Analyst Summary:
Histogen Inc. has reported its financial results for the year ended December 31, 2022. The company has made progress in its pipeline and other corporate developments. The CEO, Steven J. Mento, Ph.D., expressed excitement regarding the company's new direction. Histogen has started its clinical development activities for the treatment of acute bacterial skin infections, including those related to MRSA, in the first half of 2023.
Moreover, the company has appointed Alfred P. Spada, Ph.D., as the new Chief Scientific Officer. Histogen aims to develop its preclinical product candidates, CTS-2090 and CTS-2096, for the treatment of certain inflammatory diseases. In terms of financials, Histogen has reported a product revenue of $5.8 million for the year ended December 31, 2021, due to a one-time sale of CCM to Allergan, unrelated to the Allergan Agreements.
The company is optimistic but acknowledges the potential risks and uncertainties involved in achieving its goals, mentioning risks associated with regulatory approvals, availability of funding, and the impact of any litigation proceedings. Histogen disclaims any intention or obligation to update or revise its forward-looking statements other than as required by law.