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COLLPLANT BIOTECHNOLOGIES REPORTS 2025 SECOND QUARTER FINANCIAL RESULTS AND PROVIDES CORPORATE UPDATE

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CollPlant Biotechnologies (NASDAQ:CLGN) reported Q2 2025 financial results and provided updates on its key programs. The company recorded revenues of $179,000 in Q2 2025, down from $249,000 in Q2 2024, with a net loss of $3.3 million. For the first half of 2025, revenues reached $2.2 million, primarily due to a $2 million milestone payment from AbbVie.

Key developments include advancing its photocurable dermal filler program toward clinical stage, progress in regenerative breast implants development with successful 3D bioprinting of 200cc commercial-size implants, and expansion of Vergenix™ STR distribution into new markets. The company strengthened its financial position through a $3.6 million registered direct offering and ended Q2 with $11.4 million in cash.

CollPlant also appointed Bowman Bagley as VP of Commercial North America and expanded its agreement with STEMCELL Technologies for broader use of its rhCollagen technology.

CollPlant Biotechnologies (NASDAQ:CLGN) ha comunicato i risultati finanziari del secondo trimestre 2025 e aggiornamenti sui programmi principali. I ricavi del Q2 2025 sono stati di $179.000, in calo rispetto ai $249.000 del Q2 2024, con una perdita netta di $3,3 milioni. Nel primo semestre 2025 i ricavi hanno raggiunto $2,2 milioni, trainati principalmente da un pagamento milestone di $2 milioni da parte di AbbVie.

Tra i progressi rilevanti, l'azienda ha portato avanti il programma di filler dermico fotopolimerizzabile verso la fase clinica, ha fatto passi in avanti nello sviluppo di impianti mammari rigenerativi con la stampa 3D di impianti commerciali da 200 cc e ha ampliato la distribuzione di Vergenix™ STR in nuovi mercati. La posizione finanziaria è stata rafforzata da un'offerta diretta registrata di $3,6 milioni e al termine del Q2 la liquidità disponibile era di $11,4 milioni.

CollPlant ha inoltre nominato Bowman Bagley vicepresidente commerciale per il Nord America e ha esteso l'accordo con STEMCELL Technologies per un utilizzo più ampio della sua tecnologia rhCollagen.

CollPlant Biotechnologies (NASDAQ:CLGN) informó sus resultados financieros del segundo trimestre de 2025 y actualizaciones sobre sus programas clave. Los ingresos del Q2 2025 fueron de $179,000, por debajo de los $249,000 del Q2 2024, con una pérdida neta de $3.3 millones. En la primera mitad de 2025 los ingresos alcanzaron $2.2 millones, impulsados principalmente por un pago por hitos de $2 millones de AbbVie.

Entre los avances, la compañía ha avanzado su programa de relleno dérmico foto-curable hacia la fase clínica, progresó en el desarrollo de implantes mamarios regenerativos con la bioimpresión 3D de implantes comerciales de 200 cc, y amplió la distribución de Vergenix™ STR a nuevos mercados. La posición financiera se fortaleció mediante una oferta directa registrada de $3.6 millones y cerró el Q2 con $11.4 millones en efectivo.

CollPlant también nombró a Bowman Bagley vicepresidente comercial para Norteamérica y amplió su acuerdo con STEMCELL Technologies para un uso más amplio de su tecnología rhCollagen.

CollPlant Biotechnologies (NASDAQ:CLGN)는 2025년 2분기 재무 실적과 주요 프로그램 업데이트를 발표했습니다. 2025년 2분기 매출은 $179,000로 2024년 2분기의 $249,000보다 감소했으며 순손실은 $330만을 기록했습니다. 2025년 상반기 매출은 주로 AbbVie로부터 받은 $200만의 마일스톤 지급 덕분에 $220만에 달했습니다.

주요 성과로는 광경화성 피부 필러 프로그램을 임상 단계로 진전시킨 점, 200cc 상업용 사이즈의 유방 재생 임플란트를 3D 바이프린팅에 성공한 점, Vergenix™ STR의 유통을 신규 시장으로 확대한 점이 있습니다. 재무 여건은 $360만 규모의 등록 직접 공모로 강화되었고 2분기 말 현금은 $1140만이었습니다.

