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GAITHERSBURG, Md. - Elutia Inc. (NASDAQ:ELUT), a small-cap biotech company with a market capitalization of $85.5 million, reported a 49% sequential increase in second quarter revenue for its EluPro antibiotic bioenvelope product, according to a press release statement issued Thursday. The company’s stock has shown strong momentum, gaining over 9% in the past week, according to InvestingPro data.
The company’s total BioEnvelope revenue reached $3.5 million in the second quarter of 2025, representing a 33% increase compared to the same period last year. EluPro, which launched in January 2025, now accounts for approximately two-thirds of the company’s total BioEnvelope sales. InvestingPro analysis indicates the company is targeting 18% revenue growth for fiscal year 2025, though it faces challenges with cash burn and short-term obligations exceeding liquid assets.
Elutia reported that EluPro has secured value analysis committee approvals at more than 160 medical centers, with an average of 12 new approvals monthly. The company noted that average sales per EluPro customer were 130% higher than for its legacy CanGaroo customers.
Overall net sales for the quarter ended June 30 were $6.3 million, approximately the same as Q2 2024. Gross margin on a GAAP basis improved to 48.8% from 44.5% in the prior year period.
The company reported a net loss of $9.6 million for the quarter, compared to a $28.2 million loss in the same period last year. Cash balance as of June 30, 2025, stood at $8.5 million.
Elutia also reported progress on its next-generation drug-eluting biomatrix pipeline, including the NXT-41 platform for breast reconstruction. The company is targeting FDA clearance of the base matrix in the second half of 2026 and the drug-eluting version in the first half of 2027.
The company has also made progress in resolving legacy litigation, settling an additional 27 cases related to its FiberCel product, bringing total settlements to 97 of 110 cases.
Elutia develops and commercializes drug-eluting biomatrix products designed to improve compatibility between medical devices and patients. While analysts maintain a strong buy consensus with price targets between $7 and $8 per share, investors should note that the company is not expected to achieve profitability this year, according to InvestingPro analysis, which offers 7 additional key insights about the company’s prospects.
In other recent news, Cantor Fitzgerald analysts have reaffirmed an Overweight rating for Elutia, maintaining a price target of $7.00. This decision comes after Elutia announced the publication of a peer-reviewed article in Dissolution Technologies. The article introduces a validated method for measuring antibiotic release from a biologic envelope. This new method replicates in vitro elution in 30 hours and is anticipated to aid in the development of Elutia’s EluPro portfolio. The approach offers a faster and more cost-effective solution for the company. These developments reflect ongoing efforts by Elutia to enhance its product offerings.
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