Welcome to our dedicated page for Elutia news (Ticker: ELUT), a resource for investors and traders seeking the latest updates and insights on Elutia stock.
Elutia Inc. (Nasdaq: ELUT) is a regenerative medicine company that develops drug-eluting biomatrix products to improve compatibility between implantable medical devices and patients. The ELUT news feed on Stock Titan aggregates company-issued updates, regulatory disclosures and other coverage so readers can follow how Elutia’s biomatrix platform and business strategy are evolving over time.
Recent Elutia news has focused on its NXT-41 and NXT-41x biomatrix programs in plastic and reconstructive surgery, particularly breast reconstruction. Press releases describe NXT-41 as a novel base matrix and NXT-41x as an antibiotic-eluting version built on a platform that was clinically and commercially validated with EluPro, which the company sold to Boston Scientific as part of its BioEnvelope business divestiture. News items also discuss expected regulatory milestones for these products and the company’s intention to use proceeds from asset sales to fund development and commercialization.
Investors and observers can also find coverage of financial results and capital structure changes, including quarterly earnings press releases, the impact of the $88 million BioEnvelope sale, repayment of secured debt, and updates on cash balances described in preliminary financial announcements. Additional news includes information on board changes, conference presentations, and published clinical data on biologic envelopes used with cardiac implantable electronic devices, which illustrate how Elutia’s biomatrix technology has performed in prior applications.
Because Elutia operates in a regulated medical and biotech environment, its news often touches on clinical evidence, FDA-related expectations, litigation updates and Nasdaq listing matters, such as the November 2025 notice regarding minimum bid price compliance. Bookmarking this ELUT news page provides a single location to review Elutia’s ongoing disclosures about its drug-eluting biomatrix platform, strategic transactions and progress in targeted surgical markets.
Elutia Inc. (Nasdaq: ELUT) has announced the first patient implant of EluPro™, the world's first FDA-cleared antibiotic-eluting biologic envelope for cardiac pacemakers and neurostimulators. The procedure was performed by Dr. John Catanzaro at East Carolina University Health Medical Center. EluPro is designed to prevent post-operative complications in patients with implantable devices.
Cleared by the FDA in June 2024, EluPro targets the $600 million U.S. implantable electronic device protection market. Elutia aims to establish a presence in the $8 billion cardiac rhythm management market and adjacent $8 billion neurostimulation sectors. The full commercial launch of EluPro is scheduled for January 2025.
Elutia (Nasdaq: ELUT), a leader in drug-eluting biomatrix products, has announced its participation in two upcoming investor conferences in New York. Dr. Randy Mills, President and CEO, and Matt Ferguson, CFO, will represent the company at these events:
1. H.C. Wainwright 26th Annual Global Investment Conference:
- Presentation available on-demand from September 9, 2024, 7:00 a.m. ET
- One-on-one meetings on September 11, 2024
2. Lake Street Capital Markets 8th Annual Best Ideas Growth Conference:
- One-on-one meetings on September 12, 2024
Institutional investors can arrange meetings with Elutia's management through their H.C. Wainwright and Lake Street representatives.
Elutia (Nasdaq: ELUT) announced its financial results for Q2 2024. Key highlights include FDA clearance for EluPro, the first antibiotic-eluting BioEnvelope for implantable electronic devices, and a successful FDA inspection of its manufacturing facility. The company has commenced EluPro's production and expanded its commercial team. Financially, net sales were steady at $6.3 million. CanGaroo and SimpliDerm sales rose by 19% and 7% respectively, while cardiovascular product sales dropped 38%. Gross margin improved to 45% from 43%. However, total operating expenses increased to $11.3 million, resulting in a higher net loss of $28.2 million, primarily due to a non-cash charge of $18.3 million related to warrant revaluation. Adjusted EBITDA showed an improved loss of $2.9 million. The cash balance stood at $18.2 million, not including $13.8 million from warrant exercises post-quarter.
