Collplant Biotechnologies Ltd - CLGN STOCK NEWS

CollPlant Biotechnologies (NASDAQ: CLGN) reported its Q2 2022 financial results, revealing a GAAP revenue of $66,000, down from $691,000 the previous year, primarily due to decreased BioInk and Vergenix product sales. The company reported a net loss of $4.3 million, or $0.39 per share. Notably, CollPlant is advancing its co-development agreement with AbbVie for dermal fillers and is on track for large animal studies of its 3D bioprinted regenerative breast implant. Cash and equivalents stood at $36 million as of June 30, 2022, reflecting a strong balance sheet.

CollPlant (NASDAQ: CLGN) is set to present at the TERMIS conference in Toronto, Canada from July 10-13, 2022. The company will showcase its revolutionary rhCollagen technology through two presentations: "RhCollagen - The Ideal Building Block For 3D Printed and Injectable Scaffolds for Regenerative Medicine" on July 13, and a poster on "Recombinant Human Collagen-Based Bioinks for Biofabrication Applications" on July 11. CollPlant focuses on advanced regenerative medicine, highlighting its innovative biomaterials aimed at tissue repair, bioprinting, and skin rejuvenation.

CollPlant (Nasdaq: CLGN) announced the initiation of a large animal study for its 3D bioprinted regenerative breast implants, targeting the $2.8 billion global breast implant market. This study aims to evaluate the implants' performance, including tissue regeneration and integration and is expected to conclude within six months. CollPlant's technology utilizes plant-derived rhCollagen, which aims to reduce safety issues linked to silicone implants. The company plans to follow this study with human trials, marking significant progress in their product development.

CollPlant Biotechnologies (NASDAQ: CLGN) reported updates on its strategic initiatives and Q1 2022 financial results. The company is advancing its collaboration with AbbVie to develop rhCollagen-based dermal fillers and is on track to initiate a large animal study for its 3D bioprinted breast implant program in Q2 2022. As of March 31, 2022, CollPlant had cash and equivalents of $41M. Q1 revenues declined to $66,000, down from $14.5M year-over-year, largely due to a $14M upfront payment from AbbVie in 2021. The GAAP net loss was $3.9M, or $0.36 per share.

CollPlant (Nasdaq: CLGN) announced that CEO Yehiel Tal will moderate a virtual event hosted by the International Society for Biofabrication (ISBF) on May 2, 2022. The event, titled Biofabrication of Microphysiological Systems for Drug Discovery and Screening, aims to enhance collaboration across academia and industry, featuring experts from notable institutions. This engagement reflects CollPlant's commitment to advancing regenerative medicine through innovative technologies.

CollPlant (NASDAQ: CLGN), a leader in regenerative medicine, announced that Dr. Jasmine Seror will present at the Aesthetics Innovation Summit 2022 on April 20, 2022. Her presentation, titled "Novel photocurable rhCollagen implants for regenerative aesthetics applications," will be featured during the spotlight session at 11:20 AM EST. CollPlant focuses on innovative technologies utilizing rhCollagen, aimed at enhancing tissue regeneration and organ manufacturing.

CollPlant Biotechnologies (NASDAQ: CLGN) announced its fiscal year 2021 results, highlighting a significant GAAP revenue increase of 156%, reaching $15.6 million, primarily driven by a $14 million upfront payment from AbbVie. Gross profit surged 339% to $13.6 million. Operating expenses rose to $13.6 million, reflecting increased R&D and personnel costs. The company achieved a net income of $237,000, or $0.02 per share, contrasting with a net loss of $5.8 million in 2020. CollPlant plans to initiate a large animal study for its 3D bioprinted breast implant program in Q2 2022, targeting a market worth $2.8 billion.

CollPlant Biotechnologies and CELLINK announced a collaboration agreement on Feb. 16, 2022, to develop large-scale production of regenerative breast implants using CELLINK's 3D bioprinting technology. This collaboration targets a market worth $2.8 billion with approximately 2.2 million procedures conducted annually. CollPlant has produced prototypes of these implants, designed to naturally regenerate breast tissue. CELLINK's expertise in biofabrication is expected to assist in overcoming production challenges, aiming for commercialization to provide essential solutions for patients worldwide.

RION, a biotechnology company based in Rochester, Minnesota, has appointed Alisa Lask as Chief Commercial Officer. Lask brings extensive experience from leadership roles at major firms including Galderma and Allergan, aiming to commercially leverage RION's groundbreaking exosome therapeutics. The company currently has two active FDA registrations and focuses on innovative biologic platforms for regenerative medicine. Dr. Atta Behfar, RION's founder, expressed confidence in Lask's strategic vision to drive growth in both therapeutic and aesthetic sectors.