Welcome to our dedicated page for Elutia news (Ticker: ELUT), a resource for investors and traders seeking the latest updates and insights on Elutia stock.
Elutia Inc. (formerly Aziyo Biologics Inc.) is a commercial-stage regenerative medicine company dedicated to developing next-generation products aimed at enhancing surgical outcomes, especially for patients with implantable medical devices. The company operates in three primary segments: Device Protection, Women's Health, and Cardiovascular, with the Women's Health segment generating the most revenue.
Elutia Inc. focuses on addressing unmet clinical needs by promoting healthy tissue formation and preventing complications often associated with medical device implants, such as scar-tissue formation, capsular contraction, erosion, migration, non-union of implants, and implant rejection. Their innovative solutions include traditional bone grafts, processed osteobiologics, and custom musculoskeletal tissue products.
Founded by HighCape Partners and Tissue Banks International, Elutia Inc. is committed to advancing regenerative medicine by honoring the altruistic donations of tissues and enhancing patient health and mobility. The company fosters a collaborative environment to deliver best-in-class solutions and operational excellence to its customers every day.
Recent achievements include the announcement of their third-quarter 2023 financial results, showcasing their continuous growth and commitment to innovation in the regenerative medicine field. The company also engages in various partnerships and collaborations to further its mission.
For more information, investors can contact Matt Steinberg from FINN Partners at matt.steinberg@finnpartners.com.
Elutia (Nasdaq: ELUT), a leader in drug-eluting biomatrix products, announced that Dr. Randy Mills, President and CEO, will present at the Emerging Growth Conference on July 18, 2024, at 12:35 p.m. ET (9:35 a.m. PT). The event will be webcast live, and interested institutional investors can schedule one-on-one meetings with Elutia's management by contacting IR@elutia.com. This presentation will provide insights into Elutia's current projects and future plans, making it a important event for stakeholders and potential investors.
Elutia has announced a $13.26 million registered direct offering, agreeing to sell 3,175,000 shares of its Class A common stock at $3.40 per share, and 725,000 prefunded warrants at $3.399 per warrant. The prefunded warrants are immediately exercisable at an exercise price of $0.001 per warrant. The gross proceeds, expected to be $13.26 million, will be used for working capital and general corporate purposes. The offering, managed by Lake Street Capital Markets, is set to close around June 18, 2024, pending customary conditions. The securities are offered under an effective SEC shelf registration statement.
Elutia announced that its Antibiotic-Eluting BioEnvelope, EluPro, has received FDA clearance. This innovative product is designed to protect patients with implantable cardiac devices from complications such as infection, migration, and skin erosion. EluPro is the only biologic solution in the $600 million U.S. implantable electronic device protection market. Additionally, EluPro has been cleared for use with neurostimulators and neuromodulators, opening up an $8 billion market opportunity. The product combines antibiotic therapy with advanced tissue engineering to create a regenerative pocket for the device. Elutia plans to launch EluPro nationwide in the second half of 2024.
Elutia Inc. (Nasdaq: ELUT) will showcase its CanGaroo® BioEnvelope product line at the Heart Rhythm Society's annual meeting. The innovative biologic matrix enhances device stability and patient comfort for cardiac implantable electronic devices. Elutia's management team will be present at the event to demonstrate the product's benefits.
Elutia Inc. (Nasdaq: ELUT) announced its first quarter 2024 results, highlighting a 55% increase in sales for SimpliDerm® and positive progress with FDA interactions for CanGaroo®RM. With a focus on disruptive technology in the pacemaker and defibrillator protection market, Elutia aims to set new standards for patient outcomes. The financial results showcased overall revenue growth, with net sales reaching $6.7 million and a gross margin of 42% on a GAAP basis. Despite a decline in cardiovascular product sales, Elutia remains optimistic about the pending FDA decision for CanGarooRM and the commercial launch expected in the second half of 2024.
Elutia Inc. (Nasdaq: ELUT) will report its first quarter 2024 financial results on May 9, 2024. The company specializes in drug-eluting biomatrix products. A conference call and webcast will be held on the same day.
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