또한 CollPlant은 Bowman Bagley를 북미 상업 담당 부사장으로 임명했으며, rhCollagen 기술의 보다 광범위한 사용을 위해 STEMCELL Technologies와의 협약을 확대했습니다.

CollPlant Biotechnologies (NASDAQ:CLGN) a annoncé ses résultats financiers du deuxième trimestre 2025 et des mises à jour sur ses principaux programmes. Les revenus du T2 2025 se sont élevés à 179 000 $, en baisse par rapport à 249 000 $ au T2 2024, avec une perte nette de 3,3 millions $. Sur le premier semestre 2025, les revenus ont atteint 2,2 millions $, principalement grâce à un paiement d'étape de 2 millions $ de la part d'AbbVie.

Parmi les avancées, la société a fait progresser son programme de comblement dermique photopolymérisable vers la phase clinique, a réalisé des progrès dans le développement d'implants mammaires régénératifs avec l'impression 3D d'implants commerciaux de 200 cc, et a étendu la distribution de Vergenix™ STR à de nouveaux marchés. La position financière a été renforcée par une offre directe enregistrée de 3,6 millions $ et la trésorerie à la fin du T2 s'élevait à 11,4 millions $.

CollPlant a également nommé Bowman Bagley vice-président commercial pour l'Amérique du Nord et a élargi son accord avec STEMCELL Technologies pour un usage plus large de sa technologie rhCollagen.

CollPlant Biotechnologies (NASDAQ:CLGN) veröffentlichte die Finanzergebnisse für das zweite Quartal 2025 und Updates zu seinen Hauptprogrammen. Die Umsätze im Q2 2025 lagen bei $179.000 und damit unter den $249.000 im Q2 2024; der Nettoverlust belief sich auf $3,3 Millionen. Für das erste Halbjahr 2025 wurden Erlöse von $2,2 Millionen ausgewiesen, hauptsächlich aufgrund einer Meilensteinzahlung von $2 Millionen von AbbVie.

Wesentliche Entwicklungen umfassen den Fortschritt des photocurablen Dermal-Filler-Programms in Richtung klinischer Phase, Fortschritte bei der Entwicklung regenerativer Brustimplantate mit erfolgreichem 3D-Bioprinting von 200-cc-kommerziellen Implantaten sowie die Ausweitung des Vertriebs von Vergenix™ STR in neue Märkte. Die Finanzlage wurde durch ein registriertes Direktangebot über $3,6 Millionen gestärkt; zum Ende des Q2 verfügte das Unternehmen über $11,4 Millionen Cash.

CollPlant ernannte zudem Bowman Bagley zum VP Commercial North America und erweiterte die Vereinbarung mit STEMCELL Technologies zur breiteren Nutzung der rhCollagen-Technologie.

Positive
  • Received $2 million milestone payment from AbbVie partnership in February 2025
  • Successfully 3D bioprinted 200cc commercial-size breast implants with enhanced durability
  • Expanded distribution network for Vergenix STR into new markets including Benelux, Spain, India, and Turkey
  • Raised $3.6 million through registered direct offering
  • Expanded agreement with STEMCELL Technologies for broader rhCollagen applications
Negative
  • Q2 2025 revenues decreased to $179,000 from $249,000 in Q2 2024
  • Net loss of $3.3 million in Q2 2025
  • Reduction in sales of rhCollagen-based products
  • Operating expenses of $3.2 million despite cost reduction efforts

Insights

CollPlant reported Q2 results with modest revenue while advancing its aesthetic and regenerative programs amid cash conservation efforts.

CollPlant's Q2 2025 results reflect a company balancing development priorities with financial constraints. Q2 revenue was just $179,000 (down from $249,000 in Q2 2024), though six-month revenue reached $2.2 million thanks to a $2 million milestone payment from AbbVie in February. The company reported a quarterly net loss of $3.3 million ($0.28 per share).

The company's cash position stands at $11.4 million following a $3.6 million registered direct offering in May. Their burn rate has improved significantly, with cash used in operations at $3.6 million for the six months ended June 30, compared to $7.2 million in the same period last year – indicating successful cost-cutting measures.

