CollPlant Biotechnologies (CLGN), a regenerative and aesthetics medicine company, reported Thursday that its fiscal 2023 net loss narrowed to $7.0 million or $0.62 basic loss per share from last year's net loss of $16.9 million or $1.53 basic loss per share.
Adjusted net loss for the year was $5.2 million, or $0.46 basic loss per share, compared to $15.2 million loss, or $1.37 basic loss per share a year ago.
Revenues were $11.0 million, including revenues mainly from AbbVie, CollPlant's business partner, compared to $299,000 for the year 2022. The increase was mainly related to the achievement of a milestone under the AbbVie Agreement, which triggered a $10.0 million payment and a $600,000 increase in sales of rhCollagen products.
Gross profit for the year was $9.0 million, compared to gross loss of $101,000 in 2022.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.