CollPlant Biotechnologies (CLGN) 6-K 20 Aug 24 Collplant Biotechnologies Reports 2024 Second Quarter Financial Results and Provides Corporate Update Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jun. 30, 2024
Document Information Line Items
Entity Registrant Name	CollPlant Biotechnologies Ltd.
Document Type	6-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001631487
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity File Number	001-38370

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 18,920	$ 26,674
Restricted deposit	236	241
Trade receivables, net	250
Inventories	439	714
Other accounts receivable and prepaid expenses	490	393
Total current assets	20,335	28,022
Non-current assets:
Restricted deposit	113	57
Operating lease right-of-use assets	3,398	3,070
Property and equipment, net	2,561	2,789
Intangible assets, net	159	188
Total non-current assets	6,231	6,104
Total assets	26,566	34,126
Current liabilities:
Trade payables	1,138	980
Operating lease liabilities	789	624
Accrued liabilities and other	1,314	1,647
Total current liabilities	3,241	3,251
Non-current liabilities:
Operating lease liabilities	2,596	2,535
Total non-current liabilities	2,596	2,535
Total liabilities	5,837	5,786
Commitments and contingencies
Shareholders’ Equity:
Ordinary shares, NIS 1.5 par value - authorized: 30,000,000 ordinary shares as of June 30, 2024 (unaudited) and December 31, 2023; issued and outstanding: 11,454,512 and 11,452,672 ordinary shares as of June 30, 2024 (unaudited) and December 31, 2023, respectively	4,983	4,982
Additional paid in capital	121,861	121,068
Accumulated other comprehensive loss	(969)	(969)
Accumulated deficit	(105,146)	(96,741)
Total shareholders’ equity	20,729	28,340
Total liabilities and shareholders’ equity	$ 26,566	$ 34,126

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - ₪ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Ordinary shares par value (in New Shekels per share)	₪ 1.5	₪ 1.5
Ordinary shares, shares authorized	30,000,000	30,000,000
Ordinary shares, shares issued	11,454,512	11,452,672
Ordinary shares, shares outstanding	11,454,512	11,452,672

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues	$ 249	$ 10,184	$ 347	$ 10,617
Cost of revenues	536	615	1,081	940
Gross profit (loss)	(287)	9,569	(734)	9,677
Operating expenses:
Research and development	2,697	2,574	5,103	4,676
General, administrative and marketing	1,422	1,318	2,898	2,843
Total operating income (loss)	(4,406)	5,677	(8,735)	2,158
Financial income (expenses), net	196	85	330	(111)
Net income (loss) for the period	$ (4,210)	$ 5,762	$ (8,405)	$ 2,047
Basic net income (loss) per ordinary share (in Dollars per share)	$ (0.37)	$ 0.51	$ (0.73)	$ 0.18
Diluted net income (loss) per ordinary share (in Dollars per share)	$ (0.37)	$ 0.49	$ (0.73)	$ 0.17
Weighted average ordinary shares outstanding used in computation of basic net income (loss) per share (in Shares)	11,454,512	11,369,031	11,453,845	11,329,516
Weighted average ordinary shares outstanding used in computation of diluted net income (loss) per share (in Shares)	11,454,512	11,777,139	11,453,845	11,738,884

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) - USD ($) $ in Thousands	Ordinary shares	Additional paid-in capital	Accumulated other comprehensive loss	Accumulated deficit	Total
Balance at Dec. 31, 2022	$ 4,873	$ 118,099	$ (969)	$ (89,722)	$ 32,281
Balance (in Shares) at Dec. 31, 2022	11,186,481
Exercise of warrants	$ 76	668			744
Exercise of warrants (in Shares)	186,000
Exercise of options	$ 14	134			148
Exercise of options (in Shares)	32,913
Share-based compensation		819			819
Net Income (loss)				2,047	2,047
Balance at Jun. 30, 2023	$ 4,963	119,720	(969)	(87,675)	36,039
Balance (in Shares) at Jun. 30, 2023	11,405,394
Balance at Mar. 31, 2023	$ 4,955	119,341	(969)	(93,437)	29,890
Balance (in Shares) at Mar. 31, 2023	11,385,041
Exercise of options	$ 8	81			89
Exercise of options (in Shares)	20,353
Share-based compensation		298			298
Net Income (loss)				5,762	5,762
Balance at Jun. 30, 2023	$ 4,963	119,720	(969)	(87,675)	36,039
Balance (in Shares) at Jun. 30, 2023	11,405,394
Balance at Dec. 31, 2023	$ 4,982	121,068	(969)	(96,741)	$ 28,340
Balance (in Shares) at Dec. 31, 2023	11,452,672				11,452,672
Exercise of options	$ 1	8			$ 9
Exercise of options (in Shares)	1,840
Share-based compensation		785			785
Net Income (loss)				(8,405)	(8,405)
Balance at Jun. 30, 2024	$ 4,983	121,861	(969)	(105,146)	$ 20,729
Balance (in Shares) at Jun. 30, 2024	11,454,512				11,454,512
Balance at Mar. 31, 2024	$ 4,983	121,369	(969)	(100,936)	$ 24,447
Balance (in Shares) at Mar. 31, 2024	11,454,512
Share-based compensation		492			492
Net Income (loss)				(4,210)	(4,210)
Balance at Jun. 30, 2024	$ 4,983	$ 121,861	$ (969)	$ (105,146)	$ 20,729
Balance (in Shares) at Jun. 30, 2024	11,454,512				11,454,512

