CLGN

REHOVOT, Israel, May 29, 2026 /PRNewswire/ -- CollPlant Biotechnologies (NASDAQ: CLGN), a regenerative and medical aesthetics company developing innovative technologies and products based on its non-animal-derived recombinant human collagen (rhCollagen) for tissue regeneration and medical aesthetics applications, today announced financial results for the first quarter of 2026 and provided a corporate update. "In the first quarter of 2026, we initiated discussions with several leading strategic players to explore potential collaborations, primarily in the medical aesthetics field," said Yehiel Tal, Chairperson and Chief Executive Officer of CollPlant Biotechnologies. "These discussions are focused on the potential joint development and commercialization of next-generation dermal filler product candidates incorporating CollPlant's rhCollagen technology in combination with hyaluronic acid and additional components. We are actively advancing these discussions and, while no assurance can be provided, remain encouraged by the level of interest and the progress achieved to date." Mr. Tal continued: "CollPlant is also advancing development of its next-generation photocurable dermal filler platform based on rhCollagen technology, designed to provide immediate structural support together with the potential for long-term tissue regeneration. The product candidate, currently in the final preclinical stage, is intended to address age-related volume loss and facial changes associated with significant weight reduction. During the quarter, the Korean Patent Office granted CollPlant a patent covering key aspects of the photocurable dermal filler technology, further strengthening our intellectual property portfolio in regenerative aesthetics." "The Company is planning to establish a broader portfolio of regenerative dermal and soft tissue fillers and is targeting initiation of clinical studies within the next two years. In parallel, we are actively engaging with potential strategic partners to support the next phase of development and future commercialization activities." "With respect to our 3D bioprinting activities, during the first quarter we launched BioFlex, a ready-to-print rhCollagen-based kit optimized for high-resolution DLP bioprinting applications. BioFlex is designed to support advanced tissue modeling, drug discovery, and regenerative medicine research applications." Mr. Tal concluded: "The medical aesthetics market continues to seek safe and innovative solutions capable of delivering improved clinical outcomes and enhanced patient experience. We believe CollPlant's non-animal rhCollagen technology is uniquely positioned to address this need through regenerative approaches aimed at tissue rejuvenation and restoration. The strong interest we are receiving from potential partners further supports our confidence in the value and differentiation of our platform." Eran Rotem, Deputy CEO and Chief Financial Officer, added: "In parallel with our ongoing operational and development activities, we have initiated a process to evaluate strategic alternatives aimed at maximizing shareholder value. This process includes assessment of a broad range of opportunities, including potential acquisitions, strategic transactions, and other business combination opportunities". CollPlant has not established a definitive timetable for this process, nor has it made any decisions regarding a specific strategic transaction at this time. The Company does not intend to provide further updates unless a disclosure is required by law or deemed necessary. First Quarter 2026 Financial Results GAAP revenues for the first quarter ended March 31, 2026, were $73,000, compared to $2.1 million for the first quarter ending March 31, 2025. This decrease was primarily due to a $2.0 million development milestone payment from a former business collaborator, which was recognized as revenue in Q1 2025 and did not recur in the current period. GAAP cost of revenues for the first quarter ended March 31, 2026, was $316,000, compared to $188,000 for the first quarter ended March 31, 2025. This $128,000 increase was primarily driven by approximately $183,000 in fixed production facility costs expensed directly to cost of revenues, rather than capitalized into inventory, due to underutilized capacity during the period. This increase was partially offset by a $59,000 decrease in royalty expenses. GAAP gross loss for the first quarter ending March 31, 2026, was $243,000, compared to a gross profit of $1.9 million for the first quarter ending March 31, 2025. GAAP operating expenses for the first quarter ending March 31, 2026, were $2.9 million, compared to $3.5 million, for the first quarter ending March 31, 2025. The decrease of approximately $643,000 is mainly related to the Company's cost reduction plan with: (i) a $217,000 decrease in the workforce expenses, (ii) a $257,000 decrease in research and development subcontractors expenses and materials expenses, and (iii) a $105,000 reduction in general and administrative public company expenses. On a non-GAAP basis, the operating expenses for the first quarter ending March 31, 2026, were $2.7 million, compared to $3.1 million for the first quarter ending March 31, 2025. Non-GAAP measures exclude certain non-cash expenses. GAAP financial income, net, for the first quarter ending March 31, 2026, totaled $18,000, compared to $196,000 for the first quarter ending March 31, 2025. The decrease in financial income, net, is due to a decrease in interest received and exchange rate differences. GAAP net loss for the first quarter ending March 31, 2026, was $3.1 million, or $0.23 basic loss per share, compared to a net loss of $1.5 million, or $0.13 basic loss per share, for the first quarter ending March 31, 2025. Non-GAAP net loss for the first quarter ending March 31, 2026, was $2.9 million, or $0.21 basic loss per share, compared to $1.1 million loss, or $0.1 basic loss per share, for the first quarter ending March 31, 2025. Balance Sheet and Cash Flow The Company's cash and cash equivalents balance as of March 31, 2026, was $4.3 million. Net cash used in operating activities was $3.0 million during the first quarter ended March 31, 2026, compared to $1.2 million for the first quarter ended March 31, 2025. Cash used during the first quarter ended March 31, 2026, increased compared to the same quarter last year, primarily due to a development milestone achievement in Q1 2025 that triggered a $2.0 million revenue payment from a former business collaborator. In addition, we have undertaken targeted cost-cutting measures, including a reduction in headcount by approximately 50%, to streamline our operations and enhance financial discipline. Net cash used in investing activities was $6,000 during the first quarter ending March 31, 2026, compared to $8,000 for the first quarter ending March 31, 2025. Net cash provided by financing activities was $1.7 million for the first quarter ending March 31, 2026. There was no cash flow from financing activities during the first quarter ending March 31, 2025. The increase is attributed to our registered direct offering in February 2026, which resulted in net proceeds of $1.7 million. Use of Non-US GAAP ("non-GAAP") Financial results for 