Brief: Bioventus Files For Extension To File Form 10-Q For The Period Ended October 1, 2022

Bioventus

16/11/2022 22:59

Nov 16 (Reuters) - Bioventus Inc  BVS.O :
    * BIOVENTUS FILES FOR EXTENSION TO FILE FORM 10-Q FOR THE
PERIOD
ENDED OCTOBER 1, 2022
    * BIOVENTUS - AS RESULT OF RECENT DECLINE IN CO'S MARKET
CAPITALIZATION SUBSEQUENT TO ITS RESULTS FOR Q3  REQUIRES
ADDITIONAL TIME TO COMPLETE REVIEW
    * BIOVENTUS INC - REQUIRES ADDITIONAL TIME TO COMPLETE
REVIEW TO
ASSESS WHETHER A NON-CASH IMPAIRMENT CHARGE IS REQUIRED FOR Q3
OF 2022
    * BIOVENTUS INC - PRELIMINARY REVIEW INDICATES AN IMPAIRMENT
CHARGE IN RANGE OF $185 MILLION TO $205 MILLION FOR Q3
    * BIOVENTUS INC - SEEKING RESOLUTION RELATED TO VALIDITY OF
A
REVISED INVOICE RECEIVED SUBSEQUENT TO COMPANY'S Q3 EARNINGS
RELEASE
    * BIOVENTUS - INVOICE IS FOR REBATE CLAIMS FROM LARGE
PRIVATE
PAYER IN RELATION TO PAIN TREATMENTS VERTICAL
    * BIOVENTUS INC - INVOICE FOR REBATE LIKELY WILL ADVERSELY
AFFECT
COMPANY'S PREVIOUSLY ANNOUNCED Q3 2022 FINANCIAL RESULTS
    * BIOVENTUS INC - RECOGNITION OF ADDITIONAL REBATES MAY
IMPACT
BIOVENTUS' RECENTLY ANNOUNCED REVENUE GUIDANCE
    * BIOVENTUS INC - AT THIS TIME, COMPANY EXPECTS NO CHANGE IN
ITS
ADJUSTED EBITDA GUIDANCE FOR FULL YEAR 2022
    * BIOVENTUS - CONCLUDED THAT INTERNAL CONTROLS RELATED TO
TIMELY
RECOGNITION OF QTRLY REBATES WERE INADEQUATE SPECIFICALLY FOR
PERIOD ENDED OCT 1, 2022
    * BIOVENTUS- EVALUATING IF CO WILL BE ABLE TO MEET ALL
FINANCIAL
OBLIGATIONS AS THEY COME DUE WITHIN 1-YEAR AFTER STATEMENTS FOR
PERIOD ENDED OCT 1, ARE ISSUED

Source text for Eikon:  ID:nGNX6FRHRX 
Further company coverage:  BVS.O 
 ((Reuters.Briefs@thomsonreuters.com;))