Bond.az - Elutia Inc. (NASDAQ:ELUT) reported first quarter 2026 financial results and provided updates on its drug-eluting biomatrix product development.
Net sales were $3.1 million for the quarter, compared to $3.0 million in the same period of 2025. SimpliDerm sales declined to $2.1 million, while Cardiovascular product sales increased to $1.0 million.
Elutia reported a net loss from continuing operations of $7.9 million, compared to a loss of $1.9 million in the prior year, primarily due to a $6.7 million unfavorable swing in other expense.
The FDA 510(k) submission for NXT-41 is under review with anticipated clearance in Q4 2026. Clearance for NXT-41x is expected in the first half of 2027.
Elutia brought an automated manufacturing process online, expected to support a gross margin exceeding 80%.
The company held $28.5 million in cash and expects an additional $8.0 million from escrow. With a market cap of $46.4 million and a stock price of $1.04, shares have delivered a 52% return year-to-date.
Elutia is exploring a divestiture of its SimpliDerm product line and has received inquiries regarding its Cardiovascular product line.