2026 and 2025 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 first quarter ended March 31, 2026, are presented in accordance with generally accepted accounting principles in the U.S. About CollPlant CollPlant is a regenerative and aesthetic medicine company ushering in a new era of medical solutions with a focus on 3D bioprinting of tissues and organs, tissue repair 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. For more information about CollPlant, visit http://www.collplant.com. Forward-Looking Statements This press release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements relating to CollPlant's objectives plans and strategies, including its evaluation of strategic alternatives, 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, including uncertainties surrounding the methods of fundraising and the Company's preferences regarding such methods, and including its ability to conclude a non-dilutive financing transaction; uncertainties regarding the Company's evaluation of strategic alternatives, including whether or when any acquisition, strategic transaction, business combination or other opportunity may be pursued or consummated, the terms of any such transaction, and the potential impact of any such transaction or other strategic alternative on the Company, its business, financial condition, results of operations and shareholders; the Company's expectations regarding the costs and timing of commencing and/or concluding pre-clinical and clinical trials with respect to dermal and tissue fillers, breast implants, tissues and organs which are based on its rhCollagen based BioInk and other products for medical aesthetics; the Company's or Company's 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; 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 development plans and projects, 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 RotemDeputy CEO & CFO+ [email protected] Photo - https://mma.prnewswire.com/media/2990248/CollPlant.jpgLogo - https://mma.prnewswire.com/media/2217353/CollPlant_Logo.jpg View original content to download multimedia:https://www.prnewswire.com/news-releases/collplant-biotechnologies-reports-2026-first-quarter-financial-results-and-provides-corporate-update-302785500.html

REHOVOT, Israel, March 26, 2026 /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 its 2025 financial results and provided a corporate update. "Over the past year, we have made meaningful progress across all fronts-from advancing our collaborative programs to building momentum in our proprietary pipeline and commercial product portfolio. In aesthetic medicine, we achieved a development milestone that triggered a $2 million payment from our collaboration partner, AbbVie. We also expanded our commercial reach by broadening our distribution footprint into North America through a new partnership with a U.S.-based logistics center, while strengthening the European distribution network for our commercial product, Vergenix STR. We further strengthened our pipeline by leveraging new preclinical data to refine the commercial design of our regenerative breast implants. In addition, we expanded our intellectual property portfolio with newly granted patents in the United States and South Korea covering our photocurable dermal filler technology. CollPlant also continued to drive innovation beyond its core development programs. Using our rhCollagen, researchers at Mayo Clinic created the first fully humanized 3D bioprinted skin model designed to serve as an alternative to animal testing in preclinical research. In parallel, we reported results from a comparative study demonstrating that CollPlant's rhCollagen-based bioink, Collink.3D™, outperformed Matrigel®, a leading extracellular matrix, in supporting structured tissue formation. We believe these findings reinforce the potential of Collink.3D™ as a consistent, tunable, and animal-free alternative for advanced tissue engineering and research applications-an opportunity representing an approximately $100 million market that is projected to grow at more than 10% annually. Mr. Tal added, "These achievements collectively highlight how our rhCollagen platform enables animal-free solutions across healthcare and industry. Its applications range from drug discovery and regenerative medicine to advanced tissue modeling and safety testing for cosmetics and pharmaceutical products." 2025 and Recent Corporate Updates rhCollagen 3D Bioprinting Portfolio In February 2026, CollPlant announced the launch of BioFlex, a ready-to-print rhCollagen-based kit designed for Digital Light Processing (DLP) 3D bioprinting applications. BioFlex is engineered to support the biofabrication of advanced tissue models for drug discovery, as well as the development of engineered tissues and potentially transplantable organs. The ready-to-use system includes Collink.3D™ 50, a biodegradable polymer component, together with proprietary photoactive agents optimized for high-resolution DLP printing. Designed for both academic laboratories and industrial R&D environments, BioFlex enables advanced applications in 3D bioprinting, tissue engineering, and regenerative medicine, helping accelerate the translation of research concepts into functional tissue constructs. In October 2025, CollPlant announced that a scientific article published in Archives of Dermatological Research reported that researchers at the Mayo Clinic developed the first fully humanized 3D bioprinted skin model using CollPlant's plant-derived rhCollagen. By combining rhCollagen with key human skin cell types, the model provides an innovative, sustainable, and ethical alternative to animal testing in preclinical research, with potential applications in cosmetic and pharmaceutical testing, disease modeling, and drug development. Also in October 2025, CollPlant announced the expansion of its distribution footprint into North America through a new partnership with a U.S.-based logistics center. The logistics hub provides full cGMP-compliant storage and distribution services and will serve as a clinical supply depot. This expansion is expected to support CollPlant's growing customer base for its rhCollagen and BioInk product lines across the United States and Canada. AbbVie Collaboration Under CollPlant's existing development and commercialization agreement with development partner, AbbVie, CollPlant has granted AbbVie a worldwide exclusive license to use CollPlant's rhCollagen technology in combination with AbbVie's proprietary technologies for the development and commercialization of dermal and soft tissue fillers. AbbVie is conducting a review of interim results from the first cohort of patients enrolled under the clinical trials initiated in 2023. Next steps for the program are to be determined by AbbVie upon concluding their assessment. In February 2025, following a development achievement, CollPlant received a $2 million payment from AbbVie, according to the development and commercialization agreement. Regenerative Breast Implants In August 2024, CollPlant initiated a preclinical study evaluating its 200cc clinical-sized regenerative breast implants, which were manufactured with enhanced durability. The surgical protocol was refined to enable implantation through a