[Executive Summary & Q3 2023 Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Q3%202023%20Highlights) CollPlant's Q3 2023 highlights include a major AbbVie milestone, regenerative breast implant progress, and a strong two-year cash runway [Key Financial and Operational Highlights](index=1&type=section&id=Key%20Financial%20and%20Operational%20Highlights) CollPlant's Q3 2023 results highlight a significant AbbVie milestone, regenerative breast implant progress, and a strong two-year cash runway - Received a **$10 million** milestone payment in the third quarter from partner, AbbVie Inc., for achieving a major milestone in the second quarter related to the clinical-phase dermal filler product candidate[1](index=1&type=chunk)[4](index=4&type=chunk) - Company is preparing to launch a large-animal study with a commercial size breast implant by year-end[2](index=2&type=chunk)[3](index=3&type=chunk) Key Financials (Nine Months Ended September 30, 2023) | Metric | Amount ($ million) | | :----------------- | :---------- | | Revenues | 10.7 | | Operating Loss | 2.4 | | Cash & Equivalents | 29.0 | - Cash and cash equivalents totaled **$29 million** as of September 30, 2023, representing an estimated cash runway of at least **two years**[2](index=2&type=chunk)[28](index=28&type=chunk) [Corporate and Program Updates](index=2&type=section&id=Corporate%20and%20Program%20Updates) CollPlant provided updates on its dermal filler, breast implants, gut-on-a-chip, bioink portfolio, and ESG initiatives [Dermal and Soft Tissue Filler Program](index=2&type=section&id=Dermal%20and%20Soft%20Tissue%20Filler%20Program) CollPlant achieved a significant milestone with AbbVie for its dermal filler, triggering a **$10 million** Q3 payment and potential future royalties - Achieved a milestone with respect to the dermal and soft tissue filler product candidate, in accordance with its collaboration agreement with AbbVie, triggering a **$10 million** payment received in Q3[1](index=1&type=chunk)[4](index=4&type=chunk) - CollPlant has the potential to receive additional milestone payments as well as future royalties in accordance with its long-term collaboration with AbbVie[4](index=4&type=chunk) [Photocurable Dermal Filler Patent](index=2&type=section&id=Photocurable%20Dermal%20Filler%20Patent) CollPlant secured a U.S. patent for its photocurable dermal filler, providing IP protection until **2039** and strengthening its market position - U.S. Patent No. **11,801,329** was granted, covering CollPlant's photocurable dermal filler product candidate for the aesthetics market, providing intellectual property protection until **2039**[5](index=5&type=chunk) - The patent is directed to a method of filling tissue space under the epidermis by introducing a polymerizable filler solution and applying external light to induce in-situ polymerization[5](index=5&type=chunk) [Regenerative Breast Implants Program](index=2&type=section&id=Regenerative%20Breast%20Implants%20Program) CollPlant is advancing its regenerative breast implants program, planning a large-animal study by year-end after positive tissue regeneration results - CollPlant is planning to initiate the next large-animal study to evaluate commercial size, **3D bioprinted**, regenerative breast implants by year-end[2](index=2&type=chunk)[6](index=6&type=chunk) - Positive results from the first large-animal study demonstrated progressive stages of tissue regeneration and neovascular networks within the implants, with no adverse events reported[6](index=6&type=chunk) - CollPlant's breast implants, comprised of proprietary plant-derived rhCollagen, are expected to regenerate breast tissue without eliciting immune response, offering a revolutionary alternative for aesthetic and reconstructive procedures[18](index=18&type=chunk) [Gut-on-a-Chip Development](index=2&type=section&id=Gut-on-a-Chip%20Development) CollPlant is independently developing a **3D bioprinted** gut tissue model for personalized IBD treatment, successfully growing epithelial cells on scaffolds - CollPlant is developing a gut tissue model to enable predictive and personalized treatment for inflammatory bowel diseases (IBD) by mimicking gut structure using high-resolution **3D printing** and rhCollagen-based bioink[19](index=19&type=chunk) - The CollPlant team successfully grew epithelial cells on **3D printed** scaffolds that mimic the gut tissue geometry[19](index=19&type=chunk) - CollPlant elected to terminate its collaboration agreement with Tel Aviv University and Sheba Medical Center and continues to develop this program on its own[19](index=19&type=chunk) [Commercial Bioink Solutions Portfolio](index=3&type=section&id=Commercial%20Bioink%20Solutions%20Portfolio) CollPlant expanded its BioInks portfolio with a third formulation, enabling diverse **3D bioprinting** applications and streamlining product development - CollPlant has released a **third BioInk formulation** to the market and continues to expand its BioInks portfolio, enabling a wide range of **3D bioprinting** applications[8](index=8&type=chunk) - Applications include drug discovery, drug screening, tissue testing, and the development of transplantable tissues and organs[8](index=8&type=chunk) - CollPlant's bioink platform is intended to enable customers to streamline new product development, accelerate timelines, and reduce overall costs[21](index=21&type=chunk) [Environmental, Social, and Governance (ESG) Initiatives](index=3&type=section&id=Environmental%2C%20Social%2C%20and%20Governance%20%28ESG%29%20Initiatives) CollPlant strengthens its ESG commitment by hiring a dedicated manager and joining the UN Global Compact, aligning with SEC standards - CollPlant recruited a dedicated manager to analyze, formulate, and execute upon the set of standards for its Environmental, Social and Governance (ESG) program[9](index=9&type=chunk) - This initiative is designed to help CollPlant meet SEC standards for publicly listed companies and align with sustainable values[9](index=9&type=chunk) - In September, CollPlant announced its participation in the United Nations Global Compact, the world's largest initiative for sustainable and responsible corporate governance[22](index=22&type=chunk) [Financial Results for Q3 and Nine Months Ended September 30, 2023](index=3&type=section&id=Financial%20Results%20for%20Q3%20and%20Nine%20Months%20Ended%20September%2030%2C%202023) CollPlant's Q3 and nine-month financial results show significant revenue growth, improved gross profit, and reduced net loss, driven by an AbbVie milestone [Revenues](index=3&type=section&id=Revenues) CollPlant's GAAP revenues for the nine months ended September 30, 2023, significantly increased to **$10.7 