COLLPLANT BIOTECHNOLOGIES REPORTS 2024 FINANCIAL RESULTS AND PROVIDES A CORPORATE UPDATE
CollPlant Biotechnologies (CLGN) reported its 2024 financial results and corporate updates, highlighting progress in its regenerative breast implant program targeting a $3 billion market opportunity. The company received a $2 million development payment from AbbVie in February 2025.
Key financial results for 2024 include: revenues of $515,000 (down from $11.0 million in 2023), net loss of $16.6 million ($1.45 per share), and cash position of $11.9 million as of December 31, 2024. The company implemented a 20% workforce reduction to extend operations through Q2 2026.
Notable developments include: successful printing of 200cc commercial-sized breast implants, promising six-month study data showing vascularization and tissue ingrowth, expansion of Vergenix STR distribution in Europe and Asia, and new patent grants in Japan for rhCollagen curable BioInks and in the US for photocurable dermal filler technology.
CollPlant Biotechnologies (CLGN) ha riportato i risultati finanziari e gli aggiornamenti aziendali per il 2024, evidenziando i progressi nel suo programma di impianti mammari rigenerativi, che punta a un'opportunità di mercato di 3 miliardi di dollari. L'azienda ha ricevuto un pagamento di sviluppo di 2 milioni di dollari da AbbVie nel febbraio 2025.
I risultati finanziari chiave per il 2024 includono: ricavi di 515.000 dollari (in calo rispetto agli 11,0 milioni del 2023), una perdita netta di 16,6 milioni di dollari (1,45 dollari per azione) e una posizione di liquidità di 11,9 milioni di dollari al 31 dicembre 2024. L'azienda ha implementato una riduzione del personale del 20% per estendere le operazioni fino al secondo trimestre del 2026.
Sviluppi notevoli includono: stampa riuscita di impianti mammari commerciali da 200cc, dati promettenti di uno studio di sei mesi che mostrano vascolarizzazione e ingrowth dei tessuti, espansione della distribuzione di Vergenix STR in Europa e Asia, e nuovi brevetti concessi in Giappone per BioInks curabili con rhCollagen e negli Stati Uniti per la tecnologia di filler dermici fotocurabili.
CollPlant Biotechnologies (CLGN) informó sus resultados financieros y actualizaciones corporativas de 2024, destacando los avances en su programa de implantes mamarios regenerativos que apunta a una oportunidad de mercado de 3 mil millones de dólares. La empresa recibió un pago de desarrollo de 2 millones de dólares de AbbVie en febrero de 2025.
Los resultados financieros clave para 2024 incluyen: ingresos de 515,000 dólares (una disminución desde los 11.0 millones de 2023), una pérdida neta de 16.6 millones de dólares (1.45 dólares por acción), y una posición de efectivo de 11.9 millones de dólares al 31 de diciembre de 2024. La empresa implementó una reducción del 20% en su fuerza laboral para extender las operaciones hasta el segundo trimestre de 2026.
Desarrollos notables incluyen: impresión exitosa de implantes mamarios comerciales de 200cc, datos prometedores de un estudio de seis meses que muestran vascularización y crecimiento de tejidos, expansión de la distribución de Vergenix STR en Europa y Asia, y nuevas concesiones de patentes en Japón para BioInks curables con rhCollagen y en EE. UU. para la tecnología de relleno dérmico fotocurable.
CollPlant Biotechnologies (CLGN)는 2024년 재무 결과와 기업 업데이트를 보고하며, 30억 달러 규모의 시장 기회를 목표로 하는 재생 유방 임플란트 프로그램의 진행 상황을 강조했습니다. 이 회사는 2025년 2월 AbbVie로부터 200만 달러의 개발 지급금을 받았습니다.
2024년 주요 재무 결과는 다음과 같습니다: 수익 515,000달러(2023년 1,100만 달러에서 감소), 순손실 1,660만 달러(주당 1.45달러), 2024년 12월 31일 기준 현금 보유액 1,190만 달러. 이 회사는 2026년 2분기까지 운영을 연장하기 위해 인력의 20%를 줄였습니다.
