CollPlant(US:CLGN) Prnewswire·2024-08-20 11:00Core Viewpoint - CollPlant Biotechnologies has initiated a pre-clinical trial for its 200cc rhCollagen-based regenerative breast implants, targeting a $3.0 billion market opportunity, while reporting significant financial results for Q2 2024 [1][2][7]. Company Developments - The company has launched a pre-clinical trial for its 200cc breast implants printed with Stratasys' Origin® 3D printer, marking a significant milestone as there are currently no other commercial products for soft tissue regeneration like these implants [2][3]. - CollPlant has released its first ESG and Sustainability report, outlining its commitment to sustainability and health improvement through innovative collagen technology [2][5][6]. Financial Performance - For Q2 2024, GAAP revenues were $249,000, a decrease from $10.2 million in Q2 2023, primarily due to a milestone payment received from AbbVie in 2023 [7][8]. - The company reported a GAAP net loss of $4.2 million for Q2 2024, compared to a net income of $5.8 million in Q2 2023 [16]. - Cash and cash equivalents as of June 30, 2024, were $18.9 million, providing a runway for operations until at least the end of 2025 [18]. Research and Development - CollPlant has made notable progress in its regenerative breast implant program, with encouraging pre-clinical results related to tissue regeneration and vascularization [2][4]. - The collaboration with Stratasys focuses on developing a bioprinting solution for the breast implants and scaling up the fabrication process [3]. ESG and Sustainability Initiatives - The inaugural ESG report details initiatives for enhancing plant-based production, reducing emissions, and delivering safe medical solutions, reflecting the company's commitment to sustainability [5][6].