Financial Data and Key Metrics Changes - GAAP revenues for Q3 2024 were $4,000, a decrease from $43,000 in Q3 2023, primarily due to no deliveries planned for the largest customer [17] - GAAP revenues for the nine months ended September 30, 2024, were $351,000 compared to $10.7 million for the same period in 2023, with the decrease attributed to a $10 million milestone payment received in 2023 [18] - GAAP net loss for Q3 2024 was $4.3 million or $0.38 basic loss per share, compared to a net loss of $4.4 million or $0.38 basic loss per share for Q3 2023 [23] - Cash and cash equivalents as of September 30, 2024, were $15.4 million, expected to sustain operations until at least the end of 2025 [25] Business Line Data and Key Metrics Changes - The regenerative breast implant program is advancing with a preclinical study involving 200 cc commercial-sized implants, showing good results in terms of vascularization and tissue integration [7][10] - The collaboration with AbbVie focuses on developing a dermal and soft tissue filler product, with the filler market valued at approximately $5.5 billion and expected to grow by 10% annually [15] Market Data and Key Metrics Changes - The global breast implant market is estimated at approximately $3 billion and projected to grow to about $6.5 billion by 2033, indicating significant market potential for regenerative breast implants [13] Company Strategy and Development Direction - The company aims to be a leader in regenerative medicine, focusing on advancing the development of its breast implant and dermal filler programs while seeking additional collaborations to enhance its rhCollagen technology [38][39] - The strategy includes securing non-dilutive cash through partnerships and streamlining operations to reduce the annual burn rate [15] Management Comments on Operating Environment and Future Outlook - Management highlighted the challenges in developing breast implants, including ensuring natural filling, safety, and ease of administration, while expressing optimism about the ongoing preclinical study results [30][31] - The company is in discussions with various companies regarding its collagen technology, with a goal to sign another agreement in 2025 [36] Other Important Information - The company showcased its technology at the Annual Meeting of the International Society for Biofabrication, which generated interest and potential collaboration opportunities [16] Q&A Session Summary Question: Can you elaborate on the meaning of the results you have reported from your pre-clinical studies? - Management discussed the challenges in developing breast implants, including the need for natural filling, safety, and ease of administration, and reported significant vascularization and tissue ingrowth observed in the study [30][33] Question: Can you elaborate and estimate when will we see another agreement announced? - Management indicated ongoing dialogues with companies interested in collagen technology and expressed a goal to sign another agreement during 2025, though timing is uncertain [36]

Financial Performance - GAAP revenues for Q3 2024 were $4,000, a decrease from $43,000 in Q3 2023, primarily due to no deliveries planned for the largest customer[8]. - GAAP revenues for the nine months ended September 30, 2024, were $351,000, down approximately $10.3 million from $10.7 million in the same period in 2023, largely due to a milestone payment of $10 million received in 2023[9]. - GAAP net loss for Q3 2024 was $4.3 million, or $0.38 basic loss per share, compared to a net loss of $4.4 million, or $0.38 basic loss per share, in Q3 2023[17]. - GAAP net loss for the nine months ended September 30, 2024, was $12.7 million, or $1.11 basic loss per share, compared to a net loss of $2.3 million, or $0.20 basic loss per share, for the same period in 2023[18]. - Total revenues for the nine months ended September 30, 2024, were $351 million, a decrease from $10,660 million in the same period of 2023[32]. - The net loss for the nine months ended September 30, 2024, was $12,731 million, compared to a net loss of $2,330 million for the same period in 2023[32]. - Non-GAAP net loss for the nine months ended September 30, 2024, was $11,497 million, compared to a non-GAAP net loss of $1,239 million in 2023[38]. - Basic and diluted net loss per ordinary share for the nine months ended September 30, 2024, was $1.11, compared to $0.20 in 2023[38]. - The company reported a total operating loss of $13,277 million for the nine months ended September 30, 2024, compared to a loss of $2,444 million in 2023[32]. - The company experienced a net cash used in operating activities of $10,629 million for the nine months ended September 30, 2024, compared to $418 million in 2023[34]. Cash Position - Cash and cash equivalents as of September 30, 2024, were $15.4 million, providing a runway for operations until at least the end of 2025[20]. - Cash and cash equivalents at the end of the period were $15,371 million, down from $28,981 million at the end of the same period in 2023[34]. Research and Development - Research and development expenses for the nine months ended September 30, 2024, were $7,972 million, up from $7,371 million in 2023, reflecting a 8.2% increase[32]. - Operating expenses for Q3 2024 were $4.3 million, a slight decrease from $4.4 million in Q3 2023, with increased R&D costs related to breast implants[13]. - Significant progress in preclinical studies for the 3D-printed rhCollagen-based breast implants, showing promising results in vascularization and tissue ingrowth[3]. - The company is focused on 3D bioprinting of tissues and organs, utilizing its proprietary rhCollagen technology for regenerative and aesthetic medicine[39]. Collaborations and Partnerships - The collaboration with AbbVie has resulted in $24 million received to date, with potential total payments of up to $50 million for the development of a dermal filler product[6]. - The company entered into a development and global commercialization agreement for dermal and soft tissue fillers with Allergan, an AbbVie company, indicating a strategic partnership in the market[40]. - The company is prioritizing raising non-dilutive cash through collaborations in the medical and aesthetics fields[3]. Assets - Total assets as of September 30, 2024, were $22.4 million, down from $34.1 million as of December 31, 2023[28].