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ (8,405)	$ 2,047
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	541	546
Share-based compensation to employees and consultants	780	852
Net loss from financing expenses	247	455
Changes in operating asset and liability items:
Increase in trade receivables	(250)	(10,151)
Decrease (increase) in inventories	280	(155)
Increase in other accounts receivable and prepaid expenses	(97)	(215)
Decrease in operating right of use assets	295	254
Increase (decrease) in trade payables	158	(370)
Decrease in lease liabilities	(397)	(435)
Decrease in accrued liabilities and other payables	(333)	(22)
Net cash used in operating activities	(7,181)	(7,194)
Cash flows from investing activities:
Purchase of property and equipment	(284)	(482)
Investment in restricted deposits	(57)	(59)
Net cash used in investing activities	(341)	(541)
Cash flows from financing activities:
Exercise of options and warrants into shares	9	892
Net cash provided by financing activities	9	892
Exchange differences on cash and cash equivalents and restricted cash	(241)	(444)
Net decrease in cash and cash equivalents and restricted cash	(7,754)	(7,287)
Cash and cash equivalents and restricted cash and at the beginning of the period	26,674	29,653
Cash and cash equivalents and restricted cash at the end of the period	18,920	22,366
A. Supplementary information on investing and financing activities not involving cash flows:
Right of use assets recognized with corresponding lease liabilities	623	870
Capitalization of Share-based compensation to inventory	5	33
B. Reconciliation of Cash, cash equivalents and restricted cash at the end of the period
Cash and cash equivalents	18,920	22,283
Restricted cash		83
Total cash and cash equivalents and restricted cash	$ 18,920	$ 22,366

