Financial

News to Watch: CollPlant Biotechnologies Ltd. (NASDAQ:CLGN)

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CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) spotted trading -37.59% off 52-week high price. On the other end, the stock has been noted 142.13% away from the low price over the last 52-weeks. The stock changed -0.22% to recent value of $9.08. The stock transacted 1995 shares during most recent day however it has an average volume of 6.87K shares. The company has 6.57M of outstanding shares and 3.08M shares were floated in the market.

On Sept. 14, 2020, CollPlant Biotechnologies Ltd. (NASDAQ:CLGN) disclosed that it has signed an agreement for distribution of its Vergenix™ Flowable Gel (FG) product in six Commonwealth of Independent States (CIS) countries: Belarus, Kazakhstan, Georgia, Azerbaijan, Armenia and Uzbekistan.

The Company also reported that it has received the first order in an amount of hundreds of thousands of U.S. dollars. Based on deal terms, CollPlant will deliver a portion of the order immediately and the remainder over the next six months. The distributor is a Swiss-headquartered pharmaceutical group of companies and the agreement is for a five-year period.

This distribution agreement will enable new patient populations in the CIS to benefit from Vergenix™ FG use, which has also already elicited positive feedback in Europe for rapid recovery of chronic wounds, said Yehiel Tal, CEO of CollPlant. We are proud of the transformative potential of our recombinant human collagen platform technology that facilitates optimal treatment options for patients and remain open to additional collaborations that will bolster commercial infrastructure for Vergenix™ FG as well as support for our pipeline development efforts.  At the same time, we continue to strategically focus on innovative applications of our rhCollagen in medical aesthetics and 3D Bioprinting of organs and tissues.

Its earnings per share (EPS) expected to touch remained 178.30% for this year.

The price moved ahead of 0.34% from the mean of 20 days, -0.68% from mean of 50 days SMA and performed -3.37% from mean of 200 days price. Company’s performance for the week was -0.77%, -1.52% for month and YTD performance remained 59.30%.

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