million**, driven by the AbbVie milestone, despite a Q3 decrease GAAP Revenues Comparison | Period | 2023 ($ million) | 2022 ($ million) | Change ($ million) | Change (%) | | :---------------------- | :-------- | :-------- | :---------- | :--------- | | Nine Months Ended Sep 30 | 10.7 | 0.241 | +10.5 | +4357% | | Three Months Ended Sep 30 | 0.043 | 0.109 | -0.066 | -60.6% | - The increase in nine-month revenues is mainly related to the achievement of a milestone under the AbbVie Agreement and an increase in sales of rhCollagen products[10](index=10&type=chunk) [Cost of Revenues](index=3&type=section&id=Cost%20of%20Revenues) GAAP cost of revenues increased for both nine-month and Q3 periods, driven by AbbVie milestone royalties, BioInk/rhCollagen sales, and inventory impairments GAAP Cost of Revenues Comparison | Period | 2023 ($ million) | 2022 ($ million) | Change ($ million) | Change (%) | | :---------------------- | :-------- | :-------- | :---------- | :--------- | | Nine Months Ended Sep 30 | 1.2 | 0.338 | +0.880 | +260.4% | | Three Months Ended Sep 30 | 0.278 | 0.264 | +0.014 | +5.3% | - The nine-month increase is mainly comprised of **$312,000** in royalty expenses to the IIA related to the AbbVie milestone payment, and **$430,000** relating to the sales of BioInk, VergenixFG, and rhCollagen[11](index=11&type=chunk) - The third-quarter increase in cost of revenues is mainly related to inventory impairments[49](index=49&type=chunk) [Gross Profit (Loss)](index=4&type=section&id=Gross%20Profit%20%28Loss%29) CollPlant reported a **$9.4 million** GAAP gross profit for the nine months ended September 30, 2023, a significant improvement from prior year's loss, despite a Q3 gross loss GAAP Gross Profit (Loss) Comparison | Period | 2023 ($ million) | 2022 ($ million) | | :---------------------- | :-------- | :-------- | | Nine Months Ended Sep 30 | 9.4 | (0.097) | | Three Months Ended Sep 30 | (0.235) | (0.155) | [Operating Expenses](index=4&type=section&id=Operating%20Expenses) GAAP operating expenses for the nine months ended September 30, 2023, decreased by **$0.438 million**, due to reduced R&D and G&A, while Q3 operating expenses slightly increased GAAP Operating Expenses Comparison | Period | 2023 ($ million) | 2022 ($ million) | Change ($ million) | Change (%) | | :---------------------- | :-------- | :-------- | :---------- | :--------- | | Nine Months Ended Sep 30 | 11.9 | 12.3 | -0.438 | -3.6% | | Three Months Ended Sep 30 | 4.4 | 4.3 | +0.1 | +2.3% | - The nine-month decrease is mainly attributed to **$247,000** in research and product development activities and approximately **$191,000** in general and administrative expenses, primarily due to a decrease in share-based compensation expenses[51](index=51&type=chunk) [Financial Income (Expenses), Net](index=4&type=section&id=Financial%20Income%20%28Expenses%29%2C%20Net) CollPlant saw a positive shift in net financial income for both nine-month and Q3 periods, driven by higher interest rates and earnings from short-term cash deposits GAAP Financial Income (Expenses), Net Comparison | Period | 2023 ($ million) | 2022 ($ million) | | :---------------------- | :-------- | :-------- | | Nine Months Ended Sep 30 | 0.114 | (0.103) | | Three Months Ended Sep 30 | 0.225 | 0.089 | - The increase in financial income, net, is due to the increase in interest rates and interest received from the Company's short-term cash deposits[13](index=13&type=chunk)[26](index=26&type=chunk) [Net Loss and Basic Loss Per Share](index=5&type=section&id=Net%20Loss%20and%20Basic%20Loss%20Per%20Share) CollPlant significantly reduced its GAAP net loss for the nine months ended September 30, 2023, to **$2.3 million**, a substantial improvement from prior year, while Q3 net loss remained stable GAAP Net Loss and Basic Loss Per Share Comparison | Period | 2023 Net Loss ($ million) | 2022 Net Loss ($ million) | 2023 Basic EPS ($) | 2022 Basic EPS ($) | | :---------------------- | :----------------- | :----------------- | :----------------- | :----------------- | | Nine Months Ended Sep 30 | (2.3) | (12.5) | (0.20) | (1.14) | | Three Months Ended Sep 30 | (4.4) | (4.4) | (0.38) | (0.40) | Non-GAAP Net Loss and Basic Loss Per Share Comparison | Period | 2023 Non-GAAP Net Loss ($ million) | 2022 Non-GAAP Net Loss ($ million) | 2023 Non-GAAP Basic EPS ($) | 2022 Non-GAAP Basic EPS ($) | | :---------------------- | :-------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | | Nine Months Ended Sep 30 | (1.2) | (11.2) | (0.11) | (1.02) | | Three Months Ended Sep 30 | (4.0) | (3.7) | (0.35) | (0.34) | [Condensed Consolidated Financial Statements](index=7&type=section&id=Condensed%20Consolidated%20Financial%20Statements) CollPlant's condensed consolidated financial statements provide a detailed overview of its balance sheets, statements of operations, and cash flows for the reported periods [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2023, CollPlant's balance sheet shows slight decreases in total assets and liabilities, with cash and cash equivalents remaining a significant current asset Condensed Consolidated Balance Sheets (U.S. dollars in thousands) | Metric | Sep 30, 2023 (Unaudited) ($ thousand) | Dec 31, 2022 (Audited) ($ thousand) | | :--------------------------- | :------------------------------------ | :---------------------------------- | | Cash and cash equivalents | 28,981 | 29,653 | | Total current assets | 31,207 | 31,658 | | Total non-current assets | 6,351 | 6,110 | | Total assets | 37,558 | 37,768 | | Total current liabilities | 2,634 | 3,105 | | Total non-current liabilities | 2,526 | 2,382 | | Total liabilities | 5,160 | 5,487 | | Total shareholders' equity | 32,398 | 32,281 | [Condensed Consolidated Statements of Operations](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The Condensed Consolidated Statements of Operations reflect significant improvement in nine-month net loss, driven by increased revenues and gross profit, despite an operating loss Condensed Consolidated Statements of Operations (U.S. dollars in thousands) | Metric | Nine Months Ended Sep 30, 2023 ($ thousand) | Nine Months Ended Sep 30, 2022 ($ thousand) | Three Months Ended Sep 30, 2023 ($ thousand) | Three Months Ended Sep 30, 2022 ($ thousand) | | :------------------------------------------------------------------- | :------------------------------------------ | :------------------------------------------ | :------------------------------------------- | :------------------------------------------- | | Revenues | 10,660 | 241 | 43 | 109 | | Cost of Revenue | 1,218 | 338 | 278 | 264 | | Gross Profit (loss) | 9,442 | (97) | (235) | (155) | | Operating expenses: | | | | | | Research