Financial Performance - Total revenues for the six months ended June 30, 2024, were 347million,comparedto249 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,comparedto10,617,000 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,downfrom184,000 in the same period of 2023[89]. - Revenues from milestones for the six months ended June 2024 were 30,000,consistentwiththepreviousyear[89].−TotalrevenuesforthethreemonthsendedJune2024were249,000, compared to 10,184,000forthesameperiodin2023,showingasubstantialdecline[89].NetLossandEarnings−Thenetlossfortheperiodwas8,405 million, compared to a net income of 2,047millionforthesameperiodin2023[36].−BasicnetlossperordinaryshareforthesixmonthsendedJune30,2024,was(0.73), compared to a profit of 0.18pershareforthesameperiodin2023[36].−AsofJune30,2024,thecompanyreportedanetlossof8,405,000, with an accumulated deficit of 105,146,000[69].−ThebasicnetlosspershareforthesixmonthsendedJune30,2024,was(0.73), compared to a net income per share of 0.18forthesameperiodin2023[73].AssetsandLiabilities−Currentassetsdecreasedto20,335,000 as of June 30, 2024, from 28,022,000asofDecember31,2023,reflectingadeclineofapproximately27.626,566,000 as of June 30, 2024, from 34,126,000asofDecember31,2023,indicatingareductionofapproximately22.25,837 million, slightly up from 5,786millionasofDecember31,2023[35].−Totalshareholders′equitydecreasedto20,729 million as of June 30, 2024, from 28,340millionasofDecember31,2023,indicatingadeclineof26.818,920 million, down from 22,366millionattheendofthesameperiodin2023,adecreaseof15.818,920,000, providing sufficient funds to support operations for more than 12 months[69]. - The company incurred negative cash flows from operating activities amounting to 7,181,000forthesixmonthsendedJune30,2024[69].−Thecompanyanticipatesfuturenetlossesandwillneedtoraiseadditionalcashtosupportitsoperationsuntilprofitabilityisachieved[51].ResearchandDevelopment−Researchanddevelopmentexpensesincreasedto5,103 million for the six months ended June 30, 2024, from 4,676millioninthesameperiodof2023,reflectinganincreaseof9.1410,000, compared to 307,000forthesameperiodin2023[86].StockOptionsandCompensation−DuringthesixmonthsendedJune30,2024,thecompanygrantedoptionstotaling41,500,withaweightedaverageexercisepriceof5.34[19]. - The fair value of options granted during the six months ended June 30, 2024, was 169,000,comparedto505,000 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].−Thetotalincrementalfairvalueofoptionsgrantedtoemployeeswas197,000, based on the Black-Scholes pricing model[76]. - As of June 30, 2024, there was 2,213,000ofunrecognizedcompensationexpenserelatedtounvestedRSUsandoptions,expectedtoberecognizedoveraweighted−averageperiodof1.9years[86].−Thecompanygranted261,000restrictedshareunits(RSUs)withaweightedaveragegrantdatefairvalueof5.13 during the six months ended June 30, 2024[77]. Inventory Management - As of June 30, 2024, total inventories decreased to 439,000from714,000 as of December 31, 2023, representing a decline of approximately 38.5%[2]. - The company recorded approximately 268,000forwrite−downofinventoriesundercostofrevenuesduringthesixmonthsendedJune30,2024[28].BusinessDevelopment−ThecompanyachievedamilestoneinJune2023relatedtotheclinicalphasedermalfillerproduct,resultingina10,000 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].
