Establishment Labs Holdings Inc. - ESTA STOCK NEWS

Establishment Labs Holdings Inc. (NASDAQ: ESTA) has announced participation in the UBS Genomics 2.0 and MedTech Innovations Summit from August 10-12, 2021. CEO Juan José Chacón-Quirós and Interim CFO Raj Denhoy will address attendees on August 12 at 8:00 am ET. A live webcast of their presentation will be available on the company's investor relations website, along with an archived version post-event. Establishment Labs specializes in women's health, notably breast aesthetics and reconstruction, marketing over 1.6 million Motiva Implants® worldwide since 2010.

Establishment Labs Holdings Inc. (NASDAQ: ESTA) reported a second-quarter revenue of $32.0 million, up 205% year-over-year, achieving a quarterly record. The company raised its 2021 revenue guidance to $122 million to $126 million, a 44% to 49% increase from 2020. Operating expenses rose to $26.1 million, up 55% from the previous year, contributing to a net loss of $5.3 million. The company maintains a cash balance of $76.8 million. Additionally, notable advancements include the publication of a study on Motiva SmoothSilk implants demonstrating superior biocompatibility.

Establishment Labs Holdings Inc. (NASDAQ: ESTA) announced the publication of its 2020 Corporate Social Responsibility annual review, marking the third anniversary of its NASDAQ listing. CEO Juan José Chacón-Quirós emphasized the company’s commitment to sustainability and governance, alongside financial goals. Key topics included the elevation of Women’s Health as a material focus, the achievement of carbon-neutral certifications, advocacy for women’s health, and highlights of its financial performance. The report aims to align with the 2030 UN Sustainable Development Goals and benchmark against industry peers.

Establishment Labs Holdings (NASDAQ: ESTA) will release its financial results for Q2 2021 on July 29, 2021, prior to market open. A conference call is scheduled for 8:30 am ET the same day to discuss these results. The company specializes in women's health, particularly in breast aesthetics, and offers Motiva Implants®, which are available in over 80 countries. Established in 2018, they received FDA approval for a clinical trial in the U.S. for these implants.

Establishment Labs Holdings (NASDAQ: ESTA) announced the appointment of Ann Custin and Bryan Slotkin to its Board of Directors, effective immediately. Founder and CEO Juan José Chacón-Quirós highlighted their governance experience as crucial for advancing the company's mission in women's health. Custin, former CFO at Siemens Healthineers, and Slotkin, a partner at PJT Partners, bring extensive industry and financial expertise. This leadership change aims to enhance innovation and market expansion, aligning with the company’s commitment to improving women's health through differentiated technology.

Establishment Labs Holdings Inc. (NASDAQ: ESTA) announced CFO Renee Gaeta's departure effective July 30, 2021, with Raj Denhoy appointed as Interim CFO. The company expects second-quarter 2021 revenues between $31 million and $32 million, reflecting a 196% to 206% growth year-over-year. Gaeta expressed gratitude for her tenure, noting the company’s significant growth, including completion of an FDA trial and plans for a third manufacturing facility. Establishment Labs remains committed to its goal of becoming a leader in breast aesthetics and reconstruction.

Establishment Labs Holdings Inc. (NASDAQ: ESTA) has commenced construction on its Sulayöm Innovation Campus in Costa Rica, aimed at enhancing its manufacturing and R&D capabilities in the breast aesthetics market. The project, split into two phases and costing approximately $35 million, is expected to generate up to 1,000 new jobs. The facility will support global growth plans and sustainability initiatives, as the company aims to cater to over half of the worldwide market for Motiva Implants. The groundbreaking marks a significant step in the company’s expansion strategy.

Establishment Labs Holdings (NASDAQ: ESTA) held a groundbreaking ceremony for its Sulayöm Innovation Campus in Costa Rica, which will span approximately 145,000 square feet. This new facility aims to enhance manufacturing, R&D, and training capabilities, supporting the company’s growth in breast aesthetics. The first phase of construction is projected to cost $35 million, primarily financed through local credit. The campus will create 1,000 new jobs and allows the company to expand its global footprint, aiming to supply over half of the worldwide market for Motiva Implants.

Establishment Labs Holdings Inc. (NASDAQ: ESTA) announced results from a pivotal study on breast implant surfaces affecting immune responses. Conducted by MIT researchers, the study published in Nature Biomedical Engineering reveals that the patented Motiva® SmoothSilk® surface minimizes the foreign body response compared to rough or smooth alternatives. Findings indicate lower macrophage activity and healthier tissue capsules associated with SmoothSilk implants. These results could reshape the breast implant industry by enhancing biocompatibility, potentially reducing complications and improving patient outcomes.