CollPlant's pipeline shows progress across multiple fronts. Their photocurable dermal filler is advancing toward clinical studies following successful preclinical testing. The collaboration with AbbVie continues, with their lead dermal filler candidate now in clinical trials. Their regenerative breast implant program – targeting a multi-billion-dollar market – has demonstrated promising preclinical results including successful 3D bioprinting of commercial-size 200cc implants with vascularization and tissue ingrowth.

The company is expanding commercial operations with a new VP appointment focused on North America and broadening distribution of their Vergenix STR tendon repair product across Europe and Asia. Additionally, they've expanded their agreement with STEMCELL Technologies to include clinical development and commercial manufacturing.

CollPlant appears to be strategically balancing pipeline advancement with careful cash management while seeking potential non-dilutive transactions to extend runway. Their focus on aesthetic and regenerative medicine applications for their proprietary rhCollagen technology positions them in high-value markets, though significant revenue remains dependent on development milestones and future commercialization success.

- Sales of rhCollagen and bioinks primed for augmentation following new U.S.-based commercial executive hire -

- Raised $3.6 million in registered direct offering in second quarter - 

REHOVOT, Israel, Aug. 20, 2025 /PRNewswire/ -- CollPlant Biotechnologies (Nasdaq: CLGN), a regenerative and aesthetics medicine company developing innovative technologies and products based on its non-animal-derived, rhCollagen for tissue regeneration and medical aesthetics, today announced financial results for the second quarter of 2025 and provided a corporate update.

Yehiel Tal, CollPlant's Chief Executive Officer commented, "In recent months, CollPlant has been making strong progress with its photocurable dermal and soft tissue filler program, completing additional testing and preparing for the clinical phase. The product's superior skin-lifting, tissue-rejuvenation, and contouring capabilities have generated strong interest from leading medical aesthetics companies. We also continued to advance our regenerative breast implant program and expand distribution for our rhCollagen and bioink products in key markets. These efforts will now be led by our newly appointed, U.S.-based Head of Commercial Operations for North America."Mr. Tal continued, "To support these initiatives, we raised a modest amount of capital this quarter, providing financial flexibility while pursuing a long-term, non-dilutive transaction to drive shareholder value."

Second Quarter and Recent Highlights

Photocurable Dermal Filler Program Advancing Toward Clinical Stage

CollPlant continued to advance its photocurable dermal filler program in preclinical testing. Designed not only for superior skin lifting, this next-generation filler also promotes skin rejuvenation and enables precise facial contouring — aimed to meet the growing demand for innovative aesthetic solutions.

The program is now in the final stages of preclinical testing, with production scale-up underway, as CollPlant prepares to initiate clinical studies.

AbbVie Collaboration

In February 2025, CollPlant received a $2 million milestone payment from its partner, AbbVie, upon achieving a key development milestone under the companies' existing development and commercialization agreement.

Per this agreement, CollPlant has granted AbbVie a worldwide exclusive license to combine its proprietary recombinant human collagen (rhCollagen) technology with AbbVie's technologies for the development and commercialization of dermal and soft tissue filler products. The lead dermal filler candidate is now in the clinical phase and AbbVie is collecting data and conducting a review of interim results from the first cohort of patients enrolled under the trials initiated in 2023 and next steps for the program are to be determined by AbbVie upon concluding their assessment.

CollPlant's Regenerative Breast Implants: Addressing a Multi-Billion-Dollar Market with First-in-Class Technology

CollPlant is advancing the development of regenerative breast implants made from its proprietary, plant-derived recombinant human collagen (rhCollagen) and other biocompatible materials.

Produced using CollPlant's rhCollagen-based bioinks, these next-generation implants are designed to naturally regenerate breast tissue, avoid immune rejection, and offer a safer, more durable alternative for both aesthetic augmentation and post-mastectomy reconstruction.

Large Unmet Need: In the U.S. alone, hundreds of thousands of women undergo breast implant procedures annually, with many facing complications such as autoimmune reactions and, in rare cases, BIA-ALCL. There is currently no commercial solution that enables soft tissue regeneration in the breast — positioning CollPlant to be first-to-market with a transformative solution.

