CollPlant Biotechnologies Ltd. Q1 FY2024 earnings call

• Collaborations with AbbVie: Thermal filler in clinical phase, regenerative breast implant in preclinical; $10M payment from AbbVie triggered by milestone. Patents granted for photocurable dermal filler. - Regenerative breast implant program: Comprised of proprietary RH collagen and biomaterials, designed for tissue regeneration and synchronized degradation; large animal studies ongoing with results expected in Q4 2024 and Q1 2025. - ESG initiatives: Inaugural ESG report planned, focusing on climate action, energy efficiency, health & safety, sustainable sourcing.

GAAP revenues for the first quarter ended March 31st, 2024 were $98,000, a decrease from $433,000 in the first quarter of 2023. GAAP cost of revenue for Q1 2024 was $545,000 compared to $325,000 in Q1 2023. GAAP operating expenses for Q1 2024 were $3.9 million vs $3.6 million in Q1 2023. Non-GAAP operating expenses for Q1 2024 were $3.6 million vs $3.1 million in Q1 2023. GAAP net loss for Q1 2024 was $4.2 million. Cash and cash equivalents as of March 31st, 2024 were $23.2 million.

• Focus on advancing AbbVie partnership for dermal filler program. - Expand large animal studies for commercial size breast implants to generate safety/efficacy data for future clinical studies and commercialization. - Continue collaborations with industry leaders for utilizing Collagen and Biotechnologies.

• Statements made include forward-looking statements subject to various risks, uncertainties, and factors set forth in CollPlant’s SEC filings, such as those affecting actual events or results differing from forward-looking statements.

Q: Do you have a timeline for publication of the data from the large animal trials initiated in December and what sort of data should we expect?

A: We plan to report in Q4 2024 and Q1 2025, including new tissue formation, angiogenesis, no foreign body response, quality of newly formed fat tissue, and optimized surgical protocol.

Q: How different would the pivotal large animal study be from the current work and does FDA require long-term safety metrics?

A: Current studies assemble info for submission package to FDA; no draft guidance exists, so we're setting standards. We'll submit a draft guidance and collect data for safety and efficacy.

Q: What's the timeline for next major milestone payment from AbbVie and data publication from them?

A: We can't disclose specific timelines or next milestones as it's confidential.

Q: Does the cash runway include future partnership revenue and what's the quarterly cash burn expectation?

A: Cash runway doesn't include potential partnership revenue. Quarterly burn rates aren't linear; we monitor cash use carefully, with varying expenses based on activities like large animal studies.