Core Insights - CollPlant Biotechnologies has achieved promising results in preclinical studies for its rhCollagen-based regenerative breast implants, indicating significant vascularization and tissue integration [1][4] - The company is targeting a $3.0 billion market opportunity with its innovative breast implant technology [1] - As of September 30, 2024, CollPlant reported cash and cash equivalents of $15.4 million, providing a runway for operations into 2025 [19] Company Developments - The CEO of CollPlant, Yehiel Tal, expressed optimism about advancing the breast implant program into human studies following successful preclinical trials [2] - The company has adjusted its development plans to ensure sufficient capitalization for at least one year and is focusing on raising non-dilutive cash through collaborations [2] - CollPlant is collaborating with Stratasys to develop a bioprinting solution for its breast implants, which could revolutionize the current market offerings [3] Financial Performance - For Q3 2024, CollPlant reported GAAP revenues of $4,000, a decrease from $43,000 in Q3 2023, primarily due to a lack of deliveries to its largest customer [9] - For the nine months ended September 30, 2024, GAAP revenues were $351,000, down from $10.7 million in the same period in 2023, largely due to a milestone payment received in 2023 under the AbbVie agreement [10] - The company reported a GAAP net loss of $4.3 million for Q3 2024, compared to a net loss of $4.4 million in Q3 2023 [17] Collaborations and Partnerships - CollPlant's collaboration with AbbVie is focused on developing a dermal and soft tissue filler product, with the potential for up to $50 million in payments to CollPlant [5] - As of now, CollPlant has received $24 million from AbbVie under this agreement [5] Research and Development - The company is prioritizing research and development activities related to its breast implants, which have shown significant promise in preclinical trials [14] - Operating expenses for R&D increased in Q3 2024, reflecting the company's commitment to advancing its innovative technologies [14][15] Market Context - The breast implant market represents a significant opportunity for CollPlant, with the company positioned to address unmet needs in aesthetic and reconstructive plastic surgery [2][32] - The innovative nature of CollPlant's products, based on non-animal-derived collagen, aligns with current trends towards biocompatibility in medical aesthetics [2][32]

Group 1 - CollPlant Biotechnologies will report its financial results for Q3 2024 on November 27, 2024, before U.S. market opening [1] - A conference call and webcast will be held on the same day at 10:00 a.m. EST to discuss the financial results and corporate updates [1] - The company specializes in regenerative and aesthetic medicine, focusing on non-animal-derived collagen for tissue regeneration and medical aesthetics [1][5] Group 2 - CollPlant's products are based on rhCollagen, produced through proprietary plant-based genetic engineering technology, addressing tissue repair, aesthetics, and organ manufacturing [5] - In 2021, CollPlant entered a development and global commercialization agreement for dermal and soft tissue fillers with Allergan, a leader in the dermal filler market [6]

Core Viewpoint - CollPlant Biotechnologies and Stratasys Ltd. have initiated a preclinical study to develop 200cc regenerative breast implants using Stratasys' 3D printing technology, aiming to provide a natural alternative to traditional implants [1][2]. Company Overview - CollPlant specializes in regenerative and aesthetic medicine, focusing on rhCollagen-based technologies for tissue regeneration and organ production [3]. - Stratasys is a leader in polymer 3D printing solutions and has modified its Origin printer for this collaboration [3]. Study Details - The preclinical study will evaluate the implants' ability to grow natural breast tissue and fully degrade over time [2][4]. - Initial results from the study are expected in the first half of 2025 [3]. Market Potential - CollPlant's innovative breast implants are positioned to capture a significant share of the $3 billion global breast implant market, offering a groundbreaking alternative for reconstructive and cosmetic procedures [5][6]. - Traditional breast augmentation procedures typically use synthetic silicone implants, which carry risks of complications [6]. Price Performance - Year-to-date, CollPlant's shares have decreased by 24.1%, contrasting with a 0.2% rise in the industry and a 17.7% increase in the S&P 500 [7].