주요 개발 사항으로는: 200cc 상업용 유방 임플란트의 성공적인 인쇄, 혈관화 및 조직 성장 데이터를 보여주는 6개월 연구의 유망한 결과, 유럽 및 아시아에서 Vergenix STR 배급의 확장, 일본에서 rhCollagen으로 경화 가능한 BioInks와 미국에서 광경화성 피부 필러 기술에 대한 새로운 특허 부여가 포함됩니다.
CollPlant Biotechnologies (CLGN) a publié ses résultats financiers et ses mises à jour d'entreprise pour 2024, soulignant les progrès de son programme d'implants mammaires régénératifs visant une opportunité de marché de 3 milliards de dollars. La société a reçu un paiement de développement de 2 millions de dollars de la part d'AbbVie en février 2025.
Les résultats financiers clés pour 2024 incluent : des revenus de 515 000 dollars (en baisse par rapport à 11,0 millions de dollars en 2023), une perte nette de 16,6 millions de dollars (1,45 dollar par action) et une position de liquidités de 11,9 millions de dollars au 31 décembre 2024. L'entreprise a mis en œuvre une réduction de 20 % de ses effectifs pour prolonger ses opérations jusqu'au deuxième trimestre 2026.
Les développements notables incluent : l'impression réussie d'implants mammaires de taille commerciale de 200cc, des données prometteuses d'une étude de six mois montrant la vascularisation et l'infiltration tissulaire, l'expansion de la distribution de Vergenix STR en Europe et en Asie, et de nouveaux brevets accordés au Japon pour des BioInks curables avec rhCollagen et aux États-Unis pour une technologie de remplissage dermique photopolymérisable.
CollPlant Biotechnologies (CLGN) hat seine finanziellen Ergebnisse und Unternehmensupdates für 2024 veröffentlicht und dabei Fortschritte bei seinem regenerativen Brustimplantat-Programm hervorgehoben, das auf eine Marktchance von 3 Milliarden Dollar abzielt. Das Unternehmen erhielt im Februar 2025 eine Entwicklungszahlung von 2 Millionen Dollar von AbbVie.
Wichtige finanzielle Ergebnisse für 2024 umfassen: Einnahmen von 515.000 Dollar (ein Rückgang von 11,0 Millionen Dollar im Jahr 2023), einen Nettoverlust von 16,6 Millionen Dollar (1,45 Dollar pro Aktie) und eine Liquiditätsposition von 11,9 Millionen Dollar zum 31. Dezember 2024. Das Unternehmen hat eine Reduzierung der Belegschaft um 20 % umgesetzt, um die Betriebsabläufe bis zum zweiten Quartal 2026 zu verlängern.
Bemerkenswerte Entwicklungen sind: erfolgreiche Druckerstellung von 200cc großen kommerziellen Brustimplantaten, vielversprechende Daten aus einer sechsmonatigen Studie, die Vaskularisation und Gewebewachstum zeigen, die Expansion der Vergenix STR-Verteilung in Europa und Asien sowie neue Patenterteilungen in Japan für rhCollagen-härtbare BioInks und in den USA für lichthärtbare Dermalfülltechnologie.
- Successful development of 200cc commercial-sized regenerative breast implants with promising six-month study results
- Received $2 million development payment from AbbVie partnership
- Secured new patents in Japan and US for key technologies
- Expanded distribution network for Vergenix STR in Europe and Asia
- Cost reduction measures extend operations through Q2 2026
- Revenue declined significantly to $515,000 in 2024 from $11.0 million in 2023
- Net loss increased to $16.6 million in 2024 from $7.0 million in 2023
- Implemented 20% workforce reduction
- Cash position decreased to $11.9 million from previous year
- Operating cash burn increased to $14.1 million from $2.8 million in 2023
Insights
CollPlant's 2024 results present a mixed financial picture with underlying pipeline progress. Revenue dropped to
The company's
The regenerative breast implant program shows promising six-month data with vascularization and tissue ingrowth in commercial-sized 200cc implants. With no complications observed in the successful study arm, this program targeting a
The AbbVie collaboration continues progressing with their dermal filler product candidate in clinical trials. CollPlant's expansion of Vergenix STR distribution channels into new European and Asian markets should provide incremental revenue, though likely modest in the near term.