small incision while minimizing the risk of implant displacement or inversion. Analysis of MRI and ultrasound imaging conducted in 2025 confirmed tissue integration and vascularization, providing valuable diagnostic insights for future clinical applications. At six months post-implantation, one study arm demonstrated promising outcomes, with the implant showing vascularization and rapid tissue ingrowth throughout the clinical-sized implant. No complications, including capsule formation, calcifications, or local tissue reactions, were observed. In addition, implant volume retention and mechanical properties were maintained in the successful study arm. Following completion of this study phase, CollPlant plans to further optimize the regenerative breast implants to support long-term durability and remodeling of the newly vascularized tissue. Mr. Tal added, "CollPlant's breast implants currently under development represent a paradigm-shifting approach, designed not only to regenerate breast tissue but also to offer inherent safety advantages. Following upgrades to our bioprinting process and related manufacturing capabilities, we have been able to produce and test commercial-sized implants. We are encouraged by the results observed to date. This program represents one of our lead development initiatives and has the potential to position CollPlant at the forefront of regenerative medicine." In the United States alone, hundreds of thousands of patients each year experience complications associated with breast implants, ranging from autoimmune-related symptoms to the rare but serious condition of breast implant-associated anaplastic large cell lymphoma (BIA-ALCL). CollPlant's breast implants, composed of the Company's proprietary plant-derived rhCollagen and additional biomaterials, are designed to support the regeneration of breast tissue without eliciting an immune response. As such, they may offer a transformative alternative for both aesthetic and reconstructive procedures, including post-mastectomy breast reconstruction for cancer patients. Intellectual Property Photocurable Dermal Filler Product Candidate In February 2025, CollPlant announced that it had been granted U.S. Patent No. 12,186,449 related to its photocurable dermal filler product candidate. The patent covers polymerizable solutions comprised of modified rhCollagen and additional components such as hyaluronic acid and is expected to remain in force until 2039. More recently, CollPlant announced that the Korean Patent Office has allowed a patent application covering key aspects of the Company's photocurable dermal filler technology currently under development for the aesthetic medicine market. South Korea represents one of the largest target markets for CollPlant's photocurable dermal filler product candidate. rhCollagen Curable BioInk Product Portfolio In November 2025, CollPlant announced that the Japan Patent Office (JPO) granted a second patent under Patent Application No. 2023-101072, securing intellectual property protection in Japan for CollPlant's portfolio of rhCollagen-based curable BioInks through 2038. The newly granted patent relates to CollPlant's innovative curable Collink.3D® BioInk product pipeline, which represents the first and only line of human collagen BioInk products based on chemically modified plant-derived rhCollagen that can be mass produced with high purity and consistency. Collink.3D enables scalable and reproducible biofabrication of tissue models, tissues, and potentially organ transplants, while closely mimicking the native properties of biological tissues. In addition, these BioInks are animal-free, exhibit optimal rheological properties at room temperature, support high cell viability across multiple cell types, and are biocompatible and non-immunogenic. "These patent allowances and grants represent important milestones in executing our strategy to expand the clinical and commercial applications of our rhCollagen platform into high-value aesthetic and regenerative medicine markets," said Yehiel Tal, Chief Executive Officer of CollPlant. "The United States and South Korea are strategically important markets in aesthetic medicine, and strengthening our intellectual property position in these regions further enhances the long-term value of our technology." Cost Reductions and Program Prioritization In November 2025, CollPlant updated its expense forecast and implemented a cost-reduction and workforce optimization plan. As part of this initiative, the Company adjusted its resource allocation and reduced its workforce by approximately 25%. Redesigned Corporate Website In March 2026 CollPlant announced the launch of its redesigned corporate website at www.collplant.com. The new website provides expanded information regarding the Company's technology platform, product pipeline, strategic collaborations and corporate governance, and is intended to enhance transparency and accessibility for investors, partners, and other stakeholders. Year-Ended December 31, 2025 Financial Results GAAP revenues for the year ended December 31, 2025, were $2.4 million compared to $515,000 for the year ended December 31, 2024. The increase in revenues is mainly attributable 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 Development Agreement. GAAP cost of revenues for the year ended December 31, 2025, was $835,000, compared to $1.6 million for the year ended December 31, 2024. The decrease in cost of revenues in the amount of $790,000 is mainly comprised of (i) a $537,000 decrease in inventory impairments, (ii) a $228,000 decrease relating to bioinks and rhCollagen sales, and (iii) a $90,000 insurance reimbursement received in 2025. GAAP gross profit for the year ended December 31, 2025, was $1.5 million, compared to $1.1 million gross loss for the year ended December 31, 2024. GAAP operating expenses for the year ended December 31, 2025, were $13.0 million, compared to $16.1 million for the year ended December 31, 2024. The decrease of approximately $3.1 million is mainly as a result of the Company's cost reduction plan, that includes: (i) a $1.5 million decrease in the workforce expenses and share-based compensation expenses, (ii) a $1.1 million decrease in research and development materials and subcontractors expenses mainly related to the breast implants program, and (iii) a decrease of $145,000 in patents expenses. On a non-GAAP basis, operating expenses for the year ended December 31, 2025, were $12.1 million, compared to $14.4 million in the year ended December 31, 2024. GAAP financial expenses, net, for the year ended December 31, 2025, totaled $6,000, compared to $642,000 financial income, net, for the year ended December 31, 2024. The increase in financial expenses, net is due to (i) a decrease of $358,000 in interest received from our short-term cash deposits, and (ii) an increase of approximately $292,000 in exchange rate differences expenses. GAAP net loss for the year ended December 31, 2025, was $11.5 million, or $0.94 basic loss per share, compared to net loss of $ $16.6 million, or $1.45 basic loss per share, for the year ended December 31, 2024. Non-GAAP net loss for the year ended December 31, 2025, was $10.2 million, or $0.83 loss per share, compared to a net loss of $14.9 million, or $1.3 basic loss per share, for the year ended December 31, 2024. Balance Sheet and Cash Flow The Company's cash and cash equivalents balance as of December 31, 2025 was $5.6 million. Cash used in operating activities during the year ended December 31, 2025 was $9.4 million compared to $14.1 million during the year ended December 31, 2024. Cash used in investing activities during the year ended December 31, 2025, was $27,000 compared to $539,000 during the year ended December 31, 2024, and related primarily to a decrease in purchases of property and equipment. Cash provided by financing activities during the year ended December 31, 2025 was $3.1 million compared to $9,000 during the year ended December 31, 2024. The increase is mainly attributed to our registered direct offering in June 2025, which resulted in net proceeds of $3.1 million. 