Strong Preclinical Progress

  • Successfully 3D bioprinted 200cc commercial-size implants with enhanced durability
  • Demonstrated vascularization, rapid tissue ingrowth, and early biodegradation while maintaining structure
  • No adverse tissue reactions observed
  • Refined surgical protocol for small-incision implantation and reduced complication risk
  • MRI and ultrasound in early 2025 confirmed tissue integration and vascularization

Next Steps: Continue implant optimization for long-term tissue remodeling and durability to support future clinical development.

CollPlant's regenerative breast implant program represents a paradigm shift in a multi-billion-dollar global market, with the potential to capture a significant share by delivering a safer, more natural, and longer-lasting alternative to existing implants.

Non-Core Commercial Programs

CollPlant is expanding its international distribution network for Vergenix™ STR, a tendon-repair product that combines the Company's proprietary rhCollagen technology with platelet-rich plasma (PRP).

Vergenix™ STR is designed to treat multiple forms of tendinopathy by promoting tendon healing and repair at sites including the elbow ("tennis elbow"), rotator cuff, patellar tendon, Achilles tendon, and cases of plantar fasciitis. The product has successfully completed clinical trials, holds CE Mark approval, and is currently marketed primarily in Europe.

In February 2025, CollPlant entered new markets for Vergenix™ STR in the Netherlands, Belgium, Luxembourg (Benelux), Spain, India, and Turkey. Through the remainder of 2025 and into 2026, the Company plans to further broaden the product's presence across key markets in Europe and Asia.

Corporate Updates

In April 2025, CollPlant issued commentary in response to the United States Food and Drug Administration (FDA)'s groundbreaking step announced to advance public health by replacing animal testing in the development of monoclonal antibody therapies and other drug candidates with more effective, human-relevant methods. Importantly, CollPlant's Collink.3D® portfolio of rhCollagen-based BioInk products can be utilized for the biofabrication of tissue or organ-on-a-chip systems, which serve as alternatives to animal testing. These systems can expedite the gap between benchtop studies and clinical trials, as well as be more economical and enable a reduced time to market.

In May, CollPlant announced a registered direct offering of its ordinary shares and concurrent private placement of warrants that resulted in gross proceeds of $3.6 million. The offering closed successfully in June.

In June, CollPlant announced the expansion of its agreement with STEMCELL Technologies, a biotechnology company that develops and supplies specialized cell culture media, tools, and services to support research in stem cell biology, regenerative medicine, immunology, and related life sciences. The amended agreement broadens the use of CollPlant's rhCollagen, extending beyond research applications to include clinical development and commercial-scale manufacturing.

In July, CollPlant announced the appointment of Bowman Bagley as Vice President, Commercial North America. In this newly created role, Mr. Bagley is leading the company's commercial strategy and execution in North America, including sales and marketing, logistics, and expansion of market presence for CollPlant's rhCollagen-based products and platforms.

Mr. Tal continued, "We are highly encouraged by the strong results from our preclinical studies with commercial-size regenerative breast implants and are continuing follow-up evaluations. In the coming months, we look forward to sharing additional data on our photocurable product candidate. Across all programs, we are making steady progress and remain proud to lead the global shift toward non-animal-derived collagen solutions that are shaping the future of medicine."

Three and Six Month-Period Ended June 30, 2025 Financial Results

GAAP revenues for the second quarter ended June 30, 2025, were $179,000 compared to $249,000 for the second quarter ended June 30, 2024. The decrease is mainly related to a reduction in sales of the rhCollagen-based products.

GAAP revenues for the six months ended June 30, 2025, were $2.2 million compared to $347,000 for the six months ended June 30, 2024. The increase in revenue is mainly related to a development milestone achievement relating to the dermal filler product candidate, which triggered a $2 million payment from AbbVie to CollPlant according to the AbbVie agreement.

GAAP cost of revenues for the second quarter ended June 30, 2025, was $186,000, compared to $536,000 in the second quarter ended June 30, 2024. The decrease in cost of revenues in the amount of $350,000 is mainly attributable to (i) a reduction in inventory impairments, which decreased by $184,000, (ii) a $73,000 decrease in sales of rhCollagen-based products, and (iii) insurance reimbursements received in 2025, of which $90,000 are related to cost of revenues.