Patent portfolio strengthening through new Japanese and US patents provides longer-term intellectual property protection. Overall, while the near-term financial picture remains challenging, the development pipeline shows progress that could create value if successfully executed.
The 6-month data from CollPlant's regenerative breast implant program represents a notable technical achievement in the bioprinting space. The successful production of commercial-sized (200cc) implants using rhCollagen-based bioinks demonstrates important progress in scalability - a critical hurdle for tissue engineering applications.
The observed neovascularization, tissue ingrowth, and enhanced durability in the successful study arm are particularly significant. Vascularization is crucial for long-term viability of larger tissue constructs, as it allows nutrient delivery throughout the implant. The absence of capsule formation, calcifications, and local tissue reactions addresses key failure modes of conventional implants.
CollPlant's plant-derived rhCollagen platform provides inherent advantages over animal-derived alternatives, potentially reducing immunogenicity risks. This could be transformative for post-mastectomy reconstruction, where current silicone or saline implants have documented complications including BIA-ALCL.
Their collaboration with Stratasys leverages advanced 3D printing capabilities needed for complex tissue architecture. The expanded patent protection in Japan for rhCollagen bioinks and the US patent for photocurable dermal fillers strengthen their intellectual property position in two growing markets.
While the preclinical results show promise, significant challenges remain in transitioning to human studies, including long-term stability validation, regulatory pathway clarity, and manufacturing scale-up. The successful study arm results are encouraging, but complete study outcomes including unsuccessful arms would provide a more comprehensive assessment of technology readiness.
CollPlant announces six-month study data from its regenerative breast implant program, which could provide a revolutionary alternative to women for aesthetic or medical purposes and aims to address a
Recently received a
Conference call to be held today at 10:00 a.m.
REHOVOT,
"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. Specifically, we leveraged additional preclinical studies findings, refined a commercial design of our regenerative breast implants, gained an additional
Collaboration Updates
AbbVie Collaboration
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. The dermal filler product candidate is currently in the clinical phase and AbbVie is collecting data and conducting a review of interim results from the first cohort of patients enrolled under the trials initiated in 2023. Next steps for the program are to be determined by AbbVie upon concluding their assessment.
In February 2025, following a development achievement, CollPlant received a
Stratasys Collaboration
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. The collaboration between CollPlant and Stratasys is currently focused on the development of a bioprinting solution for CollPlant's breast implants, in addition to finding solutions to scale-up the implant's fabrication process.
Recent Corporate Updates
Regenerative Breast Implants
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. Currently, there are no commercial products that allow regeneration of soft tissues such as the breast. The program goal is to develop and commercialize novel regenerative implants that provide a revolutionary alternative to the implants that are currently on the market.
In August 2024, CollPlant launched a preclinical study with the 200cc, clinical-sized breast implants, which were also produced with enhanced durability. The surgical protocol was refined to include implantation through a small incision while preventing implant displacement or inversion. Analysis of MRI and ultrasound data conducted in 2025 confirmed tissue integration and vascularization, offering valuable diagnostic tools for future clinical applications. At six months post-implantation, one study arm has shown promising outcomes, with the implant demonstrating vascularization and rapid tissue ingrowth within the clinical-sized implant. No complications, such as capsule formation, calcifications, and local tissue reactions were observed. Additionally, volume retention and mechanical properties were maintained in the successful study arm.
Following this study, Collplant will continue to optimize the regenerative breast implants to ensure longevity and re-modelling of the neo-vascularized tissue.
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. We have been testing implants that are commercial size after upgrading our bioprinting process and other capabilities to fabricate these implants. We are very encouraged by the results observed so far. This is one of our lead programs that has the potential to position CollPlant as a market leader in the field of regenerative medicine."
