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CLGN-News
CLGN-Events
CollPlant Announces 1-for-10 Reverse Stock Split
CollPlant Biotechnologies announced that its Board of Directors has approved a one-for-ten reverse share split of the Company's ordinary shares. The reverse share split is scheduled to take effect when the Nasdaq Capital Market opens on September 4 at which point the Company's ordinary shares will begin trading on a split-adjusted basis under the existing ticker symbol "CLGN". The Board's decision follows shareholder approval granted at the Extraordinary General Meeting of Shareholders held on August 18, 2026. The reverse split is being implemented as part of the Company's strategic plan to regain compliance with the Nasdaq minimum bid price requirement for continued listing. The new CUSIP number for the ordinary shares will be M2R51X124.
CollPlant Signs Definitive Agreement to Acquire LightSolver
CollPlant Biotechnologies announced that it has signed a definitive agreement to acquire LightSolver. The acquisition is expected to close this week. LightSolver has developed the Laser Processing Unit, an all-optical working computing platform that uses the physical interaction of lasers to perform computation.
CollPlant Biotechnologies Announces Private Placement of 7,647,061 Shares
CollPlant Biotechnologies announced that it has entered into a definitive agreement for the issuance and sale of an aggregate of 7,647,061 of the company's ordinary shares, unregistered series A warrants to purchase up to 7,647,061 ordinary shares and unregistered series B warrants to purchase up to 15,294,122 ordinary shares, in a private placement at a combined purchase price of 34c per ordinary share and accompanying warrants. The series A warrants will have an exercise price of 34c per share, will be exercisable on the date of shareholder approval and will expire two years after the effective date of a registration statement registering the shares issuable upon exercise of the warrants. The series B warrants will have an exercise price of 34c per share, will be exercisable on the Shareholder Approval Date and will expire five years after the effective date of a registration statement registering the shares issuable upon exercise of the warrants. The private placement is expected to close on or about July 1. H.C. Wainwright & Co. is acting as the exclusive placement agent for the private placement.
CollPlant Terminates Development Agreement with AbbVie, Looks Ahead to 2026
The company said, "This morning, we announced the termination of our development agreement with AbbVie. While this represents the close of an important chapter, we see it as the beginning of an even more promising journey. I'd like to share our vision for what lies ahead for CollPlant in 2026. As noted, Allergan Industrie SAS, an AbbVie company, notified us that it was exercising its right to terminate the development agreement, previously entered into in February 2021, upon 60 days' advance notice. During the prior five years, AbbVie was developing a dermal and soft tissue filler product for commercialization in the medical aesthetics market, using the Company's rhCollagen technology. We view this development as an opportunity, and we are moving forward with confidence. Interest in CollPlant's collagen technology remains strong and we are actively pursuing entering into agreements with new partners, across all types of aesthetic products, including for dermal and soft tissue filler products. The market opportunity before us is significant, and we intend to capture it. Over the past few months, we have engaged with several leading strategic partners and Tier 1 corporations to explore potential joint development opportunities, primarily in the aesthetics sector. These collaborations focus on dermal filler products incorporating CollPlant's technology, hyaluronic acid, and other key components. While these discussions naturally take time, we are actively working to accelerate the process and, while there is no guarantee, are optimistic about reaching a definitive agreement in the coming months."
Company Plans to Cut Workforce by Approximately 50% to Optimize Costs
The company said, "To ensure we are well positioned for the road ahead, we have updated our expense forecast and are implementing a cost-reduction and workforce optimization plan. As part of this initiative, we are in the process of reducing our workforce by approximately 50%. We are confident these measures will sharpen our focus and believe this will extend our cash runway into Q4 2026, positioning us to achieve our next key milestones from a position of strength. As we move forward, we are building on a strong foundation, with three core programs - regenerative dermal and soft tissue fillers, regenerative breast implants, and rhCollagen bioinks for 3D bioprinting of tissues and organs - that we believe have the potential to drive meaningful growth and value creation in the years ahead."
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