Celularity Provides Corporate Update; Says The Acquisition Of Rebound Adds To Our Portfolio Of Placental-Derived Advanced Biomaterial Products, Sales Of Which Through The First Half Of 2024 Were In Excess Of $24M; Guidance Of Expected Combined Net Sales Of Our Advanced Biomaterial Product And Biobanking Businesses To Be In The Range Of $50M-$56M
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Celularity Inc. (NASDAQ:CELU) has provided a corporate update, highlighting the acquisition of Rebound, a placental-derived product, and its impact on their portfolio. The company reported sales of over $24 million for the first half of 2024 and expects combined net sales of $50M-$56M. Celularity is working to regain Nasdaq compliance and plans to submit FDA notifications for new products in 2025-2026.
October 22, 2024 | 12:33 pm
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Celularity's acquisition of Rebound enhances its biomaterial product portfolio, contributing to sales exceeding $24M in H1 2024. The company expects $50M-$56M in net sales and is working on Nasdaq compliance and FDA submissions for new products.
The acquisition of Rebound and the strong sales figures indicate positive growth for Celularity. The company's focus on compliance and future FDA submissions suggests a proactive approach to business expansion, likely boosting investor confidence.
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