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 year ended December 31, 2025, are presented in accordance with generally accepted accounting principles in the U.S. A copy of the Company's annual report on Form 20-F for the year ended December 31, 2025 has been filed with the U.S. Securities and Exchange Commission at www.sec.gov and posted on the Company's investor relations website at http://ir.collplant.com/. The Company will deliver a hard copy of its annual report, including its complete audited consolidated financial statements, free of charge, to its shareholders upon request to CollPlant Investor Relations at 4 Oppenheimer, Weizmann Science Park, Rehovot 767104, Israel or by phone at +972-73-232 5600. 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. Contact CollPlant: Eran Rotem Deputy CEO & CFO Tel: + 972-73-2325600 Email: [email protected] Logo - https://mma.prnewswire.com/media/2217353/CollPlant_Logo.jpg View original content:https://www.prnewswire.com/news-releases/collplant-biotechnologies-reports-2025-financial-results-and-provides-corporate-update-302726091.html

Expansion of rhCollagen and BioInk raw material sales in North American territories expected through a new partnership with a U.S.-based logistics center scheduled to become operational this quarter and under new commercial leadership for this region Recent developments suggest CollPlant's rhCollagen will have a significant contribution towards innovation in the areas of non-animal alternatives for medical and research Plan for cost reductions and program prioritization in place to extend cash runway REHOVOT, Israel, Nov. 26, 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 third quarter of 2025 and provided a corporate update. Yehiel Tal, CollPlant's Chief Executive Officer, remarked, "CollPlant continued to advance innovation this quarter beyond its core development programs. Using our rhCollagen, researchers at Mayo Clinic created the first fully humanized bioprinted skin model designed to serve as an alternative to animal testing for preclinical research. In parallel, we reported results from a comparative study demonstrating that CollPlant's rhCollagen-based bioink, Collink.3D™, outperformed Matrigel®, a leading extracellular matrix, in supporting structured tissue formation. These findings reinforce the potential of Collink.3D™ as a consistent, tunable, and animal-free alternative for advanced tissue engineering and research applications-an opportunity representing an approximately $100 million-dollar market that is estimated to grow over 10% annually." Mr. Tal continued, "Together, these achievements highlight the expanding role of our rhCollagen platform in enabling non-animal alternatives for medical, pharmaceutical, and consumer research-from drug discovery, regenerative medicine, and tissue modeling to advanced testing for pharmaceuticals and cosmetics." 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 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. Next steps for the program are to be determined by AbbVie upon concluding their assessment. Cost Reductions and Program Prioritization CollPlant recently updated its expense forecast and has initiated a cost cutting and workforce reduction plan. CollPlant updated its allocation of resources which is expected to result in a reduction in CollPlant's workforce by approximately 25%. Mr. Tal added, "In 2026, CollPlant will prioritize its collaboration with AbbVie and continue advancing its own dermal filler product candidate. I look forward to sharing progress updates on these programs in the coming months. In parallel, we plan to actively seek a strategic partner to collaborate with us on the continued development of our novel regenerative breast implant product candidate." Third Quarter and Recent Highlights Today, CollPlant announced that its Board Chairman, Roger Pomerantz, M.D., has informed the Company that he has elected not to re-nominate himself at the upcoming Annual General Meeting of Shareholders. In his place, the Board of Directors has nominated Mr. Yehiel Tal, the Company's CEO, as interim Chairman of the Board of Directors, subject to the approval of the Company's shareholders. The Company sincerely thanks Dr Pomerantz for his five years of dedicated service. On October 27, 2025, the Company announced the expansion of its distribution footprint in North America through a partnership with a U.S.-based logistics center. Expected to become operational this quarter, the facility will provide full cGMP-compliant storage and distribution services and function as a clinical supply depot. This expansion is expected to strengthen support for CollPlant's growing customer base across the U.S. and Canada for its rhCollagen and BioInk product portfolios. On October 20, 2025, the Company announced positive results from a head-to-head comparative study of its rhCollagen-based bioink, Collink.3D™, and Matrigel®, conducted by the Levenberg Lab at Technion - Israel Institute of Technology. In this study, the Technion found that CollPlant's rhCollagen-based bioink, Collink.3D™, outperformed Matrigel®, a leading extracellular matrix, in supporting structured tissue formation. The findings suggest Collink.3D™ could offer a consistent, tunable, and animal-free alternative for advanced tissue engineering and research applications. This is an important finding since extracellular matrices are key tools in drug discovery, regenerative medicine, and tissue modeling. The study confirmed that CollPlant's plant-based technology provides a sustainable and ethical approach without compromising performance. The global market for Matrigel and other membrane matrices was valued at $96 million in 2024 and is projected to reach a revised size of $201 million by 2031, growing at a compounded annual growth rate (CAGR) of over 11.2%. Global key players of Matrigel include Corning, Thermo Fisher Scientific, and R&D Systems. These top three players hold a market share of over 69%. On October 16, 2025, the Company announced that a scientific article published in Archives of Dermatological Research reported that researchers at Mayo Clinic have developed the first fully humanized 3D bioprinted skin model using CollPlant's plant-derived rhCollagen. By combining rhCollagen with key human skin cell types, the model offers an innovative, sustainable, and ethical alternative to animal