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2024
Nature of Operations [Abstract]
NATURE OF OPERATIONS	Note 1 - NATURE OF OPERATIONS: a. CollPlant Biotechnologies Ltd. (the “Company”) is a regenerative and aesthetic medicine company focused on 3D bioprinting of tissues and organs and medical aesthetics. The Company’s products are based on its rhCollagen (recombinant human collagen) produced with CollPlant’s proprietary plant based technology. These products address indications for the diverse fields of tissue repair, aesthetics, and organ manufacturing. The Company’s revenues include income from business collaborators and from sales of (i) BioInk products for the development of 3D bioprinting of organs and tissues, (ii) rhCollagen for the medical aesthetics market, and (iii) rhCollagen-based products for tendinopathy and wound care. The Company operates mainly through its wholly-owned subsidiary, CollPlant Ltd. In November 2021 CollPlant Ltd. established CollPlant Inc., a wholly owned subsidiary in the United States. As of June 30, 2024, CollPlant Inc. has not commenced operation. b. For the six months ended and as of June 30, 2024, the Company incurred a net loss of $8,405 and has an accumulated deficit in the total amount of $105,146. The Company's negative cash flows from operating activities was $7,181. The Company's cash and cash equivalents as of June 30, 2024 totaled $18,920. The Company has sufficient funds to support its operation for more than 12 months following the approval of its consolidated financial statements as of June 30, 2024. The Company expects to incur future net losses and the transition to profitability is dependent upon, among other things, the successful development and commercialization of the Company’s products and product candidates or of the dermal filler product developed by AbbVie, the establishment of contracts for the distribution of new product lines, any of which, or in combination, would contribute to the achievement of a level of revenue adequate to support the cost structure. Until the Company achieves profitability or generates positive cash flows, it will continue to need to raise additional cash. If the Company will not be able to raise additional funds to support its cost structure, the Company may be required to apply significant cost reductions. The Company intends to fund future operations through existing cash on hand, additional private and/or public offerings of debt or equity securities, additional milestone payments that may be received under the AbbVie Development Agreement, adjustment of operating expenses to meet available cash resources or a combination of the foregoing. Notwithstanding, there can be no assurance that the Company will be able to raise additional funds or achieve or sustain profitability or positive cash flows from operations.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Significant Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: a. Basis of presentation The unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S GAAP”) for interim financial information. Accordingly, they do not contain all information and notes required by U.S GAAP for annual financial statements. In the opinion of management, these unaudited condensed consolidated financial statements reflect all adjustments, which include normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual financial statements for the year ended December 31, 2023, as filed in the 20-F on April 4, 2024. The Company’s interim period results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2023, contained in the Company’s Annual Report have been applied consistently in these unaudited condensed consolidated financial statements. b. Use of estimates in the preparation of financial statements The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s management believes that the estimates, judgment and assumptions used are reasonable based upon information available at the time they are made. Actual results may differ from those estimates. c. Principles of consolidation The consolidated financial statements include the accounts of CollPlant Biotechnologies Ltd. and its wholly-owned subsidiary, CollPlant Ltd. Intercompany balances and transactions have been eliminated upon consolidation. d. Income (loss) per share Basic income (loss) per share is computed on the basis of the net income (loss), for the period divided by the weighted average number of ordinary shares outstanding during the period. Diluted income (loss) per share is based upon the weighted average number of ordinary shares and of ordinary shares equivalents outstanding when dilutive. Ordinary share equivalents include outstanding share options and warrants, which are included under the treasury stock method when dilutive. Six months ended Three months ended 2024 2023 2024 2023 Numerator: Net income (loss) $ (8,405 ) $ 2,047 $ (4,210 ) $ 5,762 Denominator: Basic weighted-average ordinary shares outstanding 11,453,845 11,329,516 11,454,512 11,369,031 Effect of dilutive shares - 409,368 - 408,108 Diluted weighted average ordinary shares outstanding 11,453,845 11,738,884 11,454,512 11,777,139 Basic net income (loss) per share $ (0.73 ) $ 0.18 $ (0.37 ) $ 0.51 Diluted net income (loss) per share $ (0.73 ) $ 0.17 $ (0.37 ) $ 0.49 2,041,671 options were excluded from the calculation of diluted net income per share due to their anti-dilutive effect for the six and the three months ended June 30, 2024. 1,201,811 options were excluded from the calculation of diluted net income per share due to their anti-dilutive effect for the six and the three months ended June 30, 2023. e. Segments The Company identifies operating segments in accordance with ASC Topic 280, “Segment Reporting” as components of an entity for which discrete financial information is available and is regularly reviewed by the chief operating decision maker, or decision-making group, in making decisions regarding resource allocation and evaluating financial performance. The Company defines the term “chief operating decision maker” to be its chief executive officer. The Company determined it operates in one operating segment and one reportable segment, as its chief operating decision maker reviews financial information presented only on a consolidated basis for purposes of allocating resources and evaluating financial performance.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventories [Abstract]
INVENTORIES	NOTE 3 – INVENTORIES: a. Inventories as of June 30, 2024 and December 31, 2023 consisted of the following: June 30, December 31, 2024 2023 (Unaudited) Work in progress $ 218 $ 173 Finished goods 221 541 Total inventories $ 439 $ 714 b. During the six months period ended June 30, 2024, the Company recorded approximately $268 for write-down of inventories under cost of revenues. During the three months period ended June 30, 2024, the Company did not recorded write-down of inventories. During the six and three months period ended June 30, 2023, the Company recorded approximately $261 and $215 for write-down of inventories under cost of revenues, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 4 – COMMITMENTS AND CONTINGENCIES Commitment to pay royalties to the government of Israel The Company received grants from the Israeli Innovation Authority (“IIA”) for research and development funding until the year 2019, and therefore is subject to the provisions of the Israeli Law for the Encouragement of Research, Development and Technological Innovation in the Industry and the regulations and guidelines thereunder (the “Innovation Law”), the regulations promulgated thereunder, the IIA’s rules and guidelines and the terms of the approved program funded by the IIA. Under the Innovation Law royalties of 3% on the income deriving from products and from related know-how and services developed in whole or in part, directly or indirectly, under IIA programs are payable to the IIA. Such commitment is up to the amount of grants received (dollar linked), plus interest at annual rate based on LIBOR. In addition to paying any royalty due, the Company must abide by other restrictions associated with receiving such grants under the Innovation Law that continue to apply following repayment to the IIA. These restrictions may impair the Company’s ability to outsource manufacturing or otherwise transfer its know-how outside of Israel and may require it to obtain the approval of the IIA for certain actions and transactions and pay additional royalties and other amounts to the IIA. The Company did not apply for grants from the IIA since 2019. For the six months period ended June 30, 2024 and 2023, the Company recorded royalties expenses of $10 and $320, respectively. The royalty expenses which are related to the funded project are recognized in the statements of operations as a component of cost of revenue. As of June 30, 2024, the maximum total royalty amount payable by the Company under IIA funding arrangement is approximately $6,966 (without interest).

Development, Exclusivity and Op

Development, Exclusivity and Option Products Agreement	6 Months Ended
	Jun. 30, 2024
Development, Exclusivity and Option Products Agreement [Abstract]
Development, Exclusivity and Option Products Agreement	NOTE 5 - Development, Exclusivity and Option Products Agreement On February 5, 2021, CollPlant entered into a Development, Exclusivity and Option Products Agreement (the “AbbVie Development Agreement”) with AbbVie, pursuant to which CollPlant and AbbVie will collaborate in the development and commercialization of dermal and soft tissue filler products for the medical aesthetics market, using CollPlant rhCollagen technology and AbbVie’s technology. Pursuant to the AbbVie Development Agreement, CollPlant granted to AbbVie and certain of its affiliates, worldwide exclusive rights to use its rhCollagen in combination with AbbVie proprietary technologies, for the production and commercialization of dermal and soft tissue filler products, or the Exclusive Products. The AbbVie Development Agreement provides that with respect to the Exclusive Products CollPlant shall be entitled to receive up to $50,000 comprised of an upfront cash payment of $14,000, which was received in February 2021, and up to $36,000 in proceeds upon the achievement of certain development, clinical trial, regulatory and commercial sale milestones. In addition, CollPlant shall be entitled to a fixed-fee royalty payment (subject to certain adjustments) for each product commercially sold during the applicable royalty term as well as a fee for the supply of rhCollagen to AbbVie. In June 2023, the Company announced the achievement of a milestone with respect to the clinical phase dermal filler product. According to the AbbVie Development Agreement, the milestone achievement triggered a $10,000 payment from AbbVie to CollPlant, which was received in July 2023.

