Celularity Raises Full Year 2024 Guidance as Expected Net Sales Through October Reach $44.4 Million
Celularity (NASDAQ: CELU) has raised its full-year 2024 net sales guidance to $54-60 million, up from the previously announced $50-56 million. The company reported expected net sales of $44.4 million through October 2024, with October marking its highest single-month sales at $8.3-8.9 million. The guidance includes $49-54.5 million from advanced biomaterial products and $5.0-5.5 million from biobanking services. The company's new Rebound™ product contributed approximately $9 million to sales. Celularity has also filed its delayed Q2 2024 Form 10-Q, addressing Nasdaq compliance issues.
Celularity (NASDAQ: CELU) ha aumentato le previsioni di vendite nette per l'intero anno 2024 a 54-60 milioni di dollari, rispetto ai precedenti 50-56 milioni di dollari. L'azienda ha riportato vendite nette stimate di 44,4 milioni di dollari fino a ottobre 2024, con ottobre che segna il suo mese di vendite più alto, con 8,3-8,9 milioni di dollari. Le previsioni includono 49-54,5 milioni di dollari dai prodotti avanzati in biomateriali e 5,0-5,5 milioni di dollari dai servizi di biobanking. Il nuovo prodotto Rebound™ dell'azienda ha contribuito per circa 9 milioni di dollari alle vendite. Celularity ha anche presentato il suo ritardato modulo 10-Q del Q2 2024, affrontando questioni di conformità con Nasdaq.
Celularity (NASDAQ: CELU) ha elevado su previsión de ventas netas para todo el año 2024 a 54-60 millones de dólares, en comparación con los 50-56 millones de dólares anunciados anteriormente. La compañía reportó ventas netas esperadas de 44,4 millones de dólares hasta octubre de 2024, siendo octubre el mes con mayores ventas, con 8,3-8,9 millones de dólares. La guía incluye 49-54,5 millones de dólares de productos avanzados en biomateriales y 5,0-5,5 millones de dólares de servicios de biobanco. El nuevo producto Rebound™ de la compañía contribuyó aproximadamente con 9 millones de dólares a las ventas. Celularity también ha presentado su retrasado formulario 10-Q del Q2 2024, abordando cuestiones de cumplimiento con Nasdaq.
셀룰라리티 (NASDAQ: CELU)는 2024년 전년 순매출 가이던스를 5,400만-6,000만 달러로 상향 조정했으며, 이는 이전에 발표된 5,000만-5,600만 달러에서 증가한 수치입니다. 이 회사는 2024년 10월까지 예상 순매출이 4,440만 달러에 이를 것으로 보고하며, 10월은 830만-890만 달러로 가장 높은 월 매출을 기록했습니다. 이 가이던스는 고급 바이오 소재 제품에서 4,900만-5,450만 달러와 바이오뱅킹 서비스에서 500만-550만 달러를 포함합니다. 회사의 새로운 Rebound™ 제품은 판매에 약 900만 달러를 기여했습니다. 셀룰라리티는 또한 미제출된 2024년 2분기 10-Q를 제출하여 나스닥 준수 문제를 해결했습니다.
Celularity (NASDAQ: CELU) a révisé ses prévisions de ventes nettes pour l'année 2024 à 54-60 millions de dollars, contre 50-56 millions de dollars annoncés précédemment. L'entreprise a annoncé un chiffre d'affaires net attendu de 44,4 millions de dollars jusqu'en octobre 2024, avec le mois d'octobre marquant ses ventes les plus élevées en un seul mois, avec 8,3-8,9 millions de dollars. Les prévisions incluent 49-54,5 millions de dollars provenant de produits biomatériaux avancés et 5,0-5,5 millions de dollars de services de biobanque. Le nouveau produit Rebound™ de l'entreprise a contribué à hauteur d'environ 9 millions de dollars aux ventes. Celularity a également déposé son formulaire 10-Q du deuxième trimestre 2024, en réponse à des questions de conformité avec le Nasdaq.
Celularity (NASDAQ: CELU) hat seine Prognose für den Nettoumsatz im Jahr 2024 auf 54-60 Millionen Dollar angehoben, gegenüber den zuvor angekündigten 50-56 Millionen Dollar. Das Unternehmen meldete einen erwarteten Nettoumsatz von 44,4 Millionen Dollar bis Oktober 2024, wobei der Oktober mit 8,3-8,9 Millionen Dollar den höchsten Einzelmonatumsatz markiert. Die Prognose umfasst 49-54,5 Millionen Dollar aus fortschrittlichen Biomaterialprodukten und 5,0-5,5 Millionen Dollar aus Biobanking-Dienstleistungen. Das neue Produkt Rebound™ des Unternehmens trug mit etwa 9 Millionen Dollar zu den Verkäufen bei. Celularity hat außerdem das verspätete Q2 2024 Formular 10-Q eingereicht, um Fragen zur Nasdaq-Konformität zu klären.