and development | 7,371 | 7,618 | 2,695 | 2,777 | | General, administrative and marketing | 4,515 | 4,706 | 1,672 | 1,536 | | Total Operating loss | (2,444) | (12,421) | (4,602) | (4,468) | | Financial income (expenses), net | 114 | (103) | 225 | 89 | | Net loss for the period | (2,330) | (12,524) | (4,377) | (4,379) | | Basic and diluted loss per ordinary share | (0.20) | (1.14) | (0.38) | (0.40) | | Weighted average ordinary shares outstanding used in computation of basic and diluted loss per share | 11,367,767 | 10,986,454 | 11,443,023 | 11,086,481 | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) CollPlant's operating cash flow significantly improved, shifting from substantial use to minor use, driven by the AbbVie milestone, while investing activities shifted to cash usage Net Cash Flows (U.S. dollars in thousands) | Activity | Nine Months Ended Sep 30, 2023 ($ thousand) | Nine Months Ended Sep 30, 2022 ($ thousand) | | :------------------------------------- | :------------------------------------------ | :------------------------------------------ | | Net cash used in operating activities | (418) | (10,352) | | Net cash provided by (used in) investing activities | (784) | 29,226 | | Net cash provided by financing activities | 1,108 | 1,474 | | Net increase (decrease) in cash and cash equivalents and restricted deposits | (94) | 20,348 | [Cash Flows from Operating Activities](index=5&type=section&id=Cash%20Flows%20from%20Operating%20Activities) Q3 2023 operating cash flow was **$6.8 million** provided, a significant improvement, and nine-month cash used decreased, both benefiting from the **$10 million** AbbVie milestone Cash Flows from Operating Activities Comparison | Period | 2023 ($ million) | 2022 ($ million) | | :---------------------- | :------------- | :------------- | | Three Months Ended Sep 30 | 6.8 (provided) | 3.2 (used) | | Nine Months Ended Sep 30 | 0.418 (used) | 10.4 (used) | - Cash provided in the three and nine-month periods ended September 30, 2023, includes the **$10 million** milestone payment from AbbVie[15](index=15&type=chunk) [Cash Flows from Investing Activities](index=5&type=section&id=Cash%20Flows%20from%20Investing%20Activities) Q3 2023 cash used in investing activities decreased, and nine-month investing shifted from cash provision to usage, primarily due to changes in short-term cash deposits Cash Flows from Investing Activities Comparison | Period | 2023 ($ million) | 2022 ($ million) | | :---------------------- | :------------- | :------------- | | Three Months Ended Sep 30 | 0.243 (used) | 0.322 (used) | | Nine Months Ended Sep 30 | 0.784 (used) | 29.2 (provided)| - The decrease in cash provided by investing activities for the nine months is mainly attributed to repayment and investment in short-term cash deposits during the nine months ended September 30, 2022[54](index=54&type=chunk) [Cash Flows from Financing Activities](index=5&type=section&id=Cash%20Flows%20from%20Financing%20Activities) Q3 2023 financing cash provided was **$0.216 million**, an increase from prior year, and nine-month cash was **$1.1 million**, mainly from option and warrant exercises Cash Flows from Financing Activities Comparison | Period | 2023 ($ million) | 2022 ($ million) | | :---------------------- | :------------- | :------------- | | Three Months Ended Sep 30 | 0.216 (provided) | 0 (provided) | | Nine Months Ended Sep 30 | 1.1 (provided) | 1.5 (provided) | - Cash provided by financing activities is mainly attributed to proceeds from the exercise of options and warrants into shares[29](index=29&type=chunk) [Cash and Cash Equivalents](index=5&type=section&id=Cash%20and%20Cash%20Equivalents) CollPlant maintained a strong cash position with **$29 million** in cash and cash equivalents as of September 30, 2023, providing an estimated cash runway of at least **two years** - Cash and cash equivalents as of September 30, 2023, were **$29 million**[2](index=2&type=chunk)[28](index=28&type=chunk) - Based on current estimates, the cash balance represents a company cash runway of at least **two years** of operation as of November 2023[2](index=2&type=chunk)[28](index=28&type=chunk) [Reconciliation of GAAP to Non-GAAP Financial Measures](index=4&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Measures) This section reconciles GAAP to non-GAAP financial measures, providing adjusted operating expenses, loss, net loss, and EPS by excluding non-cash items [Non-GAAP Operating Expenses and Loss](index=4&type=section&id=Non-GAAP%20Operating%20Expenses%20and%20Loss) CollPlant's non-GAAP operating expenses and loss for both Q3 and nine-month periods showed improvements or slight increases, reflecting adjustments for non-cash expenses Non-GAAP Operating Expenses Comparison (U.S. dollars in thousands) | Period | 2023 Non-GAAP Operating Expenses ($ thousand) | 2022 Non-GAAP Operating Expenses ($ thousand) | | :---------------------- | :------------------------------------------ | :------------------------------------------ | | Nine Months Ended Sep 30 | 10,560 | 11,047 | | Three Months Ended Sep 30 | 3,860 | 3,668 | Non-GAAP Operating Loss Comparison (U.S. dollars in thousands) | Period | 2023 Non-GAAP Operating Loss ($ thousand) | 2022 Non-GAAP Operating Loss ($ thousand) | | :---------------------- | :---------------------------------------- | :---------------------------------------- | | Nine Months Ended Sep 30 | (1,118) | (11,144) | | Three Months Ended Sep 30 | (4,095) | (3,823) | [Non-GAAP Net Loss and EPS](index=4&type=section&id=Non-GAAP%20Net%20Loss%20and%20EPS) Non-GAAP net loss for the nine months ended September 30, 2023, significantly decreased to **$1.2 million**, reflecting a substantial improvement, while the Q3 non-GAAP net loss slightly increased Non-GAAP Net Loss and Basic Loss Per Share Comparison (U.S. dollars in thousands) | Period | 2023 Non-GAAP Net Loss ($ thousand) | 2022 Non-GAAP Net Loss ($ thousand) | 2023 Non-GAAP Basic EPS ($) | 2022 Non-GAAP Basic EPS ($) | | :---------------------- | :---------------------------------- | :---------------------------------- | :-------------------------- | :-------------------------- | | Nine Months Ended Sep 30 | (1,239) | (11,247) | (0.11) | (1.02) | | Three Months Ended Sep 30 | (3,957) | (3,734) | (0.35) | (0.34) | [Explanation of Non-GAAP Measures](index=13&type=section&id=Explanation%20of%20Non-GAAP%20Measures) CollPlant uses non-GAAP measures, excluding non-cash expenses like share-based compensation, to provide supplemental performance information and compare historical results - Non-GAAP financial measures exclude the effects of non-cash expense for share-based compensation to employees, directors and consultants, and