Share Capital

Share Capital	6 Months Ended
	Jun. 30, 2024
Share Capital [Abstract]
SHARE CAPITAL	NOTE 6 - SHARE CAPITAL: a. Ordinary shares 1) Rights of the Company’s ordinary shares Each ordinary share is entitled to one vote. The holder of the ordinary shares is also entitled to receive dividends whenever funds are legally available, when and if declared by the Board of Directors. Since its inception, the Company has not declared any dividends. 2) Changes in share capital On February 23, 2023, Mr. Sagy exercised 186,000 warrants into 186,000 ordinary shares in return of $744. b. Share- based compensation 1) Option plan Under the Company’s Share Ownership and Option Plan (2010), or the 2010 Plan, employees, directors and consultants of the Company may be granted options, each exercisable into one ordinary share of the Company of NIS 1.50 par value. On April 3, 2024, the board of directors approved the adoption of a share award plan (the “2024 Plan”). The 2024 Plan allows the Company to grant its employees, directors and consultants with several equity-based awards, including options, shares, restricted shares, restricted share units, stock appreciation rights, performance units, performance shares and other stock or cash awards. The 2024 Plan shall be in effect for a term of ten (10) years from the date of adoption, i.e., until April 2034, unless earlier terminated by its administrator. 2) Options grants In the six months ended June 30, 2024 and 2023, the Company granted options as follows: Six months ended June 30, 2024 Number of options granted Exercise Vesting Expiration Employees 41,500 $ 5.26-5.76 4 years 10 years Consultant 5,000 $ 5.26 4 years 10 years Six months ended June 30, 2023 Number of options granted Exercise Vesting Expiration Employees 104,500 $ 7.5 4 years 10 years The fair value of options granted on the date of grant was computed using the Black-Scholes model. The underlying data used for computing the fair value of the options are as follows: Six months ended 2024 2023 Value of ordinary share $ 5.13-5.46 $ 7.5 Dividend yield 0 % 0 % Expected volatility 70.91-70.97 % 74.1 % Risk-free interest rate 4.35-4.46 % 0.36 % Expected term 6.11 years 6.11 years The fair value of options granted during the six months ended June 30, 2024, and 2023 was $169 and $505, respectively. The aggregate intrinsic value of the options exercised during the six months ended June 30, 2024 was less than 1. The aggregate intrinsic value of the options exercised during the six months ended June 30, 2023 was $137. The fair value of options vested during the six months ended June 30, 2024, and 2023 was $1,176 and $1,706, respectively. The following table summarizes the activity in options granted to employees and directors for the six months period ended June 30, 2024: Number of Weighted Weighted average remaining contractual term Aggregate intrinsic value Options outstanding at the beginning of the period 1,745,880 $ 5.8 5.91 $ 1,165 Granted 41,500 5.34 Exercised (1,840 ) 5.07 Expired (9,565 ) 8.33 Forfeited (11,970 ) 5.77 Options outstanding at the end of the period 1,764,005 $ 5.78 5.53 $ 335 Options exercisable at the end of the period 1,296,239 $ 5.59 4.53 $ 335 The following table summarizes the activity in options granted to consultants for the six months period ended June 30, 2024: Number of Weighted Weighted average remaining contractual term Aggregate intrinsic value Options outstanding at the beginning of the period 11,666 $ 16.78 1.36 $ 2 Granted 5,000 5.26 Options outstanding at the end of the period 16,666 $ 12.91 3.53 $ - Options exercisable at the end of the period 6,329 $ 9.65 0.85 $ - Modification of share-based compensation On April 3, 2024, the board of directors (following the approval of the compensation committee with respect to the Company's directors and officers) approved to extend the expiry date of 337,464 options exercisable into 337,464 ordinary shares that were previously granted to some of the Company’s employees and directors, from an expiry date ranging between December 2024 and July 2025, by an additional three years, such that the expiry dates will range between December 2027 and July 2028. Out of the said options, 126,800 options exercisable into 126,800 ordinary shares are held by some of the Company's directors and its CEO (who also serves as a director on the board of directors), and as such, the extension of the expiry dates of these options is subject to the receipt of shareholders’ approval by the required majorities under applicable law. As of the date of approval of these financial statements, the Company has not yet convened a meeting of shareholders and accordingly, approval of the shareholders has not yet been received. For options for which approval has been received, the total incremental fair value of these options granted to the Company’s employees amounted to $197 and was determined based on the Black-Scholes pricing options model using the following assumptions: risk free interest rate of 4.68%, expected volatility of 67.38% - 71.62%, expected term of 1.87-2.16 years and dividend yield of 0%. For the six months ended June 30, 2024, the Company recorded the total expenses from these extended 3) RSU grants In the six months ended June 30, 2024, the Company granted restricted share units, or RSU, as follows: Six months ended Number of RSU granted Weighted Average Grant Date Fair Value Employees 261,000 $ 5.13 The following table summarizes the activity in RSU granted to employees under the 2024 Plan for the six months period ended June 30, 2024: Number of Weighted Unvested at the beginning of the period 0 $ 0 Granted 261,000 5.13 Unvested at the end of the period 261,000 $ 5.13 4) The following table illustrates the effect of share-based compensation on the statements of operations: Six months ended Three months ended 2024 2023 2024 2023 Cost of revenue $ - $ 19 $ - $ 11 Research and development 410 307 278 121 General, administrative and marketing 370 526 212 206 $ 780 $ 852 $ 490 $ 338 As of June 30, 2024, there was $2,213 of unrecognized compensation expense related to unvested RSUs and options. This amount is expected to be recognized over a weighted-average period of 1.9 years.

