Celularity Releases CEO Letter To Shareholders; Says Full Year 2023, We Expect Net Sales Percentage Growth In The Range Of 22.7%-26.6% YoY
Portfolio Pulse from Benzinga Newsdesk
Celularity Inc. (NASDAQ:CELU) released a Letter to Shareholders from CEO Robert J. Hariri, outlining the company's performance and expectations. The company anticipates net sales growth of 22.7%-26.6% YoY for the full year 2023. It achieved significant growth in Q4 2023 for its biomaterial products and biobanking businesses and expects to maintain this momentum into 2024. Celularity also closed two financing transactions totaling $21 million and is engaged in a multi-year research collaboration with Regeneron Pharmaceuticals. Despite market challenges, the CEO remains committed to the company's success in the regenerative medicine and longevity markets.
January 18, 2024 | 6:42 pm
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Celularity Inc. expects significant net sales growth for FY 2023 and has secured $21 million in financing. The company is also collaborating with Regeneron Pharmaceuticals on cell therapy research.
The positive sales growth outlook and successful financing indicate a strong financial position for Celularity, which is likely to be viewed favorably by investors. The collaboration with Regeneron Pharmaceuticals could also enhance the company's credibility and future revenue potential, potentially leading to a short-term positive impact on the stock price.
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