- Increased 2024 revenue guidance to $54-60 million
- Record monthly sales of $8.3-8.9 million in October 2024
- Advanced biomaterial product sales expected to grow 180-212% year-over-year
- New Rebound product contributed $9 million in sales
- First half 2024 sales already exceeded full-year 2023 figures
- Resolved Nasdaq compliance issues by filing delayed quarterly reports
- Previous delayed filing of quarterly reports led to Nasdaq non-compliance notice
Insights
The substantial guidance raise and record-breaking monthly sales paint a compelling growth story. Expected net sales of
The successful launch of Rebound™, contributing
The regenerative medicine market penetration is evident in Celularity's commercial success. The robust demand for placental-derived biomaterial products, particularly the new Rebound™ line, suggests strong market acceptance and potential for sustained growth. The biobanking segment, while smaller at
The company's strategic positioning in advanced biomaterials, combined with its technical infrastructure and IP portfolio, creates significant barriers to entry. The raised guidance and record monthly sales indicate potential market share gains in the evolving regenerative medicine landscape.
- Celularity Raises Full Year 2024 Expected Net Sales Guidance to
$54 Million to$60 Million , Compared to Previous Guidance of$50 Million to$56 Million - October Expected Net Sales of
$8.3 Million to$8.9 Million Marks the Highest Single-Month Figure in its History - Celularity Filed its Second Quarter Form 10-Q and is Now Current With its Quarterly Report Filings
FLORHAM PARK, N.J., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Celularity Inc. (Nasdaq: CELU) (“Celularity”) a regenerative and cellular medicine company, today announced that it has increased expected net sales guidance for the full year 2024 to
October expected net sales were
“We had very strong second and third quarter performances, and based on such performance we have increased the full year 2024 expected net sales guidance we previously announced in February,” said Dr. Robert J. Hariri, M.D., Ph.D., Founder, Chairman, and CEO. “Sales are strong for our new Rebound product, which we believe will strengthen our revenue outlook for the next several quarters. We continue to advance development of next generation advanced biomaterial products while exploring all opportunities in the rapidly evolving landscape of cellular and regenerative medicine. We believe Celularity can leverage our unique business model, world-class technical infrastructure and intellectual property, and growing commercial traction as we enter 2025 and beyond.”
Celularity also announced that it filed its quarterly report on Form 10-Q for the second quarter 2024 on November 6, 2024. As previously announced, Celularity received a determination notification from Nasdaq on October 16, 2024 indicating non-compliance with Nasdaq Listing Rule 5250(c)(1) (the “Rule) due to the delayed filing of Celularity’s quarterly reports on Forms 10-Q for the periods ended March 31, 2024, and June 30, 2024 (collectively, the “Forms 10-Q”). Celularity has now filed the Forms 10-Q in compliance with the Rule.
Dr. Hariri added, “With the completion of our Forms 10-Q for the first and second quarter, we reaffirm our commitment to regaining and maintaining compliance with the Nasdaq listing requirements. To further strengthen our reporting processes, we have implemented several key improvements to help mitigate delays in the future. These enhancements include engaging additional technical accounting resources, upgrading our internal review protocols, and collaborating closely with our external auditors to ensure timely and accurate financial disclosures.”
About Celularity
Celularity Inc. (Nasdaq: CELU) is a regenerative medicine company developing and commercializing advanced biomaterial products and allogeneic, cryopreserved, placental-derived cell therapies, all derived from the postpartum placenta. Its therapeutic programs target aging-related diseases, including degenerative diseases, cancer, and immune disorders, using mesenchymal-like adherent stromal cells (MLASCs), T-cells engineered with CAR (CAR T-cells), and genetically modified and unmodified natural killer (NK) cells. Celularity believes that by harnessing the placenta’s unique biology and ready availability, it can develop therapeutic solutions that address significant unmet global needs for effective, accessible, and affordable therapies. For more information, visit www.celularity.com.
Forward Looking Statements
This release includes “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as well as within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts are “forward-looking statements,” including those relating to future events. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “can,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intends,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “strive,” “target,” “will,” “would” and the negative of terms like these or other comparable terminology, and other words or terms of similar meaning. The forward-looking statements in this press release include express or implied statements regarding expected sales for the quarter ended September 30, 2024 and the ten-month period ended October 31, 2024, its future sales or sales growth, its 2024 financial goals and expectations for future financial results, including levels of net sales, its expectations regarding its new products and the demand for its products, growth relative to prior periods, compliance with the Nasdaq listing rules, its ability to regain and maintain compliance with Nasdaq’s listing requirements, the sufficiency of the improvements to its reporting processes, and its ability to meet future reporting deadlines. Many factors could cause actual results to differ materially from those described in these forward-looking statements, including but not limited to: Celularity’s liquidity situation; the volatility in Celularity’s stock price; inherent risks in biotechnological development, including with respect to the development of novel advanced biomaterials; and the regulatory approval process; along with those risk factors set forth under the caption “Risk Factors” in Celularity’s annual report on Form 10-K filed with the Securities and Exchange Commission (SEC) on July 30, 2024, and other filings with the SEC. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Celularity does not presently know, or that Celularity currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, these forward-looking statements reflect Celularity’s current expectations, plans, or forecasts of future events and views as of the date of this communication. Subsequent events and developments could cause assessments to change. Accordingly, forward-looking statements should not be relied upon as representing Celularity’s views as of any subsequent date, and Celularity undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Investor Contact:
Carlos Ramirez
Senior Vice President, Celularity Inc.
Carlos.ramirez@celularity.com
Media Contacts:
Raquel Cona / Michaela Fawcett
KCSA Strategic Communications
rcona@kcsa.com / mfawcett@kcsa.com
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