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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 acquisition of AuraGen Aesthetic's fat grafting technology, the AuraGen system, for $1 million in cash and 3.9 million shares. This acquisition targets the $13 billion U.S. plastic surgery market, expanding Sientra's scope beyond breast procedures into aesthetic applications for the face, hands, and gluteal augmentation. The AuraGen system boasts superior fat retention rates of over 70% and is expected to enhance Sientra’s product portfolio and market reach significantly.
Sientra, Inc. (NASDAQ: SIEN), a medical aesthetics firm based in Santa Barbara, California, announced management will present at the H.C. Wainwright Bioconnect Virtual Conference on January 10, 2022, at 7:00 AM ET. A pre-recorded presentation will be accessible via the company's investor relations website. Sientra focuses on innovative plastic surgery products, including the FDA-approved fifth-generation breast implants and Allox2® breast tissue expander, which features patented technology. The company aims to enhance patient care through advanced surgical solutions.
Sientra, Inc. (NASDAQ: SIEN) has announced exclusive distribution agreements with Kai Aesthetics in Canada and Paragon Meditech in China for its breast implants. This expansion aligns with Sientra's goal to enter the Canadian market and taps into China's rapidly growing aesthetic market. The company is optimistic about securing regulatory approvals within 18 to 36 months. Sientra is the fastest-growing breast implant brand in the U.S., having doubled its market share since January 2020, underpinned by strong safety data and warranties for its products.
Sientra, Inc. reported a 28% year-over-year revenue growth for Q3 2021, achieving net sales of $19.6 million. The company anticipates full-year revenues between $76 million and $78 million, reflecting a 38%-42% increase. Key highlights include adding around 300 accounts and generating 17,000 leads for plastic surgeons. The gross profit margin improved to 54%, despite rising operating expenses of $22.3 million. Notably, net income surged to $28.4 million from a loss of $5.8 million in 2020, attributed to a positive change in the fair value of derivative liabilities.
Sientra, a medical aesthetics company, announced management participation in three upcoming investor conferences. The events include the Stifel 2021 Healthcare Conference on November 15, featuring a fireside chat, and the Craig-Hallum Alpha Select Conference on November 16 with 1x1 meetings. Additionally, they will attend the Stephens Annual Investment Conference in Nashville, TN, on December 3, which will also include a fireside chat. Live webcasts will be available on the company's website.
Sientra, a medical aesthetics company, will release its financial results for Q3 2021 on November 10, 2021, after market close. A conference call will follow at 4:30 p.m. ET to discuss these results, with dial-in options for both domestic and international callers. Sientra specializes in innovative products tailored for plastic surgeons, including FDA-approved breast implants and advanced tissue expanders. The company emphasizes its commitment to innovation and patient care while providing valuable resources through its investor relations website.
Sientra announces the launch of Reshaping Lives: Full Circle, a nationwide program offering post-mastectomy reconstructive breast surgery to women in poverty. Funded by a $1 million donation from Sientra, this initiative is a collaboration with Mission Plasticos, aimed at addressing healthcare disparities. The program recruits volunteer surgeons to provide surgeries at no cost to qualified women using Sientra's silicone gel breast implants. This effort aligns with Sientra's goal of improving access to critical healthcare for underserved populations.
Sientra, Inc. (NASDAQ: SIEN) announced a Stanford University study published in PRS Global Open validating its AlloX2® dual-port tissue expander for managing seroma and early intervention in prepectoral breast reconstruction. The study involved 49 patients, successfully aspirating up to 95 cm3 of fluid without image guidance. The AlloX2's design reduces reoperation rates and allows for quick infection management, enhancing patient outcomes. Sientra's breast products are seeing growing demand, with a reported 21% increase in the market since 2020.
Sientra, Inc. (NASDAQ: SIEN) reported outstanding financial results for Q2 2021, with Breast Products revenue soaring to $20.1 million, marking a 116% increase year-over-year. The company added over 300 accounts, reaching a record total of more than 2,400 accounts. Cash reserves grew to $82.4 million, up $2 million from Q1 2021. Full-year revenue guidance was raised to between $74 million and $78 million, representing a 35%-42% growth compared to 2020. Sientra also welcomed new executives and board members, enhancing leadership diversity.
Sientra, Inc. (NASDAQ: SIEN) announced it will release its second-quarter 2021 financial results on August 10, 2021, after market close. A conference call to discuss these results will take place at 4:30 p.m. ET the same day. Interested parties can join the call by dialing 1 (844) 464-3933 for domestic callers or 1 (765) 507-2612 for international participants, using conference ID 8957315. The call will also be webcast live on Sientra's investor relations website, where it will be archived afterward.
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