Elutia Inc. (Nasdaq: ELUT) has announced the full exercise of warrants from a September 2023 private placement, generating $15.7 million in gross proceeds. This financial boost strengthens Elutia's balance sheet, supporting the launch of EluPro®, the world's first FDA-cleared antibiotic-eluting BioEnvelope. CEO Dr. Randy Mills emphasized the significance of this capital injection, attributing it to the substantial shareholder value created over the past year.
The private placement involved the sale of 7,355,869 shares of common stock (or pre-funded warrants) and 11,033,804 warrants at $1.4275 per share and associated warrants. All non-pre-funded common stock warrants have been exercised. Lake Street Capital Markets, served as the exclusive placement agent for this transaction.
Elutia Inc. (Nasdaq: ELUT) has appointed Ryan Marques, Ph.D., MBA as Vice President of Operations. Dr. Marques brings over 20 years of experience in leading operations teams across manufacturing, quality assurance, supply chain, and technical services in the device and pharmaceutical industries. This appointment comes as Elutia prepares to launch EluPro®, the world's first FDA-cleared antibiotic-eluting BioEnvelope, in the second half of 2024.
Dr. Marques previously served as Head of U.S. Operations at Nobelpharma America and has held leadership positions at Next Breath Inc./Aptar Pharma and Canon BioMedical. He holds a Ph.D. in Molecular Microbiology and Immunology and an MBA from the University of Maryland. His expertise is expected to be instrumental in Elutia's growth and product expansion.
Elutia Inc. (Nasdaq: ELUT), a pioneer in drug-eluting biomatrix products, has announced it will release its second quarter 2024 financial results after market close on Wednesday, August 7, 2024. The company's management team will host a conference call and webcast starting at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time on the same day.
Investors can access the conference call through a webcast or by phone using the following details:
- U.S. Investors: 877-407-8029
- International Investors: 201-689-8029
- Conference ID: 13747696
A live and archived webcast of the event will be available on the 'Investors' section of the Elutia website at https://investors.elutia.com/.
Elutia (Nasdaq: ELUT), a leader in drug-eluting biomatrix products, announced that Dr. Randy Mills, President and CEO, will present at the Emerging Growth Conference on July 18, 2024, at 12:35 p.m. ET (9:35 a.m. PT). The event will be webcast live, and interested institutional investors can schedule one-on-one meetings with Elutia's management by contacting IR@elutia.com. This presentation will provide insights into Elutia's current projects and future plans, making it a important event for stakeholders and potential investors.
Elutia has announced a $13.26 million registered direct offering, agreeing to sell 3,175,000 shares of its Class A common stock at $3.40 per share, and 725,000 prefunded warrants at $3.399 per warrant. The prefunded warrants are immediately exercisable at an exercise price of $0.001 per warrant. The gross proceeds, expected to be $13.26 million, will be used for working capital and general corporate purposes. The offering, managed by Lake Street Capital Markets, is set to close around June 18, 2024, pending customary conditions. The securities are offered under an effective SEC shelf registration statement.
Elutia announced that its Antibiotic-Eluting BioEnvelope, EluPro, has received FDA clearance. This innovative product is designed to protect patients with implantable cardiac devices from complications such as infection, migration, and skin erosion. EluPro is the only biologic solution in the $600 million U.S. implantable electronic device protection market. Additionally, EluPro has been cleared for use with neurostimulators and neuromodulators, opening up an $8 billion market opportunity. The product combines antibiotic therapy with advanced tissue engineering to create a regenerative pocket for the device. Elutia plans to launch EluPro nationwide in the second half of 2024.
Elutia Inc. (Nasdaq: ELUT) will showcase its CanGaroo® BioEnvelope product line at the Heart Rhythm Society's annual meeting. The innovative biologic matrix enhances device stability and patient comfort for cardiac implantable electronic devices. Elutia's management team will be present at the event to demonstrate the product's benefits.
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