Supplementary Financial Stateme

Supplementary Financial Statement Information	6 Months Ended
	Jun. 30, 2024
Supplementary Financial Statement Information [Abstract]
SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION	NOTE 7 - SUPPLEMENTARY FINANCIAL STATEMENT INFORMATION a. Disaggregated revenues: Six months ended Three months ended 2024 2023 2024 2023 Revenues from milestones (See note 5) $ - $ 10,000 $ - $ 10,000 Revenues from the sales of goods 347 617 249 184 Total revenues $ 347 $ 10,617 $ 249 $ 10,184 b. Revenues by geographic area were as follows: Six months ended Three months ended 2024 2023 2024 2023 United states and Canada $ 339 $ 10,592 $ 244 $ 10,161 Europe and others 8 25 5 23 Total revenues $ 347 $ 10,617 $ 249 $ 10,184 c. Major customers Set forth below is a breakdown of the Company’s revenue by major customers (major customer –revenues from these customers constitute at least 10% of total revenues in a certain period): Six months ended Three months ended 2024 2023 2024 2023 Customer A $ 331 $ 10,527 $ 244 $ 10,151

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2024
Significant Accounting Policies [Abstract]
Basis of presentation	a. Basis of presentation The unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S GAAP”) for interim financial information. Accordingly, they do not contain all information and notes required by U.S GAAP for annual financial statements. In the opinion of management, these unaudited condensed consolidated financial statements reflect all adjustments, which include normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual financial statements for the year ended December 31, 2023, as filed in the 20-F on April 4, 2024. The Company’s interim period results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. The significant accounting policies applied in the annual consolidated financial statements of the Company as of December 31, 2023, contained in the Company’s Annual Report have been applied consistently in these unaudited condensed consolidated financial statements.
Use of estimates in the preparation of financial statements	b. Use of estimates in the preparation of financial statements The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s management believes that the estimates, judgment and assumptions used are reasonable based upon information available at the time they are made. Actual results may differ from those estimates.
Principles of consolidation	c. Principles of consolidation The consolidated financial statements include the accounts of CollPlant Biotechnologies Ltd. and its wholly-owned subsidiary, CollPlant Ltd. Intercompany balances and transactions have been eliminated upon consolidation.
Income (loss) per share	d. Income (loss) per share Basic income (loss) per share is computed on the basis of the net income (loss), for the period divided by the weighted average number of ordinary shares outstanding during the period. Diluted income (loss) per share is based upon the weighted average number of ordinary shares and of ordinary shares equivalents outstanding when dilutive. Ordinary share equivalents include outstanding share options and warrants, which are included under the treasury stock method when dilutive. Six months ended Three months ended 2024 2023 2024 2023 Numerator: Net income (loss) $ (8,405 ) $ 2,047 $ (4,210 ) $ 5,762 Denominator: Basic weighted-average ordinary shares outstanding 11,453,845 11,329,516 11,454,512 11,369,031 Effect of dilutive shares - 409,368 - 408,108 Diluted weighted average ordinary shares outstanding 11,453,845 11,738,884 11,454,512 11,777,139 Basic net income (loss) per share $ (0.73 ) $ 0.18 $ (0.37 ) $ 0.51 Diluted net income (loss) per share $ (0.73 ) $ 0.17 $ (0.37 ) $ 0.49 2,041,671 options were excluded from the calculation of diluted net income per share due to their anti-dilutive effect for the six and the three months ended June 30, 2024. 1,201,811 options were excluded from the calculation of diluted net income per share due to their anti-dilutive effect for the six and the three months ended June 30, 2023.
Segments	e. Segments The Company identifies operating segments in accordance with ASC Topic 280, “Segment Reporting” as components of an entity for which discrete financial information is available and is regularly reviewed by the chief operating decision maker, or decision-making group, in making decisions regarding resource allocation and evaluating financial performance. The Company defines the term “chief operating decision maker” to be its chief executive officer. The Company determined it operates in one operating segment and one reportable segment, as its chief operating decision maker reviews financial information presented only on a consolidated basis for purposes of allocating resources and evaluating financial performance.

Significant Accounting Polici_2

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Significant Accounting Policies [Abstract]
Schedule of Ordinary Share Equivalents Share Options and Warrants	Ordinary share equivalents include outstanding share options and warrants, which are included under the treasury stock method when dilutive. Six months ended Three months ended 2024 2023 2024 2023 Numerator: Net income (loss) $ (8,405 ) $ 2,047 $ (4,210 ) $ 5,762 Denominator: Basic weighted-average ordinary shares outstanding 11,453,845 11,329,516 11,454,512 11,369,031 Effect of dilutive shares - 409,368 - 408,108 Diluted weighted average ordinary shares outstanding 11,453,845 11,738,884 11,454,512 11,777,139 Basic net income (loss) per share $ (0.73 ) $ 0.18 $ (0.37 ) $ 0.51 Diluted net income (loss) per share $ (0.73 ) $ 0.17 $ (0.37 ) $ 0.49