change in operating lease accounts[44](index=44&type=chunk) - Management believes these non-GAAP measures provide meaningful supplemental information regarding the Company's performance, enhancing the ability to evaluate operating costs, net income (loss), and EPS, and to compare them to historical results[44](index=44&type=chunk) - The presentation of non-GAAP financial information is not intended to be considered in isolation or as a substitute for financial information prepared and presented in accordance with GAAP[66](index=66&type=chunk) [Additional Information](index=6&type=section&id=Additional%20Information) This section provides background on CollPlant, webcast details, forward-looking statement disclaimers, and contact information [About CollPlant](index=13&type=section&id=About%20CollPlant) CollPlant Biotechnologies is a regenerative and aesthetic medicine company specializing in **3D bioprinting** and medical aesthetics, using proprietary rhCollagen technology - CollPlant is a regenerative and aesthetic medicine company focused on **3D bioprinting** of tissues and organs, and medical aesthetics[42](index=42&type=chunk) - The Company's products are based on its rhCollagen (recombinant human collagen) produced with CollPlant's proprietary plant-based genetic engineering technology[42](index=42&type=chunk) - In **2021**, CollPlant entered into a development and global commercialization agreement for dermal and soft tissue fillers with Allergan, an AbbVie company[64](index=64&type=chunk) [Webcast and Conference Call Information](index=6&type=section&id=Webcast%20and%20Conference%20Call%20Information) CollPlant provided details for its Q3 2023 earnings conference call and webcast, including dial-in numbers and a link for live and replay access - A conference call was scheduled for **November 29, 2023**, at **10:00 am U.S. ET** to discuss the financial results[2](index=2&type=chunk) - Dial-in information for U.S., international, and Israel investors, along with a live webcast link and replay availability, were provided[30](index=30&type=chunk)[55](index=55&type=chunk) [Forward-Looking Statements](index=14&type=section&id=Forward-Looking%20Statements) This section contains forward-looking statements regarding CollPlant's future performance and plans, subject to risks and uncertainties that could cause actual results to differ materially - Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied[48](index=48&type=chunk)[69](index=69&type=chunk) - Many factors could cause actual results to differ, including significant losses, need for additional capital, timing and cost of clinical trials, regulatory actions, commercial success, strategic partnerships, manufacturing reliance, intellectual property, economic conditions, and geopolitical events like the Israel-Hamas war[48](index=48&type=chunk) - CollPlant does not undertake and specifically disclaims any obligation to update or revise any forward-looking statements[48](index=48&type=chunk) [Contacts](index=14&type=section&id=Contacts) Contact information for CollPlant's Deputy CEO & CFO, Eran Rotem, and investor relations through LifeSci Advisors - Eran Rotem, Deputy CEO & CFO, can be contacted at **+972-73-2325600** or Eran@collplant.com[70](index=70&type=chunk) - For investor inquiries, John Mullaly of LifeSci Advisors can be reached at jmullaly@lifesciadvisors.com[70](index=70&type=chunk)

Financial Data and Key Metrics Changes - For Q2 2023, GAAP revenues were $10.2 million, a significant increase from $66,000 in Q2 2022, primarily due to a $10 million milestone payment from AbbVie [51][52] - GAAP gross profit for Q2 2023 was $9.6 million compared to $23,000 in Q2 2022, positively impacted by the AbbVie milestone [53] - GAAP net income for Q2 2023 was $5.8 million or $0.51 per share, compared to a net loss of $4.3 million or $0.39 per share in Q2 2022 [61] Business Line Data and Key Metrics Changes - The dermal filler product candidate with AbbVie is in clinical phase and has the potential to create a paradigm shift in the fillers market, with additional milestone payments of up to $26 million expected [39][52] - The regenerative breast implants program is set to initiate a second large animal study by year-end to evaluate safety and efficacy [40] Market Data and Key Metrics Changes - The global dermal filler market is currently valued at approximately $5.5 billion, with an expected annual growth rate of 10% [7] - Allergan, a key player in the dermal filler market, generates annual sales between $1.5 billion and $2 billion [9] Company Strategy and Development Direction - The company aims to lead in regenerative medicine, focusing on developing advanced organ and tissue solutions using non-animal derived recombinant human collagen technology [38] - Collaborations with industry leaders, such as Stratasys, are intended to enhance the development of biofabrication solutions for regenerative breast implants and other tissues [42][43] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing collaboration with AbbVie and the potential for future royalties and milestone payments [39][52] - The company is committed to advancing its ESG initiatives and has hired an expert to lead these efforts [50] Other Important Information - As of June 30, 2023, the company had $22.4 million in cash, which does not include the $10 million milestone payment received in July [56] - The company has no outstanding debt and expects its cash reserves to last for at least two years based on current operational expenses [30] Q&A Session Summary Question: What is the regulatory pathway for the breast implant program? - The regulatory pathway is likely a PMA pathway, with a combination of CDRH and CBER involved, focusing on safety and efficacy in upcoming studies [58] Question: When can the PMA process start? - It is premature to determine the timeline for the PMA process as the company needs to complete the upcoming study first [64] Question: How does the company plan to monetize the gut-on-a-chip program? - The monetization strategy for the gut-on-a-chip program is still being developed, with potential for providing services to the drug developer market [65]

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) Q1 2023 Earnings Conference Call May 24, 2023 10:00 AM ET Company Participants Dory Kurowski - LifeSci Advisors Yehiel Tal - CEO Eran Rotem - Deputy CEO and CFO Conference Call Participants Ben Haynor - Alliance Global Partners Swayampakula Ramakanth - H.C. Wainwright Operator Welcome to the CollPlant Biotechnologies Investor Conference Call to discuss Financial Results for the First Quarter of 2023 and Corporate Updates. I'd now like to turn the call over to you ...

