Celularity Announces Net Sales Expectations for First Quarter 2024 and Full Year 2024, Reiterates Advanced Biomaterial Product Commercial and Development Pipeline

Continuing the substantial growth trajectory that began during 2023, for the first quarter 2024 and the full year 2024, Celularity expects triple-digit percentage increases in combined net sales of its advanced biomaterial product and biobanking businesses compared to the first quarter 2023 and the full year 2023.

As previously disclosed, Celularity’s advanced biomaterial product commercial pipeline consists of four products which it currently markets commercially in the U.S. primarily under its own brands, and its development pipeline includes two product candidates for which it expects to submit 510(k) notifications in the second half of 2024 and the first half of 2025, respectively.

FLORHAM PARK, N.J., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Celularity Inc. (Nasdaq: CELU) (the “Company”) a biotechnology company developing allogeneic cell therapies and advanced biomaterial products, today announced expected net sales of its biomaterial products and biobanking businesses for the first quarter 2024 and the full year 2024, respectively, and reiterated its previously disclosed advanced biomaterial product commercial and development pipeline. As used here, “net sales” refers exclusively to revenue from the sale of advanced biomaterial products and biobanking services, respectively, and does not include any revenue from other sources such as license fees and royalties or revenue earned under research collaboration agreements.

For the first quarter 2024, the Company expects combined net sales of its advanced biomaterial product and biobanking businesses to be in the range of $10.25 million to $11.5 million, consisting of expected net sales for its advanced biomaterial product business in the range of $9.0 million to $10.0 million and expected net sales for its biobanking business in the range of $1.37 million to $1.50 million. For the first quarter 2024, the Company expects net sales percentage growth for its advanced biomaterial product business to be in the range of 249% to 287% and net sales percentage growth of its biobanking business to be in the low single to low double-digit range, both compared to the first quarter 2023.

For the full year 2024, the Company expects combined net sales of its advanced biomaterial product and biobanking businesses to be in the range of $50 million to $56 million, consisting of expected net sales of its advanced biomaterial product business in the range of $45.0 million to $50.0 million and expected net sales of its biobanking business in the range of $5.5 million to $6.0 million. For the full year 2024, the Company expects net sales percentage growth of its advanced biomaterial product business to be in the range of 165% to 194% and net sales percentage growth of its biobanking business to be in the in the single digit range, both compared to full year 2023.