TELA Bio, Inc. - TELA STOCK NEWS

TELA Bio (NASDAQ: TELA), a commercial-stage medical technology company specializing in soft-tissue reconstruction solutions, has announced its participation in Piper Sandler's 36th Annual Healthcare Conference. The company's management team will deliver a presentation on December 3rd, 2024, at 12:00 pm ET. Investors and interested parties can access both the live presentation and archived webcast through the company's investor relations website at ir.telabio.com.

TELA Bio reported Q3 2024 revenue of $19.0 million, marking a 26% growth year-over-year. The company saw increased demand for OviTex® and OviTex PRS products, with unit sales volume growing 39% and 44% respectively. TELA completed a public offering raising $46.0 million gross proceeds and implemented efficiency measures expected to reduce 2025 operating expenses by $5.0-$10.0 million. The company reiterated its 2024 revenue guidance of $74.5-$76.5 million, representing 27-31% growth, though noting potential impact from IV fluid shortages. Q3 gross profit was $12.9 million (68% margin), with operating expenses at $22.2 million and a net loss of $10.4 million.

TELA Bio (NASDAQ: TELA) announced that its Compensation Committee has approved inducement grants of restricted stock units covering 5,400 shares to six newly-hired employees. The grants, dated November 1, 2024, were made under Nasdaq Rule 5635(c)(4) as part of employment compensation packages. These restricted stock units will vest equally over four years, contingent on continued employment with the company.

TELA Bio has completed its previously announced public offering, raising $46 million in gross proceeds. The offering included 14,670,000 shares of common stock at $2.25 per share and 5,800,000 pre-funded warrants at $2.2499 each. The underwriters fully exercised their option to purchase additional shares. Canaccord Genuity and Lake Street Capital Markets served as joint bookrunners. The company plans to use the proceeds for general corporate purposes, including sales and marketing, R&D activities, administrative matters, working capital, and capital expenditures.

TELA Bio has announced the pricing of a public offering comprising 12,000,000 shares of common stock at $2.25 per share and pre-funded warrants for 5,800,000 shares at $2.2499 per warrant. The offering is expected to generate $40 million in gross proceeds before expenses. The company has granted underwriters a 30-day option to purchase up to 2,670,000 additional shares. The offering, expected to close around October 24, 2024, will fund general corporate purposes, including sales, marketing, R&D, and working capital.

TELA Bio, a medical technology company focused on soft-tissue reconstruction, has announced a proposed public offering of common stock and pre-funded warrants. The offering includes an option for underwriters to purchase up to an additional 15% of securities. Canaccord Genuity and Lake Street Capital Markets are acting as joint bookrunners. TELA intends to use the net proceeds for general corporate purposes, including sales and marketing, research and development, administrative matters, working capital, and capital expenditures. The offering is being made pursuant to a shelf registration statement on Form S-3 that was declared effective by the SEC on November 20, 2023. A preliminary prospectus supplement and accompanying prospectus will be filed with the SEC.

TELA Bio, Inc. (NASDAQ: TELA), a commercial-stage medical technology company specializing in soft-tissue reconstruction solutions, has announced it will report its third quarter 2024 financial results on Thursday, November 7, 2024. The company's management will host a conference call and webcast at 4:30 p.m. ET on the same day to discuss the financial results and provide a corporate update.

Investors interested in participating in the conference call are required to register online at least a day in advance or a minimum of 15 minutes before the call starts. A live webcast and replay of the event will be accessible through the Events & Presentations page in the investor section of TELA Bio's website.

TELA Bio reported Q2 2024 financial results, highlighting 11% revenue growth to $16.1 million compared to Q2 2023. The company reiterated its full-year 2024 revenue guidance of $74.5-76.5 million, representing 27-31% year-over-year growth. Key developments include:

1. Appointment of Greg Firestone as Chief Commercial Officer
2. Launch of robotically compatible OviTex IHR Reinforced Tissue Matrix
3. NIVIS Fibrillar Collagen Pack launch, triggering revenue share payments

Despite growth, TELA Bio faced challenges from customer-targeted cyberattacks affecting some large accounts. The company reported a gross profit of $11.1 million (69% of revenue) and a net loss of $12.6 million. Cash and cash equivalents totaled $26.5 million as of June 30, 2024.

TELA Bio, Inc. (NASDAQ: TELA), a medical technology company specializing in soft-tissue reconstruction solutions, has announced the approval of inducement grants by its Board of Directors' Compensation Committee. These grants, issued on August 6, 2024, consist of restricted stock units covering 16,000 shares of common stock, awarded to nine newly-hired employees.

The grants were made under the Nasdaq Rule 5635(c)(4) inducement grant exception, serving as a component of employment compensation and an incentive for accepting positions with TELA Bio. The restricted stock units will vest in equal annual installments over four years, contingent on continued service with the company.