GAAP cost of revenues for the six months ended June 30, 2025, was $374,000, compared to $1.1 million in the six months ended June 30, 2024. The decrease in cost of revenues in the amount of $707,000 is mainly comprised of (i) a $505,000 decrease in inventory impairments, (ii) a $167,000 decrease in sales of rhCollagen-based products, (iii) insurance reimbursements received in 2025, of which $90,000 are related to cost of revenues, and offset by (iv) a $55,000 increase in royalty expenses to the Israel Innovation Authority, mainly related to the milestone payment received from AbbVie in 2025.

GAAP gross loss for the second quarter ended June 30, 2025, was $7,000, compared to $287,000 in the second quarter ended June 30, 2024.

GAAP gross profit for the six months ended June 30, 2025, was $1.9 million, compared to gross loss of $734,000 in the six months ended June 30, 2024.

GAAP operating expenses for the second quarter ended June 30, 2025, were $3.2 million, compared to $4.1 million in the second quarter ended June 30, 2024. The decrease of approximately $900,000 is mainly related (i) the Company's cost reduction plan with: (a) a $348,000 decrease in the workforce expenses and share-based compensation expenses, (b) a $319,000 decrease in research and development materials and subcontractors expenses mainly related to the breast implants program, (c) a decrease of $132,000 in patents expenses, and offset by (ii) insurance reimbursements of $79,000 received in 2025. On a non-GAAP basis, operating expenses for the second quarter ended June 30, 2025, were $2.8 million compared to $3.6 million in the second quarter ended June 30, 2024. Non-GAAP measures exclude certain non-cash expenses.

GAAP operating expenses for the six months ended June 30, 2025, were $6.7 million, compared to $8.0 million in the six months ended June 30, 2024. The decrease of approximately $1.3 million is mainly related (i) the Company's cost reduction plan with: (a) a $492,000 decrease in the workforce expenses and share-based compensation expenses, (b) a $377,000 decrease in research and development and subcontractors expenses mainly related to the breast implants program, (c) a decrease of $116,000 in patents expenses, and offset by (ii) insurance reimbursements of $79,000 received in 2025. On a non-GAAP basis, operating expenses for the six months ended June 30, 2025, were $6.0 million, compared to $7.2 million in the six months ended June 30, 2024. Non-GAAP measures exclude certain non-cash expenses.

GAAP financial expenses, net, for the second quarter ended June 30, 2025, totaled $169,000, compared to financial income, net of $196,000 in the second quarter ended June 30, 2024. The increase of $365,000 in financial expenses, net is due to (i) a $236,000 increase in USD/NIS exchange rate differences expenses, and (ii) a $131,000 decrease in interest received from the Company's short-term cash deposits.

GAAP financial income, net, for the six months ended June 30, 2025, totaled $27,000, compared to $330,000 in the six months ended June 30, 2024. The decrease in financial income, net is due to a decrease in interest received from our short-term cash deposits and an increase in exchange rate differences expenses.

GAAP net loss for the second quarter ended June 30, 2025, was $3.3 million, or $0.28 basic loss per share, compared to net loss of $4.2 million, or $0.37 basic loss per share, for the second quarter ended June 30, 2024. Non-GAAP net loss for the second quarter ended June 30, 2025, was $2.7 million, or $0.23 loss per share, compared to a net loss of $3.8 million, or $0.33 basic loss per share, for the second quarter ended June 30, 2024.

GAAP net loss for the six months ended June 30, 2025, was $4.8 million, or $0.41 basic loss per share, compared to a net loss of $8.4 million, or $0.73 basic loss per share, for the six months ended June 30, 2024. Non-GAAP net loss for the six months ended June 30, 2025, was $3.9 million, or $0.33 loss per share, compared to a net loss of $7.7 million, or $0.67 basic loss per share, for the six months ended June 30, 2024.

Balance Sheet and Cash Flow

Cash and cash equivalents as of June 30, 2025, were $11.4 million.

Cash used in operating activities during the six months ended June 30, 2025 was $3.6 million compared to $7.2 million during the six months ended June 30, 2024.

Cash used in investing activities during the six months ended June 30, 2025, was $11,000 compared to $341,000 during the six months ended June 30, 2024, and related primarily to a decrease in purchases of property and equipment.