Financial Data and Key Metrics Changes - GAAP revenues for Q2 2024 were $249,000, a significant decrease from $10.2 million in Q2 2023, primarily due to a $10 million milestone payment received in 2023 from AbbVie [14] - GAAP gross loss for Q2 2024 was $287,000, compared to a gross profit of $9.6 million in Q2 2023 [14] - GAAP net loss for Q2 2024 was $4.2 million, or $0.37 basic loss per share, compared to a net income of $5.8 million, or $0.51 basic income per share, for Q2 2023 [15] - Cash and cash equivalents as of June 30, 2024, were $18.9 million, providing a runway expected to satisfy operational requirements until at least the end of 2025 [16] Business Line Data and Key Metrics Changes - The breast implant program has progressed to testing 200 cc volume implants in preclinical studies, with the potential to address a $3 billion global breast implant market projected to grow to $6.5 billion by 2033 [6][7] - The dermal filler product, co-developed with AbbVie, is in the clinical phase, with a milestone payment of $10 million received last year [9][14] Market Data and Key Metrics Changes - The dermal filler market experienced a recent slowdown but has shown signs of recovery, evidenced by merger and acquisition activity [10] - The breast implant market is currently underserved in terms of safety and performance, with existing materials posing risks such as immunogenicity [7] Company Strategy and Development Direction - The company aims to lead in regenerative medicine through innovative collagen technology, focusing on the development of regenerative breast implants and dermal fillers [12][35] - The company has released its first environmental, social, and governance (ESG) report, emphasizing its commitment to sustainability and health [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the regenerative breast implant's potential to revolutionize aesthetic and reconstructive procedures, addressing safety concerns associated with current implants [6][8] - The company plans to advance the dermal filler program with AbbVie and generate additional safety and efficacy data for the breast implants [35] Other Important Information - The company is avoiding the use of growth factors in its scaffold technology to prevent regulatory complications, instead relying on collagen and other biomaterials [27] - The degradation of the scaffold is controlled through enzymatic degradation, hydrolysis, and oxidation, with a degradation time of six to twelve months [28] Q&A Session Summary Question: Differences between breast implants and dermal fillers - The breast implants are 3D bioprinted scaffolds that degrade and are replaced by naturally grown tissue, while dermal fillers require repeat injections and serve different purposes [18][19] Question: Key findings in the preclinical study for breast implants - The studies aim to optimize formulations, design, performance, safety, and efficacy, with a focus on fat tissue regeneration and implant degradation kinetics [21][22] Question: Next steps in the AbbVie collaboration - The dermal filler product is in clinical studies, with expectations of reaching commercialization milestones totaling $26 million, plus royalties upon approval [24] Question: Growth factors in the scaffold - The company does not use growth factors to avoid regulatory issues, relying instead on collagen's cell-binding properties to attract surrounding tissue cells [27] Question: Predictiveness of animal models - The company has developed a reliable animal model and a computational biomechanics discipline to predict scaffold behavior in humans, which will support FDA submissions [30]

