Elutia Issues Shares to Ligand, Amends SWK Loan, and Reports 84% Sequential EluPro Growth

ELUTIA INC.

2025-Q1 EPS reported -$0.21 revenue$6,030,000

Issued 1,105,528 shares to Ligand Pharmaceuticals to satisfy $2.2 million in royalty obligations.
Amended SWK credit facility allowing full PIK interest in May 2025 and potential $5.0 million additional term loan.
Reported Q1 2025 net sales of $6.0 million; BioEnvelope sales up 31% year-over-year to $3.1 million driven by 84% sequential EluPro growth.
Entered partnership with Boston Scientific expected to accelerate EluPro adoption starting Q2 2025.
Cash balance of $17.4 million as of March 31, 2025; raised $15.0 million in gross proceeds from direct offering.

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