NEW YORK, Nov. 18, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Bioventus Inc. (“Bioventus” or the “Company”) BVS. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Bioventus and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On or about February 11, 2021, Bioventus completed its initial public offering (“IPO”), selling 8 million shares of its Class A common stock at $13 per share. Then, on November 16, 2022, Bioventus issued a press release announcing that it was unable to timely file its quarterly report for the period ended October 1, 2022 because it “needed additional time to complete a review…to.” assess whether a non-cash impairment is required for the third quarter of 2022″ which, according to a preliminary review, is “in the range of $185 million to $205 million.” Bioventus further stated that it is seeking “a resolution regarding the validity of a revised invoice” in relation to “rebate claims”. [that it received] from a large private payer in relation to our pain management industry, which is likely to adversely affect the Company’s previously announced third quarter 2022 financial results.” As a result, Bioventus said that “its internal controls related to the timely recognition of quarterly rebates were insufficient” and “assesses whether the Company will be able to meet all of its financial obligations when due within one year from the date of publication of its financial statements for the period ended October 1, 2022.”

As a result of this news, Bioventus stock price fell $1.00 per share, or 33.67%, to close at $1.97 per share on November 17, 2022, a total decrease of 84.85% from the IPO price .

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London,…