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventories [Abstract]
Schedule of Inventories	Inventories as of June 30, 2024 and December 31, 2023 consisted of the following: June 30, December 31, 2024 2023 (Unaudited) Work in progress $ 218 $ 173 Finished goods 221 541 Total inventories $ 439 $ 714

Share Capital (Tables)

Share Capital (Tables)	6 Months Ended
	Jun. 30, 2024
Share Capital (Tables) [Line Items]
Schedule of Options Granted	In the six months ended June 30, 2024 and 2023, the Company granted options as follows: Six months ended June 30, 2024 Number of options granted Exercise Vesting Expiration Employees 41,500 $ 5.26-5.76 4 years 10 years Consultant 5,000 $ 5.26 4 years 10 years Six months ended June 30, 2023 Number of options granted Exercise Vesting Expiration Employees 104,500 $ 7.5 4 years 10 years
Schedule of Fair Value of Options Granted	The fair value of options granted on the date of grant was computed using the Black-Scholes model. The underlying data used for computing the fair value of the options are as follows: Six months ended 2024 2023 Value of ordinary share $ 5.13-5.46 $ 7.5 Dividend yield 0 % 0 % Expected volatility 70.91-70.97 % 74.1 % Risk-free interest rate 4.35-4.46 % 0.36 % Expected term 6.11 years 6.11 years
Schedule of Restricted Stock Units	In the six months ended June 30, 2024, the Company granted restricted share units, or RSU, as follows: Six months ended Number of RSU granted Weighted Average Grant Date Fair Value Employees 261,000 $ 5.13
Schedule of Share-Based Compensation	The following table illustrates the effect of share-based compensation on the statements of operations: Six months ended Three months ended 2024 2023 2024 2023 Cost of revenue $ - $ 19 $ - $ 11 Research and development 410 307 278 121 General, administrative and marketing 370 526 212 206 $ 780 $ 852 $ 490 $ 338
Employees and Directors [Member]
Share Capital (Tables) [Line Items]
Schedule of Options Granted	The following table summarizes the activity in options granted to employees and directors for the six months period ended June 30, 2024: Number of Weighted Weighted average remaining contractual term Aggregate intrinsic value Options outstanding at the beginning of the period 1,745,880 $ 5.8 5.91 $ 1,165 Granted 41,500 5.34 Exercised (1,840 ) 5.07 Expired (9,565 ) 8.33 Forfeited (11,970 ) 5.77 Options outstanding at the end of the period 1,764,005 $ 5.78 5.53 $ 335 Options exercisable at the end of the period 1,296,239 $ 5.59 4.53 $ 335 Number of Weighted Weighted average remaining contractual term Aggregate intrinsic value Options outstanding at the beginning of the period 11,666 $ 16.78 1.36 $ 2 Granted 5,000 5.26 Options outstanding at the end of the period 16,666 $ 12.91 3.53 $ - Options exercisable at the end of the period 6,329 $ 9.65 0.85 $ - The following table summarizes the activity in RSU granted to employees under the 2024 Plan for the six months period ended June 30, 2024: Number of Weighted Unvested at the beginning of the period 0 $ 0 Granted 261,000 5.13 Unvested at the end of the period 261,000 $ 5.13

Supplementary Financial State_2

Supplementary Financial Statement Information (Tables)	6 Months Ended
	Jun. 30, 2024
Supplementary Financial Statement Information [Abstract]
Schedule of Disaggregated Revenues	Disaggregated revenues: Six months ended Three months ended 2024 2023 2024 2023 Revenues from milestones (See note 5) $ - $ 10,000 $ - $ 10,000 Revenues from the sales of goods 347 617 249 184 Total revenues $ 347 $ 10,617 $ 249 $ 10,184
Schedule of Revenues by Geographical Area	Revenues by geographic area were as follows: Six months ended Three months ended 2024 2023 2024 2023 United states and Canada $ 339 $ 10,592 $ 244 $ 10,161 Europe and others 8 25 5 23 Total revenues $ 347 $ 10,617 $ 249 $ 10,184
Schedule of Revenue by Major Customers	Set forth below is a breakdown of the Company’s revenue by major customers (major customer –revenues from these customers constitute at least 10% of total revenues in a certain period): Six months ended Three months ended 2024 2023 2024 2023 Customer A $ 331 $ 10,527 $ 244 $ 10,151

Nature of Operations (Details)

Nature of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Nature of Operations [Abstract]
Net loss	$ (4,210)	$ 5,762	$ (8,405)	$ 2,047
Accumulated deficit	(105,146)		(105,146)		$ (96,741)
Cash flows from operating activities			(7,181)	$ (7,194)
Cash and cash equivalent	$ 18,920		$ 18,920

Significant Accounting Polici_3

Significant Accounting Policies (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024 shares	Jun. 30, 2023 shares	Jun. 30, 2024 shares	Jun. 30, 2023 shares
Significant Accounting Policies [Abstract]
Anti-dilutive effect	2,041,671	1,201,811	2,041,671	1,201,811
Operating segments			1
Reportable segments			1

