Dawson James ups CollPlant PT to $15 from $9

Dawson James Securities raised its price target for CollPlant Biotechnologies (NASDAQ:CLGN) to $15 from $9, reflecting an “increase in valuation, which translates into less dilution in terms of our assumptions around future capital raises.” The stock closed at $10.85 on Jan. 24.

Analyst Jason Kolbert writes that he met with CollPlant management last week. Three developments were highlighted including a possible expansion – partnership in aesthetic medicine and a joint development signing with 3D Systems. CollPlant also joined the Advanced Regenerative Manufacturing Institute. 

Mr. Kolbert said CollPlant differentiates itself through its genetically engineered tobacco-based rhCollagen production platform, which is currently the only commercially viable plant-derived human collagen on the market. 

Tobacco is used as the production platform because it is both an easy crop to grow and able to be genetically manipulated. “CollPlant’s plant-derived rhCollagen has been demonstrated to heal tissue faster, has faster human cell proliferation, superior homogeneity, and an improved safety profile with greater purity,” he added. Using a plant-based product reduces the risk of complications, such as rejection by the patient or infection. 

Mr. Kolbert said CollPlant’s production pipeline revolves around the treatment of organ and tissue failure through 3D bioprinting, aesthetic medicine, orthobiologics, and advanced wound care. 

CollPlant also has two products, Vergenix STR and Vergenix FG, being commercialized in Europe and is developing other collaborations with its bio-inks and medical aesthetics products. 


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