Elutia Inc. - ELUT STOCK NEWS

Elutia (NASDAQ: ELUT) has announced a registered direct offering to raise $15.0 million through the sale of 5,520,000 shares of Class A common stock at $2.50 per share and 480,000 prefunded warrants at $2.499 per warrant. The prefunded warrants are immediately exercisable at $0.001 each.

The offering is expected to close around February 4, 2025, with Lake Street Capital Markets acting as the exclusive placement agent. The company plans to use the proceeds for working capital and general corporate purposes. The securities are being offered through an effective shelf registration statement previously filed with the SEC.

Elutia Inc. (ELUT) has announced the full U.S. commercial launch of EluPro™, the first FDA-cleared antibiotic-eluting biomatrix for cardiac implantable electronic devices and neurostimulators. Following a successful pilot program, EluPro has gained strong physician adoption, with submissions to 136 hospital value analysis committees and sales initiated at 70 institutions. The company has established partnerships with four major group purchasing organizations, including Premier and S3P.

The product addresses a significant market opportunity, as over 600,000 cardiac implantable electronic devices are implanted annually in the U.S., with complication rates of 5-7%. EluPro combines rifampin and minocycline antibiotics with a regenerative biomatrix to prevent infections and promote healing. Early results show over 50% increase in envelope orders following VAC approval. The U.S. CIED protection market is valued at $600 million.

Elutia (Nasdaq: ELUT), a leader in drug-eluting biomatrix products, has announced a significant agreement with Vizient benefiting Southern Strategic Sourcing Partners (S3P). This partnership grants S3P's vast network of 993 acute care facilities access to Elutia’s innovative EluPro™ Antibiotic Eluting BioEnvelope, starting immediately.

EluPro is the first FDA-cleared antibiotic-eluting biologic envelope for use with cardiac implantable electronic devices (CIEDs) and neurostimulators. It combines powerful antibiotics with a natural extracellular matrix that regenerates into the patient’s own tissue, addressing post-surgical challenges such as infection, migration, and skin erosion.

Dr. Randy Mills, CEO of Elutia, highlighted this partnership as a pivotal milestone, marking their second major GPO collaboration ahead of EluPro’s full commercial launch later this month. S3P's network spans over a dozen U.S. states and represents 91 health systems with over $4 billion in annual spend, significantly accelerating Elutia's mission to deliver life-changing technology to more patients.

Elutia (Nasdaq: ELUT) has secured a national group purchasing agreement with Premier, Inc. for Cardiac Rhythm Management Devices, effective November 15, 2024. The agreement enables Premier members to access special pricing for the EluPro™ Antibiotic-Eluting BioEnvelope. EluPro is the first FDA-cleared antibiotic-eluting biologic envelope that combines antibiotics with natural extracellular matrix to provide stability for implantable electronic devices. The technology delivers antibiotics directly to surgical sites and transforms into vascularized tissue, reducing inflammation and simplifying device upgrades. Premier serves two-thirds of U.S. healthcare providers, offering data analytics, supply chain solutions, and consulting services.

Elutia reported Q3 2024 financial results, highlighting the first commercial implant of EluPro, their FDA-cleared antibiotic-eluting biologic envelope. Overall net sales decreased 3.3% to $5.9 million, with SimpliDerm sales growing 19% to $3.1 million. BioEnvelope products sales declined 12% to $2.3 million. The company reported net income of $1.3 million, primarily due to a $12.7 million non-cash warrant revaluation gain. EluPro has been submitted to over 100 hospital VACs, with 36 accounts actively ordering. The company maintains a strong cash position of $25.7 million and is preparing for EluPro's full commercial launch in January 2025.

Elutia (Nasdaq: ELUT), a pioneer in drug-eluting biomatrix products, has announced its participation in the Canaccord Genuity MedTech, Diagnostics and Digital Health & Services Forum in New York on November 21, 2024. The company's leadership team, including Dr. Randy Mills (President and CEO), Matt Ferguson (CFO), and Dr. Michelle LeRoux Williams (Chief Scientific Officer), will be available for one-on-one meetings with institutional investors during the event. Interested institutional investors can arrange meetings through their Canaccord representatives.

Elutia (Nasdaq: ELUT), a drug-eluting biomatrix products company, has scheduled its third quarter 2024 financial results release for Thursday, November 14, 2024, after market close. The company will host a conference call and webcast at 4:30 p.m. Eastern Time on the same day. Management will be available for discussion, and investors can access the call through U.S. (877-407-8029) or International (201-689-8029) numbers using Conference ID 13749386.

Elutia (Nasdaq: ELUT), a pioneer in drug-eluting biomatrix products, has announced its participation in the LD Micro Main Event XVII Conference in Los Angeles. Dr. Randy Mills, President and CEO, will deliver a presentation on Wednesday, October 30, 2024, at 2:00 p.m. PT (5:00 p.m. ET). The company's management team will also be available for one-on-one meetings with institutional investors, who can schedule appointments through LD Micro representatives or by contacting IR@elutia.com.

Elutia Inc. (ELUT) announced positive preclinical data for EluPro, the first FDA-cleared antibiotic-eluting biologic envelope for implantable devices. Published in Frontiers in Drug Delivery, the study showed EluPro's effectiveness in clearing bacterial contamination associated with cardiovascular implantable electronic devices (CIEDs). In a rabbit model, EluPro demonstrated complete eradication of MRSA and other bacterial strains with minimal systemic antibiotic exposure.

EluPro received FDA clearance for use with CIEDs in June 2024 and has been approved for additional devices. The first patient implant was completed in September 2024. Elutia is preparing for EluPro's commercial launch in January 2025.