Cash provided by financing activities during the six months ended June 30, 2025 was $3.1 million compared to $9,000 during the six months ended June 30, 2024. The increase is mainly attributed to our registered direct offering in June 2025, which resulted in net proceeds of $3.1 million.

 








COLLPLANT BIOTECHNOLOGIES LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands) 






June 30,



December 31,




2025



2024




Unaudited





Assets







  Current assets:







     Cash and cash equivalents


$

11,434



$

11,909


     Restricted deposit



273




248


     Trade receivables, net



-




150


     Inventories



553




440


     Other accounts receivable and prepaid expenses



364




433


Total current assets



12,624




13,180


Non-current assets:









     Restricted deposit



130




118


     Operating lease right-of-use assets



2,724




2,991


     Property and equipment, net



1,857




2,290


     Intangible assets, net



102




131


Total non-current assets



4,813




5,530


Total assets


$

17,437



$

18,710


 

 

COLLPLANT BIOTECHNOLOGIES LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands, except share data)






June 30,



December 31,




2025



2024




Unaudited





Liabilities and shareholders' equity







  Current liabilities:







     Trade payables


$

571



$

870


     Operating lease liabilities



837




806


     Accrued liabilities and other payables



1,334




1,294


Total current liabilities



2,742




2,970


Non-current liabilities:









     Operating lease liabilities



2,190




2,275


Total non-current liabilities



2,190




2,275


Total liabilities



4,932




5,245











Commitments and contingencies


















Shareholders' Equity:









     Ordinary shares, NIS 1.5 par value - authorized: 30,000,000 ordinary shares as of June
          30, 2025 (unaudited) and December 31, 2024; issued and outstanding: 12,716,014
          and 11,454,512 ordinary shares as of June 30, 2025 (unaudited) and December 31,
          2024, respectively



5,492




4,983


     Additional paid in capital



126,131




122,801


     Accumulated other comprehensive loss



(969)




(969)


     Accumulated deficit



(118,149)




(113,350)


Total shareholders' equity



12,505




13,465


Total liabilities and shareholders' equity


$

17,437



$

18,710


 

 

COLLPLANT BIOTECHNOLOGIES LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. dollars in thousands, except share and per share data)
(Unaudited)






Six months ended
June 30



Three months ended
June 30




2025



2024



2025



2024


Revenues


$

2,234



$

347



$

179



$

249


Cost of revenues



374




1,081




186




536


Gross profit (loss)



1,860




(734)




(7)




(287)



















 Operating expenses:

















     Research and development



4,118




5,103




2,013




2,697


     General, administrative and marketing



2,568




2,898




1,158




1,422


 Total operating loss



4,826




8,735




3,178




4,406


 Financial income (expenses), net



27




330




(169)




196


 Net loss for the period


$

4,799



$

8,405



$

3,347



$

4,210


 Basic and diluted net loss per ordinary share


$

0.41



$

0.73



$

0.28



$

0.37


Weighted average ordinary shares outstanding used in
     computation of basic and diluted net loss per share



11,646,603




11,453,845




11,840,829




11,454,512


 

 

COLLPLANT BIOTECHNOLOGIES LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(U.S. dollars in thousands) 
(Unaudited) 






Six months ended
June 30,




2025



2024


Cash flows from operating activities:







     Net loss


$

(4,799)



$

(8,405)


     Adjustments to reconcile net loss to net cash used in operating activities:









     Depreciation and amortization



473




541


     Accrued interest



(7)




6


     Share-based compensation to employees and consultants



735




780


     Exchange differences on cash and cash equivalents and restricted cash



(71)




241


     Changes in assets and liabilities:









     Decrease (increase) in trade receivables



150




(250)


     Decrease (increase) in inventories



(111)




280


     Decrease (increase) in other accounts receivable and prepaid expenses



69




(97)


     Decrease in operating lease right of use assets



325




295


     Increase (decrease) in trade payables



(299)




158


     Decrease in operating lease liabilities



(112)




(397)


     Increase (decrease) in accrued liabilities and other payables



40




(333)


     Net cash used in operating activities



(3,607)




(7,181)


