CollPlant Biotechnologies (NASDAQ:CLGN) traded lower in premarket action on Wednesday after reporting third-quarter revenue of $77,000—well below the analyst consensus of $2.76 million.
The stock dipped 0.89% following the announcement.
The regenerative medicine company posted an adjusted loss of $0.25 per share, missing expectations for earnings of $0.16 per share. While revenue improved from just $4,000 in the same quarter a year ago—thanks largely to increased sales of its rhCollagen-based products—it still fell sharply short of market forecasts.
On a GAAP basis, CollPlant recorded a net loss of $3.5 million, narrowing from the $4.3 million loss reported in last year’s third quarter. The company closed the period with $8.5 million in cash and cash equivalents.
“CollPlant continued to advance innovation this quarter beyond its core development programs,” said Yehiel Tal, CollPlant’s Chief Executive Officer. “These achievements highlight the expanding role of our rhCollagen platform in enabling non-animal alternatives for medical, pharmaceutical, and consumer research.”
The company recently introduced a cost-reduction plan that includes cutting roughly 25% of its workforce. Going forward, CollPlant will place greater emphasis on its dermal filler collaboration with AbbVie and seek a strategic partner for its regenerative breast implant initiative.
To expand its footprint in North America, CollPlant is also setting up a U.S.-based logistics facility, expected to come online this quarter, which will support cGMP-compliant storage and distribution of its rhCollagen and BioInk product lines.
The AbbVie partnership remains a central pillar of the company’s strategy. CollPlant received a $2 million milestone payment in February 2025, and its lead dermal filler candidate is now in the clinical phase, with AbbVie currently reviewing interim study results.