CollPlant Biotechnologies Ltd. develops regenerative and aesthetic medicine technologies based on plant-derived recombinant human collagen, or rhCollagen. News about CLGN centers on its BioInk and 3D bioprinting portfolio, including Collink.3D and BioFlex, as well as medical aesthetics programs such as photocurable dermal filler technology and tissue-regeneration applications.
Company updates also cover operating and financial results, distribution expansion for rhCollagen and BioInk products, Vergenix STR commercialization, intellectual-property activity, collaboration developments, capital actions and Nasdaq listing-compliance matters.
CollPlant (NASDAQ: CLGN) reported Q2 2020 revenues of $823,000, marking a 36% increase from $606,000 in Q2 2019. The comprehensive loss was $2.0 million on a GAAP basis, equating to $0.28 per share. Cash reserves stood at $3.7 million. The company is advancing its rhCollagen platform and partnering with United Therapeutics to address organ shortages. Additionally, it plans to launch new dermal fillers and expand its workforce. Operating expenses increased by 5% YoY, while the gross profit declined to $75,000.