| Wednesday | ||||
Reports Q1 revenue… Reports Q1 revenue $433,000, consensus $240,000. Cash, cash equivalents and short-term deposits as of March 31 were $26.5M. "Recently, we announced a collaborative agreement with Stratasys, a world-leader in 3D printing as well as completed the first large-animal study for our 3D bioprinted regenerative breast implants," said CollPlant's CEO, Yehiel Tal. "The agreement with Stratasys allows us to utilize their proprietary 3D printer technology and combine this with our state-of-the-art rhCollagen-based bioinks to enable high-resolution, scalable, and reproduceable bioprinting of scaffolds that accurately mimic the physical properties of human tissues and organs. The combined proprietary technologies will allow for 3D tissue and organ fabrication that also possess differentiated, regenerative properties." | ||||
| Over a month ago | ||||
Stratasys (SSYS) and… Stratasys (SSYS) and CollPlant Biotechnologies (CLGN) announced a joint development and commercialization agreement to collaborate on the development of a solution to bio-fabricate human tissues and organs using Stratasys' P3 technology-based bioprinter and CollPlant's rh-Collagen-based bioinks. The first project focuses on the development of an industrial-scale solution for CollPlant's regenerative breast implants program. Stratasys is a leader in polymer 3D printing solutions. CollPlant is a pioneering regenerative and aesthetics medicine company developing innovative technologies and products based on its plant-based collagen for tissue regeneration and organ manufacturing.The new bioprinter, based on Stratasys' precise P3 3D printing technology in combination with CollPlant's flagship bioinks, will enable the production of CollPlant's state of the art breast implants, which are being designed to regenerate an individual's natural breast tissue without eliciting immune response, providing a potentially revolutionary alternative for both aesthetic and reconstructive procedures. Currently the global breast implant market is estimated to be $2.6B, while breast reconstruction and augmentation procedures represent the second most common plastic surgery procedure performed worldwide today. The most common breast augmentation or reconstruction procedures today are based on synthetic silicone breast implantations, an artificial substitution for natural regenerated tissue with risks of complications. Under the agreement, both companies have agreed to cross-promote each other's bioprinting products. Stratasys' bioprinter will be offered to customers together with CollPlant's bioinks, and similarly Stratasys' bioprinter will be offered to CollPlant's business partners and customers. "Through this partnership with CollPlant, we have an important opportunity to transform healthcare with bioprinting to improve the lives of patients undergoing breast augmentation or reconstruction procedures," said Stratasys CEO Dr. Yoav Zeif. "This agreement is well-aligned with our strategy to deliver complete solutions for high-growth industry applications with our ecosystem of partners, and the production scale and precision 3D printing capabilities of Stratasys' P3 Programmable Photopolymerization technology are a particularly strong fit for bioprinting applications. We believe that partnering with CollPlant will enable us to accelerate the industrialization of bioprinting for regenerative medicine, and we look forward to collaborating towards the successful commercialization of CollPlant's novel regenerative breast implants and beyond." | ||||
H.C. Wainwright analyst… H.C. Wainwright analyst Swayampakula Ramakanth lowered the firm's price target on CollPlant to $11 from $26 and keeps a Buy rating on the shares following the Q4 results. At the end of Q4, CollPlant had approximately $30M in cash and cash equivalents, which is sufficient to fund operations into the "foreseeable future," the analyst tells investors in a research note. | ||||
| Over a quarter ago | ||||
Alliance Global Partners… Alliance Global Partners analyst Ben Haynor initiated coverage of CollPlant (CLGN) with a Buy rating and $22.75 price target. CollPlant's proprietary method of producing type I human collagen utilizing genetically engineered tobacco plants "appears to be the only viable method of producing commercial qualities of high-quality rhCollagen cost effectively," and rhCollagen has significant applications in aesthetic and regenerative medicine, the analyst said. The firm views the company's rhCollagen and its production approach as validated by numerous signed collaboration and partnership agreements, including one with AbbVie (ABBV). | ||||
CollPlant announced that… CollPlant announced that it has successfully completed a large animal study for its recombinant human collagen-based 3D bioprinted regenerative breast implants, addressing the $2.5B global breast implant market. Supported by these promising results, the company is planning to initiate a follow-up large animal study during 2023 using commercial-size implants to support subsequent human studies and future product commercialization. The study demonstrated progressive stages of tissue regeneration as highlighted by the formation of maturing connective tissue and neovascular networks within the implants. No indication of adverse reaction was noted. Promising results support continued development of rhCollagen-based regenerative breast implants as a revolutionary and potentially safer and more natural alternative for aesthetic and reconstructive procedures, including postmastectomy for cancer patients. | ||||
Meeting to be held in… Meeting to be held in Minneapolis on October 18 hosted by Craig-Hallum. | ||||
Meeting to be held in… Meeting to be held in Minneapolis on October 18 hosted by Craig-Hallum. | ||||