Cash flows from investing activities:









     Purchase of property and equipment



(12)




(284)


     Proceeds from sale of property and equipment



1




-


     Investment in restricted deposits



-




(57)


     Net cash used in investing activities



(11)




(341)


Cash flows from financing activities:









     Proceeds from issuance of shares and warrants less issuance expenses



3,102




-


     Exercise of options and warrants into shares



-




9


     Net cash provided by financing activities



3,102




9


Effect of exchange rate changes on cash and cash equivalents



41




(241)


Net decrease in cash and cash equivalents



(475)




(7,754)


Cash and cash equivalents at the beginning of the period



11,909




26,674











Cash and cash equivalents at the end of the period


$

11,434



$

18,920


 

 

COLLPLANT BIOTECHNOLOGIES LTD.
APPENDICES TO CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(U.S. dollars in thousands)
(Unaudited)






Six months ended
June 30,




2025



2024









Supplemental discloser of non-cash activities:
















     Right of use assets recognized with corresponding lease liabilities


$

58



$

623


  Capitalization of Share-based compensation to inventory


$

2



$

5


 

 

COLLPLANT BIOTECHNOLOGIES LTD.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(U.S. dollars in thousands, except per share data)
(Unaudited)






Six months ended
June 30



Three months ended
June 30




2025



2024



2025



2024















GAAP operating expenses:


$

6,686



$

8,001



$

3,171



$

4,119



















  Change of operating lease accounts



9




(14)




5




(15)


     Share-based compensation to employees, directors
          and consultants



(735)




(780)




(353)




(490)


Non-GAAP operating expenses:



5,960




7,207




2,823




3,614



















GAAP operating loss



4,826




8,735




3,178




4,406


  Change of operating lease accounts



9




(14)




5




(15)


     Share-based compensation to employees, directors
          and consultants



(735)




(780)




(353)




(490)


Non-GAAP operating loss



4,100




7,941




2,830




3,901



















GAAP Net loss



4,799




8,405




3,347




4,210


Change of operating lease accounts



(213)




102




(273)




53


    Share-based compensation to employees, directors
        and consultants



(735)




(780)




(353)




(490)


  Non-GAAP Net loss


$

3,851



$

7,727



$

2,721



$

3,773


GAAP basic and diluted loss per ordinary share


$

0.41



$

0.73



$

0.28



$

0.37


NON- GAAP basic and diluted loss per ordinary share


$

0.33



$

0.67



$

0.23



$

0.33


 

About CollPlant

CollPlant is a regenerative and aesthetic medicine company focused on 3D bioprinting of tissues and organs, and medical aesthetics. The Company's products are based on its rhCollagen (recombinant human collagen) produced with CollPlant's proprietary plant-based genetic engineering technology. These products address indications for the diverse fields of tissue repair, aesthetics, and organ manufacturing, and are ushering in a new era in regenerative and aesthetic medicine.

In 2021, CollPlant entered into a development and global commercialization agreement for dermal and soft tissue fillers with Allergan, an AbbVie company, the global leader in the dermal filler market.

For more information about CollPlant, visit http://www.collplant.com.

Use of Non-US GAAP ("non-GAAP")

Financial results for 2025 and 2024 are presented on both a GAAP and a non-GAAP basis. GAAP results were prepared in accordance with U.S. GAAP and include all revenue and expenses recognized during the period. The release contains certain non-GAAP financial measures for operating costs and expenses, operating income (or loss), net income (or loss) and basic and diluted net income (or loss) per share that exclude the effects of non-cash expense for share-based compensation to employees, directors and consultants, and change in operating lease accounts. CollPlant's management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company's performance that enhances management's and investors' ability to evaluate the Company's operating costs, net income (or loss) and income (or loss) per share, and to compare them to historical Company results.  

The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when operating and evaluating the Company's business internally and therefore decided to make these non-GAAP adjustments available to investors. The non-GAAP financial measures used by the Company in this press release may be different from the measures used by other companies.

For more information on the non-GAAP financial measures, please see the "Reconciliation of GAAP to Non-GAAP Financial Measures" in this release. This accompanying table has more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures.

The Company's consolidated financial statements for the second quarter ended June 30, 2025, are presented in accordance with generally accepted accounting principles in the U.S.