testing for preclinical research, with broad potential applications in cosmetic and pharmaceutical testing, disease modeling, and drug development. In July 2025, CollPlant announced the appointment of Bowman Bagley as Vice President, Commercial North America. In this newly established role, Mr. Bagley is responsible for leading CollPlant's commercial strategy and execution across the region, including sales and marketing, logistics, and the expansion of market presence for the Company's rhCollagen-based products and technology platforms. Photocurable Dermal Filler Program Advancing Toward Clinical Stage CollPlant continues to advance its photocurable dermal filler program through preclinical development to address the growing demand for innovative aesthetic solutions. On September 30, 2025, the Company announced positive results from its non-clinical program evaluating the photocurable dermal filler and outlined plans to progress this product candidate into clinical trials. This next-generation filler represents a meaningful innovation in aesthetic medicine by combining precise facial contouring, superior lifting and structural support, and regenerative potential in a single treatment. The program has now entered the final stages of preclinical testing, and production scale-up is underway as CollPlant prepares for the initiation of clinical studies. Commercial Programs CollPlant is expanding the distribution of its rhCollagen material and BioInk product lines across North America, supported by the appointment of Bowman Bagley as Vice President, Commercial North America, and the launch of a new U.S.-based logistics center. This center will enhance distribution capacity and improve logistical efficiency for rhCollagen and BioInk products. In parallel, CollPlant is broadening its international distribution network for Vergenix™ STR, its tendon-repair product that combines the Company's proprietary rhCollagen with platelet-rich plasma (PRP). This year, the Company expanded into seven new markets: the Netherlands, Belgium, Luxembourg (Benelux), Spain, India, Poland, and Turkey. In 2026, CollPlant plans to further extend the product's reach across key markets in Europe and Asia. Mr. Tal concluded, "We remain highly encouraged by the additional results emerging from the preclinical studies of our commercial-size regenerative breast implants, as well as from the ongoing evaluations of our photocurable dermal filler program. While advancing these core product candidates, we have also continued to expand distribution for our rhCollagen and bioink product lines in key markets, supported by the appointment of our U.S.-based Head of Commercial Operations for North America. Strengthening our presence in this priority territory positions us to identify new commercial opportunities and drive incremental revenue. The launch of our new North American logistics center will further enhance distribution capacity for our rhCollagen and BioInk portfolios while improving operational efficiency." Three and Nine Month-Period Ended September 30, 2025 Financial Results GAAP revenues for the third quarter ended September 30, 2025, were $77,000 compared to $4,000 for the third quarter ended September 30, 2024. The increase is mainly related to increase in sales of the rhCollagen-based products. GAAP revenues for the nine months ended September 30, 2025, were $2.3 million compared to $351,000 for the nine months ended September 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 third quarter ended September 30, 2025, was $269,000, compared to $272,000 in the third quarter ended September 30, 2024. GAAP cost of revenues for the nine months ended September 30, 2025, was $643,000, compared to $1.4 million in the nine months ended September 30, 2024. The decrease in cost of revenues in the amount of $710,000 is mainly comprised of (i) a $535,000 decrease in inventory impairments, (ii) a $142,000 decrease in sales of rhCollagen-based products, and (iii) insurance reimbursements received in 2025, of which $90,000 are related to cost of revenues, and offset by a $57,000 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 third quarter ended September 30, 2025, was $192,000, compared to $268,000 in the third quarter ended September 30, 2024. GAAP gross profit for the nine months ended September 30, 2025, was $1.7 million, compared to gross loss of $1.0 million in the nine months ended September 30, 2024. GAAP operating expenses for the third quarter ended September 30, 2025, were $3.3 million, compared to $4.3 million in the third quarter ended September 30, 2024. The decrease of approximately $1.0 million is a result of the Company's cost reduction plan and mainly includes: (a) a $513,000 decrease in the workforce expenses and share-based compensation expenses, and (b) a $519,000 decrease in research and development materials and subcontractors' expenses mainly related to the breast implants program. On a non-GAAP basis, operating expenses for the third quarter ended September 30, 2025, were $3.0 million compared to $3.8 million in the third quarter ended September 30, 2024. Non-GAAP measures exclude certain non-cash expenses. GAAP operating expenses for the nine months ended September 30, 2025, were $10.0 million, compared to $12.3 million in the nine months ended September 30, 2024. The decrease of approximately $2.3 million is mainly as a result of the Company's cost reduction plan, that includes: (a) a $904,000 decrease in the workforce expenses and share-based compensation expenses, (b) a $881,000 decrease in research and development and subcontractors expenses mainly related to the breast implants program, (c) a decrease of $94,000 in patents expenses, and in addition, the decrease is from an insurance reimbursements of $79,000 received in 2025. On a non-GAAP basis, operating expenses for the nine months ended September 30, 2025, were $9.0 million, compared to $11.0 million in the nine months ended September 30, 2024. GAAP financial income, net, for the third quarter ended September 30, 2025, totaled $24,000, compared to $216,000 in the third quarter ended September 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 financial income, net, for the nine months ended September 30, 2025, totaled $51,000, compared to $546,000 in the nine months ended September 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 third quarter ended September 30, 2025, was $3.5 million, or $0.27 basic loss per share, compared to net loss of $4.3 million, or $0.38 basic loss per share, for the third quarter ended September 30, 2024. Non-GAAP net loss for the third quarter ended September 30, 2025, was $3.2 million, or $0.25 loss per share, compared to a net loss of $3.8 million, or $0.33 basic loss per share, for the third quarter ended September 30, 2024. GAAP net loss for the nine months ended September 30, 2025, was $8.3 million, or $0.69 basic loss per share, compared to a net loss of $12.7 million, or $1.11 basic loss per share, for the nine months ended September 30, 2024. Non-GAAP net loss for the nine months ended September 30, 2025, was $7.0 million, or $0.58 loss per share, compared to a net loss of $11.5 million, or $1.00 basic loss per share, for the nine months ended September 30, 2024. Balance Sheet and Cash Flow Cash and cash equivalents as of September 30, 2025, were $8.5 million. Cash used in operating activities during the nine months ended September 30, 2025 was $6.5 million compared to $10.6 million during the nine months ended September 30, 2024. Cash used in investing activities during the nine months ended September 30, 2025, was $12,000 compared to $481,000 during the nine months ended September 30, 2024, and related primarily to a decrease in purchases of property and equipment. Cash provided by financing activities during the nine months ended September 30, 2025 was $3.1 million compared to $9,000 during the nine months ended September 30, 2024. The increase is mainly attributed to our registered direct offering in June 2025, which resulted in net proceeds of $3.1 million. 