Significant Accounting Polici_4

Significant Accounting Policies (Details) - Schedule of Ordinary Share Equivalents Share Options and Warrants - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net income (loss) (in Dollars)	$ (4,210)	$ 5,762	$ (8,405)	$ 2,047
Denominator:
Basic weighted-average ordinary shares outstanding	11,454,512	11,369,031	11,453,845	11,329,516
Effect of dilutive shares		408,108		409,368
Diluted weighted average ordinary shares outstanding	11,454,512	11,777,139	11,453,845	11,738,884
Basic net income (loss) per share (in Dollars per share)	$ (0.37)	$ 0.51	$ (0.73)	$ 0.18
Diluted net income (loss) per share (in Dollars per share)	$ (0.37)	$ 0.49	$ (0.73)	$ 0.17

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Inventories [Abstract]
Write-down of inventories	$ 261	$ 268	$ 215

Inventories (Details) - Schedul

Inventories (Details) - Schedule of Inventories - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventories [Abstract]
Work in progress	$ 218	$ 173
Finished goods	221	541
Total inventories	$ 439	$ 714

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies [Abstract]
Percentage of income deriving from products	3%
Royalties expenses	$ 10	$ 320
Maximum total royalty amount	$ 6,966

Development, Exclusivity and _2

Development, Exclusivity and Option Products Agreement (Details) - USD ($)	Feb. 28, 2021	Jul. 31, 2023
Development, Exclusivity and Option Products Agreement [Abstract]
Receive amount	$ 50,000
Cash payment	14,000
Proceeds of payments	$ 36,000
Payment received		$ 10,000

Share Capital (Details)

Share Capital (Details) $ in Thousands			3 Months Ended		6 Months Ended
	Apr. 03, 2024 shares	Feb. 23, 2023 USD ($) shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) shares	Jun. 30, 2024 USD ($) ₪ / shares shares	Jun. 30, 2023 USD ($)
Share Capital [Line Items]
Exercised shares (in Shares) | shares			126,800		126,800	126,800
Shares return value		$ 744
Exercisable ordinary share (in Shares) | shares					1
Granted options per share (in New Shekels per share) | ₪ / shares						₪ 1.5
Stock option term	10 years
Fair value of options granted					$ 169		$ 505
Aggregate intrinsic value			$ 1	$ 137	1	₪ 1	137
Fair value vested options					1,176		$ 1,706
Employees amounted					$ 197
Percentage of interest					4.68%		0.36%
Percentage of volatility							74.10%
Term dividend yield					6 years 1 month 9 days		6 years 1 month 9 days
Dividend yield percentage					0%		0%
Extended options					$ 197
Unrecognized compensation expense			$ 490	$ 338	$ 780		$ 852
Expected recognized weighted average period					1 year 10 months 24 days
Restricted Stock Units (RSUs) [Member]
Share Capital [Line Items]
Unrecognized compensation expense					$ 2,213
Warrant [Member]
Share Capital [Line Items]
Exercised shares (in Shares) | shares	337,464	186,000
Minimum [Member]
Share Capital [Line Items]
Percentage of interest					4.35%
Percentage of volatility					70.91%
Term dividend yield					1 year 10 months 13 days
Minimum [Member] | Share-Based Payment Arrangement [Member]
Share Capital [Line Items]
Percentage of volatility					67.38%
Maximum [Member]
Share Capital [Line Items]
Percentage of interest					4.46%
Percentage of volatility					70.97%
Maximum [Member] | Share-Based Payment Arrangement [Member]
Share Capital [Line Items]
Percentage of volatility					71.62%
Ordinary Shares [Member]
Share Capital [Line Items]
Exercised shares (in Shares) | shares	337,464	186,000	126,800		126,800	126,800

Share Capital (Details) - Sched

Share Capital (Details) - Schedule of Options Granted - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Employees [Member]
Share Capital (Details) - Schedule of Options Granted [Line Items]
Number of options granted (in Shares)	41,500	104,500
Exercise price range (in Dollars per share)		$ 7.5
Vesting period	4 years	4 years
Expiration	10 years	10 years
Consultant [Member]
Share Capital (Details) - Schedule of Options Granted [Line Items]
Number of options granted (in Shares)	5,000
Exercise price range (in Dollars per share)	$ 5.26
Vesting period	4 years
Expiration	10 years
Minimum [Member] | Employees [Member]
Share Capital (Details) - Schedule of Options Granted [Line Items]
Exercise price range (in Dollars per share)	$ 5.26
Maximum [Member] | Employees [Member]
Share Capital (Details) - Schedule of Options Granted [Line Items]
Exercise price range (in Dollars per share)	$ 5.76

Share Capital (Details) - Sch_2

Share Capital (Details) - Schedule of Fair Value of Options Granted - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Fair Value of Options Granted [Line Items]
Value of ordinary share (in Dollars per share)		$ 7.5
Dividend yield	0%	0%
Expected volatility		74.10%
Risk-free interest rate	4.68%	0.36%
Expected term	6 years 1 month 9 days	6 years 1 month 9 days
Minimum [Member]
Schedule of Fair Value of Options Granted [Line Items]
Value of ordinary share (in Dollars per share)	$ 5.13
Expected volatility	70.91%
Risk-free interest rate	4.35%
Expected term	1 year 10 months 13 days
Maximum [Member]
Schedule of Fair Value of Options Granted [Line Items]
Value of ordinary share (in Dollars per share)	$ 5.46
Expected volatility	70.97%
Risk-free interest rate	4.46%