Earlier, in 2024, three-month data showed evidence of well-developed connective tissue containing blood vessels (i.e., neovascularization) within the implant. Progressing tissue ingrowth within the implant was also observed confirming tissue regeneration. An initial biodegradation process was observed, while preserving the original structure of the 3D breast implant. No adverse tissue reaction was observed, confirming the safety profile of this novel implant in development.
In the
In February 2025, CollPlant announced the expansion of its distribution channels for its Vergenix™ STR product, in
Also in February, CollPlant announced that it had initiated a cost cutting and workforce reduction plan. CollPlant indicated that its updated allocation of resources results in a reduction of its workforce by approximately
Intellectual Property
RhCollagen Curable BioInks Portfolio of Products
CollPlant announced today that the Japan Patent Office (JPO) has granted a second patent on Patent Application no. 2023-101072 securing patent protection on CollPlant's portfolio of rhCollagen curable BioInks in
This newly allowed application is related to CollPlant's innovative curable Collink.3D® BioInk pipeline, consisting of the first and only line of human collagen BioInk products based on chemically modified plant-derived rhCollagen that is mass-produced with high purity and consistency. Collink.3D enables scalable and reproducible biofabrication of tissue models, tissues, and organ transplants, while perfectly mimicking the native properties of tissues and organs. Additionally, it provides the advantage of being animal-free, has the properties of optimal rheology at room temperature, supports high viability of different cell types and is biocompatible and non-immunogenic.
Photocurable Dermal Filler Product Candidate
Additionally in February 2025, CollPlant announced it was granted
Corporate Governance
In July 2024, CollPlant announced the release of its inaugural Environmental, Social and Corporate Governance (ESG) and Sustainability Report covering 2023.
The Company's first report details the initiatives that CollPlant has taken to adopt an ESG strategy with a focus on the pillars that represent the areas with the highest impact. In aligning the Company's operations with its ethical commitments, the Company plans to enhance plant-based production, reduce emissions, and deliver safe and reliable medical solutions. The report reflects CollPlant's wide commitment to fostering environmental sustainability and enhancing human health, as well as advancing social and corporate governance objectives that contribute to the Company's impact.
Year-Ended December 31, 2024 Financial Results
GAAP revenues for the year ended December 31, 2024, were
GAAP cost of revenues for the year ended December 31, 2024, was
GAAP gross loss for the year ended December 31, 2024, was
GAAP operating expenses for the year ended December 31, 2024, were
GAAP financial income, net, for the year ended December 31, 2024, totaled
GAAP net loss for the year ended December 31, 2024 was
Balance Sheets and Cash Flow
The Company's cash and cash equivalents balance as of December 31, 2024 was
Cash used in operating activities was
Net cash used in investing activities was
Net cash provided by financing activities was
Conference call information
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.
To participate in the conference call, please use the dial-in information below:
Investors outside of the U.S.: 1-201-493-6779
Conference ID: 13750725
Note, you can avoid long wait times for the operator by using the Call me™ feature and clicking the link below 15 minutes prior to the scheduled call start time:
https://callme.viavid.com/viavid/?callme=true&passcode=13728588&h=true&info=company-email&r=true&B=6
Webcast information
A live webcast will also be available in listen-only mode and can be accessed here or via the link posted on the News & Events section of the CollPlant Investor relations website. A replay of the webcast will be available following the conclusion of the live broadcast and will be accessible on the Company's website for a limited time.
Submit questions to management in advance of the call
To ask management a question ahead of the call, please email Dan Ferry at LifeSci Advisors, LLC up until 24 hours before the event at daniel@lifesciadvisors.com.
About CollPlant
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, tissue repair and medical aesthetics. The Company's products are based on its rhCollagen (recombinant human collagen) produced with CollPlant's proprietary plant-based genetic engineering technology. These products address indications for the diverse fields of tissue repair, aesthetics, and organ manufacturing.
In 2021, CollPlant entered into a development and global commercialization agreement for dermal and soft tissue fillers with Allergan, an AbbVie company, the global leader in the dermal filler market.