Forward-Looking Statements

This press release may include forward-looking statements. Forward-looking statements may include, but are not limited to, statements relating to CollPlant's objectives plans and strategies, as well as statements, other than historical facts, that address activities, events or developments that CollPlant intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as "believes," "hopes," "may," "anticipates," "should," "intends," "plans," "will," "expects," "estimates," "projects," "positioned," "strategy" and similar expressions and are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate.

Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Many factors could cause CollPlant's actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: the Company's history of significant losses, its need to raise additional capital and its inability to obtain additional capital on acceptable terms, or at all; the Company's expectations regarding the costs and timing of commencing and/or concluding pre-clinical and clinical trials with respect to breast implants, tissues and organs which are based on its rhCollagen based BioInk and other products for medical aesthetics, and specifically the Company's ability to initiate its next large-animal study for its breast implants in a timely manner, or at all; the Company's or it strategic partners' ability to obtain favorable pre-clinical and clinical trial results; regulatory action with respect to rhCollagen based bioink and medical aesthetics products or product candidates including, but not limited to acceptance of an application for marketing authorization review and approval of such application, and, if approved, the scope of the approved indication and labeling; commercial success and market acceptance of the Company's rhCollagen based products, in 3D bioprinting and medical aesthetics; the Company's ability to establish sales and marketing capabilities or enter into agreements with third parties and its reliance on third party distributors and resellers; the Company's ability to establish and maintain strategic partnerships and other corporate collaborations, including its partnership with AbbVie and its ability to continue to receive milestone and royalties payments under the AbbVie agreement; the Company's reliance on third parties to conduct some or all aspects of its product development and manufacturing; the scope of protection the Company is able to establish and maintain for intellectual property rights and the Company's ability to operate its business without infringing the intellectual property rights of others; current or future unfavorable economic and market conditions and adverse developments with respect to financial institutions and associated liquidity risk; the impact of competition and new technologies; general market, political, and economic conditions in the countries in which the Company operates, including, with respect to the ongoing war in Israel, projected capital expenditures and liquidity, changes in the Company's strategy, and litigation and regulatory proceedings. More detailed information about the risks and uncertainties affecting CollPlant are contained under the heading "Risk Factors" included in CollPlant's most recent annual report on Form 20-F filed with the SEC, and in other filings that CollPlant has made and may make with the SEC in the future. The forward-looking statements contained in this press release are made as of the date of this press release and reflect CollPlant's current views with respect to future events, and CollPlant does not undertake and specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

CollPlant:

Eran Rotem
Deputy CEO & CFO
Tel: + 972-73-2325600
Email: Eran@collplant.com 

Investors:

LifeSci Advisors
Dan Ferry
daniel@lifesciadvisors.com 

Photo - https://mma.prnewswire.com/media/2753944/CollPlant.jpg
Logo: https://mma.prnewswire.com/media/2217353/CollPlant_Logo.jpg

 

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SOURCE CollPlant

FAQ

What were CollPlant's (CLGN) Q2 2025 financial results?

CollPlant reported Q2 2025 revenues of $179,000 and a net loss of $3.3 million ($0.28 per share). The company ended the quarter with $11.4 million in cash.

What progress has CollPlant made with its regenerative breast implants program?

CollPlant successfully 3D bioprinted 200cc commercial-size implants with enhanced durability, demonstrated vascularization and tissue ingrowth, and confirmed tissue integration through MRI and ultrasound in early 2025.

How much did CollPlant raise in its 2025 registered direct offering?

CollPlant raised $3.6 million in gross proceeds through a registered direct offering of ordinary shares and concurrent private placement of warrants in May-June 2025.

What milestone payment did CollPlant receive from AbbVie in 2025?

CollPlant received a $2 million milestone payment from AbbVie in February 2025 for achieving a key development milestone under their development and commercialization agreement.

What new markets did CollPlant expand into for Vergenix STR in 2025?

In February 2025, CollPlant expanded Vergenix STR distribution into the Netherlands, Belgium, Luxembourg (Benelux), Spain, India, and Turkey.
Collplant Biotechnologies Ltd

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Biotechnology
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Israel
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