CollPlant Biotechnologies Ltd. Q1 FY2023 earnings call

• CollPlant is developing collagen technology for regenerative medicine, aiming to be a global leader. - Dermal filler program with AbbVie continues, expecting first milestone in 2023; also advancing regenerative breast implant program with positive preclinical results and collaboration with Stratasys for biofabrication. - Gut-on-a-chip program in collaboration with Tel-Aviv University and Sheba Medical Center for drug discovery and personalized medicine. - BioInk commercial portfolio includes Collink.3D-50, -90, and -50L, with partnerships and a proprietary aseptic process for rhCollagen.

For the first quarter ending March 31, 2023, GAAP revenues increased to $433,000 compared to $66,000 in the first quarter of 2022, a significant increase. Cost of revenues was $325,000 in 2023 vs $31,000 in 2022. Gross profit was $108,000 in 2023 vs $35,000 in 2022. Operating expenses in Q1 2023 were $3.5 million vs $3.8 million in 2022; non-GAAP operating expenses were $3.1 million, a 9% reduction from $3.4 million in 2022. GAAP net loss was $3.7 million in 2023 vs $3.9 million in 2022. Cash, cash equivalents, and short-term deposits as of March 31, 2023, were $26.5 million.

• AbbVie expected to achieve first milestone in 2023 for the dermal filler program. - Plan to initiate second large animal study for regenerative breast implants in the second half of 2023. - Advance gut-on-a-chip tissue model to have proof-of-concept by end of 2024. - Expand commercial portfolio of BioInks and form new collaborations with industry leaders.

No specific risks detailed in the provided transcript

Q: Ben Haynor asked about the Stratasys agreement and its relation to the second large animal study and cross promotion.

A: Yehiel Tal elaborated on the collaboration with Stratasys for biofabrication, plans to use the printer in large animal studies, and cross promotion working through preferential development and promotion of each other's products.

Q: Swayampakula Ramakanth inquired about the gut-on-a-chip program and BioInks.

A: Yehiel Tal discussed the roadmap for the gut-on-a-chip program, aiming for proof-of-concept by end of 2024, and the strategy of providing building blocks for BioInks with positive feedback from academia.