Core Insights - Elutia Inc. reported a significant revenue increase for its EluPro product, with a 49% sequential growth in Q2 2025 and a 33% year-over-year increase in total BioEnvelope sales, reaching $3.5 million [2][5][6] - The company is advancing its next-generation drug-eluting biomatrix, NXT-41, targeting a $1.5 billion market for breast reconstruction, with initial product launch planned for the second half of 2026 [2][4] Business Highlights - EluPro has become the preferred choice in cardiac implantable electronic device procedures, expanding into over 160 VAC-approved hospitals and growing its customer base more than 15 times since launch [4][6] - The average sales per EluPro customer were 130% higher than those for the legacy CanGaroo platform, indicating stronger market penetration [6] - Elutia has received two awards for innovation and product launches, and has published five peer-reviewed articles on EluPro, showcasing its scientific leadership [6] Financial Performance - For Q2 2025, Elutia's overall net sales were $6.3 million, nearly unchanged from Q2 2024, with a gross margin of 48.8%, up from 44.5% [9][15] - The company reported a net loss of $9.6 million for Q2 2025, a significant improvement compared to a net loss of $28.2 million in the same period of the previous year [9][15] - Adjusted EBITDA for Q2 2025 was a loss of $3.8 million, compared to a loss of $2.6 million in Q2 2024 [9][18] Market Access and Growth Strategy - Elutia's distribution strategy includes a partnership with Boston Scientific and a focus on expanding access through national GPO contracts and VAC approvals [2][4] - The company regained direct control of its cardiovascular product sales, generating $736K in revenue in the first partial quarter of direct sales [6] Litigation and Financial Position - Elutia has resolved 97 out of 110 cases related to FiberCel litigation, significantly reducing expected litigation expenses [6] - As of June 30, 2025, the company had a cash balance of $8.5 million, down from $13.2 million a year earlier [9][13]

GAITHERSBURG, Md., July 31, 2025 (GLOBE NEWSWIRE) -- Elutia Inc. (Nasdaq: ELUT) ("Elutia" or the "Company"), a pioneer in drug-eluting biomatrix technologies, today announced that Dr. Michelle LeRoux Williams, Chief Scientific Officer, has been awarded the Medical Device Innovator Award by the Washington Business Journal. This award recognizes Dr. Williams' groundbreaking contributions to the medical device industry, particularly her leadership in the development and successful commercialization of EluPro™, ...

Core Insights - Elutia Inc. reported strong first-quarter results for 2025, highlighting the successful launch and adoption of its EluPro™ product, which has established itself as a significant solution for cardiac implantable electronic device (CIED) procedures [1][4]. Business Highlights - EluPro experienced an 84% sequential sales increase, contributing to a 31% year-over-year growth in BioEnvelope revenue, totaling $3.1 million, with EluPro accounting for approximately 52% of BioEnvelope sales [4][5]. - The partnership with Boston Scientific is expected to enhance the adoption of EluPro, with over 900 sales professionals involved and initial training completed, leading to sales generation in over 50 hospitals [3][4]. - EluPro's marketing efforts include a prominent presence at the Heart Rhythm Society 2025 and a new national campaign aimed at increasing awareness [4]. - EluPro received a 2025 Edison Award for innovation, and new peer-reviewed data has validated its antibacterial efficacy [4]. Financial Performance - Total net sales decreased by 10% to $6.0 million compared to $6.7 million in Q1 2024, with BioEnvelope products showing a 31% increase [5][9]. - Gross margin on a GAAP basis was 40.7%, down from 42.5%, while adjusted gross margin was 54.8%, slightly down from 55.2% [9][17]. - The company reported a loss from operations of $7.9 million, an improvement from a loss of $8.5 million in the previous year [9][16]. Strategic Developments - Elutia regained full commercial rights to its ProxiCor™, Tyke™, and VasCure™ products, which are now sold through a contractor-based model expected to enhance cash flow [4]. - The company raised $15 million through a registered direct offering and amended loan terms to improve financial flexibility [4].

Core Insights - Elutia Inc. is reclaiming U.S. sales and distribution responsibilities for its cardiovascular portfolio, which includes ProxiCor®, VasCure®, and Tyke®, after ending its distribution agreement with LeMaitre Vascular, Inc. This strategic move is expected to enhance top-line revenue and improve gross margins and profitability for this product segment [1][4] Company Developments - Dwayne Montgomery has been appointed as Head of Cardiovascular to lead the newly established business unit, bringing extensive experience from previous roles at Osiris Therapeutics, Smith & Nephew, Guidant, and C.R. Bard [2] - Under Montgomery's leadership, Elutia has assembled a team of 26 independent sales representatives dedicated to the cardiovascular line, allowing for focused operations separate from the EluPro™ commercial organization [3] Financial Expectations - The cardiovascular portfolio is projected to deliver approximately 80% gross margins and maintain a premium price position in the market. In 2024, sales from cardiovascular products accounted for $2.9 million, representing about 12% of total revenue [4]

Core Insights - Elutia Inc. has developed EluPro™, the first FDA-cleared antibiotic-eluting bioenvelope, which has won a 2025 Bronze Edison Award for its innovative approach to reducing post-surgical complications [1][2] - EluPro™ is designed for use with major cardiac implanted electronic devices (CIEDs) and neurostimulation devices, addressing complications such as infection and skin erosion, which occur in 5-7% of cases [2] Company Overview - Elutia focuses on drug-eluting biomatrix technologies to enhance compatibility between medical devices and patients, aiming to humanize medicine [4] - The company launched EluPro™ in January 2025, targeting a market with over 600,000 CIEDs implanted annually in the U.S. [2] Industry Context - The Edison Awards recognize excellence in innovation, with the 2025 awards highlighting significant advancements in product and service development [5] - The need for improved outcomes in post-surgical recovery solutions is underscored by the prevalence of complications associated with CIEDs [2]