For more information about CollPlant, visit http://www.collplant.com
Contacts | |
CollPlant: | Investor: |
Eran Rotem | Daniel Ferry |
Deputy CEO & CFO | Managing Director |
Tel: +972-73-2325600 | LifeSci Advisors, LLC |
Email: eran@collplant.com | |
COLLPLANT BIOTECHNOLOGIES LTD. CONSOLIDATED BALANCE SHEETS ( | ||||||||
December 31, | ||||||||
2024 | 2023 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 11,909 | $ | 26,674 | ||||
Restricted deposit | 248 | 241 | ||||||
Trade receivables, net | 150 | - | ||||||
Inventories | 440 | 714 | ||||||
Other accounts receivable and prepaid expenses | 433 | 393 | ||||||
Total current assets | 13,180 | 28,022 | ||||||
Non-current assets: | ||||||||
Restricted deposit | 118 | 57 | ||||||
Operating lease right-of-use assets | 2,991 | 3,070 | ||||||
Property and equipment, net | 2,290 | 2,789 | ||||||
Intangible assets, net | 131 | 188 | ||||||
Total non-current assets | 5,530 | 6,104 | ||||||
Total assets | $ | 18,710 | $ | 34,126 | ||||
COLLPLANT BIOTECHNOLOGIES LTD. CONSOLIDATED BALANCE SHEETS ( | ||||||||
December 31, | ||||||||
2024 | 2023 | |||||||
Liabilities and shareholders' equity | ||||||||
Current liabilities: | ||||||||
Trade payables | $ | 870 | $ | 980 | ||||
Operating lease liabilities | 806 | 624 | ||||||
Accrued liabilities and other payables | 1,294 | 1,647 | ||||||
Total current liabilities | 2,970 | 3,251 | ||||||
Non-current liabilities: | ||||||||
Operating lease liabilities | 2,275 | 2,535 | ||||||
Total non-current liabilities | 2,275 | 2,535 | ||||||
Total liabilities | 5,245 | 5,786 | ||||||
Commitments and contingencies | ||||||||
Shareholders' Equity: | ||||||||
Ordinary shares, NIS 1.5 par value - authorized: 30,000,000 ordinary shares as of | 4,983 | 4,982 | ||||||
Additional paid in capital | 122,801 | 121,068 | ||||||
Accumulated other comprehensive loss | (969) | (969) | ||||||
Accumulated deficit | (113,350) | (96,741) | ||||||
Total shareholders' equity | 13,465 | 28,340 | ||||||
Total liabilities and shareholders' equity | $ | 18,710 | $ | 34,126 | ||||
COLLPLANT BIOTECHNOLOGIES LTD. CONSOLIDATED STATEMENTS OF OPERATIONS ( | ||||||||||||
Year ended December 31, | ||||||||||||
2024 | 2023 | 2022 | ||||||||||
Revenues | $ | 515 | $ | 10,959 | $ | 299 | ||||||
Cost of revenues | 1,625 | 1,991 | 400 | |||||||||
Gross profit (loss) | (1,110) | 8,968 | (101) | |||||||||
Operating expenses: | ||||||||||||
Research and development | 10,515 | 10,484 | 10,255 | |||||||||
General, administrative and marketing | 5,626 | 5,996 | 6,741 | |||||||||
Total operating loss | (17,251) | (7,512) | (17,097) | |||||||||
Financial income, net | 642 | 493 | 172 | |||||||||
Net loss | $ | (16,609) | $ | (7,019) | $ | (16,925) | ||||||
Basic and diluted net loss per ordinary share | $ | (1.45) | $ | (0.62) | $ | (1.53) | ||||||
Weighted average number of ordinary shares used in | 11,454,180 | 11,389,168 | 11,033,310 | |||||||||
COLLPLANT BIOTECHNOLOGIES LTD. CONSOLIDATED STATEMENTS OF CASH FLOWS ( | ||||||||||||
Year ended December 31, | ||||||||||||
2024 | 2023 | 2022 | ||||||||||
Cash flows from operating activities: | ||||||||||||
Net loss | $ | (16,609) | $ | (7,019) | $ | (16,925) | ||||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||||
Loss on sale of property and equipment | - | 18 | - | |||||||||
Depreciation and amortization | 1,038 | 1,102 | 1,076 | |||||||||
Accrued interest | (11) | (28) | (87) | |||||||||
Share-based compensation to employees and consultants | 1,719 | 1,937 | 2,174 | |||||||||
Exchange differences on cash and cash equivalents and restricted cash | 142 | 379 | 608 | |||||||||
Changes in assets and liabilities: | ||||||||||||
Decrease (increase) in trade receivables | (150) | 9 | 261 | |||||||||
Decrease (increase) in inventories | 280 | 749 | (312) | |||||||||
