Celularity Inc. - $CELU STOCK NEWS

Celularity Inc. (Nasdaq: CELU) announces the acceptance of its abstract for a poster presentation at the 12th World Biomaterials Congress, focusing on the potential uses of Celularity biomaterials in regenerative medicine applications. The study investigates the use of tri-layer decellularized, dehydrated human amniotic membrane technology as a carrier for induced pluripotent stem cell derived-limbal stem cells for the treatment of limbal stem cell deficiency (LSCD). This research highlights Celularity's commitment to developing advanced biomaterial products and allogeneic cell therapies to address ocular surface disorders and degenerative diseases.

Celularity Inc. (CELU) expects triple-digit percentage increases in combined net sales of its advanced biomaterial product and biobanking businesses for the first quarter 2024 and the full year 2024, compared to the same periods in 2023. The company anticipates a significant growth trajectory, driven by the commercial pipeline of advanced biomaterial products and a development pipeline that includes two product candidates. For the first quarter 2024, Celularity expects combined net sales in the range of $10.25 million to $11.5 million, with net sales percentage growth for its advanced biomaterial product business projected to be in the range of 249% to 287% compared to the first quarter 2023. For the full year 2024, the company expects net sales percentage growth of its advanced biomaterial product business to be in the range of 165% to 194% compared to full year 2023. The company's Chairman and CEO, Robert J. Hariri, emphasized the significant growth in sales of advanced biomaterial products in the fourth quarter of 2023 and expressed optimism about Celularity's unique technology platform and its potential to become a cashflow positive enterprise.

Celularity Inc. announced the closing of two financing transactions totaling $21 million in gross proceeds, including a $6 million private placement with its largest investor, Dragasac Limited, and a $15 million amended and restated senior secured loan agreement with an existing lender, Resorts World Inc Pte Ltd. The funding will be used to strengthen the company's balance sheet and for other purposes, including repaying all outstanding amounts owed to Yorkville under a pre-paid advance agreement. The company aims to focus on growing its operating revenue and capitalizing on opportunities in the United States and Asia.

Celularity Inc. (Nasdaq: CELU) has announced its net sales expectations for the fourth quarter of 2023 and the full year of 2023. The company expects significant net sales percentage growth in the range of 176.1% to 193.0% for the fourth quarter of 2023 compared to the same period in 2022. For the full year of 2023, Celularity anticipates net sales percentage growth in the range of 22.7% to 26.6% compared to the full year of 2022. The company also revealed plans to announce net sales expectations for the first quarter of 2024 and the full year of 2024, with a focus on maintaining and building sales momentum, advancing novel product candidates, and expanding opportunistically outside their core wound care and surgical applications. Celularity also closed two separate financing transactions, receiving combined total gross proceeds of $21 million. Additionally, the company is deeply engaged in a multi-year Research Collaboration Services Agreement in cell therapy with Regeneron Pharmaceuticals, Inc., focusing on research and development of allogeneic cell therapy candidates designed to target aging processes and degenerative disorders.

Celularity Inc. (Nasdaq: CELU) has entered into an exclusive U.S. strategic commercialization agreement with BioCellgraft, Inc. for the manufacture and distribution of advanced biomaterial products for therapeutic use in oral healthcare applications. The agreement aims to tap into the large and growing markets of periodontology, implant dentistry, and oral surgery in the United States.

Celularity Inc. (CELU) expects net sales of its biomaterial products and biobanking businesses to be in the range of $11.4 million to $12.1 million for the fourth quarter 2023 and $22.06 million to $22.76 million for the full year 2023. The expected growth reflects triple-digit increases compared to the previous year. The company also announced a multi-year research collaboration services agreement with Regeneron.

Celularity Inc. (CELU) received notification from Nasdaq that it is not in compliance with continued listing requirements due to the failure to timely file a Form 10-Q for Q3 2023. The company has until January 22, 2024, to submit a plan to regain compliance and until May 20, 2024, to implement the plan. Celularity is also not in compliance with Nasdaq's minimum bid price requirement and has until March 11, 2024, to regain compliance, potentially through a reverse stock split.

Celularity's Halal Certified biomaterial products receive classification by SFDA for importation into Saudi Arabia

Celularity appoints Dr. Geoffrey Shiu Fei Ling to its Board of Directors, bringing expertise in regenerative medicine and stem cell therapy. Dr. Ling's outside perspective and deep understanding of cell-based treatments will help unlock the potential of placental-derived cells and tissues. Andrew von Eschenbach, M.D., steps down from the Board of Directors.