Celularity Announces Net Sales Trending Ahead of Expectations for First Quarter 2024; Implements Planned 2024 SG&A Reductions and Manufacturing Ramp for Advanced Biomaterial Products
FLORHAM PARK, N.J., April 15, 2024 (GLOBE NEWSWIRE) -- Celularity Inc. (NASDAQ: CELU) (“Celularity”) a regenerative medicine company developing placental-derived allogeneic cell therapies and advanced biomaterial products, today announced that its expected net sales for the first quarter of 2024 are trending ahead of the expectations it announced in February for its advanced biomaterial products and biobanking businesses.
- Celularity’s predecessor company was an early innovator in the field of placental-derived biomaterials, and today we continue to develop innovative, next-generation products in this technology.
- Under the plan implemented, senior executives are foregoing a portion of their 2024 cash salary as well as payment in cash of any performance bonus payable in 2024.
- Celularity’s advanced biomaterial product pipeline consists of four commercial-stage products and three investigational products.
- Interfyl®, a decellularized human placental connective tissue matrix designed for use to replace or supplement damaged or inadequate integumental tissue.