Decrease (increase) in other receivables and prepaid expenses | (40) | 150 | (119) | |||||||||
Decrease in operating lease right-of-use assets | 651 | 527 | 461 | |||||||||
Increase (decrease) in trade payables | (110) | (153) | 99 | |||||||||
Decrease in operating lease liabilities | (650) | (638) | (916) | |||||||||
Increase in accrued liabilities and other payables | (353) | 204 | 14 | |||||||||
Decrease in deferred revenues | - | - | (32) | |||||||||
Net cash used in operating activities | (14,093) | (2,763) | (13,698) | |||||||||
Cash flows from investing activities: | ||||||||||||
Capitalization of intangible assets | - | - | (42) | |||||||||
Purchase of property and equipment | (483) | (954) | (1,274) | |||||||||
Proceed from short term deposit | - | - | 50,238 | |||||||||
Investment in restricted deposits | (57) | (270) | - | |||||||||
Investment in deposits | - | - | (20,000) | |||||||||
Proceeds from sale of property and equipment | 1 | 68 | - | |||||||||
Net cash provided by (used in) investing activities | (539) | (1,156) | 28,922 | |||||||||
Cash flows from financing activities: | ||||||||||||
Exercise of options and warrants into shares | 9 | 1,108 | 1,874 | |||||||||
Net cash provided by financing activities | 9 | 1,108 | 1,874 | |||||||||
Effect of exchange rate changes on cash and cash equivalents and | (142) | (379) | (608) | |||||||||
Net increase (decrease) in cash and cash equivalents | (14,765) | (3,190) | 16,490 | |||||||||
Cash and cash equivalents at the beginning of the year | 26,674 | 29,864 | 13,374 | |||||||||
Cash and cash equivalents at the end of the year | $ | 11,909 | $ | 26,674 | $ | 29,864 | ||||||
COLLPLANT BIOTECHNOLOGIES LTD. CONSOLIDATED STATEMENTS OF CASH FLOWS ( | ||||||||||||
Year ended December 31, | ||||||||||||
2024 | 2023 | 2022 | ||||||||||
Supplemental discloser of non-cash activities: | ||||||||||||
Right of use assets recognized with corresponding lease liabilities | $ | 572 | $ | 886 | $ | 219 | ||||||
Capitalization of Share-based compensation to inventory | $ | 6 | $ | 33 | $ | 37 | ||||||
Supplemental discloser of cash activities: | ||||||||||||
Cash paid during the year for taxes | $ | 62 | $ | 8 | $ | 31 | ||||||
CollPlant Biotechnologies Ltd. Reconciliation of GAAP to Non-GAAP Financial Measures ( | ||||||||
Year ended December 31, | ||||||||
2024 | 2023 | |||||||
GAAP operating expenses: | $ | 16,141 | $ | 16,480 | ||||
Change of operating lease accounts | (18) | - | ||||||
Share-based compensation to employees, directors and consultants | (1,719) | (1,937) | ||||||
Non-GAAP operating expenses: | 14,404 | 14,543 | ||||||
GAAP operating loss | (17,251) | (7,512) | ||||||
Change of operating lease accounts | 18 | - | ||||||
Share-based compensation to employees, directors and consultants | 1,719 | 1,937 | ||||||
Non-GAAP operating loss | (15,514) | (5,575) | ||||||
GAAP Net loss | (16,609) | (7,019) | ||||||
Change of operating lease accounts | 1 | (111) | ||||||
Share-based compensation to employees, directors and consultants | 1,719 | 1,937 | ||||||
Non-GAAP Net loss | $ | (14,889) | $ | (5,193) | ||||
GAAP basic and diluted loss per ordinary share | $ | (1.45) | $ | (0.62) | ||||
NON- GAAP basic and diluted loss per ordinary share | $ | (1.30) | $ | (0.46) | ||||
Use of Non-US GAAP ("non-GAAP")
Financial results for 2024 and 2023 are presented on both a GAAP and a non-GAAP basis. GAAP results were prepared in accordance with
The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when operating and evaluating the Company's business internally and therefore decided to make these non-GAAP adjustments available to investors. The non-GAAP financial measures used by the Company in this press release may be different from the measures used by other companies.