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 third quarter ended September 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 include, but are not limited to, statements relating to CollPlant's objectives plans and strategies and cash runway, 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: [email protected] Investors: LifeSci Advisors Dan Ferry [email protected] Photo: https://mma.prnewswire.com/media/2832695/CollPlant.jpg View original content to download multimedia:https://www.prnewswire.com/news-releases/collplant-biotechnologies-reports-2025-third-quarter-financial-results-and-provides-corporate-update-302626666.html

CollPlant is now moving towards clinical trials and scaling and optimizing its manufacturing to ensure readiness for the upcoming clinical trials REHOVOT, Israel, Sept. 30, 2025 /PRNewswire/ -- CollPlant Biotechnologies (NASDAQ: CLGN), a regenerative and aesthetic medicine company developing disruptive technologies and products based on its proprietary non-animal recombinant human collagen (rhCollagen), today announced positive results from its non-clinical program evaluating its photocurable dermal filler, as well as plans to advance this product candidate into clinical trials. This novel filler represents a significant breakthrough in aesthetic medicine by uniquely integrating contouring precision, structural support, and tissue regeneration into a single treatment. CollPlant's formulation combines hyaluronic acid with a modified form of rhCollagen to deliver both immediate and long-lasting benefits. Administered as a viscoelastic gel through a fine needle, the filler allows physicians to sculpt precise contours, which are then stabilized using CollPlant's proprietary illumination device. Upon light activation, the gel transitions into a semi-solid, cohesive implant that withstands gravitational and mechanical forces while maintaining the desired shape. "The successful completion of our extensive non-clinical program marks an important milestone for CollPlant allowing us to enter clinical development of our photocurable regenerative filler," said Yehiel Tal, Chief Executive Officer of CollPlant. "By harnessing the unique properties of our rhCollagen technology, we aim to redefine the standard of care in aesthetic medicine with a novel solution that not only delivers immediate contouring and support but also promotes natural tissue integration for long-lasting results. We are excited to advance this product candidate another step towards the clinic and closer to providing physicians and patients with a next-generation alternative." CollPlant's non-clinical program included a comprehensive set of safety and performance evaluations: a one-year, in vivo study confirming long-term durability; biocompatibility assessments demonstrating compliance with international relevant standards. The combined results obtained establish a strong foundation for clinical advancement, and CollPlant is now scaling and optimizing its manufacturing process to ensure readiness for the upcoming clinical trial. About CollPlant CollPlant is a regenerative and aesthetic medicine company ushering in a new era of medical solutions with a focus on 3D bioprinting of tissues and organs, tissue repair 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 within the diverse fields of tissue repair, aesthetics, and organ manufacturing. 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. 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 +972-73-2325600 [email protected] Investors: LifeSci Advisors Dan Ferry [email protected] Photo: https://mma.prnewswire.com/media/2785678/CollPlant.jpg Logo: https://mma.prnewswire.com/media/2217353/CollPlant_Logo.jpg View original content to download multimedia:https://www.prnewswire.com/news-releases/collplant-biotechnologies-announces-positive-results-from-non-clinical-studies-of-its-photocurable-regenerative-dermal-and-soft-tissue-filler-302570620.html

- 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. 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: [email protected] Investors: LifeSci Advisors Dan Ferry [email protected] Photo - https://mma.prnewswire.com/media/2753944/CollPlant.jpg Logo: https://mma.prnewswire.com/media/2217353/CollPlant_Logo.jpg View original content to download multimedia:https://www.prnewswire.com/news-releases/collplant-biotechnologies-reports-2025-second-quarter-financial-results-and-provides-corporate-update-302534476.html SOURCE CollPlant

CollPlant Biotechnologies Ltd (NASDAQ:CLGN) is set to release its Q2 2025 earnings on Aug 20, 2025. The consensus estimate for Q2 2025 revenue is $2.54 million, and the earnings are expected to come in at -$0.14 per share. The full-year 2025 revenue is expected to be $10.60 million, and the earnings are expected to be -$0.31 per share. More detailed estimate data can be found on the Forecast page. Warning! GuruFocus has detected 4 Warning Signs with CLGN. Revenue estimates for CollPlant Biotechnologies Ltd (NASDAQ:CLGN) have declined from $11.50 million to $10.60 million for the full year 2025 and remained flat at $18.00 million for 2026 over the past 90 days. Earnings estimates have decreased from -$0.11 per share to -$0.31 per share for 2025 and from $0.03 per share to $0.01 per share for 2026 over the past 90 days. In the previous quarter of 2025-03-31, CollPlant Biotechnologies Ltd's (NASDAQ:CLGN) actual revenue was $2.06 million, which missed analysts' revenue expectations of $2.65 million by -22.31%. CollPlant Biotechnologies Ltd's (NASDAQ:CLGN) actual earnings were -$0.13 per share, which missed analysts' earnings expectations of -$0.04 per share by -225%. After releasing the results, CollPlant Biotechnologies Ltd (NASDAQ:CLGN) was up by 76.17% in one day. Based on the one-year price targets offered by 1 analyst, the average target price for CollPlant Biotechnologies Ltd (NASDAQ:CLGN) is $12.00, with a high estimate of $12.00 and a low estimate of $12.00. The average target implies an upside of 351.13% from the current price of $2.66. Based on GuruFocus estimates, the estimated GF Value for CollPlant Biotechnologies Ltd (NASDAQ:CLGN) in one year is $11.82, suggesting an upside of 344.36% from the current price of $2.66. Based on the consensus recommendation from 1 brokerage firm, CollPlant Biotechnologies Ltd's (NASDAQ:CLGN) average brokerage recommendation is currently 2.0, indicating an "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus.

