AUS
NZ
UK
CA
USA
IND
Summary
- 3D Systems to develop 3D soft tissue matrix for breast reconstruction procedures.
- The stock of 3D Systems gained 249% YTD.
- It reported revenue of US$146.1 million in Q1 of 2021.
The stock of 3D Systems (NYSE:DDD) was trending after it secured a deal to jointly develop 3D bio-printed soft tissue for breast implants with CollPlant Biotechnologies (NASDAQ:CLGN).
DDD surged 27% to US$36.87 after the announcement on June 22. It was priced at US$36.67 at 8 am ET in the premarket session on June 23, down 0.62% from the previous close.
Source: Pixabay.
3D Systems and CollPlant on June 22 announced that they will jointly develop a 3D bio-printed regenerative soft tissue matrix to be used in breast reconstruction procedures.
The tissue will be used in the lower portion of the breast while expanding the implant pocket to provide increased coverage of the transplant. 3D bio-printing will be used to design the matrix, matching the patient’s anatomy to support the breast implant.
Also read: Why is 23andMe stock trending?
Why 3D bio-printed soft tissues are beneficial?
According to the World Health Organisation (WHO), 2.3 million women were diagnosed with breast cancer in 2020. Ninety percent of them recovered after treatment. Soft tissue matrices are currently used from cadavers or animal organs, although there is an increased need for improved options for breast reconstruction.
Also read: Novan Inc. & Senseonic Inc: Two Trending Healthcare Stocks
What DDD does?
DDD designs, manufactures, and sells 3D printers, 3D printing materials, 3D scanners, and offers 3D scanners services. Technologies developed by DDD are used in many industries like healthcare, aerospace, dental, durable goods, and entertainment.
The stock gained 249.88% YTD. Its market capitalization is US$4.6 billion.
It reported revenue of US$146.1 million in Q1, 2021, which ended March 31, which was an increase of 7.7% YoY. Its gross margin was 44% compared to 16.6% YoY.
Also read: Why did Novavax jump 10% in pre-market trading today?
Earnings per diluted share were US$0.36 compared to a loss of US$0.17 in Q1 of 2020. Operating cash flow was US$28.5 million.
3D Systems earlier this month had launched a new material called Accura Compsite PIV to be used for motorsports wind tunnel testing. The company developed this material along with the Alpine F1 team.
CollPlant is into regenerative and aesthetic medicine with a focus on 3D bio-printing of organs, tissues, and medical aesthetics.
Also read: Three healthcare penny stocks to explore
