional expenses of the changes will be approximately EUR 300.000. The current management of the Company has formed a new schedule estimate after learning of all the shortcomings. Announcement • Nov 10
BBS-Bioactive Bone Substitutes Plc Announces Whole Patent Regarding the Product ARTEBONE® Has Been Accepted in the USA BBS-Bioactive Bone Substitutes Plc’s patent application ”A METHOD FOR PREPARING A BONE PROTEIN PREPARATION AND A BONE PROTEIN PREPARATION” has now been accepted in the USA. Earlier in spring (7.4.2020) the company announced the acceptance of the same patent concerning the product. Now the ARTEBONE® product and its unique component, bone protein extract, are protected by patents around all major market areas globally. Is New 90 Day High Low • Nov 06
New 90-day low: €3.96 The company is down 7.0% from its price of €4.26 on 07 August 2020. The Finnish market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 1.0% over the same period. Announcement • Sep 01
BBS-Bioactive Bone Substitutes Oyj to Report Fiscal Year 2020 Results on Mar 20, 2021 BBS-Bioactive Bone Substitutes Oyj announced that they will report fiscal year 2020 results on Mar 20, 2021