[Executive Summary & Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Highlights) CollPlant Biotechnologies reported Q1 2023 financial results, highlighting progress in strategic collaborations, successful completion of a large-animal study for regenerative breast implants, and strong sales of rhCollagen-based products [Q1 2023 Key Achievements](index=1&type=section&id=Q1%202023%20Key%20Achievements) CollPlant Biotechnologies announced its first quarter 2023 financial results and provided a corporate update, emphasizing continued progress in strategic collaborations, successful completion of a large-animal study for 3D bioprinted regenerative breast implants, and a strong sales trajectory for its rhCollagen-based products - Continued advancement of strategic collaboration with AbbVie to develop dermal and soft tissue filler products using CollPlant's recombinant human Collagen[17](index=17&type=chunk) - Announced a collaborative agreement with Stratasys, a world-leader in 3D printing, to utilize their proprietary 3D printer technology with CollPlant's rhCollagen-based bioinks for high-resolution, scalable bioprinting of scaffolds[17](index=17&type=chunk) - Successfully completed the first large-animal study for 3D bioprinted regenerative breast implants and is readying sites to begin a second large-animal study planned in the second half of 2023[17](index=17&type=chunk)[29](index=29&type=chunk)[30](index=30&type=chunk) - Reported a **strong positive sales trajectory** for rhCollagen based products[29](index=29&type=chunk) [Corporate Update](index=2&type=section&id=Corporate%20Update) CollPlant advanced its 3D bioprinted regenerative breast implant program, expanded strategic collaborations with Stratasys and AbbVie, and diversified its rhCollagen-based bioink portfolio for various medical applications [Recent Corporate Highlights](index=2&type=section&id=Recent%20Corporate%20Highlights) In January 2023, CollPlant successfully completed a large-animal study for its 3D bioprinted regenerative breast implants, demonstrating progressive tissue regeneration and neovascular networks with no adverse events. A follow-up study is planned for the second half of 2023 to support human studies and future commercialization - Successfully completed a large-animal study for 3D bioprinted regenerative breast implants in January 2023, showing progressive tissue regeneration and neovascular networks after three months with **no adverse events**[18](index=18&type=chunk) - Planning to initiate a follow-up, second, large-animal study in the second half of 2023 to support subsequent human studies and future product commercialization[18](index=18&type=chunk) [Collaboration Updates](index=2&type=section&id=Collaboration%20Updates) CollPlant entered a joint development and commercialization agreement with Stratasys in April 2023 to bio-fabricate human tissues and organs, with an initial focus on regenerative breast implants. Additionally, a long-term preclinical study for CollPlant's photocurable dermal and soft-tissue filler demonstrated superior tissue regeneration and volume retention, granting AbbVie the right of first negotiation for a worldwide exclusive license - In April 2023, CollPlant announced a joint development and commercialization agreement with Stratasys to collaborate on bio-fabricating human tissues and organs using Stratasys' P3™ 3D technology-based bioprinter and CollPlant's rh-Collagen-based bioinks[19](index=19&type=chunk) - The first project with Stratasys focuses on developing an industrial-scale solution for CollPlant's regenerative breast implants program[19](index=19&type=chunk) - Twelve-month study results from a long-term preclinical study for CollPlant's photocurable dermal and soft-tissue filler demonstrated **superior tissue regeneration, lifting capacity, and volume retention** compared to a commercial standard[20](index=20&type=chunk) - CollPlant has granted its global pharmaceutical partner, AbbVie, the right of first negotiation to obtain a worldwide exclusive license to this product, with potential for additional milestone payments and future royalties, expecting the first milestone in 2023[20](index=20&type=chunk)[32](index=32&type=chunk) [Program Development](index=2&type=section&id=Program%20Development) CollPlant is developing breast implants composed of its proprietary plant-derived rhCollagen and other biomaterials, aiming to regenerate breast tissue without eliciting an immune response, offering a revolutionary alternative for aesthetic and reconstructive procedures. The company is also developing a photocurable regenerative soft tissue filler that combines rhCollagen with hyaluronic acid for contouring effects in aesthetic medicine - CollPlant's breast implants, comprised of proprietary plant-derived rhCollagen and other biomaterials, are expected to regenerate breast tissue without eliciting immune response, potentially providing a **revolutionary alternative** for aesthetic and reconstructive procedures[31](index=31&type=chunk) - CollPlant is developing a photocurable regenerative soft tissue filler for aesthetic medicine, based on a holistic platform technology combining rhCollagen properties with hyaluronic acid for contouring effects[33](index=33&type=chunk) - CollPlant remains engaged in partnering discussions with several industry leaders and academic institutions interested in its rhCollagen technology and expertise in 3D bioprinting to develop therapeutics and medical applications[49](index=49&type=chunk) [Commercial Portfolio of Bioink Solutions](index=3&type=section&id=Commercial%20Portfolio%20of%20Bioink%20Solutions) CollPlant expanded its rhCollagen-based bioink portfolio in January 2023 by adding Collink.3D-50L, the first bioink available in powder form, which offers enhanced operational flexibility for printing soft and hard tissues. The company is also collaborating to co-develop a bioprinted human intestine model for drug discovery and personalized treatment of ulcerative colitis - In January 2023, CollPlant expanded its commercial portfolio of rhCollagen-based bioinks by adding Collink.3D-50L, the **first bioink available in powder form**, providing enhanced operational flexibility for end-users due to its mechanical properties for soft and hard tissues[50](index=50&type=chunk) - CollPlant is developing a diagnostic tool for personalized medicine, specifically a bioprinted human intestine model for drug discovery and personalized treatment of ulcerative colitis, through a collaboration agreement with Tel-Aviv University and