- In Q1 following a development achievement, CollPlant received a $2 million payment from AbbVie – - Advancement of regenerative breast implant program continues; encouraging findings continue to be observed -  REHOVOT, Israel, May 28, 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 first quarter of 2025 and provided a corporate update. Yehiel Tal, CollPlant's Chief Executive Officer commented, "While advancing our core programs, we've remained disciplined in optimizing costs and prioritizing initiatives that are designed to support a well-capitalized path forward in the best interest of our shareholders. In line with this strategy, we are investing efforts in pursuing a non-dilutive transaction." Mr. Tal continued, "We are highly encouraged by the promising results from our preclinical studies using commercial-size regenerative implants, and we are continuing follow-up evaluations to build on these findings. This program has the potential to position CollPlant as a leader in the regenerative medicine space. In parallel, we are making steady progress with our photocurable dermal filler candidate, as well as with the dermal filler program currently under development by our partner, AbbVie." First Quarter and Recent Highlights Collaboration Updates AbbVie Collaboration In February 2025, following a key development milestone, CollPlant received a $2 million milestone payment from its partner, AbbVie, pursuant to the existing development and commercialization agreement. Under this agreement, CollPlant granted AbbVie a worldwide exclusive license to use its recombinant human collagen (rhCollagen) technology in combination with AbbVie's proprietary technologies for the development and commercialization of dermal and soft tissue filler products. The dermal filler candidate is currently in the clinical phase, with AbbVie collecting data and reviewing interim results from the first patient cohort enrolled in the trials initiated in 2023. Next steps for the program will be determined by AbbVie following the completion of this assessment. Q1 and Recent Corporate Updates CollPlant's Regenerative Breast Implants: A Potential Paradigm Shift in Aesthetic and Reconstructive Medicine CollPlant is developing next-generation regenerative breast implants composed of its proprietary plant-derived recombinant human collagen (rhCollagen) and other biocompatible biomaterials. These implants are designed to regenerate natural breast tissue without triggering an immune response, potentially offering a transformative alternative for both aesthetic and reconstructive procedures, including postmastectomy reconstruction for cancer patients. In June 2024, CollPlant announced a development milestone, which was the successful 3D bioprinting of 200cc breast implants – which are commercial size - featuring enhanced structural durability. These implants were produced using the Company's proprietary rhCollagen-based bioinks. To date, no commercial solution exists that enables soft tissue regeneration in the breast, positioning CollPlant's platform as a potential breakthrough in this field. As part of the ongoing preclinical studies, the surgical protocol has been refined to allow implantation through a small incision, while minimizing the risk of implant displacement or inversion. Previously, in March 2024, CollPlant reported encouraging results from one study arm following six-months post-implantation. The implants exhibited vascularization, rapid tissue ingrowth, and early-stage biodegradation, while maintaining their original structure and mechanical properties. Notably, no adverse tissue reactions were observed, reinforcing the implant's favorable safety profile. Further analysis of MRI and ultrasound imaging conducted in early 2025 confirmed tissue integration and vascularization, underscoring the importance of this type of imaging tools to support future clinical evaluation. Based on these results, CollPlant plans to continue to optimize the implants for long-term tissue remodeling and durability. The unmet need for safer, regenerative solutions is  indisputable; in the U.S. alone, hundreds of thousands of individuals experience complications from current breast implants—including autoimmune reactions and, in rare cases, breast implant-associated anaplastic large cell lymphoma (BIA-ALCL). CollPlant's regenerative approach represents a bold step toward a potentially safer, more natural, and durable alternative. Photocurable Dermal Filler Program Advancing Toward Clinical Stage CollPlant has made significant progress developing its photocurable dermal filler, which not only supports skin lifting and tissue rejuvenation, but also offers facial contouring capabilities. CollPlant is now completing the preclinical testing phase of the photocurable dermal filler, and, alongside production scale-up activities, is preparing for the initiation of clinical studies. In addition, Jason Bloom, MD, a leading expert in facial plastic and reconstructive surgery, will be speaking  about CollPlant's photocurable dermal filler at The Vegas Cosmetic Surgery Conference 2025 in a presentation titled, "Innovative Regenerative Injectable Implant Based on Photocurable rhCollagen". The presentation will take place on Friday, May 30, 2025 from 12:45-12:55 p.m. PDT. Dr. Bloom brings a wealth of clinical expertise and innovation to the aesthetics field, and is chairing on panels for multiple sessions at the conference with the goal to offer a compelling glimpse into the future of injectable treatments. In February 2025, CollPlant announced the issuance of U.S. Patent No. 12,186,449, covering key aspects of the photocurable dermal filler product candidate. The patent relates to polymerizable formulations composed of modified recombinant human collagen (rhCollagen) and additional components such as hyaluronic acid. The patent provides protection through 2039, further strengthening CollPlant's intellectual property portfolio in regenerative aesthetics. Non-Core Commercial Programs In February 2025, CollPlant announced the expansion of its international distribution network for Vergenix™ STR, a product based on CollPlant's proprietary rhCollagen technology combined with platelet-rich plasma (PRP). VergenixSTR is designed to treat tendinopathy by promoting the healing and repair of tendon injuries in multiple anatomical sites, including the elbow tendon (for "tennis elbow"), rotator cuff, patellar tendon, Achilles tendon, and cases of plantar fasciitis. As part of this expansion, CollPlant has entered into new distribution agreements with partners for commercial sales in the Netherlands, Belgium, Luxembourg (Benelux), Spain, India, and Turkey, broadening the product's reach across key markets in Europe and Asia. Intellectual Property: rhCollagen