COLLPLANT BIOTECHNOLOGIES REPORTS 2025 SECOND QUARTER FINANCIAL RESULTS AND PROVIDES CORPORATE UPDATE
Rhea-AI Summary
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.
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
News Market Reaction 18 Alerts
On the day this news was published, CLGN gained 27.61%, reflecting a significant positive market reaction. Our momentum scanner triggered 18 alerts that day, indicating notable trading interest and price volatility. The stock closed at $2.51 on that trading session. This price movement added approximately $7M to the company's valuation, bringing the market cap to $32M at that time. Trading volume was elevated at 2.3x the daily average, suggesting notable buying interest.
Data tracked by StockTitan Argus on the day of publication.
- Sales of rhCollagen and bioinks primed for augmentation following new
- Raised
REHOVOT,
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,
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
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
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
In February 2025, CollPlant entered new markets for Vergenix™ STR in
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
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
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
GAAP revenues for the six months ended June 30, 2025, were
GAAP cost of revenues for the second quarter ended June 30, 2025, was
GAAP cost of revenues for the six months ended June 30, 2025, was
GAAP gross loss for the second quarter ended June 30, 2025, was
GAAP gross profit for the six months ended June 30, 2025, was
GAAP operating expenses for the second quarter ended June 30, 2025, were
GAAP operating expenses for the six months ended June 30, 2025, were
GAAP financial expenses, net, for the second quarter ended June 30, 2025, totaled
GAAP financial income, net, for the six months ended June 30, 2025, totaled
GAAP net loss for the second quarter ended June 30, 2025, was
GAAP net loss for the six months ended June 30, 2025, was
Balance Sheet and Cash Flow
Cash and cash equivalents as of June 30, 2025, were
Cash used in operating activities during the six months ended June 30, 2025 was
Cash used in investing activities during the six months ended June 30, 2025, was
Cash provided by financing activities during the six months ended June 30, 2025 was
COLLPLANT BIOTECHNOLOGIES LTD. | ||||||||
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. | ||||||||
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 | 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. | ||||||||||||||||
Six months ended | Three months ended | |||||||||||||||
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 | 11,646,603 | 11,453,845 | 11,840,829 | 11,454,512 | ||||||||||||
COLLPLANT BIOTECHNOLOGIES LTD. | ||||||||
Six months ended | ||||||||
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. | ||||||||
Six months ended | ||||||||
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. | ||||||||||||||||
Six months ended | Three months ended | |||||||||||||||
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 | (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 | (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 | (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
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
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
Contacts
CollPlant:
Eran Rotem
Deputy CEO & CFO
Tel: + 972-73-2325600
Email: Eran@collplant.com
Investors:
LifeSci Advisors
Dan Ferry
daniel@lifesciadvisors.com
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SOURCE CollPlant
FAQ
What were CollPlant's (CLGN) Q2 2025 financial results?
What progress has CollPlant made with its regenerative breast implants program?
How much did CollPlant raise in its 2025 registered direct offering?
What milestone payment did CollPlant receive from AbbVie in 2025?
What new markets did CollPlant expand into for Vergenix STR in 2025?
