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Investing.com -- Collplant Biotechnologies Ltd (NASDAQ:CLGN) stock plunged 22.6% following the company’s announcement of plans to advance its photocurable dermal filler into clinical trials despite reporting positive non-clinical results.
The regenerative and aesthetic medicine company revealed that its novel dermal filler, which combines hyaluronic acid with modified recombinant human collagen (rhCollagen), successfully completed a comprehensive non-clinical program. The product is designed to provide both immediate contouring and long-term tissue regeneration benefits.
"The successful completion of our extensive non-clinical program marks an important milestone for CollPlant allowing us to enter clinical development of our photocurable regenerative filler," said Yehiel Tal, Chief Executive Officer of CollPlant.
The company’s non-clinical program included a one-year in vivo study confirming long-term durability and biocompatibility assessments that demonstrated compliance with relevant international standards. CollPlant is now focusing on scaling and optimizing its manufacturing process to prepare for upcoming clinical trials.
The innovative dermal filler is administered as a viscoelastic gel through a fine needle, allowing physicians to create precise contours that are then stabilized using the company’s proprietary illumination device. Upon light activation, the gel transforms into a semi-solid implant designed to maintain shape while resisting gravitational and mechanical forces.
Despite the positive developments announced by the company, investors responded negatively to the news, sending the stock sharply lower.
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