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Elutia Inc. - ELUT STOCK NEWS

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.

News

Elutia Reports Fourth Quarter and Full Year 2023 Financial Results: Anticipates CanGarooRM® Clearance Decision in First Half of 2024

Rhea-AI Summary
Elutia Inc. reports strong revenue growth in 2023, with sales increasing for SimpliDerm by 38% and CanGaroo by 3.4%. The company submitted a 510(k) premarket notification for CanGarooRM to the FDA, with positive interactions and no requests for additional data. Elutia closed the divestiture of the orthobiologics business, generating $14.6 million in cash proceeds. The company established a Strategic Advisory Committee for the commercial launch of CanGarooRM.
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Elutia to Report Fourth Quarter and Full Year 2023 Financial Results on Thursday, March 7, 2024

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Elutia Inc. (ELUT) to report Q4 and full year 2023 financial results on March 7, 2024. Conference call and webcast scheduled. Investors can access the event through the company's website.
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Elutia Regains Compliance with Nasdaq Listing Requirements

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Elutia Inc. (Nasdaq: ELUT) has regained compliance with Nasdaq's market value of listed securities requirement and majority independent board requirement. The company now satisfies all applicable requirements for continued listing with Nasdaq, and its Class A common stock will continue to be listed and traded on the Nasdaq Capital Market under the symbol 'ELUT.' Elutia had a transformative year in 2023 with the divestiture of its orthopedics business and a successful capital raise. The CEO and leadership team are now focused on the commercial launch of their pioneering drug-eluting biomatrix, CanGarooRM®, with a favorable FDA decision expected in the first half of this year.
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Elutia Submits CanGarooRM® Antibiotic-Eluting Biomatrix for FDA Clearance

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Elutia Inc. (ELUT) has submitted a 510(k) premarket notification to the FDA for CanGarooRM, a next-generation drug-eluting biomatrix product tailored for use with cardiac implantable electronic devices. The company anticipates an approval decision in the first half of 2024 and is preparing for commercial launch. CanGarooRM is a bioenvelope made of a natural biomaterial that promotes a regenerative healing response and contains a slow-release formulation of antibiotics to reduce bacterial colonization. The product aims to address a $600 million market currently served by only one competitor, with potential expansion into other adjacent markets in the future.
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Elutia Reports 26% Year-Over-Year Sales Growth of Proprietary Products and Strengthened Balance Sheet in Third Quarter 2023 Financial Results

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Elutia Inc. (Nasdaq: ELUT) anticipates filing a 510(k) for transformational Drug-Eluting Biomatrix CanGarooRM in the fourth quarter of 2023. The company reported a 44% increase in SimpliDerm® net sales and an 11% growth in CanGaroo® net sales. Elutia divested its Orthobiologics business unit, secured private placement financing, and completed validation of an accelerated in-vitro elution assay for CanGarooRM. The company aims to capture a significant share of the $600 million CIED envelope market.
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Elutia Completes Divestiture of Orthobiologics Business Unit for Cash Proceeds of Up to $35 Million

Rhea-AI Summary
Elutia Inc. (Nasdaq: ELUT) announced the completion of the divestiture of its Orthobiologics business unit to Berkeley Biologics LLC, allowing the company to focus on its proprietary drug-eluting biomatrix platform. The transaction provides Elutia with up to $35 million in cash proceeds, including $15 million upfront and potential earnout payments of up to $20 million over five years. Combined with the previously announced private placement, the company potentially has access to over $60 million. Dr. Randy Mills, President and CEO, highlighted the company's focus on high-growth biomatrix product platforms, particularly the near-term blockbuster opportunity with CanGaroo®RM.
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Elutia to Report Third Quarter 2023 Financial Results on Monday, November 13, 2023

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Elutia Inc. (Nasdaq: ELUT) will release its third quarter 2023 financial results after market close on November 13, 2023. The conference call and webcast will start at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time. Webcast and conference call details can be found on the Elutia website.
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Elutia to Participate in a Panel Discussion at the Cantor Global Healthcare Conference

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Elutia's CEO to participate in panel at Cantor Global Healthcare Conference
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Elutia Announces Private Placement for Proceeds Up to $26 Million

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Elutia Inc. announces financing and divestiture, potentially adding over $60 million in cash to balance sheet
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Elutia Announces Sale of Orthobiologics Business Unit for Cash Proceeds of Up to $35 Million

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Elutia divests Orthobiologics business unit to Berkeley Biologics for up to $35 million. Elutia focuses on drug-eluting biomatrix products and aims to launch CanGaroo RM in H1 2024 for the $28 billion cardiac pacemaker market.
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FAQ

What is the current stock price of Elutia (ELUT)?

The current stock price of Elutia (ELUT) is $4.84 as of December 20, 2024.

What is the market cap of Elutia (ELUT)?

The market cap of Elutia (ELUT) is approximately 121.7M.

What does Elutia Inc. do?

Elutia Inc. is a regenerative medicine company that develops products to improve outcomes for patients undergoing surgery, focusing on those with implantable medical devices.

What are the core business segments of Elutia Inc.?

Elutia Inc. operates in three segments: Device Protection, Women's Health, and Cardiovascular, with the Women's Health segment generating the most revenue.

What are some of the complications Elutia Inc.'s products aim to prevent?

Their products aim to prevent complications such as scar-tissue formation, capsular contraction, erosion, migration, non-union of implants, and implant rejection.

Who founded Elutia Inc.?

Elutia Inc. was founded by HighCape Partners and Tissue Banks International.

What is the mission of Elutia Inc.?

Elutia Inc. aims to impact healthcare by developing innovative regenerative medicine solutions to improve patient outcomes.

How does Elutia Inc. honor tissue donations?

Elutia Inc. honors the altruistic donations by committing to advancing health and mobility for patients while respecting the lives of donors and their families.

Who can investors contact for more information?

Investors can contact Matt Steinberg from FINN Partners at matt.steinberg@finnpartners.com.

What are some recent achievements of Elutia Inc.?

Recent achievements include the announcement of their third-quarter 2023 financial results, highlighting continuous growth and innovation.

What kind of products does Elutia Inc. develop?

Elutia Inc. develops traditional bone grafts, processed osteobiologics, and custom musculoskeletal tissue products.

What is the significance of Elutia Inc.'s products in surgery?

Elutia Inc.'s products are significant in surgery for promoting healthy tissue formation and preventing complications associated with medical device implants.

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Elutia Inc.

Nasdaq:ELUT

ELUT Rankings

#4255 Ranked by Market Cap
N/A Ranked by Dividends

ELUT Stock Data

121.66M
17.63M
6.98%
71.62%
0.32%
Medical Devices
Biological Products, (no Disgnostic Substances)
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United States of America
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