Sheba Medical Center[22](index=22&type=chunk) - CollPlant's new bioinks expand fundamental optionality, enabling specificity and flexibility for end-users in a wide range of 3D bioprinting applications, including drug discovery, drug screening, tissue testing, and the development of transplantable tissues and organs[35](index=35&type=chunk) [First Quarter Financial Results (GAAP)](index=3&type=section&id=First%20Quarter%20Financial%20Results%20(GAAP)) CollPlant reported significant revenue growth in Q1 2023, reduced GAAP and non-GAAP net losses, and maintained a strong cash position despite increased operating cash outflow [Revenue and Cost of Revenue](index=3&type=section&id=Revenue%20and%20Cost%20of%20Revenue) CollPlant's GAAP revenues for the first quarter ended March 31, 2023, significantly increased to $433,000, primarily driven by higher sales of its rhCollagen. Correspondingly, the GAAP cost of revenue also rose to $325,000, reflecting the increased sales volume and royalties Revenue and Cost of Revenue (USD thousands) | Metric | Q1 2023 (USD thousands) | Q1 2022 (USD thousands) | Change (YoY) | | :----------------- | :---------------------- | :---------------------- | :----------- | | Revenues | 433 | 66 | +$367 (+556%) | | Cost of Revenues | 325 | 31 | +$294 (+948%) | | Gross Profit | 108 | 35 | +$73 (+209%) | - The increase in cost of revenue is mainly attributed to the rhCollagen sales and royalties to the Israel Innovation Authority[23](index=23&type=chunk) [Operating Expenses](index=3&type=section&id=Operating%20Expenses) GAAP operating expenses for Q1 2023 decreased to $3.6 million from $3.8 million in Q1 2022. On a non-GAAP basis, operating expenses also saw a reduction to $3.1 million from $3.4 million, reflecting the exclusion of certain non-cash expenses Operating Expenses (USD thousands) | Metric | Q1 2023 (USD thousands) | Q1 2022 (USD thousands) | Change (YoY) | | :------------------------- | :---------------------- | :---------------------- | :----------- | | GAAP Operating Expenses | 3,600 | 3,800 | -$200 (-5.3%) | | Non-GAAP Operating Expenses| 3,100 | 3,400 | -$300 (-8.8%) | [Net Loss and EPS](index=3&type=section&id=Net%20Loss%20and%20EPS) CollPlant reported a reduced GAAP net loss of $3.7 million, or $0.33 basic loss per share, for Q1 2023, down from $3.9 million, or $0.36 basic loss per share, in Q1 2022. The non-GAAP net loss also decreased to $3.3 million, or $0.29 basic loss per share. Financial expenses, net, increased due to higher exchange rate expenses and decreased interest income Net Loss and EPS (USD thousands) | Metric | Q1 2023 (USD thousands) | Q1 2022 (USD thousands) | Change (YoY) | | :----------------------------- | :---------------------- | :---------------------- | :----------- | | GAAP Net Loss | 3,715 | 3,860 | -$145 (-3.8%) | | GAAP Basic Net Loss per Share | 0.33 | 0.36 | -$0.03 (-8.3%) | | Non-GAAP Net Loss | 3,306 | 3,493 | -$187 (-5.4%) | | Non-GAAP Basic Net Loss per Share| 0.29 | 0.32 | -$0.03 (-9.4%) | - GAAP financial expenses, net, increased to **$196,000** in Q1 2023 from $92,000 in Q1 2022, mainly attributed to an increase in exchange rate expenses from cash and cash equivalents and a decrease in income interest received from short-term cash deposits[24](index=24&type=chunk) [Liquidity and Cash Flow](index=4&type=section&id=Liquidity%20and%20Cash%20Flow) As of March 31, 2023, cash, cash equivalents, and short-term deposits totaled $26.5 million. Cash used in operating activities slightly increased to $3.4 million. Cash used in investing activities significantly decreased to $145,000, primarily due to the absence of large short-term deposit repayments seen in Q1 2022. Cash provided by financing activities decreased to $803,000 Liquidity and Cash Flow (USD thousands) | Metric | Q1 2023 (USD thousands) | Q1 2022 (USD thousands) | Change (YoY) | | :----------------------------------- | :---------------------- | :---------------------- | :----------- | | Cash, cash equivalents & short-term deposits (as of March 31) | 26,500 | N/A | N/A | | Cash used in operating activities | (3,400) | (3,200) | -$200 (-6.3%) | | Cash used in investing activities | (145) | 29,800 | -$29,945 (-100.2%) | | Cash provided by financing activities| 803 | 1,500 | -$697 (-46.5%) | - The decrease in cash provided by investing activities is mainly attributed to the repayment of short-term cash deposits during the first quarter of 2022, which did not recur in Q1 2023[39](index=39&type=chunk) - Cash provided by financing activities is mainly attributed to proceeds from the exercise of warrants into shares[26](index=26&type=chunk) [Condensed Consolidated Financial Statements](index=5&type=section&id=Condensed%20Consolidated%20Financial%20Statements) CollPlant's Q1 2023 financial statements show a decrease in total assets and shareholders' equity, with increased revenues, reduced net loss, and changes in cash flow from investing activities [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2023, CollPlant's total assets were $35.76 million, a decrease from $37.77 million at December 31, 2022. This change was primarily driven by a reduction in cash and cash equivalents within current assets, partially offset by an increase in non-current assets. Total liabilities increased slightly, while total shareholders' equity decreased Condensed Consolidated Balance Sheets (USD thousands) | Metric (USD thousands) | March 31, 2023 (Unaudited) | December 31, 2022 (Audited) | Change | | :--------------------------------- | :------------------------- | :-------------------------- | :----- | | Cash and cash equivalents | 26,528 | 29,653 | (3,125) | | Total current assets | 29,063 | 31,658 | (2,595) | | Total non-current assets | 6,696 | 6,110 | 586 | | Total assets | 35,759 | 37,768 | (2,009) | | Total current liabilities | 2,921 | 3,105 | (184) | | Total non-current liabilities | 2,948 | 2,382 | 566 | | Total liabilities | 5,869 | 5,487 | 382 | | Total shareholders' equity | 29,890 | 32,281 | (2,391) | | Total liabilities and shareholders' equity | 35,759 | 37,768 | (2,009) | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the first quarter ended March 31, 2023, CollPlant reported revenues of $433,000 and a gross profit of $108,000. Operating expenses, including R&D and G&A, totaled $3.6 million, resulting in an operating loss of $3.5 million. The net loss for the quarter was $3.7 million, or $0.33 per basic and diluted ordinary share Condensed Consolidated Statements of Operations (USD thousands) | Metric (USD thousands) | Q1 2023 (Unaudited) | Q1 