Earnings ·
Elutia reports Q3 net loss of $1.3M, adds $26M in capital to fund NXT-41x FDA submission
ELUTElutia Inc.
Elutia Inc. reported a third-quarter net loss of $1.3 million on net sales of $1.1 million, driven by increased research and development expenses for its NXT-41x program. The company secured $26 million in new capital through the sale of its SimpliDerm business, a Boston Scientific holdback release, and an Avenue Capital loan facility, extending its cash runway through the anticipated commercial launch of NXT-41x in 2028. Elutia plans to submit NXT-41x for FDA approval in the fourth quarter following positive preclinical data showing complete eradication of MRSA and E. coli challenges. The company operates as a drug delivery developer focused on preventing surgical infections.