Share Capital (Details) - Sch_3

Share Capital (Details) - Schedule of Changes in Number of Options Granted $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Options Granted Employees and Directors [Member]
Schedule of Changes in Number of Options Granted [Line Items]
Number of options, outstanding beginning balance | shares	1,745,880
Weighted average exercise price, beginning balance | $ / shares	$ 5.8
Weighted average remaining contractual term (in years), beginning balance	5 years 10 months 28 days
Aggregate intrinsic value, beginning balance | $	$ 1,165
Number of options, Granted | shares	41,500
Weighted average exercise price, Granted | $ / shares	$ 5.34
Number of options, Exercised | shares	(1,840)
Weighted average exercise price, Exercised | $ / shares	$ 5.07
Number of options, Expired | shares	(9,565)
Weighted average exercise price, Expired | $ / shares	$ 8.33
Number of options, Forfeited | shares	(11,970)
Weighted average exercise price, Forfeited | $ / shares	$ 5.77
Number of options, outstanding ending balance | shares	1,764,005
Weighted average exercise price, ending balance | $ / shares	$ 5.78
Weighted average remaining contractual term (in years), ending balance	5 years 6 months 10 days
Aggregate intrinsic value, ending balance | $	$ 335
Number of options, Options exercisable at the end of the period | shares	1,296,239
Weighted average exercise price, Options exercisable at the end of the period | $ / shares	$ 5.59
Weighted average remaining contractual term (in years), Options exercisable at the end of the period	4 years 6 months 10 days
Aggregate intrinsic value, Options exercisable at the end of the period | $	$ 335
Non-Employees [Member] | Options Granted Consultants [Member]
Schedule of Changes in Number of Options Granted [Line Items]
Number of options, outstanding beginning balance | shares	11,666
Weighted average exercise price, beginning balance | $ / shares	$ 16.78
Weighted average remaining contractual term (in years), beginning balance	1 year 4 months 9 days
Aggregate intrinsic value, beginning balance | $	$ 2
Number of options, Granted | shares	5,000
Weighted average exercise price, Granted | $ / shares	$ 5.26
Number of options, outstanding ending balance | shares	16,666
Weighted average exercise price, ending balance | $ / shares	$ 12.91
Weighted average remaining contractual term (in years), ending balance	3 years 6 months 10 days
Aggregate intrinsic value, ending balance | $
Number of options, Options exercisable at the end of the period | shares	6,329
Weighted average exercise price, Options exercisable at the end of the period | $ / shares	$ 9.65
Weighted average remaining contractual term (in years), Options exercisable at the end of the period	10 months 6 days
Aggregate intrinsic value, Options exercisable at the end of the period | $
Employees 2024 Plan [Member] | Restricted Stock Units (RSUs) [Member]
Schedule of Changes in Number of Options Granted [Line Items]
Number of options, Granted | shares	261,000
Weighted Average Grant Date Fair Value, Granted | $ / shares	$ 5.13
Number of options, Unvested at the end of the period | shares	261,000
Weighted Average Grant Date Fair Value, Unvested at the end of the period | $ / shares	$ 5.13
Number of options, Unvested at the beginning of the period | shares	0
Weighted Average Grant Date Fair Value, Unvested at the beginning of the period | $ / shares	$ 0

Share Capital (Details) - Sch_4

Share Capital (Details) - Schedule of Restricted Stock Units - Employees [Member] - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share Capital (Details) - Schedule of Restricted Stock Units [Line Items]
Number of RSU granted | shares	261,000
Weighted Average Grant Date Fair Value | $ / shares	$ 5.13

Share Capital (Details) - Sch_5

Share Capital (Details) - Schedule of Share-Based Compensation - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of Share-Based Compensation [Line Items]
Share-based compensation	$ 490	$ 338	$ 780	$ 852
Cost of revenues [Member]
Schedule of Share-Based Compensation [Line Items]
Share-based compensation		11		19
Research and development [Member]
Schedule of Share-Based Compensation [Line Items]
Share-based compensation	278	121	410	307
General, administrative and marketing [Member]
Schedule of Share-Based Compensation [Line Items]
Share-based compensation	$ 212	$ 206	$ 370	$ 526

Supplementary Financial State_3

Supplementary Financial Statement Information (Details) - Schedule of Disaggregated Revenues - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of Disaggregated Revenues [Line Items]
Total revenues	$ 249	$ 10,184	$ 347	$ 10,617
Revenues from milestones [Member]
Schedule of Disaggregated Revenues [Line Items]
Total revenues		10,000		10,000
Revenues from the sales of goods [Member]
Schedule of Disaggregated Revenues [Line Items]
Total revenues	$ 249	$ 184	$ 347	$ 617

Supplementary Financial State_4

Supplementary Financial Statement Information (Details) - Schedule of Revenues by Geographical Area - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of Revenues by Geographical Area [Line Items]
Total Revenues	$ 249	$ 10,184	$ 347	$ 10,617
United states and Canada [Member]
Schedule of Revenues by Geographical Area [Line Items]
Total Revenues	244	10,161	339	10,592
Europe and others [Member]
Schedule of Revenues by Geographical Area [Line Items]
Total Revenues	$ 5	$ 23	$ 8	$ 25

Supplementary Financial State_5

Supplementary Financial Statement Information (Details) - Schedule of Revenue by Major Customers - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Customer A [Member]
Schedule of Revenue by Major Customers [Line Items]
Revenues	$ 244	$ 10,151	$ 331	$ 10,527