Welcome to our dedicated page for Sientra news (Ticker: SIEN), a resource for investors and traders seeking the latest updates and insights on Sientra stock.
Sientra, Inc. (NASDAQ: SIEN) is a surgical aesthetics company headquartered in Irvine, California. The company is dedicated to developing innovative and safe solutions aimed at achieving the best aesthetic outcomes. Sientra's diverse product portfolio includes round and shaped breast implants, the first fifth-generation breast implants approved by the FDA for sale in the United States, and the groundbreaking AlloX2® breast tissue expander with patented dual-port and integral drain technology. The company also offers the next-generation AlloX2Pro™, the first and only FDA-cleared MRI-compatible tissue expander, the Viality™ with AuraClens™ enhanced viability fat transfer system, and the SimpliDerm® Human Acellular Dermal Matrix. One of the flagship products in its lineup is BIOCORNEUM, the top-performing and most recommended scar gel by plastic surgeons.
In recent developments, Sientra has reported substantial progress toward sustainable and profitable growth. The second quarter of 2023 marked the twelfth consecutive quarter of year-over-year revenue growth, largely driven by strong performance in reconstruction and despite a decline in elective cash pay aesthetics procedures. New products like Viality™ and SimpliDerm® have received positive feedback and are expected to boost the company's long-term growth and solidify its leading position in the reconstruction market.
The company's financial condition has shown improvement, with effective measures in place to reduce operating expenses. Total net sales for the full year 2023 are expected to be between $98 million to $102 million, reflecting an annual growth rate of 8% to 13%. Sientra's operating spend is forecasted to be significantly lower, demonstrating the firm's commitment to long-term profitability. Despite some market softness in the augmentation segment, Sientra remains focused on enhancing its financial footing and strategic partnerships.
One of the significant steps taken by Sientra to ensure operational continuity during its Chapter 11 proceedings is securing $22.5 million in debtor-in-possession financing from existing lenders. This fund will support ongoing operations during the sale process, aiming for increased financial stability and long-term success under new ownership. The company has also announced a definitive agreement with Tiger Aesthetics Medical, LLC and Nuance Intermediary, LLC for the sale of its breast reconstruction and BIOCORNEUM businesses, respectively.
Sientra continues to use its investor relations website as a primary source for disseminating important information, ensuring transparency and accessibility for investors. To learn more about Sientra, visit their website and follow them on LinkedIn, Instagram, and Facebook.
Sientra, Inc. (NASDAQ: SIEN) announced the release of its third quarter 2022 financial results, set to take place after market closure on November 10, 2022. A conference call to discuss these results will follow at 4:30 p.m. ET. The company focuses on medical aesthetics and offers innovative plastic surgery products, including the FDA-approved fifth-generation breast implants and the Allox2® tissue expander. Interested parties can access the conference call via dial-in or webcast.
Sientra, Inc. (NASDAQ: SIEN) has priced its public offering of 34,782,600 shares of common stock and accompanying warrants at $0.38 per unit, aiming to raise approximately $13.2 million before expenses. Each unit consists of one share and one warrant with an exercise price of $0.46, exercisable immediately for five years. The offering is scheduled to close around October 25, 2022, pending customary conditions. Additionally, the underwriter has a 30-day option for 5,217,390 more shares. Proceeds will support general working capital.
Sientra, Inc. (NASDAQ: SIEN) announced an intention to conduct an underwritten public offering of common stock, which will include warrants for additional shares. Craig-Hallum Capital Group is the managing underwriter, and the offering is subject to market conditions. The net proceeds will be utilized for general working capital purposes. A shelf registration statement has been effective since May 27, 2022. The offering's specifics will be provided in a prospectus filed with the SEC, with no assurance on the completion timeline.
Sientra anticipates third quarter net sales of $21.5-$22.5 million, reflecting a 10-15% increase year-over-year. The company is maintaining its full-year revenue guidance of $90-95 million. A recent refinancing agreement with Deerfield Management has improved Sientra's balance sheet, reducing total debt by approximately $10 million to $73 million. Enhanced financial flexibility is expected to support growth and market expansion, particularly with upcoming product launches in 2023.
Sientra has launched initiatives for Breast Cancer Awareness Month, partnering with actress and survivor Miranda McKeon to promote breast reconstruction options. McKeon emphasizes the importance of education and research in making treatment choices. Additionally, Sientra collaborates with the Brem Foundation to launch Sientra Supports, encouraging the donation of pre-surgery bras to low-income women. The company aims to enhance awareness about reconstruction options and support women diagnosed with invasive breast cancer, aligning with their commitment to community health.
Sientra, Inc. (NASDAQ: SIEN) has gained approval from the Saudi Food & Drug Authority to market its High-Strength Cohesive silicone gel breast implants in Saudi Arabia. This marks a significant step in Sientra's international expansion efforts into the GCC and Middle East. Partnering with Rose Aljazera, a leading distributor in the region, the company aims to address unmet needs in aesthetic surgery. CEO Ron Menezes emphasized Saudi Arabia's role as a pivotal launchpad for growth, reflecting Sientra's commitment to innovation and safety in medical aesthetics.
Sientra, Inc. (NASDAQ:SIEN) announced on September 6, 2022, the approval of equity award grants to 49 new employees under its Inducement Plan. These grants consist of 1,182,029 restricted stock units that will vest over time, contingent upon continued employment. The grants serve as a material component of the employees' compensation and were approved by the Compensation Committee in accordance with NASDAQ Rule 5635(c)(4). Sientra focuses on innovative products in medical aesthetics, particularly in plastic surgery, and is committed to enhancing the industry through technology.
Sientra, Inc. (NASDAQ: SIEN) reported Q2 2022 financial results, achieving net sales of $21.5 million, a 7% increase year-over-year, driven by 23% growth in reconstruction. Year-to-date sales rose 12% to $42.9 million. Gross margins improved to 59.2% from 56% in Q2 2021. Despite operational challenges, Sientra added nearly 300 new accounts and launched the Dermaspan tissue expander. They revised revenue guidance for 2022 to $90-$95 million due to macroeconomic headwinds affecting consumer spending.
Sientra, Inc. (NASDAQ: SIEN) announced it will release its financial results for Q2 2022 on August 11, 2022, after market close. A conference call will follow at 4:30 p.m. ET to discuss these results. Information regarding the call can be found on Sientra's investor relations website. The Company, headquartered in Santa Barbara, focuses on medical aesthetics, offering innovative products, including FDA-approved breast implants and advanced surgical systems.
FAQ
What is the market cap of Sientra (SIEN)?
What does Sientra, Inc. specialize in?
Where is Sientra headquartered?
What are some of Sientra's key products?
How did Sientra perform financially in the second quarter of 2023?
What recent product launches has Sientra introduced?
How is Sientra addressing its financial challenges?
What strategic sales has Sientra recently announced?
What is Sientra’s outlook for the full year 2023?
How does Sientra ensure product safety and efficacy?
How can investors stay updated on Sientra’s latest developments?
