The following is a summary of the CollPlant Biotechnologies Ltd. (CLGN) Q4 2023 Earnings Call Transcript:

Financial Performance:

• CollPlant reported Q4 2023 revenues of $299,000, an increase from $58,000 in Q4 2022, primarily from collagen product sales.

• Full year 2023 revenues were $11 million, with a substantial contribution from their business partner AbbVie which included a $10 million milestone payment.

• Fourth quarter cost of revenues was $773,000 compared to $62,000 in Q4 2022, and the full year cost of revenues for 2023 stood at $2 million, up from $400,000 in 2022.

• CollPlant recorded a GAAP net loss for Q4 2023 of $4.7 million or $0.41 per share, compared to a net loss of $4.4 million or $0.39 per share for Q4 2022, and a full-year net loss for 2023 was $7 million or $0.62 per share as against $16.7 million or $1.53 per share in 2022.

• The company reported cash and cash equivalents of $26.7 million as of December 31, 2023, sufficient for operational requirements until the end of 2025.

Business Progress:

• CollPlant advanced their dermal filler product candidate towards commercialization with AbbVie. This product is currently in its clinical phase of development.

• A U.S. patent approval related to photocurable dermal filler product strengthens their foothold in the aesthetics market.

• They are also working on a regenerative breast implants product which is in preclinical development and have done large animal studies to optimize design and composition.

• The company also initiated a joint development and collaboration agreement with Stratasys for the bioprinting of CollPlant's breast implants.

• CollPlant's governance initiatives include joining the United Nations Global Compact and plans to reveal an ESG report for 2023 in Q2 2024.

• Future plans include continuation and expansion of collaborations, additional large animal studies for commercial-sized breast implants, and ongoing development of regenerative aesthetic medicine applications leveraging their proprietary rhCollagen and bioink technologies.

More details: Collplant IR

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