2022 (Unaudited) | | :--------------------------------- | :------------------ | :------------------ | | Revenues | 433 | 66 | | Cost of revenues | 325 | 31 | | Gross Profit | 108 | 35 | | Research and development | 2,102 | 2,242 | | General, administrative and marketing | 1,525 | 1,561 | | Total operating loss | 3,519 | 3,768 | | Financial expenses, net | 196 | 92 | | Net loss | 3,715 | 3,860 | | Basic net loss per ordinary share | 0.33 | 0.36 | | Diluted net loss per ordinary share| 0.33 | 0.36 | | Weighted average ordinary shares outstanding (basic/diluted) | 11,270,948 | 10,783,065 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2023, CollPlant's net cash used in operating activities was $3.45 million. Investing activities resulted in a net cash outflow of $145,000, a significant change from the $29.89 million provided in Q1 2022, primarily due to the absence of short-term deposit repayments. Financing activities provided $803,000, mainly from the exercise of warrants Condensed Consolidated Statements of Cash Flows (USD thousands) | Metric (USD thousands) | Q1 2023 (Unaudited) | Q1 2022 (Unaudited) | | :----------------------------------------- | :------------------ | :------------------ | | Net cash used in operating activities | (3,450) | (3,212) | | Net cash provided by (used in) investing activities | (145) | 29,885 | | Net cash provided by financing activities | 803 | 1,474 | | Increase (decrease) in cash and cash equivalents and restricted deposits | (2,792) | 28,147 | | Cash and cash equivalents and restricted deposits at end of period | 26,790 | 41,293 | [Appendices to Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Appendices%20to%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section provides supplementary information on non-cash investing and financing activities, such as obtaining right-of-use assets in exchange for lease liabilities and the capitalization of share-based compensation to inventory. It also includes a reconciliation of cash, cash equivalents, and restricted cash at the end of the period Non-Cash Investing and Financing Activities (USD thousands) | Activity (USD thousands) | Q1 2023 | Q1 2022 | | :----------------------------------------------------- | :------ | :------ | | Obtaining right of use assets in exchange for a lease liability | 788 | 24 | | Capitalization of Share-based compensation to inventory| 7 | - | Reconciliation of Cash, Cash Equivalents, and Restricted Deposits (USD thousands) | Item (USD thousands) | Q1 2023 | Q1 2022 | | :----------------------------------------------------- | :------ | :------ | | Cash and cash equivalents | 26,528 | 41,072 | | Restricted deposits (including long term) | 262 | 221 | | Total cash and cash equivalents and restricted deposits| 26,790 | 41,293 | [Reconciliation of GAAP to Non-GAAP Financial Measures](index=10&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Measures) CollPlant provides non-GAAP financial measures, excluding non-cash expenses like share-based compensation and operating lease changes, to offer a clearer view of its operational performance [Non-GAAP Financial Measures Explanation](index=11&type=section&id=Non-GAAP%20Financial%20Measures%20Explanation) CollPlant presents non-GAAP financial measures for operating costs and expenses, operating income, net loss, and basic and diluted net loss per share, which exclude non-cash expenses such as share-based compensation and changes in operating lease accounts. Management believes these non-GAAP measures provide meaningful supplemental information for evaluating the company's performance and comparing it to historical results - Non-GAAP financial measures exclude the effects of non-cash expense for share-based compensation to employees, directors and consultants, and change in operating lease accounts[15](index=15&type=chunk) - CollPlant's management believes these non-GAAP measures provide meaningful supplemental information regarding the Company's performance, enhancing the ability to evaluate operating costs, comprehensive income, and income per share, and to compare them to historical results[15](index=15&type=chunk)[16](index=16&type=chunk) [Reconciliation Table](index=10&type=section&id=Reconciliation%20Table) The reconciliation table details the adjustments made to GAAP figures to derive non-GAAP operating costs and expenses, operating loss, net loss, and basic/diluted net loss per share for the three months ended March 31, 2023, and 2022, primarily by adding back share-based compensation and adjusting for operating lease accounts Reconciliation of GAAP to Non-GAAP Financial Measures (USD thousands) | Metric (USD thousands) | Q1 2023 | Q1 2022 | | :------------------------------------------------------- | :------ | :------ | | GAAP gross profit | 108 | 35 | | GAAP operating costs and expenses | 3,627 | 3,803 | | Change of operating lease accounts (adjustment) | 21 | 94 | | Share-based compensation (adjustment) | (514) | (461) | | Non-GAAP operating costs and expenses | 3,134 | 3,436 | | GAAP operating loss | 3,519 | 3,768 | | Non-GAAP operating loss | 3,026 | 3,401 | | GAAP net loss | 3,715 | 3,860 | | Change of operating lease accounts (adjustment) | 105 | 94 | | Share-based compensation (adjustment) | (514) | (461) | | Non-GAAP net loss | 3,306 | 3,493 | | GAAP Basic net loss per ordinary share | 0.33 | 0.36 | | Non-GAAP Basic net loss per ordinary share | 0.29 | 0.32 | [About CollPlant](index=11&type=section&id=About%20CollPlant) CollPlant is a regenerative and aesthetic medicine company leveraging proprietary plant-derived recombinant human collagen for 3D bioprinting of tissues and organs, and medical aesthetics [Company Overview](index=11&type=section&id=Company%20Overview) CollPlant is a regenerative and aesthetic medicine company focused on 3D bioprinting of tissues and organs, and medical aesthetics. Its products are based on proprietary recombinant human collagen (rhCollagen) produced using plant-based genetic engineering technology, addressing diverse fields of tissue repair, aesthetics, and organ manufacturing. In 2021, CollPlant entered a development and global commercialization agreement for dermal and soft tissue fillers with Allergan, an AbbVie company - CollPlant is a regenerative and aesthetic medicine company focused on 3D bioprinting of tissues and organs, and medical aesthetics[13](index=13&type=chunk) - The Company's products are based on its rhCollagen (recombinant human collagen) produced with CollPlant's proprietary plant-based genetic engineering technology[13](index=13&type=chunk) - In 