Cellularity reports strong growth in biomaterials sales

FLORHAM PARK, N.J. – Celularity Inc. (Nasdaq: CELU), a biotechnology company specializing in allogeneic cell therapies and biomaterials products, expects its biopharmaceuticals for the fourth quarter and full year 2023. Sales will increase significantly in the Materials and Bank Biologics businesses. The company expects fourth-quarter net sales to range from $11.4 million to $12.1 million, an increase of 193.0% from 176.1% in the same period last year. Full-year net income is expected to be between US$22.06 million and US$22.76 million, an increase of 22.7% to 26.6% compared with 2022.

Dr. Robert J. Hariri, chairman, CEO and founder of Celularity, expressed optimism about revenue growth from the company’s commercial-stage products and services. He emphasized that this success reflects the company’s unique business model that addresses a variety of clinical needs, including wound healing and orthopedics.

Despite the financial challenges facing the cellular medicine space in 2023, Celularity remains committed to maximizing access to capital through revenue generated from biomaterials products, technology operations and cell banking expertise. The company is preparing to provide upcoming 2024 revenue guidance for its entire business.

The company expects to release actual net income figures and total revenue for the fourth quarter and full year 2023 at the end of the year. Figures presented do not take into account revenue from other sources, such as a multi-year collaborative research services agreement with Regeneron.

The information in this article is based on a press release from Celularity Inc. and contain forward-looking statements regarding the Company’s financial performance and capital strategies.

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