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REHOVOT, Israel - CollPlant Biotechnologies (NASDAQ:CLGN), a biotechnology company with a current market capitalization of $29 million, has been granted a new patent by the European Patent and Trademark Office for its recombinant human collagen (rhCollagen)-based products, including injectable soft tissue fillers and regenerative breast implants. The patent, which extends until 2041, supports the company’s strategy to lead in the aesthetic and reconstructive markets. According to InvestingPro analysis, the company appears undervalued based on its Fair Value assessment.
The patent covers a 3D biocompatible and degradable soft tissue implant, which combines a bioprinted scaffold with an injectable filler, both derived from CollPlant’s rhCollagen. CEO Yehiel Tal noted the significance of this intellectual property in strengthening the company’s competitive edge, especially given the substantial market sizes—over $6 billion for injectable fillers and over $3 billion for breast implants. While the company maintains a strong current ratio of 4.48 and holds more cash than debt, InvestingPro data indicates rapid cash burn remains a key consideration for investors.
CollPlant’s developments include a photocurable regenerative dermal filler intended to lift, sculpt, and promote tissue regeneration, and next-generation breast implants designed for natural tissue regeneration without immune response complications. These innovations target unmet needs for safer, regenerative solutions in procedures such as postmastectomy reconstructions.
The company’s rhCollagen products address diverse tissue repair, aesthetics, and organ manufacturing fields. In 2021, CollPlant entered a development and commercialization agreement with Allergan, an AbbVie company, further solidifying its position in the dermal filler market.
This announcement is based on a press release statement and contains forward-looking statements about CollPlant’s plans and potential market opportunities. These statements are subject to various risks and uncertainties that could affect the company’s future performance.
In other recent news, CollPlant Biotechnologies reported its Q4 2024 earnings, revealing a challenging quarter with earnings per share of -$0.34, which missed the forecasted -$0.275. Revenue for the quarter also fell short, coming in at $164,000 compared to the expected $432,000. The company faced a net loss of $3.9 million for the quarter, with full-year revenue decreasing significantly to $515,000 from $11 million in 2023. Despite these setbacks, CollPlant announced a $3.6 million stock offering, aiming to bolster its financial position and support ongoing initiatives. The company plans to use the proceeds for general corporate purposes, including furthering its partnership with AbbVie on a dermal filler product. Recently, CollPlant received a $2 million payment from AbbVie, indicating positive progress in their collaboration. Additionally, the company is expanding its distribution channels for the Virgenix STR product in Europe and Asia. These developments reflect CollPlant’s continued focus on expanding its market presence and product offerings despite current financial challenges.
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