2021, CollPlant entered into a development and global commercialization agreement for dermal and soft tissue fillers with Allergan, an AbbVie company, the global leader in the dermal filler market[14](index=14&type=chunk) [Safe Harbor Statements](index=12&type=section&id=Safe%20Harbor%20Statements) This section outlines forward-looking statements regarding CollPlant's future, emphasizing inherent risks and uncertainties that could cause actual results to differ materially [Forward-Looking Statements and Risks](index=12&type=section&id=Forward-Looking%20Statements%20and%20Risks) This section contains forward-looking statements regarding CollPlant's future objectives, plans, and strategies, which are not guarantees of future performance and are subject to significant risks and uncertainties. These risks include the company's history of losses, need for additional capital, ability to achieve favorable clinical trial results, regulatory approvals, commercial success, intellectual property protection, economic conditions, and competition, which could cause actual results to differ materially - Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially[1](index=1&type=chunk)[10](index=10&type=chunk) - Many factors could cause actual results to differ, including the Company's history of significant losses, need to raise additional capital, ability to obtain favorable pre-clinical and clinical trial results, regulatory action, commercial success and market acceptance, ability to establish partnerships, reliance on third parties for manufacturing, intellectual property protection, unfavorable economic conditions, and competition[1](index=1&type=chunk) - CollPlant does not undertake and specifically disclaims any obligation to update or revise any forward-looking statements[1](index=1&type=chunk) [Contacts & Conference Call Information](index=1&type=section&id=Contacts%20%26%20Conference%20Call%20Information) This section provides details for CollPlant's Q1 2023 financial results conference call and contact information for company and investor relations inquiries [Conference Call Details](index=1&type=section&id=Conference%20Call%20Details) CollPlant held a conference call on May 24, 2023, at 10:00 am U.S. ET to discuss its first quarter 2023 financial results and provide corporate updates. Dial-in information was provided for U.S., international, and Israel investors, with an option to submit questions to management in advance - A conference call to discuss first quarter 2023 financial results and corporate updates was held on **May 24, 2023, at 10:00 am U.S. ET**[17](index=17&type=chunk)[40](index=40&type=chunk) - Dial-in information was provided for U.S. investors (1-877-407-9716), investors outside of the U.S. (1-201-493-6779), and Israel investors (1-809-406-247), with Conference ID: 13737936[27](index=27&type=chunk)[55](index=55&type=chunk) - Investors could submit questions to management in advance of the call via email[40](index=40&type=chunk)[55](index=55&type=chunk) [Company Contacts](index=12&type=section&id=Company%20Contacts) Contact information for CollPlant's Deputy CEO & CFO, Eran Rotem, and Investor Relations through LifeSci Advisors, John Mullaly, is provided for inquiries - Contact for CollPlant: Eran Rotem, Deputy CEO & CFO, Tel: +972-73-2325600, Eran@collplant.com[11](index=11&type=chunk) - Contact for Investors: LifeSci Advisors, John Mullaly, jmullaly@lifesciadvisors.com[11](index=11&type=chunk)

CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) Q4 2022 Earnings Conference Call March 29, 2023 10:00 AM ET Company Participants Dory Kurowski - LifeSci Advisors Yehiel Tal - Chief Executive Officer Eran Rotem - Chief Financial Officer Conference Call Participants Ben Haynor - Alliance Global Partners Swayampakula Ramakanth - H.C. Wainwright Operator Welcome to the CollPlant Biotechnologies investor conference call to discuss financial results for the full-year 2022 and corporate updates. A question-and-answer ...

Exhibit 99.1 Collplant Biotechnologies Announces Full-Year Financial Results For 2022 and Provides Corporate Update ● Continued advancement of strategic collaboration with AbbVie to develop dermal and soft tissue filler products using CollPlant's recombinant human (rh)Collagen ● Additional large-animal study planned in H2 2023 to further 3D bioprinted regenerative breast implant program ● Conference call to be held on March 29, 2023 at 10:00 am U.S. ET; Dial-in information herein Rehovot, Israel, March 29, ...

● attract and retain skilled personnel; ● create additional infrastructure to support our operations as a public company; and ● experience any delays or encounter issues with any of the above. The net losses we incur may fluctuate significantly from quarter to quarter and year to year, such that a period-to-period comparison of our results of operations may not be a good indication of our future performance. In any particular quarter or quarters, our operating results could be below the expectations of secu ...

Exhibit 99.1 CollPlant Biotechnologies Provides Business Updates and Third Quarter 2022 Financial Results ● Partnership with AbbVie to co-develop rhCollagen-based dermal and soft tissue fillers continues to advance according to plan ● Co-developing 3D bioprinted human intestine model ("Gut-on-a-Chip") for drug discovery and personalized treatment of ulcerative colitis with Tel-Aviv University and SHEBA Hospital ● 3D bioprinted regenerative breast implant program on track for Q1 2023 readout of large animal ...

Exhibit 99.2 COLLPLANT BIOTECHNOLOGIES LTD. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) AS OF JUNE 30, 2022 COLLPLANT BIOTECHNOLOGIES LTD. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) AS OF JUNE 30, 2022 TABLE OF CONTENTS | --- | --- | |-----------------------------------------------------------------------------------|----------------| | CONDENSED CONSOLIDATED FINANCIAL STATEMENTS: | Page | | Condensed Consolidated Balance Sheets | F-2 - F-3 | | Condensed Consolidated Statements of C ...

Exhibit 99.1 CollPlant Biotechnologies Provides Business Updates and Fiscal Year 2021 Financial Results ● Record revenues in 2021 of $15.6 million versus $6.1 million in 2020 ● Continued progress of strategic agreement with AbbVie to develop dermal and soft tissue filler products using CollPlant's rhCollagen ● Company to advance 3D bioprinted regenerative breast implant program with launch of large animal study expected in Q2 ● Strong balance sheet with $43.3 million cash position, as of December 31, 2021 R ...