For more information on the non-GAAP financial measures, please see the "Reconciliation of GAAP to Non-GAAP Financial Measures" in this release. This accompanying table has more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures.
The Company's consolidated financial statements for the year ended December 31, 2024, are presented in accordance with generally accepted accounting principles in the
A copy of the Company's annual report on Form 20-F for the year ended December 31, 2024 has been filed with the
Forward-Looking Statements
This press release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements relating to CollPlant's objectives plans and strategies, as well as statements, other than historical facts, that address activities, events or developments that CollPlant intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as "believes," "hopes," "may," "anticipates," "should," "intends," "plans," "will," "expects," "estimates," "projects," "positioned," "strategy" and similar expressions and are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate.
Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Many factors could cause CollPlant's actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: the Company's history of significant losses, its need to raise additional capital and its inability to obtain additional capital on acceptable terms, or at all, including uncertainties surrounding the methods of fundraising and the Company's preferences regarding such methods; the Company's expectations regarding the costs and timing of commencing and/or concluding pre-clinical and clinical trials with respect to breast implants, tissues and organs which are based on its rhCollagen based BioInk and other products for medical aesthetics, and specifically the Company's ability to initiate its next large-animal study for its breast implants in a timely manner, or at all; the Company's or Company's strategic partners' ability to obtain favorable pre-clinical and clinical trial results; regulatory action with respect to rhCollagen-based bioink and medical aesthetics products or product candidates including, but not limited to, acceptance of an application for marketing authorization review and approval of such application, and, if approved, the scope of the approved indication and labeling; commercial success and market acceptance of the Company's rhCollagen based products, in 3D Bioprinting and medical aesthetics; the Company's ability to establish sales and marketing capabilities or enter into agreements with third parties and its reliance on third party distributors and resellers; the Company's ability to establish and maintain strategic partnerships and other corporate collaborations, including its partnership with AbbVie and its ability to continue to receive milestone and royalties payments under the AbbVie agreement; the Company's reliance on third parties to conduct some or all aspects of its product development and manufacturing; the scope of protection the Company is able to establish and maintain for intellectual property rights and the Company's ability to operate its business without infringing the intellectual property rights of others; current or future unfavorable economic and market conditions and adverse developments with respect to financial institutions and associated liquidity risk; the impact of competition and new technologies; general market, political, and economic conditions in the countries in which the Company operates, including, with respect to the ongoing war in
Contacts
CollPlant:
Eran Rotem
Deputy CEO & CFO
Tel: + 972-73-2325600
Email: Eran@collplant.com
Investors:
LifeSci Advisors
Dan Ferry
daniel@lifesciadvisors.com
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SOURCE CollPlant
FAQ
What were CollPlant's (CLGN) key financial results for 2024?
What progress has CLGN made in its regenerative breast implant program?
How much did CollPlant (CLGN) receive from AbbVie in 2025?
What cost-cutting measures did CLGN implement in 2025?
What new patents did CollPlant (CLGN) secure in 2024-2025?