Curable BioInks Portfolio of Products CollPlant announced in March that the Japan Patent Office (JPO) has granted a second patent on Patent Application no. 2023-101072 securing patent protection on CollPlant's portfolio of rhCollagen curable BioInks in Japan until 2038. This application is related to CollPlant's innovative curable Collink.3D® BioInk pipeline, consisting of the first and only line of human collagen BioInk products based on chemically modified plant-derived rhCollagen that is mass-produced with high purity and consistency. Collink.3D enables the scalable and reproducible biofabrication of tissue models, tissues, and organ transplants, while precisely mimicking the native properties of tissues and organs. Additionally, CollPlant's BioInk products provide the advantage of being animal-free, have optimal rheology properties (pertaining to deformation and flow of matter- both liquids and solids) at room temperature, support high viability of different cell types and are biocompatible and non-immunogenic. 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. Mr. Tal added, "We are pleased to be ahead of the curve related to the direction that medical research is headed, developing alternatives for use in place of traditional animal testing or human-equivalent biomaterials not derived from animal sources which supports the FDA's NAMs as announced this past April. CollPlant's novel rhCollagen and rhCollagen-based Collink.3D portfolio of BioInk products can be used in a wide variety of non-animal testing applications.  What we are doing at CollPlant is revolutionary, and, has taken decades of meticulous research.  We continue to be a pioneer of technologies in this area and hope to be instrumental to enable the application of both alternatives in animal testing and biomaterials." Operational Updates Also in February 2025, CollPlant announced that it had initiated a cost cutting and workforce reduction plan. The allocation of resources resulted in a reduction of workforce by approximately 20%, and, based on current estimates, will allow it to continue its business activities, including those related to its primary research and development programs until at least the second quarter of 2026. First Quarter 2025 Financial Results GAAP revenues for the first quarter ending March 31, 2025, were $2.1 million compared to $98,000 in the first quarter ending March 31, 2024. The increase in revenue is mainly related to a development 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 first quarter ending March 31, 2025, was $188,000, compared to $545,000 for the first quarter ending March 31, 2024. The decrease in the cost of revenues of approximately $357,000 is mainly related to a decrease in inventory impairments in the amount of $322,000. GAAP gross profit for the first quarter ending March 31, 2025, was $1.9 million, compared to a gross loss of $447,000 for the first quarter ending March 31, 2024. GAAP operating expenses for the first quarter ending March 31, 2025, were $3.5 million, compared to $3.9 million, for the first quarter ending March 31, 2024. The decrease of approximately $400,000 is mainly related to (i) the Company's cost reduction plan with: (a) a $202,000 decrease in the workforce expenses, (b) a $147,000 decrease in research and development materials expenses, and (ii) a $112,000 reduction in general and administrative public company expenses. On a non-GAAP basis, the operating expenses for the first quarter ending March 31, 2025 were $3.1 million, compared to $3.6 million for the first quarter ending March 31, 2024. Non-GAAP measures exclude certain non-cash expenses. GAAP financial income, net, for the first quarter ending March 31, 2025, totaled $196,000, compared to $134,000 for the first quarter ending March 31, 2024. The increase in financial income, net, is due to an increase in exchange rate differences. GAAP net loss for the first quarter ending March 31, 2025 was $1.5 million, or $0.13 basic loss per share, compared to a net loss of $4.2 million, or $0.37 basic loss per share, for the first quarter ending March 31, 2024. Non-GAAP net loss for the first quarter ending March 31, 2025, was $1.1 million, or $0.1 basic loss per share, compared to $4.0 million loss, or $0.35 basic loss per share, for the first quarter ending March 31, 2024. Balance Sheet and Cash Flow The Company's cash and cash equivalents balance as of March 31, 2025 was $10.7 million. Net cash used in operating activities was $1.2 million during the first quarter ending March 31, 2025, compared to $3.3 million for the first quarter ending March 31, 2024. Cash used during the first quarter ending March 31, 2025 decreased compared to the same quarter last year, primarily due to revenues of $2 million from AbbVie, following a development achievement in the dermal filler program. Net cash used in investing activities was $8,000 during the first quarter ending March 31, 2025, compared to $82,000 for the first quarter ending March 31, 2024. There was no cash flow from financing activities during the first quarter ending March 31, 2025. Net cash provided by financing activities was $9,000 for the first quarter ending March 31, 2024. Cash provided by financing activities is attributed to proceeds from the exercise of options into shares.                           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 first quarter ended March 31, 2025, are presented in accordance with generally accepted accounting principles in the U.S. About CollPlant CollPlant is a regenerative and aesthetic medicine company ushering in a new era of medical solutions with a focus on 3D bioprinting of tissues and organs, tissue repair 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. 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. Forward-Looking Statements This press release includes forward-looking statements. Forward-looking statements 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, including uncertainties surrounding the methods of fundraising and the Company's preferences regarding such methods, and including its ability to conclude a non-dilutive financing transaction; 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 Company's 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 development plans and projects, 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 RotemDeputy CEO & CFO+ [email protected] Investors:LifeSci AdvisorsDan [email protected] Photo - https://mma.prnewswire.com/media/2697115/CollPlant.jpgLogo - https://mma.prnewswire.com/media/2217353/CollPlant_Logo.jpg   View original content to download multimedia:https://www.prnewswire.com/news-releases/collplant-biotechnologies-reports-2025-first-quarter-financial-results-and-provides-a-corporate-update-302466889.html SOURCE CollPlant