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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) reported its audited financial results for Q4 and the full year 2020, revealing a total net sales decrease of 14.9% year-over-year, amounting to $71.2 million. Despite a 40% increase in breast product sales, the miraDry segment saw a 56.5% decline. The company's net loss was $89.9 million for 2020, with adjusted EBITDA loss decreasing by 35.4%. Looking ahead, Sientra anticipates 2021 net sales to rise between 10% and 18%, targeting breast product sales growth of 27% to 35%.
Sientra (NASDAQ: SIEN) announced that Chief Financial Officer Paul Little is resigning effective March 12, 2021, to pursue other opportunities. Valerie Miller, the current Vice President, will serve as interim CFO during the search for a successor. Mr. Little's departure is not related to any disagreements over accounting practices. The leadership transition is expected to have no material impact on the company's operations. Sientra remains confident in its growth prospects, supported by its innovative medical aesthetics products.
Sientra, Inc. (NASDAQ: SIEN) announced it will release its financial results for Q4 and the full year of 2020 on March 11, 2021, after market close. A conference call to discuss these results will follow at 4:30 p.m. ET. The company specializes in medical aesthetics, particularly focused on plastic surgeons, and offers a range of FDA-approved products, including advanced breast implants and the miraDry system for sweat and hair reduction. Investors can access the webcast on Sientra’s website, where relevant updates are also posted.
Sientra, a medical aesthetics company focused on plastic surgeons, will present at the SVB Leerink 10th Annual Global Healthcare Conference on February 26, 2021, at 3:40 p.m. ET. The presentation will be available via audio webcast on Sientra's investor relations website, with a replay accessible for 90 days. Sientra offers innovative products, including FDA-approved breast implants and the miraDry system for sweat reduction, aimed at enhancing patients' body image and confidence.
Sientra, a medical aesthetics company, has priced its underwritten public offering of 5,410,628 shares at $6.75 per share, aiming to raise approximately $36.5 million. The offering is set to close on February 11, 2021. The funds will support general corporate purposes, including administrative expenses and potential acquisitions, although no current agreements exist. Stifel is the book-running manager. A shelf registration statement for this offering has been effective since May 22, 2019.
Sientra, Inc. (NASDAQ: SIEN) has announced the commencement of an underwritten public follow-on offering of its common stock. The offering's size and terms remain uncertain and are subject to market conditions. The company plans to use the net proceeds for general corporate purposes, including administrative expenses and potential acquisitions, although no current commitments exist. Stifel is the book-running manager for this offering. A shelf registration statement related to this offering was previously filed and became effective in May 2019.
Sientra announced its preliminary unaudited financial results for Q4 2020, reporting estimated net sales of $22.6 million, a 2% decrease from Q4 2019. However, its Breast Products segment achieved record net sales of $17.9 million, marking a 40% year-over-year growth. The company continues to invest in its breast aesthetics business, focusing on marketing strategies and sales team expansion. Although miraDry segment sales fell by 54% year-over-year, total fiscal year 2020 net sales reached $71 million, exceeding earlier guidance of $63-$66 million.
Sientra, Inc. (NASDAQ: SIEN) reported third-quarter 2020 financial results with total net sales of $19.2 million, a 14% decrease from $22.4 million in Q3 2019. However, breast products sales surged to $15.3 million, marking a 21% year-over-year growth and 54% sequential growth from Q2 2020. The miraDry segment saw a significant decline of 60% to $3.9 million. The net loss improved to ($5.8) million, or ($0.12) per share, compared to a loss of ($22.4) million in 2019. The company reinstated its revenue guidance, expecting total net sales of $63 million to $66 million for 2020.
Sientra, Inc. (NASDAQ: SIEN) announced leadership changes as Jeffrey Nugent retires after five years as Chairman and CEO. Effective November 10, 2020, Ron Menezes, former President of Almirall, will become the new CEO, with Caroline Van Hove taking over as Executive Chair of the Board. Nugent will remain as an advisor until year-end. Menezes plans to build on recent performance and strengthen Sientra’s Breast Products segment, aiming for long-term growth. Van Hove emphasizes the solid foundation left by Nugent for continued stakeholder value.
Sientra, a medical aesthetics company, announced participation in four virtual investor conferences. Key events include the Stifel 2020 Virtual Healthcare Conference on November 16 and the Stephens Annual Investment Conference on November 20. Sientra's management will engage in fireside chats and 1x1 meetings. The company offers innovative products, including the OPUS® breast implants and miraDry® system, enhancing patient confidence and body image. Live webcasts of these events will be available on their website.
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