Financial Performance - Total revenues for the six months ended June 30, 2024, were $347 million, compared to $249 million for the same period in 2023, representing a 39.5% increase[36]. - Total revenues for the six months ended June 2024 were $347,000, compared to $10,617,000 for the same period in 2023, indicating a significant decrease[89]. - Revenues from the sales of goods for the three months ended June 2024 were $249,000, down from $184,000 in the same period of 2023[89]. - Revenues from milestones for the six months ended June 2024 were $30,000, consistent with the previous year[89]. - Total revenues for the three months ended June 2024 were $249,000, compared to $10,184,000 for the same period in 2023, showing a substantial decline[89]. Net Loss and Earnings - The net loss for the period was $8,405 million, compared to a net income of $2,047 million for the same period in 2023[36]. - Basic net loss per ordinary share for the six months ended June 30, 2024, was $(0.73), compared to a profit of $0.18 per share for the same period in 2023[36]. - As of June 30, 2024, the company reported a net loss of $8,405,000, with an accumulated deficit of $105,146,000[69]. - The basic net loss per share for the six months ended June 30, 2024, was $(0.73), compared to a net income per share of $0.18 for the same period in 2023[73]. Assets and Liabilities - Current assets decreased to $20,335,000 as of June 30, 2024, from $28,022,000 as of December 31, 2023, reflecting a decline of approximately 27.6%[33]. - Total assets decreased to $26,566,000 as of June 30, 2024, from $34,126,000 as of December 31, 2023, indicating a reduction of approximately 22.2%[33]. - Total liabilities as of June 30, 2024, were $5,837 million, slightly up from $5,786 million as of December 31, 2023[35]. - Total shareholders' equity decreased to $20,729 million as of June 30, 2024, from $28,340 million as of December 31, 2023, indicating a decline of 26.8%[35]. Cash Flow and Liquidity - Cash and cash equivalents at the end of the period were $18,920 million, down from $22,366 million at the end of the same period in 2023, a decrease of 15.8%[47]. - The company's cash and cash equivalents as of June 30, 2024, totaled $18,920,000, providing sufficient funds to support operations for more than 12 months[69]. - The company incurred negative cash flows from operating activities amounting to $7,181,000 for the six months ended June 30, 2024[69]. - The company anticipates future net losses and will need to raise additional cash to support its operations until profitability is achieved[51]. Research and Development - Research and development expenses increased to $5,103 million for the six months ended June 30, 2024, from $4,676 million in the same period of 2023, reflecting an increase of 9.1%[36]. - Research and development expenses for the six months ended June 30, 2024, were $410,000, compared to $307,000 for the same period in 2023[86]. Stock Options and Compensation - During the six months ended June 30, 2024, the company granted options totaling 41,500, with a weighted average exercise price of $5.34[19]. - The fair value of options granted during the six months ended June 30, 2024, was $169,000, compared to $505,000 for the same period in 2023[19]. - As of June 30, 2024, the company had 1,764,005 options outstanding, with a weighted average exercise price of $5.78[19]. - The total incremental fair value of options granted to employees was $197,000, based on the Black-Scholes pricing model[76]. - As of June 30, 2024, there was $2,213,000 of unrecognized compensation expense related to unvested RSUs and options, expected to be recognized over a weighted-average period of 1.9 years[86]. - The company granted 261,000 restricted share units (RSUs) with a weighted average grant date fair value of $5.13 during the six months ended June 30, 2024[77]. Inventory Management - As of June 30, 2024, total inventories decreased to $439,000 from $714,000 as of December 31, 2023, representing a decline of approximately 38.5%[2]. - The company recorded approximately $268,000 for write-down of inventories under cost of revenues during the six months ended June 30, 2024[28]. Business Development - The company achieved a milestone in June 2023 related to the clinical phase dermal filler product, resulting in a $10,000 payment from AbbVie, received in July 2023[9]. - The company is focused on the development and commercialization of its products, including BioInk for 3D bioprinting and rhCollagen for medical aesthetics[50]. - The company has not commenced operations for its wholly-owned subsidiary, CollPlant Inc., established in November 2021[68].

- Recently initiated a pre-clinical trial with CollPlant's rhCollagen-based regenerative breast implants, printed with Stratasys' Origin® 3D printer that are 200cc in volume - Breast implants could address a $3.0 billion market opportunity - Cash and cash equivalents balance as of June 30, 2024 was $18.9 million - Conference call to be held today at 10:00 a.m. U.S. EDT REHOVOT, Israel, Aug. 20, 2024 /PRNewswire/ -- CollPlant Biotechnologies (NASDAQ: CLGN), a regenerative and aesthetics medicine company deve ...

Conference call to be held on Tuesday, August 20, 2024, at 10:00 a.m. U.S. EDT REHOVOT, Israel, Aug. 6, 2024 /PRNewswire/ -- CollPlant Biotechnologies (Nasdaq: CLGN), a regenerative and aesthetics medicine company developing innovative technologies and products based on its non-animalderived collagen for tissue regeneration and medical aesthetics, today announced that it will report financial statements for the second quarter of 2024 on Tuesday, August 20, 2024, before the opening of the U.S. financial mark ...

REHOVOT, Israel, July 29, 2024 /PRNewswire/ -- CollPlant Biotechnologies (Nasdaq: CLGN), a regenerative and aesthetics medicine company developing innovative technologies and products based on its non-animalderived collagen for tissue regeneration and medical aesthetics, today announced the release of its inaugural Environmental, Social and Corporate Governance (ESG) and Sustainability Report covering 2023. Commercial-size implants, CollPlant's 3D bioprinted regenerative breast implants under development Co ...