1. CollPlant's regenerative breast implants show promising six-month study data. 2. Received $2 million from AbbVie as part of ongoing collaboration. 3. Patented bioinks enable the printing of durable and biocompatible implants. 4. Financial results show revenue drop to $515,000 in 2024. 5. Cost-cutting measures include a 20% workforce reduction to sustain operations.
Positive data on breast implants and milestone payments bolster investor confidence. Previous successful milestones have led to price increases historically.
The significant market potential for regenerative implants and strong partnership news can lead to price appreciation.
Upcoming data releases and results from collaborations with AbbVie could drive rapid market responses.
REHOVOT, Israel, March 26, 2025 /PRNewswire/ -- CollPlant Biotechnologies (Nasdaq: CLGN), or "CollPlant", a regenerative and aesthetics medicine company developing innovative technologies and products based on its non-animal-derived collagen for tissue regeneration and medical aesthetics, today announced its 2024 financial results and provided a corporate update.
"This past year to date, we have progressed on all fronts - from advancing our collaborative programs, to gaining momentum on our proprietary programs as well as our marketed products," commented CollPlant's Chief Executive Officer, Yehiel Tal.
Under CollPlant's existing development and commercialization agreement with development partner, AbbVie, CollPlant has granted AbbVie a worldwide exclusive license to use CollPlant's rhCollagen technology in combination with AbbVie's proprietary technologies for the development and commercialization of dermal and soft tissue fillers.
On August 19, 2024, CollPlant announced the initiation of a pre-clinical study with 200cc commercial-sized regenerative implants printed using CollPlant's bioinks and Stratasys' (Nasdaq: SSYS) Origin® 3D printer.
On June 6, 2024, CollPlant announced that it has successfully printed, for the first time, breast implants of 200cc, which are commercial size. These implants were printed using CollPlant's proprietary rhCollagen-based bioinks.
Mr. Tal added, "CollPlant's paradigm-shifting breast implants in development are unique in that they are designed to regenerate breast tissue as well as have inherent safety advantages."
GAAP revenues for the year ended December 31, 2024, were $515,000 compared to $11.0 million in the year ended December 31, 2023.
In July 2024, CollPlant announced the release of its inaugural Environmental, Social and Corporate Governance (ESG) and Sustainability Report covering 2023.
CollPlant will host a conference call and audio webcast to discuss its financial results and corporate updates on Wednesday, March 26th at 10:00 a.m. Eastern Daylight Time.
CollPlant is a regenerative and aesthetic medicine company ushering in a new era of medical solutions with a focus on 3D bioprinting of tissues and organs.
Investor: Eran Rotem, Deputy CEO & CFO, Tel: +972-73-2325600.
Email: [email protected]