CollPlant Biotechnologies Updates on Patent, AbbVie Payment, and Cost Reductions

Collplant Holdings ( (CLGN) ) just unveiled an announcement.

CollPlant announced it has been granted a new U.S. patent for its photocurable dermal filler technology, strengthening its intellectual property in the U.S. market. The company also reported an achievement of a $2 million contingent payment from AbbVie tied to its rhCollagen technology. Additionally, CollPlant is implementing cost reduction measures, including a 20% workforce cut, to extend its cash runway and focus on advancing its product pipeline in 2025, notably its regenerative breast implant product toward clinical trials.

More about Collplant Holdings

CollPlant Biotechnologies is a regenerative and aesthetic medicine company specializing in 3D bioprinting of tissues and organs, as well as medical aesthetics. Its products are based on plant-derived recombinant human collagen (rhCollagen), targeting applications in tissue repair, aesthetics, and organ manufacturing. The company has a significant market focus, particularly in the dermal filler segment through a strategic partnership with AbbVie.

YTD Price Performance: -6.56%

Average Trading Volume: 10,853

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $40.66M

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