Celularity Announces Net Sales and Total Revenue Expectations for Fourth Quarter 2023 and Full Year 2023

Celularity expects net sales of its biomaterial products and biobanking businesses to be in the range of $11.4 million to $12.1 million for the fourth quarter 2023 and $22.06 million to $22.76 million for the full year 2023 reflecting triple-digit increases compared to the fourth quarter 2022 and full year 2022, respectively. These numbers do not include revenue from other sources, including research contracts such as the Company’s previously announced multi-year research collaboration services agreement with Regeneron.

FLORHAM PARK, N.J., Jan. 03, 2024 (GLOBE NEWSWIRE) -- Celularity Inc. (Nasdaq: CELU) (the “Company), a biotechnology company developing allogeneic cell therapies and biomaterial products, today announced expected net sales of its advance biomaterial products and biobanking businesses for the fourth quarter 2023 and the full year 2023 and expected total revenue for the fourth quarter 2023 and the full year 2023.

For the fourth quarter 2023, the Company expects net sales of its biomaterial products and biobanking businesses to be in the range of $11.4 million to $12.1 million and the net sales percentage growth to be in the range of 176.1% to 193.0% compared to the fourth quarter 2022.

For the full year 2023, the Company expects net sales of its biomaterial products and biobanking businesses to be in the range of $22.06 million to $22.76 million and the net sales percentage growth to be in the range of 22.7% to 26.6% compared to the full year 2022.

The Company anticipates that it will announce actual net sales and actual total revenue for the fourth quarter of 2023 and the full year of 2023 later this year.

“We are particularly encouraged by the growth in net revenues from our commercial-stage products and services as a testament to our unique business model, which produces both cellular and regenerative tools for several clinical indications such as wound healing and orthopedics. Considering the financial challenges experienced in the cellular medicine sector in 2023, the Company is working to maximize access to capital through cash flow from our manufactured biomaterial products, technical operations expertise, and cell banking activities. Based on the growth of this part of our business, we anticipate being able to provide revenue guidance across our entire business for 2024 in the very near future,” said Robert J. Hariri, M.D., Ph.D., Chairman, Chief Executive Officer, and founder.