Celularity Expands Advanced Biomaterial Product Commercial Portfolio with Acquisition of Rebound™ Product from Sequence LifeScience, Inc.
Acquisition Announcement: Celularity Inc. has expanded its commercial portfolio by acquiring Rebound, a placental-derived allograft matrix product, which is expected to significantly contribute to their biomaterial sales in the fourth quarter of 2024.
Market Positioning: The addition of Rebound enhances Celularity's offerings in wound care and soft tissue repair, reinforcing its leadership in the regenerative medicine market with innovative placental-derived products aimed at addressing unmet medical needs.
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Celularity Announces Chief Financial Officer Transition
CFO Termination: Celularity Inc. has terminated its Chief Financial Officer, David Beers, effective immediately, without cause, and appointed Joseph DosSantos as interim CFO while searching for a permanent replacement.
Interim Support: The company has engaged the CFO Squad to provide financial reporting support and consulting services during this transition period to enhance its financial processes and systems.
Celularity Announces Full Year 2024 Operating and Financial Results
Financial Performance: Celularity Inc. reported a significant increase in net revenues for 2024, totaling $54.2 million, which is a 138.1% rise compared to the previous year, primarily driven by strong sales of their Biovance® product line in wound care applications.
Operational Highlights: The company experienced a notable decrease in operating expenses by 57%, leading to a reduced loss from operations of $38.4 million, as they continue to innovate and expand their portfolio of advanced biomaterial products.
MASS Coalition Welcomes Trump Order Freezing Skin Substitute LCDs
Trump's Freeze Order on Skin Substitute LCDs: President Trump's recent order freezes Medicare Local Coverage Determinations (LCDs) regarding skin substitutes, allowing for further evaluation and public comment until at least April 13, 2025, which benefits patients with diabetic foot ulcers and venous leg ulcers.
MASS Coalition's Response: The MASS Coalition commends the freeze as a necessary step to prevent a healthcare crisis for diabetics, criticizing previous regulatory actions that lacked stakeholder consultation and threatened patient access to essential treatments.
Celularity Inc. Announces Resolution of Nasdaq Listing Compliance Matter
Compliance with Nasdaq: Celularity Inc. has regained compliance with Nasdaq Listing Rule 5250(c)(1) after filing its Quarterly Report for the period ended September 30, 2024, resolving previous filing delays and ensuring its stock remains listed on the Nasdaq Capital Market.
Future Growth Commitment: The company emphasizes its commitment to regulatory compliance and transparency, highlighting improvements in financial reporting processes and its mission to develop transformative therapies using placental-derived cell technologies.
Celularity Reports Over Sevenfold Growth in Net Product Sales through Third Quarter 2024 Compared to Third Quarter 2023
Celularity's Financial Performance: Celularity Inc. reported significant revenue growth in its quarterly report for the period ending September 30, 2024, with total net revenues of $36.1 million for nine months, a 238.6% increase from the previous year, and $9.3 million for three months, a 145.5% increase.
Compliance with Nasdaq Requirements: The company has filed its Quarterly Report on Form 10-Q, ensuring compliance with Nasdaq listing requirements after previously being notified of non-compliance due to late filing.
Celularity Inc. Announces Receipt of Nasdaq Notification
Compliance Notification: Celularity Inc. received a notification from Nasdaq regarding non-compliance with listing requirements due to the late filing of its Q3 Form 10-Q, which must be addressed by January 20, 2025.
Commitment to Improvement: The company is focused on enhancing its financial reporting processes and aims to submit a compliance plan while expressing confidence in completing the delayed filings shortly.
Celularity Announces Chief Financial Officer Transition
CFO Termination: Celularity Inc. has terminated its Chief Financial Officer, David Beers, effective immediately, without cause, and appointed Joseph DosSantos as interim CFO while searching for a permanent replacement.
Interim Support: The company has engaged the CFO Squad to provide financial reporting support and consulting services during this transition period to enhance its financial processes and systems.
Celularity Announces Full Year 2024 Operating and Financial Results
Financial Performance: Celularity Inc. reported a significant increase in net revenues for 2024, totaling $54.2 million, which is a 138.1% rise compared to the previous year, primarily driven by strong sales of their Biovance® product line in wound care applications.
Operational Highlights: The company experienced a notable decrease in operating expenses by 57%, leading to a reduced loss from operations of $38.4 million, as they continue to innovate and expand their portfolio of advanced biomaterial products.
MASS Coalition Welcomes Trump Order Freezing Skin Substitute LCDs
Trump's Freeze Order on Skin Substitute LCDs: President Trump's recent order freezes Medicare Local Coverage Determinations (LCDs) regarding skin substitutes, allowing for further evaluation and public comment until at least April 13, 2025, which benefits patients with diabetic foot ulcers and venous leg ulcers.
MASS Coalition's Response: The MASS Coalition commends the freeze as a necessary step to prevent a healthcare crisis for diabetics, criticizing previous regulatory actions that lacked stakeholder consultation and threatened patient access to essential treatments.
Celularity Inc. Announces Resolution of Nasdaq Listing Compliance Matter
Compliance with Nasdaq: Celularity Inc. has regained compliance with Nasdaq Listing Rule 5250(c)(1) after filing its Quarterly Report for the period ended September 30, 2024, resolving previous filing delays and ensuring its stock remains listed on the Nasdaq Capital Market.
Future Growth Commitment: The company emphasizes its commitment to regulatory compliance and transparency, highlighting improvements in financial reporting processes and its mission to develop transformative therapies using placental-derived cell technologies.
Celularity Reports Over Sevenfold Growth in Net Product Sales through Third Quarter 2024 Compared to Third Quarter 2023
Celularity's Financial Performance: Celularity Inc. reported significant revenue growth in its quarterly report for the period ending September 30, 2024, with total net revenues of $36.1 million for nine months, a 238.6% increase from the previous year, and $9.3 million for three months, a 145.5% increase.
Compliance with Nasdaq Requirements: The company has filed its Quarterly Report on Form 10-Q, ensuring compliance with Nasdaq listing requirements after previously being notified of non-compliance due to late filing.
Celularity Inc. Announces Receipt of Nasdaq Notification
Compliance Notification: Celularity Inc. received a notification from Nasdaq regarding non-compliance with listing requirements due to the late filing of its Q3 Form 10-Q, which must be addressed by January 20, 2025.
Commitment to Improvement: The company is focused on enhancing its financial reporting processes and aims to submit a compliance plan while expressing confidence in completing the delayed filings shortly.
